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Wolber describes Stemen as having “an incredible background leading initiatives in multiple industries ranging from non-profits, to hospitality, to fitness that all play into the marketing campaigns she and her team run today!”

To listen to the full Podcast, visit the Dynamic Insights YouTube channel.

The post Dynamic Insights: Multifamily Marketing first appeared on Passco.

Coleman, who has nearly 10 years of experience in the real estate industry, joins Passco from RK Properties, where he served as director of sales for the company’s central and eastern U.S. territories since March 2021. Prior to that, he worked for NexPoint Securities, where he was a Delaware statutory trust product specialist for nearly five years.

Coleman earned a bachelor’s degree in communications from The University of Kentucky.

“We are thrilled to have Clayton on board as vice president of marketing,” Adriana Olsen, national sales manager of Passco Companies LLC, said. “His experience and expertise in the industry will be invaluable to our team as we continue to grow and expand our business. We look forward to working with him and seeing the impact he will make on our company.”

Headquartered in Irvine, California, Passco Companies is a full-service real estate company that acquires, develops, and manages multifamily and commercial properties throughout the U.S. Passco currently has $3.9 billion assets under management.

Originally published by The DI Wire.

The post Passco Adds Vice President of Marketing first appeared on Passco.

Passco Companies held its annual Executive Roundtable for the University of California, Irvine’s Center for Real Estate. The event brought together some of the most prominent commercial real estate executives in Orange County to provide valuable career information and advice to the Center for Real Estate students.

Passco Companies presented Larry Sullivan, Stacy Stemen, Grant Foster and Dayna Abdel as their representatives for the event. Chris Voros, Project Executive at Snyder Langston, and Michelle Schieberl, Senior Vice President at Kidder Mathews, also shared their experiences and expertise with the students.

The event offered the Center for Real Estate students an exclusive opportunity to interact with seasoned professionals and learn about the industry’s inner workings. Students were eager to learn from the panelists about their pathway to success and what they wished they knew when they started in commercial real estate. The speakers shared personal stories of their career journeys, including their successes and challenges, as well as valuable insights into what it takes to succeed in this competitive industry.

We thank Snyder Langston and Kidder Mathews for their time and expertise, which made the event a huge success. The Executive Roundtable was an excellent opportunity for students to gain valuable insights and knowledge from successful industry leaders. Passco looks forward to hosting more events like this for University of California, Irvine’s Center for Real Estate in the future.

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In former years, the conference floors at NMHC were daunting for women when they were confronted by a sea of blue suits and maybe a few familiar faces of women they’d met at various events throughout the years. “We knew there was an opportunity to bring these powerhouse women together to be able to recognize a familiar face in the crowd, so they would have the ability to network and do deals together,” said Stemen. 

The first Women’s VIP Brunch was held at the Waldorf Astoria in Orlando in 2020. Fast forward to 2023 and the founders have just completed their second annual event. More than 50 women from various ownership, management, financing and service providers companies attended.  

Brunch was served, complete with a popcorn and champagne pairing, while attendees shopped an exclusive Kendra Scott pop-up store. Kendra Scott has become the exclusive partner for this event and donates 20% of all sales made during the brunch to any charity of choice.  

Each attendee also received a complimentary piece of jewelry from Kendra’s collection. Commercial Real Estate Women Network (CREW Network) was elected recipient of the proceeds. This donation will support CREW Network Foundation’s scholarship fund for women pursuing a degree in a commercial real estate-related field of study. 

“We posed the question to everyone: what did your 10-year-old self-want to be and what do you aspire to achieve in your career now?” Stemen said. “It was inspiring to see how many of these women just want to give back and make a difference. From mentoring the next generation to animal rescue to becoming a  pilot to visit clients faster, the drive and passion these women have is unparalleled.” 

Event sponsors include Passco, iApartments, Pay Ready, ePremium, Valet Living, Resman and ResidentIQ.

Originally published by Connect CRE.

The post Second Women’s VIP Brunch Brings Multifamily Women Together at NMHC Conference first appeared on Passco.

Passco Companies in conjunction with Greystone, has acquired a Class A Independent Living Community in Knoxville TN. Greystone provided the funding while Passco Companies will be the owner and asset manager. Trustwell Living will manage the property. The community is located at 1932 Falling Waters Road. Formerly known as Prime West Knoxville, it will be renamed and branded as Trustwell Living of West Knoxville. The 145-unit community was built in 2020 and is currently 98% leased, with a waitlist.

The three-story community is approximately 163,000 gross square feet and features a mix of spacious one- and two-bedroom units, with a fitness center, game room, theater, activities area, greenhouse, dog park, putting green, pickleball court, library, indoor pool, and dining room.

The community will feature a number of on- and off-site activities, which range from artistic endeavors to musical entertainment, Happy Hours, and spiritual pursuits. The property is adjacent to two nationally anchored shopping centers.

The Cushman & Wakefield Senior Housing Capital Markets team including Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig, and Bailey Nygard, advised the seller.

Originally published by GlobeSt.

The post Passco, Greystone Purchase Independent Living Community in Knoxville first appeared on Passco.

The Class A community is comprised of studio, one-, two- and three-bed units averaging 971 square feet. The units were built with granite countertops, faux wood flooring, kitchen islands, nine-foot ceilings, washer/dryer units and walk-in closets. The community’s amenities include a saltwater pool, fitness center, resident clubhouse, social lounge, coffee bar, catering kitchen, poolside kitchen, pet spa, car care center, outdoor fire pit and two dog parks.

Located on a more than 32-acre site at 5900 Wilkinson Road, Longitude 82 is less than a mile from a Publix supermarket and the HCA Florida Sarasota Doctors Hospital. Residents also have nearby access to Interstate 75, which connects them to major nearby cities like Tampa, St. Petersburg and Fort Myers.

The Sarasota submarket has been seeing explosive growth, according to CBRE’s third quarter report for Florida’s multifamily market in 2022. There are currently 5,026 units under construction, while 6,2000 units were delivered in the last three years in the Sarasota submarket.

The steady development of units, however, has done little to suppress rents. The adjacent markets of North Port, Bradenton and Sarasota saw 16.2 percent annual rent growth, with average rents rising to $1,949. According to the report, these Southwestern Florida markets also saw the average occupancy rate grow to 94.8 percent.

Based out of Irvine, Calif., Passco Cos. has taken advantage of Florida’s rapid growth. The company purchased the recently-completed 300-unit Sea Sound Apartments in Panama City Beach, Fla. On Florida’s eastern coast, Passco Cos. sold The Haven, a garden-style community in West Melbourne, Fla., in January.

Originally published by Multi-Housing News.

The post Passco Sells Tampa-Area Community for $115M first appeared on Passco.

Cliff Taylor, Joe Ayers, Paul Berry and Don Hoffman of CBRE represented the seller, Columbus, GA-based Flournoy Development.

“Multifamily market fundamentals in the FL Panhandle have never been stronger,” said Ayers. “Since the onset of the pandemic, people from all over the country have been accelerating their plans to relocate to FL’s coastal communities.”

Passco Companies‘ new gated property at 10400 Panama City Parkway features four four-story buildings. Sea Sound Apartments residents have convenient access to large brand-name retailers less than one-mile from the property, as well as Breakfast Point Marketplace, a 110,000-square-foot shopping center. Additionally, one of Panama City Beach’s top destinations, the 1.1 million square foot open-air regional lifestyle center Pier Park, is located less than 10 minutes from the property.

Originally published by Connect Media.

The post Passco Companies Acquires New 300-Unit Multifamily in Panama City Beach first appeared on Passco.

For its third annual Lawyers in Real Estate Awards, Connect CRE chose 110 attorneys from around the U.S. representing a variety of disciplines. They were selected for excelling in their practices as well as their contributions to the community. The award celebrates real estate attorneys who have distinguished themselves in their practice and the larger community.

As done in 2021, Connect CRE spotlighted 10 attorneys nationally and from each of the 10 areas covered by their regional newsletters: California, Texas, New York, Chicago, Atlanta, Boston, Florida, Seattle, Phoenix and Washington, DC.

Passco Companies is proud to congratulate Senior Vice President & General Counsel John “Jack” Fitzgibbon, Esq. for being recognized this year.

In his role as General Counsel with Passco, Jack Fitzgibbon handles all legal matters pertaining to the company’s property investments. He also provides counsel, while managing the firm’s overall corporate governance matters.

Fitzgibbon oversaw and closed more than $1 billion in multifamily acquisitions and dispositions on behalf of Passco over the past 12 months.

Originally published by Connect Media.

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It was a record-setting year for the 15th annual Top Workplaces program in Orange County.

In all, 169 companies, the most ever honored in the program, made the list for their top-notch work culture in 2022.

The first year unshackled by the pandemic brought a number of milestones to many companies while others began to brace for a looming recession.

At the center of all the accolades were two words: “our people.” Not the bosses, not the bottom lines. The people.

As it goes for most thriving workplaces, putting employees front and center helped to create a collaborative and career-nurturing culture that rose above all others.

This year, 4,180 employers in the county were invited to have their employees take a survey managed by Energage. Combined, the companies surveyed employed 49,384 people in the county.

The program also welcomed 48 newcomers, including honoree Passco Companies.

Originally published by The Orange County Register.

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