ATLANTA, GA – Vive Funds, led by Veena Jetti, has successfully bought The Estates at Crossroads. The property is a high-performing Class-B 344-unit multifamily property in the metropolis of the strong performing Atlanta market. The property was bought in partnership with Blue Lake Capital, LLC, led by CEO Ellie Perlman. This powerhouse duo combined forces to successfully spearhead this acquisition via REV Fund – a joint-led $100M multifamily value-add fund established in May 2021.
The property, located at 2620 N Berkeley Lake Road NW, Duluth, GA 30096, is a 2002 institutional-quality asset that enjoys an exceptional location and a promising interior renovation opportunity. In addition, the property also offers a robust amenity package including a resort-style swimming pool, large sundeck with a grilling area, fitness center, dog park, tennis courts, playgrounds, sprawling nature trails, and detached garages.
The property will be enhanced via a value-add strategy, which entails installing modern apartment unit finishes such as stainless-steel appliances, vinyl plank flooring, new lighting and hardware, new backsplashes, and other features to further drive the desirable tenant base currently in place. Coupled with additional income-generating improvements, Vive Funds is confident in delivering a strongly performing and profitable asset to investors.
This most recent acquisition marks further continued growth for Veena Jetti s portfolio and takes her portfolio to just over $500MM in AUM throughout the Texas, Florida, and Georgia markets. Vive Funds is proud to report strong performance of its portfolio and never having missed a preferred payment amid COVID. By implementing expert hands-on strategies to lower costs and maximize collections, the company has recently pushed rents up by 23.65% on some units, well above proforma projections.
A defining factor in this strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Vive Funds is able to lead commercial investments with the full capabilities of today s technology.
The deal included several strong working partnerships, including the lending team, led by Melissa Marcolini Quinn, who is helped by Lee Weaver, and Rob Rothaug, who all recently joined JLL. Large private funds and family offices are bullish on the sponsors and invested significantly into the deal. The SEC attorney, Nic McGrue of Polymath Legal, also played a crucial role in the deal structure. Also involved in the deal was Jeannette Robinson, Director of Investor Relations for Blue Lake Capital. We are grateful for our incredible team in this deal, Jetti said. This joint venture wouldn t have been possible without them.

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JACKSONVILLE, FL – EJF Capital and Chance Partners announced that they will develop Eastborough, a two building, 226-unit multifamily community in the San Marco neighborhood in Jacksonville, FL. The Project is in an area certified as an Opportunity Zone under the Tax Cuts and Jobs Act of 2017 ( TCJA ). The TCJA offers investors attractive tax benefits to invest into Opportunity Zones to make economic growth in lower income areas.
The Project is situated on a 6.62-acre parcel and will be developed with two multifamily buildings each with four tales surrounded by a surface parking lot. Synovus Bank provided $25.29 million of construction financing to the transaction.
We have place together a winning team with EJF and Chance and we are seeing fantastic momentum in Jacksonville, said EJF Co-Founder and Co-Chief Executive Officer, Neal Wilson. We believe the growth trajectory of Jacksonville remains strong and its prospects are brilliant. The Project will benefit the San Marco neighborhood by continuing to add much needed workforce housing for hundreds of new residents. Coupled with The Exchange and Barlow, these projects will support a robust economic foundation for a growing community.
Unlike other suburban multifamily submarkets of Jacksonville, which lack walkability, San Marco is a historic, leafy neighborhood, dominated by low-density commercial development, single-family homes, and community parks and squares.
San Marco is not your typical Jacksonville neighborhood, said Jeff Rosen, Principal with Chance Partners. It is a community that is walkable, comfortable, promotes neighborhood interaction and offers a central location. It is designed to focus on the whole person and quality of life.
Rosen added, Given its proximity to the Southbank healthcare complex, downtown Jacksonville, I-95 accessibility, and the dining and social scene in San Marco, we believe the Project is perfect for young professionals.
San Marco is proximate to Southbank and its healthcare complexes, anchored by Baptist Medical Center, one of six MD Andersen Cancer Centers, and Wolfson Children s Hospital.
In contrast to other markets that are dominated by retail chains, San Marco offers eclectic and diverse retail tenants. It has also recently attracted major corporations that have been drawn by the market dynamics. Regency Centers broke ground on a Publix-anchored retail center this year located in the heart of San Marco. It is expected to open in late 2022.
Eastborough is well-located to attract renters who previously did not have new, Class A rental options in San Marco, said Asheel Shah, EJF s Senior Managing Director and Head of Real Estate Development. It is also attractive to employees who desire to cut their commute by living closer to their place of work, and satisfies the national trend toward living in urban, mixed-use communities.
The Project also benefits from the rapidly growing Jacksonville MSA, which is the fourth largest in Florida by population, with nearly 1.56 million residents. The Jacksonville region has added nearly 211,000 persons since 2010, up roughly 15.6 percent, which is more than double the national growth rate. Healthcare is projected to be one of the fastest growing sectors in the region through 2028, adding more than 15,600 jobs, according to state employment projections.

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TACOMA, WA – MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California announced their acquisition of Village on Main Apartments for $85,500,000.
The 200-unit community is one of the few multifamily additions to the Point Ruston Waterfront in Tacoma, Washington. This master-plotted community offers a lively mix of retailers, restaurants, and entertainment venues that provides a walkable urban village. The coveted local Waterwalk is a scenic waterfront promenade that connects residents to the world-class amenities Tacoma is known for – and beyond. As part of this mixed-use development, Village on Main offers residents luxury apartment living and simple access to the perks of the region’s $54B+ public infrastructure project and employer base.
“We’re thrilled to be expanding our reach in the Pacific Northwest with Village on Main,” said Mark Gleiberman, Founder & CEO of MG Properties Group. “Tacoma has tremendous potential, and we believe Village on Main provides an opportunity to participate in its continued growth.”
The seller, Point Ruston Building 7 LLC, a company owned by developer Loren McBride Cohen, was represented by Chris Ross, David Young, Corey Marx, Jordan Louie, and Michael Lyford of Jones Lang LaSalle (JLL). Financing was led by JLL Capital Markets’ Charles Halladay, Rick Salinas, and Jake Wisness.
Village on Main Apartments is the seventh property currently managed by MG Properties in the larger SeaTac metro. This marks the 17th acquisition in the last year for the company overall – totaling over $1.5 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, Colorado, and Texas. 

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