SANDY, UT – MAXX Properties announced the acquisition of The Ridge, a 261-unit, 4-story luxury apartment community near Sandy Utah. The Ridge boasts commanding views of the Wasatch and the Oquirrh mountain ranges.
The Ridge offers modern one-, two-, and three-bedroom apartments. These luxury homes were built in 2018 and feature tech-forward amenities and a nod to the sustainable lifestyle Salt Lake City is known for with energy-saving appliances, LED lighting, and a bike repair station. Communal amenities include a clubhouse with a 24-hour fitness center, swimming pool, fire pit, BBQ stations, and a card-key controlled parking garage. The community is directly across the street from a lifestyle shopping complex with a half dozen upscale dining outlets as well as a state-of-the-art cinema.
Salt Lake City is often rated a best place to live thanks to quality of life factors, affordability, and booming employment sectors. Salt Lake City is also synonymous with outdoor recreation and these Sandy Utah apartments are just a 20-minute drive from world-class of ski destinations and hiking trailheads. They are also conveniently situated near Interstates 15 and 215 and just 12 miles south of downtown Salt Lake.
The Ridge is an accretive acquisition to our Salt Lake City portfolio, said Rick Wiener, Chairman of MAXX Properties. Our family business has been conducting business in Salt Lake City since the late ‘90s and Utah still has the quality of life and attraction it had a quarter-century ago. We anticipate continued strong fundamentals in Salt Lake City bolstered by a growing trend by employers and individuals alike to live and work in places connected directly to the great outdoors.
The Ridge was partially capitalized through a long-term, fixed-rate mortgage loan provided by New York Life Insurance Company.

RICHMOND, VA – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Hunter’s Chase Apartments in the desirable Chesterfield County submarket of Richmond, Virginia. The group purchased the property in 2017.
During their ownership, Hamilton Zanze completed a successful unit renovation campaign, an office and gym renovation, landscaping improvements, siding replacement and paint, balcony and deck repairs, and asphalt improvements.
“Hunter’s Chase is one of our early northeast acquisitions. In a partnership with Aegon Asset Management, over $8.5 million in property improvements were completed. Some of these improvements included a property-wide siding replacement, unit renovations, club house upgrades, and full window replacements. HZ’s asset and project management teams were able to complete all property improvements within three years of acquisition,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “The Hunter’s Chase investment returns exceeded initial expectations and occurred in just five years, versus the projected 10-year hold period. We are grateful for our partnership with Aegon, who shared the same vision in realizing the upside in the property.”
Hunter’s Chase was built in 1986 and is located at 5200 Hunt Master Drive in Midlothian. The property comprises 320 one-, two-, and three-bedroom units averaging 816 square feet. The community features a resort-style swimming pool, 24-hour fitness center, tennis courts, self-service car wash, and two playgrounds with a rock-climbing wall.
Hunter’s Chase is located just over 18 miles southwest of Downtown Richmond in the Chesterfield County submarket. Richmond’s diverse economy is built around a mix of healthcare, government, and finance jobs. Major Richmond-area employers include Philip Morris USA, Amazon.com, the U.S. Department of State, the United States Postal Service, HCA Virginia Health System, Wal-Mart Stores Inc., and Anteon Corporation. Due to Chesterfield County’s central location and excellent transportation infrastructure, the region has become a manufacturing and distribution hub, home to the headquarters of major manufacturers like DuPont and Honeywell, Inc.

NEW YORK, NY – MC Real Estate Partners MCRE) and Tokyo Trust Capital (TTC) announced the acquisition of The View on Nob Hill Apartments, a 416-unit apartment complex ideally located in southern Westchester County, NY through on off-market transaction on behalf of a large Japanese financial institution. With demand for stabilized investments in the US increasing, MCRE and TTC expect that this is the first of a series of investments in the multi-family segment tailored to their Japanese capital relationships.
The apartment complex, situated on 24 acres overlooking the Saw Mill River Parkway in Elmsford, N.Y., was acquired from an Ares Management investment fund. Currently 97% leased, The View on Nob Hill represents one of the best located apartment complexes in the county, with 20% of the apartments targeted for families earning 60% of the area’s median income. The property provides unparalleled access to the Saw Mill River and Sprain Brook Parkways, Interstate 287 and the New York Thruway, and is surrounded by a multitude of shopping and dining options. The White Plains and Tarrytown Metro North stations are each less than a ten-minute drive away. On-site property management services will continue to be provided by Lincoln Property Company.
This transaction is the third collaboration between MCRE and TTC, and their first multifamily deal together. MCRE continues to grow its multifamily activities as a complement to its already strong office property footprint in the New York, Boston, and D.C. markets. TTC, which is currently completing a large multi-family portfolio acquisition in Japan, makes its first foray into U.S. multifamily with The View on Nob Hill deal.
“MCRE targets acquisitions that precisely reflect the investment objectives of our institutional and private capital relationships. When TTC reached out to us about this mandate and we began the search process with both brokers and principals on the sell side, we quickly identified The View on Nob Hill as an ideal fit. Ares has done a terrific job restoring the property to its proper place as an important, mid-market option in Westchester. We look forward to building upon their efforts to provide solid and attractive housing for the residents,” said Andy Nathan, managing principal of MCRE. “We are thrilled to be completing our third transaction with our friends and colleagues at TTC. Our activities together across markets and property types showcase the nimble approach we bring to solving the needs of our investment partners, including those overseas, to whom we bring both local expertise and a unique understanding of cross-border transactions.”
Minoru Machida, CEO of TTC added, “TTC is happy to see yet another successful investment of Japanese capital in the US real estate market. The US real estate market is very attractive to Japanese investors due to unparalleled transparency and liquidity, backed by the most vibrant economy in the world. With the help of our dear friends at MCRE, we look forward to making more investments not only in multifamily but also in office and other asset types in key markets in the US.”

RALEIGH, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and a developer of mixed-use multifamily communities, announced it has broken ground on 320 West South Street, a luxury mixed-use high-rise apartment tower located in the Warehouse District of Raleigh, North Carolina within a qualified opportunity zone. Construction of the development is expected to be completed by summer 2024.
“We couldn’t be more excited to begin construction on 320 West South Street, a truly elevated property that will transform the surrounding neighborhood, bringing vitality and elegance to downtown Raleigh’s Warehouse District,” said Whit Huffman, chief strategy and investment officer. “This property will provide exceptional amenities for residents, who will enjoy the vibrant social lifestyle provided by the nearby galleries, art studios, restaurants and the city’s largest park.”
The 20-story, high-rise community will feature 297 apartment homes and more than 10,000 square feet of ground-floor retail space. A spacious double height resident lobby will lead to approximately 30,000 square feet of amenity space and an attached garage with multiple-floor access will provide parking for residents and their guests. Onsite amenities will include a resort-style swimming pool, rooftop lounge, coworking space and state-of-the-art fitness center. The apartment mix will consist of studios and one-, two- and three-bedroom units, each outfitted with stainless steel appliances, exposed concrete ceilings, tile and luxury vinyl flooring, modern wood cabinets, and sophisticated lighting fixtures.
Situated at the intersection of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, 320 West South Street will be one of only a handful of luxury apartment communities in the downtown submarket. It will sit at the epicenter of a thriving part of downtown Raleigh, within easy walking distance of multiple entertainment venues, cultural sites, nightspots, and dining options, as well as the RedHat Amphitheater and Raleigh Convention Center. Located adjacent to U.S. 70, the property offers ready access to The Research Triangle and North Carolina’s well-known educational institutions, including Duke University, the University of North Carolina at Chapel Hill and North Carolina State University.
“Raleigh’s Warehouse District is in the midst of a fundamental transformation from an industrial area to a vibrant and exciting urban center,” explained Adam Stifel, chief development officer. “320 West South Street will provide residents uncanny views of the downtown Raleigh skyline and Red Hat Amphitheater.”
Capital Square has partnered with JDAVIS Architects as building architect, W. M. Jordan Company as general contractor and York Properties as the retail leasing agent for the property. The design team also includes Architecture Firm as interiors designer and EDSA as landscape designer.
Development of 320 West South Street will be primarily funded with proceeds from Capital Square’s sixth qualified opportunity zone fund, CSRA Opportunity Zone Fund VI, LLC, which raised more than $48 million from accredited investors. Capital Square recently launched CSRA Opportunity Zone Fund VII, LLC to fund the development of a luxury multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia. Capital Square’s opportunity zone funds have initiated over $330 million in development value to-date.

CUMMING, GA – Leading national multifamily real estate developer Wood Partners announced the groundbreaking of its latest high-end residential community, Alta North, less than an hour from downtown Atlanta in Cumming, Georgia. The new community will be developed as a joint venture with CP Capital US, a highly disciplined U.S. real estate manager specializing in multifamily investments. It is scheduled to open in late 2023 with pre-leasing officially starting in Fall 2023.
Situated at the intersection of GA 400 and Settingdown Circle in Forsyth County, Alta North will provide future residents with an array of nearby dining and retail options, as well as access to Atlanta’s city center less than an hour away. The forthcoming community will be part of a larger planned development, which will bring more than 15,000 sq. ft. of commercial space and a new public road connecting the adjacent residential development to the north to Settingdown Circle.
“Atlanta has been one of the country’s best performing rental markets since the onset of the pandemic, due to the region’s strong economic growth and in-migration,” said Kristi Nootens, Vice President of Investments at CP Capital US. “We are excited to continue our long-standing partnership with Wood Partners to deliver a top-tier multifamily project in the booming market of Forsyth County.”
Once complete, Alta North will feature 310 one- and two-bedroom apartment homes across a combination of 3-story and 3/4 split buildings. Boasting luxurious, modern finishes, each of Alta North’s apartment homes will come outfitted with rich wood-style plank flooring, top-of-the-line stainless steel appliances including microwave hoods, undermounted single bowl sinks, and designer tile backsplashes to offer residents a relaxing and welcoming place to call home. Additional high-end features include full-sized in-home washer and dryers and beautiful granite countertops in both the kitchen and bathrooms.
Outside of their homes, residents will be able to take advantage of Alta North’s best-in-class community amenities, including a resort-style swimming pool with a tanning ledge, multiple grilling stations and fire pits throughout the property, and an on-site pet park and pet spa. Within the community clubhouse, residents will also have access to a 24/7 state-of-the-art fitness center, lounge and social gathering areas, and rentable office spaces for co-working.
“Wood Partners is thrilled to continue its expansion within the Metro Atlanta market with the groundbreaking of our newest community—Alta North,” said Bennett Sands, Managing Director. “Alta North presents a prime opportunity for Wood Partners to capitalize on the on-going growth across Georgia, and we look forward to continuing to play a positive role in the area’s development by delivering Wood Partners’ signature mix of comfort and luxury to future residents.”

PHOENIX, AZ – Link Senior Development and The Roxborough Group, announce the acquisition of Park Terrace Senior Living, an amenity rich, 301-unit independent living and assisted living community in Phoenix, Arizona.
“Park Terrace is an exciting venture for Link as we plan for the next chapter of this thriving community by pulling from our extensive experience developing and operating in Arizona. As a 300-unit hub in Phoenix, Park Terrace will accelerate our operational integration in Arizona enhancing the life of our residents and providing benefit to all project stakeholders through greater efficiencies,” noted Ron Ziebart, principal at Link Senior Development.
The 15.3-acre campus features expansive outdoor communal areas including a resort-style pool, putting green, walking paths and tennis court, set amongst 12 residential buildings featuring one- and two-bedroom units. Link and Roxborough intend to invest more than $3 million to enhance the facilities, programming, food service and overall resident experience. The partnership will also focus on making the community more sustainable by increasing water and energy efficiencies.
“The substantial demand and need in the North Phoenix market for competitively priced independent living units are a very compelling story for us,” said Matthew McCormick, managing director for The Roxborough Group. “In addition, we are very bullish on the senior living space as it recovers from COVID-19. Changing demographics and an on-coming “silver tsunami” create a unique opportunity to acquire communities well below replacement cost with favorable trends. We look forward to working with Link to enhance the amenity base and service offerings for residents of Park Terrace.”
Park Terrace is Link’s eighth senior living project in Arizona and third under management through its vertically integrated operations division. Link has invested in bolstering its acquisitions platform with multiple acquisitions in Arizona, Oregon and Idaho over the past six months.
The acquisition marks Roxborough’s entry into the senior housing market and its fourth investment in the Phoenix area as it invests Roxborough Fund III, a diversified investment fund focused on value-add investments.
JLL worked on behalf of Link to source debt and equity partners to provide execution certainty in a tight timeline transaction.

NORTHBROOK, IL – MZ Capital Partners, developer of the Vantage Naperville Apartments at 1350 E Ogden in Naperville, Illinois, has announced the sale of the 100 % leased 112-unit, full amenity apartment community. The sales price was $ 24,000,000 and the purchaser was an affiliate of New York based iconic property owner 601W Companies.
Other Chicago area properties owned by 601W include the Old Post Office redevelopment and Aon Center.
The award-winning ground up new construction development, which reached full occupancy in a record setting 90 days, sold approximately one year after receiving its building completion Certificate of Occupancy.
Situated at the gateway to the revitalized Ogden Area Corridor, the Vantage offers bright studio and 1-bedroom convertible apartments with 9-foot ceilings, in-home full-size washers/dryers, and stainless-steel appliances. Featuring private work from home office suites, 24/7 smart package delivery and pickup, high speed fiber optic internet connection, and balconies in select units, the Vantage represents high end urban style living in an attractive suburban setting.
The transaction was brokered by JLL Capital Markets in Chicago.

HOUSTON, TX – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 200-unit Park at Waterford Harbor Apartments in Kemah, Texas. This represents HZ’s 26th acquisition in Texas.
The community, built in 1996, is 29 miles southeast of Downtown Houston, which has become a headquarters hub for several Fortune 500 companies including Phillips 66, Sysco, and Hewlett Packard Enterprise.
“We are very excited to add Park at Waterford Harbor to our portfolio and add another asset in the Clear Lake Submarket.” said David Nelson, Hamilton Zanze’s chief investment officer. “Its appealing location on the Kemah Harbor, proximity to NASA’s Johnson Space Center, other strong job drivers in the Houston metro, and the wide range of amenities and floorplans the property offers drew us to the opportunity. Along with our nearby property Signature Point, we look forward to continuing to grow our presence in the Houston MSA.”
The Park at Waterford Harbor Apartments was 96.5% occupied at purchase. The community is located at 1420 Marina Bay Drive in the desirable Clear Lake submarket, approximately 35 minutes from Downtown Houston. The 200 units average 982 square feet with seven different floor plans. Community amenities include a fitness center, dog park, and a putting green. Unit amenities include granite countertops, stainless steel appliances, large closets, and washers and dryers in each unit.
HZ’s capital improvements will include site and building improvements, amenity updates, a unit renovation campaign to update 40 remaining classic units, and sustainability implementation. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

MADRID, SPAIN – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing, has forward purchased a substantial flexible accommodation portfolio of 2,500 units in Madrid, Spain, for a managed discretionary fund from King Street Real Estate GP, a leading global alternative investment firm that partnered with Greystar and Momentum REIM in 2019 to acquire three sites to be used for flexible accommodation.
The highly innovative concept will comprise three buildings located in the north and south of the Madrid metropolitan area in Rivas, San Sebastián de los Reyes and Valdebebas. They will operate under a new brand that will be unveiled at a later date, and guests will benefit from purpose-designed rooms and superior amenities including a gym, co-working space, pool, outdoor space and a dedicated concierge service. The buildings, which are currently under construction, are targeting a BREEAM rating of “Very Good.”
Juan Acosta, Managing Director – Spain, Greystar, said; “The Madrid market is characterized by a significant under supply of all types of rental accommodation, including flexible and attainable solutions. The acquisition provides us with a portfolio of significant scale in this highly attractive city that will be purpose-designed and built for guests requiring a place to stay away from home.”
Paul Brennan, Managing Director and Head of European Real Estate, King Street, said, “The sale of this portfolio underscores King Street’s ability to successfully execute on our strategy of delivering BREEAM “Very Good” rated alternative living assets in Spain, where we still see a significant opportunity to grow given the under provision of purpose-built institutional product in the market.”
King Street has committed over $4 billion of equity across 60 private real estate transactions since 2010. King Street has been investing in real estate in Spain since 2012. To date, King Street has directly and indirectly invested more than $1 billion of equity into real estate in Spain.
King Street was advised by Eastdil, Linklaters and Cuatrecasas. Greystar was advised by Jones Day, EY, Arcadis and Deloitte.

FORT LAUDERDALE, FL – Urbane Capital Management, a real estate investment and development firm, has announced plans to develop 8Hundred North, a luxury townhome community in the exclusive neighborhood of Victoria Park at 800 NE 2nd St in Fort Lauderdale. The development will offer expansive three-bedroom floorplans that range in size from 2,400-2,700 square feet. The project received site plan approval on May 10th. Groundbreaking is scheduled for Q3 2022.
“8Hundred North’s strategic location within Victoria Park offers unparalleled walkability and access to downtown living in East Fort Lauderdale,” stated Amin Jamal, Managing Principal of Urbane Capital. “8Hundred North is just steps away from the amazing restaurants, shopping and nightlife on Las Olas Boulevard, as well as emerging Flagler Village and Downtown Fort Lauderdale.”
Urbane Capital has teamed up with award-winning architect Stewart Robin of Nest Plans to design townhomes that blend modern architecture and clean lines with warm natural tones and an open floor plan. We are focused on assembling a team of architects, designers, engineers, and construction firms that share our vision for uncompromising quality, and the result will be an exceptional community of townhouses,” said Nitin Jain, Co-Founder and Principal of Urbane Capital.
8Hundred North is the newest luxury development in Victoria Park. The tree-lined and family-friendly Victoria Park neighborhood is known for its vibrant and open-minded community ethos. Residents enjoy an abundance of conveniences and amenities a short walk or bike ride away, including the beaches of Fort Lauderdale and beautiful Hugh Taylor Birch State Park.
The City of Fort Lauderdale is centrally located 25 miles north of Miami and 20 miles south of Palm Beach County. Fort Lauderdale boasts over 165 miles of waterways and canals, and seven miles of pristine beaches with refreshing ocean breeze.