IRVING, TX – Over the past couple of years, Texas suburbs have dominated the U.S. Census Bureau’s list of fastest-growing cities in the country. To meet the accelerated need for Class A multifamily housing in Frisco, a submarket that has seen unrivaled growth and development, JPI has broken ground on Jefferson at The Gate.

A 425-home luxury multifamily community within Frisco’s The Gate development, Jefferson at The Gate is located on the northwest corner of the Dallas North Tollway and John Hickman Parkway. The master development is set to include more than 650,000 square feet of office space, 130,000 square feet of retail space and a luxury hotel.

“With the rapid and sustained population growth in Frisco, now is an exciting and essential time for development,” said Matt Brendel, senior vice president and development partner at JPI, the most active multifamily developer in Dallas-Fort Worth three years running. “To support the large amount of jobs being made in the Dallas-Fort Worth metroplex, there is an impending need for key housing and infrastructure developments as well. We are excited to deliver this unique, conveniently located community to the residents of Frisco, both established and new.”

“We are excited to partner with JPI on this well-located and thoughtfully designed project,” said Mark Alfieri, chief executive officer at MORE Residential. “This reflects our strategy of building a high-quality portfolio of multifamily properties through partnerships with exceptional development sponsors.”

Jefferson at The Gate is anchored by a host of prestigious corporate centers, including Hall Park, The Star, and Legacy Business Park, which is home to suburban Dallas’ largest concentration of corporate America. Additionally, the expansive Legacy West mixed-used development is located less than two miles away and includes the corporate headquarters for a number of Fortune 500 companies, including Toyota, JCPenney, FedEx, Liberty Mutual and many others.

In addition to being located in the heart of Frisco’s North Platinum Corridor, Jefferson at The Gate will offer trail access and lake views to residents, seamlessly weaving a right live-work-play environment. Additional amenities include: Fifth-floor amenity space; Two resort-style pools; Concierge service; Free wireless connection in all common areas; and State-of-the-art fitness center and yoga studio.

Individual apartment homes will be equipped with kitchen islands, 10-foot ceilings (or higher), granite and quartz countertops, designer appliance packages, full-sized washers and dryers and urban mud rooms.

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ODENTON, MD – TGM announced the acquisition of TGM Odenton (formerly known as Lodge at Seven Oaks), a 396-unit garden style apartment community in Odenton, MD.

The property, completed in 2007, is comprised of 14 residential buildings built on a site of approximately 20-acres. The unit mix offers one, two, and three-bedroom apartments with an average square footage of 1,018. The property has a comprehensive amenity package that includes a clubhouse, fitness center, billiards, business center, media room, swimming pool with adjacent outdoor lounge, dog park, grilling areas, and tennis courts. TGM plans to materially upgrade the common area amenities along with enhancements to the apartment interiors.

TGM Odenton is centrally located with simple access to major roadways including MD-32 (Patuxent Freeway), MD-175 (Annapolis Road), MD-295 (Baltimore-Washington Parkway), I-95, and I-97.  Residents are a small drive from the Odenton MARC Train Station, which connects Baltimore’s Penn Station and Washington, D.C.’s Union Station. TGM Odenton is proximate to major entertainment and retail districts including; Odenton Town Center, Waugh Chapel Towne Center, Arundel Mills Mall and Maryland Live! Casino. 

“We are proud to expand our footprint in the Baltimore-Washington Corridor with the acquisition of TGM Odenton. TGM is particularly attracted to this area because it is a high barrier to entry submarket with a diverse set of economic drivers.  There are employment strengths in the private sector as well as with federal data intelligence agencies due to the presence of Fort Meade,” said Zach Goldman, Managing Principal and Director of Operations for TGM. 

TGM Odenton is managed by TGMs’ property management company, TGM Communities.  Also owned and managed by TGM in the Baltimore-Washington Corridor are TGM Creekside Village (Glen Burnie, MD) and TGM Sudley Crossing (Manassas, VA).

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OAK BROOK, IL – Inland Real Estate Acquisitions announced that it negotiated and closed the buy of eight multifamily properties located throughout the South and Western United States on behalf of Inland-related parties during the first half of 2018. The acquisitions total 2,095 units for a total cumulative buy price of approximately $353 million.

Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Acquisitions, along with Mark Cosenza and Matthew Tice, both senior vice presidents of Inland Acquisitions, are responsible for completing the buys, with help from David Neboyskey and Brett Smith, vice presidents and associate counsels of The Inland Real Estate Group, LLC, Law Department, on behalf of the various Inland affiliates.

“We’re pleased with the acquisitions of these eight high quality apartment properties, which featured premium amenities, boasted high occupancy rates and were ideally located in prime markets,” commented Mark Cosenza. “We couldn’t have closed these transactions so quickly and efficiently without the support of our legal representatives, David Neboyskey and Brett Smith.”

To date, Inland Acquisitions has completed the acquisition of 79,204 apartment units throughout the United States, among 509 multifamily properties, for a total buy price of more than $5.5 billion.

“Throughout the remainder of 2018, we will continue to seek out multifamily properties located in desirable markets with strong demographics that provide renters with access to excellent schools, public transportation, retail areas and major employers,” said Tice.

“Our business started with purchasing multifamily properties and throughout the last 50 years, we have shown our integrity, expertise and innovation while acquiring these properties,” stated Joe Cosenza. “We like buying – it’s what we do.”

Since inception, Inland Acquisitions has facilitated more than $45 billion of buys including single-tenant properties, medical office buildings, apartments and retail properties.

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