Tryko Partners’ long-term investment approach, hands-on management and operations, and track record for successfully repositioning multifamily assets reflect a belief that, in order to preserve housing for the long term, it is necessary to invest in and support our residents, properties and neighborhoods. With every new acquisition we see an opportunity to create a vibrant community by taking the property to a higher standard of living. We have implemented progressive capital improvement programs throughout our portfolio. We take pride in our work toward sustainability. By implementing energy-efficient upgrades and programs that include energy retrofits and high performance appliances, we have effectively – and significantly – reduced consumption at our properties.
Today we own more than 7,200 multifamily units, including market-rate, age-restricted and affordable-housing properties.
Tryko Partners Acquires Camden Court Apartments in Baltimore, Md.
Tryko Partners has expanded its multifamily portfolio with the addition of Camden Court, a 221-unit high-rise apartment community in downtown Baltimore. The private equity investment group has plans to launch a multi-million-dollar capital improvement of the Class A property. Built in 2005, Camden Court features ground-level retail space and private underground parking; all apartments feature in-unit washers and dryers. In addition, the building has an appealing amenity package, including a state-of-the art fitness center, resident lounge, business center and a pet wash/spa station. Tryko’s planned physical improvements include kitchen and bathroom updates, and upgrades in hallways and amenity spaces. Residents benefit from Camden Court’s location, which is within walking distance of the city’s popular shopping, dining and entertainment destinations, including Camden Yards and M&T Bank Stadium. The apartment community also sits directly adjacent to both the University of Maryland-Baltimore campus and the University of Maryland Medical Center.
“We have a strong presence in the Maryland area and were attracted to the significant value-add opportunity in Camden Court. Our capital campaign will make Camden Court a more competitive product within a submarket that is projected to maintain strong population growth and rental demand.” Uri Kahanow, Director of Acquisitions, Tryko Partners
Tryko Partners Acquires Robert H. Stinson Tower in Chester, Pa.
Tryko Partners has added 150 affordable senior housing units to its portfolio with the addition of Robert H. Stinson Tower in Chester. The private equity investment group this fall acquired the 13-story building at 1501 Arbor Drive. The City of Chester sits in Delaware County, approximately 20 miles from Philadelphia. Tryko’s planned improvements for the property include immediate upgrades to its elevator cabs, to be followed by additional renovations to systems, units and grounds. Wells Fargo Multifamily Capital, through its Fannie Mae execution, provided financing for the Robert H. Stinson Tower acquisition. Today Tryko owns more than 7,200 residential units, including more than 4,425 affordable housing units and multiple age-restricted properties.
“Tryko has a strong presence in the regional market, including Philadelphia, its suburbs and Southern New Jersey. This includes multifamily – with a blend of senior and traditional, affordable and market rate – as well as skilled nursing and assisted living. Robert H. Stinson Tower was a logical fit in terms of both location and product type, as senior affordable housing continues to be an attractive sector for investment.” Uri Kahanow, Director of Acquisitions, Tryko Partners
Pemberton Manor Partners with Maryland Food Bank for Free Kids’ Lunch Program (Salisbury)
Tryko Partners’ Pemberton Manor in Salisbury this summer teamed up with the Maryland Food Bank to support food security for school-age children of tenants at the 209-unit apartment complex. Nearly two dozen youth joined in a weekday free lunch program in the property’s community room. Pemberton Manor also has established programs in partnership with several other non-profit organizations. In addition to regular youth-focused social gatherings, the property has a year-long initiative with the non-profit Extraordinary League of Gentleman focused on promoting healthy, active lifestyles among the community’s youth. In addition, Pemberton Manor hosts weekly etiquette and interpersonal communication training in conjunction with the Wicomico County Health Department. Tryko purchased Pemberton Manor in 2011 and has since completed a $1 million property renovation. Located on 60 acres, Pemberton Manor features both market-rate and HUD affordable housing units.
“Pemberton Manor is changing the lives of its younger generation, which is a huge investment in our community. When hunger is satisfied, positive consequences play out, as children can focus on just being children. I am so proud that Pemberton Manor is a partner with us as we fight child food insecurity together.” Lysa Layman, Youth Program Coordinator, Maryland Food Bank.
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