MOORESVILLE, NC – Blaze Partners announced the acquisition of Legacy Village Apartments, a 229-unit multifamily community located in Mooresville, North Carolina, a northern suburb of Charlotte. The asset was bought on December 13, 2019 by a newly formed affiliate of Blaze.
Built in 2017 by Charter Properties, Legacy Village is adjacent to Lowe’s Corporate Headquarters and Lake Norman Regional Medical Center, two of the largest employers in the Lake Norman submarket, an area that has undergone significant transformation in recent years. The newly developed Class A community consists of one-, two-, and three-bedroom floorplans with additional onsite amenities including a saltwater swimming pool, pet park, resident clubhouse, and a fitness center. Blaze intends to invest additional capital into the asset focused on interior unit upgrades and further refinement of the resident amenity set.
“The Lake Norman corridor has truly established itself as a key nucleus for North Charlotte. It offers residents abundant employment opportunities and a number of lifestyle amenities including exceptional schools and convenient lakeside living,” said Eddy O’Brien, Co-Founder and Managing Partner of Blaze. “Opportunities to buy a new, Class A asset with potential for further capital improvement upside are few and far between, and we are excited we were able to consummate a deal of this profile and add to our growing presence in the Carolinas.”
The acquisition of Legacy Village marks the newest addition to the Company’s growing multifamily footprint throughout the Southeast and is Blaze’s fourth asset in Charlotte. The Company recently bought two additional communities in Charleston, South Carolina in the fourth quarter and have completed nearly $250MM of transaction activity within the Carolinas this year. “The Southeast continues to exhibit fantastic housing fundamentals and is a beneficiary of a growing appetite from global capital,” added Chris Riley, Co-Founder and Managing Partner of Blaze. “Growth throughout the region remains a top priority for us, and we expect to be active buyers in 2020 across the core, core-plus, and value-add spectrum.”

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LOS ANGELES, CA – Greenland USA, a leading developer of large-scale developments in New York and Los Angeles, announced that Metropolis, the 6.3-acre mixed-use development in the heart of downtown Los Angeles, has received a Temporary Certificate of Occupancy for its fourth and final tower, Thea at Metropolis, and concludes major construction on Metropolis. The milestone demonstrates that Greenland USA has fulfilled its promise to deliver multiple community and economic benefits while revitalizing Downtown Los Angeles into an exciting, vibrant community five years after the project first broke ground.
Thea at Metropolis, a 56-tale luxury tower featuring 685 residences for lease, is expected to welcome its first residents this winter. Metropolis’s additional buildings, the boutique Hotel Indigo and luxury condominiums Tower I and Tower II, opened in 2017 and 2018. Tenants for the 70,000 square feet of ground-floor retail are expected to be announced soon.
“Delivery of Metropolis’s final residential tower is an incredible achievement and a testament to Greenland’s commitment to Los Angeles,” said Winston Yan, the General Manager of Greenland USA, Los Angeles. “We are proud to deliver an on-time program of this scale in the United States. Throughout the lifecycle of this project, we have made more than 430 permanent, full-time jobs while employing 1,700 union workers daily. By developing a new walkable, inviting community in the center of LA, we expect the local economic impact to be strong as new families and young professionals as well as commercial tenants call Metropolis home.”
Previously the site of an underutilized parking lot, Metropolis has emerged as a skyline defining, mixed-use development across 6.3 acres of Downtown’s Central Business District offering more than 1,500 residences, a 350-room boutique hotel and 70,000 square feet of prime retail.
Metropolis Tower I opened in 2017 and features 308 residences across 38 floors. It offers studio, one-bedroom, and two-bedroom residences and penthouses. The largest Tower I residences have corner locations with southwest- and northwest-facing views, including Downtown, greater L.A. and the Hollywood Hills.
Metropolis Tower II opened in 2018 and features 514 residences, some with balconies and terraces. Residences include studios, one-bedrooms, and two-bedrooms. A signature amenity (shared with Thea at Metropolis) is the 67,500 square foot outdoor Skypark complete with a heated pool, cabanas, garden pavilion, kids play area, dog park, and more.
Thea at Metropolis features 685 for-lease residences across 56 floors, some with balconies and terraces. The tower is fully amenitized and like Towers I and II, it comes with 24/7 lobby ambassadors.
Hotel Indigo is a 350-room boutique hotel with a prime location in the rapidly-growing Downtown Historic Core. It features an elegant lobby lounge and bar, a sky lounge on the top floor with breathtaking views of the LA Skyline, an outdoor pool with views of LA LIVE, pool restaurant and bar, cabanas, fitness center, a hotel business center, valet parking and concierge service.
Retail opportunities are available across more than 70,000 square feet in the Hotel Indigo and three residential towers. Retail spaces offer street frontage along the primary pedestrian connection between the hotel, residences, Financial District, L.A. Live and the Convention Center.
Greenland USA participated in the City of Los Angeles’s Parallel Design-Permitting Process for major project developments which allowed the design process and the permitting process to run concurrently and helped the project to run efficiently and to be delivered on schedule.

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ALEXANDRIA, VA – CIM Group announced that it has bought Skyline Towers, two 26-tale high-rise apartment buildings located at 5599 Seminary Road in the Bailey s Crossroads submarket of Falls Church, Virginia.
The buildings were originally constructed in 1971 and feature a total of 939-units with an array of amenities in more than one million square feet of space. This acquisition brings CIM s Northern Virginia multifamily portfolio to more than 2,400 apartment units, and more than 3,800 apartment units in the greater Washington D.C. area.
The two towers sit on 12.68 acres, surrounded by manicured grounds with mature trees and grassy areas, and are situated to the north and to the south of an expansive outdoor pool area. The community offers residents a 24-hour fitness center, game room, conference rooms, screening theater, on-site salon and convenience store.
Located in the Bailey Crossroads area of Fairfax County, the property directly borders Arlington and Alexandria counties and provides simple access to major area connectors including the I-395, the Capital Beltway, I-95, George Washington Parkway. Skyline Towers is located a small distance from the area s major employment centers such as three miles from Downtown Arlington, five miles from Downtown Alexandria, six miles from Amazon s HQ2, and is just six miles from Washington D.C. s Ronald Reagan Airport.
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 Mason at Van Dorn, a 1,180-unit residential community, and Park Place at Van Dorn, a 285-unit residential community. CIM recently announced the start of construction to convert the former Crowne Plaza Hotel Alexandria at 901 N. Fairfax into 122 residential condominiums and 41 townhomes.

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