Atlas Real Estate Partners/Skylight Real Estate Partners Tap Common to Manage St. Petersburg Multifamily Building
NS. PETERSBURG, Florida., September 22, 2021 / PRNewswire / – Common announced today that it has been selected to manage The Wayland, a newly renovated apartment building in the heart of Downtown of St. Petersburg, owned by Atlas Real Estate Partners (“Atlas”) and Skylight Real Estate Partners (“Skylight”). Common, the fastest growing real estate brand that designs, manages and rents homes in the United States, will now manage all 481 units of the property. The newly refurbished building consists mostly of studios and one-bedrooms and offers Class A amenities. Commons ‘unique property management style that puts the tenant first and Atlas Real Estate Partners’ industry expertise will enable a new way of living St. Petersburg, defined by value enhancement and community orientation.
Atlas and Skylight were acquired in 2017 and saw an opportunity to redefine life in St. Petersburg, Florida with a building that enabled residents to get the most desirable amenities at affordable prices. With the need for high quality rental apartments in the bustling Downtown neighborhood soaring, The Wayland is the ultimate residential destination for young professionals and service workers alike. The building has a spacious co-working space, which is available to residents in addition to a residents’ lounge and playroom. The space also provides space for residents to host friends with a residents’ kitchen, resort-style pool, sundeck, lawn, fire pits, and BBQ area.
“We are excited to partner with a forward-thinking management company like Common that understands the needs of today’s tenants,” said Director of Investments at Atlas Real Estate Partners. Joe Stampone called. “Common’s focus on the resident experience fits in perfectly with our long-term ownership approach and goal of creating a product and experience that is tailored for our residents.”
After entering the real estate world with coliving properties in 2015, traditional homes now make up over 50% of Common’s current 7,000 managed unit portfolio. The Wayland is Common’s first building in that Tampa Bay Range and a flagship for its traditional multi-family management. As a new breed of property manager, Common focuses on designing, renting and managing the type of apartment buildings that people really want to live in. With an in-house technology stack and extremely convenient services, Common is able to offer its members a seamless moving and living experience in a world where renting is becoming increasingly stressful.
“As we continue to expand our property management brand Florida“I’m thrilled that Common was chosen to run The Wayland,” said Amalia Paliobeis, Commons Senior Managing Director for Real Estate. “The teams at Atlas Real Estate and Skylight Real Estate Partners have built a portfolio of communities that are perfect for the Tampa Bay Residents. Adding our marketing and management expertise is sure to make The Wayland a positive and connected place to live St. Petersburg. “
Rentals with Wayland start at $ 1,250 per month and include newly renovated apartments, community events, discounts on local and national brands, and access to all of the building’s thoughtful amenities. Common has over 22,000 signed units in development in 22 cities around the world and continues to transform the real estate management space. Last year, Common acquired management contracts from its largest competitor Starcity, announcing extensive expansions in Philadelphia and LA, has named and elevated former New York City deputy mayor Alicia Glen to its board of directors $ 50 million in his Series D venture capital financing round from Kinnevik.
Common is a residential brand that is creating a better way of managing apartment buildings through innovations in technology, design and operations. Common offers tenants in twelve cities and almost 7,000 units in coliving, microunit and traditional apartments extraordinary experiences. They are the preferred choice for both local residents looking for a stress-free, all-inclusive living environment from a trusted brand and property owners looking for reliable, above-market returns. The Common platform also includes the Noah brand for workforce housing management and the family-first operator Mily. With over 22,000 signed and developed units and more $ 110 million In venture capital investing, Common is expanding into 22 cities around the world. To work with us, visit our partner page or follow us on Instagram at @ common.living.
Atlas Real Estate Partners is a private real estate investment company with offices in New York, NY and Miami, FL.
Since its inception in 2009, Atlas has over 50 acquisitions and development projects with a total capitalization of. closed $ 1.5 billion spread over ~ 10,000 residential units and ~ 1.4 million square feet of commercial space in numerous markets in the Southeast and Central Atlantic. Atlas is focused on growing its multi-family and residential portfolio through value-adding acquisitions and its Opportunity Zone Platform, which spans $ 200 million in multi-family development from scratch. Learn more at https://www.atlasrep.com/.
Skylight Real Estate Partners is a private real estate investment firm with extensive experience buying, developing and managing residential and commercial real estate in the major US markets of new York, New Jersey, Washington, DC, Central and South Florida.
The team’s management platform focuses on three complementary investment strategies: distressed, value-add and development opportunities. The founding partners have been investing together since 1998 $ 5.5 billion Equity totaling over $ 15 billion of the gross asset value. This experience spans over 9,000 residential units and 20 million square feet of office and retail properties.
Skylight offers its investors, tenants and partners extensive market knowledge, long-term relationships and institutional thinking, driven by a motivated and very experienced management team with a proven track record. Learn more at www.Skylightrep.com.
CONTACT: Phoebe dinner, [email protected]