DALLAS, TX – Abode Properties and Southern Properties Capital, a Texas real estate investment chain of companies recently completed construction on its newest luxury properties Parc at Bentonville in Bentonville, Arkansas and Parc at Garland in Garland, Texas. 40 year mortgages were secured for both properties at interest rates of 3.30 percent and 3.75 percent respectively. Both properties are currently in the lease up phase and offer one and two bedroom floorplans.

Parc at Bentonville is located in one of the fastest growing regions in the country. The property is 5 to 10 miles from Bentonville’s finest arts and entertainment venues including an array of restaurants, neighborhood markets, and vintage shopping. There are six available floor plans to choose from, all constructed to meet today’s demand for high standards and attractive features. Amenities include wood floors, in unit washer dryer, granite countertops, and a luxurious clubhouse. Clean lines and rich finishes with contemporary, chic palettes define the generous space of each residence.

Parc at Garland is modern living redefined. Each unit offers generous amenities including lofty nine foot ceilings, custom paint, designer finishes, gourmet kitchens, granite countertops, stainless steel appliances, spacious walk-in closets, and garden tubs. The community is equipped with a sparkling swimming pool, state of the art fitness center, fenced dog park, outdoor grilling, business center and lush landscaping. Conveniently located to Interstate 3, Parc at Garland residents are only a few miles from Lake Ray Hubbard and a small drive to Downtown Dallas.

“These assets are strong examples of Abode’s strategy to expand in economically diverse markets,” commented Daniel J. Moos, Abode’s President and CEO. “Bentonville is home to Walmart and continues to transform into a center of commerce and tourism and Garland is located in the DFW Metroplex, the fourth largest region in the nation. Both cities continue to experience population growth as well as brilliant opportunities for business and entrepreneurs.”

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LAKE HAVASU, AZ – Civitas Senior Living, a Texas-based senior living consulting, management, and ownership company, announced its role as the management company for The Views at Lake Havasu, an exciting new independent living project presented by Summerlin Asset Management, LLC, and Desert Land Group. 

“We are excited to add The Views at Lake Havasu and its future residents to our growing family of senior living communities across the country,” said Wayne Powell, Founder and CEO of Civitas Senior Living. 

The Views at Lake Havasu will be ideally situated to maximize the benefits of Lake Havasu City, with proximity to the Arizona State University Colleges at Lake Havasu as well as the city’s Main Street area. Residents will also delight in panoramic views of the lake and surrounding desert landscape. The 92-apartment community will be ideal for seniors aged 55 and better seeking the resort lifestyle offered by one of Arizona’s most active and attractive locations.

Lake Havasu City is the second most well loved place to retire in the U.S., according to a 2017 article on Time.com. The area’s moderate climate and abundance of recreational activities attract retirees seeking warmer weather. Add to that the magnificent festivals, such as the annual Havasu Balloon Festival and Honest, Festival of Lights, and the Lake Havasu Songwriters Festival, and residents will never experience a dull moment again! 

The four-tale community will feature everything seniors will need to live a lifestyle of independence, focused on what they want to do with their days. Residents seeking engagement and entertainment within the community will delight in the outdoor pool and patio areas, fitness center, media room, beauty salon, fine dining restaurant, casual dining bistro, and robust activities program. Beyond the community, Main Street Lake Havasu offers a variety of dining, entertainment, and public activities to keep seniors living the life they desire. Healthcare options are also conveniently located.

A ground-breaking ceremony was held on Jan. 18, with Mayor Mark S. Nexsen, members of the City Council, future residents, and local investors in attendance. Representatives from Civitas, Desert Land Group, Summerlin, REES Architecture, who provided design and engineering support, and Consolidated Construction were also part of the celebration. The event was abuzz with excitement as dignitaries and project administrators turned the soil with the ceremonial shovels.

Powell’s goal with this community is to provide the residents who call Lake Havasu home the same leading-edge programming and passionate care that has made Civitas a nationally recognized name in the senior living industry.

“Our passion is people, and our mission is to inspire active, healthy, and pleased lives,” Powell said. “We are grateful for the opportunity to grow this mission in Arizona.”

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SEATTLE, WA – Freshwater Investments announced the acquisition of The Lighthouse Apartments, a multifamily community in Kent, WA. This is the second property in the Seattle metro area that Freshwater adds to its portfolio. The company also owns the 93-unit Stinson Apartment Homes in Everett, WA.

Alex Rozenfeld, Freshwater Investments Founder and Managing Partner, said, “Seattle metro area continues to be a sought-after location with high potential. With this acquisition, we have nearly doubled our portfolio here and made new opportunities for our investors.”

The seller of the property was TruAmerica Multifamily, and its Dispositions & Investment Management Director Christopher Wei made a comment: “Freshwater Investments was as professional a Buyer as we have transacted with. PSA negotiations were expedient, the Due Diligence process was seamless, and closing took place on time and at the price we entered escrow with, which is what we value most.”

Built in 2002, the three-tale Lighthouse community consists of 76 units and offers a mix of one- two- and three-bedroom apartment homes ranging from 716 to 1,198 square feet. The property is located within walking distance to the ShoWare Center, a bustling shopping and entertainment hub well loved with the locals and minutes away from the train station connecting Kent with Seattle Downtown. Some of the community amenities include business center, clubhouse with TV lounge, garages, fitness center and sundeck. Freshwater is plotting value-add in-unit improvements to offer better homes to the residents.

“The cost of housing in Seattle has increased significantly, which has driven residents to the suburbs,” said Corey Marx, Managing Director at JLL, the firm brokering this sale. “As a result, Kent and other suburban markets in the region have experienced strong rent growth.”

Lighthouse will be managed by Coast Real Estate Services, the largest property management company in Everett, WA with 16,000 apartment homes in Washington and Oregon under its management.

Freshwater Investments is a California based private equity real estate investment firm making opportunities for private and institutional investors to diversify portfolios and gain attractive returns through co-ownership of multifamily housing properties.

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