Market knowledge and sound management yields significant returns.
Engel's intimate knowledge of the market and a versatile property management philosophy and team, Engel was able to exceed every investment goal set when Colony House was purchased.
In 2014 Engel Realty Company, LLC purchased the Colony House Apartments located in Fort Walton Beach, Florida. A 139 unit apartment complex that was still owned and operated by the original developer. Through our relationships with the brokerage community and our ability to identify sound market fundamentals Engel was able to successfully negotiate a purchase and sale agreement and close on the property. During Engel’s ownership we instituted a value-ad program and subsequently raised the revenues at the property year over year. In 2018 Engel refinanced the property with a Fannie Mae Green loan and then in June of 2020 Engel was able to successfully negotiate a purchase and sale agreement to sell Colony House. The resulting transaction yielded a 66% return on investment.