ATLANTA, GA – GPC Partners, a diversified Miami-based real estate partnership, completed the successful $66.25 million acquisition of the 222-unit Ayla on Krog apartment community in Atlanta’s Inman Park neighborhood.

Built in 2015 with a mix of one and two-bedroom apartments, Ayla on Krog is located on three acres along Atlanta’s BeltLine at 44 Krog St. NE. The community is waking distance from the Eastside BeltLine Trail and the well loved Krog Street Market, a West Coast-style food hall with more than 20 shops and restaurants.

The Ayla on Krog acquisition closed on June 17. GPC obtained a $42 million loan from an insurance company as part of the transaction. JLL arranged the financing on behalf of GPC.

“We are thrilled to own a generational asset like Ayla on Krog,” said GPC Principal Leo Ghitis.

“Given the scarcity of Class A multifamily communities located directly on the East Side Beltline Trail, we feel that the property should provide brilliant long-term appreciation,” added GPC Principal Jonathan Ghitis.

Miami-based development company GPC Partners has an enviable 20-year track record of outstanding returns in commercial real estate. Active across every major real estate asset class, GPC is committed to the highest standards of both performance as well as integrity.

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PHOENIX, AZ – WhiteHaven Capital announced the acquisition of 164-unit Ridgepoint Apartments. This is the third acquisition in the Phoenix metro in the past year for the company, with plans to build a portfolio of approximately 1,000 units in the market by 2020.

Phoenix is the fifth largest city in the country, and the MSA is the second fastest growing large city. It’s located in Maricopa County, the fastest growing county for the last three years. “Phoenix has the highest rent growth in the country, the second highest job growth, and the second highest income growth. This city has all of the fundamentals necessary for investing in multifamily,” said Sam Grooms, Managing Partner of WhiteHaven Capital.

Ridgepoint Apartments are located in Glendale, a rapidly growing Phoenix suburb. Glendale is the site of two major sports venues, State Farm Stadium and Gila River Arena. State Farm Stadium is home to the Arizona Cardinals of the NFL. Since opening in 2006, the stadium has hosted multiple Super Bowls, College Football Championships, and an NCAA Basketball Final Four. Gila River Arena is home to the Arizona Coyotes of the NHL.

“We like what’s happening in this area, and we’re excited to be a part of it,” said Sam Grooms. The new owner, in collaboration with the area’s premier property management provider, Shelton Residential, plot to completely renovate and rebrand the property, offering residents additional amenities not currently available in the submarket.

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NEW YORK, NY – Shorewood Real Estate Group, an industry-leading, multi-strategy real estate investment firm, announced a $155 million Opportunity Zone partnership with Bridge Investment Group LLC and Capricorn Investment Group LLC. The partnership, which brings together three leaders in the Opportunity Zone space, will develop a 315-unit rental project in Jamaica, Queens.

“We’re excited to align ourselves with such distinguished partners on this vital project,” said Shorewood President and CEO S. Lawrence Davis. “With our firms’ combined experience in urban real estate, I’m confident this partnership will have a positive impact in Jamaica and other future community development projects.”

Bridge Investment Group and Capricorn Investment Group are prominent investment firms with substantial assets under management and a focus on sustainable investments. Bridge Investment Group is a privately-held real estate investment management firm with $16 billion in assets under management.  Capricorn Investment Group boasts a $5 billion multi-asset class portfolio that focuses on sustainable investments.

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