SALT LAKE CITY, UT – RealSource Properties, Inc., a leading real estate investment and management firm with nearly $1 billion in commercial multifamily acquisition history, announced the launch of its Real Estate Investment Trust (REIT). For the first time since commencing its investment and management platform two decades ago, the Salt Lake City-based company is now extending an opportunity to accredited investors to join with RealSource in a portfolio of multifamily assets.
“We believe there may be no better time for RealSource to launch a multifamily investment vehicle than now due to the favorable fundamentals being experienced in specific markets across the United States. When we apply our local real estate cycle econometrics and knowledge to ascertain which markets are quickly recovering from the pandemic, it is clear to see that demand for apartments is rising, said Nate Hanks, CCIM, CEO of RealSource Properties. This multifamily-focused REIT will open up our company s track record in value creation to non-institutional investors looking for ways to diversify their portfolio with cash flowing real estate.
The $390-million RealSource Properties REIT targets multifamily properties, with ten properties already owned with more in the pipeline. Utilizing the firm s vertically integrated business model, assets in the REIT will be managed by the same value-add real estate strategy currently deployed at RealSource multifamily assets nationwide. RealSource s in-house team of economists, researchers, and acquisition specialists source viable investments; then, its team of asset management professionals manage and operate the assets identified for the acquisition.
Commercial real estate investments have emerged as a solution for investors looking for portfolio alternatives, and REIT-structured investments like the one offered by RealSource have historically provided investors with risk mitigation, potential attractive and sustainable yields, competitive market performance, streamlined investment management, and potential significant tax advantages. Additionally, investors will have full transparency into the operation and performance of each asset in the REIT.
The ten properties already owned by the RealSource Properties REIT include 2,897 apartment units in Ohio, Texas, North Carolina, and Colorado. The acquisition process for these properties relied on an econometric model that evaluates nearly 40 different market sub-categories, factoring such things as market, migration, income, social indicators, state GDP and tax rates, growth, and more. The development of this unique set of parameters over time allows for in-depth comparison over broad periods and markets, submarkets, and regions.
Hanks clarified, In 2022, we anticipate continued strength for the rental product since demand outweighs supply. To be sure, the pandemic caused dramatic demographic shifts, which pose some lesser-known threats that are beginning to evolve in the industry. Yet we believe there are opportunities to trade in and out MSA’s when savvy investors bring the right business model and do it correctly. Timing the local real estate cycle correctly can make higher returns in times of larger upward swings in what is often called the absorption cycle.
In addition to deep market research, each asset bought by the REIT is evaluated to align with its value-add strategy. The REIT looks to source assets bought at meaningful discount to replacement cost – and assets that are determined to benefit from operational efficiencies and improvements through asset management initiatives, property improvement plans, and a series of other contributing variables. For RealSource Properties investors, the REIT s structure allows the potential for accretive improvements of its value-add strategy results to enhance performance in the long term, as compared to individual property performance.
Hanks concludes, The axiom, everyone needs a place to live, has never rung truer than during the pandemic. Effectively located apartment homes in booming U.S. metros can be more undervalued than many deep inside the real estate industry realize. Rising costs of living, coupled with rising replacement costs to build new housing, have resulted in a giant macro increase to multifamily values in most markets at the close of 2021. An vital market cycle has surfaced: rising single-family prices are causing more people to rent for longer, affecting demand for already near-full apartment inventory. Consequentially, multifamily vacancies in many metros are near all-time low levels and naturally pushing rent rates upward in many of the largest 50 metros.

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SAN DIEGO, CA – MG Properties, a private San Diego-based real estate investor, owner, and operator is further expanding their presence in the Orange County, CA with the acquisition of The Herald Apartments.
Built in 2021, this 215-unit community is a rare opportunity to buy a “class A” asset in Placentia. The strong demographics of the surrounding area make The Herald’s exceptional amenity package and high-quality finishes well suited to the market.
Jeff Gleiberman, MG Properties’ Managing Director, said “The Herald is ideal addition to our Southern California portfolio. We believe Orange County has strong fundamentals and is positioned well for growth in the near term.”
The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathan Merhut of Eastdil Secured. The property was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured.

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PETERSBURG, FL – Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, announced that Bay area high-rise Ascent St. Pete celebrated its topping off on April 29. Rising higher than any other rental community in the Tampa Bay region, Ascent St. Pete provides residents incredible, 360-degree views of Tampa Bay as well as the Gulf of Mexico. The project will feature outdoor pool amenities at both the sixth and 36th floors.
“Located in the heart of St. Petersburg, Ascent will provide an unparalleled rental housing experience in the Tampa Bay region,” David King, Senior Director of Development, said. “It has a creative and eccentric interior that complements its modern exterior, which is emphasized by expansive glass balconies at nearly every unit. Overall, Ascent connects with St. Pete’s vibrant energy and makes an environment where residents can feel like they vacation where they live.”
The podium-style high-rise will reach 36 tales with 357 units that feature floorplans that include studios, one-, two- and three-bedrooms as well as penthouse units with elevated finishes and access to dedicated penthouse amenities. Ascent St. Pete boasts a 94 percent walkability score.
Partnering with AC by Marriott, the mixed used project includes a 172-key hotel which will allow Ascent St. Pete to augment the resident experience with shared outdoor amenities and services. The hotel will also feature a separately branded restaurant on the eighth floor with an outdoor terrace and bar.
The high-rise also contains more than 6,800 sq. ft. of ground-level retail space along First Ave. and 2nd Street North.
Ascent St. Pete is scheduled to open in January 2023 with final construction completion slated for May 2023.

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