LANDOVER, MD – Mission Rock Residential, a Denver-based multifamily property management company, is announcing another new management contract in the D.C. metro area, this time for Summerfield at Morgan Metro Apartments in Landover, MD, formerly operating as Century Summerfield at Morgan Metro Apartments. Mission Rock has been issued an agreement to manage the 478-unit community by Hamilton Zanze Real Estate Investments.
Located adjacent to the Morgan Boulevard Metro Station, this apartment community is just 30 minutes from Downtown D.C. via the Metrorail train. The location is also less than 30 minutes away from the Ronald Raegan Washington National Airport. Originally built in 1969, the garden-style apartment community has been updated in recent years and offers a mix of one, two, and three-bedroom options.
“This apartment community is well-designed to serve the D.C. metro area’s growing housing needs,” said Meredith Wright, President of Mission Rock Residential. “From transit access to walkability and quality living, we’re excited to bring this community into the Mission Rock family and offer its residents the highest caliber of management services and customer service we’ve become so well-known for.”
The Summerfield at Morgan Metro residences are pet-friendly, and each home features vaulted ceilings, crown molding, and a private patio or balcony. Full size washers and dryers are also provided in each apartment home. New, stainless-steel appliances, wood-style flooring, fireplaces, and ceiling fans are included in some updated apartments within the community. Further updates to the remaining apartment homes are expected in the years ahead.
The apartment community’s amenity package includes a coworking space, clubhouse, swimming pool sundeck, an expansive fitness center, car care center, and controlled access parking garages.
The Washington D.C. metro area has seen skyrocketing growth since the announcement of Amazon’s new HQ2 presence plotted for Arlington, Virginia. Located in Prince George’s County, Landover is a highly residential community. The city is also home to FedEx Field, the home of the Washington NFL football team. The city boasts high levels of transit access, making regional travel especially simple for workforce commuters.

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MODESTO, CA – Graceada Partners and Osso Capital announced the acquisition of The Edge at Lakewood on 1401 Lakewood Ave in Modesto, California. The 196-unit apartment community is located a few miles outside of downtown Modesto and within walking distance of Lakewood Elementary School.
“We continue to see fantastic potential in the Northern California region and a fantastic deal of upside in multi-family assets here. And we’re excited to be working alongside a trusted partner like Osso Capital on this deal,” said Joe Muratore, CCIM, Principal with Graceada Partners. “As a Modesto-based firm, this property has been on our radar, and we thought this was an ideal acquisition given our knowledge of the market and ability to add value.”
Built in 1985, the Edge at Lakewood was partially renovated by the former owner between 2019 and 2020. Graceada and Osso plot to continue the renovation and add amenities, such as a renovated clubhouse and fitness facility, pet park, and various sustainability features.
“We look forward to making The Edge a cutting-edge example of sustainability by adding electric vehicle charging stations, community Wi-Fi, and solar power,” said Olivia John, Founder and CEO of Osso Capital. “We have strong conviction in the Modesto multifamily market and the Central Valley region more broadly, and we are excited about expanding our presence in the area.”
Located 90 minutes east of the Bay Area, Modesto is a growing city with high demand for quality housing. The Lakewood neighborhood of Modesto boasts one of the highest median household incomes in the region at $83,000.
This acquisition is an investment from Graceada Partners Fund II and Osso Multifamily I.

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KANSAS CITY, MO – The Cordish Companies announced that the keenly awaited $140 million Three Light Luxury Apartments will commence construction this May and that construction on the conversion of the historic Midland office building into the 139-unit, affordably priced Midland Lofts will start this summer. Following the success of its predecessors, One Light and Two Light Luxury Apartments, which have remained 95% occupied throughout the pandemic, Three Light Luxury Apartments will introduce the next stage of urban luxury living in the Power & Light District in downtown Kansas City. Together, these projects will make over 1,000 new construction jobs. Today’s announcements represent a fantastic sign of optimism for the future of downtown Kansas City after a hard year in the midst of the pandemic.
“We are extremely excited to commence construction on Three Light and The Midland Lofts and bring two cranes to the Power & Light District, a sign of new growth and energy downtown following an incredibly challenging year,” said Nick Benjamin, executive director of the Power & Light District and managing director of Multifamily Development for The Cordish Companies. “Each of these projects will be an vital step forward in getting back to the business of downtown’s renaissance and will make over a thousand new construction jobs.”
Three Light will sit at the corner of Truman Road and Main Street at the vibrant intersection of the Power & Light District and Crossroads Art District and will bring another 450 residents to downtown. The 26-tale, 288-unit building will feature 19 floors of studio, one-bedroom, two-bedroom and penthouse apartments, a seven-tale garage with 472 parking spaces, and 7,600 square feet of retail space on the first floor.
“It’s been a fantastic honor to have built with The Cordish Companies on such landmark projects that have changed the downtown Kansas City skyline,” said Jim Coulter, vice president of JE Dunn Construction. “From the vision the company had with the Power & Light District, to One Light, Two Light and now Three Light Luxury Apartments, we are grateful for the relationship we have with The Cordish Companies and the impact the company has had on Kansas City. We look forward to seeing the rest of the company’s vision come to life.”
Three Light will boast over 30,000 square feet of amenities that will rival any apartment or condo building anywhere in the United States, including a deck overlooking 14th Street, an infinity pool, bar, demonstration kitchen and theater room. Additionally, Three Light will have a sky bridge directly above Walnut Street linking it to Two Light, allowing residents of both towers to share their buildings’ social amenities.
The Midland Lofts will sit in the midst of the burgeoning downtown Power & Light District neighborhood, directly connected to the Midland Theater and steps away from Cosentino’s Downtown Market, Onelife Fitness, the KC streetcar line and dozens of restaurants, shops and entertainment venues. An underutilized historic jewel that has been vacant for more than 20 years, the renovated building will include 139 units available for rent featuring multiple open-concept studio and one-bedroom floor plans. Pricing for the units in The Midland Lofts will start at $700 per month.
“We are keen to bring the historic Midland building back to life as Midland Lofts,” said Marnie Sauls, executive director of Residential Management for Cordish Living. “The residential renaissance of downtown Kansas City started with historic conversions and we reckon it is fitting as we start this next phase of the renaissance that we are adding both high-rise new construction and a historic renovation of the highest quality to the Power & Light District.”
Amenities at The Midland Lofts will include an impressive street-level lobby with large windows bringing in natural light, and multiple seating areas for conversation and entertainment, including a coffee bar and entertainment kitchen at the corner of 13th & Baltimore. There will also be a conference room, fitness center, music room, theater, rooftop deck, and various amenity spaces spread throughout the building for ease of resident access.
Local Kansas City architecture and design firm Helix is the project architect for The Midland Lofts. Helix was also the project architect for the historic renovations of the Midland Theater and Mainstreet Theaters in the Power & Light District. RD Jones Interior Design is the interior designer for The Midland Lofts amenity spaces and Three Light. Hord Coplan Macht, the project architect for Two Light, is also the project architect for Three Light.
The architecture and the interior design of The Midland Lofts reflect the rich history and unique character of the building and theater while channeling the upscale finishes and design of One Light and Two Light. While the pricing for apartments in The Midland Lofts will start at $700 per month, the level of end, amenities and attention to detail at The Midland will meet the same high bar as One Light, Two Light and Three Light.
“The Midland Lofts renovation is a significant step in the direction of making downtown KC more broadly accessible to the downtown workforce,” said Emelyna Aurich, director of Property Management for Cordish Living. “We are extremely excited to be introducing so many apartment units to the Power & Light District that are priced below $1,000 per month and we firmly believe The Midland Lofts can be a catalyst for the development of more moderately priced apartment units downtown – both growing our density and making the community more affordable.”
Plans for these projects are more robust today than what was originally outlined in the agreement between The Cordish Companies and the city of Kansas City, Missouri. Original plans called for Cordish to build 68 apartments within the Midland Office Building. The revised plans have 139 total units, and Cordish agreed that one-third of the units in the Midland would be affordable for renters making 80% of the area median income. The updated program for The Midland Lofts has all units priced below that threshold. In addition, 20% of the units in Three Light are priced below the 80% of AMI threshold.
Three Light brings the total amount of streetcar-related investment in downtown to more than $1.1 billion and brings to more than 7,500 the total number of market-rate new construction downtown apartments announced since the beginning of construction of both the streetcar and One Light Luxury Apartments.
Three Light is expected to break ground in May 2021 and be completed in May 2023. Renovations of the 12-tale Midland Office Building are expected to start in Q3 2021 and will be completed in Q4 2022.

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