AUSTIN, TX – Korman Communities, in partnership with Verde Capital, has completed the buy of its first property in Austin, Texas. The groundbreaking new, 226-unit, Class AA property, AVE Austin, offers a unique flexible-stay living solution in North Austin, conveniently situated between Downtown Austin and The Domain.
This acquisition represents the first of what we anticipate will be many new ventures in this region, says Bradley Korman, co-CEO of the Philadelphia-area-based Korman Communities. We continue to focus on markets that best reflect where people want to live and work, purchasing and developing state-of-the-art residential properties.
The investment in AVE Austin aligns with Verde Capital s continued pursuit of opportunities in high-growth urban and suburban markets.
With its proximity to major educational institutions, medical systems, and technology jobs, this location offers the sustainable demand drivers that will make AVE Austin a sought-after property for decades to come, says Jake Reiter, president of Verde Capital.
AVE Austin features studio, one-, two-, and three-bedroom spacious luxury apartments and fully furnished apartments coupled with unparalleled, on-demand business and resort amenities, and a dedicated service team on site seven days a week.
Austin is seeing an influx of new residents every year due to its growing job market, so there is a real need for comfortable, flexible living options, says Lea Anne Welsh, COO of Korman Communities and president of its AVE brand. We ve got them covered at AVE Austin – whether they need a place to live month-to-month with furnishings while they get situated or they re looking for an unfurnished apartment longer term.
All residents delight in complimentary, on-demand access to resort and business amenities featuring a sparkling pool and grilling stations, state-of-the-art fitness center, tranquility courtyard with hammocks and a fire pit, a rooftop lounge with downtown Austin views, pet spa, cyber lounge, flex workspace, and private meeting rooms. AVE s professional Resident Services team is on site seven days a week to help with day-to-day living needs and to make a sense of community through concierge support, events, and partnerships.
Our goal is to manage first-class communities where people can live, work, and play, says Welsh. Everything we offer – from our attentive service, quality apartments, on-demand amenities, and community events, is to ensure our residents are comfortable and feel taken care of.
AVE Austin is centrally located in North Austin, walking distance from the Red Line providing service from Leander to Downtown with stops at UT-Austin and The Domain®. This state-of-the-art residential community is convenient for commuting, offering simple access to highways 35 and 183.

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SPARKS, NV – MG Properties Group, a private San Diego-based real estate investor and operator, is expanding its presence in the larger Reno/Sparks metro with the acquisition of Parq Crossing Apartments. MG Properties Group bought the property off-market directly from the developer.
“We are pleased to be further growing our presence in Sparks,” said Mark Gleiberman, MG Properties Group’s Founder & CEO. “The Reno/Sparks metro has experienced remarkable apartment fundamentals driven by continued employment and population expansion to the area.”
Built in 2020, Parq Crossing, is a 288 unit, 3-tale garden style community located near the I-580, I-80, and U.S. 395, providing access to a number of employment centers throughout the metro including Tahoe-Reno Industrial Center and Reno Technology Park. MG Properties Group owns and manages six other apartment communities in the larger Reno metro area and will be able to enhance management through economies of scale.
MG Properties Group has bought 16 communities in the past year totaling over 4,900 units and over $1.5 billion in combined value. The company is targeting further acquisitions in California, Washington, Oregon, Arizona, Nevada, Utah, Colorado, and Texas.
The seller was Guardian Capital out of Carlsbad, CA. The property was financed with a loan by Key Bank in the amount of $48.8 million arranged by Brooks Benjamin.

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HOUSTON, TX – Funding has been secured to buy and start the improvement of The Life at Sterling Woods (formerly known as Villas on Winkler) complex into a 234-unit senior/ affordable multifamily apartment community in Houston, Texas. The project is being rehabilitated by Olive Tree Holdings. Villas on is Olive Tree’s 33rd multifamily acquisition and the 13th in the Houston market.
“Olive Tree’s mission has centered on finding and improving existing assets that can provide low-income quality housing to families throughout the South. With The Life at Sterling Woods, we now manage over 7,000 units of affordable housing nationally, meeting a critical need in these economically challenged communities. The financial partnership between Olive Tree Holdings and the American South Real Estate Fund (ASREF), enables us to quickly buy and initiate project construction. This expedites our pursuit of developments that are making a difference in the lives of the seniors and families in need,” said Ian Bel, Managing Member, Olive Tree Holdings.
American South Real Estate Fund II (ASREF II) is the financial partner helping to bring this project to fruition with its $4.8 million investment in the project. ASREF II is an impact fund dedicated to the revitalization of distressed communities of color throughout the South. Previous to ASREF II, SDS Capital Group and Vintage Realty Company managed ASREF I, a Fund that invested in two Olive Tree low-income housing projects located in the Houston metropolitan area.
“We are excited to announce this investment. The 234 units of quality low-income housing underscores how our ASREF/Olive Tree partnership is making a real difference in renovating and preserving much-needed affordable residential units for Houston residents,” said ASREF II Managing Partner Deborah La Franchi, Founder and CEO, SDS Capital Group. “With the acquisition of this latest project, our collaboration will have developed or preserved a total of 855 units for low-income seniors and families.”
ASREF II follows the impact investment strategy of ASREF I, which committed $58 million into projects in 10 Southern states.
American South Fund Management, LLC (ASFM) is a partnership between Los Angeles-based SDS Capital Group and Vintage Realty Company of Shreveport, LA.

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