PHILADELPHIA, PA – Sentinel Real Estate Corporation announced the acquisition of Hill House Apartments, a 188-unit multifamily property in Chestnut Hill, a desirable suburb of Philadelphia. As one of very few apartment communities in Chestnut Hill, Hill House Apartments provides luxury multifamily living in a highly sought-after neighborhood where rents present a significant value as compared to Downtown Philadelphia.
In Hill House Apartments, we are acquiring a well-repositioned asset where we can leverage strategic capital improvements to make additional value, said Michael Streicker, President of Sentinel. The neighborhood s high barriers to entry make it hard to build – fascinatingly, only 700 units have been delivered within a three-mile radius of the property since 1991. With no new supply plotted in the market for the foreseeable future, an average household income of $158,000, and a submarket vacancy rate of 4.2 percent, there are numerous factors that we expect will continue to make this property and location attractive.
Located in the heart of historic Chestnut Hill – which is known as Philadelphia s garden district and was named by Forbes as one of the top seven urban enclaves in the United States – Hill House provides amenity-rich living with skyline views of the city across a range of floorplans, from studios to three-bedroom, three-bathroom apartments. Each unit features luxury finishes such as quartz countertops, stainless steel appliances, hardwood floors and spacious closets. Community amenities include a 24-hour doorman, a fitness center, a resort-style pool, an outdoor patio living space, and a resident lounge with complimentary Starbucks on tap.
The previous ownership has executed an extensive capital improvement program, which comprised upgrades to interior units and building systems, as well as improvements to common spaces including the lobby, leasing office, common hallways, outdoor amenities and landscaping. Sentinel has the opportunity to realize additional value creation by renovating the remaining interior units over time.
Over its 51-year history, Sentinel has bought a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

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BUCKEYE, AZ – Link Senior Development and MedCore Partners are engaged in the development of Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master plotted community in Buckeye, Arizona. The 1,100-home Sundance master plotted community is fully built out, boasting an 18-hole public golf course, community center, and more than 20 different clubs from which homeowners can become members, and the City of Buckeye was recently named the fastest growing small city in the United States.
The senior living campus will offer 103 independent living, 75 helped living, and 24 memory care residences. The community will be set on a 10-acre tract on the northwest corner or Yuma Road and Sundance Parkway, immediately adjacent to the Sundance Adult Village HOA Community Center. Construction on the 211,000 square foot, three tale project is expected to start in late 2021 for an anticipated opening in the Summer of 2023.
“We are very pleased to bring this dynamic senior living community to Buckeye,” said Michael Graham, Partner at MedCore. “For too long, seniors in Buckeye have been forced to relocate to other areas around Phoenix for their seniors housing needs, but soon they will be able to delight in first class senior living locally at the Ativo of Sundance without having to leave their friends and familiar amenities behind.”
“The latest census numbers highlighting Buckeye’s unprecedented growth reaffirm this market as a choice senior living destination in the Phoenix metro area,” said Ron Ziebart, CEO of Link Senior Development. “We’re proud to be located in Sundance and we know Ativo will bring meaningful impact for years to come.”
Amenities at Ativo will include a grand entry with two-tale dining room, private dining for special events, billiards room, two salons, theater room, chef’s kitchen with demonstration bar, cyber-café, and top-of-market outdoor spaces including a resort-style swimming pool, shuffleboard, bocce and pickleball courts, multi-hole mini golf, art studio, pet park, fitness center, and outdoor grill/fire pit areas.
Insight Senior Living will manage the community, including oversight of all programs and resident services. This will be Insight’s third senior living project in Arizona. Ankrom Moison Architects designed the facility.
Link and MedCore are collaborating on two other developments in Albuquerque, New Mexico and Tracy, California. The two firms previously worked together on the 2019 sale and acquisition of five senior living communities in Arizona and Utah.

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HOUSTON, TX – The Life at Grand Oaks, a 556-unit affordable rental community located in Houston s Greater Inwood neighborhood, will both add to and preserve critical affordable housing units for families in Northwest Houston.
As a local owner and operator of over 3,900 units in the Houston MSA, Olive Tree, and its The Woodlands-based affiliated property management organization, The Life Properties, bring significant expertise and experience within owning and operating affordable housing properties within and around the City of Houston to The Life at Grand Oaks.
The Property will undergo a $23M substantial rehabilitation, beginning in September 2021, including a comprehensive sustainable retrofit of its plumbing, electric and HVAC systems, to position it as safe, high-quality affordable housing for years to come.
The $85M redevelopment project was made possible through the support of Olive Tree s financing and development partners. The financing includes a taxable construction loan provided by JP Morgan Chase, an unfunded Fannie Mae MTEB loan serviced by JP Morgan Chase, and an equity investment in 4% low-income housing tax credits by Affordable Housing Partners.
Olive Tree want to thank the Texas Department of Housing and Community Affairs for its determination of 4% Low-Income Housing Tax Credits and the Houston Housing Finance Corporation for its allocation of tax-exempt bonds. Olive Tree would also like to thank the City of Houston and the Near Northwest Management District for their support of the project, its design and construction partners BASIS Architecture and Consulting and Pavilion Construction, and the many other stakeholders who played a role in bringing the project to fruition.
In addition to The Life at Grand Oaks, Olive Tree Affordable Housing Development closed The Life at Parkview in May 2021, a HUD-insured substantial rehabilitation located in Pasadena, TX. In total, the firm has financed the substantial rehabilitation and preservation of 865 affordable housing units, over $125M in development costs, in the Houston-metro in 2021. The firm s pipeline within the Houston-metro for the remainder of 2021 includes the preservation of an additional 312-units and $59M in development costs.
Both projects demonstrate the value our adaptive approach to affordable housing preservation makes and we are pleased to be afforded opportunities such as these to provide solutions for the long-term preservation of affordable housing to our Partners, says Brennan Sanders, Vice President of Affordable Housing Development at Olive Tree.

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