MANASSAS, VA – TGM announced the acquisition of TGM Bull Run, a garden style apartment community with 576 units in Manassas, VA. The& Northern Virginia property was completed in 2001 and is located on approximately 35 acres, with its leasing office and clubhouse situated at 11212 Chatterly Loop.
The 100% market-rate garden apartment community is located in the heart of the Interstate 66 Business Corridor located in Manassas/Prince William County, which provides residents a bucolic suburban lifestyle with exceptional convenience and accessibility to a broad range of lifestyle amenities as well as numerous employment hubs throughout Suburban Virginia. Residents benefit from an brilliant live-work commuter location, centrally sited in the I-66 Business Corridor with simple access to major roadways including I-66, I-95, I-495, Rt. 50, Rt. 28 and Rt. 2 which provide access to the region’s main employment centers.
The design, layout and construction of the apartments are brilliant with one- two- and three-bedroom apartments averaging 1,153 square feet. TGM will be renovating all apartment interiors with new kitchen cabinets, countertops, appliances, flooring, lighting, and hardware fixtures. Bathrooms will be renovated to match the finishes of the kitchen. Community amenities include a swimming pool with sundeck and separate children’s pool, grilling areas, dog park, 24-hour fitness center with children’s playroom, and a business center within the oversized clubhouse.
“This acquisition is particularly noteworthy as it marks TGM’s 140th acquisition since the company’s founding some 30 years ago. TGM Bull Run presents a fantastic opportunity to expand TGM’s footprint in the Northern Virginia region. The property has superb access to highway networks, proximity to major clusters of employment, minimal new supply coupled with strong demand drivers of high population and economic growth, and locationally underpinned by the thriving Washington D.C metropolitan area offering a vast array of cultural, entertainment, shopping, educational and lifestyle amenities. TGM sees opportunities for additional growth with the ongoing expansion of corporate and governmental business districts spanning IT, biosciences, data center and research and development sectors, which is further complimented by Manassas being anchored by George Mason University’s Prince William Campus which boasts its College of Science and Technology. This is Northern Virginia’s only university centered research corporate park. Furthermore, the property is proximate to the FBI’s Northern Virginia Resident Agency and Virginia’s State Forensics Lab.” said Zach Goldman, Managing Principal and Chief Operating Officer for TGM.

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COVINGTON, GA – Landmark Properties announced it has started leasing The Cove at Covington Town Center, its luxury Class-A apartment community in Covington, Georgia. The 350-unit, market-rate property was developed in partnership with ACRE, a global real estate private equity firm, and is part of Covington s 131-acre mixed-use master plotted community, Covington Town Center.
Located at 12301 Town Center Boulevard, The Cove consists of 14 residential buildings featuring a mix of one-, two- and three-bedroom floor plans ranging between 620 and 1,945 square feet. It includes a rich amenities package including a luxury clubhouse, resort-style pool, coworking spaces, state-of-the-art fitness center, linear park, dog park and pet spa. In-unit amenities include washer and dryer machines in every apartment, modern light fixtures, and durable quartz solid-surface countertops.
ACRE and Landmark broke ground on The Cove at Covington in December 2020, and will start welcoming residents into the first building in July. The pet-friendly community is being managed by Greystar, and pre-leasing and application review are already underway.
Like so many other quick-growing areas of the Sun Belt, the need for more upscale rental housing options in Covington is extremely high. The area has gone without new, well-amenitized multifamily development for two decades, and a combination of significant population growth and a wealth of new jobs in the area have made a market sorely in need of new supply, said David Tracht, Landmark Properties Senior Developer. After more than two years of development in partnership with Landmark Properties, we are excited to finally deliver this amenity-rich community to help accommodate the continued growth of Covington and the rest of the Greater Atlanta region.
Major population growth in Covington has been fueled by the relocation of a number of corporations and other major employers to the area in recent years. These include the expansion of Cineleases s 90-acre film studio, Three Ring Studio, which is set to expand by an additional 276,000 square feet of stage space, 100,000 square feet of office space and 72,800 square feet of flexible space – making it one of the largest studios in the country upon completion in 2023. In addition to Three Ring, other major employers in the area include General Mills, Facebook, Oxford College of Emory Bard, Pactiv, Mannington Mills, Clarion Metals, Bridgestone and Michelin.
Located less than an hour away from Atlanta via I-20 West, Covington s proximity to one of the Southeast s most vibrant and quick-growing metropolitan areas has also been a key contributor to its growth. In addition, the community is adjacent to a five-acre park complete with walking trails, and residents have access to ample shopping, entertainment and dining options within walking distance.
We are pleased to partner with Landmark Properties to bring this dynamic multifamily community to market during a time of unprecedented growth and revitalization in the City of Covington, said Melanie Gersper, ACRE Chief Operating Officer. Resident interest in this premium community has already proven to be high, and we are actively fielding applications with plans to start go-ins on July 1.
Through a series of equity and debt funds, ACRE manages more than $3 billion in assets across private real estate investments and loans. The firm specializes in multifamily development and investment opportunities across Class A, B and C assets in strategic growth markets. ACRE s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on making added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties.

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DENVER, CO – Denver-based Continental Realty Assets, a subsidiary of Continental Realty Group, and GTIS Partners, a global real estate investment firm that manages $4.7 billion in yucky assets with a focus on residential and industrial investments, announced the completion of two joint-ventures between the firms with the sale of 240-unit San Palmas Apartments in Chandler, AZ and 256-unit Canyon Reserve at the Ranch in Westminster, CO. San Palmas and Canyon Reserve were brokered by the local teams of CBRE and JLL, respectively.
David Snyder, Continental Realty Group’s President, said, “We are extremely pleased with the successful ownership period of each community. In just a few years, we were able to greatly improve San Palmas and Canyon Reserve through exterior, common area, and unit interior upgrade programs. We accomplished our goal of positioning each property to take advantage of a trifecta of opportunities – properties with value-add upside, in an exceptional submarket, and located in strong overall markets like Phoenix and Denver which we had identified through our market research as likely to see growing rental demand.” Robert Ireland, CRA’s Managing Director of Investments, added, “We are grateful for our partnership with GTIS and look forward to continuing to do our data-driven methodology as we seek new acquisition opportunities.”
At San Palmas, which was bought in February 2018, the partnership invested nearly $4 million into improvements in the community’s common areas, amenities, and unit upgrades for over half of the units. San Palmas, built in 1998, benefits from one of the strongest locations in Phoenix near the Chandler Fashion Center, within walking distance to Whole Foods, and with over 640,000 jobs within 10 miles of the property.
The partnership bought Canyon Reserve in August 2017 and invested nearly $2 million in common area and unit interior renovations in nearly one-third of the units at the property, which was built in 1984. Westminster is a highly sought-after suburb in the Denver metro area due to its proximity to major employment hubs such as Interlocken Business Park and Downtown Denver. The property also benefits from simple access to retail and entertainment options including Thorncreek Crossing, Orchard Town Center, and Flatiron Crossing.
Theodore Karatz, Managing Director at GTIS said, “The sale of the two multi-family assets were well timed and resulted in strong, risk-adjusted returns for our investor-partners. These transactions represent the types of opportunities pursued by GTIS – in markets with strong fundamentals where we are able to work alongside leading operators such as CRA, a firm that has proved to be a fantastic partner to us.”
David Pahl, Managing Director at GTIS, added: “CRA did a tremendous job on the “value-add” piece, delivering the renovations on time and on budget, allowing us to sell the assets earlier than originally plotted. Our investments into these communities will provide significant, tangible benefits to residents for years to come, and we are incredibly proud of the work our teams have done.”

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