CHATTANOOGA, TN – Mission Rock Residential is continuing its eastern regional growth, announcing a new management contract for Bluebird Row Apartments in Chattanooga, Tennessee. The company has been issued an agreement for the management of the community by Bay Area-based multifamily investor Hamilton Zanze Real Estate Investments.
“We couldn’t be more excited to have this unique and gorgeous city-center apartment community in such an active, thriving neighborhood join the Mission Rock portfolio,” said Patricia Hutchison, President of Mission Rock Residential. “Our Tennessee presence and team are growing, and we have best-in-class support for a smooth transition. Chattanooga is especially well-positioned, with its expanding tech start-up culture, innovative implementation of technology like the city-wide broadband internet, and migration of new businesses along with residents seeking a vibrant new place to live.”
Bluebird Row Apartments features 283 apartment homes, ranging in size from studios to three-bedrooms. Located in the Southside neighborhood of Chattanooga, at the former site of the famed Chattanooga Choo Choo train terminal, the community offers a fourth floor sky lounge with views of Lookout Mountain, a saltwater pool with a refurbished trolley lounge, an onsite market, a collaborative co-working space, a 24-hour fitness center with weekly on-site classes, and an outdoor yoga space. Additional amenities include a bike share program, a dog wash, secure package lockers, and gated electronic entry into the community.
Individual apartments are equipped with side-by-side refrigerators, granite countertops, in-unit washers and dryers, NEST thermostats, extra-large closets, and wood-style flooring throughout.
Southside, once the urban center of industry in Chattanooga, came to be known for its abandoned warehouses and ancient buildings during the mid-20th century. Today, revitalizations have filled the neighborhood with the art, culture, cuisine, and entertainment that has come to define the city. With 50+ businesses spread across the neighborhood, this once-desolate area is experiencing a second life and is well-primed to host new residents.

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BEND, OR – Security Properties and a university endowment bought Outlook at Pilot Butte, a 205-unit, Class-A multifamily community located in Bend, OR for $52,000,000. This is Security Properties’ third acquisition in the Bend market.
Outlook at Pilot Butte is conveniently located on Bend’s eastside just a five minute drive from Downtown. The property is situated at the base of Bend’s most iconic landmark, Pilot Butte. The 114-acre Pilot Butte State Scenic Viewpoint rises nearly 500 feet above its surroundings and includes a two-mile hiking trail to the summit. More than 750,000 locals and tourists visit Pilot Butte each year.
In recent years Bend has become nationally recognized for its relatively low cost of living paired with its high quality of life. Outdoor enthusiasts frequent the varying bike trails and walking paths, innumerable golf courses, rivers, and proximate ski resorts. Bend also boasts an array of breweries and restaurants, as well as the Les Schwab Amphitheatre, an outdoor, riverfront venue that hosts a mix of year round concerts and events. The area has become home to a diverse and ever-expanding business community, anchored by a mix of biomedical companies, regional hospitals, national-scale microbreweries, resorts, and Silicon Valley tech transplants.
The units at Outlook at Pilot Butte offer a mix of 1- and 2- bedroom floorplans. The apartment homes feature well-appointed kitchens, air conditioning, spacious walk-in closets, in-unit full-size washers and dryers, as well as private patios / balconies. Additionally, the property offers a clubhouse with resident lounge, best-in-class fitness center, game room, bicycle storage facility and both an outdoor fireplace and fire pit lounge.
The asset represents a core-plus investment with light interior and exterior renovation characteristics. SP will be adding cosmetic upgrades to unit interiors as well as enhancing the existing amenity spaces.
Alex Gauper, Investment Manager at Security Properties says, “Bend continues to be a top target market for SP due to its compelling combination of affordability and overall quality of life. This is a top-of-the-market asset that will combine well with our existing market footprint and provide brilliant returns for our investors as Bend continues to grow.”
The property will be managed by Security Properties-affiliate Security Properties Residential.

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BOWIE, MD – Balfour Beatty Campus Solutions, a leading developer and operator of infrastructure projects for the college and university market, announced that financial close has been reached on a public-private partnership (P3) project at Bowie State University to deliver an on-campus housing community that will also feature an entrepreneurship center designed to house University-run business organizations.
Balfour Beatty Campus Solutions, along with architect Design Collective Inc. and builders Balfour Beatty Construction and Smoot Construction, collaborated with BSU leadership and Maryland Economic Development Corporation (MEDCO) on the plotting and design of the new student housing community and entrepreneur center to ensure the details of the project met the University s goals and objectives.
Scheduled to open in Fall 2021, the 170,000 SF development will bring 557 beds to the campus, as well as a variety of amenities, including lounges, flexible classroom space, a fitness center, laundry facilities, community kitchens and parking. Construction of the project commenced in February 2020.
The development will also become the main hub for BSU s Entrepreneurship Academy, an organization that helps students develop their own business opportunities and become innovative thinkers and problem-solvers for established companies. It will also house the Bowie Business Innovation Center(BIC), the first business accelerator located at a Maryland historically black university. Offices, multipurpose rooms, a maker space and conference rooms are included in the design to support both programs.
“Our partnership with BSU is a perfect example of the innovation that a P3 solution can bring to universities and their students,” said Bob Shepko, president of Balfour Beatty Campus Solutions. “This partnership allows the University to support their growing student body with much-needed modern housing options and provides a dedicated place for the creative leaders of tomorrow to develop their knowledge and skills as they prepare to enter the business world upon graduation.
MEDCO is the project s residential facility owner through an issuance of project-based, tax-exempt debt financing. Upon completion, the housing community will be managed by the University.

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