MIAMI, Fl – Prestige Companies broke ground on The Trail, a new apartment community that will feature the first part of the Miami-Dade County’s 5.6-mile long Ludlam Trail. Phase one of the master project will deliver 84 units on over 2 acres of land at the northwest corner of Southwest 12th Street and Southwest 70th Avenue, just south of Miami International Airport. Phase two, which incorporates a retail component and 200 additional units, will follow along in the coming months.
“We are excited to be part of this fantastic transformation. The formerly dilapidated mobile home project will soon be a modern walking and biking community in one of the county’s most transcendent projects” says Alexander Ruiz, COO of Prestige Companies. The Trail will be a multifamily, garden-style, workforce housing community with a mix of stylish 1 and 2-bedroom apartments. While the community will be fully compliant with parking, Prestige Companies believes the walkability and bike-ability will be a fantastic appeal for a younger generation who prefers to spend less time in their car.
The Ludlam Trail is a new shared-use trail that will include safe, dedicated, direct pathways for walking, running, and cycling in order to encourage active lifestyles and enhance connectivity between schools, parks, transit stops, workplaces and shopping. “As one of our flagship developments, this project brings a fantastic amount of energy and momentum to complement the Ludlam Trail’s vision,” comments Dennis Rodriguez, a partner at Prestige Companies. Ludlam Trail runs from SW 80th street up to NW 7th street and will connect with the Underline, a grand pedestrian pathway which will run 10 miles in total from Brickell to Dadeland.

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ALAMEDA, CA – The Housing Authority of the City of Alameda (AHA) is breaking ground on a re-development project at Rosefield Village. AHA has owned Rosefield Village since 1956 and will oversee all aspects of the re-development. When construction is completed in mid-2022, the site density will have increased from 53 units to 92 units.
Located at 727 Buena Vista Ave., with convenient access to services and public transportation, Rosefield Village, is a mixed income family housing development that offers affordable housing options for Alameda’s low-income residents. In addition, Alameda Unified School District (AUSD) employees who earn 20% to 80% of the area’s median income will be eligible to apply to live in the apartments.
“By increasing site density at Rosefield Village, the Housing Authority can continue its mission of providing affordable housing options for Alameda’s low-income residents and the synergy with AUSD makes this project even more impactful for Alamedans.” stated Vanessa Cooper AHA Executive Director.
City of Alameda Mayor Marilyn Ezzy Ashcraft and Alameda County Supervisor Wilma Chan celebrated (virtually) the groundbreaking of Rosefield Village.
Funding sources for Rosefield Village include the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee, the City of Alameda HOME and CDBG Program, the County of Alameda A1 Bond Funds, a Bank of America construction loan, a Freddie Mac permanent mortgage services by Greystone Servicing Company, former redevelopment funds through the Alameda Unified School District, Housing Authority of the City of Alamedaloan funds, general partner equity investment from Island City Development, and limited partner equity investment from Enterprise Housing Credit Investments LLC. The General Contractor is JH Fitzmaurice Inc.

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HOUSTON, TX – Canyon Partners Real Estate announced the acquisition of a $45 million preferred equity position in Drewery Place, a newly-built multifamily tower in Houston, Texas.
The Class-A apartment building is comprised of 357 residential units and 11,000 square feet of prime retail space. The project was developed in 2019 by Australian lifestyle developer Caydon Property Group. The transaction, which closed in February 2021, was facilitated by JLL Capital Markets.
Drewery Place is conveniently located in Midtown and is directly across from McGowen Station on METRORail’s Red Line, which provides direct service to Downtown Houston and Texas Medical Center. The Property boasts 360-degree views of Downtown Houston and the surrounding city as well as luxury finishes and sought-after amenities, including a resort-style pool with swim-up bar, fitness center, pet park, sky lounge, and coworking spaces.
Drewery Place was the Multifamily winner of the Houston Business Journal’s 2020 Landmark Awards which recognizes outstanding real estate projects in Houston.
This acquisition brings Canyon’s real estate portfolio to approximately $6.1 billion of project capitalization.
Canyon Partners Real Estate is the real estate direct investing arm of Canyon Partners, a global alternative asset manager with over $26 billion in assets under management. Over the last ten years, Canyon has invested more than $5.5 billion of debt and equity capital across approximately 200 transactions.

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