Greystar Launches New Renting Experience with 378-Unit Ltd. Med Center Apartment Community in Texas Medical Center District

HOUSTON, TX – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced that go-ins begun at Ltd. Med Center.
“We’re excited to welcome residents to Ltd. Med Center and what it means for Houstonians,” Brian Herwald, Managing Director, Development at Greystar. “We have reinvented renting by making the leasing and renewal processes much simpler. We want our residents to live simply and simply live, which they can do here at Ltd. Med Center. We’ve seen an incredible and consistent response since we opened the doors in early March, which just goes to show that there is strong demand and an unmet need for this new type of product.”
Ltd. Med Center features a pressure-free leasing process that includes self-guided or virtual tours and limited rent increases. Renewals will be capped at 3 percent or tied to the 12-month change in the Consumer Price Index, whichever is greater, so residents will always know what their renewal rate will be months in advance. The community’s purpose is to provide lower rents for Houstonians in quality housing.
The community has two base floorplans available in one- and two-bedroom layouts. This uniform design allows for quicker construction that keeps costs—and rents—lower than typical multifamily building projects. The leasing process has also been streamlined and can be completed quickly.
Ltd. Med Center residents can delight in additional options like a personal garage, reserved parking and storage units. Apartment homes have convenient keyless door entry, app-enabled thermostats in each as well as access to community-wide Wi-Fi, Fetch package delivery and valet trash service.
The community is conveniently located near the Texas Medical Center (TMC) and NRG Stadium in an area that is ready to grow as TMC starts to expand its footprint.

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MG Properties Expands Colorado Presence with $67.15 Million Acquisition of 204-Unit Ridge at Castle Rock Apartments in Denver Submarket

CASTLE ROCK, CO – MG Properties, a private San Diego-based real estate investor, owner, and operator, is further expanding its presence in Colorado, announcing the acquisition of Ridge at Castle Rock Apartments. Formerly known as Springs at Castle Rock, MG Properties bought the property from Continental Properties for $67,150,000.
Offering one, two, and three bedroom apartments and lofts, Ridge at Castle Rock is a 2019 garden-style asset with contemporary finishes, attractive amenities, and functional floorplans.
The community is located in Castle Rock, an affluent and rapidly growing submarket between Denver and Colorado Springs. The Property is conveniently located within The Meadows Masterplan Community, offering residents access to a wide variety of retail and lifestyle activities and is approximately 10 miles south of Denver’s largest employment hub.
“This acquisition will allow us to further expand our operational presence in the Denver market,” said MG Properties President Jeff Gleiberman. “We believe this submarket is ideally positioned to benefit from the region’s continued growth.”
The seller, Continental Properties, was represented by David Potarf, Dan Woodward, Matt Barnett, and Jake Young of Walker & Dunlop. The property was financed with a mortgage provided by Fannie Mae and arranged by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

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Mill Creek Residential Announces Start of Construction at 210-Unit Modera Pomona Apartment Community in Los Angeles

POMONA, CA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the construction process is underway at Modera Pomona, a contemporary apartment community in Los Angeles County, which first broke ground in January.
The gated community, which will feature 210 apartment homes and a deluxe package of amenities, is situated on the southeast corner of N. Towne Avenue and E. Bonilla Avenue in Pomona. The strategic location approximately midway between Los Angeles and San Bernardino will position residents in a secluded neighborhood within 10 minutes of a key transportation hub.
“Modera Pomona will offer residents a small bit of everything, from a scenic-yet-commuter-friendly location to amenity spaces that will enable them to relax and recharge,” said Himanshu Brahmbhatt, vice president of development in Southern California for Mill Creek. “We believe the community’s modern, comfortable design will make a friendly atmosphere for a wide variety of residents, and we look forward to offering a best-in-class experience in the neighborhood.”
Three of LA’s primary thoroughfares intersect the area—Interstate 10, Route 57 and Route 71—providing connectivity to the greater metropolitan area. The nearby Pomona (North) Metrolink Station and Montclair TransCenter offer additional commuter options. Within the neighborhood, residents will have access to Montclair Place, a 1.2 million-square-foot regional mall anchored by Nordstrom, one of only two Nordstroms within the Inland Empire.
The area’s prominent employment market features Pomona’s thriving educational hub, which includes California State Polytechnic University, Pomona (Cal Poly Pomona) and Western University of Health Sciences. The prestigious Claremont Colleges, which combine for more than 10,000 students, are located within a 10-minute walk from the community.
Modera Pomona will offer studio, one- and two-bedroom homes with den layouts available. Community amenities will include a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, hot tub and spa, landscaped courtyards, resident clubhouse, game room, Ping-Pong table, Bocce ball court, conference room, coworking spaces and a club-quality fitness center with cardio equipment, TRX system and yoga/Pilates studio. Residents will also have access to Amazon package lockers, EV charging stations, controlled-access garage parking and several pet-friendly features, including a dedicated dog run, pet park and pet spa.
Apartment homes will include nine-foot ceilings, wood plank-style flooring, energy efficient stainless-steel appliances, quartz countertops, tile backsplashes, kitchen islands, 42-inch custom cabinetry, walk-in closets, in-home washers and dryers, built-in shelving and private patios or balconies. Bathrooms will include soaking tubs, backlit mirrors, double vanities and linen closets. The smart home package will include mobile app entry, programmable thermostats, controlled guest-access technology and bulk Wi-Fi. The community will also feature a variety of native and drought-tolerant vegetation throughout that help conserve water.
Modera Pomona marks Mill Creek’s first development within Pomona, although the company has developed and bought several assets in the greater Southern California market.

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