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HomeMy WebLinkAbout00072723Jeaens & Gilchrist A PROFESSIONAL CORPORATION www.jenkens.com RICHARD M. TRAYNOR ATTORNEY DIRECT DIAL (214) 855-4123 FACSIMILE (214) 855-4300 rtraynor@jenkens.com 1445 ROSS AVENUE SUITE 3200 DALLAS, TEXAS 75202-2799 Jenkens & Gilchrist A PROFESSIONAL CORPORATION www.jenkens.com WILLIAM S. DAHLSTROM ATTORNEY DIRECT DIAL (214) 855-4173 FACSIMILE (214) 855-4300 wdahlstromOjenkens.com 1445 ROSS AVENUE SUITE 3200 DALLAS. TEXAS 75202-2799 &.ilding Qurtlity for Our G~stomas JUSTIN C. HELMS Development Analyst Student Housing 600 East Las Colinas Blvd., Suite 1800 • Cigna Tower • Irving, TX 75039 (972) 556-3736 • Fax (972) 556-6952 • jhelms@jpi.com OFF-CAMPUS COMMUNITIES BRIGHTSIDE CROSSING 252 Apartment Homes Baton Rouge, Louisiana JEFFERSON COMMONS 192 Apartment Homes Lawrence, Kansas JEFFERSON COMMONS 238 Apartment Homes Lubbock, Texas JEFFERSON COMMONS 312 Apartment Homes Orlando, Florida JEFFERSON COMMONS 173 Apartment Homes San Marcos, Texas JEFFERSON COMMONS 252 Apartment Homes Tallahassee, Florida ON-CAMPUS COMMUNITIES Barry University Miami Shores, FL JEFFERSON COMMONS 288 Apartment Homes Tempe, Arizona JEFFERSON COMMONS 300 Apartment Homes Tucson, Arizona JEFFERSON ARBOUR 400 Apartment Homes Orlando, Florida JEFFERSON AT MUSTANG VILLAGE 431 Apartment Homes San Luis Obispo, California JEFFERSON COMMONS 177 Apartment Homes Central, South Carolina JEFFERSON POINTE 486 Apartment Homes Tallahassee, Florida Wingate University Charlotte, NC Marshall University Virginia Commonwealth University Huntington, WV Richmond, VA PROJECTED OPENINGS - A UGUST 2000 JEFFERSON COMMONS 234 Apartment Homes Stillwater, Oklahoma JEFFERSON COMMONS 336 Apartment Homes Tampa, Florida JEFFERSON COMMONS 211 Apartment Homes Knoxville, Tennessee JEFFERSON COMMONS PHASE II 294 Apartment Homes State College, Pennsylvania JEFFERSON COMMONS 288 Apartment Homes Denton, Texas JEFFERSON COMMONS PHASE II 336 Apartment Homes Tucson, Arizona JPI Student Housing Concept The demographics of college housing indicate that the total college enrollment will increase by more than one million students over the next seven to ten years. Combining the logistics of a growing student body nationwide, and the absence of ample student housing results in multiple opportunities for our new product. Jefferson Commons communities offer university students an attractive and reasonably priced alternative to the traditional housing typically found at colleges and university environments. These communities break the mold of dormitory living and provide students a fully furnished apartment home specifically designed to meet their needs. r i Jefferson Commons provide an off-campus setting that is conveniently located on or near the campus and offers comfortable and private living quarters. The "lease by the bed" concept allows each student resident to sign a lease per bedroom, making each resident responsible for their own living arrangements. Jefferson Commons communities also offer amenity packages that are unsurpassed by any other student housing properties. Typical amenities include: Fully furnished activity center and clubhouse. b n i RCk V e 4-04 Resort-style pool, hot tub, basketball, and sand volleyball court, and fenced tennis facilities. JPI's Jefferson Commons living room at University of Texas in Austin. Student Services Center providing computer with direct connections to the university network and business equipment, such as fax and copy machines. State-of-the-art fitness and aerobics area. Community activity programs developed and coordinated by on-site staff. Mini-movie theater providing an inviting entertainment setting for groups of 10-12 residents. Exceptional security including a controlled access system and audible intrusion alarms in all units. Furnished units with a full-size kitchen, including a stove, dishwasher, microwave, refrigerator, double sinks, garbage disposal, washer, dryer, and designer cabinetry. Suites for 2, 3, 4-bedroom floor plans, with single bedroom configurations featuring extra long double beds, large closets, and built-in desks. JPI's campus communities provide an exceptional alternative to traditional student housing. Regional Leadership ■ James E. Truitt - President, Divisional Managing Partner ■ John N. Dinan - Sr. Vice President, Area Partner - Off-Campus Development ■ Raphael Fiqueroa - Sr. Vice President, Area Partner - On-Campus Development ■ Derrick Turnbull - Vice President, Off-Campus Development Manager ■ Beth Thompson - Sr. Vice President, Operations ■ Craig Cummings - Sr. Vice President, Construction ■ Richard Furr - Vice President, Acquisition Manager ■ Jim Hopke - Regional Asset Manager ■ Tracey McCaffree - Divisional Accounting Controller JPI Quality JPI, the company that builds the Jefferson Common's communities, designs properties to meet the increasing demands of today's students and universities they attend. We provide for the overall coordination of property management services through the development of policies and procedures which addresses issues typically confronted in these communities on a daily x. basis. Our employees, many of which come from the University Housing environment, are trained to be responsive to the needs of students, thereby gaining a superior reputation on campus among ISO potential residents as the leading provider of services to students. At Jefferson Commons, our staffs are trained professionals who have planned their careers in the art of managing Student Housing Communities and related facilities. We are not only charged with leasing and managing apartments, but we also preserve assets. Built on a foundation of customer service and an uncompromising commitment to quality. JPI Student Housing has established a reputation in the marketplace as a true market leader. JPI Development Services JPI's development team thoroughly investigates each prospective market and inexhaustibly researches sites to capitalize on the market acceptance. Each Jefferson Commons community is based on a uniform design plan, which is then tailored to meet particular specifications of a given location with emphasis on tree preservation and enhancement of other ecological attributes of the property. The communities are built in garden style configurations encircling a professionally landscaped courtyard and clubhouse/pool recreation area. In addition to a very thorough and sophisticated site selection process, the project unit mix, architecture and the physical construction all have to be well planned and responsive to the marketplace, as well as the owner's investment objectives. The coordination and integration of each of these various disciplines, as well as the up-front involvement and input of JPI's Property Management and Asset Management teams, help to further differentiate JPI from the competition. 1} JPI 's Jefferson Commons at ASU in Tempe, AZ features apartment homes JPI Company Backmround JPI is an experienced, fully integrated real estate firm that specializes in the acquisition, development, construction and management of multifamily communities. Through these activities, we are focused on enhancing and maximizing the value of residential apartment assets. Since it was founded in 1989, JPI has become a leader among U.S. builders of multifamily housing. Headquartered in Dallas, Texas, the company currently provides property management and leasing services for more than 20,000 apartment homes across the country. JPI has over 8,600 apartment homes currently under various phases of development and construction in Arizona, California, Colorado, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Missouri, Nevada, Pennsylvania, Tennessee, Texas and Virginia. In April 1991, JPI entered into a partnership arrangement with Hunt Realty Corporation, a wholly owned subsidiary of Hunt Consolidated, Inc. which made a substantial commitment to provide equity capital to JPI. Hunt Realty Corporation's origins are tied to Woodbine Development Corporation of Dallas, Texas, which was formed in 1973 to develop and manage commercial real estate for Hunt Oil Company, a 60-year-old exploration and production company directed by Ray L. Hunt. Between 1973 and 1991 Woodbine developed and acquired more than $500,000,000 worth of real estate including Hyatt Regency Dallas and Reunion Tower. In September 1997, JPI formed an investment venture with General Electric Capital Services to build and acquire apartment communities across the country. GE Capital Services, being the primary source of equity for the venture, has committed an initial $470 million in equity to JPI, making JPI the largest private multifamily real estate company in the country. The venture will develop high-end luxury apartments and innovated student housing communities across the country, in JPI's current markets and in new regions such as California, the Midwest, the Northeast and the Pacific Northwest. w` qq. `w is JPI 's Student Housing Rendering These associations have made JPI's long-standing relationships with private and institutional investors even stronger as JPI now has front-end equity capital which has been virtually nonexistent in the marketplace. This infusion of capital provides JPI a competitive edge in the marketplace as it relates to new development and acquisition opportunities. In 1994, JPI began to research and develop a means to diversify its apartment product line. An extensive look was taken at the student housing market niche and JPI acknowledge a need for new housing that caters specifically to students. As a result, JPI formed a new product line that combines "quality" and "student living" to form: Jefferson Commons. The executive leadership of JPI provides a clear direction and commitment to quality investments and management services, and instills the entrepreneurial freedom needed to succeed in today's competitive marketplace. Our proven performance, financial strength, and depth of management expertise culminate in a single mission... "Building Quality For Our Customers." Y _S sir twb w.. `.e • +d ii v II ~ 1, F ~ r P f 1 a q h ' A ~t~ fin-, t: 9 ~I _m 4 f { ZV. Of a` s~ r TV, WJ fro F t` ~ ~ A et' Qt; V.V 17 r ~ .i .p .r~+~`+"+y,~ .fix i - .w.¢ alr+ 46 ~~~~t~'~~, by • ~ ~ -lop 404 .ate _ e, Id' ;r 4r'= M:~r IF All _ lb . ~ y "2'DEC y ~ J IF . - + r 14. F C C C A 601 VT F e tt I t r d Jefferson Commons at Tempe Y 288 Apartment Homes 6 ± Tempe, Arizona j II - ~ ~y- I S F f Services Provided by JPI: Asset Management, Development, Property Management and Leasing, Disposition Services and General Construction Contractor is If Jefferson Commons at Lubbock 238 Apartment Homes Lubbock, Texas Services Provided by JPI: Asset Management, Development, Property Management and Leasing, Disposition Services and General Construction Contractor a 0 REGIONAL PROPERTIES JEFFERSON COMMONS 252 Apartment Homes Baton Rouge, Louisiana JEFFERSON COMMONS 200 Apartment Homes Lawrence, Kansas Cu 149 14D E• JEFFERSON COMMONS 238 Apartment Homes Lubbock, Texas JEFFERSON COMMONS 312 Apartment Homes Orlando, Florida JEFFERSON COMMONS 161 Apartment Homes San Marcos, Texas JEFFERSON COMMONS 252 Apartment Homes Tallahassee, Florida JEFFERSON COMMONS 288 Apartment Homes Tempe, Arizona Student Housing JEFFERSON COMMONS 288 Apartment Homes Tuscon, Arizona JEFFERSON COMMONS 400 Apartment Homes Orlando, Florida JEFFERSON COMMONS 431 Apartment Homes San Luis Obispo, California JEFFERSON COMMONS 192 Apartment Homes Fort Collins, Colorado JEFFERSON COMMONS PHASE II 270 Apartment Homes Austin, Texas JEFFERSON COMMONS 204 Apartment Homes State College, Pennsylvania JEFFERSON COMMONS 252 Apartment Homes Austin, Texas PROJECTED OPENINGS - A UGUST 2000 JEFFERSON COMMONS 234 Apartment Homes Stillwater, Oklahoma JEFFERSON COMMONS 336 Apartment Homes Tampa, Florida JEFFERSON COMMONS 181 Apartment Homes Knoxville, Tennessee JEFFERSON COMMONS PHASE II 294 Apartment Homes Penn State, Pennsylvania JEFFERSON COMMONS 288 Apartment Homes Denton, Texas JEFFERSON COMMONS PHASE II 328 Apartment Homes Tucson, Arizona 10 Student Housing ON-CAMPUS COMMUNITIES Barry University M iam i Shores, FL Marshall University Huntington, W V REGIONAL LEADERSHIP W ingate University Charlotte, NC Virginia Commonwealth University Richmond, VA ■ James E. Truitt - Divisional Managing Partner ■ John N. Dinan - Sr. Vice President, Area Partner ■ Raphael Fiqueroa - Divisional Property Manager ■ Derrick Turnbull - Regional Development Manager ■ Beth Thompson - Operational Partner ■ Craig Cummings - Divisional Construction Manager ■ Richard Furr - Vice President - Acquisition Manager ■ Jim Hopke - Regional Asset Manager ■ Tracey McCaffree - Divisional Accounting Controller is r r z z r z cn I.. JPI Student Housinz Concept The demographics of college housing indicate that the total college enrollment will increase by more than one million students over the next seven to ten years. Combining the logistics of a growing student body nationwide, and the absence of ample student housing results in multiple opportunities for our new product. ~ u s r tte;~i< ~x 1t y, v q,d Jefferson Commons provide an off-campus setting that is conveniently located on or near the campus and offers comfortable and private living quarters. The "lease by the bed" concept allows each student resident to sign a lease per bedroom, making each resident responsible for their own living arrangements. Jefferson Commons communities also offer amenity packages that are unsurpassed by any other student housing properties. Typical amenities include: Fully furnished activity center and clubhouse. Resort-style pool, hot tub, basketball, and sand volleyball court, and fenced tennis facilities. JPI's Jefferson Commons living room at University of Texas in Austin. Student Services Center providing computer with direct connections to the university network and business equipment, such as fax and copy machines. State-of-the-art fitness and aerobics area. Community activity programs developed and coordinated by on-site staff. Mini-movie theater providing an inviting entertainment setting for groups of 10-12 residents. Exceptional security including a controlled access system and audible intrusion alarms in all units. Furnished units with a full-size kitchen, including a stove, dishwasher, microwave, refrigerator, double sinks, garbage disposal, washer, dryer, and designer cabinetry. Suites for 2, 3, 4-bedroom floor plans, with single bedroom configurations featuring extra long double beds, large closets, and built-in desks. JPI's campus communities provide an exceptional alternative to traditional student housing. JPI Development Services JPI's development team thoroughly investigates each prospective market and inexhaustibly researches sites to capitalize on the market acceptance. Each Jefferson Commons community is based on a uniform design plan, which is then tailored to meet particular specifications of a given location with emphasis on tree preservation and enhancement of other ecological attributes of the property. The communities are built in garden style configurations encircling a professionally landscaped courtyard and clubhouse/pool recreation area. In addition to a very thorough and sophisticated site selection process, the project unit mix, architecture and the physical construction all have to be well planned and responsive to the marketplace, as well as the owner's investment objectives. The coordination and integration of each of these various disciplines, as well as the up-front involvement and input of JPI's Property Management and Asset Management teams, help to further differentiate JPI from the competition. JPFs Jefferson Commons at ASU in Tempe, AZ features apartment homes C JPI Company Background C JPI is an experienced, fully integrated real estate firm that specializes in the acquisition, development, construction and management of multifamily communities. Through these activities, we are focused on enhancing and maximizing the value of residential apartment assets. Since it was founded in 1989, JPI has become a leader among U.S. builders of multifamily housing. Headquartered in Dallas, Texas, the company currently provides property management and leasing services for more than 20,000 apartment homes across the country. JPI has over 8,600 apartment homes currently under various phases of development and construction in Arizona, California, Colorado, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Missouri, Nevada, Pennsylvania, Tennessee, Texas and Virginia. In April 1991, JPI entered into a partnership arrangement with Hunt Realty Corporation, a wholly owned subsidiary of Hunt Consolidated, Inc. which made a substantial commitment to provide equity capital to JPI. Hunt Realty Corporation's origins are tied to Woodbine Development Corporation of Dallas, Texas, which was formed in 1973 to develop and manage commercial real estate for Hunt Oil Company, a 60-year-old exploration and production company directed by Ray L. Hunt. Between 1973 and 1991 Woodbine developed and acquired more than $500,000,000 worth of real estate including Hyatt Regency Dallas and Reunion Tower. In September 1997, JPI formed an investment venture with General Electric Capital Services to build and acquire apartment communities across the country. GE Capital Services, being the primary source of equity for the venture, has committed an initial $470 million in equity to JPI, making JPI the largest private multifamily real estate company in the country. The venture will develop high-end luxury apartments and innovated student housing communities across the country, in JPI's current markets and in new regions such as California, the Midwest, the Northeast and the Pacific Northwest. JPI's Student Housing Rendering 0 J • These associations have made JPI's long-standing relationships with private and institutional investors even stronger as JPI now has front-end equity capital which has been virtually nonexistent in the marketplace. This infusion of capital provides JPI a competitive edge in the marketplace as it relates to new development and acquisition opportunities. In 1994, JPI began to research and develop a means to diversify its apartment product line. An extensive look was taken at the student housing market niche and JPI acknowledge a need for new housing that caters specifically to students. As a result, JPI formed a new product line that combines "quality" and "student living" to form: Jefferson Commons. The executive leadership of JPI provides a clear direction and commitment to quality investments and management services, and instills the entrepreneurial freedom needed to succeed in today's competitive marketplace. Our proven performance, financial strength, and depth of management expertise culminate in a single mission... "Building Quality For Our Customers." 1 ~ t ~ ~ y sr .N 1 _ f ~ ~ t 1h l4ytt llp~ y Y =r 5 J • ^st .emu i r~ i ,jlr _ r• f v. I k I-t El rv,-_ t~ ~r! ANN AI lu, r~ 0 0 Jefferson Commons at Lubbock 238 Apartment Homes Lubbock, Texas Services Provided by JPI: Asset Management, Development, Property Management and Leasing, Disposition Services and General Construction Contractor Jefferson Commons at Tempe 288 Apartment Homes Tempe, Arizona Services Provided by JPI: Asset Management, Development, Property Management and Leasing, Disposition Services and General Construction Contractor Jefferson in the Park 524 Apartment Homes Arlington, Texas Services Provided by JPI: Asset Management, Development, Property Management and Leasing, Disposition Services and General Construction Contractor