MILWAUKEE, WI – USG Realty Capital, a leading investment sponsor specializing in opportunity zones, announced the commencement of its newest ground-up opportunity zone project for Investors Choice OZ Fund, Elevation 1659, in Milwaukee, Wisconsin. The 76-unit multifamily community is being developed by Ogden & Company, Inc. Elevation 1659 is scheduled for completion in September of 2023.
“Elevation 1659 is located in one of the top opportunity zones in the country with one of the strongest social impact studies directly related to this project,” said Greg Genovese, CEO and founder of USG Realty Capital. “It’s always a huge day when we break ground on a new project, and our developer partner, Ogden & Co., has been wonderful to work with. We look forward to Elevation 1659 becoming a huge success for all our investors and a fantastic new addition to this Milwaukee neighborhood, making an exceptional positive social impact for the community.”
Elevation 1659 is located one mile north of downtown Milwaukee in an up-and-coming neighborhood where many investors and companies are searching for affordable, urban-oriented commercial and multifamily projects. According to Smart Growth America, the project’s Milwaukee census tract currently ranks in the top 40 qualified opportunity zones in the U.S. In addition, data compiled by DRC Impact Reporting shows the Milwaukee metropolitan area ranks better than 66% of major U.S. cities in terms of housing affordability, and wealth building for longtime residents is predicted to increase for the local and surrounding regions.
“We are very excited for Elevation 1659’s construction to start,” said Jason Pietsch, Ogden’s real estate investment specialist for the project. “In the coming days and weeks, tree removal, building demolition, and subsequent site prep will commence. These initial steps will lay the foundation, quite literally, for the rest of the project – a project we believe will be among the premier Class A apartment buildings in the Milwaukee market.”

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DALLAS, TX – Cove Capital Investments, a DST Sponsor Company specializing in debt-free Delaware Statutory Trusts (DSTs) and other investment offerings for accredited investors, announced it has completed the buy of a 159-unit, 130,128 square foot value-add multifamily community in the growing Dallas Fort-Worth area.
The investment will be part of the “Cove Dallas Multifamily 59 DST”, a Regulation D, Rule 506c offering, which will allow accredited investors to participate in the acquisition of a multifamily community with value-add potential located just 20 minutes from revitalized downtown Dallas that sees more than 135,000 employees on a daily basis.
“The Cove Dallas Multifamily 59 DST is an attractive apartment community in the Dallas Fort Worth region of Texas that provides investors the opportunity to participate in a debt-free DST investment that has the potential for making significant value. The previous owners recently invested more than $1.5 million in capital improvements to approximately 50% of the units. Now Cove Capital will continue to provide extensive renovations, including adding new quartz countertops, stainless steel appliances, upgraded plumbing and lighting fixtures and adding carports to cover approximately 100 cars,” said Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments.
Built in 1983, the two-tale community features one-, two- and three-bedroom floorplans across 16 buildings. Common-area amenities include a swimming pool, a fitness center, a business center and laundry facilities.
According to Managing Member and Co-Founder, Chay Lapin, the Cove Dallas Multifamily 59 DST represents an brilliant example of a value-add DST investment opportunity for Cove Capital investors.
“As a proactive owner-operator, Cove Capital will be able to potentially provide value to our investors through implementing a renovation plot that includes upgrading both interiors and exteriors, and driving operational efficiencies to help maximize revenue potential,” said Chay Lapin, Managing Member and Co-Founder of Cove Capital Investments.
Located at 1255 West Pleasant Road, the community is roughly 15 miles south of downtown Dallas. Pleasant Creek sits in proximity of interstates 35 and 20, as well as Texas State Highway 342, offering access to several dining, shopping and entertainment options. Northrup Grumman Systems, Dallas Boss Truck Stop and FFE Logistics are some of the employers in the area.
Lapin continued, “The Cove portfolio now consists of more than 1.5 million square feet of multifamily, industrial, medical and net lease assets. We are thankful to the hundreds of loyal Cove clients as well as the many Broker Dealers, Registered Representatives and RIAs that have placed their trust in Cove Capital.”

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ALEXANDRIA, VA – Bonaventure, an integrated alternative asset manager focused on the development, construction, and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, announced that it bought ownership in two multifamily properties in separate UPREIT transactions.
Through these separate strategic off-market buys, Bonaventure expands its footprint in Virginia with the additions of the 296-unit Pinnacle Apartments located at 600 Freeman Drive in Hampton; and the 185-unit Magnolia Chase Apartments located at 5700 Magnolia Chase Way in Virginia Beach.
We are pleased to become the new owner and manager of two exceptionally well-located, income producing multifamily communities in our home market, said Dwight Dunton, founder and CEO of Bonaventure. These acquisitions not only align with our Mid-Atlantic growth strategy, but they also further demonstrate Bonaventure s unique ability to engineer deals that offer superior flexibility and tax-advantaged benefits to our partners.
The additions of Pinnacle Apartments and Magnolia Chase Apartments bring Bonaventure s total number of lifestyle-centric properties in Virginia to 28. At Magnolia Chase Apartments, Bonaventure plans to buy 24 additional units that are currently under construction later this year. This property is situated adjacent to three other multifamily communities that Bonaventure currently owns and operates (The Cascades, Infinity at Centerville Crossing and Magnolia Run Apartments), providing it with significant scale in the quick-growing Hampton Roads submarket.
Details on the newly bought multifamily communities can be found below:
Pinnacle Apartments: Built in 2016, the mid-rise apartment community is located in the Coliseum Central neighborhood in proximity to I-64 and Peninsula Town Center. It offers one-two and three-bedroom units with high-end features and a wealth of amenities including a resort-style pool and 24-hour fitness center.
Magnolia Chase Apartments: Completed in 1999, the amenity-rich, garden-style luxury apartment complex features one-two and three-bedroom units as well as a pool and lounge area, 24-hour fitness center, playground and club house.
Since its inception in 1999, Bonaventure has established itself as one of the most prolific multifamily developers and operators in the Mid-Atlantic region, and is currently expanding throughout the Southeast. Its portfolio includes a mix of affordable, luxury and senior living communities.

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