Farmington Hills-based City Club Apartments (CCA) announced on Monday it will begin managing its $2 billion, 10,000-unit apartment and penthouse portfolio.
The first five of its 30 properties includes Ann Arbor City Apartments, Central West End Apartments in St. Louis, Plaza Club City Apartments in Kansas City, 800 Tower City Apartments in Louisville, and CCA, CBD in Cincinnati.
“This is a historic day for our customers, investors, partners, and the industry,” says Jonathan Holtzman, CCA’s CEO. “We are executing on the final piece of our CCA vision — rethinking, redefining, and delivering the ultimate urban and suburban-urban apartment experience.
“From the outset, we committed to a design, hospitality, service, amenity, and value creation plan that is unequaled. And, as we move closer to full execution, we know there is no one who will care as much about our residents and our communities, or fully- realizing this big, bold, and disruptive vision as we do. We are completing the ‘relationship’ with our customer.”
All of the aforementioned communities will be rebranded as CCA. The remainder of the properties will transfer to CCA management by the end of 2017. The CCA brand began in 2016 with 20 employees, and is expected to continue to grow to more than 275 people by the end of the year.
Holtzman joined CCA after leaving Village Green with all but one of the company’s real estate holdings, and the entire $500 million new development pipeline which includes the Statler City Apartments to be built in downtown Detroit on the site of the former Statler Hotel (Washington Boulevard and Park Avenue).