Coastal Ridge Real Estate to develop construction for rent

Austin, TX, June 16, 2022 (GLOBE NEWSWIRE) — Coastal Ridge Real Estate (“Coastal Ridge”), a national multifamily investment, management and development company, today announced that it is continuing to expand of its Stillwell brand with a new project in Round Rock, Texas. The company will construct 225 build-to-let (“BFR”) units as part of Avery Center’s 1,200-acre mixed-use planned unit development.

The 20-acre site is conveniently located on the University Boulevard corridor, 25 miles north of Austin. Round Rock is home to Texas State University, Texas A&M Health Science Center, and Cornerstone Hospitality.

“Avery Center allows us to bring the Stillwell brand to Texas and the thriving Austin area,” said Andy Lallathin, managing partner of Coastal Ridge. “Stillwell offers our residents the same privacy and outdoor space as homeownership, without committing to a mortgage or maintenance.”

Coastal Ridge launched the Stillwell brand earlier this year with a 274-unit project in Wellen Park, a planned community south of Sarasota, Florida. The next Stillwell project is scheduled to start this summer in the MSA of Columbus, OH, with additional projects primarily throughout the Southeast in the pipeline.

“Our team is actively looking for additional locations for the Stillwell brand,” said Jerimi Nuckolls, director of development at Coastal Ridge. “Our Stillwell product is ideal for planned communities as well as unique land opportunities due to its appealing nature to a variety of potential residents. We believe we are well positioned for the Stillwell brand to be a leader in buildable rental space.

When completed, the Stillwell communities will include one, two and three bedroom homes. Residents will have access to a resort-style swimming pool, state-of-the-art clubhouse, walking paths, outdoor seating areas and a fitness center.

Coastal Ridge is evaluating additional sites ranging from 20 to 30 acres in select target markets. The project is being developed under a joint venture partnership with Halstatt Real Estate Partners. A first pickaxe is scheduled for July 19e on the site.

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About Coastal Ridge Real Estate

Based in Columbus, OH, with an additional office in Santa Monica, CA, Coastal Ridge Real Estate is a full-service real estate investment and management firm executing core, core plus, value-added investment strategies. and core development in the multifamily real estate asset class. The company’s vertically integrated platform includes divisions responsible for overseeing investment management, property management and development. Coastal Ridge’s current portfolio includes over 30,000 conventional apartments and student housing beds spanning 43 distinct markets, with assets under management totaling over $3.5. billion. Coastal Ridge has been recognized as one of America’s 5000 fastest growing private companies five times. For more information, visit www.coastalridge.com.

About Stillwell

Created by Coastal Ridge, Stillwell is an innovative multi-family housing concept in the rental construction industry. This innovative product known as a horizontal apartment or cottage community consists of self-contained one- or two-story single-family residential units with private courtyards, utilizing shared parking similar to a typical garden apartment layout and featuring programmed equipment. This product offers a new option for residential living, offering the privacy of a single-family home, along with the conveniences, professional management and ease of living of a traditional apartment community. For more information, www.livestillwell.com.

About Halstatt Real Estate Partners

Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has been involved in the acquisition and development of over $1 billion in real estate assets in the Southeast since 2011 Founded by the Sproul family, based in Naples, Florida, and proud part of the Barron Gift Collier heritage in Southwest Florida, HREP invests in value-added and opportunistic commercial and residential real estate projects for the middle market. HREP works with the best local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of fund-to-fund institutional sponsors, including charitable foundations and endowments, domestic and international family offices and corporate pension funds with a history of continuity. www.halstattrealestate.com

  • Stillwell at the Avery Center

  • Stillwell at the Avery Center rendering