CHARLOTTE, NC – Preferred Apartment Communities announced that it completed the acquisition of Solis Chestnut Farm, a 256-Unit Class A multifamily community in the Charlotte, North Carolina MSA.
Jeff Sherman, the Company s President of Multifamily said, Chestnut Farm is a second-to-none, Class A property in the affluent Charlotte suburb of Matthews. Additionally, Chestnut Farm is uniquely advantaged with an inimitable amenity – a 265-acre park directly connected to the property, providing our residents a right live-play experience. Mr. Sherman continued, Charlotte is a target market for us that has seen, and we believe will continue to see, tremendous population and job growth. This acquisition provides us with the premier property in a rapidly growing Charlotte submarket and positions us to fully capitalize on these favorable demographic tailwinds.
Joel Murphy, the Company s Chairman and Chief Executive Officer said, Now, with the acquisition of Chestnut Farm in Charlotte, we have bought, in the first three quarters of the year, five properties totaling 1,278 units in five of our target MSAs – Atlanta, Dallas-Fort Worth, Nashville, Washington, and Charlotte – bringing our total portfolio unit count to over 12,000 across 10 states. Mr. Murphy added, Four of these acquisitions resulted from our real estate loan investment program and reinforces the intrinsic value of this program to not only provide us with accretive returns during the loan term, but also to build out our proprietary acquisition pipeline. These five acquisitions are a result of the Company s strategic rotation of capital away from non-core investments into our growing core multifamily business and our intentional focus on certain key Sunbelt markets that we believe will deliver outsized growth over the near and long term.

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DALLAS, TX – Lion Real Estate Group, LLC (“LREG”), a real estate investment and asset management firm focused on acquiring value-add and opportunistic multifamily properties, announced it has bought Trinity, a 496-unit multifamily property located at 1147 Esters Road in Irving, TX. Terms of the sale were not told.
Trinity, formerly known as Trails of Towne Lake, was first built in 1984. Units range from 637 square feet to 1,152 square feet with a mix of one- and two-bedroom units and offer several amenities, including a resort-style pool and fitness center. The property recently completed exterior upgrades and is undergoing interior refurbishments as part of a $4.5 million renovation program to increase curb appeal and bring rents in line with market value.
“We are delighted to complete this deal and expand our presence in the Dallas-Fort Worth area,” said Jeff Weller, Co-Founder and Managing Principal of LREG. “Having relocated LREG’s headquarters to Dallas at the beginning of 2021, the buy of Trinity reflects our ability to identify attractive multi-family developments in nearby upscale suburban areas, where we can add value and realize promising returns alongside investors.”
The Trinity transaction marks LREG’s first investment from its newest fund, LREG Multifamily Fund II, which recently raised $118 million from a mix of high-net-worth and institutional investors. Consistent with LREG’s thematic focus, the fund targets multi-family housing properties in strong economic growth areas with convenient access to urban centers and major freeways. Trinity is 15 minutes from downtown Dallas and is situated near State Highways 161 and 183. LREG’s first fund, Marble Partners Fund I, LLC, has been fully invested in 3,503 units across nine markets since 2020.
“As one of Texas’ strongest submarkets, we are very pleased to add Irving to our portfolio of investments,” added Mory Barak, Co-Founder and Managing Principal of LREG. “The area’s solid growth fundamentals, location outside the urban core, and diverse, educated workforce were all compelling qualities as we explored this investment opportunity.”
Dallas-Plano-Irving is one of the leading metro divisions for jobs recovery post-pandemic, accounting for nearly a third of Texas’ total job gains over Q2 2021. Irving has more Fortune 1000 global headquarters per capita than any other city in the state, according to The Irving Economic Development Partnership, and was also recently named the second-most culturally diverse city in the U.S.
The deal follows LREG’s April acquisition of Collier Ridge, a 300-unit multifamily property in West Buckhead, Atlanta, GA. LREG’s estimated value of real estate and cash assets under management is approximately $1.1 billion as of August 31, 2021.

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KNOXVILLE, TN – Muinzer, a privately held real estate investment firm founded by Marc Muinzer, together with T2 Capital Management, announced the acquisition of The Heights of Knoxville near the University of Tennessee. The 636-bed student housing community is 100% leased and underpinned by 31 acres of land. The transaction was facilitated by Scott Clifton of JLL.
The buy, which was bought at a discount to replacement cost, marks the continued nationwide expansion of the Muinzer student-housing platform. The Heights of Knoxville is Muinzer’s first acquisition in the University of Tennessee market.
“The Heights of Knoxville is exactly the kind of asset we are looking to buy. It maintains a strong sense of community and has opportunities for sustained improvements over time. I am delighted with the near and long-term prospects for this property,” said Marc Muinzer, Founder and CEO, Muinzer.
Muinzer also announced a $325 million student-housing acquisition initiative. “As one of the fastest growing student housing investment firms in the nation, we are seeking acquisitions near rapidly expanding universities in the Huge 10 and SEC,” added Mr. Muinzer. “Our team’s 20-year track of executing across various economic cycles has been the backbone of our success. We intend to leverage this experience as we continue to expand our team and our portfolio.”

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