NAPERVILLE, IL – MZ Capital Partners, developer of the Vantage Naperville Apartments at 1350 E Ogden in Naperville, Illinois, has announced a key milestone in its new “attainable housing” concept, with the full lease-up of the 112-unit, full amenity apartment community within three months after opening.
Without tax credits or subsidies, and setting no income cap for renters, the Vantage represents a new national model for attainable housing where the market, not government, determines rent.
According to Michael H. Zaransky, founder and managing principal of MZ Capital Partners, “It’s the first Chicago suburban experiment with this type of product. There’s a broader problem nationally of providing enough rental housing at an affordable price point. Every caring community that’s thinking strategically about their future wants to solve that problem.”
Built on the site of a dilapidated motel, the Vantage proves how city governments can work with developers to supply housing to those who need it most. The project passed unanimously without significant community opposition when it came before the Plotting Commission and City Council.
For Naperville Mayor Steve Chirico, the Vantage “is an investment opportunity that checks all the boxes of the city’s goals: adding affordable housing that’s also profitable. It’s a win-win for everybody.”
Situated at the gateway to the revitalized Ogden Area Corridor, the Vantage offers bright studio and 1-bedroom convertible apartments with 9-foot ceilings, in-home full-size washers/dryers, and stainless steel appliances at monthly rents as low as $950. Featuring private work from home office suites, 24/7 smart package delivery and pickup, high speed fiber optic internet connection, and balconies in select units, the Vantage represents what a community might look like in a post-Covid world.
Christine Jeffries, President of Naperville Development Partnership said, “The Vantage Apartments are ahead of the pack by making an environment that provides for remote working, spacious social interactions, outdoor amenities, and a high-end exercise facility.”
To commemorate the opening of the Vantage in April 2021, and to reinforce its commitment to the Naperville community, MZ Capital Partners donated to the Northern Illinois Food Bank to feed a local family of four for a full year.
“We firmly believe in the obligation to give back, support the most vulnerable in our community, and ‘do excellent while doing well,'” says Brad Zaransky, MZ Capital Partners principal.

Powered by WPeMatico

DALLAS, TX – Kinloch Partners announced it has completed the buy of multiple lots in Royce City, Texas, on the Eastern part of the Dallas Metroplex. The company plans a Build-to-Rent subdivision, providing affordable Single-Family Rental (SFR) homes to this quickly growing region.
Kinloch Partners plans to aggressively expand its holdings in the Dallas area, with multiple Build-to-Rent projects totaling 500 newly SFR homes in the next 18 months. The homes will range from 2,000 to 2,500 square feet and will be priced from $200,000 to $300,000. Rent will be under $2,000 per month.
“Dallas has a high-growth trajectory with a stable workforce, but like many markets across the country, affordable housing remains a challenge,” said Bruce McNeilage, co-founder and CEO in Kinloch Partners. “SFR Build-to-Rent homes provide an affordable option for people who want a single family home, but might find it challenging to find the right home for buy.”
Build-to-Rent subdivisions are an emerging trend in real estate development, attracting investors from Wall Street hedge funds, pension funds and international entrepreneurs. There are more than 72 million Millennials born between 1981 and 1996 in the United States. Many are coming into peak family raising years, want to buy a home, but are often saddled with high student loan debt. This makes home ownership challenging and is sparking a rise in Build-to-Rent.
Kinloch Partners is a pioneer in Build-to-Rent and its portfolio of homes across the Southeast and soon to be Texasprovide an brilliant example of how the concept works.
“We know the path to traditional home ownership is just out of reach for many people today,” McNeilage said. “Newly constructed single-family rental homes are an brilliant alternative for people who still want to rent, but also want the amenities of a family home. We’re looking forward to expanding this concept in Dallas.”

Powered by WPeMatico

ATLANTA, GA – FCP announces the acquisition of Westwood Glen, a 247-unit apartment community in Atlanta, GA for $24.5 million. The acquisition marks FCP’s 21st investment in Atlanta and the 9th in the city’s Westside.
“Located in the same submarket as two other FCP communities, Westwood Glen is a well-maintained asset in a location primed for continued growth,” said FCP’s Scott Reibstein. Reibstein continued, “FCP has a strong presence in West Atlanta, which is proximate to the thriving South Fulton industrial corridor, one of the largest corridors of its kind in the U.S., generating robust job growth and demand for housing.”
Westwood Glen is located at 1225 Fairburn Road, SW and features one and two-bedroom floorplans with hardwood floors, pool with sundeck, and a children’s playground in a lush, wooded setting. FCP plans to improve amenities at the community, including the addition of a dog park, package lockers and grilling areas.
FCP extends its appreciation to Paul Vetter and Andrew Mays of Berkadia for their representation.

Powered by WPeMatico