INDIAN LAND, SC – Canyon Partners Real Estate announced that it has provided a $14.8 million preferred equity investment in a joint venture with The Widewaters Group for the development of Parkstone at Indian Land, a Class-A, 266-unit, garden style residential community in Indian Land, S.C. Widewaters will lead development of the community, which is expected to start occupying units in late 2023, with completion in mid-2024.
The investment marks the second joint venture between Canyon and Widewaters, and Canyon’s third investment in the greater Charlotte area in the last five months. Huntington National Bank provided the senior construction loan.
Indian Land, South Carolina is a rapidly growing suburb of the Charlotte MSA, located 15 miles south of Charlotte’s central business district and five miles south of the Ballantyne submarket on the border of North Carolina. Indian Land, the northernmost community in Lancaster County, has benefitted from the growth of the greater Charlotte region. As Charlotte’s growth trajectory has expanded to the south, Lancaster County has experienced outsized population growth of 31% from 2010 to 2021. Indian Land also benefits from proximity to three major suburban employment nodes, including Indian Land, which is home to Red Ventures headquarters, Ballantyne, and Fort Mill.
“As Charlotte continues its rapid growth trajectory, we anticipate continued strong demand for multifamily housing in the city’s suburbs, including Indian Land,” said Brian Long, Director of Development at The Widewaters Group. “Parkstone will provide well-located housing for residents seeking convenient access to nearby jobs, entertainment and retail options. We look forward to partnering with Canyon once again for this project.”
Interior units at Parkstone will feature modern finishes and appliances, full size washer/dryers and balconies. The community will include an extensive amenity package, such as a dog park, pet spa, car wash, scenic pond area, 24/7 mailroom with package delivery lockers, 24/7 fitness center and resort style pool.

Powered by WPeMatico

IRVINE, CA – The Bascom Group in partnership with Artemis Real Estate Partners has bought Avenida Lakewood, a 230-unit Active Adult (55+) apartment community located at 11001 West 15th Place in Lakewood, Colorado. The Class A property marks Bascom’s 36th multifamily acquisition in Colorado. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, and Jake Vitta of IPA arranged the debt financing for the acquisition from Santander Bank. Apartment Management Consultants will provide property management services.
Situated just seven miles west of Downtown Denver, Avenida Lakewood was constructed in 2019 by Avenida Partners, a prominent builder that specializes in developing Active Adult communities. The property is a highly-amenitized community that boasts extensive indoor and outdoor spaces including a clubhouse, game room, arts studio, theater, salon, pool and spa, fitness and yoga studios, gardening plots, a sky lounge, EV charging stations, and a pet park. Unit interiors feature high-end finishes with quartz countertops, stainless steel appliances, oversized cabinetry, custom lighting, and faux wood flooring. In addition to its abundant amenity offering, the property offers residents a variety of activities, such as social functions, fitness classes, and creative arts and educational programs, that are designed to foster a sense of community and enhance residents’ quality of life. Making a best-in-class lifestyle distinguishes Avenida Lakewood from other Active Adult communities in the Denver Metro Area.
The property also provides residents access to abundant recreation, retail, and entertainment options against the unmistakable backdrop of the Rocky Mountains. Avenida Lakewood residents can venture outside to explore over 2,400 acres of open space on nearby Green Mountain, delight in world-renowned entertainment venues like Red Rocks Amphitheatre, or wander the streets of nearby Golden, home to Coors Brewing Company and countless recreation outlets for hiking, biking, and fishing. Lastly, Avenida Lakewood is located between two of Denver’s premier medical centers, St. Anthony Hospital and Lutheran Medical Center, while also providing residents immediate access throughout Denver via the Oak Street Light Rail Station located three blocks from the property.
Bascom’s Senior Vice President & Principal of Acquisitions, Jim Singleton, shared, “Avenida Lakewood represents a highly attractive opportunity to act upon the demographic tailwinds of an aging population in a supply-constrained market. As the product of a premier national developer of Active Adult communities, Avenida Lakewood boasts thoughtfully designed amenities and best-in-class services that foster a vibrant lifestyle community for 55+ residents. These benefits provide a unique value proposition for Bascom and Artemis.”
Artemis Senior Vice President, Courtney Nickels added, “We look forward to building upon the strong momentum at the Property cultivated by Avenida Partners to continue delivering the highest level of service and quality for the residents. Artemis is pleased to grow our partnership with Bascom, a premier partner, and to continue to expand our investment portfolio in active adult.”
Since 1996, Bascom and its affiliates have bought 357 multifamily properties throughout the United States, totaling over 91,000 units. Prior to closing on Avenida Lakewood, Bascom had bought 35 multifamily properties in Colorado, totaling 11,804 units and more than $1.1 billion in acquisitions.

Powered by WPeMatico

CORAL GABLES, FL – Sunrise Senior Living, an industry pioneer and leading provider of senior living and housing services, announces the groundbreaking of its first senior living community in the Miami-metro area, Sunrise of Coral Gables.
Sunrise s personalized approach has become a gold standard for the senior living industry throughout its more than 40-year history. Sunrise of Coral Gables will continue that tradition when it opens and welcomes new residents in 2024, meeting the fantastic need for high-quality helped living and memory care in Miami Dade County. Upon completion, the more than 90,000-square-foot building will consist of 94 residences across six floors. The community will provide various lifestyle offerings for its residents including a robust events and programming calendar. It will offer perfectly designed common spaces, activity room, bistro and dining room, a salon, and dedicated terrace spaces on multiple floors.
We are thrilled to start construction on Sunrise of Coral Gables, said Andy Coelho, Senior Vice President of Design and Construction at Sunrise. We are honored to bring Sunrise s expertise in senior living to the city of Coral Gables. We also look forward to collaborating closely with the surrounding community as we prepare to welcome residents to their new home in 2024.
Sunrise s in-house development and design teams are partnering with Coral Gables-based architecture firm Behar Font & Partners and general contractor Winmar Construction.
The site for Sunrise of Coral Gables was chosen for its accessibility and convenience. On the main street of Ponce de Leon, the community has access to neighboring townships, major commuter routes and retailers, restaurants, and businesses. The Coral Gables trolley stops within one block of the site and runs frequently from the Douglas Metrorail station.

Powered by WPeMatico