DALLAS, TX – Supporting the city of Fate, Texas, and senior residents alike, Gardner Capital has begun work on Gala at Fate, a public-private partnership designed to deliver quality senior housing as well as additional long term revenue for the city itself. Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, continues to increase its annual capital allocation for investment in markets throughout Texas – with multiple affordable housing developments focusing on both senior, family, as well as mixed-income developments.
For Gala at Fate, the City of Fate will partner with Gardner Capital through their Public Facilities Corporation (PFC), leasing the land and partnering with Gardner Capital for long term ownership and operation of the Project – allowing for additional revenue to the City of Fate that can be used for future public or economic efforts. CREA and Citibank are additional financial partners for the Project, along with Gardner Capital, with Citibank providing both construction and permanent financing.
“The City of Fate is excited to welcome high-quality senior housing to our growing city,” said Mayor Joe Burger. “An vital piece of our community’s Comprehensive Plot is to provide a wide range of housing choices, from first-time home buyers up to retired grandparents living in our community. Gala at Fate gives an affordable option for independent seniors to live near their loved ones in Fate.”
“The creation of the Fate Public Facility Corporation was the key to get this project off the ground,” said Allen Robbins, President of the Fate Public Facility Corporation. “The PFC’s partnership with Gardner Capital not only makes high-quality senior housing, but also provides lasting value for the City of Fate.”
“We are excited about our new partnership with the City of Fate and look forward to building upon that long-term partnership in the coming years. As we continue to expand our investment in the DFW region, we look forward to providing the necessary development and financial resources to other communities in the DFW region to provide more quality affordable housing…at a time when housing continues to become more and more unaffordable. It is through these long-term partnerships that we are able to make transformative developments, but most importantly, to deliver quality affordable housing to those in need,” said Michael Gardner, Principal and CEO of Gardner Capital, on the value and importance of public private partnerships and how vital such partnerships are, especially in challenging and uncertain economic environments.
Anticipated for completion in January 2022, the project will be located at 359 E. Black Oak Ln. Gala at Fate will boast 185 units, with a mix of one-, two- and three-bedroom apartments. The high-quality senior housing will serve seniors of all incomes, including those on fixed incomes, with upgraded architecture and fixtures as well as a resort-style pool and fully appointed clubhouse with a fitness center and club room. Treymore Construction is the general contractor for Gala at Fate.

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HOLLY SPRINGS, GA – Bluestone Properties is a vertically integrated private real-estate company that owns and manages stabilized high-quality multifamily assets in high growth secondary markets. The firm’s newest acquisition just out of lease up is the 2019, built 282-unit property named The Darby located in Holly Springs.
This Darby is strategically located in Atlanta’s fastest growing suburban market, Cherokee County. The property’s location off the I-75 North corridor offers residents a variety of lifestyle amenities such as kayaking or hiking at Lake Allatoona Waterfalls. In addition, this location offers convenient access to major job hubs, as well as numerous shopping and dining options.
The Darby is an upscale garden style community with thoughtful interiors and urban amenities. The apartment homes feature stainless steel appliances, granite countertops and tiled backsplash. The property boasts a comprehensive amenities package that includes resort style pool with a sundeck, a pet park, outdoor grilling stations and a trellised fire pit lounging area for residents to delight in.
Senior Vice President for Bluestone Properties, Monica Escobedo, clarifies, “The addition of The Darby to our portfolio is a huge win for us, The Darby has unique positioning in the market that appeals to a wide audience, as it offers best in class outdoor activities for an active lifestyle, shopping and entertainment and all of it is right in the heart of a natural setting, The Darby has a small something for everyone and we are very proud to welcome this community and the residents into our portfolio.”

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BIRMINGHAM, AL – Carter Multifamily announced its acquisition of the 240-unit Summerchase at Riverchase for approximately $26.67 million.
Built in 1988, the Hoover, AL apartment community includes 16 two-tale, wood frame buildings situated on 24.73 acres in a natural wooded park-like setting. The unit mix includes one- and two-bedroom units.
Community amenities include a clubhouse, resort style pool and spa with sundeck, outdoor grilling areas, fitness center, tennis courts, two pet parks, and on-site laundry facilities. Residents delight in direct access to Birmingham and major employers via I-65 as well as 5.5 million square feet of nearby Class A retail.
“The attractive fundamentals and location of this off-market deal paired with our strategic deployment of a value-add strategy aims to deliver risk-managed and accretive returns. We are excited about the performance potential of this market which has fared well during the pandemic and the improvements we have plotted to enhance the resident experience at this community,” said Ray Hutchinson, chief investment officer of Carter Multifamily.
Carter Multifamily intends to do a substantive value-add strategy by enhancing the amenity package, completing interior and exterior upgrades, and by implementing property management best practices.

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