Liz Bradley - Energy Real Estate Solutions, LLC

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ERES Continues Texas Expansion into Houston

By | ERES News | No Comments

Vice President Patrick Kelly has been hired to enhance ERES’ boots-on-the ground brokerage services throughout Houston

 

PatrickKelly_WebHOUSTON, TX — October 2, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today it is further expanding its Texas presence with the addition of a key brokerage position based in Houston. Patrick Kelly has joined ERES as Vice President to enhance the firm’s boots-on-the-ground brokerage services throughout Houston and Texas energy markets.

This marks the company’s second Texas-based brokerage addition in the last three months, adding a Managing Broker to its Midland team in May. Kelly’s hire further sharpens ERES’ focus and strategy in Texas energy markets, where the company has already completed a significant number of brokerage, construction and property management projects through its Fort Worth and Midland office locations.

“Pat’s history and knowledge of the Houston market and energy sector allows ERES to better serve our existing and future clients throughout the state of Texas,” says Mike Elliott, ERES Founder & Managing Principal. “We now have an increased ability to provide full-scale, on-the-ground real estate services in one of Texas’ largest and most active markets.”

Kelly joins ERES with over 18 years of commercial brokerage and development experience, specializing in the acquisition, disposition, development, construction, evaluation and underwriting of investment grade real estate. A vast background in Houston markets and the energy sector, his focus is providing brokerage services for office and industrial properties in the 5,000 to 50,000 square foot range. In addition, Kelly provides ERES clients with extensive experience in the site selection, valuation and acquisition of raw land.

Kelly can be reached at patrick.kelly@energyreco.com or (281) 923-4303. ERES has four additional offices geared toward other emerging and developed energy markets located in Denver, CO (HQ), Fort Worth, TX, Midland, TX and Williston, ND. Go to www.energyreco.com/contact to learn more.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

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ERES Announces Call For Offers on High-Return Bakken Multifamily Investment

By | Real Estate News, The Bakken | No Comments

Pheasant Run Apartments is located in the Bakken economic hub of Williston, ND and is comprised of 48-units on 1.9 AC

multifamily investment

 

WILLISTON, ND — September 25, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a 48-unit high-return Bakken multifamily investment.

Pheasant Run Apartments is an exclusive investment opportunity ideally located in Williston, ND, the economic hub of Bakken oil activity and an area currently experiencing increased housing demand.

bakken investment property

Positioned amidst Williston’s recent transportation improvement projects and near the new Williston High School, the smoke-free apartment complex boasts a desirable and accessible location. It offers easy access to area retail, dining, highways and Sloulin Field International Airport.

The property consists of two, three-story, 24-unit garden level apartment buildings on 1.9 acres. The units provide a variety of floorplans and are ideal for energy industry workers and their families.

Unit Breakdown:

  • Studio/One bath | Three units
  • One bed/One bath | Nine units
  • Two bed/One bath | 36 units

OFFER DEADLINE
Tuesday, October 16th at 5:00 p.m. MST

DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement.

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
  • CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota energy markets are experiencing a rapid influx of service workers which is increasing area housing demand. With this demand inching toward outweighing supply, the Badlands II multifamily portfolio is well-positioned as an investment with high-return potential.
  • STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken multifamily vacancy rates shrink to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, multifamily investors now have a strong opportunity for future returns.

PROPERTY CONTACTS
Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

 

BlogHeader_News_2017

ERES Founder & Managing Principal Discusses Bakken Commercial Real Estate Upswing

By | Real Estate News, The Bakken | No Comments

ERES Founder & Managing Principal Mike Elliott was featured today in the Williston Herald providing his boots-on-the-ground insight into the continued upticks in Bakken commercial real estate activity.

Apartment Units Almost Full Again

Commercial real estate market in Williston is poised to take off again

Vacancy rates went up quite a bit during the downturn, stoking fears that the multifamily sector had overbuilt for the long-term need in the Williston region. However, with crude oil prices in the $60 range, Williston apartments have filled up fast.

“Lots of people have gotten hired,” said Mike Elliott, founder and managing principal of Energy Real Estate Solutions. “We manage about 4,000 multifamily units in the (Bakken) market, and I think our average for our portfolio is 92 percent occupancy. A year ago, or even two, you were definitely in double digits as far as vacancies go, and some (multifamily) had really big vacancies.”

bakken commerical

 

BlogHeader_News_2017

ERES Nominated for 2018 Consultancy of the Year Oil & Gas Award

By | ERES News | No Comments

ERES has been selected as a finalist in the 6th Annual Rocky Mountain Oil & Gas Awards

 

eres nominatedDENVER, CO — August 14, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today it has been nominated for Consultancy of the Year at the 2018 Rocky Mountain Oil & Gas Awards.

Since 2012, the Oil & Gas Awards seek out the best companies who push the energy industry forward when it comes to the core values of operational excellence, health and safety, corporate social responsibly and environmental stewardship. The awards are broken into four regional boundaries and 25 nomination categories, with winners chosen by a panel of over 100 senior energy executives.

ERES has been nominated in the Rocky Mountain region for the category of Consultancy of the Year. This award recognizes premier third-party consultancy services provided to upstream, midstream and downstream companies. ERES was selected as a finalist by demonstrating an impressive record of delivering innovative, original and consistent third-party advice on strategy, project delivery and execution to energy companies in the Rocky Mountain region.

“It’s an honor to be nominated by the Oil & Gas Awards as Consultancy of the Year” says ERES Founder & Managing Principal Mike Elliott. “Being recognized as a valuable partner is so important to us because we understand how difficult and time-consuming shale play real estate can be for energy companies, especially in rural markets. Our main goal has always been to provide clients with the boots-on-the-ground insight into these markets that are so critical to the success of their business…ensuring positive returns and continued opportunities.”

The 2018 Rocky Mountain Oil & Gas Awards winners will be announced at a gala dinner held August 21st in Denver, CO. The full list of finalists can be viewed here.

To learn more about Energy Real Estate Solutions, please visit www.energyreco.com.

ABOUT ERES

Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

BlogHeader_Call For Offers

ERES Announces Call For Offers on Exclusive Bakken Multifamily Investment Portfolio

By | Real Estate News, The Bakken | No Comments

The Badlands II portfolio contains four apartment properties totaling 14 buildings and 504 units located in Dickinson, Minot, Tioga and Watford City, ND

multifamily investment

 

WESTERN NORTH DAKOTA  — August 13, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a premier, high-return Bakken multifamily investment portfolio.

The Badlands II multifamily portfolio is an exclusive investment opportunity featuring four high-end, quality-built apartment communities ideally located in western North Dakota in the heart of Bakken oil activity, a market experiencing increased housing demand.

bakken investment property

The portfolio is only five years old and contains 14 buildings with 504 spacious apartment units and 561 detached garage units. The portfolio was employee housing, however the units have all been opened to the public. Unit layouts and garage types vary per property, but contain the following:

  • One bed/One bath
  • Two bed/Two bath
  • Three bed/Two bath
  • One-car garage
  • Two-car garage

Each property is well-located in its respective market near to area shopping, dining, schools, parks, airports, hospitals and highways. These high-end properties offer numerous amenities and are poised to offer a high investor return. The investment offering can be sold as a full portfolio or per property.

OFFER DEADLINE
Monday, September 10th at 5:00 p.m. MST

DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement.

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
  • CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota energy markets are experiencing a rapid influx of service workers which is increasing area housing demand. With this demand inching toward outweighing supply, the Badlands II multifamily portfolio is well-positioned as an investment with high-return potential.
  • STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken multifamily vacancy rates shrink to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, multifamily investors now have a strong opportunity for future returns.

PROPERTY CONTACTS
Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

 

BlogHeader_Call For Offers

ERES Announces Call For Offers on High-Return Bakken Investment Property

By | Real Estate News, The Bakken | No Comments

Long X Mobile Home Park contains 82-units on 17.81 AC and is ideally located in Watford City, ND, a Bakken economic hub

 

bakken investment property

WATFORD CITY, ND  — August 8, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a premier, high-return Bakken investment property.

Long X Mobile Home Park located in Watford City, ND, consists of 82 quality mobile home units and is situated on 17.81 AC. The in-demand property offers an incredible investment opportunity due to its location in a major Bakken oil and gas hub, an area currently experiencing rapid economic growth and high workforce housing needs.

bakken investment property

OFFER DEADLINE
Tuesday, August 28th at 5:00 p.m. MST

DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement (download HERE) sent to Melinda O’Brien at melinda.obrien@energyreco.com

INVESTMENT HIGHLIGHTS

  • CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Watford City is experiencing a rapid influx of oilfield service workers which has created a significant shortage of affordable housing. With current demand high, and projected to increase, Long X Mobile Home Park is well-positioned as an investment with high-return potential.
  • OIL PRODUCTION CAPITAL OF NORTH DAKOTA: McKenzie County is the largest oil producing county in North Dakota, making it a main Bakken economic hub. Within 30 miles of Watford City there are well over 4,800 oil wells. This is the largest number of wells of any North Dakota city over 5,000 people.
  • ROBUST DEMOGRAPHICS: Watford City (McKenzie County) is undoubtedly an economy on the rise. As of May 2018, the unemployment rate sits at only 1.5%, 0.7% decrease from the previous year. As of July 2018, apartment occupancy sits at 95.4%, a 14.9% increase from the previous year. And finally, taxable sales and purchases in 2018Q1 increased an incredible 28.89% from the previous year. Outlooks for continued market economic growth remain bullish as oil pricing continues to increase.

PROPERTY CONTACTS
Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

BlogHeader_News_2017

Relief Fund Raising Money for Watford City Tornado Victims

By | Uncategorized | No Comments

ERES is one of several companies that has donated and encourages other local businesses to do the same

 

Photo by Mike McCleary, Bismarck Tribune

Photo by Mike McCleary, Bismarck Tribune

Watford City, ND (AP) —  Nearly $100,000 has been raised so far to help people affected by a deadly tornado that hit Watford City in western North Dakota.

A local relief fund set up by the North Dakota Community Foundation will go directly to families impacted by last week’s storm, McKenzie County Emergency Manager Karolin Jappe told the Bismarck Tribune.

The tornado that tore through a recreational vehicle park in Watford City early July 10 killed a newborn baby, injured more than two dozen people and displaced about 200. One injured woman is expected to remain hospitalized in Montana for at least another month, according to Jappe.

The community is working to raise funds to help people with medical bills, housing expenses and other needs. Lutheran Social Services will determine who is eligible to receive aid and money will be sent to families through the North Dakota Community Foundation. Several energy service companies, including Energy Real Estate Solutions, have made donations and are asking others to please do the same.

A recovery team from the American Red Cross Dakotas Region is also reaching out to those affected by the tornado, said spokeswoman Gretchen Hjelmstad. The agency is providing people financial aid, mental health support and connections to other resources, she said.

Meanwhile, a GoFundMe account for the family of the 1-week-old baby who died has raised more than $27,000 as of Tuesday.

Ways to donate to the Watford City tornado relief fund:

Click HERE to view the original AP story.

BlogHeader_News_2017

ERES Founder & Managing Principal Mike Elliott to Speak at 2018 Bakken Conference & Expo

By | ERES News | No Comments

Elliott is the only commercial real estate expert presenting at the premier three-day shale oil event

 

bakken real estate

ERES Founder & Managing Principal Mike Elliott

Watford City, ND — July 12, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today Founder & Managing Principal Mike Elliott will be speaking at the 4th annual Bakken Conference & Expo, one of North Dakota’s premier shale oil events, taking place July 16-18 in Watford City, North Dakota.

Elliott will be presenting on the Bakken 2.0 panel, examining the new realities for real estate, roads and community enhancement in the Bakken shale play. Joining Elliott on the four-person panel are Williston Economic Development Director Shawn Wenko, The Renaissance Companies Building Manager Muriel Lippert and Executive Director of Watford City Economic Development Daniel Stenberg.

During his portion Elliott will highlight key observations related to the impact of oil prices on real estate supply, demand, pricing, and development. Attendees will walk away with practical examples of how those entrenched in the energy real estate landscape can minimize risk whilst capitalizing upon current and future opportunities.

“The news about the historic rise in U.S. oil production is everywhere you turn, and North Dakota real estate owners and investors are right to expect profitable times,” says ERES Founder & Managing Principal Mike Elliott. “Markets have stabilized, capital is coming into core markets, and we are now entering an upswing where Bakken real estate assets are experiencing lowered inventories and increased demand.”

Elliott has over 25 years’ experience in the real estate industry, specializing in the energy industry with an emphasis on key shale plays such as the Bakken. He has become a go-to expert in North Dakota real estate markets, offering deep knowledge and expertise in the various ways energy activity positively, and negatively, impacts real estate investments and development.

For full Bakken Conference & Expo information, including the three-day agenda, visit www.thebakkenconference.com.

ABOUT ERES

Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

 

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

BlogHeader_News_2017

ERES Expands West Texas Presence with the Addition of Key Brokerage Position

By | ERES News | No Comments

New Texas Managing Broker position will increase ERES’ on-the-ground brokerage capabilities throughout Permian energy markets

 

PearsonDavidMidland, TX — May 31, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today the addition of a newly created brokerage position based out of the company’s Midland, TX office. David Pearson has joined ERES as Texas Managing Broker to support the company’s brokerage division, focusing on business development and activity throughout the Permian Basin and West Texas energy markets.

Pearson’s addition further sharpens ERES’ focus and strategy in Texas energy markets, where the company has already completed a significant number of brokerage, construction and property management projects through its Fort Worth and Midland office locations.

“West Texas markets, like Midland, continue to be extremely active hubs of energy activity for the southern part of the United States,” says Mike Elliott, ERES Founder & Managing Principal. “By establishing this new brokerage position and adding David to the team, ERES now has an increased ability to provide full-scale, “boots-on-the-ground” real estate services across Texas.”

Pearson joins ERES with over 15 years commercial brokerage experience, specializing in the acquisition, disposition, development and maintenance of commercial and unimproved properties. He adds unique value to current and future clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry.

“David is an engaged real estate partner who provides highly focused client services in energy markets that are consistently fluctuating,” says Elliott. “His strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation.”

Prior to joining ERES, Pearson ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate Broker in Texas since 2005. Pearson has also held broker licenses in Arkansas, New Mexico and Oklahoma.

Pearson will be located at 303 West Wall Street, Suite 1002 in Midland in the epicenter of downtown business activity.  ERES has three additional offices geared toward other emerging and developed energy markets located in Denver, CO (HQ), Fort Worth, TX, and Williston, ND.

To learn more about David Pearson and Energy Real Estate Solutions, please visit www.energyreco.com.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

BlogHeader_News_2017

ERES Joins Williston Economic Development Week Panel Discussion

By | ERES News | No Comments

Broker Deano Vass to review the City’s economic atmosphere at The Retail Summit on May 9th

 

Vass_DeanoWilliston, ND — May 8, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, has announced its participation in Williston Economic Development Week as ERES Broker Deano Vass joins the panel discussion “Williston’s Economic Atmosphere” at The Retail Summit on Wednesday, May 9th.

Organized by the City of Williston, The Retail Summit is designed to attract new businesses and support current retailers in the Williston Trade Region. During this free event, held 7:30 am to 11:30 am, panelists will discuss marketing techniques for local business, available commercial space for lease or purchase, financial incentives for new businesses and the demographics of Williston shoppers.

“With Bakken oil production activity reaching historic levels we are definitely seeing increased demand for commercial space across Williston,” says ERES Broker Deano Vass. “Retailers who want to buy or lease space need to act fast, and know where to look, while there is still inventory on market.”

Vass has over 35 years’ of commercial real estate experience and deep insights into various facets of the industry. Based in Williston, his knowledge of North Dakota and, specifically, the Bakken area has provided ERES with an increased ability to provide knowledgeable, on-the-ground brokerage and real estate consulting to clients from all sectors in this challenging market.

To learn more about Energy Real Estate Solutions, and to search area commercial real estate listings, please visit www.energyreco.com.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com