DALLAS, TX – Inland Real Estate Acquisitions announced that it facilitated the acquisition of 7900 at Park Central Apartments, a 308-unit multifamily property centrally located in the Medical City area of Dallas. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction on behalf of an Inland affiliate.

Located at 7900 Churchill Way, near the intersection of Interstate 75 and Interstate 635, the property is situated on more than six acres and was constructed in 1998. 7900 at Park Central consists of 14 four-tale buildings featuring 99 one-bedroom, 151 two-bedroom and 58 three-bedroom units with an average size of 1,046 square feet, a clubhouse and two parking garages, providing a total of 600 garage parking spaces. Each unit includes granite countertops, stainless steel appliances, nine-foot ceilings, oversized walk-in closets and full size washers and dryers. The property offers residents a variety of community amenities, including a resort-style swimming pool, a lap pool, grilling area, fire pit with lounge seating, two landscaped courtyards, two state-of-the-art fitness centers, a lounge with a fully equipped kitchen and coffee bar, a game room with billiards, a dog park, a pet wash center and a business center.

“The property’s ideal, central location in Medical City, where more than 1,200 physicians are employed at the full-service adult and pediatric hospitals, emergency rooms, outpatient clinics and diagnostic centers, fills a housing need in a major employment area and made it a very attractive acquisition,” said Tice. “Additionally, the city recently announced plans to develop Dallas’ only Costco location across the street from 7900 at Park Central Apartments, providing convenient retail access for residents.”

As of the acquisition date, the property was approximately 95 percent leased.

To date, Inland Real Estate Acquisitions, Inc. has facilitated $44 billion of buys including retail centers, single-tenant properties and a total of $4 billion in apartments.

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LOS ANGELES, CA – The Turner Multifamily Impact Fund, a real estate investment fund managed by Turner Impact Capital that addresses the nation’s growing shortage of affordable workforce housing, has recently expanded its portfolio with the acquisition of three multifamily housing communities in the San Antonio and Atlanta metropolitan areas. The acquisitions expand the fund’s total portfolio to approximately 3,200 units of workforce housing.

The new acquisitions, all garden-style communities, are San Mateo, 252 units in Northeast San Antonio, 11 miles north of Downtown; The Grove, 276 units four miles west of San Antonio International Airport; and Sinclair, 320 units in Norcross, Georgia, northeast of downtown Atlanta.

Each acquisition advances the fund’s objective of acquiring, enriching and preserving critically needed rental housing for families who earn less than the area median income and live in densely populated, ethnically diverse urban communities. Residents include community-serving professionals such as teachers, police officers, health care workers, service workers and others who earn too much to qualify for subsidized housing, but not enough to afford higher-cost apartments or home ownership in areas near their workplaces.

The Turner Multifamily Impact Fund seeks to address the nation’s acute housing affordability crisis by preserving the workforce housing status of the properties it buys and implementing property management improvements and resident-focused services that drive positive social and environmental impact – while generating strong risk-adjusted financial returns for leading private and institutional investors. These programs may include afterschool tutoring, community health and well-being services, and neighborhood watch programs.

The fund currently owns and manages nine multifamily properties, and is expected to eventually buy and manage up to $1 billion in apartment communities throughout the country over the next two years. Other fund properties are located in or near Dallas, Austin, Las Vegas, Miami-Fort Lauderdale and Washington, D.C.

“Millions of community-serving employees, the backbone of our society, are burdened by rising rents and a worsening shortage of suitable housing, especially in urban communities,” said Bobby Turner, Principal and CEO of Turner Impact Capital. “The demand for quality workforce housing has never been higher. These new acquisitions will help ensure that the existing housing stock remains affordable in these densely populated markets, making a real difference in the San Antonio and Atlanta communities.”

San Mateo consists of 252 units in nine three-tale buildings across 10.9 acres. Community amenities include a pool, a basketball court and a student/business center. The property is located within two miles of several public schools in the Northeast School District, less than eight miles to the Brooke Army Medical Center, and 12 miles from the USAA corporate campus.

The Grove consists of 276 units in 30 two- and three-tale residential buildings on just over 11 acres. Amenities include two swimming pools, a clubhouse with a business lounge and fitness center, landscaped grounds and on-site laundry. The property is located in close proximity to multiple retail and recreational amenities, including HEB Alon Market, Barnes & Noble, Target and World Market, as well as Hardberger Park, a 311-acre park with hiking and biking trails, dog parks, picnic areas and children’s playgrounds.

Sinclair consists of 320 units in 32 two-tale residential buildings and a clubhouse on nearly 29 acres. Amenities include a swimming pool, fitness center, two tennis courts, sports court with soccer nets and landscaped grounds. The property is less than a mile south of I-85, offering convenient access to several nearby employment hubs, including the Tucker Office Core, Central Perimeter/Pill Hill, Technology Park, and The Sugarloaf Office District.

“San Antonio and Atlanta are dense, high-demand areas with a strong workforce population in need of fantastic housing options. In fact, some of our new acquisitions are located near charter school campuses built by our affiliate, the Turner-Agassi Charter School Facilities Fund,” said Gee Kim, President of Multifamily Housing Initiatives for Turner Impact Capital. “These attributes help us earn a market-rate investment return for investors and improve the communities through resident-focused services in education, health care and security.”

Earlier this year, Turner Impact Capital announced that celebrated actress and philanthropist Eva Longoria has joined forces with the firm as a partner and ambassador for the Turner Multifamily Impact Fund. In those roles, Longoria will help raise awareness about the critical need for workforce housing in the United States and help ensure that the fund is meeting the needs of residents in urban communities. Longoria, a native Texan, has long had close ties to the San Antonio community through the philanthropic work of the Eva Longoria Foundation.

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VIERA, FL – Watercrest Senior Living Group proudly welcomes residents to the opening of the premier Market Street Memory Care Residence in Viera, Florida. The 44,000 square foot, 60-unit memory care community, built by Walker and Company, offers world-class care, multi-sensory programming, extraordinary culinary experiences, and unparalleled associate training honoring seniors and their families.

Designed, owned and operated by Watercrest Senior Living Group, Market Street Memory Care Communities connect the hearts and minds of residents by stimulating their senses with the purpose of re-experiencing memories. Market Street Memory Care Residence of Viera is an innovative and artfully designed memory care community envisioned by Market Street co-owner, Marc Vorkapich, and the first of three Market Street communities currently under development by Watercrest Senior Living Group.

“We celebrate this momentous occasion welcoming the first residents, families and associates to Market Street, with a collective focus to dramatically enhance the lives of seniors living with Alzheimer’s and dementia through innovation and exceptional standards of care,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group.

Market Street Memory Care Residence of Viera features an inviting and purposeful LifeBUILT design, including spacious accommodations, abundant natural lighting, internal courtyards with lush gardens, circular walkways, visual cueing and multiple social gathering places.

Market Plaza, a highlight and central gathering space for residents, boasts a timeless charm with fresh flowers, trees and an enticing streetscape, all surrounded by the calming sounds of nature. Residents delight in the comfort of familiar activities such as visiting the Post Office and Newsstand, browsing the Art Gallery, sampling fresh pastries at the Bakery, or visiting the Salon and Spa for special pampering.

“We are honored to open our doors at Market Street and initiate a profound impact on the lives of seniors and their families while making common unity partnerships to benefit our neighbors, associates and the community of Viera,” says Stephanie Walsh, Executive Director of Market Street Memory Care Residence of Viera.

All Market Street associates receive world-class training in the field as Nationally Certified Dementia Care Practitioners and their cutting-edge memory care programming includes Personal Life Silhouettes, Music & Memory, Memories in the Making, For the Like of Color, multi-sensory culinary and gardening experiences, as well as personal well-being activities.

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