HUMBLE, TX – Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, has bought The Park at Tour 18, a 241-unit, Class “A” apartment complex in the highly attractive Greater Houston Texas market.
“Multifamily acquisition is a core strategy for Civitas in 2022,” says Rootvik Patel, Investments Director for Civitas, who led the transaction along with colleague Chandler Kyser. “The combination of a stabilized property, high-quality new construction, and a quick-growing market made this a win-win for the developer and for Civitas.”
Located 10 minutes east of George Bush Intercontinental Airport and 30 minutes northeast of downtown Houston, Texas, the property sits adjacent the Tour 18 Golf Course. The community is surrounded by gorgeous views and conveniences, including restaurants, shopping centers, and parks. Community features include a nature trail, a two-tale fitness center, a resort-style swimming pool, and attached garages in select units.
The Houston MSA, home to 7.1 million residents, has experienced a population boom since 2010, adding more than 1.1 million people. This has drawn highly skilled labor and increased median household income to over 11% above the national average.
The Park at Tour 18, which closed December 9, is the fifth multifamily property Civitas has bought since this past summer and the second in the Houston MSA.
BHW Capital, the Houston-based developer of Park at Tour 18, was formed in 2012 by Martin Bronstein & Ralph Howard. It focuses on multifamily development opportunities in suburban infill locations targeting underserved locations across major Texas markets.
Bryan Tran, vice president at BHW Capital, said, “Park at Tour 18 is the third development BHW Capital has completed the full investment life cycle. Following the latest project’s success, we plot on continuing to grow our multifamily development pipeline across high-growth Texas suburban markets.”

Powered by WPeMatico

CHATTANOOGA, TN – Olympus Property further expands its footprint in Tennessee with the successful acquisition of The Village at Apison Pike, a garden style Class-A multifamily community in the Chattanooga suburb of Ooltewah.
Completed in 2015, this 248-unit community is well positioned in the rapidly expanding suburbs of Chattanooga. The population influx in the Chattanooga MSA is a direct result of the revitalization of the Downtown area and the strong economic development brought by major employers such as Amazon, Volkswagen, and McKee Foods Corporation. Chattanooga was recently ranked number one for Employment Outlook by Forbes magazine, in part due to its proximity to the high growth metros of Atlanta and Nashville. With the continued economic development brought by corporate expansions, experts foresee an increase in high paying jobs, thereby raising household incomes by 28% over the next 10 years.
“The Chattanooga market is one of the most sought-after submarkets in the United States. It is experiencing exceptional rent growth accompanied by very limited supply. The Village at Apison Pike will be a fantastic addition to our Tennessee portfolio.” said Travis Bertetto, Olympus Acquisitions Manager.
The Village at Apison Pike features a resort style pool with cabanas, state of the art fitness center, fully equipped clubhouse with a billiard and gaming room, and a dog park. Unit interiors include granite countertops, nine-foot ceilings, and stainless-steel appliance packages. Olympus plans to further enhance this Class A property by infusing an additional $1M in capital over the next few years. This will include a complete exterior paint, minor renovations to the clubhouse, and amenity enhancements which will add significant value long term.
“Olympus Property has owned in the Chattanooga Market since 2016 and believes in the continued long-term growth of the market, which will provide upside to both our Partners and Olympus,” said Chase Bennett, Managing Director.

Powered by WPeMatico

LOUISVILLE, KY – Stoneweg US, a real estate investment firm specializing in multifamily acquisitions and developments, announced the $230 million acquisition of Middletown Landing and Mallard Crossing at St. Matthews, two premiere assets in the Louisville MSA.
The sizeable deal was sourced off-market, adding 1,246 units to the Company’s growing portfolio, currently tracking to reach nearly 15,000 units by year-end. The deal marks the largest for the Company to date.
“We’re fortunate to buy two high-quality assets that significantly bolster our overall unit count and allow us to extend our reach in a market that we’ve been so successful in,” said Ryan Reyes, Chief Investment Officer for Stoneweg US. “Middletown Landing and Mallard Crossing at St. Matthews represents a giant step forward in our growth strategy and this go is indicative of our capabilities to source and close quality deals on a large scale.”
Middletown Landing offers 646 spacious units that include a majority of townhome style units with an average unit size of nearly 1,100 sq ft and boasts elite finishes and interiors such as granite countertops, 9-foot ceilings, subway tile backsplashes, and trendy wood-style plank flooring. Best-in-class exterior amenities include a two-tale fitness center, resort-style pool, volleyball courts, and The Goat, an onsite full-service restaurant that offers convenience and notable distinction from neighboring residences. Built in 2014 and 2016, Middletown Landing is nestled in the South Jefferson Middletown submarket, providing simple access to major highways, notable employers including UPS, Amazon, and Ford Motor Company; and in proximity to major retailers such as Target and Kroger.
Mallard Crossing at St. Matthews, constructed in 1988, contains 600 units and is situated in the heart of the St. Matthews submarket, one of Louisville’s strongest performing and most desirable submarkets due to its accessibility to downtown Louisville and its burgeoning job market. The previous owner deployed a partial renovation plot, installing quartz countertops, walk-in showers, upgraded cabinetry, and new lighting fixtures for 20 percent of the units. Mallard Crossing also features a vintage farmhouse constructed in the 1800s which now serves as the property’s leasing center, providing a unique aesthetic to the grounds.
“Middletown Landing and Mallard Crossing at St. Matthews both possess that accessibility element that has historically driven renters,” said Ryan Smyth, Director of Acquisitions for Stoneweg US. “The business plot we will implement at both properties will push these assets to the forefront of the ‘live-work-play’ trend that is overwhelmingly driving multifamily developments and communities right now.”
Stoneweg US will deploy a generous capital expenditure budget to complete unit renovations, revamp signage, and spruce up the landscaping at both communities. New amenities are also scheduled that will add dog parks, storage solutions, new gym equipment, and other enhancements to the resident experience. Operations at Middletown Landing will be overseen by Greystar, while operations at Mallard Crossing at St. Matthews will be managed by The PMR Companies.

Powered by WPeMatico