CHARLOTTE, NC – Preferred Apartment Communities announced that it closed on an aggregate loan investment of up to approximately $17.7 million.  This investment is in connection with Oxford Properties plans to develop a 338-unit Class A multifamily community located in Charlotte, North Carolina. 

Additionally, with this investment, PAC received an option to buy the multifamily community following stabilization at a discounted price to market.   

“We continue to originate real estate loan investments that provide both attractive current returns and the opportunity to buy outstanding properties at a discount to stabilized value,” said John A. Williams, the Company’s Chief Executive Officer. 

Mr. Williams added, “This site is in a fantastic sub-market of Charlotte and is a part of a transit oriented development (TOD) directly across from the blue line light rail extension.”

Preferred Apartment Communities was formed primarily to buy and operate multifamily properties in select targeted markets throughout the United States.  As part of its business strategy, they enter into forward buy contracts or buy options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties. 

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DENVER, CO – Country Club Towers II & III, a Broe Group development, opened to its first residents, bringing a million square feet of premier luxury living to Denver. The iconic two-building structure, located at Bayaud and Downing, is five minutes from everywhere, surrounded by Denver’s Wash Park, the Cherry Creek neighborhood, downtown Denver and Country Club.

“With Denver area housing inventory at record lows, consumers are choosing the benefits of luxury apartment communities without the commitments and risks of home ownership,” said Walter Armer, vice president of development for the Broe Real Estate Group.  “Country Club Towers II & III feature the best of Denver luxury apartment living – the ideal location, the city’s best views, and the most premium amenities.”

The architectural innovation of Solomon Cordwell Buenz provides the towers’ signature profile with a sawtooth exterior configuration – the only of its kind in Denver luxury apartment living. The impact is immediately felt in every home through floor-to-ceiling bay windows that unlock mountain views from an unprecedented three of four directions, doubling the view for interior units.

Denver luxury apartment living is in high-demand because it appeals to an increasingly broad group of consumers, including empty nesters, super-commuters and young professionals. These varied groups seek the flexibility of maintenance-free city living without a long-term commitment; and value convenience of on-site entertainment, fitness and personal services.

Beginning today, residents of the first 281 available units are moving into their new Tower 2 homes which have the exclusive amenities that include a 5,000 square foot fitness center and outdoor pool, patio and lounge area; the professional space of a library and conference room, and social amenities that feature a theater room, demonstration kitchen, bar and party room. Nearly 1,000 underground parking spaces ensure parking for the 552 unit community.   

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STARKVILLE, MS – EdR, one of the nation’s largest developers, owners and managers of high quality collegiate housing communities, announced that the Board of Trustees of State Institutions of Higher Learning approved the predevelopment agreement related to the recently announced College View university housing development at Mississippi State University. 

“As our campus and enrollment continue to grow, we believe there is potential with College View to make a truly unique project for the state, benefiting our students, faculty and staff, as well as alumni, local residents and visitors,” said Mississippi State University president Mark E. Keenum. “We look forward to exploring our options as we take the next steps forward.”

Current plans call for the creation of a multi-phased university village anticipated to include 650 beds in Phase I for delivery in the fall of 2019 and potentially 950 additional beds in subsequent phases. It will also feature retail and restaurant space, recreational amenities, an outdoor entertainment zone, a day care center and parking.

“We are proud of this partnership with one of the top universities in the South,” said EdR CEO Randy Churchey. “This development is an brilliant candidate to be financed through our One Plot equity financing. As designed, College View will be both a living-learning space for students and a gathering place for the Mississippi State community as a whole. It’s an honor to be selected to make this transformational development.”

The ONE Plot is EdR’s on-campus equity plot which uses the company’s equity and financial stability to fund projects on university land. This program gives the university access to a single trusted partner, and helps make substantial long-term financial benefits for EdR and its partner university.

This development is subject to final negotiation of definitive agreements with the university.

Founded in 1878, Mississippi State is ranked among the country’s leading research universities and had a 2016 enrollment of 21,622 with a record number of first-year students enrolled (3,624) last year.

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