Latest news with #PeterTsoulogiannis
Yahoo
10-07-2025
- Business
- Yahoo
Slate buys $226M Sun Belt apartment portfolio
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Number of Properties: Six Buyer: Slate Asset Management Seller: ZMR Capital Property type: Garden style Units: 1,600 Location: Tampa, Florida; Atlanta; and Phoenix Total purchase price: $226.5 million In times of uncertainty, many real estate investors focus on playing defense. Multifamily, which fills an essential need and has limited inventory due to slowing starts, is an inviting target. 'As long as they're well run, you can keep them occupied,' said Peter Tsoulogiannis, partner and chief investment officer at Slate Asset Management. 'You can keep growing your rent slowly and steadily. It may not be exciting, but it's very defensive.' Tsoulogiannis says his Chicago-based investment and management firm executed that defensive strategy this week when it announced it was payingid $226.5 million to acquire 1,600 units of apartments across six properties located around the Tampa, Florida; Atlanta; and Phoenix metros. Slate is acquiringbuying the portfolio from syndicator Tampa-based syndicator ZMR Capital, which will continue to manage the assets. King & Spalding advised Slate on this transaction, which is expected to close at the end of July. 'We're making an equity play where we're in the control piece, and we're keeping the operating partner in,' Tsoulogiannis said. The six-property Sun Belt portfolio is well occupied and has long-term growth potential through mark-to-market rent increases, according to Tsoulogiannis. The assets were built in the 1970s and 1980s and have undergone renovations in the past. 'The assets are actually performing really well,' Tsoulogiannis said. 'With these structures you get into, the fund lives you get into and the maturing mortgages you get into, sometimes the assets just have to change business plans in order to continue.' Slate will continue to invest in multifamily properties through both debt and equity offerings, and will remain open to structures like the one it has with ZMR in the future. 'We hope this is the first of more in this space,' he said. Tsoulogiannis said that the properties are situated near grocers and other essential goods and service providers. 'For residential to work really well, it needs to be close to all those other essential amenities,' he said. Slate will continue to invest in multifamily through both debt and equity offerings, and will be open to structures like the one it has with ZMR in the future. multiple structures. 'We can work with lots of different people, but we want to find good operators who know what they're doing,' Tsoulogiannis said. 'If they have control of assets and they need capital to continue to add value to those assets in some way, shape or form, we're open to that.' Tsoulogiannis believes the multifamily sector is poised to benefit from favorable supply-demand dynamics, an undersupply of new housing and increasing demand for rental options. 'We hope this is the first of more in this space,' he said. Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
08-07-2025
- Business
- Business Wire
Slate Asset Management Agrees to Acquire $226.5 Million Sunbelt Multifamily Portfolio
CHICAGO--(BUSINESS WIRE)--Slate Asset Management ('Slate'), a global investor and manager focused on essential real estate and infrastructure assets, today announced that it has agreed to acquire a six-property, 1,600-unit multifamily portfolio (the 'Portfolio') for $226.5 million. The properties in the Portfolio are located in rapidly growing Sunbelt markets across Florida, Georgia, and Arizona. 'We are pleased to announce our latest investment in the multifamily real estate sector – a performing portfolio of defensive assets with attractive fundamentals serving essential needs in markets with strong demographics,' said Peter Tsoulogiannis, Partner and Chief Investment Officer at Slate. 'We have strong conviction in the long-term demand for housing, and despite macro volatility, our investment philosophy remains unchanged; we continue to focus on acquiring below replacement cost with below market in-place rents in order to generate meaningful cash flow growth.' The multifamily sector is poised to benefit from highly favorable supply-demand dynamics: a structural undersupply of new housing due to declining housing starts combined with increasing demand for rental options. The Portfolio is well occupied, with long-term growth potential through mark-to-market rent increases. The Portfolio's garden-style apartments are concentrated in and around the growing Tampa, Atlanta, and Phoenix MSAs. The properties are located near grocers and other essential goods and service providers, providing attractive housing options for the cities' burgeoning workforces. King & Spalding advised Slate on this transaction, which is expected to close at the end of July. About Slate Asset Management Slate Asset Management is a global alternative investment platform. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate's platform focuses on four areas of real assets, including real estate equity, real estate credit, real estate securities, and infrastructure. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit to learn more, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.
National Post
08-07-2025
- Business
- National Post
Slate Asset Management Agrees to Acquire $226.5 Million Sunbelt Multifamily Portfolio
Article content CHICAGO — Slate Asset Management ('Slate'), a global investor and manager focused on essential real estate and infrastructure assets, today announced that it has agreed to acquire a six-property, 1,600-unit multifamily portfolio (the 'Portfolio') for $226.5 million. The properties in the Portfolio are located in rapidly growing Sunbelt markets across Florida, Georgia, and Arizona. Article content 'We are pleased to announce our latest investment in the multifamily real estate sector – a performing portfolio of defensive assets with attractive fundamentals serving essential needs in markets with strong demographics,' said Peter Tsoulogiannis, Partner and Chief Investment Officer at Slate. 'We have strong conviction in the long-term demand for housing, and despite macro volatility, our investment philosophy remains unchanged; we continue to focus on acquiring below replacement cost with below market in-place rents in order to generate meaningful cash flow growth.' Article content Article content The multifamily sector is poised to benefit from highly favorable supply-demand dynamics: a structural undersupply of new housing due to declining housing starts combined with increasing demand for rental options. The Portfolio is well occupied, with long-term growth potential through mark-to-market rent increases. Article content The Portfolio's garden-style apartments are concentrated in and around the growing Tampa, Atlanta, and Phoenix MSAs. The properties are located near grocers and other essential goods and service providers, providing attractive housing options for the cities' burgeoning workforces. Article content King & Spalding advised Slate on this transaction, which is expected to close at the end of July. Article content , Article content X (Twitter) Article content , and Article content Instagram Article content . Article content Article content Article content Article content
