SANDY, UT – MAXX Properties announced the acquisition of The Ridge, a 261-unit, 4-tale luxury apartment community near Sandy Utah. The Ridge boasts commanding views of the Wasatch and the Oquirrh mountain ranges.
The Ridge offers modern one-, two-, and three-bedroom apartments. These luxury homes were built in 2018 and feature tech-forward amenities and a nod to the sustainable lifestyle Salt Lake City is known for with energy-saving appliances, LED lighting, and a bike repair station. Communal amenities include a clubhouse with a 24-hour fitness center, swimming pool, fire pit, BBQ stations, and a card-key controlled parking garage. The community is directly across the street from a lifestyle shopping complex with a half dozen upscale dining outlets as well as a state-of-the-art cinema.
Salt Lake City is often rated a best place to live thanks to quality of life factors, affordability, and booming employment sectors. Salt Lake City is also synonymous with outdoor recreation and these Sandy Utah apartments are just a 20-minute drive from world-class of ski destinations and hiking trailheads. They are also conveniently situated near Interstates 15 and 215 and just 12 miles south of downtown Salt Lake.
The Ridge is an accretive acquisition to our Salt Lake City portfolio, said Rick Wiener, Chairman of MAXX Properties. Our family business has been conducting business in Salt Lake City since the late ‘90s and Utah still has the quality of life and attraction it had a quarter-century ago. We anticipate continued strong fundamentals in Salt Lake City bolstered by a growing trend by employers and individuals alike to live and work in places connected directly to the fantastic outdoors.
The Ridge was partially capitalized through a long-term, fixed-rate mortgage loan provided by New York Life Insurance Company.

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RICHMOND, VA – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Hunter’s Chase Apartments in the desirable Chesterfield County submarket of Richmond, Virginia. The group bought the property in 2017.
During their ownership, Hamilton Zanze completed a successful unit renovation campaign, an office and gym renovation, landscaping improvements, siding replacement and paint, balcony and deck repairs, and asphalt improvements.
“Hunter’s Chase is one of our early northeast acquisitions. In a partnership with Aegon Asset Management, over $8.5 million in property improvements were completed. Some of these improvements included a property-wide siding replacement, unit renovations, club house upgrades, and full window replacements. HZ’s asset and project management teams were able to complete all property improvements within three years of acquisition,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “The Hunter’s Chase investment returns exceeded initial expectations and occurred in just five years, versus the projected 10-year hold period. We are grateful for our partnership with Aegon, who shared the same vision in realizing the upside in the property.”
Hunter’s Chase was built in 1986 and is located at 5200 Hunt Master Drive in Midlothian. The property comprises 320 one-, two-, and three-bedroom units averaging 816 square feet. The community features a resort-style swimming pool, 24-hour fitness center, tennis courts, self-service car wash, and two playgrounds with a rock-climbing wall.
Hunter’s Chase is located just over 18 miles southwest of Downtown Richmond in the Chesterfield County submarket. Richmond’s diverse economy is built around a mix of healthcare, government, and finance jobs. Major Richmond-area employers include Philip Morris USA, Amazon.com, the U.S. Department of State, the United States Postal Service, HCA Virginia Health System, Wal-Mart Stores Inc., and Anteon Corporation. Due to Chesterfield County’s central location and brilliant transportation infrastructure, the region has become a manufacturing and distribution hub, home to the headquarters of major manufacturers like DuPont and Honeywell, Inc.

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RALEIGH, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and a developer of mixed-use multifamily communities, announced it has broken ground on 320 West South Street, a luxury mixed-use high-rise apartment tower located in the Warehouse District of Raleigh, North Carolina within a qualified opportunity zone. Construction of the development is expected to be completed by summer 2024.
“We couldn’t be more excited to start construction on 320 West South Street, a truly elevated property that will transform the surrounding neighborhood, bringing vitality and elegance to downtown Raleigh’s Warehouse District,” said Whit Huffman, chief strategy and investment officer. “This property will provide exceptional amenities for residents, who will delight in the vibrant social lifestyle provided by the nearby galleries, art studios, restaurants and the city’s largest park.”
The 20-tale, high-rise community will feature 297 apartment homes and more than 10,000 square feet of ground-floor retail space. A spacious double height resident lobby will lead to approximately 30,000 square feet of amenity space and an attached garage with multiple-floor access will provide parking for residents and their guests. Onsite amenities will include a resort-style swimming pool, rooftop lounge, coworking space and state-of-the-art fitness center. The apartment mix will consist of studios and one-, two- and three-bedroom units, each outfitted with stainless steel appliances, exposed concrete ceilings, tile and luxury vinyl flooring, modern wood cabinets, and sophisticated lighting fixtures.
Situated at the intersection of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, 320 West South Street will be one of only a handful of luxury apartment communities in the downtown submarket. It will sit at the epicenter of a thriving part of downtown Raleigh, within simple walking distance of multiple entertainment venues, cultural sites, nightspots, and dining options, as well as the RedHat Amphitheater and Raleigh Convention Center. Located adjacent to U.S. 70, the property offers ready access to The Research Triangle and North Carolina’s well-known educational institutions, including Duke University, the University of North Carolina at Chapel Hill and North Carolina State University.
“Raleigh’s Warehouse District is in the midst of a fundamental transformation from an industrial area to a vibrant and exciting urban center,” clarified Adam Stifel, chief development officer. “320 West South Street will provide residents uncanny views of the downtown Raleigh skyline and Red Hat Amphitheater.”
Capital Square has partnered with JDAVIS Architects as building architect, W. M. Jordan Company as general contractor and York Properties as the retail leasing agent for the property. The design team also includes Architecture Firm as interiors designer and EDSA as landscape designer.
Development of 320 West South Street will be primarily funded with proceeds from Capital Square’s sixth qualified opportunity zone fund, CSRA Opportunity Zone Fund VI, LLC, which raised more than $48 million from accredited investors. Capital Square recently launched CSRA Opportunity Zone Fund VII, LLC to fund the development of a luxury multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia. Capital Square’s opportunity zone funds have initiated over $330 million in development value to-date.

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