Élan Tower - Park Slope

Location: Brooklyn, New York
Property type: residential

2400 North Miami Ave

Location: Wynwood
Property type: residential + commercial

2192 - 2196 Frederick Douglass Blvd

Location: Manhattan, New York
Property type: residential + retail

417 - 441 - 40th Street

Location: Brooklyn, New York
Property type: residential

1623 Kings Highway

Location: Brooklyn, New York
Property type: commercial

1302 Kings Highway

Location: Brooklyn, New York
Property type: commercial + medical

48 NW 25th Street

Location: Wynwood, Miami, Florida
Property type: commercial

1700 Alton Road

Location: Miami Beach, Florida
Property type: hotel + commercial

Columbia Portfolio, Columbia, SC

The Columbia Portfolio is a four property, 672-unit garden-style apartment portfolio located in Columbia, SC, the state’s capital and second largest city. As the state capital, Columbia benefits from a diversified economy anchored by the South Carolina state government, as well as major healthcare employers including Prisma Health and BlueCross BlueShield. Additionally, Columbia is home to Fort Jackson, the largest basic Army training facility in the country and staple of the Columbia economy for 100+ years, as well as the University of South Carolina, the largest university in the state. On the property-level, the portfolio has historically maintained relatively steady occupancy in the low-90% range but has been mismanaged and suffers from high levels of deferred maintenance. Please see below for a brief overview of each asset: 

Austin Woods – 240 units located in southeast Columbia, roughly 15 minutes from downtown
Harbour Landing – 200 units located in southeast Columbia, roughly 15 minutes from downtown
Mallard Pointe – 120 units located in southeast Columbia, roughly 15 minutes from downtown
Ravenwood Hills – 112 units located in northeast Columbia, roughly 10 minutes from downtown

The business plan includes a value-add capital improvements program, including deferred maintenance repairs and substantial interior upgrades as units turn to increase rents over the life of the hold period. Through its targeted business plan and active management practices, substantial value is anticipated to be created by boosting net operating income via rent bumps over time and operating expense efficiencies via its in-house management expertise.

1 Brown, Philadelphia, PA

1 Brown Street is a two-tower, mixed-use property consisting of 245 residential units and approximately 30,000 SF of commercial space located between the growing neighborhood of Northern Liberties and the Delaware River in Philadelphia, PA. As a result of prior mismanagement and deferred maintenance, an infusion of capital was needed to payoff outstanding expenses and increase revenue generation. Since taking over day-to-day operations of the property on October 15, 2020 by entering into a joint venture with the current ownership group, Arch has begun a transformation of the property, including bringing online down units and beginning the rooftop and lobby renovations.

Cambridge Corporate Center, Charlotte, NC

Cambridge Corporate Center is a Class-A office property featuring 349,815 rentable square feet and 2,154 parking spaces. Featuring modern amenities such as floor-to-ceiling windows, skylights, open floor plans, fitness center and separate wings and entrances, Cambridge is situated on a ~50 acre park-like setting within University Research Park, one of the largest R&D parks in the county, which is home to more than 100 businesses and a workforce of 30,000. Tenants include General Motors, the City of Charlotte, Duke Energy and Western Union, and the property has maintained strong performance (only one tenant comprising <1% of the total square footage requested rent relief) even in light of the existing softer office market.

Riverbank, Jacksonville, FL

Riverbank is an 692-unit, Class-C, garden-style multifamily property located in Jacksonville, FL, the most populous city in FL that has experienced significant recent employment growth and in-migration. Jacksonville’s low cost of living, business-friendly environment, job availability, warm climate and beaches continue to attract new residents, including families, professionals and retirees. After taking over this exceptionally mismanaged property, with significant deferred maintenance and no leasing or renovation plan, Arch has renovated over half of the units, completed major exterior improvements projects and rebranded the whole property. Moreover, the property has seen a huge uptick in leasing velocity recently as occupancy has increased over 10% since the beginning of 2021, and the property has been able to achieve rents greater than anticipated in the proforma. Due to increased investor appetite for multifamily assets in the Southeast U.S. and growth in the Jacksonville market, Arch continues to receive unsolicited offers to purchase the property, which has a market value over significantly greater (~$15k/unit) than Arch’s existing basis.

Carolinas Portfolio, Winston-Salem, NC and Spartanburg, SC

The Carolinas Portfolio is a four property, 1,125-unit garden-style multifamily portfolio with three properties located in Winston-Salem, NC and one property located in Spartanburg, SC. The portfolio was acquired from an existing owner who lacked the capital necessary to property market and maintain the properties, creating a large-scale value-add opportunity. Since acquisition, over 400 units have been renovated, helping push average in-place rents up ~$100/unit/month, and occupancy has increased from ~61% to ~72%, aided by the implementation of a strong management presence. Please see below for detail on each asset:

The Arlington – 294 units located in Winston-Salem, NC
The Charleston – 234 units located in Winston-Salem, NC
The Arcadian – 285 units located in Winston-Salem, NC
The Abner – 312 units located in Spartanburg, SC

The burgeoning markets of Winston-Salem and Spartanburg have seen multifamily property valuations increase immensely, fueled by low interest rates and high confidence in multifamily assets, among other reasons. Arch has received numerous unsolicited offers for all four properties, separately and individually, which were recently valued by reputable investment sales advisors around $100mm, ~$27mm greater than Arch’s existing basis.

640 Columbia

Location: Brooklyn, New York

640 Columbia, a 4 acre site located in Red Hook, Brooklyn, will be a three-story, 336,350SF logistics facility, minutes from Downtown Manhattan, Brooklyn, Queens, and the largest concentration of ecommerce shoppers in the country. Currently under construction, the project is being developed in partnership with Goldman Sachs Asset Management and will be the first multi-story industrial development on the East Coast.

9801 Blue Grass

Location: Philadelphia, Pennsylvania

9801 Blue Grass Road is located in Philadelphia, PA. Positioned off of Interstate 95, the +/-21.32-acre site currently houses an existing +/- 388,000 square foot warehouse. DHPH’s business plan includes demolishing the existing warehouse and redeveloping the site into a class A modern warehouse logistics facility totaling +/-316,800 square, which conforms to the zoning regulations “as of right”. Due in part to high barriers to entry, the infill Philadelphia industrial market has seen limited class A development and is in the early stages of experiencing a wave of institutional capital investment in the form of industrial redevelopment. With limited competition and a continued increase in demand, the project is ideally located and strategically designed to succeed in the market. DHPH’s proposed building is designed with modern amenities such as 36′ ceiling heights, ESFR sprinklers, LED lighting, ample dock loading as well as sufficient car and trailer parking.

1900 South Avenue

Location: Staten Island, New York

1900 South Avenue is a 53-acre site located in Staten Island, NY which offers rare tri-modal access, including a railroad track connection to the CSX/NS National Rail System served by Conrail, a 650′ waterfront steel bulkhead dock, and direct interstate access to route 440. With an unmatched location that is only minutes away from the second largest port in the country and the largest on the East Coast, the Site represents an unparalleled opportunity to capitalize on the strength of the Northern New Jersey/New York industrial market as well as New York City’s increasing demand for surface parking.