SCOTTSDALE, AZ – Sentral, the category-defining prop-tech company building the world’s largest flexible living community, announced the addition of its 12th community to its rapidly growing portfolio Sentral Old Town in Scottsdale, Arizona. With more than 28 percent rent growth in Scottsdale from February 2021 to February 2022, the city’s newest flexible living community offers designer-furnished and unfurnished apartment homes with flexible lengths of stay.
Sentral Old Town offers living and work spaces for those looking to experience the city like a local. Located near the intersection of Scottsdale and Camelback Roads in Downtown Scottsdale, the 160-unit property is just steps away from high-street retail shopping and the largest collection of upscale restaurants and nightlife destinations in the greater Phoenix metropolitan area. The building also offers direct access to the walking path along the Arizona Canal.
“As we continue our rapid expansion across the U.S., we are focused on desirable markets welcoming an inflow of residents and visitors,” said Sentral Chief Executive Officer Jon Slavet. “Scottsdale is among the top U.S. cities with significant rental demand in the last 12 months, and we are excited to bring our flexible living concept to this dynamic market.”
Since 2018, the number of digital nomads in the U.S. has more than tripled – from 4.8 million to 15.5 million according to MBO Partners. Sentral’s innovative and adaptable platform allows residents and guests to customize their living experience to match their evolving lifestyle, offering any length of stay across its portfolio of urban locations within vibrant and walkable neighborhoods.
Featuring a striking design with a modern aesthetic, Sentral Old Town complements Downtown Scottsdale’s high-end urban appeal. The lobby’s marble floor and welcome desk present a grand sense of arrival, adjacent to a gourmet coffee lounge for those on the go in the mornings. The second floor features an elegant gathering space with a kitchen and formal dining table, billiards room, and multiple lounge and TV areas. Residents and guests can also take advantage of common areas and on-demand private rooms for remote work.
Sentral Old Town’s apartments boast 9- and 10-foot ceilings with quartz countertops, wood-style flooring, walk-in closets, custom cabinetry and stainless steel appliances, smart entry locks, Nest thermostats, and personal patios or balconies. Residents and guests also have access to a resort-inspired pool; outdoor spa area with cabanas, an outdoor sundeck and a firepit; fitness center; top-floor sky lounge with panoramic views of the city and the Sonoran Desert landscape; package locker room; bike repair station; electric vehicle charging destinations; grilling stations; a wine lounge; and a pet spa.

JACKSONVILLE, FL – RangeWater plans to break ground this spring on Olea eTown, located at 11385 Exchange Street. The 192-unit, age-targeted community will have 1-, 2- and 3-bedroom apartment homes on a 5.73-acre property. The new-build community will be spread among three buildings with socially inspired amenities, including a dog park and open greenspace.
Olea eTown is being designed for those 55 and older who desire an active adult living environment. This is a growing demographic as many downsize from family homes and move towards retirement. Olea eTown is RangeWater s fifth development in Jacksonville and the company s fourth Olea community.
As we continue to expand RangeWater s Olea platform in Jacksonville, we re offering more of what we see this resident profile demands, said Steven Shores, Chairman and CEO of RangeWater. Empty nesters remain a fast-growing demographic for us and we re continuing to improve on each Olea community to provide more vibrant, collaborative communities.
Founded in 2006, privately owned RangeWater acquires, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $5.6 billion portfolio.
RangeWater opened its first Olea communities – Olea at Nocatee and Olea at Viera- in Summer 2020. After each successfully stabilized within the year, the company sold both and still manages Olea at Nocatee. The age-targeted communities are purposefully designed for empty nesters looking to lead an active and social lifestyle in a multifamily environment. Olea Beach Haven, which is currently under construction, is RangeWater s first age-restricted development. Both Olea Beach Haven and Olea eTown deliver Fall 2023.
Olea eTown is a part of The PARC Group s eTown, a 1,500-acre award-winning master planned community. When fully developed, it will include over 2,300 single-family homes, a 5-acre amenity center, a 3.5-acre Baptist Health medical center, and a 48,000 square foot Publix Super Market. Residents will benefit from The Exchange, eTown’s town center, which will offer a walkable main street lined with neighborhood shops and restaurants.
Olea eTown is ideally situated to enjoy all the area has to offer. It s within a 20-minute drive to Ponte Vedra, home to the world-famous TPC Sawgrass golf course, and Jacksonville Beach, known for the Seawalk Pavilion. Residents are also just a 10-minute drive to the Promenade Town Center and the Markets at Town Center. Both centers offer a diverse mix of retail and dining options, including Sprouts Farmers Market, Brio, Nordstrom Rack, REI, and many more. The St. Johns Town Center, a 10-minute drive north of eTown, serves as an impressive heart for recreation and employment in Jacksonville. Anchored by an outdoor luxury lifestyle mall, the center is home to 1.2 million square feet of coveted retail tenants like Apple, Lululemon, Michael Kors, Restoration Hardware, Warby Parker, Tory Burch and Tesla as well as great food at The Capital Grill, True Food Kitchen, and TossGreen.
The Southside Jacksonville area employs over 150,000 people with heavy concentrations in finance through Deutsche Bank and Merrill Lynch as well as healthcare with Florida Blue and Johnson & Johnson Vision. The Southside submarket is the largest office submarket within the MSA with more than 18 million square feet of office and over 200,000 employees, including Baptist Health, Mayo Clinic s campus and Citibank. The Flagler Center, neighboring the 1 million square-foot Baptist Medical Center, boasts more than 15,000 jobs within a 5-minute drive.
We re thrilled to contribute another vibrant and exciting project to the Jacksonville community, said Michael Oliver, RangeWater s Director of Development. Residents are a short drive to job centers, golf courses and beaches, while steps away from shops and restaurants.
Olea has special events and programming unique to each neighborhood, including an in-house lifestyle director who curates the resident experience and brings the community to life. Finishes include high-end appliances, a resort-style pool, a well-stocked library and media rooms.
The community also will feature a fitness studio, dog park with pet spa, well-stocked craft room and walking trails. Residents can enjoy raised garden beds for community gardening and more social green spaces than most Class A multifamily properties. Ample storage rooms and garages also will be available.

MIAMI, FL – GID has acquired Elan Doral, a newly-built apartment community located in Miami’s Doral neighborhood. This 385-unit community is managed by GID’s wholly-owned property management company, Windsor Communities, and has been rebranded Céntrico by Windsor.
Céntrico is located in the heart of downtown Doral, a 250-acre master-planned development in the western part of Miami-Dade county, and offers access and walkability to two top-rated Charter Schools, Class-A employment centers, University of Miami Health System, and is minutes away from top shopping, dining, and entertainment at CityPlace Doral.
Each of Céntrico’s one-, two-, and three-bedroom apartment homes includes smart home technology, a private terrace or balcony, and a gourmet kitchen. Residents also enjoy an expansive amenity package, including two heated swimming pools, poolside cabanas, a sundeck, a fitness center that includes a yoga lawn/deck and cardio and fitness on-demand, a billiards and game lounge, a business center, a theatre, and a penthouse sky lounge.
GID is a privately-held, vertically-integrated real estate company that owns and operates a portfolio of multifamily and industrial assets, as well as develops mixed-use projects. The current portfolio includes over 46,000 residential units, 20 million square feet of industrial space, and 1 million square feet of retail and office space.

SAN ANTONIO, TX – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Niche Apartments in San Antonio, Texas. The firm originally purchased the 150-unit, garden-style apartment community was in 2016, and the sale closed on April 5, 2022. The sale of Niche Apartments represents Hamilton Zanze’s second disposition of 2022.
During their ownership, the firm completed numerous exterior improvements, which included renovations to the fitness center, roof replacements, and pool enhancements. Additionally, 54 units were updated with stainless appliances, quartz countertops, and new fixtures to improve the community residents’ quality of life.
“The Niche Apartments’ returns exceeded initial expectations over our projected five-year hold period,” said Anthony Ly, director of dispositions at Hamilton Zanze. “This investment exemplifies our strategy to identify opportunities, invest in and capture upside from multifamily properties through renovations, upgrades, and improved management.”
The Niche Apartments were built in 2000 and is located at 33 Lynn Batts in San Antonio. The property comprises 150 one-, two-, and three-bedroom units averaging 955 square feet. The community has a resort-style pool and spa, a dog park, a fitness center, barbeque and picnic areas, and nature trails.
The Niche is a planned, gated community near Interstate I-410, located in the Oakwell Farms neighborhood in the city of San Antonio just 10-minutes away from the International Airport. Residents have access to its well-maintained facilities including a pool, on-site park, and tennis courts. The neighborhood is roughly 20 minutes away from Downtown San Antonio, putting the amenities and conveniences of the city just a short drive away.

WILLIAMSBURG, VA – Capital Square, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a 207-unit, value add multifamily community in Williamsburg, Virginia. The community was acquired on behalf of CS1031 Sterling Manor, DST.
“Sterling Manor Apartments in historic Williamsburg, Virginia is an exceptional addition to Capital Square’s growing portfolio of apartment communities in the southeast,” said Louis Rogers, founder and chief executive officer of Capital Square. “An investment in Sterling Manor combines stable cash flow and appreciation with value added from upgrading the original apartment units. Capital Square continues to own the home court as the top apartment buyer in the region.”
Located at 155 Sterling Manor Drive, the five-building luxury apartment property offers townhomes and garden-style apartments with spacious floorplans and best-in-class finishes. The community was constructed in 2008 and features 137 renovated units, and the sponsor intends to renovate the remaining 70 units to capture additional rental income. The property amenities include a swimming pool, fitness center, resident lounge, business center, grilling/BBQ area, game room, bicycle storage, private balconies, package lockers, surface parking, and detached garages.
Sterling Manor is located in a thriving submarket that features average annual household income in excess of $100,000and a strong multifamily occupancy rate of 96.6 percent, according to Claritas. The region is exceptionally strong, with 2,917 apartment units delivered and 3,914 apartment units absorbed during the last 12 months, a vacancy rate of 4.8%, and 12-month asking rent growth of 12.2%. Axiometrics projects average annual rent growth of 12.4 percent in the submarket between 2022 and 2023.
“Sterling Manor is a luxury multifamily investment opportunity for investor seeking upside in a value-add strategy,” said Whitson Huffman, chief strategy and investment officer. “The property features high-end amenities in a high-income market with strong occupancy and growing demand for quality multifamily living.”
Just 1.1 miles from the campus of the historic College of William & Mary, one of the oldest and most storied universities in the United States, and 2.5 miles from Colonial Williamsburg, Sterling Manor resides in a virtual time capsule of American history. Williamsburg’s economy is tourism-based and driven by Colonial Williamsburg, the largest outdoor educational living museum in the country which provides immersive and authentic 18th-century programming for hundreds of thousands of tourists annually, and two theme parks: Busch Gardens Williamsburg and Water Country USA. In 2015, an estimated 2.78 million guests attended Busch Gardens Williamsburg, ranking it twentieth in overall attendance among amusement parks in North America.

HUNTSVILLE, AL – The Michaels Organization, a national leader in residential real estate, along with its joint venture partners, Albert Reuben Capital, LLC (ARC) and ICV Rep, a Family Office from Santiago, Chile, is set to break ground on its first market-rate multifamily community in Alabama, following a successful financial closing.
Located in the heart of a growing residential area just seven minutes from downtown Huntsville, the new Dean at Chase Creek apartment community will offer a modern, amenity-rich living opportunity for professionals in what’s becoming one of the most rapidly growing tech hubs in the country. The co-developer, ARC, LLC is led by Seth Heller, managing partner of ARC, a real estate private equity and advisory firm based in Miami.
“Michaels is excited to bring this high-quality housing to Huntsville, where our residents can be close to major employment centers, retail, and cultural amenities,” said Michael Flanagan, Executive Vice President of Development at The Michaels Organization.
The $73 million development, to be built on a 17.55-acre site, will feature 336 apartments in three-story, garden-style walk-up buildings. Amenities will include a clubhouse and resort-style pool with pavilion, grilling areas, electric car charging stations, dog wash and park, upscale fitness and agility rooms, conference rooms and collaboration spaces. Residents will also have the option to rent garages.
Michaels has owned and operated affordable apartment communities in Alabama for more than a decade, but the Dean at Chase Creek will be its first market-rate community and its first in the Huntsville area.
ARC is currently focused on horizontal and vertical land development throughout the southeastern part of the United States with a particular focus on Huntsville, Alabama.
Nicknamed “The Rocket City,” Huntsville is home to NASA’s Marshall Space Flight Center, Redstone Arsenal, state-of-the-art medical facilities, FBI’s HQ2, the Mazda-Toyota Manufacturing U.S.A, and the Cummings Research Park, the second-largest research park in the United States. Major employers are located within one mile from the site, largely concentrated in the 1,700-acre Chase Industrial Park, which has a daytime population of over 4,500 people. Major employers within the park include Johnson Controls, Qualitest, Cinram, and PPG Industries.
Urban Practice is serving as the architects. Michaels Construction will serve as the General Contractor and Michaels Management will serve as the property manager.

RENO, NV – Horizon Realty Advisors (HRA), a Seattle-based property owner, developer, and operator specializing in conventional multifamily and student housing, has broken ground on its newest multifamily development in Reno: The Edison. Conveniently located just north of downtown and the University of Nevada, The Edison will consist of 232 luxury apartments homes comprised of studios, one, and two-bedroom residences. Leasing will commence in spring 2023 with homes first becoming available for occupancy in fall 2023.
The Edison will feature amenities including a resort-style hot tub, fitness center, multiple fire pits, outdoor grills, community gathering space and study nooks. The community s lobby will feature a resident kitchen and lounge, coffee bar, living wall, and parcel locker system. The building features include garage parking, secured bike storage, ski/snowboard workshop and storage. The University is just a few blocks from the site while downtown Reno is a short walk down Valley Road. With its proximity to the McCarran Loop, a short drive from the Tesla Gigafactory and other major employers, the Edison will be a great option for professionals seeking to be close to university or downtown Reno.
With a heavy focus on sustainability, The Edison will be constructed to LEED Gold standards, achieving amongst the highest environmental certification levels to-date of any apartment community in Reno. There will be a 200kw solar array on the roof, which will offset much of the total energy needs for the building. Electric vehicle charging stations will be plentiful throughout the property with access to charging at over 25% of the property s 213 parking spaces. Residences will feature efficient Energy Star appliances and LED lighting to reduce energy consumption, and low flow plumbing to minimize water usage. Energy-efficient heat pump technology will be utilized for primary heat, air conditioning, and water heating needs. The building will go well beyond code requirements to incorporate energy-efficient envelope and insulation ratings, which reduces hot/cold air leakage and in turn the need to generate new heat or A/C. During the construction phase, local products and materials will be utilized whenever possible to minimize shipping and transportation distances in order to keep lifecycle energy costs as low as possible, limiting the project s overall carbon footprint.
Graydon Manning, HRA s Director of Development, further highlights the merits of the project, The Edison will be the greenest apartment community in Reno. We spent more than sixteen months designing the project and put heavy emphasis on sustainability throughout the process. The project is comprised of studio, one and two-bedroom private residences. Most of the apartment communities around UNR provide ‘pure student options- typically four- and five-bedroom apartments leased by the bedroom. The Edison will be a departure from the norm, serving both students and conventional residents.
Each apartment home will feature stainless steel appliances, quartz countertops, slow-close cabinets, LVT flooring, air conditioning, smart thermostats, walk-in closets, dedicated work-from-home space and valet trash. Garage parking will be available for most apartments in addition to abundant street parking around the site.
The Edison is HRA s first development in Reno, though they own and manage two existing apartment communities- The Republic, located adjacent the Edison, and The Phoenix. HRA currently owns and operates more than 10,000 apartments nationwide, with assets under management valued in excess of $2.5 billion.

MADISON, TN – Lloyd Jones, a real estate investment firm headquartered in Miami, announced the acquisition of Maybelle Carter, a 131-unit, senior living community in Madison, Tennessee. The property will operate under Lloyd Jones proprietary Sage Hill brand as Sage Hill Maybelle Carter.
Maybelle Carter Assisted Living is Lloyd Jones third senior housing acquisition this year. In February, the firm added two Class-A communities to its senior-living portfolio: Aviva Woodlands in Lincoln, Nebraska, and River Bend in Rochester, Minnesota.
A well-established and trusted independent living, assisted living, and memory care community, Sage Hill Maybelle Carter is just minutes to East Nashville and built on the former estate of country music legend Mother Maybelle Carter. Through a comprehensive renovation program, an iconic heirloom will be newly reimagined. Updates include new finishes throughout the lobby, public spaces, corridors, and residences to reflect the Lloyd Jones Sage Hill brand. The majestic grounds will be beautifully restored, with the addition of new patios and seating areas to enjoy green space throughout the community. The exterior will be refreshed with new paint, and there will be new updated signage. To pay homage to the rich musical legacy of the property, live and recorded music will be an integral part of the community, and selected memorabilia from the Cash/Carter family will be on display.
Residents of Sage Hill Maybelle Carter can enjoy chef-prepared, restaurant-quality meals served daily, spacious common areas, shuffleboard, dog park, and vast outdoor courtyards and community garden.
Sage Hill Maybelle Carter will deliver our residents a welcoming lifestyle, excellent services, and a focus on family and social relationships while celebrating the legacy of Maybelle Carter, says Vice Chairman, Tod Petty. Comfortably elegant, distinctively southern, and constantly attentive describes our new community. This acquisition marks the official launch of our new Sage Hill middle income brand.

HAMILTON, NJ – Total construction starts fell 12% in March to a seasonally adjusted annual rate of $903.8 billion, according to Dodge Construction Network. Nonresidential building starts lost 29%, in part due to the start of three large manufacturing facilities in the prior month. When those three large projects are removed, nonresidential starts in March would have risen 10%. Residential starts also fell 3%, and nonbuilding starts lost 2%.
Year-to-date, total construction was 9% higher in the first three months of 2022 than in the same period of 2021. Nonresidential building starts rose 26%, residential starts gained 3%, while nonbuilding starts were 1% lower. For the 12 months ending March 2022, total construction starts were 15% above the 12 months ending March 2021. Nonresidential starts were 25% higher, residential starts gained 15% and nonbuilding starts were down 1%.
The volatility caused by the ebb and flow of large projects masks an underlying trend of strengthening in construction starts, stated Richard Branch, chief economist for Dodge Construction Network. Nonresidential construction has benefited from the growing confidence that the worst of the pandemic is in the rear-view window. The pipeline of projects waiting to start continues to fill, suggesting this trend will continue. However, higher prices and a shortage of skilled labor will slow the progress of those projects through the design and bidding stages, resulting in moderate growth in starts activity.
Below is the breakdown for construction starts:
Nonbuilding construction starts declined by 2% in March to a seasonally adjusted annual rate of $194.5 billion. Starts in the environmental public works category rose 35%, and miscellaneous nonbuilding improved by 10%. Starts for highway and bridge projects lost 7%, and utility/gas plant starts shed 40% in March. For the 12 months ending March 2022, total nonbuilding starts were 1% lower than in the 12 months ending March 2021. Environmental public works starts were up 11%, and utility/gas plant starts rose 2%. Highway and bridge starts were up 4% on a 12-month rolling sum basis, while miscellaneous nonbuilding starts were 30% lower. The largest nonbuilding projects to break ground in March were the $522 million second phase of the IH 35E Corridor project in Dallas, TX, the $475 million first phase of the Mammoth Solar Project in Starke and Pulaski counties, IN, and the $332 million I-17 Anthem Way traffic interchange in Phoenix, AZ.
Nonresidential building starts fell 29% in March to a seasonally adjusted annual rate of $274.8 billion. The decline in March followed a large gain in manufacturing activity in February, which saw three large plants break ground. In March, commercial starts rose 8% due to gains in office, hotel and warehouse starts. Institutional starts increased 9% in March as starts in all sectors moved higher. For the 12 months ending March 2022, nonresidential building starts were 25% higher than in the 12 months ending March 2021. Commercial starts were up 21%, institutional starts rose 12% and manufacturing starts advanced 162% on a 12-month rolling sum basis. The largest nonresidential building projects to break ground in March were the $505 million second phase of the Switch SuperNap data center in Sparks, NV, the $460 million second phase of the Park 303 office building in Glendale, AZ, and upgrades to the $410 million Exxon Mobil refinery in Baton Rouge, LA.
Residential building starts fell 3% in March to a seasonally adjusted annual rate of $435 billion. Single family starts fell 5%, but multifamily starts rose 4%. For the 12 months ending March 2022, residential starts improved 15% from the 12 months ending March 2021. Single family starts were 11% higher, while multifamily starts were 29% stronger on a 12-month rolling sum basis. The largest multifamily structures to break ground in March were the $212 million 550 10th Ave. mixed-use building in New York, NY, the $200 million Kauanoe O Koloa condominiums in Koloa, HI, and the $140 million 7 Platt St. mixed-use building in New York, NY.
Regionally, total construction starts in March rose in the South Atlantic, but fell in all other regions.

CHICAGO, IL – Beitel Group and The Scharf Group, both NY-based single-family offices, have added Preserve at Woodfield to their over $1 Billion Midwest portfolio. Preserve at Woodfiled apartments has 662-unit property in northwest suburban Rolling Meadows, right outside Chicago.
The target is to upgrade and enhance the property and quality of life for our tenants. The amenities will include a new business center, state of the art fitness center, clubhouse, playground, Dog Park, leasing office, multi-sport courts, grilling stations, and parking lot.
Furthermore, the plan is to enhance the interior of the units as well, which includes new appliances, resurfaced counters, new cabinets doors, faux wood flooring, and upgraded lighting.
Beitel Group is a New York based family office focused on the acquisition and development of multifamily and commercial properties nationwide while pursuing a value-add strategy. Beitel currently owns and operates a multifamily portfolio spanning nine states, consisting of 10,000+ units.
The Scharf Group is a fourth generation family office; owner, developer, and operator of a large portfolio of commercial, multifamily, healthcare & senior housing properties nationwide.