ORLANDO, FL – Elevation Financial Group, a senior and multifamily affordable housing provider, announces the successful disposition of Elevation Real Property Fund VI asset, Serenity Apartments at Columbus. The 211-unit multifamily community sold for $13 million.
Located in Columbus, Georgia, the property was bought in July 2018 for $7.6 million and was 72% occupied. Elevation recognized the immense potential in the unique mix of garden-style and larger than average townhome units as well as the prime location. Being situated within eight miles of Fort Benning Army base, three miles from Columbus State University and within minutes to many large employers, its location presented an ideal opportunity to deliver affordable and quality workforce housing to Columbus residents. After making many value-add enhancements, including the revitalization of over 50 apartment units, Elevation was able to significantly increase occupancy which remained high throughout its ownership. At the time of sale, occupancy was 96%.
“Throughout our tenure with Serenity Apartments at Columbus, our team at Elevation consistently performed above and beyond expectations. From rehabilitation and upkeep to leasing and management, I could not be prouder of the exemplary service and value that we delivered for our residents and investors alike,” said Chris King, CEO of Elevation. “As Serenity Apartments at Columbus transitions to a new owner, we can all take pride knowing that we fulfilled our mission to make safe, clean, and affordable housing for residents while delivering superb results for our investors.”
The revitalization included a complete rehabilitation of the leasing office, new carpet in all exterior breezeways, exterior painting of the townhome buildings, parking lot paving, and restoration of over 50 apartment units, 10 of which were uninhabitable.
Serenity Apartments at Columbus marks the sixth disposition for Fund VI. Properties remaining in the portfolio include a multifamily community in Alabama, one in Mississippi, two senior properties in Virginia, and one senior community in Illinois.

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WASHINGTON, DC – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced the acquisition of SomerHill Farms, a 140-unit multifamily community in Gainesville, Virginia, a suburb of Washington, D.C. The property was bought for CS1031 SomerHill Farms Apartments, DST, a Reg. D private placement.
“SomerHill Farms Apartments is next in Capital Square’s line of value-add multifamily communities for 1031 exchange and other investors seeking stable cash flow and capital appreciation,” said Louis Rogers, founder and chief executive officer of Capital Square. “The community is located in a dynamic and rapidly growing Northern Virginia suburb, just outside of Washington D.C., with robust population growth, strong rental increases, high barriers to entry, and exceptional job opportunities within commuting distance, including Amazon’s $2.5 billion HQ2 development.”
Located at 7351 Yountville Drive, the community is situated on 18.76 acres of land. Constructed in 2006, SomerHill Farms features six three- and four-tale residential buildings and one clubhouse. The community includes one-, two- and three-bedroom units ranging in size from 786 average square feet to 1,446 average square feet. Amenities at SomerHill Farms include a clubhouse, outdoor pool, dog park, fitness center, tot lot and community garden.
CS1031 SomerHill Farms Apartments, DST seeks to raise $23.2 million in equity from accredited investors and has a minimum investment of $50,000.
“SomerHill is located in the ninth wealthiest county in the nation, with a projected 3.78% average annual rent growth from fiscal year 2022 to fiscal year 2023,1” said Whitson Huffman, chief strategy and investment officer. “SomerHill Farms is a prime example of a multifamily community with value-add potential. By improving the community through light unit renovations and amenity upgrades, Capital Square is able to raise the rent over time and increase the residual value of the property.”
Gainesville is home to 48.3 million square feet of retail space, including The Grove at Gainesville, a 1-million-square-foot plotted mixed-use, retail entertainment, hotel and office space development. Located in Northern Virginia, the city offers most residents a 45-minute commute to surrounding employers, including the plotted Amazon HQ2 in Washington, D.C.
Since the company was founded, Capital Square has bought 125 real estate assets for over 2,700 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.

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AUSTIN, TX – Paving the path for continued aggressive growth in 2021, Austin, TX-based RPM (formerly known as Roscoe Property Management) and Atlanta-based CF (CF Real Estate Services) announced they have merged making a national multifamily footprint with over 84,000 units across 17 states.
The combined organization will have more than 1,800 employees with nine regional offices located in Charleston, Chicago, Dallas, Denver, Houston, Tampa, Phoenix, San Antonio, Washington D.C., a regional headquarters in Atlanta and its main headquarters located in Austin, Texas.
We are proud to merge the CF Real Estate Services brand with RPM to make one property management platform that will leave a lasting mark on the multifamily industry, said Jason Berkowitz, President and founder of RPM. We are forging a strong entrance into the Southeast and Midwest markets backed by an exceptional portfolio. This merger truly expands our geographic reach, strengthens our organizations, and provides significant opportunities for the future. While we will operate under the RPM brand nationally, leaders from both companies have formed a collective executive team that will guide the organization under our shared alignment of a ‘people-first culture . As one of the few firms operating in nearly all major US growth markets, we have become a powerhouse at the forefront of the multifamily industry.
CF Real Estate Services was founded in 2004 in Atlanta, Georgia by co-founders Byron Cocke and Brett Finkelstein. As a result of strategic mergers and organic growth over the last 17 years, their portfolio of institutional quality assets comprises over 26,000 units, including its student housing division, Campus First, which operates in major collegiate markets throughout the country.
Our combined operational scale and geographical presence will allow us to provide outsized value to our clients, investors and partners, said Finkelstein, CEO of CF.
Founded in 2002, RPM added over 19,000 units organically to its portfolio in 2020 expanding to over 58,000 units (prior to the CF merger) and had already grown into Arizona, Colorado, Wyoming and Florida. RPM is one of the largest multifamily management companies in Texas and is a NMHC Top 50 Manager in the nation.
Our growth has been a result of a focus on best practice and how to best serve our clients on a broader and deeper level while at the same time allowing tremendous opportunities for our associates across additional verticals and new markets, said Hank Farrell, Principal at RPM.

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