PHOENIX, AZ – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of the Colter Park Apartments, a 384-unit multifamily property located in Phoenix, Ariz., for $80.75 million. Steven Vegh of Westwood Realty Associates brokered the off market transaction. Northmarq arranged a Freddie Mac senior loan on behalf of HGI led by Bryan Mummaw.
Located in the Uptown Phoenix submarket, the property is supported by strong market fundamentals, with the area featuring some of the city’s most well loved bars, restaurants and retail locations. The property sits within Camelback Corridor, a prominent shopping, hospitality and employment district.
“The acquisition of the Colter Park Apartments further represents HGI’s ability to identify unique value-add opportunities within fundamentally strong markets and continue to grow the firm’s active investment portfolio within the Sunbelt region,” said Greg Heller, Managing Director of Acquisitions at HGI. “This transaction provides significant opportunity for operational upside as we expect to see high occupancy rates and steady rent growth over the next five years in the greater Phoenix region.”
The apartment community is centrally located and easily connects residents to major employment and lifestyle nodes within the Phoenix region. The property is within a 10-minute drive of Midtown and provides direct access to the Valley Light Rail system, which will present residents additional modes of access to employment and entertainment centers including Midtown, Downtown and the Phoenix Sky Harbor International Airport. The submarket is also proximate to a range of employers such as Banner Health, the City of Phoenix, Bank of America, U.S. Bank, Uber and WeWork.
HGI plans to invest $5 million to renovate the remaining vintage units within the complex, as well as common area improvements and deferred maintenance, enhancing the community’s curb appeal. As such, the renovations will provide significant value-add and mark to market opportunity for the firm.

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DENVER, CO – Sentral, the modern property management company innovating flexible living communities throughout the United States, announced its newest collaboration with OliverBuchananGroup(OBG), Sentral RiNo, located in Denver’s River North District. Sentral RiNo will commence construction in 2023 and represents the first project undertaken as part of an exclusive partnership with OliverBuchananGroup that will develop new neighborhood-defining, multifamily communities and mixed-use projects in high-growth U.S. markets. Sentral RiNo will be the brand’s second flexible living community in Denver, joining the successful Sentral Union Station.
Situated between the vibrant RiNo Art District and Cole Historic Neighborhood, Sentral RiNo will be located at what was formerly the Denver Rock Drill site. More than 300 apartments will be developed in this exciting project’s initial phase, with further retail, office, and event space to be developed soon after. Sentral RiNo will boast European-style public areas with curved streets and courtyards, while preserving the distinctive historic elements of the Denver Rock Drill structures currently in place.
“Targeting some of the country’s highest-growth, in-demand markets has been a top priority for the Sentral brand, especially those with rich history, vibrant culture, and an array of arts, dining, and entertainment,” said Jon Slavet, Chief Executive Officer at Sentral. “The Denver RiNo neighborhood is one of the most historic areas of the city, and experiencing tremendous revival, making it a premier location for Sentral’s flexible living concept.”
The development’s location sits in one of the city’s most sought-after districts, with the highest concentrations of bars, restaurants, and breweries in Denver. Sentral RiNo will offer both designer furnished and unfurnished apartments with flexible lengths of stay, as well as best-in-class community amenities for residents and guests.
“With development of Sentral RiNo underway, we are looking forward to bringing the brand’s innovative flexible living concept to such an in-demand city like Denver,” said OBG’s Chairman Morgan Dene Oliver. “The Sentral RiNo community will be the first of many properties as part of our partnership to debut across the country, offering residents and guests deluxe accommodations, best-in-class amenities, and close proximity to the city’s most unique, vibrant local experiences. We are extremely excited to introduce this property in 2023.”
Denver is one of the leading U.S. cities for digital nomads and mobile professionals due to its appeal to nature lovers, proximity to the Rocky Mountains, favorable cost of living, flourishing art and music scene, exceptional restaurants and shops, walkable neighborhoods, and other attributes. Sentral RiNo will offer mobile professionals the best of flexible living, with perfectly-designed work and living spaces, all within walking distance of one of the city’s hippest areas.

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HOUSTON, TX – DLP Capital, a private real estate investment and financial services firm, announced that it has bought a Houston-area multifamily property, Elan Memorial Park, in partnership with Texas-based ORP Investments Inc. The mixed-use property, with 297 residential units and premium retail spaces, is located in the Neartown-River Oaks submarket of Houston, a highly desirable live-work-play environment just four miles from downtown Houston and near to Texas Medical Center. The Houston metropolitan area, the fifth largest in the U.S., experienced its best employment growth on record in 2021, adding nearly 160,000 jobs, according to the U.S. Bureau of Labor Statistics. Elan Memorial Park will be a vibrant addition to DLP Capital s investment portfolio in the region, providing further economies of scale to the firm s asset management of more than 2,500 units spread across eight properties in the broader Houston area.
Elan Memorial Park is an exceptional apartment community that adds brilliant balance to our multifamily portfolio in the Houston region, said Don Wenner, founder and CEO of DLP Capital. With strong job growth in Houston, we re bullish on the region. We have multifamily properties with a range of price points to appeal to an array of tenants in the area.
Elan Memorial Park, located at 920 Westcott Street near Memorial Park, is a nine-tale property built in 2016 and features perfectly curved exterior architecture. The property boasts a top-floor sky lounge that features panoramic views of downtown Houston along with an outdoor fire pit and grilling area. Property amenities also include a courtyard pool with coffee bar, clubhouse with gaming area, fitness center, bike storage and repair station, and indoor dog spa. Interior features include expansive living areas, 10- to 13-foot ceilings and ceiling fans, built-in desks and bookshelves, and private backyards, patios, or balconies. Residents also benefit from more than 17,000 square feet of retail spaces on the ground floor that include healthy quick dining at Rush Bowls, global cuisine at Union Kitchen, Yellow Cup coffee shop, a hair studio, nail lounge, and more.
DLP Capital and ORP Investments plot light renovations to the otherwise superior condition of the property, including exterior painting, siding updates, and landscaping improvements. The property, currently at 92% occupancy, benefits from proximity to other affluent Houston neighborhoods, with the Neartown-River Oaks submarket attracting many baby boomers seeking to downsize. Employment growth in the Houston region is expected to surpass the national benchmark over the next five years, according to the U.S. Bureau of Labor Statistics, further attracting tenants and adding to the investment attractiveness of Elan Memorial Park.
Added Raj Sarangam, founder of ORP Investments, This multifamily investment marks the first of what we hope will be many successful partnerships with DLP Capital. We re combining DLP Capital s national financial strength with our boots-on-the-ground local market expertise for a solid combination that we believe will lead to collective, long-term success.

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