HOUSTON, TX – Sentinel Real Estate Corporation announced that it has bought Three Thousand Sage, a 324-unit mid-rise apartment community in Houston. The transaction presented an opportunity for Sentinel to buy a high-quality asset where it can leverage its extensive operational expertise to implement a capital improvement program intended to enhance income and the value of the investment.
Three Thousand Sage is optimally located in the desirable Galleria/Uptown submarket of Houston, an affluent area that is often referred to as the city s second downtown. The property is located in close proximity to the area s major employment hubs, including the Uptown Houston office submarket, the 11 million-square-foot Greenway Office Park, and Downtown Houston, which are home to hundreds of employers – including 10 of the city s 26 Fortune 500 companies – representing hundreds of thousands of jobs. Texas Medical Center, the largest medical center in the world with 106,000 direct employees and 72,000 students, is also within five miles of the property. Three Thousand Sage is located two blocks from the Houston Galleria Mall – the largest mall in Texas – and provides convenient access to Houston airports and a variety of retail, restaurant and entertainment options via the I-610 Inner Loop, Westpark Tollway and I-69.
In Three Thousand Sage, we have recognized an opportunity to buy a high-quality asset in a desirable market that has seen significant increases in demand driven by consistently strong job and population growth, said Michael Streicker, President of Sentinel. Multifamily vacancy rates are currently at their lowest point since 2015, and the region saw 20,000 net go-ins in the first half of 2021 – the strongest two quarters on record. The property is well positioned to capitalize on that demand, ideally situated in the heart of several high-profile employment hubs in Houston. This acquisition exemplifies our proven investment strategy, and we look forward to making improvements that make an even better place for our residents to live.
Built in 2004, Three Thousand Sage is a four-tale, 324-unit apartment complex comprising one- and two-bedroom units averaging 1,006 square feet. Each residence features high-quality finishes such as nine- and 10-foot ceilings, granite countertops, large garden tubs, hardwood-style floors, walk-in closets, full-sized washer-dryers and intrusion alarms. Select units include stainless steel appliances, a private patio or balcony, a private office with built-in computer desk, glass front cabinets, double vanities in the bathrooms and travertine flooring. Community amenities include two resort-style pools, a cabana with gas grills, a well-appointed fitness center, two resident lounges, and an electronic parcel locker system.
Sentinel intends to realize additional value through a capital improvement program that will both enhance the shared amenities – including the pools, lounges, lobby and fitness center – and upgrade all interior finishes to include stainless steel appliances and wood-style flooring. The firm will also leverage its deep institutional knowledge and experience owning and operating multifamily assets to explore additional opportunities to improve the resident experience.
Sentinel has been active in the Houston market throughout its 51-year history, having owned and operated 28 multifamily properties in the area, comprising over 9,200 units. Since its inception, Sentinel has bought a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

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LAS VEGAS, NV – An affiliate of Walton Street Capital announced that it has bought and recapitalized a 286-unit mid-rise community located at 3850 West Nevso Drive in West Las Vegas in partnership with The Calida Group.
Completed in 2021, the Property features a mix of studio, one-, and two-bedroom apartments that are currently 96% leased. Unit and property amenities include designer interiors with contemporary finishes, fully equipped kitchens with stainless steel appliances, plank flooring, a luxurious resident clubhouse, an outdoor pool with cabanas and grill areas, an oversized fitness center with a yoga/spin studio, tanning salon, dog park and rooftop deck overlooking the Las Vegas Strip.
Elysian Palms is situated just one mile west of the Las Vegas Strip, which is the heart of the metro area and is home to over 30 major casinos, 145k hotel rooms, and 8 million SF of convention space and countless retail, dining, and entertainment venues. With nearby proximity to Interstate 15 & Highway 215, residents can easily access numerous employment nodes and recreational facilities including a scenic trail system, parks, and professional sporting events.
The Elysian at the Palms represented the opportunity to buy a recently constructed, high quality residential product, differentiated in a premier lifestyle location. We are excited about our venture with The Calida Group in this transaction and look forward to expanding our partnership together, said Andrew Gindy, Senior Principal at Walton Street.
We anticipate that the Las Vegas market is well positioned for continued population growth, relative affordability, low levels of new supply, and the ongoing cyclical recovery of the leisure sector, said Robert Bloom, Managing Principal at Walton Street.

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PENSACOLA, FL – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of The Residences at 393 North Apartments, a newly constructed, Class A, multifamily community in Santa Rosa Beach, near Pensacola, Florida. The 128-unit multifamily community was bought on behalf of CS1031 Residences at 393 North Apartments, DST.
“The Residences at 393 North is a newly constructed, highly amenitized Class A multifamily community featuring spacious floor plans with walk-in closets, top of the line finishes, stainless steel appliances, in-unit washers and dryers, private storage units, double vanities as well as private screened patios and balconies,” said Louis Rogers, founder and chief executive officer of Capital Square. “The community also features high-end amenities such as a 24-hour state-of-the-art fitness center, a resort-style pool and spa, a resident lounge with an entertainment kitchen, and a dog park. The community is located in Santa Rosa Beach, close to Florida’s scenic highway 30A, with convenient access to Destin, Panama City, and numerous beaches and parks.”
Located at 77 Exuma Way, the community was completed in 2021 and is situated on 10.89 acres of land. The Residences at 393 North features one-, two- and three-bedroom floorplans with an average unit size of 1,096 square feet.
As of October 2021, the property has a waiting list of 68 prospective tenants.
CS1031 Residences at 393 North Apartments, DST seeks to raise $23.3 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Surrounded by luxury beach houses, upscale dining and retail options, as well as white sand beaches and turquoise waters, Residences at 393 North is ideally located in the picturesque area of Florida’s Emerald Coast,” said Whitson Huffman, chief strategy and investment officer. “Several homes in the surrounding area are priced between $1 millionand $8 million, proving the area’s affluence. With its high occupancy of nearly 98% and ideal location, the community fits perfectly within our investment criteria for Class A multifamily properties.”
“Residences at 393 North has instantly become one of the highest quality multifamily assets along Florida’s Emerald Coast and will continue to be highly sought by the most discerning lifestyle renters in the market for many years to come,” said Colliers International Director/Partner Mike Steiner. Steiner represented both the buyer and seller in the transaction.

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