SAN ANTONIO, TX – Ascend Partners announced that it has bought Lakeside Helped Living, a San Antonio senior living community, and is reopening it as The Grandview of Westover Hills, Ascend’s newest boutique senior living experience.

The Grandview of Westover Hills offers 42 helped living and 18 memory care apartments with premium accommodations, resort-style amenities, and world-class care.

Ascend Managing Partner Anand Patel said, “We are excited to reinvest in this community and bring to the people of San Antonio the same level of senior care and hospitality we deliver to all of our residents.”

The Grandview of Westover Hills provides the finest in senior living care to West San Antonio, featuring an active environment and ease of living conveniences. Amenities and services include: Private residences; Resort-quality amenities; Concierge-style services; Chef-prepared meals; 24/7 professional care; Library/business center; Family room; Activity room; Theatre; Full-service salon and Fitness center.

Texas-based Trilogy Senior Living will provide the management and operations for The Grandview of Westover Hills. “Trilogy’s one purpose is to provide the best life possible to senior residents,” Patel said. “The company brings a unique hands-on focus in providing care, one that perfectly aligns with the lifestyle we want to build at The Grandview.”

“Trilogy Senior Living is thrilled to be working with Ascend Partners to manage The Grandview of Westover Hills,” said Shawn Corzine, CEO of Trilogy Senior Living. “We had the opportunity to meet with the residents, their family members, and the associates a few weeks ago to introduce ourselves and talk about the transition. Everyone was very excited about the transition and welcomed us with open arms.”

Corzine also added: “Trilogy is excited to have the opportunity to make a difference in the lives of everyone involved at The Grandview of Westover Hills and we are looking forward to partnering in many more communities with Ascend Partners in the future.”

Ascend Partners is investing heavily in the newly rebranded Grandview of Westover Hills to “bring the property back to life,” Patel says.

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TAMPA, FL – Providence Real Estate, a multifamily owner-operator, announced the completion of the acquisition of the Park at Via Rosa Apartments located in the Brandon area of Tampa, Florida. The Property was bought in a joint venture with Aegon Real Assets US, a division of Aegon N.V., a multinational life insurance, pensions and asset management company headquartered in the Netherlands.

The property was built in 2000 on approximately 24-acres and offers residents large floorplans with private entrances and 9-foot ceilings. The property offers its residents brilliant access to the I-75 office corridor (22 million square feet of office space) and healthcare centers such as the Brandon Regional Hospital and the new TGH Brandon Healthplex. The property is anticipated to undergo extensive exterior and interior renovations and will be renamed 2211 Grand Isle.

“The acquisition of Park at Via Rosa presents a tremendous opportunity for us to reposition a nineteen-year-ancient property that will benefit from a significant renovation to enable it to provide high-quality rental housing for Tampa’s workforce. Furthermore, Park of Via Rosa represents the seventh property in Providence’s Tampa portfolio, and we continue to benefit from the broad strength of the overall Tampa multifamily market.” said Alan Pollack, Providence’s Chairman.

“This transaction leverages our experience and depth of relationships in the multifamily sector and illustrates our strategic goals to buy and improve workforce housing in select metro areas,” said Cameron Jones, Head of Real Estate Equity Acquisitions for Aegon RA.

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MILWAUKEE, WI – MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced the buy of Frederick Lofts, a 100-unit multi-family apartment complex located in The Brewery neighborhood within a half mile of the new $524M Fiserv Forum, home of the Milwaukee Bucks (NBA) and Marquette Golden Eagles (NCAA).  

MLG Capital bought Frederick Lofts off-market for $16 million. The 270,473 square foot, 100-unit property will be managed and operated by entities related to MLG Capitaland features amenities such as a resident clubhouse, fitness center, yoga room, media room, underground parking and a roof top deck with BBQ area.

“We plot to invest capital to maintain the class A interior of the 100 units, each of which has an open loft layout, fully equipped kitchen, granite counter tops, breakfast bar, walk-in closets, central air conditioning and more,” said Andrew Bruce, Executive Vice President and Principal at MLG Capital.

“There have been a number of new developments in Milwaukee that position Frederick Lofts as an ideal place to call home. The area hosts corporate headquarters of seven Fortune 500 companies and is ranked second in Fortune 500 companies per capita when compared to the ratios of the 25 largest metro-areas. In addition, the unemployment rate in Milwaukee is 3.0%, below the national unemployment rate 3.7%, the population has increased 26% and median household incomes have increased by 38% since 2000. Most impressive, perhaps, is that $1.7 billion in investment has taken place downtown in the same timeframe,” said Bruce.

Since the inception of MLG Capital in 1987, the firm, and entities associated, have had active, exited, or pending investments totaling approximately 18.3 million square feet of total space across the United States, inclusive of more than 13,200 apartment units, with exited and estimated current value exceeding $1.63 billion.

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