PETERSBURG, FL – Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, announced that Bay area high-rise Ascent St. Pete celebrated its topping off on April 29. Rising higher than any other rental community in the Tampa Bay region, Ascent St. Pete provides residents incredible, 360-degree views of Tampa Bay as well as the Gulf of Mexico. The project will feature outdoor pool amenities at both the sixth and 36th floors.
“Located in the heart of St. Petersburg, Ascent will provide an unparalleled rental housing experience in the Tampa Bay region,” David King, Senior Director of Development, said. “It has a creative and eccentric interior that complements its modern exterior, which is emphasized by expansive glass balconies at nearly every unit. Overall, Ascent connects with St. Pete’s vibrant energy and makes an environment where residents can feel like they vacation where they live.”
The podium-style high-rise will reach 36 tales with 357 units that feature floorplans that include studios, one-, two- and three-bedrooms as well as penthouse units with elevated finishes and access to dedicated penthouse amenities. Ascent St. Pete boasts a 94 percent walkability score.
Partnering with AC by Marriott, the mixed used project includes a 172-key hotel which will allow Ascent St. Pete to augment the resident experience with shared outdoor amenities and services. The hotel will also feature a separately branded restaurant on the eighth floor with an outdoor terrace and bar.
The high-rise also contains more than 6,800 sq. ft. of ground-level retail space along First Ave. and 2nd Street North.
Ascent St. Pete is scheduled to open in January 2023 with final construction completion slated for May 2023.

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ORLANDO, FL – JLL Income Property Trust, an institutionally managed daily NAV REIT with more tham $6.3 billion in portfolio assets and 119 properties, announced the acquisition of Jefferson Lake Howell, a newly constructed, class-A apartment community in the northern Orlando suburb of Casselberry, Florida. This amenity-rich, lakefront, 384-unit garden-style apartment community was bought for approximately $154 million.
“This addition to our growing residential portfolio, an overweight portfolio allocation for us, aligns with our strategy to invest in well-located communities with strong demand drivers and high barriers to entry for new competition,” said Allan Swaringen, JLL Income Property Trust President and CEO. “The community’s proximity to high paying employment centers and top-rated schools, limited supply of competitive properties along with minimal developable land in the area for new apartments, along with the region’s consistently low vacancy rates made this an attractive investment that we believe will drive long-term, stable cash flow for our portfolio.”
Swaringen also noted, “Orlando apartment demand was highly resilient and remained positive even during the pandemic-induced recession of 2020, despite deep job losses due to a decline in tourism. Then, in 2021, occupied units grew by a record 7 percent and rents increased 26 percent ranking seventh for recent rent growth among 162 markets tracked by LaSalle.”
Located less than 10 miles north of Downtown Orlando, Jefferson Lake Howell provides residents with simple access to highways serving major employment and transportation nodes via Interstate Highway 4 and State Road 17, along with nearby retail amenities including a Publix-anchored shopping center, a Walmart Supercenter and numerous dining and entertainment options.
The Orlando apartment market is a LaSalle Research & Strategy recommended overweight for core investment given its strong in-migration trends, limited for-sale housing stock and record-low residential vacancy rates. Orlando’s population is forecasted to grow 1.9 percent through 2026, well above the US average of 0.7 percent, while vacancy currently sits at a record-low 2.1 percent, below its 20-year average of 5.6 percent. The property is also within three miles of highly rated schools that are part of Seminole County’s school system, which ranks in the top five in Florida.
JLL Income Property Trust’s aggregate residential allocation is now over $2.7 billion, with more than 9,900 residential units across 24 apartment communities and a 14-market single-family rental portfolio representing 43 percent of its $6.3 billion property portfolio.

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PRINCETON, TX – HLC Equity, a national real estate investment and property management firm, has announced the buy of Southgate Apartments, a 156-unit, new construction community located in Princeton, Texas.
Southgate Apartments, the latest Class A acquisition for HLC Equity, is located adjacent to the high growth McKinney area of Dallas. The city is undergoing significant economic expansion due to growth in key industries. For the past decade, McKinney has maintained a consistent presence on the list of fastest growing cities in the nation.
The Southgate Apartments community was completed in Q1 of 2022, when HLC Equity secured the off-market opportunity from a relationship with the developer, who specializes in the local DFW market. Inheriting the lease-up component has allowed HLC Equity to generate a better yield and is expected to stabilize at a 5% cap rate. The property offers residents exclusive, never-lived-in units plus a variety of distinguished amenities. From an expansive resort-style pool and clubhouse to a state-of-the-art fitness center and a dog park, Southgate provides residents with a heightened experience, regardless of their style or preference.
“We are excited to add Southgate to our expanding Dallas portfolio. This opportunity was sourced off-market through our relationships with an experienced local developer. This community hits right in our target of acquiring high quality assets in growing markets with the high potential to outperform.” commented Daniel Farber, CEO of HLC Equity.
Southgate Apartments will be managed by HLC Equity’s internal property management team and will implement many features developed by its Layers brand. Layers endeavors to increase property value and resident experience by providing certain unit upgrade options, integrating the company’s innovative technology and offering onsite/offsite services to further benefit residents and community at large.

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