SALT LAKE CITY, UT – RealSource Properties, Inc., a leading real estate investment and management firm with nearly $1 billion in commercial multifamily acquisition history, announced the launch of its Real Estate Investment Trust (REIT). For the first time since commencing its investment and management platform two decades ago, the Salt Lake City-based company is now extending an opportunity to accredited investors to join with RealSource in a portfolio of multifamily assets.
“We believe there may be no better time for RealSource to launch a multifamily investment vehicle than now due to the favorable fundamentals being experienced in specific markets across the United States. When we apply our local real estate cycle econometrics and knowledge to ascertain which markets are quickly recovering from the pandemic, it is clear to see that demand for apartments is rising, said Nate Hanks, CCIM, CEO of RealSource Properties. This multifamily-focused REIT will open up our company s track record in value creation to non-institutional investors looking for ways to diversify their portfolio with cash flowing real estate.
The $390-million RealSource Properties REIT targets multifamily properties, with ten properties already owned with more in the pipeline. Utilizing the firm s vertically integrated business model, assets in the REIT will be managed by the same value-add real estate strategy currently deployed at RealSource multifamily assets nationwide. RealSource s in-house team of economists, researchers, and acquisition specialists source viable investments; then, its team of asset management professionals manage and operate the assets identified for the acquisition.
Commercial real estate investments have emerged as a solution for investors looking for portfolio alternatives, and REIT-structured investments like the one offered by RealSource have historically provided investors with risk mitigation, potential attractive and sustainable yields, competitive market performance, streamlined investment management, and potential significant tax advantages. Additionally, investors will have full transparency into the operation and performance of each asset in the REIT.
The ten properties already owned by the RealSource Properties REIT include 2,897 apartment units in Ohio, Texas, North Carolina, and Colorado. The acquisition process for these properties relied on an econometric model that evaluates nearly 40 different market sub-categories, factoring such things as market, migration, income, social indicators, state GDP and tax rates, growth, and more. The development of this unique set of parameters over time allows for in-depth comparison over broad periods and markets, submarkets, and regions.
Hanks clarified, In 2022, we anticipate continued strength for the rental product since demand outweighs supply. To be sure, the pandemic caused dramatic demographic shifts, which pose some lesser-known threats that are beginning to evolve in the industry. Yet we believe there are opportunities to trade in and out MSA’s when savvy investors bring the right business model and do it correctly. Timing the local real estate cycle correctly can make higher returns in times of larger upward swings in what is often called the absorption cycle.
In addition to deep market research, each asset bought by the REIT is evaluated to align with its value-add strategy. The REIT looks to source assets bought at meaningful discount to replacement cost – and assets that are determined to benefit from operational efficiencies and improvements through asset management initiatives, property improvement plans, and a series of other contributing variables. For RealSource Properties investors, the REIT s structure allows the potential for accretive improvements of its value-add strategy results to enhance performance in the long term, as compared to individual property performance.
Hanks concludes, The axiom, everyone needs a place to live, has never rung truer than during the pandemic. Effectively located apartment homes in booming U.S. metros can be more undervalued than many deep inside the real estate industry realize. Rising costs of living, coupled with rising replacement costs to build new housing, have resulted in a giant macro increase to multifamily values in most markets at the close of 2021. An vital market cycle has surfaced: rising single-family prices are causing more people to rent for longer, affecting demand for already near-full apartment inventory. Consequentially, multifamily vacancies in many metros are near all-time low levels and naturally pushing rent rates upward in many of the largest 50 metros.

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SAN DIEGO, CA – MG Properties, a private San Diego-based real estate investor, owner, and operator is further expanding their presence in the Orange County, CA with the acquisition of The Herald Apartments.
Built in 2021, this 215-unit community is a rare opportunity to buy a “class A” asset in Placentia. The strong demographics of the surrounding area make The Herald’s exceptional amenity package and high-quality finishes well suited to the market.
Jeff Gleiberman, MG Properties’ Managing Director, said “The Herald is ideal addition to our Southern California portfolio. We believe Orange County has strong fundamentals and is positioned well for growth in the near term.”
The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathan Merhut of Eastdil Secured. The property was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured.

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NORCROSS, GA – Ashcroft Capital, a fully integrated multifamily investment firm, announced the acquisition of Elliot Gwinnett Place (formerly Retreat at Arc Way), a garden-style community approximately 20 miles northeast of Downtown Atlanta. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the community. The property was bought through Ashcroft’s Value-Add Fund II.
The community, which features 284 apartment homes, adds to Ashcroft’s burgeoning Atlanta-area portfolio. The company now has five communities in the area, all bought within the last year, including two within Norcross. Ashcroft also owns communities throughout Texas and Florida.
“We’re huge believers in the Atlanta metro market, and will continue to grow our team and pursue opportunities in the area for the foreseeable future,” said Frank Roessler, founder and CEO of Ashcroft. “Norcross is among the fastest-growing submarkets in the area, due in part to its proximity to the city’s key employment sectors and its highly rated school districts. We look forward to implementing our value-add strategy to modernize the community and reposition it as one the most desirable options in the submarket.”
Located at 4025 Arc Way, Elliot Gwinnett Place sits less than three miles from Interstate 85, a key artery that connects to the greater metropolitan area. The community features spacious one-, two- and three-bedroom layouts and provides a silent respite from the bustling areas of the city. It also offers simple access to the nearby offices of Comcast, Amazon, Mitsubishi and Hewlett-Packard, as well as the abundance of eateries and shops within downtown Norcross.
Ashcroft’s renovation efforts at Elliot Gwinnett Place, initially built in 1988, will include a full update and modernization of the amenity spaces, improved curb appeal and upgrades to landscaping and community signage. Within the apartment homes, Ashcroft will add stainless steel appliances, hard-surface countertops, tile backsplashes, vinyl-plank flooring, upgraded lighting and plumbing fixtures, USB ports and new cabinet fronts with modern pulls. The previous owner recently renovated approximately 25% of the homes.
Existing community amenities include a swimming pool, resident clubhouse and business center, fitness center, picnic areas, playground and laundry facility. Existing apartment features include laminate countertops, white/black appliances, wood-style cabinet fronts, walk-in closets, private patios/balconies and washer/dryer connections. Homes renovated by the previous owner feature various upgrades, including granite countertops and stainless steel appliances.
Elliot Gwinnett Place joins Elliot Norcross, located about seven miles away at 1355 Graves Road, in Ashcroft’s Norcross portfolio.
“We are thrilled to add a second asset in Norcross, which has been a phenomenal location for us,” said David Deitz, president of Birchstone. “Our team looks forward to making the best possible resident experience as we continue to build the brand in the area. The community already offers a stellar location, and we believe we can give it an even greater upside.”

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