GRAND PRAIRIE, TX – FCP and VaultCap Partners have bought Corey Place Apartments, a 275-unit garden apartment community in Grand Prairie, TX. The transaction marks the first joint venture for FCP and VaultCap.
“FCP is excited to partner with Mark and Ryan and the VaultCap team on Corey Place, our first investment in Grand Prairie and an asset with fantastic potential for value creation,” said FCP’s Cole Kellogg. The venture intends to make significant capital improvements to the property, including the addition of an amenity package to include a pool, splash pad, turf soccer field and outdoor kitchen as well as common area renovations and sustainability improvements.
“VaultCap is looking forward to partnering with FCP and executing a business plot that will improve the quality of life for the residents at Corey Place” said VaultCap’s Mark Christ.
Located at 602 West Pioneer Parkway in Grand Prairie, Corey Place offers residents one, two and three-bedroom apartments with convenient access to 161, 360, I-20 and I-30 and an abundance of job centers, amenities and entertainment venues in nearby Fort Worth and Dallas.
FCP and VaultCap extend their appreciation to Northmarq, who represented the seller and helped sourced debt and equity for the transaction.
FCP is a privately held real estate investment company that has invested in or financed more than $8.6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties.

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TOLEDO, OH – Welltower announced the expansion of its relationship with Oakmont Management Group. Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont’s existing portfolio by the end of the third quarter in affluent markets across California.
Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate Class A communities to serve the seniors housing resident of the future, with a focus on highly specialized programming and resident health and wellness. Oakmont and Welltower expect to grow the partnership’s footprint significantly over the next decade. The partnership will leverage Welltower’s data analytics platform and innovative access to health and wellness partners and Oakmont’s best in class operating platform. Additionally, the two companies have agreed to a strongly aligned RIDEA 3.0 management contract.
In a recently completed transaction, Oakmont and Welltower bought Ivy Park at Otay Ranch, an helped living and memory care community in San Diego, California. Ivy Park is the first of Oakmont’s new brand, Ivy Living, which builds upon decades of operational excellence providing Oakmont the flexibility to pursue opportunities that have a different built environment.
“Oakmont Management Group is thrilled to be in this long-term partnership with Welltower and we firmly believe that our operating acumen combined with Welltower’s significant edge in data analytics will make a formidable team,” said Courtney Siegel, Oakmont President and CEO. “Welltower is a partner of choice in the seniors housing sector and we look forward to expanding our relationship in the years to come.”
“We are delighted to announce the expansion of our partnership with Courtney and the Oakmont Management Group team through this exclusive agreement,” said Shankh Mitra, Welltower’s CEO and CIO. “Oakmont is one of Welltower’s strongest performing operating partners. Courtney and her team are not only best in class operators but are also right partners. I could not be more excited to significantly grow our relationship through acquisition and development in California and other western states over the next decade.”

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WASHINGTON, DC – CIM Group announced that it has bought The Vale at The Parks, a newly constructed mixed-use development in Washington, D.C. consisting of 301 apartment residences, 18,269 square feet of ground floor commercial space and 316 parking stalls.
Located at 6800 Georgia Ave. NW, The Vale will be the first new construction multifamily rental building at The Parks at Walter Reed ( The Parks ), a 66-acre master-plotted, mixed-use redevelopment of the former Walter Reed Army Medical Center. The Vale was developed by a joint venture of Hines, Urban Atlantic, and Triden Development, the same team responsible for the redevelopment of The Parks.
The Vale brings new residences to a vital metropolitan area served by public transportation and close to business centers and services, attributes that align with CIM Group s community focus, said Shaul Kuba, Co-Founder and Principal of CIM Group. In addition, The Vale is well-located in a mixed-use, historic redevelopment that is designed to make a walkable environment, with abundant outdoor community spaces and a variety of new commercial uses which we believe is an appealing environment that will be attractive to residents.
The Vale offers a mix of studio, one-, two-, and three-bedroom apartments. Residents will have access to an array of amenities including a fitness center, indoor/outdoor yoga studio, a club room, secure bike parking, a courtyard with cabanas, and a saltwater pool. Primrose Schools, an accredited early education and childcare center, has leased 16,576 square feet of commercial space at The Vale.
At full build-out, The Parks will feature approximately 3.1 million square feet of new construction, including a plotted 190,000 square feet of retail, 325,000 square feet of office, medical, and educational uses, 20,000 square feet of creative and cultural uses, and a hotel/conference center. Residential options will include more than 2,200 distinctive condominiums, townhomes, and apartments. The master plot contains 20 acres of open space. Campus neighbors include Children s National Health System, which is making a pediatric research and innovation campus, and the U.S. Department of State s Foreign Mission Center development, an international community of consulates from 10 to 18 countries.
Located adjacent to Rock Creek Park, in D.C. s Shepard Park neighborhood, The Parks is five blocks from the Takoma Red Line Metro Station, and a small drive from regional job centers, providing simple access to Silver Spring, Downtown D.C., Bethesda, and the Baltimore metropolitan region.
CIM has been an active owner, developer, and operator in the greater Washington, D.C. area for more than 15 years, and has developed or operated more than 5,400 residential units in the greater Washington, D.C. area, as well as office and hotel properties. Since its founding in 1994, CIM has made a commitment to enhance its properties by increasing sustainability, efficiency, and quality for tenants, residents, and visitors as well as enhancing the character and value of the communities.

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