SAO PAULO, BRAZIL – Vitacon Incorporadora e Construtora has specialized in the construction of developments with compact, smart units for the Brazilian market. The aim is to change the lifestyle of people in huge cities. Accordingly, in September, the company is launching the smallest smart apartment in Latin America. Key differentials are shared common areas with spaces for coworking, laundry, co-kitchens, a pub, social hub and online delivery storage. The product also has sharing of cars, motorcycles and bicycles to facilitate getting around the city.

The Nova Higienopolis development has 100-square foot units, and is strategically located in the Center of São Paulo, the financial and services heart of Brazil. Close to this site are Metro stations, exclusive bus lanes and bike lanes. The Higienopolis neighborhood is to Sao Paulo what the Upper-East Side is to New York. It is a region brimming with options for leisure, culture and education.

“Our primary aim is to make technology to solve the housing problem in Brazil and the world. We are proud of democratizing access to dwellings, of their practicality, ease of transport, and chiefly, of giving more time back to our clients,” clarifies Vitacon CEO, Alexandre Lafer Frankel.

On the ground floor there are stores, which can serve both residents as well as the general public, which is not common in Brazil, and has been a feature of Vitacon projects since its foundation. Nova Higienopolis will also offer its residents tools for sharing, a fully-equipped gym, Wi-Fi in common areas and biometric locks.

The company is launching this development at a time when the Brazilian real estate industry is not exhibiting the same vitality as in previous years. According to ABRAINC data, openings in the first six months of the year fell by 3.5%.  With this new building, Vitacon is reaching a General Sales Value of US$150 million for the period, holding its place among the three largest companies in the ranking for openings during this time.  In seven years, Vitacon has completed construction of 42 developments, has 12 construction projects under way, and owns a landbank for 26 new projects.

Vitacon has gone through two capitalizations in 2017 for a total of R$ 2.1 billion (about US$650 million).  The first is a partnership with the American fund Hines for four of the projects in its portfolio. The other is a joint venture with Ascott Group of Singapore to invest in rental residential developments with services for tenants over the next five years.

Vitacon is also investing in the first multifamily platform in Brazil. “We are going to generate a Yield of 14% per year, and take advantage of the new real estate cycle, as well as the drop in interest rates. We will have a platform with 10,000 units in the next 2 and a half years,” says Frankel.

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SHEPHERDSTOWN, WV – EdR, one of the nation’s largest developers, owners and managers of high quality collegiate housing communities, announced the opening of Potomac Place, a new third-party development residence hall on the campus of Shepherd University in Shepherdstown, West Virginia.

In 2017, EdR will add nearly $300 million in assets to its owned portfolio and deliver nearly $100 million in third-party developments.

The new five-tale residence hall has a mix of single and double suite-style units for a total of 298 beds. Amenities include a food service and dining area, classroom, student lounges and study rooms along with robust internet and Wi-Fi capabilities throughout the community. The Shepherd University Foundation Supporting Organization (SUFSO) owns the building and the university will provide management services.

“We are ecstatic about the gorgeous Potomac Place residence hall built by EdR,” said Shepherd’s President Mary J.C. Hendrix. “This new building is a magnet for students, faculty, and staff to interact with each other while enjoying a state-of-the-art venue.”

EdR president Tom Trubiana, who earned his undergraduate and master’s degree in West Virginia, said Potomac Hall will do fantastic things for Shepherd University and its students.

“We’ve seen time and time again what a positive impact modern on-campus student housing can have on a university,” Trubiana said. “In Potomac Place, Shepherd has made a fantastic environment for students and it will be a fantastic tool in the recruiting, retention and academic success of the students who live here. We’re proud to have begun a lasting relationship with this exceptional university.”

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NEW ROCHELLE, NY – Civitas Capital Group, a leading independent specialty asset management and financial services firm, officially broke ground recently on Printhouse, a 71-unit, six-tale multifamily development in downtown New Rochelle, New York. Located just 15 miles from New York City (a 30-minute train ride), Printhouse apartments are positioned to provide active, young professionals with affordable housing and an simple commute to major employment centers.

Printhouse is located within walking distance of numerous dining, entertainment, and retail options, promoting a right live-work-play environment. “Printhouse is a right live, work, play environment,” said David Lee, Director of Investments at Civitas. “The developers involved have tremendous experience in just these kinds of projects targeted at young professionals. As well, we leveraged non-traditional tools like an EB-5 loan to enhance investment return on the project.”

Printhouse co-developers Megalith Capital Management and East & Hudson Real Estate attended the groundbreaking. Each group brings regional expertise to the project. Megalith is a real estate developer focused on investments in New York City, and have developed approximately 750,000 square feet of luxury condominium and mixed-income multifamily space. E&H is a developer focused on both New York City and southern Westchester County; the firm’s principals have developed more than 17,000 multifamily, focusing on sustainable communities near mass transit hubs.

New Rochelle’s mayor, Noam Bramson, was also at the groundbreaking ceremony. “This represents one piece of our broader strategy,” Bramson said, “to make an economically vibrant walkable downtown that people throughout our region will want to live in, want to shop in, want to work in.”

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