NEWNAN, GA – Watercrest Senior Living Group and Waypoint Residential gathered with city officials, development, construction, and design partners to celebrate the groundbreaking of Watercrest Newnan Helped Living and Memory Care in Newnan, Georgia. The 107-unit, resort-style senior living community is under construction by BL Harbert International and scheduled to welcome residents in late Spring 2019.

Watercrest Newnan is a 92,000 square-foot, signature Watercrest product offering 75 helped living and 32 memory care apartments with premium accommodations, resort-style amenities, and world-class care. Residents will delight in pampering in elegant Spa W, savor private mark Watercrest wines at the wine bistro, and relish the flavors of locally grown, seasonal ingredients and organic fare whether dining outdoors, bistro-style, or in the chef’s private dining room.

The innovative design of Watercrest Newnan includes a stunning promenade, pool, fireplace, signature water wall, multiple dining venues, and children’s play space.  Watercrest’s uniquely designed Market Street Plaza will showcase an ‘outdoor’ streetscape with salon and spa, bakery, post office, and numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming. 

“Newnan offers the idyllic setting for a Watercrest community in its charm, culture and focus on community partnerships,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “Honoring our seniors and their families with exceptional care, innovation and enrichment is a driving force in the growth of Watercrest and our commitment to those we serve.”  

Watercrest Senior Living prides itself on providing outstanding caregivers and extraordinary care, all tailored to individual resident preferences.  Their comprehensive memory care program is specifically designed to engage the senses, expand the mind, and enhance the emotions of residents. All Watercrest memory care associates are Nationally Certified Dementia Care Specialists and programming focuses on innovative lifestyle approaches, including Personal Life Silhouettes, multi-sensory enhancements, Memories in the Making, and Music and Memory programs. 

Watercrest Newnan is ideally situated on nine picturesque acres at 285 Summerlin Boulevard in Newnan, Georgia.  Just 40 miles southwest of Atlanta, the community is located east of Newnan Crossing and Interstate 85, providing residents simple access to shopping, restaurants, the Piedmont Newnan Hospital and the Southeastern Region Medical Center.

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CHARLESTON, SC – Greystar Real Estate Partners, a global leader in the investment, development, and management of rental housing properties, announced the sale of a four-property, 1,616-unit multifamily portfolio in South Florida on behalf of its real estate funds. The four properties were bought by Greystar in 2013 as part of a national 27-property portfolio, and underwent extensive renovations to units, clubhouses and amenities at each property.

“The South Florida Value Portfolio is a collection of high-quality, well-located apartment communities in one of the country’s most valuable real estate markets, and we’re very pleased with the outcome of this transaction,” said Kevin Kaberna, executive director and leader of Greystar’s U.S. Investment Platform. “This deal is another fantastic example for the effectiveness of our value-add strategy. By leveraging our institutional knowledge and platform we were able to contain expense growth while driving rent growth through renovations to over 1,350 units.”

The portfolio comprises four rental apartment communities totaling 16.6 million rentable square feet, including Bella Vista at Boca Del Mar, Centro at Davie, Stonybrook Apartments and Savannah Lakes.

Bella Vista at Boca Del Mar is a 392-unit, residential community constructed in 1985. Bella Vista is served by A-rated schools and is located within 10 minutes of area business districts in Boca Raton and Cypress Creek, as well as attractions including local beaches, the Town Center at Boca Raton and Mizner Park.

Centro at Davie is a 494-unit residential community constructed in 1989 and located within walking distance of a number of college campuses, including Nova Southeastern University, Florida Atlantic University, Broward College and the University of Florida’s Broward County campus. The community is located within 15 minutes of local beaches, as well as business districts in Sunrise, Plantation, Cypress Creek and Fort Lauderdale.

Stonybrook Apartments is a 264-unit residential community, constructed in 2001, ideally positioned between West Palm Beach, Boca Raton, Boynton Beach and Delray Beach, and offers residents simple access to the Florida Turnpike and Interstate 95, as well as local beaches. Since 2010, the area has seen an 11.4 percent growth in population.

Savannah Lakes is a 466-unit residential community constructed in 1991. Located just west of Interstate 95, the property is just 16 minutes from downtown Delray Beach; within five minutes of ample dining, shopping and entertainment options; and offers convenient access to business districts in West Palm Beach, Boca Raton, Boynton Beach and Delray Beach.

As the nation’s largest apartment operator, Greystar currently manages over 37,500 units in Florida, of which Greystar owns 5,500. Globally, Greystar owns over 110,000 units and manages 400,000.

ARA Newmark, A Newmark Company, represented Greystar in the transaction. Executive Managing Directors Hampton Beebe and Avery Klann, and Director Jonathan Senn completed the assignment.

“A value-add portfolio of this magnitude in South Florida is rare. As a result, the depth and quality of the bidders included some of the largest institutional real estate investors in the world. We expect these high-quality assets to carry on as top performing properties in their respective submarkets,” said Hampton Beebe, Executive Managing Director at ARA Newmark.

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CONYERS, GA – Balfour Beatty Communities announced it has been selected to manage Mainstreet at Conyers, a 192-unit market rate apartment community located in Conyers, Georgia. The Philadelphia-based residential real estate investment and management company will deliver management services for the property as part of its wide-ranging relationship with the property’s owner, Apex One Investment Partners.

Mainstreet at Conyers offers one-, two- and three-bedroom floor plot options averaging more than 1,100 square feet and featuring open layouts, ample closets, private patio/balcony and optional garage and storage unit space. Common area amenities include a fitness center, pool, sundeck and grilling stations, playground and laundry facility.

Located at 1501 Renaissance Drive in Conyers, Mainstreet at Conyers delivers simple access to I-20 and the Atlanta metro area. The area offers a superior suburban lifestyle with gorgeous parks, premier shopping destinations, historical appeal and abundant recreational amenities.

“Balfour Beatty Communities was the natural choice to manage Mainstreet at Conyers given their extensive footprint in Georgia and proven management experience,” said Tim Burns, principal for Apex One Investment Partners. “We’re excited to work with them on this acquisition and continue to build our partnership.”

Balfour Beatty Communities has more than 50,000 residential units and $6 billion in real estate assets under management and has developed or renovated more than 29,000 units with a total value of close to $4 billion. 

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