DALLAS, TX – Transcontinental Realty Investors (TCI), Southern Properties Capital, and Abode Properties, a Texas real estate investment chain of companies, recently closed on their newest Class A asset, The Lofts at Reynolds Village (The Lofts).

The Lofts at Reynolds Village is a 201-unit facility in Asheville, NC situated in the walkable community of Merrimon Avenue. The property is conveniently close to commerce and retail with simple access to I-26. With its modern design, convenient location, and efficient and energy saving details.

The Lofts offers the ease of apartment living with all the amenities you would expect in luxury condo ownership. Each unit comes with a washer and dryer, granite countertops, upgraded kitchen cabinets, and plantation shutters. The exterior amenities include a resort style pool with sauna and Jacuzzi, lush landscaping, elevators, and a recycling program.

Asheville, North Carolina is the largest city in Western North Carolina with over 80,000 residents. The Asheville-Brevard metropolitan area includes four counties with a combined population of nearly 400,000. Asheville has been listed as one of the “Top 25 Small Cities for Art” several times by American Style magazine and Southern Living named it “One of 10 Tastiest Towns in the South” in 2013. The city is located in the gorgeous Blue Ridge Mountains and is known for its white water rafting. In 2016 Asheville ranked 40th in Forbes Magazine’s “Best Places for Businesses and Careers.”

The combination of a strong job market, notable performing arts, vibrant dining scene, and outdoor recreation fits TCI’s overall approach to the types of geographic areas chosen to develop and buy new assets.

“We are always searching for exciting markets in which to expand. All of the above mentioned strengths of the Asheville market and the opportunity to buy such a fantastic asset fall perfectly in line with our strategy to add assets in select markets with the strongest growth potential,” commented Executive Vice President of Multi-Family Operations, Brad Kyles.

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SAN FRANCISCO, CA – Can’t live without your artisanal coffee, avocado toast or an indie record store? Columbus is the place for you, according to a new data collaboration from realtor.com, a leading online real estate destination operated by News Corp subsidiary Go, Inc., and Yelp, the company that connects consumers with fantastic local businesses. Released today, the realtor.com Yelp Hottest Hipster Markets in America list identifies the most in-demand housing markets in the U.S. with the highest concentrations of “hipster” businesses for home buyers looking to embrace indie culture.

In rank order, the Hottest Hipster Markets in America by ZIP code include: Columbus (43202), Seattle (98122), San Diego (92104), Fort Wayne, Ind. (46802), Rochester, N.Y. (14620), San Francisco (94117), Long Beach, Calif. (90814), Louisville, Ky. (40217), Grand Rapids, Mich. (49506) and Colorado Springs, Colo. (17820).

“Although their opinions about their music and fashion may be out of the norm, when it comes to real estate — hipsters have a knack for getting it right,” said Javier Vivas, director of economic research for realtor.com®. “Based on our research, there’s clear evidence that “hipster” popularity – in markets like Austin, Texas – has led to mainstream interest and higher home prices over time. Whether it’s the farm-to-table restaurants or urban renewal projects that were already underway, a concentration of hipsters seems to be an indicator of a hot housing market.”

From a housing perspective, all the markets on the realtor.com® Yelp Hottest Hipster Markets in America list have strong market dynamics, showing healthy buyer demand with homes selling in an average of 30 days. Each market also has low or average unemployment rates ranging from 2.7 percent to 4.6 percent, compared to 4.4 nationally.

With all the hipster businesses in town it comes as no surprise that these markets are also highly sought after by millennials. Overall, millennials — ages 25 to 34 — in the top ten markets make up an average of 22 percent of the population, higher than the national population share of millennials of 13 percent. Additionally, these markets are continuing to draw interest from a younger crowd, as the millennial age group is viewing property listings at a rate 1.2 times greater than the share of millennials already living in the area, indicating strong interest from other millennials wanting to go into these neighborhoods.

Yelp data shows that mentions of “hipster” occur across a wide range of businesses, from music venues and dive bars, to restaurants, barbers, and vinyl record shops. While some cities and ZIP codes, like Seattle, may be more recognizable as traditional hipster havens, Yelp data shows that there are many under-the-radar locations where Yelpers have identified neighborhoods that tout cool, hipster businesses. The average star rating of businesses with mentions of hipster in the Columbus zip code is 3.8, with the top 10 ZIP codes averaging 4 stars. Beyond searching for hipster businesses, Yelp also offers tools for homeowners like Request a Quote, which allows people to send requests to up to 10 home service providers at once.

“Yelpers are fantastic at identifying up-and-coming areas and businesses, which allows us to predict trends as well as uncover detailed data on what’s happening in local economies right now,” said Carl Bialik, Yelp data editor. “While ‘hipster’ is something of a cliche, it turns out to be a useful term to uncover the types of businesses and attributes we often associate with cool hunters, such as visually appealing interiors and less touristy parts of town.”

The realtor.com Yelp Hottest Hipster Markets in America list was developed by first leveraging Yelp data to rank ZIP codes by the greatest gap between the share of reviews in the ZIP containing the word “hipster” and the share in the ZIP’s city. The realtor.com® Market Hotness Index was then calculated for each market (based on realtor.com® page views and days on market). Markets were then ranked based on a composite index made up of both the Yelp differential and the realtor.com hotness index. Only one ZIP code per metropolitan area was included. The neighborhoods listed have the most businesses associated with that neighborhood within the ZIP code.

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DENVER, CO – Starlight Investments announced its institutional partners in connection with its previously announced Partnership as the Public Sector Pension Investment Board and the Alberta Investment Management Corporation, on behalf of certain of its clients. In addition, Starlight is announced that the Partnership has commenced its acquisition program with the buy of Parkhouse Apartment Homes, a 465-unit, Class “A”, garden style, multi-family property constructed in 2017, and located in Denver, Colorado.

“We are entering into this newly formed Partnership with fantastic excitement and expectations,” said Neil Cunningham, Senior Vice President, Global Head of Real Estate and Natural Resources at PSP Investments. “We are looking forward to working closely with Starlight and AIMCo to assemble a large, professionally managed, institutional quality portfolio of multi-family properties in select U.S. markets.”

“AIMCo is pleased to enter the Partnership and excited about the opportunity to expand our multi-family footprint to new markets,” said Micheal Dal Bello, Senior VP, Real Estate of AIMCo. “The Partnership capitalizes on the synergies of our respective investment programs and makes a long-term platform to generate the returns required of our clients and stakeholders.”

The Partnership was formed to buy U.S.$1.3 billion of Class “A”, recently constructed, garden style multi-family communities located in the suburban markets of Atlanta, Georgia; Austin and Dallas, Texas; Denver, Colorado; Orlando and Tampa, Florida; and Phoenix, Arizona. Specifically, the Partnership will target submarkets that demonstrate superior rental income growth potential due to positive multi-family dynamics including compelling population, economic and employment growth.

“We are extremely pleased to buy the first in a number of multi-family properties with two prominent global institutions and continue the expansion of the Starlight U.S. multi-family platform,” added Daniel Drimmer, CEO and President of Starlight Investments. “We look forward to building a premium multi-family portfolio in conjunction with PSP Investments and AIMCo.”

Denver is one of the fastest growing U.S. metro areas with the lowest unemployment rate. The city is consecutively voted as the best place for businesses to grow by Forbes, with employers continuing to relocate and add jobs at a considerably quicker rate than the national average. Denver is also a city where millennials, who are a key renter demographic, are the largest and fastest growing population group.

Parkhouse is ideally located in the prosperous northern corridor of Denver. The downtown is approximately 25 minutes to the south, providing simple access to major employment centres and entertainment. Within walking distance to Parkhouse is access to major retail hubs and local hospitals. Parkhouse is a luxury complex consisting of 20 three-storey garden style apartment buildings, offering top of the market amenities including two clubhouses with fitness and business centres, a games room and a bike and ski repair shop. Outdoor amenities include two resort style swimming pools, outdoor kitchens, neighborhood parks and walking trails.

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