GRAND RAPIDS, MI – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the acquisition of approximately 24 acres of land in Grand Rapids where the company will develop The Grove by Watermark, their newest Class A luxury apartment community in the Midwest and first in Michigan. The expected completion date is August 2022.
Located at 3590 Beltline Avenue NE, The Grove by Watermark is northeast of I-96, Michigan’s major east-west thoroughfare, connecting Grand Rapids, Lansing and Detroit. With frontage on Beltline Avenue, a major north/south connector, the convenient location offers residents a small commute to downtown Grand Rapids, where they can delight in local museums, the John Ball Zoo and a host of breweries and restaurants. A fantastic majority of the area’s major employers, including Axios, the headquarters of Midwest supercenter chain, Meijer, and Spectrum Health, the largest employer in Western Michigan with 31,000 employees, are within a 15-mile radius.
“Located near the affluent Forest Hills community, and within one of the best school districts in the state, The Grove by Watermark has the distinction of being the only proposed or under construction multifamily community within a 10-mile radius, despite the strong demand,” said Brian Southworth, senior vice president of development with Watermark Residential. “The fact that we were able to secure such a fantastic site for this development which we expect will exceed the region’s high standards and help to serve the rental needs of the community is a testament to the entire Watermark team.”
The Grove by Watermark will include 320 one-, two- and three-bedroom apartment homes, averaging nearly 1,200 square feet. As with all luxury Watermark communities, the utmost care has been taken to make a superior resident experience. Each unit will feature Class A premium interior finishes, such as 9-foot ceilings with designer light fixtures, smooth glass cooktop stoves and stainless steel appliances, gourmet bar-kitchens with granite countertops, walk-in closets, garden tubs and full-size washers and dryers. Some units will also include an attached garage.
The resort style community amenities will consist of a professionally decorated clubhouse, a 24-hour fitness center with state-of-the-art equipment, a swimming pool with cabanas and fire pits, pickle ball courts, as well as a pet-friendly bark park and doggie spa. Plus, each resident will have consistent access to a committed management team dedicated to the highest-level of service.
The Grand Rapids-Wyoming MSA is the fastest growing region in the state, home to more than 1million residents, with Grand Rapids itself expected to grow 4.5 percent over the next five years. Job growth in the area has averaged over 2.3 percent per year for the last 10 years, with BestPlaces.net predicting a job growth of nearly 36 percent over the next decade. Additionally, Grand Rapids consistently ranks high on the U.S. News’ livability scale and has been named the “Best Place to Live in Michigan”, as well as one of the 15 best places to live in the country. Some other accolades for Grand Rapids include:

#1 “Fastest Growing Economy in the U.S.”, as ranked by Forbes.
#1 “Places that Millennials are Flocking to in the U.S.”, as ranked by Business Insider.
“Best Travel Destination in Michigan for 2020”, as ranked by Travel Pulse.

Josh Purvis, managing partner with Watermark, added, “As with all of our developments, The Grove by Watermark meets our stringent selection criteria, including simple access to major thoroughfares and proximity to major employers and high-quality retail experiences. With a strong regional demand and limited supply of Class A multifamily residences, we look forward to bringing the Watermark experience to Grand Rapids.”

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MARIETTA, GA – Vista Realty Partners and The Worthing Companies announce the grand opening of Marketplace Vista Apartment Homes, the new apartment community located in the $120 million Connolly Development and Eden Rock Real Estate Partners development. Situated at the intersection of Powers Ferry and Terrell Mill Roads, Marketplace Vista luxury apartments define a large role in the transformation for this corridor and surrounding neighborhood. The community offers an extraordinary variety of amenities to enrich the lifestyle for new residents.
For floor plans, a full list of our amenities, and a full gallery, visit our website at marketplacevista.com.
The 298-unit community offers one- and two-bedroom apartment homes with direct access from both Powers Ferry and Terrell Mill roads, and features top amenities including an 8,500 sq. ft. clubroom with a gaming area, a yoga room, a state of the art fitness center, micro-offices, a pet spa and a putting green. Unit finishes include designer cabinetry, granite countertops, stainless steel appliances and in-wall high speed internet & media cabling. Marketplace Vista is also less than 10 minutes to I-75 and I-285 with simple access to Vinings and The Battery at Truist Park, which is home of the Atlanta Braves.
The Marketplace Terrell Mill development is the cornerstone of the neighborhood with a dynamic walkable mixed-use village. The center will include a 95,000 square foot Kroger superstore, Chick-fil-A and Panera Bread with more retail coming soon.
Vista Realty Partners has partnered with The Worthing Companies to manage the community. The Worthing Companies has over 34 years of experience in apartment community management and new lease-up communities; their five-star approach to customer service and commitment to making a high-end resident experience is the perfect match for the new Marketplace Vista.

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ALEXANDRIA, VA – CIM Group announced that it has bought Southern Towers, a 2,346-unit multi-family property comprised of five 16-tale high-rise apartment buildings located at 4901 – 5055 Seminary Road in Alexandria, Virginia. The buildings, totaling nearly two million square feet, were constructed between 1961 and 1965, with one building renovated in 2015. This acquisition further expands CIM s residential portfolio in the greater Washington, D.C. area to more than 5,500 units.
The five residential towers are situated across 40.5 acres featuring a variety of outdoor amenities including two large swimming pools, tennis courts, and a playground set in a parklike setting. Indoor amenities include a fitness center in each building, a community room and a business center. Units range from studios to three-bedrooms in a variety of floor plans.
Completing this transaction at this time relied on the experience of CIM s Investments, Real Assets Services, and Capital Markets teams efficiently managing the acquisition process. CIM will continue to work with community and city leaders to maintain the prominence of Southern Towers for the Alexandria community.
Southern Towers is conveniently located in North Virginia with direct access to Interstate 395 and a small drive to Crystal City, Pentagon City, Arlington, Falls Church, Fairfax, Springfield, Tyson s Corner and Washington D.C. The property is six miles from Amazon s HQ2, Washington D.C. s Ronald Reagan Airport and eight miles from downtown D.C.
CIM has been an active owner, developer, and operator in the greater Washington, D.C. area for more than 15 years. CIM s greater Washington, D.C. portfolio, has included office, hotel, and residential properties. In Alexandria, CIM currently owns and operates Skyline Towers, a 939-unit residential community, Mason at Van Dorn, a 1,180-unit residential community, and Park Place at Van Dorn, a 285-unit residential community. CIM is currently converting the former Crowne Plaza Hotel Alexandria at 901 N. Fairfax into 119 residential condominiums and 41 townhomes.

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