LOUISVILLE, KY – CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, announced the acquisition of Avana Southgate, a 256-unit apartment community on the south side of the state’s largest city.

Situated less than 20 minutes from downtown Louisville, the community sits in close proximity to the city’s primary thoroughfares and within nine miles of Louisville International Airport. CAPREIT will renovate parts of the community and add washers and dryers to select homes.

“It’s tough to beat the fantastic location of Avana Southgate, with several local businesses in the immediate area and prime access to key destinations throughout the Louisville area,” said Ernie Heymann, Chief Investment Officer at CAPREIT. “The community will serve as an brilliant housing option for the many local-business employees, as well as those who commute to the airport or the downtown corridor.”

Located at 10960 Southgate Manor Drive, Avana Southgate is within minutes of Route 61 and Interstate 65, which offer expedient access to professional employment opportunities throughout the metro area. That includes Worldport, the worldwide air hub for the United Parcel Service. The airport-based hub has more than 20,000 employees. The community also is a small drive from Interstate 265, the gateway to desirable and affluent suburbs on the east side of the city.

Nearby attractions include historic Churchill Downs, Kentucky Exposition Center, Quail Chase Golf Course, Southgate Shopping Center and Jefferson Mall. The community is within walking distance of a Kroger grocery store, a Jimmy John’s sub shop and several other quick-casual restaurants. Commuters are a three-minute walk from the Hillview Woods stop on the Louisville TARC bus line on Mud Lane. Less than a mile east, Blue Lick Park is home to several recreational outlets, including athletic fields, running trails and picnic areas.

CAPREIT’s plotted renovations for Avana Southgate include upgraded stainless steel appliances, plank flooring, new cabinet fronts, two-tone paint and updated plumbing and lighting fixtures. Existing amenities at the pet-friendly community include a state-of-the-art fitness center, resort-inspired swimming pool, resident clubhouse, business center, personal garages and storage areas, grilling areas and tennis and basketball courts.

Avana Southgate consists of 1- and 2-bedroom apartments ranging from 680 to 1,488 square feet. The apartments feature 9-foot vaulted ceilings, private balconies or patios, oversized pantries, washer and dryer connections and gas fireplaces in select homes.

Including Avana Southgate, CAPREIT currently owns and operates nearly 14,000 units across the nation.

Powered by WPeMatico

DALLAS, TX – Pinnacle, one of the nation’s leading multifamily management firms, announced it has been selected to manage a new 281-unit apartment community in Richardson, Texas. The Mallory Eastside, located at 1705 North Greenville Avenue, is in the heart of Richardson’s telecom corridor just minutes from UT Dallas. Residents of this luxury community will delight in a high concentration of nearby restaurants, retail centers, major employers, and recreational facilities. Approximately one mile south of the SH 75 and 190 interchange, the property is accessible from all points of the Dallas metropolitan area via major roadways and the DART rail.

“This property will introduce exclusive and boutique ground-breaking amenities to the Richardson market,” clarifies Toni Rials, regional vice president for the North Texas Market. “The Mallory’s rooftop lounge will make a sense of community among residents and the 70′ lighted sculpture will be an iconic draw visible from the neighboring roadways.”

The Mallory Eastside Apartments is a pet-friendly community offering 14 spacious floorplans that include studio, one, and two bedroom options. The property’s modern interiors feature premium fixtures, high-end flooring, and designer kitchens complete with oversized prep islands, stainless steel appliances and polished granite countertops. Residents will also delight in perks such as a spa-inspired bathroom, full size washer and dryer, elegant high ceilings with industrial-style ceiling fans and contemporary interior color schemes.

Outside, residents can relax on the rooftop deck or poolside in a cabana, unwind in the televised entertainment area, shape up in the fitness center, meditate in a Zen courtyard or romp with their pet at the open-air park. The community also offers multiple grilling stations, breezy picnic areas, private yards, garages, and pet wash and bike repair stations. An on-site City of Richardson Art Park will house one of the city’s most distinctive works of art designed by local artist Ed Carpenter.

The project developer, Jim Dobbie with Hunt Companies states that, “The property is uniquely positioned to support the needs of the thousands of new employees moving to North Dallas.”

Powered by WPeMatico