NEWPORT NEWS, VA – ROSS Companies, a leader in multifamily acquisition, property management and renovation in the Mid-Atlantic region, announced it has helped in the acquisition by Allagash Opportunity Zone CRE Fund I of Woodlands at Oyster Point, a 152-unit community in Newport News, VA with ROSS Management Services as the managing agent.
The acquisition of Woodlands at Oyster Point marks the start of a new alliance with Allagash Opportunity Zone Partners LLC, the manager of the Fund, as well as ROSS’ most active participation in an Opportunity Zone investment. Founded in 2018, Allagash manages private equity real estate funds which focus on adding value to multifamily properties in low- and moderate-income communities in order to maximize both returns for their Fund investors and benefits for current community members. ROSS Companies is a recognized leader in multifamily acquisitions and investment, development, property management, and renovation.
“Our Company is dedicated to making a quality living experience for our residents and value for our partners. This alliance will enable us to enhance resident satisfaction, maximize financial performance, and make the groundwork for future opportunities between our organizations,” says David J. Miskovich, CEO of ROSS Management Services.
“The shared core values of Allagash and ROSS is producing an extremely productive alliance. As a result, we look forward to continuing to provide capital together with ROSS into LMI communities in a profitable and socially thoughtful manner,” adds Tony Barkan, CEO of Allagash.
Over the next year, ROSS will oversee a renovation program to upgrade Woodlands at Oyster Point to meet the growing demand for affordable quality housing in a convenient location. The renovation program includes a substantial repositioning strategy with $40K per unit being budgeted on interior, exterior and amenity improvements.
Woodlands at Oyster Point is nestled in a newly developed section of Newport News and is in close proximity to City Center at Oyster Point, a brand-new shopping center boasting an abundance of retail shopping, fine dining, Class A office space, a movie theater and more!
“Woodlands at Oyster Point offers Allagash the perfect opportunity to buy an underperforming and under-maintained property in an improving neighborhood and renovate the property in order both to provide affordable quality housing for current community residents and to provide an brilliant return on capital for our investors,” clarifies Mr. Barkan.
“Our management will focus on enhancing the lifestyle of our residents with a customer- and technology-centric approach,” said Mr. Miskovich. “As with all communities we manage, we will build strong personal relationships with our residents, focusing heavily on customer satisfaction to make living at Woodlands at Oyster Point a truly outstanding experience.”

Powered by WPeMatico

ORLANDO, FL – Lloyd Jones, a real estate investment firm based in Miami, has recently bought a 292-unit apartment community, Avisa Lakes Apartments. Conveniently located in East Orlando, Avisa Lakes is the third property Lloyd Jones owns and operates in the area.
Built in the mid-1980s, the property features an all-encompassing amenity package including a newly renovated fitness center, resident game room, outdoor summer kitchen, sports court, and two pet parks. Additionally, it is walking distance to AdventHealth East Orlando, a 295-bed facility that was ranked the number one hospital in Florida in 2019.
The explosive economic growth in the area indicates a strong demand for multifamily properties, clarifies Christopher Finlay, CEO/Chairman of Lloyd Jones. We are thrilled to further expand the firm s portfolio to support nearby major employment centers including Downtown Orlando, Winter Park, the airport, and various theme parks, he continues.
According to the U.S. Census Bureau, Orlando continues to be one of the fastest-growing cities in the country, welcoming over 60,000 new residents in the past two years.
Lloyd Jones is a real estate investment and development firm with 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily investment, development, management, and senior living. Its investment partners include institutions, private investors, and its own principals.

Powered by WPeMatico

DALLAS, TX – Century Bridge Capital announced that it has invested in a middle-income, residential project in Huzhou, China. The project will be jointly developed with Redsun Real Estate, a Hong Kong listed developer based in Nanjing.
Huzhou is a prefecture city in the northern Zhejiang Province in the Yangtze River Delta. It is known as the “City of Silk” in China and is an vital manufacturing area for the region. As a pilot city in China’s strategic plot, “Made in China2025”, Huzhou’s manufacturing sector is well developed with prosperous industries including traditional as well as high-tech and emerging industries. Government support has attracted investments from high-tech companies such as Huawei.
Commenting on the investment, Century Bridge CEO, Tom Delatour, noted, “The Huzhou opportunity allows us to invest in the first phase of a plotted two-phase project. The first phase consists of 377 low rise units and 57 townhouses, along with 350 underground parking units as well as a kindergarten facility with 15 classrooms. The project is located in the Renhuang Mountain Area which is part of the central urban district. The government has supported development in the area since moving their offices there in 2016 and it is considered the most livable region in Huzhou with premium educational sources and attractive natural surroundings.”
With respect to the market Mr. Delatour added, “Units representing 40% of the total residential being developed have already been sold. In addition, there is limited local land supply and much of the existing inventory in the market has been absorbed. Consequently, we believe that the location, quality, and amenities of the project combined with the increasing affordability of housing in Huzhou will drive strong sales velocity over the balance of 2020.”
Noting the strength of Redsun Real Estate as a joint venture partner, Century Bridge President, Wei Deng, commented, “Century Bridge is pleased to invest with Redsun Real Estate, a leading Hong Kong listed developer with an established presence in the Yangtze River Delta Region as well as recognized development expertise and industry status. We are confident that we will benefit from Redsun’s knowledge of the region as we work together in completing and marketing the Huzhou development. Our China-based team looks forward to working with and building our relationship with the Redsun Real Estate development and sales team.”

Powered by WPeMatico