ALEXANDRIA, VA – A joint venture between USAA Real Estate and Lowe, a national real estate investor, developer and manager, announced the completion of Park + Ford, the adaptive-reuse of the former three-building Park Center office complex into a 435-unit contemporary apartment community with 115,000 square feet of office. Located at 4401 Ford Avenue in Alexandria, Virginia on the I-395 Corridor, the community is proximate to Washington, D.C. and other area business centers as well as a wealth of shopping, dining and entertainment destinations.
The 568,000-square-foot Park Center office complex consisting of two 14-story office towers and a four-story office building constructed atop a 1,400-space parking garage was acquired by the joint venture in January 2018. Drawing on its experience with a prior office-to-residential conversion at The George in Wheaton, Maryland, Lowe developed a program to capitalize on the traditional office attributes of the towers, such as 10-foot ceilings and large floorplates, to transform the two 14-story office buildings into spacious apartment homes with a large array of desirable community amenities.
Park + Ford offers apartment residences larger than those which are typically developed as new construction. At the time we purchased the property, prior to the pandemic, we identified growing interest among young professionals, many beginning to couple-up and start families, for an apartment community with more room for working and family along with style and convenience, said Mark Rivers, executive vice president, Lowe. We decided to proceed with construction during the height of the pandemic in 2020 and found we could contract at favorable costs. We also avoided delays from supply chain disruptions, which began later in the pandemic. As we began welcoming residents, we found that the pandemic only fueled demand for precisely the environment and residences that we have created at Park + Ford. In fact, the first leases signed were for the one bedroom plus den and two-bedroom units, when historically smaller units lease first.
Park + Ford offers apartments configured as studio, one-bedroom, one-bedroom plus den, two-bedroom, and two-bedroom plus den floorplans, many with private terraces or balconies. All residences feature wood plank floors, quartz countertops, energy efficient appliances including in-unit washers and dryers, and floor-to-ceiling windows creating a bright and airy living environment.
Communal spaces at Park + Ford evoke the atmosphere of a boutique hotel with a high-end contemporary and comfortable design in warm tones complemented by splashes of eye-catching, colorful décor. Gathering spots are abundant and engaging; the Lobby; Co-Working area; Social Lounge with interactive multi-sport game simulator; Club Room with kitchen, dining area, televisions and fireplace; and the sunny, plant-filled Conservatory are all fitted with a variety of seating options for casual gatherings, remote work or community-organized events. Residents also have access to a private dining room and catering kitchen for meetings or social gatherings, while children have their own space at Park + Ford with a Kids Room stocked with toys and games.
Park + Ford offers inviting outdoor spaces including The Yard, a large landscaped area with a bocce court and nearby sundeck with chaise lounges, misters and a waterfall fountain. The plaza offers outdoor dining, grilling stations, fire pits and private cabanas, while the expansive 5,000-square-foot, resident-only fenced dog play area provides shade, seating and pet water stations.
Convenience and service are hallmarks of Park + Ford with a host of app-driven, on-demand services such as housekeeping, laundry and dry cleaning, package notification and storage including refrigerated cases for perishable deliveries, and away-from-home care. A concierge, lobby coffee bar and self-service grab-n-go market round out the community s hospitality-focused experience.
A highlight at the property for residents and the community is the 55,000-square-foot XSport fitness club in the adjacent four-story building. The popular fitness club, which is open to its members 24 hours a day, seven days a week, offers an array of classes, state-of-the-art equipment, an Olympic-size indoor swimming pool, spa and basketball court. A Spanish-immersion daycare, Tierra Encantada, is scheduled to open in the complex in Summer 2022.

SAN ANTONIO, TX – Los Angeles-based Orion Real Estate Partners announced that it has acquired Remington Ranch, a garden-style apartment community in San Antonio, Texas. Orion purchased the 180-unit apartment community in June 2022 and plans to invest approximately $2.6 million in interior and exterior improvements.
The Property sits on an expansive 7.4-acre site, with ample amenities including a fully redesigned clubhouse and business lounge/coffee bar, a new fitness center, and a pool with a free-standing cabana. Built in 2008 and with 80% of the units in classic condition, the property is an ideal candidate for a value-add unit renovation program to drive premium rents while remaining an affordable alternative to new product in the submarket.
This is Orion’s eighth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area. Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth.
CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion will utilize property management company Anterra. Anterra currently manages 1,074 units for Orion in San Antonio.

HOUSTON, TX – Trive Capital Real Estate announced its acquisition of Madison on the Lake, a 392-unit multifamily property located in Southeast Houston. This acquisition was completed in partnership with Sentinel Peak Capital Partners, an established multifamily operator with ownership experience in the property’s immediate submarket.
Located minutes from Hobby Airport, Madison on the Lake offers lakefront access and several acres of green space in an urban setting with easy access to the area’s employment hubs. The property’s highly desirable community amenities include two large swimming pools, one of which overlooks the lake, an updated fitness center and clubhouse.
“The acquisition of Madison on the Lake is an exciting opportunity that is well-positioned for long-term value creation through unit and common area improvements. The community offers residents a unique living experience at an attainable price point and should perform well through economic cycles. We are thrilled to partner with Sentinel Peak on such a compelling project,” said Troy Daniel, Founding Partner of Trive Capital Real Estate.
“Trive’s real estate team is focused on opportunities characterized by off-the-run sourcing, value-add potential, and strong investment fundamentals. Madison on the Lake checks all of these boxes and is a great fit for our strategy,” added Conner Searcy, Managing Partner of Trive Capital.

CARY, NC – Aventon Companies, a prominent, vertically integrated multi-family developer with active projects throughout the mid-Atlantic and Southeast, announced it has broken ground on its second apartment community within the Raleigh-Durham-Chapel Hill metropolitan market. Aventon Kit Creek, located in the town of Cary, will be a 293-unit, Class A, multifamily development.
Encompassing nearly 16 acres and spread across three separate residential buildings, Aventon Kit Creek will offer residents spacious floor plans ranging from studio units all the way up to three bedrooms. Each apartment home will be furnished with modern finishes and state-of-the-art-technology. Surrounding amenity spaces include a resort-style saltwater pool along with an expansive sundeck featuring lounge seating, daybeds and private cabanas, a state-of-the-art fitness center with cardio and strength training equipment, and a remote working hub with multiple private offices and collaboration areas. The pet-friendly community also offers a pet spa and dog park.
“Cary is one of the most desirable locations to live within North Carolina, with its booming job market and esteemed schools,” said Ron Perera, Senior Managing Director for Aventon Companies. “To be able to offer a premier multifamily development within close proximity to jobs, schools and shopping is something that we feel will be highly beneficial to the community.”
Aventon Kit Creek’s buildings were designed by Charlotte-based Watts Leaf Architects, PA with interior design by Studio 5 Interiors, Inc. Aventon Kit Creek is expected to open in the Fall of 2023 and will be just a half-mile from Apple’s future campus, a $1 billion development with 3,000 employees and salaries averaging $187,000. Since 2019, Aventon Companies has assembled an impressive $2 billion portfolio of ground-up developments expected to bring nearly 7,600 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic.

RICHMOND, VA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Hunter’s Chase, a 320-unit apartment community in the Richmond suburb of Midlothian, Virginia. The community was acquired on behalf of CS1031 Hunter’s Chase, DST.
“This is Capital Square’s twelfth acquisition of a multifamily community in the Richmond area for the DST/1031 exchange program,” said Louis Rogers, founder and chief executive officer of Capital Square. “The Richmond area enjoyed 12% rent growth over the last year, driving cash flow and residual value. Capital Square is a prolific buyer of apartment communities in the Mid-Atlantic region that benefit from a combination of strong rent growth and high occupancy, along with exceptional economic opportunities, and the ongoing migration of people from gateways citites to the suburbs.”
Located at 5200 Hunt Master Drive, the 24.7-acre garden-style apartment community offers one-, two- and three-bedroom units averaging 816 square feet with spacious floor plans, walk-in closets, in-unit washer and dryer, stainless steel appliances and private screened patios and balconies. The property amenities include a resident clubhouse with coffee bar, fully equipped fitness center, swimming pool with a sundeck, multi-use sports court, BBQ and picnic areas, fenced dog park, playground, carwash station and package lockers.
Hunter’s Chase is adjacent to the Village at Swift Creek and Commonwealth Center shopping malls, offering residents a wealth of local shopping and dining options.
The community is situated in a thriving submarket that Yardi Matrix project’s will maintain a 10-year occupancy average of 96% through 2032. According to Axiometrics, the Chesterfield County submarket in which Hunter’s Chase is located, is projected to experience annual effective rent growth of 6.6% and an average occupancy rate of 97.3% through 2025.
“Hunter’s Chase is located in a high-growth submarket of Richmond that we expect will continue to flourish over the next several years,” said Whitson Huffman, chief strategy and investment officer. “The property has exceptional amenities and is in the midst of a thriving metropolitan region that has persistently strong demand for quality multifamily living.”

CHARLOTTE, NC – Stoneweg U.S., a real estate investment firm specializing in multifamily acquisitions and developments, announced the acquisition of Amaze @ NoDa Apartments, a newly built, 298-unit multifamily community located in the highly desirable NoDa submarket of the thriving Charlotte, North Carolina MSA.
The Class-A property consists of two, four-story, elevator-serviced buildings and was constructed in 2020. Lavish unit designs boast chef-style kitchens, walk-in showers with subway-tile accents, stainless-steel appliances, and premiere vinyl flooring throughout. Resort-style amenities include: a sky lounge with an outdoor bar area, a gaming section, first-class fitness center, a sizeable swimming pool furnished with chic cabanas and a firepit, vibrant signage, a bark park and pet spa area, and expansive green spaces.
“Amaze @ NoDa is a tremendous addition to our portfolio and a prime example of the quality and diversification we’ve pledged to our investors,” said Head of Investments for Stoneweg US, Matthew Levy. “The quality of the asset speaks for itself, and the market’s performance over the last several years reinforces its value for us.”
The Amaze @ NoDa community is ideally located in the North Davidson (NoDa) submarket of Charlotte, which has undergone a major transformation from being the epicenter of textile manufacturing and mill worker residents, to becoming the cultural mecca of the outer city offering several music and art venues and cultural experiences for residents and visitors to enjoy. Amaze @ Noda is in proximity to the LYNX Blue Line Railway, providing area residents easy access to popular Charlotte destinations; and Charlotte itself serves as a major employer hub for several major companies including three of the leading banking institutions in the country Bank of America, Wells Fargo, and Truist.
“Charlotte remains a key market for us given its consistently strong growth indicators, continuous transformation, and innovative progression,” said Ryan Smyth, Director of Acquisitions for Stoneweg US. “With its ideal location, and standout curb appeal, Amaze @ NoDa is undoubtedly poised to be one of our portfolio’s top performers.”

CHARLOTTE, NC – Embrey, a diversified real estate investment company based in San Antonio, has closed on a five-parcel assemblage totaling 4.5 acres of land in Charlotte, North Carolina. The firm plans to construct Southerly at LoSo, a high-end, 403-unit luxury apartment community, in the popular Lower South End neighborhood locally known as “LoSo.” Hunter Barron, of JLL assisted Embrey with the assemblage.
“This will be Embrey’s first project in Charlotte and construction will begin in late June,” says Brad Knolle, Executive Vice President of Development. “There is high renter demand in the LoSo area and vacancy rates are low. We are developing a community that will deliver a living experience that is in keeping with the vibrant and trendy LoSo area.”
Units will feature keyless entry, 9- to 12-foot ceilings, quartz countertops, walk-in closets with built-in shoe racks and designer finishes throughout. The property will offer luxury amenities such as a resort-style pool with shaded cabanas, a bocce ball court, a dog park, a bicycle repair and storage room and more. Also included is a seventh-floor sky lounge for residents to relax while enjoying views of the Uptown Charlotte skyline.
The design team, including Cline Design and Land Design, has worked tirelessly with Embrey to create a timeless building for this iconic corner. Moore & Van Allen and Hart & Hickman have provided excellent land entitlement and environmental services to help Embrey achieve this closing. Elford, Inc. has been selected to build the project.
Southerly at LoSo is expected to begin leasing in late 2024 with completion in early 2025.

HAVERHILL, MA – Scully Company announced their recent acquisition of The Bixby, a 128-unit, multifamily asset located in Haverhill, MA within the fast-growing Northern Essex submarket. The Bixby marks Scully Company’s second community in New England and is consistent with the focused portfolio expansion in the region.
Scully acquired the market rate property from Blackfin Real Estate Investors with the disposition and financing coordinated by Berkadia. The Pennsylvania-based firm intends to modernize select unit interiors, enhance common areas and provide a best-in-class living experience for residents.
“We are thrilled to acquire The Bixby and enjoyed working with the seller and Berkadia teams. The excellent location and ability to offer residents a well-amenitized living experience on the idyllic Merrimack River made for an attractive investment profile. We look forward to being good stewards of the community and furthering our portfolio in New England,” said John Schonborn, Managing Director of Investments for Scully Company.
The Bixby offers pet-friendly, modern, studio, one, and two-bedroom apartments. While a suburban location, the community is transit-oriented with the MBTA station just across the street and provides residents access to 25+ shops and restaurants along Washington Street within a 5-minute walk. Existing community amenities include a resident lounge with pool tables, shuffleboard, and smart TVs, an entertainment kitchen, 24-hour fitness center, bark park, resident storage, dedicated package room, and secure on-site structured parking.

LEANDER, TX – Leading national multifamily real estate developer Wood Partners announced the official grand opening of its newest luxury residential development, Alta Leander Station, located just north of Austin in Leander, Texas.
Situated at 348 Main Street, the new community provides a prime North Austin location for residents looking to take advantage of all the eclectic city has to offer, from best-in-class shopping and entertainment to renowned dining and nightlife options. Located just off Highway 183, Alta Leander Station also provides quick access to nearby residential communities like Round Rock and Cedar Park, as well as downtown Austin via the CapMetro station adjacent to the community, which offers a direct route to downtown.
“We are thrilled to welcome residents to Wood Partners’ newest community—Alta Leander Station—as we continue to see unprecedented amounts of growth and development taking place in North Austin,” said Bart Barrett, Managing Director. “Alta Leander Station’s location provides the perfect balance of work and play opportunities and enables residents to enjoy all that Austin has to offer.”
Offering 276 apartment homes consisting of studio, one-, two- and three-bedroom floor plans, Alta Leander Station raises the bar for comfort and sophistication with luxurious finishes and thoughtful interior details. Each home boasts an airy, open concept layout with luxurious kitchens complete with stainless steel Whirlpool appliances, custom 42″ cabinets, granite countertops, and designer tile backsplashes. Custom plank flooring is featured throughout, providing an added touch of warmth, while full-size in-home washer and dryer sets further boost the convenience factor.
Just outside their doors, residents of Alta Leander Station will also enjoy the community’s outstanding amenities, including a resort-style swimming pool with an expansive sundeck, an outdoor kitchen and grilling areas, and an on-site pet play area. Inside the community clubhouse, residents have access to a 24/7 high-end fitness center complete with Precor equipment and technology, co-working offices, and multiple lively entertainment spaces. In addition, a nature trail adjacent to the community provides the perfect place to take a stroll in the great Texas outdoors.
As growth within the Austin area continues to boom, residents have an ideal location close to several new attractions including Northline, Leander’s new 116-acre downtown district. Situated just north of the community, this in-progress development area will soon offer additional shopping, dining, and office options. In addition, Apple is finalizing development of its new 3 million square foot campus, which is set to house more than 5,000 employees when it opens later this year.

ATLANTA, GA – San Francisco-based real estate investment firm Hamilton Zanze is excited to announce the sale of The Residences at Vinings Mountain, a three-property portfolio consisting of the Peak at Vinings Mountain, Lakeside at Vinings Mountain, and The Views at Vinings Mountain. The firm purchased the Georgia apartment properties in 2016 and the sale closed on May 24, 2022.
Throughout their ownership, Hamilton Zanze completed numerous improvements to improve leasing efforts and increase rental rates. Interior advancements on buildings surrounding the lake at the Lakeside property include the additions of granite countertops and new stainless-steel appliances. Exterior upgrades also helped to improve the overall allure of the communities; during ownership HZ performed tree trimming to allow for pool and lake views, built a waterfront gazebo, and extending walking trails around the properties.
“The Residences at Vining’s is a significant disposition for Hamilton Zanze. Prior to 2016, HZ focused on the west coast and southwest markets. The three-property portfolio was our first acquisition in the southeast and laid the foundation for our expansion into the eastern U.S,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “The Vining’s portfolio exceeded return expectations over the projected five-year hold period. We are pleased with the execution of our business plan that included, unit renovations, clubhouse upgrades and improving management.”
The three assets in the Vinings Portfolio are garden-style Class B+ communities built in 1980 and 1983 on over 53 acres. Together, these gated properties are comprised of 34 total two- and three-story residential buildings with a total of 680 units. The communities includes several upscale amenities such as fitness centers, game rooms, kitchen areas, a dog park, a movie theatre, a wine tasting room, a golf simulator, and breathtaking walking trails.
The Vining Properties are located within a 20-minute drive from Downtown Atlanta, offering easy access to Interstates 75 and 285. The communities are also in close proximity to major employment centers and one of Atlanta’s top tourist attractions, SunTrust Park, home of the Atlanta Braves. Surrounding the Vining Properties are comparatively affluent neighborhoods, benefitting from stable employment growth from the healthcare, manufacturing, and construction industries.