WASHINGTON, DC – CIM Group announced that it has bought Trellis House, a newly-constructed, 6-tale, mixed-used property in Washington, D.C.’s Shaw/U Street Corridor. The property consists of 319 residential units and approximately 11,000 square feet of ground-floor retail space.

At 907 Barry Place NW, Trellis House is situated at the intersection of two of Washington, D.C.’s most vibrant neighborhoods, Shaw and the U Street corridor, both known for their rich cultures, histories, and music scenes. Trellis House is a small walk from the area’s diverse offering of shops, restaurants, nightclubs, galleries, and music venues, and is also located adjacent to Howard University.

Trellis House is proximate to public and alternate transportation options, including the Green Line subway that provides connections to the entire Metro network. In addition, two nearby Capital Bikeshare stations will give the property’s residents access to thousands of bikes at docks across the city. The property also has direct access to a 12-acre public park with an Olympic-sized pool, track, and playground as well as tennis courts, basketball courts, and baseball fields.

Construction on Trellis House was recently completed, and its new units are ready for go-in. The property’s unit mix includes studios, one-bedrooms, two-bedrooms, and townhomes. All residences feature contemporary designs with modern finishes and fixtures as well as in-unit washers and dryers. Generous community gathering spots, amenities, and services include a 12,000-square-foot courtyard and pool deck with fireplaces and grill stations, spa-quality fitness center with spin stations and a yoga studio, club and game room, test kitchen, co-working area, rooftop observation deck, pet spa, and 24/7 concierge.

CIM has been an active owner, developer, and operator in the greater Washington, D.C. area for more than 15 years, and has developed or operated more than 4,000 residential units in the greater Washington, D.C. area. CIM was attracted to Trellis House in part because of its sustainable green building status by achieving LEED certification. Trellis House is an infill development that provides desirable new housing in a walkable area, aligning with CIM’s community focus. Since its founding in 1994, CIM has been committed to enhancing its properties by increasing sustainability, efficiency, and quality for tenants, residents, and visitors as well as improving the character and value of the communities in which it owns and operates properties.

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DENVER, CO – Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., announced the grand opening of Modera River North, a five-tale luxury apartment community located in the River North Art District just north of Downtown Denver.

Situated on the corner of 28th and Blake Street and in the growing River North (RiNo) neighborhood, the community includes 182 apartment homes, top-flight amenities and stunning views of the mountains and city skyline. Boasting a Walk Score of 87 and Bike Score of 94, Modera River North is within walking distance of downtown and all of the key attractions within RiNo.

“RiNo is one of the most exciting places in the city and we’re ecstatic to join the neighborhood,” said Brian Wynne, senior managing director of the Mountain States for Mill Creek Residential. “Whether our residents crave close proximity to downtown, a vibrant neighborhood of their own or quick access to the mountains, Modera River North will serve as one of the finest high-level options in the area. ” 

From its location at 2840 Blake Street, residents delight in commuter-friendly access within a small drive of the state’s major highways, Interstates 25 (north-south) and 70 (east-west). The community is also within a half-mile of an RTD A Line stop with a route to Denver International Airport and Downtown Denver, and just over one mile from the various transit options at Union Station.

Constructed with an industrial design to match the surrounding area and to complement both the nearby railway and the mountains to the west, the community sits within a half-mile of the South Platte River. The river, located to the southeast of the community, leads to a network of hiking trails and parks throughout the city. 

The River North Art District is a creative sector that includes some of the city’s most prominent art galleries, studios, creative spaces, restaurants, bars and breweries. The area hosts many art-focused fairs and festivals and is also home to a variety of tech and creatively focused businesses. The community also provides prime access to several major sports venues, including Coors Field (a half-mile south), Pepsi Center and Mile High Stadium. Several concert venues, including the Summit Music Hall, are also within a small drive.

Modera River North consists of studio, one and two-bedroom homes with loft layouts available. Community amenities include a deck with year-round pool, spa, cabanas and heated areas; indoor/outdoor rooftop lounge, a 24-hour club-quality fitness studio with the latest cardio and strength equipment and yoga/Pilates space with on-demand fitness classes. An expansive clubhouse includes a private conference room and complimentary Wi-Fi in social areas. Residents also have access to 24-hour self-serve package lockers and a controlled-access garage parking with electric-vehicle charging stations available. 

Apartment home interiors are equipped with eco-friendly wood plank-style flooring, elevated ceilings, Energy Star stainless steel appliances, 42-inch custom cabinets with designer pulls, quartz countertops in kitchen and bathrooms, tile backsplashes, full-size front-loading washers and dryers, large tubs and expansive closets. Homes are also furnished with several smart-home features, including Nest Learning Thermostats, LED lighting and roller shades. Select homes include a separate dining area, breakfast nook, breakfast bar and a private balcony or patio with city or mountain views. 

Including Modera River North, Mill Creek has recently developed or is developing six apartment communities in the Denver area. Others include Modera Observatory Park near the University of Denver, Modera West Wash Park and Post River North.

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CHARLESTON, SC – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, completed its fifth and sixth acquisitions of 2018 with the closing of the West Ashley Portfolio in Charleston, South Carolina. The two properties within the 300-unit, Class B portfolio have been renamed Ashford Riverview and Ashford Palmetto Square.

RADCO plans to spend over $5 million, or approximately $17,400 a unit, on capital improvements to reset the portfolio’s economic clock. With vintages spanning from 1965 to 1969, the portfolio consists of eight two- and three-tale buildings situated across two communities located less than a mile apart.

Averaging 807 square feet, the spacious garden-style apartments offer a range of one, two, and three-bedroom floor plans. The community amenities include swimming pools, leasing centers, landscaped courtyards, a community garden, dog parks, a fitness center, business center, laundry facilities, BBQ & picnic areas, elevators, and fire pits.

“Ashford Riverview and Ashford Palmetto Square are in the highly desirable West Ashley submarket of Charleston, offering a fantastic deal of opportunity and value to its residents.” said Norman Radow, founder and Chief Executive Officer of The RADCO Companies. “We are going to transform these communities with a right value-added strategy to enhance our residents’ living experience.”

Capital improvements will include significant building repairs, upgraded landscaping, HVAC repairs, major lighting upgrades, amenity upgrades, and unit renovations. These improvements, along with new management by RADCO Residential, the Company’s proprietary management platform, will transform the properties’ look and living experience.

The portfolio is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets. The communities are just minutes from Downtown Charleston and offer residents convenient access to West Ashley shopping centers.

RADCO financed the acquisition using its unique private capital platform, as well as debt furnished by SunTrust Bank. Since August 2011, the Company has raised approximately $650 million in private capital to fund its acquisitions, making it one of the largest private capital companies of its type in the nation. With this latest deal, RADCO has bought 80 properties since 2011.

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