CHARLOTTE, NC – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in collaboration with Canyon Partners Real Estate (Canyon) and CIBC Bank USA, has officially broken ground on South Tryon, a market-rate community that will bring 310 apartments to Charlotte s rapidly growing South End.
Canyon has provided a preferred equity investment to support the development of 3310 S. Tryon Street in conjunction with a senior construction loan from CIBC. South Tryon will be Canyon s 7th preferred equity transaction with NRP. The five-tale development will include a mix of one-, two-, and three-bedroom apartments. Den floor plans will be available for one-bedroom units to accommodate post-pandemic work-from-home trends.
We are thrilled to bring this community to the vibrant South End neighborhood, which is quickly becoming one of Charlotte s premier entertainment and business districts, said Jason Mochizuki, Vice President of Development at The NRP Group. NRP is grateful to have exceptional partners in Canyon Partners and CIBC that are committed, trusting, and believe in making best-in-class housing for a growing number of residents in the community.
South End is quickly becoming one of Charlotte s preferred urban office cores, due to the proximity of lifestyle amenities and accessible parking options. As such, companies including Lowe s, Lending Tree, DFA, and Allstate, have over 2.2 million square feet of office and 371,000 square feet of retail plotted or under construction that will add to the existing 3.5 million square feet of office and 1.9 million square feet of retail.
In addition to ample employment opportunities, South Tryon will offer working professionals an simple commute to even the furthest of employment centers through its close proximity to the New Bern Light Rail Station and I-77, both a half mile away. Residents will also be less than five miles from the Charlotte Douglas International Airport and the Uptown and South Park neighborhoods.
A variety of activities found in the bustling South End neighborhood will be located less than a mile away from South Tryon, ideal for those who delight in walking or biking to local attractions and small businesses. Residents will easily experience all that Charlotte has to offer, with exciting nightlife and live entertainment, trendy retail and dining options, the city s iconic Rail Trail, renowned art galleries, and full-service grocers, all a small distance from the community.
South Tryon will offer residents a variety of amenities, including a movie and fitness center, co-working area, indoor bike room, club room and social area, dog wash and park, swimming pool, courtyards, and an outdoor dining and cooking area.
Canyon specializes in financing transitional real estate across asset classes, including ground-up development, lease-up projects, refinancings and recapitalizations. The firm has invested approximately $5.6 billion of debt and equity capital across more than 200 transactions over the last 10 years.
The NRP Group expects South Tryon, its seventh community in the Charlotte area, to be completed in 2025.

Powered by WPeMatico

STAMFORD, CT – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and asset manager, announced the start of leasing at The Smyth, a luxury mixed-use apartment community that represents the Quarterra’s first development in Connecticut.
Located at the intersection of Tresser Boulevard and Washington Boulevard in Stamford’s Downtown, the 17-tale high-rise features 414 apartment homes and more than 19,000 square feet of retail space. The Smyth will serve as a haven in the hybrid workplace with mezzanine-level co-working spaces that include private offices and conference capabilities. First go-ins are anticipated in February.
“Stamford is one of the most charismatic locales in the Northeast, and we look forward to joining the dynamic city,” said Greg Belew, Divisional President of the New York/Tri-State area for Quarterra. “Our center-of-town location will place residents within steps of everything they might need, and we believe The Smyth’s thoughtful design and array of deluxe amenities will provide a top-of-market experience in the neighborhood.”
The Smyth features a modern industrial chic aesthetic and includes four tales of garage parking, including one underground level. Its centralized location at 100 Tresser Boulevard provides residents with access to several shopping, dining and nightlife options. Positioned along an active streetscape, Columbus Park, Summer Street’s restaurant row, The Palace Theater, Stamford Center for The Arts and Mill River Park are all located a small distance from the community.
The Smyth offers commuter-friendly connectivity to several notable locales, as residents are within a small drive of Interstate 95, U.S. Route 1 and Merritt Parkway. Additionally, the nearby Stamford Transportation Center offers Metro-North and Amtrak railroad services. New York City is positioned less than 40 miles to the southwest, an simple commute for residents of The Smyth. Stamford’s own job sector includes several Fortune 500 companies and a vast mix of finance and real estate, technology, management and consulting, digital marketing and healthcare opportunities.
The Smyth features studio, one-, two- and three-bedroom homes with select den layouts and two-tale penthouses available. Apartment interiors are equipped with quartz countertops, stainless-steel appliances with gas ranges, hardwood-style flooring, kitchen islands with pendant lighting, custom cabinetry with under-cabinet lighting, walk-in closets, walk-in showers and bathroom cabinets with high-end finishes.
A landscaped rooftop deck highlights The Smyth’s suite of common-area attractions and includes a resort-style pool, sundeck, cabanas, outdoor lounges with fire pits and barbecue grills, all with expansive views of Stamford and Long Island Sound. Additional community amenities include a club-quality fitness center with yoga/spin room featuring lululemon Studio Mirrors, a resident club lounge with catering kitchen and game tables, multi-sport golf simulator, coffee bar, media room/lounge, demonstration kitchen and a dog run with dog washing station. Residents can also utilize dry cleaning drop off, Parcel Pending™ package lockers, bike storage, a bike repair shop and rentable storage units.

Powered by WPeMatico

DALLAS, TX – CMCT announced that it is expanding its multifamily portfolio with the plotted addition of 696 apartment units across three assets. The acquisitions advance CMCT s strategy to focus the portfolio on highly amenitized premier multifamily and creative office assets in dynamic, high barrier to entry markets.
CMCT intends to buy an interest in the 75-unit Parkview Apartments located at 1902 Park Avenue in the Echo Park neighborhood of Los Angeles. The transaction is anticipated to close in mid-February. Parkview Apartments is located adjacent to 1910 W. Sunset Blvd., an eight-tale creative office property that was bought by CMCT in February 2022.
In Oakland, CMCT is under contract to buy Eleven Fifty Clay, at 1150 Clay Street, a 16-tale apartment building offering 288 market-rate residences. The acquisition is anticipated to close in late March. On January 31, 2023, CMCT closed on the acquisition of Channel House, a 333-unit, eight-tale apartment building at 40 Harrison Street.
CMCT believes it has an attractive pipeline of multifamily development opportunities, representing over 1,500 units. CMCT intends to leverage its sourcing, distribution and development capabilities to grow its multifamily portfolio by making property level equity investments alongside co-investors. CMCT believes this asset-light approach, whereby CMCT may earn fee income and potentially a percentage of profits, is a compelling model for CMCT that will contribute to strong returns on invested capital.

Powered by WPeMatico