BATON ROUGE, LA – Landmark Properties, a fully integrated real estate firm specializing in the development, construction, investment management, and operation of high-quality residential communities, has bought The Lodges at 777, in Baton Rouge, LA. The Lodges at 777 is Landmark’s second acquisition in Baton Rouge and adds 1290 beds and 382 total units to the growing Landmark portfolio.
Constructed in 2011, The Lodges at 777 is currently 100% preleased for the fall 2023 term and is a top choice for LSU students who are looking to live close to campus in a cottage-style product with more living space and top-tier amenities.
“We’re excited to add The Lodges at 777 to the Landmark portfolio,” said Wes Rogers, Landmark’s President and CEO. “Thanks to the hard work of our acquisitions and investment team in a hard environment, Landmark is still acquiring attractive student properties at top-tier universities across the country.”
The Lodges at 777 offers many resident amenities including a resort-style swimming pool with poolside cabanas, a two-tale clubhouse with gaming areas and areas for studying, and a large fitness center including Fitness-On-Demand and a Yoga Studio. The community’s units feature contemporary furnishings, granite countertops, and stainless-steel appliances. These top-of-the-line features and amenities allow the property to stand out from other student focused assets in the area.

Powered by WPeMatico

PHOENIX, AZ – WhiteHaven, a private equity real estate firm specializing in multifamily housing in Greater Phoenix, announced the acquisition of Clarendon Park Apartments in Phoenix. At takeover the property rebranded to Haven at Midtown. The community was bought for $37 million and is WhiteHaven’s ninth acquisition in Arizona.
“We are thrilled to have had the opportunity to source this attractive investment through our network of top brokers across the Phoenix MSA,” said WhiteHaven principal Sam Grooms. “Given WhiteHaven’s history of seamless transaction execution, our firm was invited to pre-empt the marketing process and worked expediently to do the acquisition in what has been a challenging capital markets environment. This property is an ideal addition to WhiteHaven’s portfolio due to its location, vintage, unit mix, and heavy value-add potential. Following a full-scale renovation, we believe this community will appeal to a wide range of tenant profiles, ensuring strong investment returns for our partners.”
Haven at Midtown was built in 2002 and features 138 studio-, one-, and two-bedroom units. The ample community amenities include a resort-style pool with a grilling area, a state-of-the-art gym, a dog park, garages, and covered parking. The property benefits from the redevelopment of the area with the revitalization of Park Central, the addition of Creighton University’s medical campus, and Dignity Health’s corporate office, all which have led to the area’s recent designation as a bioscience hub.
“The growth in the area has contributed to an evolution of the tenant base, yet Haven at Midtown has not seen any meaningful upgrades since being built and currently is not able to successfully fulfill tenant expectations. WhiteHaven’s preferred execution of heavy programmatic value-add will include upgrading unit interiors with new high-end cabinets, luxury appliances, flooring, and fixtures. We further plot to add electrical vehicle charging in the garages. The midtown area has become an exceptionally desirable and highly amenitized destination for young professionals, and we look forward to participating in the continued growth momentum in the area over the coming years,” said WhiteHaven principal Ben Leybovich.
WhiteHaven’s recent acquisition highlights the company’s investment strategy of purchasing core plus assets in desirable locations and performing high-end improvements to maximize the value of assets in its portfolio. WhiteHaven is entering at a low basis, far underneath replacement cost even post-renovation and targets improving the net operating income at the asset by over 50% in the first three years of ownership.

Powered by WPeMatico

RICHMOND, VA – Capital Square Living, the wholly owned multifamily property management subsidiary of Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the assumption of management of four Virginia multifamily communities totaling 1,040 units.
The properties include Saltmeadow Bay Apartments in Virginia Beach, Virginia, and Sapphire at Centerpointe in the Richmond suburb of Midlothian, Virginia. Both communities are owned by Capital Square Apartment REIT, Inc., a private non-traded real estate investment trust sponsored by Capital Square that invests in multifamily properties primarily located in the Southeast and Texas. The remaining properties include Streets of Greenbrier Apartments in Chesapeake, Virginia, and Flats at West Broad Village Apartments in Glen Allen, Virginia, both of which are owned by Delaware statutory trusts sponsored by Capital Square.
Capital Square Living is in the process of assuming management of 45 multifamily communities comprising approximately 11,000 units owned by Capital Square’s affiliated apartment REIT, DST programs and opportunity zone funds.
“The assumption of property management by Capital Square Living gives our investors a competitive advantage over sponsors that use third party property managers because a single management team is now responsible for each property, from acquisition until disposition, with a laser focus on each asset, to maximize revenue, increase operating efficiency and reduce unnecessary costs,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Capital Square Living, which was founded in late 2022, now manages 10 residential communities comprised of 2,891 units. By Summer of 2024, Capital Square Living will manage over 45 residential communities comprised of over 11,000 units, and operate in 18 markets, spanning across six states and 25 cities. The firm provides comprehensive, state-of-the-art management services, including operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing and resident retention.
“By internalizing property management, Capital Square is providing best-in-class experience for our residents, from exceptional properties to outstanding customer service, and frankly, we are making something unique in the marketplace,” said Gus Remppies, multifamily veteran and president of Capital Square Living. “In turn, our vertically integrated business model makes tangible value for thousands of investors served by Capital Square.”
Saltmeadow Bay Apartments, located at 757 Saltmeadow Bay Drive, is comprised of four four-tale residential buildings with one-, two- and three-bedroom floorplans across 229 units, ranging in size from 866 square feet to 1,598 square feet. The gated community is within walking distance of Virginia Beach and features a resident clubhouse, controlled-access buildings, elevator-serviced buildings, a resort-style swimming pool, 24-hour fitness center, dog park, onsite storage and covered parking and garages.
Sapphire at Centerpointe, located at 14250 Sapphire Park Lane, was constructed in 2020 and features 192 units with one-, two- and three-bedroom layouts. Community amenities include a resort-style pool, expansive sundeck, pocket parks and a 24/7 fitness center with state-of-the-art cardio and weight training equipment. Additional amenities include quick-charge electric car charging stations, a 24/7, video-monitored package room, a fenced dog park and garage parking.
Streets of Greenbrier Apartments, located at 929 Wintercress Way, was constructed in 2013 on 13.78 acres of land. The community consists of 280 units across nine residential buildings, including studio, one-, two- and three-bedroom layouts ranging in size from 516 square feet to 1,286 square feet. Community amenities include pocket parks with covered swings and grilling stations, a sun deck with Wi-Fi access, a grand oasis-style pool, 24-hour fitness center, poolside grilling area, an outdoor poolside fireplace and TV, as well as a fireplace lounge. Additional amenities include a billiards area, dog park, picnic area near a pond, a free car wash/car vacuum station, valet waste service and onsite recycling.
Flats at West Broad Village Apartments, located at 3930 Wild Goose Lane, is a 339-unit multifamily community situated on approximately 4.86 acres of land and features approximately 9,000 square feet of amenity space, including a state-of-the-art fitness center, a package locker room, co-working areas, a coffee bar, a lounge as well as numerous restaurants and a hotel. Additional amenities include catering space, meeting rooms, a resort pool with sundeck and cabanas, a grilling station with a covered lounge area, a billiards room with outside firepits and a movie theater with stadium seating.

Powered by WPeMatico