Recent News

  • April 6, 2023
    - Switzenbaum Elevates Christopher McGrath to President and COO

    McGrath was promoted from Senior Executive Vice President of real estate development, acquisitions and capital markets

    For More Information, Contact Nikki Wolfe, Yellow Duck Marketing, 704-307-7523, nikki@yellowduckmarketing.com

    Philadelphia, Pa., April 6, 2023 -Samuel Switzenbaum, Chief Executive Officer of real estate investment, development and management firm Switzenbaum & Associates, is pleased to announce that Christopher McGrath has been promoted to President and Chief Operating Officer (COO). In this role, McGrath will lead Switzenbaum in its mission to create value through the development, acquisition and management of core multifamily real estate assets.

    McGrath has experience overseeing real estate development, equity/debt capital markets and acquisitions in previous roles at Switzenbaum, where he has worked for the past 15 years. He was responsible for overseeing acquisitions, development and capital markets for more than $250 million in ground-up multifamily Class A developments.

    Throughout his career, McGrath has worked on more than $2.5 billion in equity and debt capital markets transactions, including over $400 million of development and equity/debt capital markets transactions at Switzenbaum.

    "I am excited to continue my journey at Switzenbaum, leveraging my vast experience in the real estate development and capital markets realm," McGrath said. “Working with our partners, I look forward to continuing to grow Switzenbaum's multifamily Class A portfolio in the southeastern U.S., capitalizing on recent growth momentum and expanding into new areas to further our success."

    Prior to joining Switzenbaum & Associates, McGrath leveraged significant financial service and real estate capital markets experience with UBS Investment Bank of New York and UBS Financial Services of Puerto Rico. He also has experience in investment banking covering real estate companies, financial institutions and government entities.

    McGrath has a master’s degree in Real Estate Finance & Development from Columbia University and a bachelor’s degree with concentrations in Political Science and Economics from Brown University. McGrath speaks fluent Spanish, allowing him to offer pro bono work and community presence to underserved minority populations.

    Switzenbaum & Associates is a vertically integrated real estate development, investment, and management firm. The firm owns and manages over $500M in real estate assets, with more than 2,000 multifamily units in Delaware, New Jersey and North Carolina, including Tyvola Centre in Charlotte, Sycamore at Christenbury in Concord, Ashley Park in Brier Creek in Raleigh, and future apartment communities planned in Monroe and Burlington in North Carolina.

    About Switzenbaum Management

    Switzenbaum Management is a fully integrated real estate investment, development and management company with an emphasis today on investing in and developing multifamily apartments. The company's process strives to establish each investment on a sound business foundation, but always with a creative market-driven approach that relies on four essential values: integrity, transparency, creativity and performance. For more information, please visit www.switzenbaum.com.

  • August 17, 2022
    - Luxury Apartment Community Opening in Christenbury Commons

    Sycamore at Christenbury features 275 units, upscale amenities

    For More Information, Contact Nikki Wolfe, Yellow Duck Marketing, 704-307-7523, nikki@yellowduckmarketing.com

    Concord, N.C., August 17, 2022 -Sycamore at Christenbury, a new 275-unit luxury apartment community in Concord, will begin pre-leasing starting in this fall with the first residents expected to move in soon after. Located on 17 acres off Christenbury Parkway, the community provides elevated apartment living, distinctive finishes, lifestyle-enhancing amenities, ample green space and convenient access to Christenbury Commons.

    Sycamore at Christenbury will feature five four-story buildings with interior corridors and elevators, providing an urban feel. The community includes one- and two-bedroom floorplans ranging from 792 square feet to 1,211 square feet. Rents start in the mid-$1,500s.

    With its distinctive design and luxury finishes, Sycamore at Christenbury provides a level of apartment living unlike any in the market, similar to a high-end condominium. The unique octagonal-shaped building design allows for eight corner units per floor – double the amount of typical multifamily construction – providing expansive exterior views. Sophisticated interior features include high ceilings, a gourmet kitchen with state-of-the-art appliances, plank wood flooring, designer walk-in closets, private balconies, panoramic windows that provide abundant natural light and secure access. To preserve building aesthetics and enhance curb appeal, condensing units were placed on the roof.

    Residents will enjoy an indoor/outdoor kitchen, equipped with a Sub-Zero refrigerator, that overlooking the pool deck, a resort-style saltwater pool with in-water seating, custom flower planters, outdoor grilling stations, scenic jogging trails, a clubhouse with full catering kitchen and coffee bar, conference room, business center, 24-hour fitness center, spin studio and yoga room with virtual fitness classes.

    Another major amenity is that Sycamore at Christenbury is walkable to grocery stores Lowes, Lidl and Earth Fare, as well as a number of other shops and other services nearby. Concord Mills is just a mile away.

    “We are thrilled to bring an upscale community to the people of Concord and expand in the Charlotte market and across North Carolina,” said Sam Switzenbaum, CEO of Switzenbaum & Associates. “This is just the start for us as we look to develop more properties in both the Carolinas.”

    Sycamore at Christenbury is part of Christenbury Commons, a larger mixed-use development. The site is approximately 43 acres and will include public infrastructure extension, public roadway improvements and more than 2,000 feet of greenway trails.

    Switzenbaum & Associates entered the Charlotte market in 2009, starting with the acquisition of Tyvola Centre Apartments, a community of 404 units. In 2019, Switzenbaum & Associates developed Sycamore at Tyvola across the street from Tyvola Centre. The company is planning several new development opportunities in North Carolina, including Monroe and Burlington. Switzenbaum & Associates is actively looking for appropriate markets and parcels across North and South Carolina to build future Sycamore apartment communities.

    Switzenbaum & Associates currently manages more than 2,000 multifamily units in Delaware, New Jersey, and North Carolina.

    For more information about Sycamore at Christenbury, visit https://sycamoreatchristenbury.com or follow them on Facebook and Instagram. A rendering of the apartment community can be found here and one of Christenbury Commons is here.

    About Switzenbaum Management

    Switzenbaum Management is a fully integrated real estate investment, development and management company with an emphasis today on investing in and developing multifamily apartments. The company's process strives to establish each investment on a sound business foundation, but always with a creative market-driven approach that relies on four essential values: integrity, transparency, creativity and performance. For more information, please visit www.switzenbaum.com.

  • March, 2021
    - Switzenbaum & Associates Breaks Ground On New Sycamore Apartment Community In Concord

    Sycamore at Christenbury will feature 275 units on 17 acres in Concord, NC.

    Concord, N.C. March 15, 2021 Switzenbaum & Associates has broken ground on Sycamore at Christenbury, a new 275 unit apartment community located in Concord, NC. Positioned on 17 acres off Christenbury Parkway, Sycamore at Christenbury will offer residents upscale finishes, secure gated access, green space, and convenient access to adjacent Christenbury Commons.

    Switzenbaum & Associates broke ground on the new development in December 2020 and expects delivery of first units in Spring of 2022. The community will feature five- four story buildings with interior corridors and elevators. The community’s unique one- and two- bedroom floorplans range from 792 square feet to 1211 square feet and come equipped with state-of-the-art appliances, secure access, and abundant natural light.

    Residents will be able to take advantage of the community’s green space with a variety of outdoor amenities including scenic jogging trails and a resort style outdoor pool. The community clubhouse will also offer residents 24-hour access to interior amenities including an expansive fitness center, business center, and conference room.

    “We are pleased to be expanding in the Charlotte market with our second new development,” said Sam Switzenbaum, CEO of Switzenbaum & Associates. “We enjoyed a positive market response with our unique design and offerings at Sycamore at Tyvola and expect to enjoy the same with Sycamore at Christenbury.”

    Switzenbaum & Associates entered the Charlotte market in 2009 with the acquisition of Tyvola Centre Apartments, a 404-unit apartment community, and in 2019 constructed Sycamore at Tyvola across the street. In 2019, Switzenbaum & Associates further expanded in the local market after being awarded the management contract for The Osprey at Lake Norman in Mooresville, NC. The company continues to explore new development opportunities in the region, currently managing more than 2,000 multifamily units in Delaware, New Jersey, and North Carolina.

    About Switzenbaum & Associates

    Switzenbaum & Associates is a fully integrated real estate investment, development and management company with an emphasis today on investing in and developing multifamily apartments. The company's process strives to establish each investment on a sound business foundation, but always with a creative market-driven approach that relies on four essential values: integrity, transparency, creativity and performance. For more information, please visit www.switzenbaum.com.

  • April 10, 2018
    - Luxury apartment community in southwest Charlotte provides 288 one- and two-bedroom units

    The article below regarding RSR State College LP: Fraser Centre was posted on www.mecktimes.com, it can be found HERE

    BY DAVID MALONE 2018-04-10

    Sycamore at Tyvola, a new luxury apartment complex from developer Switzenbaum and Associates, will soon open to residents on a 32-acre parcel of land in Southwest Charlotte. The gated community will offer 288 one- and two-bedroom units that feature upscale amenities, controlled access, elevator service, yoga, barre and spin studios, a pool, and expansive green space.

    The Schwam Architects-designed complex complements the unique topography of the site and has a layout that includes twice as many corner units as a typical multifamily complex. Each of the six three-story buildings at Sycamore at Tyvola will include 28 corner units with panoramic views.

    Apartment units will range in size from 792 sf to 1,211 sf and include granite countertops, a tile backsplash, stainless steel appliances, and walk-in closets. Community amenities will include a rock garden, pond, walking trail, swimming pool, and a putting green. The on-site fitness facility includes a yoga and barre studio and a spin studio with on-demand classes available to residents.

    Urbanik interiors designed the clubhouse and common areas in the apartment buildings. Sycamore at Tyvola will open for tours and leasing opportunities in mid-April 2018.

  • April 3, 2018
    - Luxury apartments nearing completion in Southwest Charlotte

    The article below regarding RSR State College LP: Fraser Centre was posted on www.mecktimes.com, it can be found HERE

    BY Staff Report 2018-04-03

    Luxury apartment community, Sycamore at Tyvola, will soon open to new residents seeking elegance and tranquility in Southwest Charlotte. The gated community of 288 one- and two- bedroom units will feature upscale amenities, controlled access, elevator service, yoga, barre, and spin studios, a pool, and expansive green space, offering residents a community designed with leisure ...

  • April 2, 2018
    - Hundreds of new luxury apartments are coming soon to a new part of Charlotte

    The article below regarding RSR State College LP: Fraser Centre was posted on www.charlotteobserver.com, it can be found HERE

    BY ELY PORTILLO 2018-04-02

    A new apartment development near West Tyvola Road and South Tryon Street is opening soon, the latest in an apartment boom that shows no signs of stopping.

    Sycamore at Tyvola will include 288 one- and two-bedroom apartments, and developer Switzenbaum & Associates plans to start tours and leasing in mid-April. Stretching across 32 acres, the buildings have been "designed with leisure and privacy in mind," a representative said.

    The projected rents at the new building weren't available Monday. At the adjacent Tyvola Centre apartments, also owned by Switzenbaum, rents range from $955 to $1,340 per month.

    Apartments in Sycamore at Tyvola will range in size from 792 to 1,211 square feet. Amenities are geared toward the high end and will include studios for yoga, barre and spin classes, a pool, putting green, walking trail and rock garden. Features in the apartments include stainless steel appliances, granite countertops and walk-in closets. The common spaces will also feature commissioned works from artist Sally Heller, "whose work ties into the themes of nature and tranquility found throughout Sycamore at Tyvola."

    “We are building in one of the most dynamic neighborhoods in Charlotte, and we are excited to have the opportunity to add such a uniquely-designed community for residents here," said developer Sam Switzenbaum in a statement.

    The $52 million project was funded in part with money from EB-5 investors, a program that allows foreign investors to receive permanent residency in the U.S. in exchange for investments in new projects. Other apartment projects in Charlotte, such as Blu at Northline, have also been funded by EB-5 investors, who typically make $500,000 to $1 million investments in exchange for visas. They typically receive below market rates of return on their investments, making the visas a cheap, though often controversial, way for investors to finance projects.

    According to RSR EB-5 Regional Center, a company also headed by Switzenbaum, EB-5 investors put $10.5 million into the Sycamore at Tyvola project. Regional centers are the entities that pool EB-5 money for investors.

    Charlotte's apartment boom is still in full swing, with 27,000 new apartments planned or under construction. Despite the flood of new apartments, vacancy rates remain low, with almost 94 percent of units occupied, as population growth fuels the market. Rents have hit a new record high of $1,142 this year.

    At Sycamore at Tyvola, Schwam Architects and NarmourWright are the architects and Urbanik is the interior designer.

  • February 12, 2016
    - Switzenbaum & Associates Funds $15.5M Loan for Mixed-Use Development in State College

    The article below regarding RSR State College LP: Fraser Centre was posted on www.REBusinessOnline.com, it can be found HERE

    By AMY WORKS 2016-02-12

    STATE COLLEGE, PA. — RSR EB-5 Regional Centers (RSR), an affiliate of Switzenbaum & Associates, has funded a $15.5 million loan for the financing of a ground-up construction mixed-use property in State College, through the U.S. Citizenship and Immigration Services (USCIS) EB-5 immigrant investor program. The interest-only loan is in conjunction with a $26.5 senior construction loan from Fulton Bank, which provided the remainder of the required debt for the project. Originally structured for 30 investors, the project opened an additional spot to due increased demand. While USCIS requirements for EB-5 stipulate that a minimum of 10 new jobs must be created for every investor, this project’s construction and operation will create an estimated 521 jobs. The borrower, Fraser Partners, an affiliate of Real Estate Capital Management and Brickbox Enterprises, will use the funds to construct The Fraser Centre, a 265,000-square-foot mixed-use project on the crest of Pennsylvania State University’s main campus. Slated for completion this fall, the development will feature 50,000 square feet of retail space, a 165-room Hyatt Place Hotel and 26 residential condominiums.

  • May 22, 2012
    - People in the News

    The article below regarding RSR State College LP: Fraser Centre was posted on www.philly.com, it can be found HERE

    By PHILLY.COM 2012-05-22

    Stephen E. Markert Jr. has been hired by Philadelphia-based Switzenbaum & Associates as chief operating officer and chief financial officer, and as a partner of the real estate development and management firm. He most recently was CEO of Vitacost.com in Boca Raton, Fla., and served 11 years as chief financial officer of C & D Technologies in Blue Bell.

    SteegeThomson Communications, a Philadelphia agency specializing in marketing and development communications for nonprofit organizations, hired Denise H. Portner as a senior vice president. She had been senior vice president in public relations at Tierney.

    The law firm of Caroselli, Beachler, McTiernan & Conboy, named Thomas More Marrone as a partner in its Philadelphia office. Marrone was previously at Feldman Shepherd, where he was the head of the firm’s complex litigation and class action department.

    CMF Associates L.L.C., a Philadelphia provider of services to private equity, middle-market, and smaller public companies, named Robert Rostron a director in the firm’s financial and operational consulting group. He had been an M&A director at Deloitte & Touche L.L.P. within the firm’s partner group in New York City.

    Andrew Lovell was appointed associate director of industry relations for Temple University’s School of Tourism and Hospitality Management. He had been sales director at the Adventure Aquarium and Currents Ballroom.

    Alex’s Lemonade Stand Foundation, a Philadelphia nonprofit dedicated to finding cures for children with cancer, hired Michael A. Golden as director of finance and administration. Golden had been chief financial officer and director of consulting at Solutions for Progress in Philadelphia.

    Tony Bevacqua joined the local office of KPMG L.L.P., the U.S. audit, tax, and advisory firm, as a principal in the firm’s financial management consulting group.

    Doylestown law firm Curtin & Heefner L.L.P. named trial attorney Carolyn M. Angelaccio a partner of the firm. Angelaccio focuses her practice on civil litigation with an emphasis on insurance matters, private disability claims and Social Security claims.

    Rene J. Alvarez Jr. joined Temple University Hospital as vice chief of cardiology and medical director of the Heart Failure/Cardiac Transplantation Program, professor of medicine and assistant dean for minority faculty at Temple University School of Medicine. She had been director of the Heart Failure Outreach Network at the University of Pittsburgh Medical Center.

    The Training Resource Group Inc., a Philadelphia provider of sales training, hired Juan Dominguez as vice president. He is a former councilman for Bogota, N.J., and commissioner on the Bergen County Utilities Authority. He also was an officer in the Army. He had been a district manager in Philadelphia for SimplexGrinnell, a Tyco subsidiary.

    Comcast Cable, Philadelphia, promoted Melanie Penna to senior vice president of human resources service delivery from vice president of human resources.

    New Day Underwriting Managers L.L.C., of Bordentown, promoted Jeff Slivka to chief operating officer. He will continue in the role of executive vice president at the specialty environmental and construction-related professional liability coverage firm.

  • May 17, 2012
    - Switzenbaum & Associates Names Stephen E. Markert, Jr. As COO & CFO

    The article below regarding RSR State College LP: Fraser Centre was posted on www.philly.citybizlist.com, it can be found HERE

  • October 27, 2011
    - Center City garage installs vehicle charging stations

    The article below regarding RSR State College LP: Fraser Centre was posted on www.philly.com, it can be found HERE

    By PHILLY.COM 2011-10-27

    Parametric Associates L.L.C. said it completed installation of eight electric car charging stations in its Convention Center Garage at 11th and Arch Streets in Center City.

    The installation is a first for a public garage in Philadelphia, the company said. Each stations can service two cars at a time. The 706-car garage also serves the Hilton Garden Inn Hotel.

    Parametric Associates said in a statement that it expects to expand the service for plug-in autos as more consumers acquire electric vehicles. Access to charging stations helps relieve so-called range anxiety of consumers considering electric vehicle purchases.

    Mayor Nutter called the installation "an example of how diverse stakeholders can play a role in helping to make Philadelphia a leading green city." - Reid Kanaley

  • October 18, 2011
    - Electric Car Chargers Ready for Action at Convention Center Garage in Philadelphia

    The article below regarding RSR State College LP: Fraser Centre was posted on www.buzzcommunications.biz, it can be found HERE

    By BUZZCOMMUNICATIONS 2011-10-18

    Philadelphia, October 18…..Parametric Associates LLC, has announced it has just completed installation of eight electric car 2-plug charging stations – able to service up to 16 cars at a time - in its parking garage at The Convention Center Garage at 11th and Arch Streets which also services guests of the Hilton Garden Inn Hotel.

    This is the first public garage in the Philadelphia region to offer this service to drivers says Josephine Wang, executive vice president of Switzenbaum & Associates, which is an affiliate of Parametric Associates.

    “We are still in the infancy stages of this industry,” she said. “We feel that as more drivers become aware of need to reduce America’s dependency on foreign oil – they will want to purchase electric cars which will need charging stations in central location that are easily accessible.” The 706-car parking facility is near the Reading Terminal Market, the Pennsylvania Convention Center, The Gallery Shopping Mall and the Market Street Commercial District east of Philadelphia’s City Hall.

    "This is a great example of how businesses are helping to keep Philadelphia on the cutting edge of green technologies," said Mayor Michael A. Nutter. "The City of Philadelphia is proud of its innovative private sector that is willing to support early adopters of alternative fuel vehicles. The commitment of the Convention Center Parking Garage is an example of how diverse stakeholders can play a role in helping to make Philadelphia a leading green city."

    “We put the cart before the horse to offer a convenient, secure 24/7 access,” to drivers of energy efficient cars for their car charging needs. ” said Wang. Parametric Associates expects to expand these capabilities in the next year as more consumers acquire electric cars.

    The quick-charging stations installed at the Convention Center Garage are convenient to use and allow drivers to “fuel-up” while their autos are not in use. “We expect to install additional quick car charging stations as the market demands.”

    A battery-only electric vehicle or all-electric vehicle derives all its power from its battery packs and has no internal combustion engine, fuel cell, or fuel tank. In 2011 several auto manufacturers introduced battery-operated cars in the United States and claim that there is an increase in pre-orders as consumers hit sticker shock at gas stations. Plug–in auto manufacturers brag that most EVs can travel between 50-150 miles before a need to be recharged making them a perfect alternative for urban commuters that prefer the convenience of cars to public transportation.

    Parametric selected Coulomb Technologies because it is the leading electric vehicle charging (EV) solutions company says Wang. Powering smart cars, or EVs, needs to be convenient, quick and easy, not a lengthy process. Access to charging stations, as in the Parametric Garage, helps to relieve “range anxiety” of consumers.

    Coulomb recently introduced its ChargePoint Network, the largest global online network connecting electric vehicle drivers to unoccupied charging stations in over 14 countries. ChargePoint offers EV owners flexible payment options, 24/7 driver support and mobile phone applications, which include station locations, turn-by-turn navigation and availability.

    Philadelphia-based Switzenbaum & Associates is the developer of Hilton Garden Inn at 1100 Arch Street and the Parametric Associates garage. It is a fully integrated real estate investment, development and management company with an emphasis today in developing and investing in multi-family apartments.

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255 South 17th Street, 20th Floor
Philadelphia, PA 19103

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