CARY, NC – DF Multifamily, a division of Drucker + Falk (DF), one of the nation s most prominent multifamily management companies, recently assumed the leasing (along with Lee & Associates) of The Walker apartments. This new, vibrant mixed-use project in the trending downtown Cary, North Carolina market overlooks Cary Downtown Park with the first apartment homes scheduled to be ready in early 2022.
The Walker consists of 153 apartments and commercial space carved out for restaurants and retail stores. With so many businesses coming to Cary, The Walker will be home to future office developments. Located adjacent to the new state-of-the-art regional library on the corner of Walnut and Kildaire Farm Road, the apartment community will feature an outdoor swimming pool, high-tech fitness center, dog wash station, billiard room, private workstations, a penthouse sky lounge, open floor plans, and high end finishes. The Walker will also be adjacent to downtown Cary s soon-to-be built and iconic Downtown Park.
The Walker is owned and being developed by Academy Park Cary, LLC (APC). APC is a partnership of three multigenerational Cary families and Integrated Asset Advisors. The development companies: Monument Properties, MacKenan, and Triangle Real Estate Company are owned by the Knier, Stephenson, and Zahn families, respectively. The Walker was designed by Cline Design Associates and is being built by Clancy & Theys.
The timing for The Walker could not be better as downtown Cary is experiencing a much-awaited revitalization. Downtown Cary has the urban history and walkability but with the safety and security of an authentic small town, says Bill Zahn, the project’s lead developer. In addition to fine dining, laid back breweries, high-ranked schools, and cultural icons like the Cary Art Center and soon to be built DTC park, residents are within walking distance of all the hotspots and in position to fully delight in Cary, which is truly positioning itself to be a phenomenal place to live, learn, work, exercise, relax, and play.

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LOS ANGELES, CA – CIM Group announced the sale of a 153-unit, five-tale apartment building with approximately 15,000 square feet of ground floor retail and 308 spaces of subterranean parking in West Los Angeles.
The recently completed building has a central location, at 1500 S. Granville Avenue on the south side of Santa Monica Boulevard, an active corridor with public transportation, shops and dining.
The building features a contemporary architectural design and offers a mix of studio, one-bedroom, two-bedroom and live-work unit floorplans with 16 units set aside as affordable. Residents have a variety of indoor and outdoor gathering spaces available for co-working, recreation and socialization that are among the most sought-after property amenities.
Earlier this year, CIM Group sold the adjacent 147-unit apartment community, Elevate, completed in summer 2019, with approximately 39,000 square feet of ground floor retail space that CIM leased to community-serving retailers including Target, Health Spot pet store and AKT Fitness studio. Additionally, The Westgate Collection, three, four-tale buildings with a total of 37 apartment homes on parcels to the south of Elevate which were completed in 2017, were also included in the sale
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and making dynamic environments throughout Los Angeles as well as throughout the Americas.

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AUBURN, AL – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, and a private equity real estate fund advised by Crow Holdings Capital, announced the acquisition of the 600-bed student housing complex Aspen Heights for an undisclosed amount. Serving Auburn University, the property has been rebranded The Collective at Auburn and is undergoing major upgrades.
We continue to seek quality assets located in close proximity to major colleges and universities that can benefit from material improvements and our proprietary management and marketing systems, said John Preiss, TPCO chief investment officer. The ‘new Collective at Auburn is an ideal addition to our nationwide portfolio of student housing complexes as we further target Tier 1 schools in a Power 5 conference.
TPCO plans to invest a significant amount of capital to improve The Collective at Auburn. The upgrade program will emphasize a complete redesign of the clubhouse and amenity areas to improve the functionality of the space for today s college student. Other improvements include new exterior paint, additional unit furniture to meet future market demand and green initiatives, such as installation of LED lighting and water saving devices throughout the property.
Situated at 721 Aspen Heights Lane in Auburn, the property consists of a collection of cottages surrounding a well-landscaped resort-style pool, hot tub, outdoor fireplace and full volleyball court. A clubhouse features a computer lab, study lounge, movie theater, game room and fitness center.
The complex offers two-, three- and four-bedroom floor plans, each providing private bedrooms, bathrooms and ample closet space. The open space layout features a living room and spacious kitchen with granite countertops, black appliances and shaker-style cabinets. Linen closets and extra storage are provided, as well as a full-sized washer and dryer.
The upgrades will be handled in phases to ensure minimal resident disruption, meaning The Collective at Auburn will be ready to open fully for the coming school semester, with a fantastic staff and a 95% pre-lease for fall 2021, said Donna Preiss, TPCO founder and chief executive officer. As a sister project to the Collective at Clemson, one of our top performing assets, we re confident that this acquisition will quickly become the off-campus student lodging of choice at the university.

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