O wners , D evelopers & M anagers

Real Estate Journal — Section B

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North American Volume Builder of the Year Mericle Construction, Inc. receives top honor from Butler Manufacturing


several hundred firms includ- ing 40 Fortune 1000 compa- nies. Mericle’s largest project is CenterPoint Commerce & Trade Park in Jenkins Twp. and Pittston Twp.. More than 5,400 people work in the park in more than 8 million s/f of space. Mericle Construction is a vertically-integrated company with more than 250 in-house professionals with expertise in all aspects of commercial real estate development and construction. The Mericle team includes licensed architects, land planners, professional engineers, surveyors, licensed electricians, plumbers, carpen- ters, certified public accoun- tants, in-house legal counsel, leasing and marketing profes- sionals, licensed brokers, prop- erty managers, and more. 

Gavlick duringMarch ceremo- nies at the 2018 Butler Builder sales meeting held in Kansas City, MO. “We are honored and hum- bled to win this prestigious award,” said Robert Mericle. “This is the top award handed out by Butler Manufacturing and is a credit our tremendous team of more than 250 skilled professionals who work very hard every day to develop quality real estate and recruit tenants that create and retain jobs in our area.” Founded in Wilkes-Barre by Robert Mericle, Mericle Construction, Inc. has been a Butler Builder since 1987. The firm has developed more than 22 million s/f of industrial, flex, office, and medical space in Northeastern PA. Mericle has provided space to

ilkes-Barre, PA — Me r i c l e Construction Inc. ,

HI-LIGHTS A pril 27 - M ay 10, 2018 The award was presented to Mericle president Robert Mericle , COO Lew Sebia , senior VP Bryan McManus , and VP of construction Bob a builder of industrial and office space headquartered in Plains Twp., near Wilkes-Barre, has been named the North Ameri- can Volume Builder of the Year by Butler Manufacturing . This award celebrates the But- ler Builder that completes the most sales of Butler buildings during the calendar year.

Mericle Construction, Inc. was honored to receive Butler Manufacturing’s NorthAmerican Volume Builder of the Year award during ceremonies held in March in Kansas City. The award is the highest handed out by Butler annually. From left to right are Steven Hudgins, Butler’s Manager of Business Development; Lew Sebia, Mericle COO; Bob Gavlick, Mericle Vice President of Construction; Bryan McManus, Mericle SVP; Rob Mericle, President; and Greg Pasley, President of Butler Manufacturing.

Avanath Capital Management acquires 300+ affordable housing units in New Jersey &Maryland

UPPER MARLBORO, MD ANDWHARTON, NJ — Ava- nath Capital Management, LLC , a private real estate investment manager and reg- istered investment adviser, has acquired three multifamily properties totaling 311 units for a combined consideration of $38.08 million. The firm acquired Largo Cen- ter, a 100-unit family housing community for $14.3 million and Vistas at Lake Largo, a 110-unit senior housing com- munity for $15.03 million, both in Upper Marlboro, MD. Avanath Capital also acquired Centennial Court, a 101-unit senior living complex for $8.75 million in Wharton, NJ. This is the firm’s first acquisition in New Jersey. These acquisitions were pur- chased through Avanath’s in- stitutional fund, Avanath Affordable Housing III . “While much of the multi- family market still caters to luxury housing, targeting an- nual incomes of $100,000 plus, the average American’s annual income is between $35,000 - $80,000. This presents a deficit of affordable housing options for the largest group of rent-

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SGA Cos. & ALTA Worldwide selects Kinsley to build Capitol Courts Apartments in DC

Largo Center

Vistas at Lake Largo

ers in the United States,” said John Williams , president and chief investment officer of Ava- nath. “Our focus is to invest in markets with a need for afford- able housing to fill this deficit, ultimately serving the needs of the largest cohort of renters in our nation.” Avanath Capital acquired Largo Center, a 100-unit mul- tifamily community and Vistas at Lake Largo, a 110-unit se- nior housing community, both in Upper Marlboro, MD. “Prince George’s County is the second largest county in the state of MD and directly borders Washington DC. The market continues to grow as multiple federal agencies and

technology companies expand in the area,” said Williams. “Largo Center offers a prime location for employees in these industries to benefit from quick work commutes.” “We plan to renovate both properties with upgraded club- houses and fitness centers, keyless entry, LED lighting, exterior paint and landscap- ing and improved common area hallways. This reflects Avanath’s mission to not only acquire affordable housing opportunities but to strategi- cally renovate them to increase property value and resident satisfaction,” says Williams. Largo Center is located at 520 Largo Center Dr. and Vistas at

Lake Largo is located at 500 Harry S. Truman Dr., both in Upper Marlboro, MD. Avanath Capital acquired Centennial Court, a 101-unit senior housing community in Wharton, NJ for $8.75 million. “30% of Wharton’s popula- tion is comprised of adults aged 50 and older, yet Centen- nial Court is one of only three senior housing communities in the area,” said Williams. “This is a tremendously competitive advantage, allowing us to capi- talize on strong demand, while maintaining senior housing affordability in an affluent and growing market.” The property is located at 100 N Main, in Wharton, NJ. 

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