Sep 11, 2023 | Media, PR
With piqued interest in outdoor living, multifamily property owners curate amenities for a building based on location and a community’s needs, and these amenities depend on many factors: the property’s size, location, configuration and more. New Standard Equities Founder & CEO Edward Ring spoke with Realtor Magazine to discuss trends in multifamily amenities and NSE’s approach to adding property amenities that will attract tenants and provide greater ROI for investors.
Read the story here.
Jun 20, 2023 | Media, PR
CEO Edward Ring joined host Brandon Sedloff on The Distribution podcast to discuss how CEOs can use operational efficiency initiatives to manage costs; why New Standard Equities (NSE) believes in cross-functional training for employees; and what tools Ring uses to steer NSE through the current economic environment.
The Distribution by Juniper Square talks with industry experts, thought leaders and some of the biggest names in commercial real estate, venture capital and private equity, for open and honest conversations about what’s happening in the private markets.
Watch the interview here.
Listen to the podcast episode here.
Jun 2, 2023 | PR
CEO Edward Ring joined the Ritter on Real Estate podcast to discuss his path from a comedy writer to founding New Standard Equities and his strategic approach to real estate investing. Ring provided insight on how he built the company into what it is today, how he evaluates potential deals, the pros and cons of in-house property management, how politics impact development and more.
The Ritter on Real Estate podcast interviews top real estate experts on their advice, strategies, and tools to help others become better passive investors.
Listen to the episode here.
May 15, 2023 | Media, PR
New Standard Equities Founder & CEO Edward Ring participated in the Multifamily Panel at RENTV’s Inland Empire State of the Market Conference on May 9, 2023. The panel discussed why they originally began investing in the Inland Empire, the limited supply of housing coming down the pipeline and continued interest from potential investors in the area.
The conference featured panels of top local executives and dealmakers discussing the industrial, office, retail, multifamily and finance markets throughout the Inland Empire.
Apr 12, 2023 | Media, PR
Multi-Housing News and The Registry reported on New Standard Equities’ $19.8 million refinancing secured for Village Fair Apartment Homes, a 120-unit multifamily community in Bremerton, Wash. Read the articles below as well as more about our approach to increasing revenue and controlling expenses to deliver strong returns to investors.
Mar 31, 2023 | Media, PR
– Asset Has Achieved 92.89% Improvement in Net Operating Income Since Acquisition –
Encino, Calif. (March 31, 2023) – New Standard Equities (NSE), a Los Angeles-based, full-service multifamily investment and management company, completed a $19.8 million refinance of Village Fair Apartment Homes in Bremerton, Washington, on March 31, 2023, continuing its strong focus on delivering equity back to investors, even in a challenging real estate market. This was the third refinance of the 120-unit property since its purchase for $13.1 million in December 2016. Its appraised value today is $30.6 million.
The property was first refinanced in 2018 and underwent a second refinance of $18.6 million in 2020 that continued the repatriation of equity to investors and positioned the asset for additional long-term growth. NSE has spent over $2.2 million in capital improvements including renovating 90 percent of the units.
“In executing the Village Fair business plan, our emphasis every step of the way has been on increasing revenue and controlling expenses to move our net operating income in such a way as to make refinancing possible,” said NSE Founder & CEO, Edward Ring. “We are pleased this property has achieved a nearly 93 percent improvement in NOI from year one and our percentage of expenses of gross revenue is down to the current level of 38% which is considered best-in-class operations. We beat our projections by a significant amount.”
NSE closed the refinance with a 5-year, fixed rate, interest only loan at 5.63%. The lender was Fannie Mae through M&T Bank and sourced by Brian Eisendrath at IPA.
Built in 1984, Village Fair Apartment Homes is a garden-style apartment community located in close proximity to Silverdale, one of the fastest growing submarkets of Kitsap County. The community provides easy access to the Kitsap Mall, downtown Bremerton and the Bremerton Ferry Terminal, allowing residents to travel to downtown Seattle in as little as 30 minutes. The property caters to both individuals and families and offers spacious 1×1, 2×1, 2×2 and 3×2 floor plans. Kitsap County is home to Naval Base Kitsap, one of the largest employers in the area, as well as St. Michael Medical Center and an Amazon delivery center that boosts local employment.
New Standard Equities is a leading, vertically-integrated real estate investment and asset management firm that specializes in the acquisition and operations of multifamily properties located throughout the Western U.S. Founded in 2010, NSE is known for its best-in-class creativity, consistent investment process to deliver strong cash flow and asset appreciation, and institutionally-trained executive team with extensive operational expertise. NSE is able to deliver outstanding returns to investors by providing the ideal living experience for residents through “Just Right” Living™ – matching every dollar residents spend on rent with the delivery of what they truly value.
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