Burkely Buys Greensboro Student Properties

PTAA member Burkely Communities has continued to expand its student housing portfolio with the purchase of four properties in Greensboro. From a Triad Business Journal article:

Burkely’s Spartan Student Apartments LLC purchased Chancellor Park Apartments, Sterling Park Apartments, Spartan Crossing Apartments and Spartan Square Apartments.

Burkely paid $9.86 million for 24-unit Chancellor Park and 36-unit Sterling Park; $5.1 million for 40 units at Spartan Crossing; and $1.175 million for 12-unit Spartan Square.

Burkely bought Chancellor Park and Sterling Park from GBORO AG UNCG LLC, an entity of United Student Housing of New York City. Burkely bought the Spartan Crossing units from Greensboro’s Granwood Properties LLC and acquired Spartan Square from a separate LLC made up of Granwood members.

Burkely Communities Sells Highland Crossing

The Winston-Salem Journal carried the story of Burkely Communities sold its Highland Crossing student community (Boone) to North State Capital Partners of Charlotte:

Highland Crossing opened in 2013 and consists of 204 beds. It offers a study lounge and fitness center, as well as outdoor amenities that include a pavilion with an outdoor fireplace, grills and sundeck, mountain bike rentals, a nature trail and a hammock garden.

Not Every Student Wants a Party Zone

PTAA member Burkely Communities is carving out a niche in student housing by focusing on the studious set. From their press release:

Burkely Student Communities near Appalachian State University, University of North Carolina at Greensboro (UNCG), North Carolina A&T University, and other campuses are designed to offer an off-campus living experience conducive to academic success.

Burkely Student Communities offer perks like rental discounts of $100 or more per semester for high grades, exam quiet hours, decompression zones, designated study areas and lounges, and healthy snacks. Residences include quiet courtyard apartments at The Park East and The District’s private high-rise studios close to UNCG.

“While there’s certainly a social dimension in our communities, our primary focus is supporting students’ efforts to succeed in school,” commented Kelly. “We believe it helps pave the way for a lifetime of success.”

Backed by the pledge that every Burkely Communities’ employee will do whatever it takes to ensure each resident is given every opportunity to fulfill their academic potential, the appeal is clear: “The unconditional 24/7 help from the Burkely staff is impeccable,” said Guilford College senior Lily Wotkyns. “Burkely does a thorough job making sure I have all the resources to finish my homework or anything I need for school. The community is respectful, quiet and a place where I can be successful and thrive.”

Jody Longwill Named President of AANC Beginning September 1, 2014

PTAA is very proud to share this exciting news from AANC about our very own Jody Longwill:

A 28-Year Industry Veteran Longwill Foresees Continued Appeal for Apartment Living

GREENSBORO, N.C., June 12, 2014 –Jody Longwill, who serves as the Burkley Communities Director of Apartment Management and Staff Development, has been elected President of the Apartment Association of North Carolina (AANC).  A 28-year veteran of the multi-family rental housing industry, Longwill has worked with Burkely Communities for 17 years, and served on the AANC board for 12 years, including the last two years as an officer of the board.  In addition, she is a past president of the Piedmont Triad Apartment Association, and has achieved the Certified Apartment Portfolio designation from the National Apartment Association.

“We are thrilled with Jody’s new executive role with AANC,” said Sterling Kelly, CEO and Co-Founder of Burkely Communities.  “Her industry expertise, strategic vision, and keen understanding of what diverse populations –from college students to older populations – desire from apartment community living makes her ideally suited to lead our state’s eminent trade association.”

“Under Jody’s leadership, the AANC is poised for growth, and will continue to provide an inclusive, cohesive voice for our industry,” commented Ken Szymanski, AANC Executive Director.

“For affordability, flexibility and other lifestyle reasons, apartment style living continues to evolve and thrive in North Carolina,” concluded Longwill, “It’s an especially exciting time to take on such an important leadership role with the AANC.”

Writing a New Chapter for a Distressed Property

The Ashley Creek Apartments in Greensboro had a long history of problems until new ownership stepped in, spent significant dollars to renovate, and brought in PTAA-member Burkely Communities to manage the successful transition to what is now known as Pinecroft Place. Fox 8 has the story:

Burkely Communities and Emerson Management Announce Merger

From the press release issued on February 1, 2012 by Burkely Communities and Emerson Management:

Burkely Communities, a long-term owner operator of premier apartment communities, and Emerson Management, a full-service real estate firm with expertise in multi-family, student housing and commercial properties associated with Emerson Group, jointly announce the merger of their two firms effective immediately. Together, the new business will
operate as Burkely Communities.  Executives anticipate post-merger operations will include 2,200 units in the Triad market with an additional 800 area units to be added in the near-term.

Sterling Kelly, currently president of Burkely Communities, will serve as chief executive officer and oversee the asset and property management side of the business. Jay Robinson, currently managing partner for Emerson Group, will serve as president and chief financial officer for Burkely with leading responsibility for the acquisition and development side of the business. The combined firm will be headquartered at 819 North Elm Street in Greensboro and include 45 employees.

According to Sterling Kelly, “The merger of Burkely Communities and Emerson Management is a great fit, reflecting our shared vision, complementary long-range goals, and the strategic alignment of our two businesses.”

“Emerson’s strong suit has been the acquisition and management of residential real estate, particularly for student housing and single family homes. Burkely excels in developing and marketing great apartment communities, having earned the National Apartment Association’s PARAGON Award in 2004 for Lincoln Green and in 2009 for Westborough as national models of excellence,” added Jay Robinson. Both firms have real estate expertise across the Southeast with particularly strong ties to the Triad region of North Carolina.

“This merger reflects our likeminded long-term interest in building and managing a profitable portfolio of standout apartment communities,” commented Kelly. “It gives us a deep and experienced team of professionals, who are committed to creating long-term value for all our stakeholders and contributing positively to the communities where we do business.”

About Burkely Communities

Headquartered in Greensboro, NC, Burkely Communities, which represents the merger of Emerson Management and Burkely Communities, is a full-service property development and management firm dedicated to quality construction and superior living experiences. The firm has expertise in apartment communities, student housing, commercial, and single-family properties. For additional info, visit www.burkelycommunities.com.