MIG Real Estate Completes Acquisition of 209-Unit Trails at Harris Apartments in Mesa, Arizona

MESA, AZ – MIG Real Estate, a Newport Beach-based real estate investment company, announced the acquisition of Trails at Harris Apartments, a 209-unit multifamily property in Mesa, Arizona. Trails at Harris Apartments will undergo significant enhancements as MIG Real Estate makes a more attractive for-rent housing option in one of the fastest-growing cities in the nation.

Originally constructed in 1983, the garden-style community is located on 9.94 acres on the Gilbert-Mesa border at 1653 South Harris Drive. One and two-bedrooms average 766 square feet, and include all-electric kitchens, walk-in closets, standing showers and linen closets. Outdoor balconies or patios and stackable washer and dryers are available in select units.

Though well-maintained, the apartments are a value-add opportunity for MIG Real Estate. Interior renovations will include updated countertops, a stainless-steel appliance package, new cabinetry, synthetic plank flooring, updated light and plumbing fixtures in all units. The leasing, fitness and pool areas will undergo renovations to freshen the space and enhance use.

The third most populated city in Arizona, Mesa boasts a highly skilled, well-educated workforce. Trails at Harris Apartments is just south of US-60 between Gilbert Road and Stapley Drive and is located across the street from Harris Elementary School in the highly desirable Gilbert School District, which is among the highest ranked school districts in the Metro Phoenix area. The property is also located close to three major retail centers – Mesa Grand, Shoppes at Gilbert Commons and Township Plaza – providing tenants shopping variety and convenience.

Tenant opportunities for relaxation and recreation abound, as the property is within walking distance of Emerald Park, and within close proximity to AMC Theaters, McQueen Park & Activity Center, Gilbert Riparian Preserve, Superstition Springs Country Club and Gilbert Municipal Recreation Parks.

MIG Real Estate continues to aggressively increase its multifamily portfolio and transacts with no financing contingencies and closing in 45 days or less. Trails at Harris is the second multifamily acquisition in the Phoenix Metro market in the last two months, taking the portfolio to approximately 7,000 multifamily units throughout the Western U.S. and Texas.

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Development Underway for 305-Bed Student Housing Community Serving California State University

SACRAMENTO, CA – GMH Capital Partners of Newtown Square, PA and AGC Equity Partners of London, United Kingdom announced the acquisition of a strategically located property in Sacramento, CA. The Partnership will develop a state-of-the-art student housing community serving California State University – Sacramento. The development will be named “The Academy on 65th” and will feature a first class amenity package for 305 students. The Academy on 65th is scheduled to open in August of 2019.

The plot for the community includes a vibrant design that enhances its ideal location for California State University – Sacramento students. The main entrance will be situated along 65th street, steps away from the Hornet Crossing entrance, a pedestrian and bike trail leading directly to campus.

The upscale fully-furnished apartments will be complimented by a large selection of amenities including a fitness center, game room, motion studio, ample study space including private rooms, bike storage, covered parking, an outdoor courtyard including grilling stations, a large hot tub, games and more. Each unit will include a flat screen TV, quartz counter tops, stainless steel energy-efficient appliances, in-unit washer and dryer and hardwood-style flooring.

“GMH feels this is a perfect opportunity to develop a Core property in a market that has yet to see Class A pedestrian properties,” stated Gary M. Holloway Jr., President of GMH.  “The Academy on 65th will be a fantastic new addition to our Ultra-Core student housing portfolio,” finished Mr. Holloway Jr.

GMH most recently announced their new Partnership with AGC Equity Partners to buy and develop Core and Value-Add student housing properties.  GMH University Housing will be managing The Academy on 65th and leasing is set to start in August 2018.

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Denver Metro to Welcome New LEED Gold 159-Unit Mixed-Use Apartment Community for Active Adults

DENVER, CO – International award-winning KTGY Architecture + Plotting announced today that Vita, a LEED Gold-designed 55+ mixed-use residential rental apartment community in the Denver Metro area is nearing completion. The sustainable 159-unit apartment community developed by Denver-based Zocalo Community Development and designed by KTGY provides quick access to walking/biking trails, art galleries, antique shops, specialty shops, clothing boutiques, and trendy and quaint restaurants and bars in historic Downtown Littleton, Colorado. The age-qualified community is also situated just one block from a RTD Light Rail station, providing transportation to downtown Denver and Denver International Airport.

Located on the eastern edge of Downtown Littleton at 2100 West Littleton Boulevard and steps from the RTD downtown Littleton light rail station on South Prince Street, the development’s ideal location is a key benefit, notes Terry Willis, AIA, LEED AP and managing principal in KTGY’s Denver office. “In addition to all of the fantastic amenities that Downtown Littleton has to offer, Vita’s proximity to transit further serves the active empty-nesters, allowing them an simpler commute to work or shopping and entertainment locations throughout the metropolitan area, without the need of a private vehicle,” said Willis.

Vita is a combination of nearly 11,000 square feet of neighborhood-serving retail and restaurant space as well as 159 luxury apartments including one guestroom and live/work units on the ground floor. Residents will delight in Vita’s community amenities including saltwater pool, a year-round hot tub, community garden, pet spa and pet-friendly play park, bike and walking trails, fitness and yoga studios, community and craft rooms, a bicycle maintenance and repair shop, community kitchens, and weekly programmed events. Other outdoor amenities include a fireside lounge, outdoor kitchen and dining area, and an outdoor amphitheater.

Willis notes that the architecture features clean, modern lines and quality materials. The brick facades facing the neighborhoods present a dignified townhome expression, while the colors, geometric forms and rooflines of the train track’s side break-up the massing in a dynamic composition, expressive of movement. “The ground-floor retail activates the street and there are also several distinct and elegant interior and exterior gathering spaces where residents can engage and connect while enjoying the panoramic mountain views,” said Willis.

Vita’s spacious and thoughtfully designed one- and two-bedroom floor plans ranging from 701 – 1,520 square feet, feature designer finishes, Energy Star® stainless-steel appliances and high-end kitchens with gas ranges. Residents can effortlessly entertain their guests or dine al fresco on their private balcony or patio as the sun sets over breathtaking mountain or city views. Vita offers a guest suite for nightly rental.

Currently pursuing U.S. Green Building Council LEED Gold certification, KTGY incorporated a number of green features designed to ensure Vita’s long-term efficiency and sustainability, including a photovoltaic solar array to generate power that is given back to the energy grid, reducing the amount of carbon pumped into the atmosphere; high-performance sink faucets, showerheads, and dual-flush toilets, which use 34 percent less water; and low VOC (volatile organic compounds) paints, adhesives, sealants and carpets with no added urea-formaldehyde, which means improved air quality. Vita is also a 100-percent smoke-free environment.

“By incorporating sustainable design and construction practices early in the plotting process, issues like air leakage, acoustics, indoor, air quality and the composition of building construction are never an afterthought,” said Willis.

The development also incorporates low-E, high STC (sound transmission class) windows to reduce noise pollution and heat gain but let the light shine. These large windows allow the sunlight to flood in but keep the radiant heat out. This keeps the resident’s apartment toasty during the winter and reduces heat build-up in the summer. With a high level of STC, noise pollution is reduced, which gives residents the peace they deserve. High-efficiency LED lighting is used throughout the building and has been designed with the highest level of utility savings and overall sustainability in mind.

“This new sustainable community celebrates a pedestrian-friendly lifestyle, unparalleled amenities, an on-site neighborhood eatery, and historic Main Street―all steps from the RTD Light Rail station with simple access to the greater Denver area,” said Willis. Willis has been invited to speak at the LeadingAge Colorado Conference in May 2018, along with Susan Maxwell, principal and chief operating officer of Zocalo Community Development and other panelists to discuss “Leveraging Connections: Boomers in the City.”

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