AUSTIN, TX – Upside Avenue, an award-winning Real Estate Investment Trust (REIT), recently added six new multifamily properties to its public non-traded REIT portfolio in the last two months.
Five new multifamily properties, totaling 1,070 units, were added in the beginning of March. These properties are located in various areas of the highly in-demand, Dallas-Fort Worth market. This market has seen an unprecedented economic growth and migration in recent years as a result of its diverse economy and business-friendly environment.
The most recent investment is a large 737-unit community in a prominent and growing neighborhood in Houston, Texas. It is located west of uptown and just south of the energy corridor which provides fantastic access to many of the city s top employers, retail centers, and entertainment hubs.
Now is the perfect time to focus on the strategy of buying low and selling high and we do it with a margin of safety in our underwriting, said CIO Chi Hathiramani.
The effects of COVID-19 on the industry has caused a shift in how Upside Avenue invests.
Today, value-add is a bit more hard because rents are lower and wage incomes have dropped, said Hathiramani. We re not sure we can get the same rent premiums today that we would usually underwrite under normal circumstances. Instead, we re focusing on A- to B class assets in bulletproof locations where we can really derive long term appreciation while driving a healthy dividend today.
Upside Avenue continues to look for opportunities to invest in that provide investors with a stable, long-term alternative to the stock market.
An article by Nareit references how REITs have generally protected against stock market declines. Because REITs give investors exposure to an entirely different market cycle—the real estate cycle, which is very different from (and longer than) the business cycle that drives returns for most non-REIT stocks—REITs provide a diversification benefit that investors can t replicate without maintaining a substantial allocation to the real estate asset class.

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MACON, GA – Watercrest Senior Living Group and equity partners, Peninsula Alternative Real Estate, and Corecam Capital Partners announced the groundbreaking of Watercrest Macon Helped Living and Memory Care in Macon, Georgia. The 98-unit, upscale senior living community, financed by Renasant Bank and under construction by EMJ Corporation, is scheduled to welcome residents in Summer 2021.
“Partnering with both Peninsula and Corecam offers a unique opportunity to develop an exceptional senior living community in the charming city of Macon,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “We look forward to developing relationships within the growing community and providing the seniors of Macon the diverse and enriching lifestyle they deserve.”
Watercrest Macon will feature 76 helped living and 22 memory care residences with resort-style service, extraordinary care and premium accommodations. The comfortably, classy design includes a stunning promenade, fireplace, signature water wall, salon and spa, multiple dining venues and Southern style outdoor living spaces.
“Watercrest not only develops gorgeous buildings, but serves with the highest levels of culture, training and engagement,” says Juan Fernando Valdivieso, Managing Director of Peninsula. “We are honored to partner in the development of Watercrest Macon in offering these seniors and families the highest quality of senior living.”
Watercrest Macon is ideally located at 111 Providence Boulevard in the thriving Providence at Bass development. The prosperous area offers high-end residential, plentiful retail and dining establishments, as well as diverse cultural and entertainment venues, all encompassed by the Southern charm of Macon.
“Corecam entered the U.S. senior housing market two years ago seeking a partner with operational expertise, excellence in care, and a right appreciation for our seniors, and we are thrilled to have found this in our partnership with Watercrest,” says Maximilian Hönigsmann, Managing Partner of Corecam Capital Partners. “We look forward to the development of Watercrest Macon and our future partnerships with Watercrest.”
Corecam Capital Partners is the direct investments arm of the Corecam Investment Group, an independent and partner-owned Family Office for global entrepreneurs and their families. Founded in 2009, the group has around 50 employees in Singapore and Zurich. Corecam Capital Partners provides investors with access to regular dealflow of privately sourced and inhouse structured investments through its direct investment platform. The investment focus lies in Real Estate, Private Equity and Private Lending.
Peninsula Alternative Real Estate (“PARE”) is a leading private equity firm in the Student & Senior housing space and a vertical within Peninsula Investments Group. PARE provides equity and mezzanine financing to leading developer-operators following institutional quality processes developed over the last decade.
Watercrest Senior Living Group was founded by Marc Vorkapich, CEO, and Joan Williams, CFO, to honor our mothers and fathers, aspiring to become a beacon for quality in senior living by surpassing standards of care, service and associate training. Watercrest senior living communities are recognized for their luxury aesthetic, exceptional amenities, world-class care, and innovative memory care programming offering unparalleled service to seniors living with Alzheimer’s and dementia.

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ORLANDO, FL – Mill Creek Residential, a leading multifamily developer and operator specializing in premier apartment communities across the U.S., announced the groundbreaking of Modera Creative Village, a contemporary mixed-use apartment community in the emerging Creative Village district of Downtown Orlando.
The eight-tale midrise, which will feature 292 apartment homes and approximately 10,000 feet of ground-floor retail, is part of a master development effort to transform the former Amway Arena area into a vibrant, multidimensional environment in which to work, learn and live in the heart of Downtown Orlando. First go-ins are anticipated for early 2022.
“The momentum of Creative Village will produce a dynamic urban infill neighborhood with prime opportunity for immediate growth, and we’re excited to be a part of it,” said Eran Landry, vice president of development for Mill Creek Residential. “We believe Creative Village will quickly become one of the most desirable places in the downtown market, and we’re keen to offer a unique living experience.”
Situated at the intersection of West Amelia Street and Ronald Blocker Avenue, Modera Creative Village will ultimately be bordered by a large public park, which will serve as the “Central Park” and provide connectivity to the numerous academic, employment and retail facilities in the immediate area. When complete, Creative Village will be among the most walkable locales in the city and already features brilliant transit and bikeability.
Within downtown Orlando, residents will have walkable access to a wide variety of attractions, including a diverse range of museums, restaurants, boutique shops, nightlife options and parks. This includes Bobb Carr Theatre, Dr. Phillips Performing Arts Center and several art galleries, which help make a rich cultural footprint.
Modera Creative Village will offer studio, one-, two- and three-bedroom homes with several design options to meet the needs of residents. Community amenities include a resort-style pool with outdoor social spaces, club-quality 24-hour fitness center with yoga area and fitness programming, clubroom, outdoor kitchen/dining area, private seating areas and outdoor courtyards. Residents will also have access to digital package lockers.
Apartment interiors will be delivered with a variety of features, including 42-inch custom cabinetry, solid-surface countertops, tile backsplashes, stainless steel appliances, wood-style flooring, stackable washers and dryers, designer fixtures and lighted mirrors at bath vanities. Select homes will include movable kitchen islands.
Modera Creative Village marks Mill Creek’s second development community in Orlando, joining Modera Central. Modera Central, which is located in the South Eola neighborhood and home to the redeveloped University Club of Orlando, started leasing in 2018.

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