JACKSONVILLE, FL – Sentinel Real Estate Corporation announced the acquisition of Bainbridge Town Center East, a 276-unit multifamily property in Jacksonville, Florida. Completed just last year, the property offers luxury multifamily living in the highly sought-after Southside submarket, which provides direct access to beaches and Downtown Jacksonville. As part of the acquisition, Sentinel will rebrand the property to Drift at Town Center East.
We recognized the opportunity to buy a newly built, stabilized multifamily property in a high-growth market that is supported by brilliant long-term fundamentals, said Michael Streicker, President of Sentinel. Drift at Town Center East is located in a highly desirable but severely supply-constrained market, with only one other multifamily community expected to be delivered within three miles of the property over the next two years. This, combined with its optimal location and attractive amenities, presents qualities that we believe will continue to make the property a desirable option for area residents.
Drift at Town Center East is located in the heart of Southside, which is one of Jacksonville s more affluent submarkets and features a high-quality school system. The property provides ease of access to employment centers such as the 18 million-square-foot Deerwood Office Park, which hosts more than 200,000 workers and major tenants including Bank of America, Johnson & Johnson, Florida Blue and JPMorgan Chase. One mile away is St. Johns Town Center, a 2.5 million-square-foot open-air shopping center with more than 175 stores and a variety of restaurants and entertainment venues.
Apartments at Drift at Town Center East range from one to three bedrooms and feature wood-style flooring in kitchens and living rooms; modern kitchens with designer white cabinetry, ceramic tile backsplashes, quartz countertops and stainless steel appliances; washers and dryers; walk-in closets; private balconies or patios; and touchscreen smart thermostats. Community amenities include a saltwater pool with sundeck and cabanas; a poolside lounge area with a dining pavilion, grills and a fire pit; a hammock grove; a 24-hour fitness center; a yoga studio and private training room; a community lounge with a cyber café; a game room with shuffleboard and billiards; an outdoor clubroom with a fireplace and pool views; a dog park; an exercise trail; and a lakeside overlook with grills and a seating area.
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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GREENSBORO, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, has bought CityLine Park, a newly developed 435-unit apartment community located in the Dallas suburb of Richardson, Texas. The property, bought on behalf of the firm’s Fund VII investors, will be renamed Bell CityLine and marks the 23rd community owned or managed by Bell Partners in Texas.
Located in the CityLine mixed-use development, Bell CityLine is located near major Dallas-area employers including State Farm and Raytheon, as well as in close proximity to ample dining, retail and recreation options. Bell CityLine is situated near the intersection of U.S. Route 75 and the President George Bush Tollway, connecting residents to all points of the Dallas-Fort Worth Metroplex, including the Dallas Urban Core. The community is within walking distance to the CityLine Bush DART Station, offering residents direct access to destinations such as DFW International Airport and Downtown Dallas.
Richardson has attracted several technology and telecommunications businesses to the area, establishing the “Telecom Corridor” along which Bell CityLine is located. The city has rezoned nearly 1,200 acres to attract additional technology firms to the area, making new job opportunities and continued demand for housing.
Bell Partners’ acquisition of Bell CityLine reflects the firm’s ongoing expansion in targeted growth markets. Including Bell CityLine, Bell Partners owns or manages 44 properties across its central and western markets, including Dallas, Austin, Nashville, Denver, Seattle, Los Angeles and the Bay Area.
“The acquisition of Bell CityLine reflects our conviction in the favorable economic and rental housing market fundamentals in Dallas, and expectation of relatively stable performance of this investment given its high quality location and product,” says Nickolay Bochilo, EVP of Investments at Bell Partners.
The property, built in 2019, has an array of modern amenities including a clubhouse with a coffee bar, a fitness studio and a resort style swimming pool with a tanning ledge.

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HOUSTON, TX – Civitas Capital Group, a Dallas-based global alternative investment manager offering niche opportunities in U.S. real estate, has bought Territory at Greenhouse, a 288-unit, 13-building, garden-style luxury apartment complex in West Houston.
“We are extremely pleased to buy such an incredible project at below replacement cost and 98% leased despite the challenges presented by the COVID-19 pandemic,” says Rootvik Patel, Investments Director for Civitas, who led the transaction along with colleague Chandler Kyser. “The Greater West Houston area is a dynamic market with sustained population and income growth above the Houston MSA’s average. We are glad to become a part of this thriving community through the acquisition.”
Located between West Houston’s Energy Corridor and Katy, the property, developed in 2020, is within a 20-minute drive from either downtown Houston or Sugar Land, one of America’s best suburbs. It is easily accessible by Interstate 10, Beltway 8, and Grand Parkway. Nearby demand drivers include Wood Group, BP America, Shell Oil Company, ConocoPhillips, Gulf States Toyota, PCL Industrial Construction Co., Citgo, Memorial Hermann Health System, Chase Bank, Houston Methodist West Hospital, Katy Mills Mall, Cullen Park, and A+ rated Katy ISD schools.
Since 2015, Civitas has invested over $157 million in the Houston market across asset types, including multifamily, hotel, and senior living facilities.
Territory at Greenhouse, which closed July 28, is the third multifamily property Civitas bought in the past 30 days. On July 8, Civitas bought The Atlantic at Kessler Park, a 64-unit property in an exclusive, burgeoning area of southwest Dallas. On June 29, the firm bought Center Place Apartments, a 194-unit property in a growing North Texas suburb situated between Dallas and Fort Worth. Both are value-add multifamily properties.
“Center Place and Territory represent the next evolution of our multifamily value-add acquisition strategy,” says Jonathan Kern, President and Chief Investment Officer at Civitas. “All three of these investments are indicative of our focus on attainable housing, which is in increasingly small supply. Whether you’re talking about acquisitions like these or new developments, this is especially right in the DFW and Houston MSAs, two of the fastest-growing in the country.”

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