VIRGINIA BEACH, VA – Kettler, one of greater Washington, D.C.’s leading real estate development and property management companies, announced the opening of Sparrows Point, a 300-unit townhome and apartment community in Virginia Beach, Virginia. 

The newly renovated Sparrows Point community offers one, two, and three-bedroom homes featuring espresso cabinetry, stainless steel appliances, plank flooring, washers and dryers in select units as well as high-quality lighting fixtures.

In addition to the interior upgrades, Sparrows Point has completed exterior community upgrades to include new siding on the buildings, a new outdoor resident lounge equipped with welcoming furniture, grills and a kid-friendly splash pad. Residents of Sparrows Point will also delight in an upgraded laundry room that includes a lounge and state-of-the-art package storage area.

Rental price ranges for the community are approximately $900-$1,225 per month for the one-, two- and three-bedroom apartments and townhomes.

KETTLER and KETTLER Management are owners, operators, and developers of apartments, condominiums, and mixed-use projects in the Washington, D.C. metropolitan area and throughout the mid-Atlantic region. KETTLER Management successfully manages 31,000+ apartments for KETTLER and 3rd party clients in the Northeast, Mid-Atlantic, Southeast and Texas, and offers a full range of services to corporate and institutional real estate owners.

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IRVING, TX – Dallas Metro’s Las Colinas submarket is embarking on the next chapter of its success tale. Jefferson Eastshore, a 286-home Class A luxury apartment community has closed financing and started construction, according to experts at JPI, a leader in the development of Class A multi-family housing.

The community will feature modern amenities such as conditioned corridors, a rooftop terrace overlooking Lake Carolyn, urban mud rooms, private yards, separate showers, and quartz countertops and is expected to be start initial occupancy in fall of 2018.

“Las Colinas continues to outperform the Dallas Metro submarket,” said Matt Brendel, senior vice president and development partner at JPI. “With its access to the best lifestyle amenities the submarket has to offer, we predict Jefferson Eastshore will be extremely successful.”

The community sits on Lake Carolyn, just a block away from the Irving Music Factory and Water Street, scheduled to open later this year. Current residents and newcomers to the area will be attracted to Jefferson Eastshore’s innovative apartment amenities along with life in close proximity to Las Colinas’s modern live/work/play offerings, including:

Direct promenade access to Lake Carolyn

Resort-style pool overlooking the lake

State-of-the-art fitness center and Yoga studio

Walking distance to the Irving Convention Center DART station

“Las Colinas is JPI’s home and we are proud that our investment in the area has contributed to the area’s success,” added Brendel. “We know firsthand that Jefferson Eastshore residents will delight in the best of Las Colinas living.”

JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S., and is the most active multifamily developer in DFW with 3,874 apartment homes under construction. Headquartered in Irving, Texas, JPI also has offices in California, Arizona and New York.

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NEW YORK, NY – Care Investment Trust, a real estate investment company exclusively focused on the seniors housing sector, expanded its relationship with Inspirit Senior Living with the acquisition of two properties in Pennsylvania for $13,000,000.

The communities, located in the boroughs of Macungie and Palmerton, will be rebranded as, “The Willow, an Inspirit Senior Living Community” and “The Palmerton, an Inspirit Senior Living Community,” respectively. The properties were built between 2002 and 2003, have a total of 111 units, and were approximately 90% occupied at closing.

Care and Inspirit intend to spend approximately $850,000 to refurbish the communities with the goal of increasing efficiencies and enhancing the resident experience. Affiliates of Inspirit will operate and manage the communities.

Salvatore (Torey) Riso, President and Chief Executive Officer of Care, remarked, “I am very pleased that Dave McHarg and the Inspirit team have chose to grow their portfolio through a continuing partnership with Care Investment Trust. A hallmark of Care’s strategy is to first partner with best-in-class operators like Inspirit and then to expand these relationships when the opportunity presents itself. We are particularly excited about this transaction and we are confident Inspirit will further enhance the lives of the residents and staff at the communities.”

Dave McHarg, Chief Executive Officer of Inspirit, said, “The Palmerton and The Willow are vital parts of the fabric of their respective towns. Inspirit is honored to be their new operators, and we look forward to working closely with the local teams to transform the newest properties in Inspirit’s growing network into even better communities for Lehigh Valley’s seniors.”

Inspirit currently operates and manages four properties in TN, VA, and PA, and is pursuing other opportunities to add to its growing portfolio.

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