BIRMINGHAM, AL – Global residential manager Common and celebrated local plotting and development firm Orchestra Partners started leasing the residential units in the historic Downtown building, The Frank. After being selected by Orchestra Partners to manage the building earlier this year, Common will bring its signature offering of desirable and attainable housing to the hyper-growth Birmingham market.
This 180-unit building marks the first project between the two groups and solidifies their commitment to bringing high-quality housing to Birmingham, Alabama. Applications are now available for a fall 2022 go-in, with rent starting at $802.
Orchestra Partners is a plotting and redevelopment advisory firm based in Birmingham, Ala., focused on transforming the urban experience. Their work in Birmingham includes several adaptive reuse projects, including The Frank Nelson Building.
Once one of the first skyscrapers in Birmingham, this 120,000 square-foot building was originally built to be the First National Bank Building in 1903. Now, Common at the Frank will act as a vital part of downtown with amenities that serve the entire Birmingham community. With an onsite restaurant, tenant lounge, roof deck, and a two-tale outdoor terrace open to the public, The Frank will function as a hub for connection and activity.
“We’re very excited to start our partnership with Common and start leasing at The Frank,” said Orchestra Partners Development Manager, Caroline Jenkins. “This building has been a part of Birmingham’s history for more than 100 years, and we’re so pleased to breathe new life and activity into it.”
Common at the Frank will feature 180 units of both studio and one-bedroom apartments across 10 tales.
Birmingham is a quick-growing rental market with a high net migration rate of young professionals, fueled completely by new arrivals and renters in the Sunbelt. With 50% of current portfolio residents moving to a new city, Common is expertly positioned to leverage its national brand presence to attract prospective renters in the area and beyond. Proving its commitment to the city and surrounding community, Common is expected to open over 400 residential apartments total in Birmingham by the end of the year.
“As our brand continues to grow across the world, Common is seeing first-hand how dynamic cities like Birmingham become sought-after destinations for the next generation to find attainable housing,” Common Founder and CEO Brad Hargreaves said. “I’m so thrilled to work with Orchestra Partners to bring this incredible adaptive reuse project to life and help promote their mission in Alabama. This is only the beginning for Common in Birmingham, and we’re looking forward to contributing to the future of this city.”

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LAS VEGAS, NV – MG Properties, a private San Diego-based real estate investor, owner, and operator has bought the 275-unit Verona Apartments in Henderson. MG Properties owns five other properties in the Las Vegas submarket.
Las Vegas’ desirable Henderson submarket is one of the fastest growing cities in the country due to its job growth, award-winning master-plotted communities, strong school system and amenities. Relative affordability of Las Vegas when compared to coastal metros has led to expansion by top employers, and the location of Verona Apartments benefits from brilliant accessibility to multiple major throughways that connect residents to major job centers throughout the metro.
“Las Vegas continues to be a major beneficiary of the economic recovery, with strong population and employment growth,” said Jeff Gleiberman, Managing Director of MG Properties. “we are pleased to add Verona to our regional portfolio and continue to be optimistic about the future prospects for the Las Vegas market.”
MG Properties has bought 11 communities in 2022 so far, totaling over 2,800 units exceeding $990 million in combined value. The company is targeting further acquisitions in Washington, Texas, Oregon, Arizona, California, Colorado, and Nevada.
Seller was represented by Taylor Sims of Cushman and Wakefield. Financing was provided by Brooks Benjamin and Corina Lam from Key Bank Real Estate Capital.

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NEW HAVEN, CT – An affiliate of Hudson Meridian Construction Group, a premier builder and developer of residential and commercial properties in the Northeastern United States, announced that it has obtained construction financing from ACORE Capital and Sculptor Real Estate to fund the development of a 6-tale, 398-unit multifamily community at 201 Munson Street in the growing Science Park section of New Haven. The financing was arranged by Tessera Partners and Capital & Venture Resources. Hudson Meridian also announced that New Haven investor Paredim Partners LLC has joined the Munson development partnership and the firm’s Paredim Communities division will conduct the leasing and management activities upon completion.
This truly extraordinary community will offer a flexible unit mix including 90 studios, and 208 1-bedroom units, 78 2-bedroom units and 22 3-bedroom townhome-style units. Select homes will contain additional “live/work” spaces and many layouts will have outdoor spaces. The project will also feature a richly styled, best-in-class amenity offering, including state of the art clubhouse and fitness center building, sprawling recreational roof deck with several grilling and dining areas, a variety of lounge areas and an outdoor pool with a luxe sun deck and cabana area.
Situated adjacent to the well loved Farmington Canal Heritage Trail and Yale Science Park’s main commercial corridor, this urban infill project will occupy the site of the former Olin Corp. This former manufacturing site had degraded to a seriously contaminated eyesore after sitting vacant for many years. This exceptional residential project will also contribute to the neighborhood’s revitalization and ongoing Science Park redevelopment that has become home to numerous global leaders in the biotech and technology companies, Yale University and not-for-profit organizations serving New Haven communities.
Bill Cote, CEO of Hudson Meridian, said “We are excited to contribute to the brilliant progress being made in the redevelopment of Science Park area with the development of this fantastic new amenity rich apartment community to meet the growing demand for young urban professionals to live, work, and delight in the lifestyle in New Haven. 201 Munson presented a unique set of development challenges that required a skilled execution team and a committed group of investors over the 3-year predevelopment period. We are grateful to our partners, the Lin and Chin families who remained steadfast in their commitment to see this project developed to serve the surrounding neighborhood.”
David Parisier, Managing Director of Paredim Partners, said “Paredim has been an active investor and manager of multifamily communities throughout New Haven since 2003, and we are so excited to be part of delivering this best-in-class community in of one of New Haven’s most vibrant and fastest-growing neighborhoods.”

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