LAS VEGAS, NV – MG Properties, a private San Diego-based real estate investor, owner, and operator has bought the 275-unit Verona Apartments in Henderson. MG Properties owns five other properties in the Las Vegas submarket.
Las Vegas’ desirable Henderson submarket is one of the fastest growing cities in the country due to its job growth, award-winning master-plotted communities, strong school system and amenities. Relative affordability of Las Vegas when compared to coastal metros has led to expansion by top employers, and the location of Verona Apartments benefits from brilliant accessibility to multiple major throughways that connect residents to major job centers throughout the metro.
“Las Vegas continues to be a major beneficiary of the economic recovery, with strong population and employment growth,” said Jeff Gleiberman, Managing Director of MG Properties. “we are pleased to add Verona to our regional portfolio and continue to be optimistic about the future prospects for the Las Vegas market.”
MG Properties has bought 11 communities in 2022 so far, totaling over 2,800 units exceeding $990 million in combined value. The company is targeting further acquisitions in Washington, Texas, Oregon, Arizona, California, Colorado, and Nevada.
Seller was represented by Taylor Sims of Cushman and Wakefield. Financing was provided by Brooks Benjamin and Corina Lam from Key Bank Real Estate Capital.

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BIRMINGHAM, AL – Global residential manager Common and celebrated local plotting and development firm Orchestra Partners started leasing the residential units in the historic Downtown building, The Frank. After being selected by Orchestra Partners to manage the building earlier this year, Common will bring its signature offering of desirable and attainable housing to the hyper-growth Birmingham market.
This 180-unit building marks the first project between the two groups and solidifies their commitment to bringing high-quality housing to Birmingham, Alabama. Applications are now available for a fall 2022 go-in, with rent starting at $802.
Orchestra Partners is a plotting and redevelopment advisory firm based in Birmingham, Ala., focused on transforming the urban experience. Their work in Birmingham includes several adaptive reuse projects, including The Frank Nelson Building.
Once one of the first skyscrapers in Birmingham, this 120,000 square-foot building was originally built to be the First National Bank Building in 1903. Now, Common at the Frank will act as a vital part of downtown with amenities that serve the entire Birmingham community. With an onsite restaurant, tenant lounge, roof deck, and a two-tale outdoor terrace open to the public, The Frank will function as a hub for connection and activity.
“We’re very excited to start our partnership with Common and start leasing at The Frank,” said Orchestra Partners Development Manager, Caroline Jenkins. “This building has been a part of Birmingham’s history for more than 100 years, and we’re so pleased to breathe new life and activity into it.”
Common at the Frank will feature 180 units of both studio and one-bedroom apartments across 10 tales.
Birmingham is a quick-growing rental market with a high net migration rate of young professionals, fueled completely by new arrivals and renters in the Sunbelt. With 50% of current portfolio residents moving to a new city, Common is expertly positioned to leverage its national brand presence to attract prospective renters in the area and beyond. Proving its commitment to the city and surrounding community, Common is expected to open over 400 residential apartments total in Birmingham by the end of the year.
“As our brand continues to grow across the world, Common is seeing first-hand how dynamic cities like Birmingham become sought-after destinations for the next generation to find attainable housing,” Common Founder and CEO Brad Hargreaves said. “I’m so thrilled to work with Orchestra Partners to bring this incredible adaptive reuse project to life and help promote their mission in Alabama. This is only the beginning for Common in Birmingham, and we’re looking forward to contributing to the future of this city.”

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SCOTTSDALE, AZ – The Multifamily Innovation® Advisory Council announced today its formal launch with approximately 1.5 million apartment units being represented. The council is on track to grow to north of 3 million units by end of year, with a focus of being the catalyst for innovation, through delivering insight to leaders across the industry.
The Multifamily Innovation® Advisory Council is led by Chairman Patrick Antrim, Founder and CEO of Multifamily Leadership, a media and events platform providing streaming content around technology, innovation, leadership, and investing. Antrim is an industry professional and producer of the highest-level events in the multifamily apartment industry, through their podcast network, conferences, and annual summits.
Serving as Chair of Technology Initiatives for the Multifamily Innovation® Advisory Council is technologist Kerry W. Kirby, Founder and CEO of 365 Connect®, a leading provider of automated marketing, leasing, and engagement platforms for the multifamily housing industry. Kirby is an accomplished entrepreneur, innovator, and industry influencer. He holds 95 technology awards, has presented in over 150 webcast reaching over one-million listeners from around the world, and is changing the way we reckon about the convergence of technology in the rental housing market.
Antrim and Kirby have built their careers collaborating with leaders in the multifamily space, and have been extracting the perspectives from investors, developers, and operators or more than 20 years. They have been meeting in individual and small group gatherings over that past two years to discuss a variety of topics, from shifting consumer expectations, reimagining the role of our workforce, and analyzing the way next-generation renters can be accommodated.
Daryl Smith, Chief Marketing Officer for Kettler stated, The Multifamily Innovation® Council is a diverse group of intra-disciplinary professionals obsessed with a vision for innovation that will inspire the next generation of multifamily operations and leaders. I am extremely excited to participate, the discussions are timely and strategic, while inspiring me to imagine the calculus of innovation and its impact on our consumers and operations.
Members of the Multifamily Innovation® Advisory Council gain access to a diverse group of high-level multifamily owners and operators, where thoughts are exchanged about deploying and using different types of technology, without investing valuable resources into a venture capital fund. Working together to identify opportunities and navigate obstacles, members openly share their experience in finding solutions that are the proper fit for their operations.
Mike Brewer, Chief Operating Officer at RADCO Residential added, “The Multifamily Innovation® Council allows me to see the signal in the noise. Gone are the days when I must sit through endless sales pitches without understanding which technologies truly meet the needs of my business. The council takes the hard work out of making informed business decisions.”
The private invitation only group of council members attend weekly meetings to openly discuss real-world experiences related to utilizing technology across their communities. The members are void of any vendor influences and sales pitches to allow them to freely reckon through challenges they had or are having in deploying technology, as well as finding quality solutions for their operations. Council members also meet in-person annually at the Multifamily Innovation® Summit to join panel discussions, as well as celebrate the Best Places to Work Multifamily®.
Kim Boland, Director of Digital Marketing at Morgan Properties stated, The Multifamily Innovation® Council allows me to not feel alone when evaluating and implementing new programs. They help me realize that other people are having similar experiences. Listening to feedback from other operators and seeing how they have plotted, tackled, and succeeded in rolling out technology programs allows me to know that challenges are normal, and success is possible.
Membership to the Multifamily Innovation® Council is by application only. Those applying must be with a firm that owns or manages a minimum of 1,500 apartment units. To learn about membership opportunities, visit MultifamilyInnovation.com

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