Fidelis Realty Partners recently hired Kenady Davis, Ford Allen, and Trey Waggener to launch Fidelis Residential, a multi-family division within Fidelis Realty. The new division will concentrate on new multi-family development and acquisitions in strategic locations in Houston and other major Texas markets.

“Kenady, Ford, and Trey bring considerable residential experience and energy to Fidelis and were a perfect fit to start our Residential Division,” said Alan Hassenflu, Fidelis President and CEO. “They each have a well-established background in developing multi-family properties. We are thrilled to announce our new division and have these three at the helm.”

The new partnership will leverage the reputation of Fidelis Realty Partners, which owns, manages and leases a commercial retail property portfolio of over 13 million square feet. Fidelis operates over 60 properties in 10 cities and 5 different states (Texas, New Mexico, Louisiana, Tennessee, Colorado). Over half of the properties are in the greater Houston metropolitan area where Fidelis is headquartered. “Our markets and projects are large enough to have a dedicated Fidelis Residential Division with local leadership to add to its core competency of maximizing the value of its retail real estate. The mission would be to maximize the value of its residential real estate,” said Mr. Alan Hassenflu, President and CEO of Fidelis Realty Partners.

“People want to live near shopping and restaurants,” said Mr. Davis. “The new Residential Division will look for opportunities to develop apartments within Fidelis’ retail projects which will allow us to capitalize on the value and foot traffic that the retail has created. I think it makes sense to develop both asset types within the same office.”

Fidelis Residential will apply an ‘acquire and hold’ strategy in keeping Fidelis’ overall strategy and mission, thereby creating long-term investments for consistent income and growth.

“We have always been believers in the long-term growth and favorable business climate of the Houston area,” said Mr. Allen. “Fidelis has a history of forming relationships with equity partners who share that same view. We are excited to now be able to offer our partners the opportunity to invest in the multi-family space.”

Mr. Davis is Vice President of Acquisitions, Dispositions & Pre-Development and will direct and lead all land site selection, property acquisitions, and property dispositions. Mr. Allen is Vice President of Analysis, Finance & Pre-development and will be responsible for analyzing and qualifying potential investment opportunities related to new multi-family developments and acquisitions of multiple asset classes. Prior to Fidelis Residential, Davis and Allen worked at BHW Capital, a boutique development and consulting firm that specialized in multi-family development.

Mr. Waggener has been employed at Fidelis Realty Partners for just over a year working primarily in retail development. Prior to Fidelis, he developed both single and multi-family projects in major Texas markets. He will begin shifting out of his current retail duties to lead the Fidelis Residential team. Mr. Waggener is Vice President of Design, Development & Construction, and Division Manager and will primarily direct and lead all development, re-development, and construction management operations.

According to Waggener, “creating a residential division is something Alan and I have discussed for a couple of years. The timing was right to bring on Kenady and Ford and officially launch the new division.”