RICHMOND, VA – Capital Square 1031, a leading real estate investment and management firm specializing in Delaware statutory trust (DST) offerings, announced the acquisition of a 294-unit multifamily community in Richmond, Virginia, for CS1031 Hickory Creek Apartments, DST, a Reg. D investment offering.

“Hickory Creek Apartments is well located near Capital Square’s headquarters and benefits from its proximity to extensive employment, retail and recreation options,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Multifamily communities such as Hickory Creek Apartments are a growth investment because Capital Square 1031 is able to raise rents annually and grow the net operating income over the holding period. We are pleased to add this quality property to our growing investment portfolio, the 74th property Capital Square has bought.”

Located at 2344 Hickory Creek Drive, Hickory Creek Apartments is comprised of 19 residential buildings and a clubhouse with a leasing office. Situated on 20.40 acres of land, the community includes one- and two-bedroom floorplans ranging in size from 830 square feet to 1,030 square feet. Community amenities include a swimming pool with sundeck, fitness center, lighted tennis courts, car wash area, sauna, dog park, optional reserved carport parking, Verizon FiOS and 24-hour emergency maintenance.

“Hickory Creek fits well with Capital Square’s multifamily investment strategy of purchasing geographically desirable and well-maintained assets in growth markets that offer value-add upside through interior unit and common area renovations,” said Whitson Huffman, senior vice president of acquisitions. “The property benefits from its proximity to West Broad Village and Small Pump Town Center, featuring over 5.5 million square feet of retail and employment centers, including the Innsbrook Office Park, which has over 8 million square feet of office space that is home to over 400 companies and 20,000 employees.”

Originally constructed in 1984, the community had more than $2 million in capital improvements invested in it by previous ownership since 2016.

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NEW YORK, NY – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing properties, announced the acquisition of the 266-unit 800 Sixth Avenue on behalf of its real estate funds. The asset, located in the sought-after NoMad neighborhood of Manhattan, represents an opportunity for Greystar to buy an optimally located, under-improved value-add asset in one of New York City’s most desirable submarkets.

“The acquisition of 800 Sixth complements Greystar’s strategy of acquiring high-quality assets where we can add value through renovation upside and operational improvements in highly desirable submarkets like NoMad, where demand remains high and supply is tight,” said Kevin Kaberna, Executive Director and leader of Greystar’s U.S. Investment platform. “This property has seen minimal improvements over the years, which presents an opportunity for us to complete significant renovations to compete with luxury new construction in the area while keeping post-renovation rents below our primary competitors.”

Completed in 2003, 800 Sixth is located in Manhattan’s trendy NoMad neighborhood, a supremely well-located submarket that provides simple access to major employment centers including Silicon Alley, which is home to major tech firms including Google, Facebook, Twitter, and IBM,– who together account for approximately 3.6 million square feet of office space and also to Grand Central, Hudson Yards, the World Trade Center, and Penn Station. The neighborhood boasts a walk score of 100, with major shopping districts, dining, nightlife and recreation options all located within walking distance of the property. The asset is also located in close proximity to all of New York’s major subway lines and provides ease of access to New Jersey via the PATH.

Greystar’s capital improvement plot will include comprehensive updates to residences, including replacing dated appliances and cabinets and upgrading finishes including lighting, plumbing and hardware fixtures. Greystar will also overhaul the building’s common areas and amenity spaces – which include a fitness center, a sky deck, and a resident lounge with a chef’s kitchen and billiards room.

As the nation’s largest apartment operator with approximately 500,000 units under management, Greystar currently owns more than 200 units in the neighborhood and manages over 3,100 more in Manhattan. Greystar will continue to leverage its local market expertise and deep industry relationships to identify attractive investments and management opportunities throughout the New York area.

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SCOTTSDALE, AZ – Multifamily Leadership, producers of the two highest-level events in the industry, the Multifamily Leadership Innovation Summit and Multifamily Women’s Summit, announced today a new, industry-first streaming platform for subscribers to gain previously untapped access to original content and shows across the topics of innovation, technology, and leadership. 

The platform, MultifamilyStudios.com, will feature live event recordings, product launches, and real tales from some of the most innovative minds in our industry. Showcasing original content across an array of emerging topics, subscribers will have access to inspiring and authentic tales from key innovators that cannot be found elsewhere. The platform is designed to help career-minded professionals, executives, managers, and forward-looking leaders gain access to thought leadership lectures and materials from anywhere and on any device. 

“The conference model has not changed over the last 50 years,” clarified Patrick Antrim, CEO of Multifamily Leadership. “But, it desperately needs to since it is impossible for busy choice-makers to attend every association meeting, product demo, trade show, and industry conference. In fact, many vendors continue to participate in these events, despite experiencing poor results, rising costs, and favoritism over exhibit space positioning. Just as Netflix challenged an industry that did not innovate quick enough to survive, we plot to change the game within the multifamily housing sphere, making these resources affordable and accessible to all.” 

Leveraging content from a variety of sources, MultifamilyStudios.com will feature individual channels that will showcase a number of topics, such as recruiting, employee retention, and general behind-the-scenes insights into the methods leading property management companies utilize. There will even be exclusive content included from MFL’s annual summits: The Multifamily Leadership Innovation Summit and the Multifamily Women’s Summit. The streaming platform places subscribers in the room with keynote speakers, panels, and sessions that typically run concurrent at traditional conferences, allowing attendees of these virtual resources to have access to all of the material they desire, as opposed to making a forced choice between panels and missing information vital to their operations. 

Antrim added, “Technology is advancing at a rapid pace, and industry innovators just can’t wait for the next conference that will introduce a cutting-edge, new product. But, with more businesses refraining from attending traditional conferences, this new streaming service is a groundbreaking product for many multifamily leaders—simply because there is no other platform on the market designed to reach choice-makers so seamlessly. In addition to providing high quality content that is frequently updated, we are also introducing a new way for brands to launch products in the multifamily marketplace. This platform will allow innovation to flow, unrestricted from high sponsorship fees and competition with huge budget incumbents. It’s time we bring different innovators of the industry together in a more meaningful and honest partnership.” 

MultifamilyStudios.com streaming binge worthy content is now available for subscription. 

MultifamilyStudios.com is an industry-first streaming platform, exclusively serving the multifamily housing marketplace. The platform allows subscribers to consume a wide variety content, from exclusive interviews and conference sessions to product launches. Designed to accelerate thought leadership throughout the industry, the streaming platform opens the doors to authentic tales from key innovators that cannot be found elsewhere, while replacing the current and ineffective conference model. For more information, please visit MultifamilyStudios.com

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