HOMEWOOD, AL – Balfour Beatty Communities, a national residential real estate investment and management company, recently bought an ownership stake in Moretti, a 135-unit apartment community located just outside of Birmingham in the upscale suburb of Homewood, AL.
Moretti offers one-, two- and three-bedroom units featuring open concept living and upscale kitchens. The property s amenities include a saltwater pool, outdoor lounge and fire pit, fitness center and clubhouse.
This acquisition aligns with our approach of investing in quality housing with access to jobs and an employment base that are in high demand, said Mike Price, SVP of Acquisitions for Balfour Beatty Communities. Our attention to operational detail combined with targeted renovations and added amenities will position this asset to deliver an exceptional living experience to residents.
Balfour Beatty Communities joins co-owner ApexOne Investment Partners who bought the property in May 2020. Balfour Beatty Communities has been providing property management services to the community since that time and will continue in that capacity.
Moretti has significant value-add potential and there are a numbers of premium renovations already underway, including enhancements to the pool area and landscaping. Future plans include fitness center upgrades, renovations to the clubhouse/community management office, a new dog park, and installation of smart home technology.

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DENVER, CO – Embrey, a Texas-based diversified real estate investment company with a national portfolio, has sold its Gateway Arvada Ridge multifamily property in the Arvada submarket of the Denver MSA, Garret Karam, Chief Investment Officer for Embrey, announced.
The property was bought by The Praedium Group, a New York-based national real estate investment firm. Embrey Management Services has been retained to manage the property.
“This is a signature Embrey property in a highly desirable area that features luxury unit finishes such as quartz countertops, stainless steel appliances, large kitchen islands, walk-in closets, floor-to-ceiling windows and an expansive set of amenities for residents,” Jimmy McCloskey, Executive Vice President of Development, said.
The convenient community setting provides residents with a resort-style pool and spa, a two-tale clubhouse with game room and billiards, a fitness center with spin studio, a pet park and spa, and community grilling areas and a bike wash/repair shop.
Gateway Arvada Ridge serves a preference and need among those looking for multifamily homes on the westside of Denver. The community is adjacent to Arvada Ridge Station, which gives residents simple access to Union Station in downtown Denver and to the unique historic district of Olde Town Arvada and its wide array of restaurant, shopping and entertainment choices.

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INDIANAPOLIS, IN -Stoneweg US, a real estate investment firm specializing in multifamily acquisitions and developments, announced its first acquisition for 2021 with the closing of Aura, M Club, and Retreat Northwest (AKA ‘Indy Portfolio ) increasing the Company s presence in Indianapolis to four properties.
Along with adding 849 units to the portfolio and expanding our presence in Indianapolis, this acquisition concludes the 1031 exchange from our successful portfolio disposition at the end of last year. The Indianapolis market has seen fantastic growth over the last 5 years, fared very well during the Covid-19 Pandemic, and is poised for continued growth and migration into the future, said Chief Investment Officer Ryan Reyes. It s a smart deal for us and a fantastic way to kick-off 2021.
Located in the Western region of Indianapolis, Aura features 125 units consisting of 1 and 2- bedroom apartments. The property has a 1970 vintage and is located near major employers such as Walmart, Amazon, Lowe s and the Indianapolis Airport providing a diverse sector of renter potential to the property. Capital expenditures, estimated at around $1MM, will focus on exterior renovations including new roofing, an upgraded playground, pool enhancements and energy-efficient LED lighting installation throughout the grounds.
Boasting 388 units and a 1979 vintage, M Club is the largest in the ‘Indy Portfolio and positioned on the Northeast side of Indianapolis. M Club offers simple access to various landmarks in the city including downtown Indianapolis, Harrison State Park, and elite retail destinations. M Club has considerable amenities including a clubhouse, dog park, and resort-style pool. Stoneweg US will dedicate ~$2.5MM in capital expenditures to further modernize the property to appeal to younger and professionals alike.
Built in 1973, and situated in the Northern region of Indianapolis, Retreat Northwest features 336 units. With its classic construction and premier location, Stoneweg US will focus on enhancing curb appeal with its Capex plot (estimated at ~$2MM) by adding an outdoor kitchen, a new Pergola, office and amenity upgrades, and lush landscaping. Interior upgrades are scheduled for hefty improvements adding modern appliances, new flooring, modern countertops and cabinets, and fresh paint to all units.
The business plot for the ‘Indy Portfolio while aggressive, is consistent with that of any other asset we buy, said Mike Cacciatore, Associate Director of Acquisitions for Stoneweg US. Our goal is to always position our investments for growth and watch them flourish; we re confident that the plot in place will do just that.
The PMR Companies, who currently manages Harrison Point, the Company s first acquisition in Indianapolis, will oversee operations for the ‘Indy Portfolio .

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