IRVING, TX – JPI announced the sale of Jefferson Chandler to Dallas-based Rosewood Property Company. The city of Chandler, part of the Phoenix East Valley, has experienced tremendous job growth over the last several years. Intel, for example, is a top employer in the city with over 11,000 jobs and is investing $7 billion into a Chandler production facility. This city is quickly living up to its reputation as the “Silicon Desert.”

Jefferson Chandler, a 283-home community developed by JPI in 2018, is managed by Alliance Residential. The community is conveniently located near Chandler Fashion Center, which offers terrific connectivity to major employment centers, first-class retail and fine dining. The location also boasts fantastic visibility and proximity to the freeway interchange of Loop 101 and Loop 202, which are major travel arteries of Phoenix.

“We are proud of the community we have made in Jefferson Chandler, and we’re excited to transition it to Rosewood Property Company,” said Rosie Cooper, Executive Vice President and Regional Managing Partner – Western Region at JPI. “As the city’s economy continues its healthy job growth, Jefferson Chandler is well-positioned to capitalize on sustained demand for multifamily housing, and we believe Rosewood is the perfect owner to capitalize on that growth.”

JPI aims to offer a unique living experience at each of its communities, with a well-balanced and diversified array of services, amenities and design features. JPI believes that together, these elements produce the most gratifying resident experience, and Jefferson Chandler is no exception.

“Jefferson Chandler marks our first transaction with Rosewood Property Company,” said Brad Taylor, Chief Executive Officer and Managing Partner at JPI. “This transaction has gone smoothly from beginning to end. It has been an honor to partner alongside a team of such high caliber, and we are hopeful for more opportunities to work together.”

“We are excited about our first acquisition in the Phoenix market, specifically the dynamic submarket of Chandler in the East Valley,” said Rick Perdue, President of Rosewood Property Company. “Jefferson Chandler is a perfect example of our current focus on core-plus communities in high-growth markets. JPI continues to bring top multifamily communities to the market, and Jefferson Chandler is a fantastic illustration of that quality. We look forward to partnering with JPI again.”

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WINTER PARK, FL – The Bainbridge Companies, the 10th-largest apartment developer and a leading owner and manager of luxury multifamily communities, announced the start of preleasing at Bainbridge Winter Park, an ultra-luxury apartment community in Winter Park, Fla.

Located at 1400 Morgan Stanley Ave. near the intersection of US-17 and Lee Road, the five-tale community with a structured parking garage features 278 apartment homes and sits in the heart of the Ravaudage mixed-use development, offering residents walkable access to numerous shopping, entertainment and dining options. Bainbridge Winter Park is just 15 minutes north of downtown Orlando, and residents can delight in stress-free, one-hour trips to the coast. The community will welcome its first residents in September 2019 and will be celebrating with a ribbon cutting and private cocktail hour on Thursday, September 12, 2019. 

“We simply could not be more excited about Bainbridge Winter Park or more optimistic about its success,” said Bob Thollander, President of Development, Florida for Bainbridge. “It provides an unbeatable combination of top-tier design, best-in-class amenities and a world-class location. Residents of this community will truly experience effortless modern living.”

Among the attractions near Bainbridge Winter Park are the Park Avenue shopping, dining and entertainment district, Lake Osceola, the Charles Hosmer Morse Museum of American Art and the Downtown Winter Park Historic District, which features picturesque eateries and boutiques amidst numerous art galleries and museums. The community also is close to abundant outdoor recreation and water-sport opportunities.

Bainbridge Winter Park makes an atmosphere of extreme luxury through convenience-focused amenities such as a 24-hour fitness center featuring Peloton bikes and a 24-hour, video-monitored mail center with Luxer One package lockers. 

The community offers ample opportunities to socialize with friends, family and fellow residents with features like an indoor/outdoor club room and lanai with television and fireplace; a community lounge with a cybercafé and gathering areas; and a resort-style heated saltwater pool with sundeck and large gazebos and summer kitchens. Recognizing the unbreakable bond so many renters have with their pets, Bainbridge Winter Park also features a shaded indoor dog park and pet spa as well as an extensive outdoor dog walk. 

Bainbridge Winter Park offers spacious and sophisticated junior one-, one-, two- and three-bedroom apartment homes. In keeping with its commitment to meeting the wide variety of resident taste and preferences, the community offers three end collections: Diamond, Emerald and Sapphire. 

Throughout the apartment homes, the amenities promote ease of living and cutting-edge style. The modern kitchens feature 42-inch designer cabinets, marble backsplashes, quartz countertops, chef-inspired stainless steel appliance packages and side-by-side refrigerators with in-door filtered water. Other in-unit amenities include Nest thermostats and sleek, hardwood-style plank flooring. 

The apartment homes also have 9-foot to 12-foot ceilings, oversized walk-in closets, and double vanity options. Select homes feature oversized master showers with dual shower heads, custom built-in closet organization systems and frameless glass shower enclosures.

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ATLANTA, GA – Investors Management Group announced it has closed on a 264-unit apartment community in Duluth, Georgia, marking its eighth multifamily acquisition in the Atlanta Metro since 2013.

The property, currently known as Amber Mill Apartments, was bought for $35.1M. Completed in 1985 and located on 2906 Ancient Norcross Road, the garden-style complex features one-, two- and three-bedroom apartment homes across 31 residential buildings.

The property will receive $2.7M in capital improvements and be rebranded as Amberlake Village. Freddie Mac Green Program financing was secured through Charlie Mentzer of Capital One Multifamily Finance’s Atlanta office.

Mike Kemether and Travis Presnell of Cushman & Wakefield’s Multifamily Advisory Group Atlanta Office represented the seller, a local private investor. IMG’s team negotiated with more than 20 ownership entities and several third-party managers operating at the site to buy the multifamily asset.

Investors Management Group experienced its fastest-ever equity raise with over $13M committed within ten days of the offering release date. This comes as a reflection of the growing demand for value-add multifamily real estate investments and investor confidence in Atlanta Metro fundamentals.

CEO Neil Schimmel notes, “Healthy economic growth and attractive asset pricing have made Atlanta our most active multifamily investment market, with more than $440M in transactions completed since 2013.”

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