Venterra Realty Acquires 391-Unit Botanic Luxury Apartment Community in Fast-Growing Savannah Suburb of Pooler, Georgia

POOLER, GA – Venterra Realty recently bought the Botanic Luxury Apartments community located in Pooler, Georgia. The 391-unit multi-family community is well located just minutes from Savannah, in the quick-growing suburb of Pooler, Georgia, with simple access to the Pooler Parkway and I-95.
The property consists of three midrise-style buildings, each with elevator access, and 11 buildings containing townhome or “Huge House” units that have ground floor access and attached garages. All apartments feature high-end interior finishes including stainless steel appliances, quartz countertops, garden tubs, full-size washers and dryers, and oversized closets. Some apartments offer a kitchen island, attached garage, double-sink vanities, and built-in desks.
Botanic Luxury Apartments provide renters with access to a resort-style pool area with a cabana, sun shelf, grilling area, two-tale fitness center, and yoga space, elevator service, resident lounge, private offices, and EV charging stations. Residents with pets can welcome up to 3 pets per apartment, with no weight limit, as well as delight in access to the bark park and paw spa.
Nestled among the region’s leading employers and educational institutions, Botanic Luxury Apartments offers access to Savannah-Chatham County Public School Systems, Georgia Tech Savannah, Gulfstream Aerospace Corporation, and other notable organizations. Additionally, the location is a stone’s throw from vibrant dining, premier shopping, and exciting entertainment venues, including downtown Savannah, Tanger Outlets, and various recreational spots. Venterra will implement its resident-focused programs such as the Live it. Like it. Guarantee, the 48-Hour Maintenance Guarantee, and SMARTLEASING™.
“The acquisition of Botanic Luxury Apartments marks a significant achievement for Venterra that is worth celebrating. As our first acquisition in the Savannah market, Venterra now has assets in 20 different metro areas across the country,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further grow our presence in new markets and enhance the standard of living at Botanic Luxury Apartments by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

Powered by WPeMatico

Waterford Property Company and The Vistria Group Acquires 299-Unit Axis Kessler Park Workforce Housing Community in Dallas

DALLAS, TX – Waterford Property Company, in a joint venture with The Vistria Group, announced the acquisition of a 299-unit garden style class A multifamily community located at 2400 Fort Worth Avenue in Dallas.
The joint venture bought the property, called Axis Kessler Park, in partnership with the City of Dallas Housing Finance Corporation (“DHFC”), for $67 million from the undisclosed seller. With this acquisition, the owners will immediately restrict rents for new qualified residents, converting the property into essential workforce housing.
“We are thrilled to partner with the City of Dallas and Waterford on another housing community,” said Michael Shaid, Vice President of Real Estate at The Vistria Group. “It is core to our investing and impact philosophy to make more affordable housing, building more resilient households and vibrant communities. Axis Kessler Parkwill add high quality affordable options for those who live, work, and play in Dallas.”
The property will provide a much-needed mixed income housing solution for the community. A majority of the units will be converted to essential housing for residents who make 60 to 140 percent of the Area Median Income (“AMI”). Ten percent of the units will be dedicated to residents who make 60 percent of AMI, 41 percent of the units will be dedicated to 80 percent AMI, 39 percent of the units will be dedicated to 140 percent AMI and the balance of units will remain at market rent.
“This is Waterford’s second multifamily acquisition in Dallas. Through this acquisition, Waterford is continuing its mission to pursue innovative essential housing solutions for the region,” said Sean Rawson, Co-Founder of Waterford.
Axis Kessler Park consists of large one-, two- and three-bedroom units. The property offers amenities that include a clubhouse, fitness center, business center, dog park, private garages, resort-style pool, and storage units. The community is located within the suburban neighborhood of Kessler in Dallas, strategically positioned between the thriving Bishop Arts District and Trinity Groves. These districts boast a vibrant urban community offering convenient access to retail outlets, dining establishments, and recreational facilities.
“With rents in Dallas up nearly over 20% since the pandemic started, it’s more vital than ever to figure out ways to help make more affordable housing for essential workers in the area. We are proud of our public private partnership with the DHFC in making this increasingly needed housing option,” said John Drachman, Co-Founder of Waterford.
The property primarily houses middle-income workers with the Dallas Independent School District as the top employer of property residents. Occupations for tenants at the property include healthcare and medical workers, education training and librarians, and management.
Earlier this year, Waterford, The Vistria Group, and Northern Liberties, in partnership with DHFC, bought Domain at Midtown Park, a 395-unit class A multifamily community located at 8169 Midtown Boulevard in Dallas to convert to essential housing.
Debt for the acquisition was handled by Freddie Mac through Walker & Dunlop. John Makus of CBRE represented the seller. Greystar will be the onsite property management team.

Powered by WPeMatico

Blaze Capital Partners and Partners Group Acquire 159-Unit The Aspens Verdae Active Adult Community in Greenville, South Carolina

CHARLESTON, SC – A joint venture between Blaze Capital Partners and Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, announced the acquisition of The Aspens Verdae, a 159-unit active adult community located in Greenville, South Carolina.
“The acquisition of The Aspens Verdae represents our commitment to both growing our active adult portfolio and deepening our strategic presence in the Greenville market,” said Chris Riley, co­founder and managing partner of Blaze. “The 55+ housing segment stands to benefit from exceptional fundamentals as Baby Boomers continue to seek more attractive forms of housing that offer a compelling alternative to traditional homeownership.”
The Aspens Verdae is a luxury active adult community built in 2022 within the Verdae Master Plot, conveniently located just fifteen minutes from downtown Greenville and providing residents with access to a wide array of activities, restaurants, and shopping. The property is adjacent to the Preserve at Verdae Golf Club and a small distance from Swamp Rabbit Trail, a 28-mile multi-use greenway that follows the Reedy River.
The Aspens Verdae provides residents with comprehensive programming ranging from fitness classes to group activities, as well as a variety of social events and gatherings. The property offers several leading amenities, including an outdoor heated pool, fitness center and yoga studio, art room, movie theater, and resident lounges. Units span a variety of one- and two-bedroom floorplans and feature luxury vinyl plank flooring, granite countertops, stainless steel appliances, walk-in showers, and full size washers and dryers.
“Our acquisition activity has increased over recent months as we have begun to find more compelling investment opportunities that align well with our focus of generating attractive returns to our investors by delivering exceptional living experiences to our residents,” added Eddy O’Brien, co-founder and managing partner of Blaze. “We have been and will continue to be one of the most active buyers in the active adult segment building off our experience and long-history in the space.”
“Greenville’s strong demographics and notable supply constraints align with our thematic investing approach around differentiated opportunities for accessing demographic shifts occurring in the U.S.,” said Eric Shepsman, Managing Director, Real Estate Americas, at Partners Group. “Blaze’s expertise in the active adult space and investment approach aligns with our view on driving additional value through transformational business plans. Blaze has been an brilliant partner to work with and we look forward to executing our business plot.”

Powered by WPeMatico