The company owns 45 000 apartments in Canada, Denmark, England. Most of its properties are in major metropolitan areas such as London, Paris, Berlin and New York City. Akelius provides Better Living by acquiring, upgrading and managing residential properties. It owns 50,000 apartment units in Sweden, Germany, France, Canada, the UK and the US. The firm also bought 321 East 22nd Street, a 117-unit rental building in Gramercy, for $60.9 million.Īkelius’ parent company is the largest listed real estate firm in Sweden. The Chelsea properties contain 245 apartments, some of which are rent-stabilized. The estimated additional pay is 21,535 per year. The estimated base pay is 57,814 per year. AKEL D SE0013110186 AKELIUS RESIDENTIAL PROPERTY AB (PUBL) (AKEL D) Add to my list Report Summary Quotes Charts News Calendar Company Financials Funds Summary Most relevant All News Analyst Reco. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Late last month, the firm acquired 225 West 23rd Street and 220 West 24th Street for $100 million. The estimated total pay for a Property Manager at Akelius is 79,349 per year. We can buy almost everything, as long as it fits our strategy.”Īkelius recently added to its New York City holdings through large transactions. “The size of the property does not matter. “We buy from 10 units up to 400 to 500 units,” Spann said. The firm’s “cherry-pickingˮ isn’t limited to small purchases. In Brooklyn, we are focusing on Clinton Hill, Prospect Park, Bed-Stuy, Brooklyn Heights, Red Hook and Park Slope.” “Manhattan and Brooklyn are our main focus at the moment. So we buy quality before quantity,” Spann said. It is more important to find the right properties in a good location. Meaning it doesn’t matter the size of the building. This fits into a wider philosophy for their acquisitions. Maybe the property was neglected and decaying under the previous owner,” he said. “We like to buy properties with huge potential in terms of maintenance. The number of transactions also decreased by six percent to 2,419.Īccording to Spann, his firm is chasing a certain type of asset. For the period, the total value of investment sales deals across New York City dropped 39 percent to $18 billion. Who doesn’t want to be in New York? There are few cities in the world with the same charisma,” he said.Īkelius is an anomaly in a market with an increasing number of investors straddling the sidelines.Īccording to an August REBNY report, the city’s investment sales market posted declines in every major metric during the first half of 2017. Spann said that his firm’s entry to New York City was not based solely on economics. Wonderful amenities, including a community BBQ and picnic area, a playground, additional resident storage in each building and lush golf course views, enhance the appeal of these spacious apartments in northern Virginia, moments from Reston Town Center. The firm plans to hold its New York City residential properties for the long term. It also acquired 90 Clinton Avenue, a five-story walk-up in Clinton Hill. The firm’s planned expansion will add to what has proven to be an active year for its New York City business.Īkelius Real Estate Management, the US subsidiary of Swedish firm Akelius, bought 185 Prospect Park, a ten-unit apartment building in Brooklyn, last July. “I would love to double the number of units between the next 18 to 24 months,” he said, referring to his firm’s 2,600-unit apartment portfolio across the Northeast. Spann, whose company is just two years removed from making its first New York City acquisition, is looking to initiate a growth spurt over the next two years. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.Ralf Spann, the CEO of Akelius Real Estate Management, is orchestrating the rapid expansion of his firm’s reach. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment.
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