CHATTANOOGA, TN – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 190-unit 5 Points Northshore Apartments in Chattanooga, Tennessee. The Kirkland Company represented the seller on this transaction. This represents HZ’s eighth acquisition in Tennessee.
The property, built in 2019, is located just north of Downtown Chattanooga, which is situated at the bend in the Tennessee River at the Juncture of Tennessee, Georgia, and Alabama.
“5 Points Northshore presented a fantastic opportunity to buy a Class A asset in Chattanooga, Tennessee” said David Nelson, Hamilton Zanze’s chief transactions officer. “The property features a top-of-the-line amenity package, a prime location within walking distance to many attractions, and offers residents the quality of life provided by the city’s energetic core. As this is our second acquisition in Chattanooga, we’re very excited to continue to watch the region’s growth.”
The community is located at 328 Cherokee Blvd in the desirable North Chattanooga submarket, approximately 5-minute drive or 2.5 miles from Downtown Chattanooga. The 190 residential units average 826 square feet with 37 different floor plans. Community amenities include an outdoor lounge and kitchen, resort-style pool, pet spa and park and a clubroom with billiards tables and TVs. Unit amenities include gourmet kitchens, in-unit washers and dryers, private balconies and patios, walk-in closets, and tile bathrooms.
HZ’s capital improvements will include site improvements, building repairs, amenity enhancements, and mechanical, electrical, and plumbing updates. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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CAMARILLO, CA – MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California, announced their acquisition of Andorra Apartments in Camarillo, California. The 450-unit community brings 2021 to a close with over $1.9 billion in total acquisitions.
“We are thrilled to be further scaling our Southern California portfolio,” said Mark Gleiberman, Founder & CEO of MG Properties Group. “Andorra is an ideal fit for our long-term oriented private capital investor base.
With proximity to both Los Angeles and Santa Barbara, Camarillo is a uniquely situated arterial hub combining a high-quality suburban living environment with access to multiple job centers. Its well-executed design offers a perfect blend of rustic California style with modern refinement.
The buyer was represented by Joseph Smolen, Mark Peterson and Geoff Boler of Eastdil Secured. The acquisition of the community was financed with a loan from Nuveen Real Estate and arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
Andorra marks the 19th acquisition in what has been a benchmark year for the company – totaling over $1.9 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, and Colorado.

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TAMPA, FL – ECI Group and K.D. Keller Development have closed on a two-acre site in Tampa’s vibrant Channel District in Tampa, FL, with plans to start construction in January 2022 on Parc Madison, a 351-unit, eight-tale Class A apartment community with 6,571 square feet of ground floor retail. The project equity was funded through a joint venture of ECI, Tampa-based K.D. Keller Development, and Scottsdale, AZ-based Kandle Investments, with construction financing provided by Wells Fargo Bank, N.A. Construction is expected to be completed in the third quarter of 2023.
Parc Madison will be located at the east end of the downtown Tampa block bounded by E. Twiggs Street, E. Madison Street, and Channelside Drive, adjacent to the new City of Tampa Madison Street Park. Constructed using efficient tunnel form concrete technology, the building will have a parking deck, skyline views from upper floors, an expansive rooftop pool and gym. The 6,571 square feet of ground floor retail is targeted towards a restaurant and/or coffee shop user.
“The ECI team is excited to be underway with the Parc Madison, destined to be a signature property in downtown Tampa, featuring sleek, modern architecture and sunlit, spacious apartments,” said James Baugnon, President and CIO at ECI. “We are proud to continue to contribute to the rapid growth of the Channel District, bringing in more residents to delight in the new retailers, grocery stores, restaurants and gathering places.” In December, ECI announced the sale of the Channel Club, a 22-tale high rise apartment community developed by ECI Group and K.D. Keller Development on the same block as Parc Madison, for $136 million.
Chip Sykes and Drew Jennewein of Jones Lang LaSalle Capital Markets helped in the formation of the project joint venture.

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