TEMPE, AZ – FCP announced the $77.0 million acquisition of Solara at Mill Avenue, a 515-unit apartment community in Tempe, Arizona, through a joint venture with Tides Equities. The acquisition of Solara at Mill Avenue, which is adjacent to the partnership’s June acquisition, Tides at South Tempe, marks its second investment in Tempe in three months.
“Solara at Mill Avenue provides FCP with a well-located community that will benefit from our asset management strategies,” said FCP Vice President for Acquisitions concentrating on FCP’s Western U.S. investments, Bart Hurlbut. Mr. Hurlbut continued, “We anticipate operational efficiencies with Solara being immediately adjacent to our Tides at South Tempe property.”
“Tides is thrilled to partner with FCP on our second transaction together in South Tempe,” said Sean Kia, Co-Founder and Principal of Tides Equities. “Solara at Mill will give us further efficiencies and economies of scale in that submarket, allowing us to further reduce our expenses across the board.”
Solara at Mill Avenue is located close to Superstition Freeway and Interstate 10, proximate to major job centers, downtown Tempe, downtown Phoenix and the Phoenix Sky Harbor International Airport. Residents delight in convenient access to shopping, restaurants and entertainment areas. The community features one and two-bedroom units with updated kitchens with new cabinets and quartz countertops, wood-style flooring and large windows. Private, fenced-in yards and stainless steel appliances are available in select units. Community amenities include a clubhouse, covered parking, dog park, firepit and event lawn, pool and 24-hour parcel/package concierge.
FCP and Tides Equities extend their appreciation to Matt Pesch at CBRE, who brokered the sale.

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TUSCALOOSA, AL – Spaces Management announced the opening of The Walk Tuscaloosa, a new student housing community at the University of Alabama. The Walk was developed in partnership between Spaces and Elite Building, with Elite as the general contractor and Spaces managing and operating the property. The project was designed by Poole & Company with Southpark Interiors, and Function First Furniture providing interior finishes.
The newly constructed building opened its doors to residents on schedule and to overwhelmingly positive reviews. The community is located directly across the street from Tutwiler Hall, one block from Sorority Row, Starbucks on Campus, and Bryant-Denny Stadium. The four-tale building is home to 87 units with 251 bedrooms.
“We could not be more pleased with the finished product,” says Andy Turner, CEO of Spaces Management. “Our partner, Elite, did a tremendous job to meet the construction timeline of just 14 months, even with the challenges of COVID-19. It was especially rewarding to hear the positive feedback from parents and students about the property and the high-level of customer service from the Spaces staff on go-in day as we welcomed them to their new home.”
The community boasts bedroom to bathroom parity, and 100% secured parking for tenants in a parking garage located below the building. Units are fully furnished and feature quartz countertops, tile bathroom flooring, walk-in showers, luxury vinyl plank wood-grain flooring, and stainless steel appliances.
Shared amenities include three fitness areas, private and group study spaces featuring 70″ touch screen TVs, café and lounge areas, tanning bed, courtyards with gas grills, a firepit, hammocks, and outdoor study areas. The pool and tanning deck overlook a 13-foot LED Wall. For added security, access control to the building allows a resident’s mobile phone to serve as their key.

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JACKSONVILLE, FL – Construction is underway for the new Inspired Living Community in Jacksonville. The community will be located at 10660 Validus Drive, Jacksonville, Florida, 32256.
“We are excited to be offering our best-in-class independent living services to our moms, dads and their families in the Jacksonville, Florida, market. Inspirations at the Town Center in Jacksonville, FL is the first of several new Independent Living sites to be developed in Florida and throughout the Southeast,” stated Steve Benjamin, CEO of Validus Senior Living.
Situated on 12.14 acres, the 227,000 square foot building will boast a total of 169 apartments dedicated to luxury independent senior living.
The community will feature 1- and 2-bedroom apartments sized up to 1,200 sq. ft, paired with resort-style amenities. Multiple dining venue options will include formal, terrace level and private dining in addition to more casual options in a bistro/bar, wine lounge and game/club room. Residents will delight in an on–site spa with salon and massage services as well as fitness and wellness areas with state-of-the-art equipment, outdoor walking paths with surrounding wetland and forest preserves access and a zero–entry outdoor pool. The community will boast outdoor engaging areas such as a grilling area, putting green, pickleball court and dog park. Practical solutions for downsizing include climate-control locker storage and covered parking. An array of services including but not limited to housekeeping and in-home care options will also be available.
The community will be equipped with entry-area cameras, health monitoring systems for alerting staff and concierge/security personnel for 24-hour emergency help. Referring to the amenities Benjamin commented, “To ensure the safety and well-being of our residents and peace of mind for their families, we have incorporated state-of-the-art technology with sensible options for outdoor engagement in addition to wonderful programming and resort-like services to deliver a uniquely care-free lifestyle.”
The project is part of an ongoing relationship with Baxter Development. “Partnering with Baxter Development to introduce our senior living lifestyle to Jacksonville, FL is a fantastic opportunity,” according to Benjamin who is excited about the future growth of the Inspirations brand. In addition to Inspirations at Town Center, Inspired Living and Baxter Development will be introducing several new Inspiration branded projects in 2021.
Baxter Development’s Bryan Schnurr, VP of Senior Living Development, shares the sentiment stating, “Inspired Living has a proven track record as an operator of these luxury communities. We are looking forward to more fantastic things to come.”

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