KNIGHTDALE, NC – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, Township Capital, Inc., and a private equity real estate fund advised by Crow Holdings Capital announced the joint-venture acquisition of the 304-unit conventional multi-family housing complex, View at Legacy Oaks, for an undisclosed amount.
We have been working with Crow Holdings over the past nine months to identify value-add and core+ multi-family acquisitions in key southeastern markets, said Susan Folckemer, chief acquisitions & development officer, TPCO. This is our ninth joint-venture with Crow Holdings, and we look forward to expanding our investments with them and adding to our market-rate portfolio. We anticipate that this will be the first of several market-rate acquisitions and development announcements this year.
We continue to seek best-in-class partners such as The Preiss Company and look forward to more acquisitions in the coming months, said Matthew Gorelik, CEO, Township Capital, Inc. When motivated parties come together, we collectively can go quickly to buy the strongest of assets.
Located at 1150 Baxter Lane, the complex offers 1-, 2- and 3-bedroom apartments with features including walk-in closets, in-unit washer & dryer, arched doorways, crown molding, patios and sunrooms. Additional options include attached garages, upgraded finishes and additional storage units.
Communal amenities include an oversized resort-style pool and sundeck, outdoor kitchen, 24-hour fitness center, playground, car care center and dog park. Additionally, residents can delight in the proximity to I-540, as well as numerous shopping, entertainment and restaurant venues.
TPCO will invest significant capital to upgrade the View at Legacy Oaks. The improvement program will consist of clubhouse and outdoor space renovations, new exterior paint and flooring, cabinet, appliance, counter and light fixture upgrades to the community over an 18-month period.
The View at Legacy Oaks already is a highly-rated community in this submarket, and we’re excited to bring even more value to our residents with our plotted renovations to the interiors and amenity areas, said Adam Byrley, COO, TPCO. We believe our best-in-class management team will make a unique and memorable living experience for existing and future residents.

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EL SEGUNDO, CA – Griffin Capital Company, a leading privately-held alternative asset manager, and Legacy Partners, a privately-owned national multifamily development and management firm, announced the sale of MODA at Monrovia Station ( MODA ), a 261-unit, Class A multifamily community located in Monrovia, California.
The property was bought for $100 million by Opportunity Housing Group as a property administrator for the California Statewide Communities Development Authority (CSCDA). Legacy Partners developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners. Legacy will continue to manage the community following the sale closing.
This successful disposition confirms our strategy of developing in-fill Class A apartment communities proximate to major employers with simple access to public transit, said Eric Kaplan, President of Griffin Capital Private Equity. The property was over 90 percent leased at the time of sale, and the sale price generated an attractive risk-adjusted return for our investors.
Griffin Capital has been a fantastic long-time partner of ours, said Timothy O Brien, Senior Managing Director of Legacy Partners. Our MODA community has been highly successful, and exemplifies the need for and interest in transit-oriented developments. We look forward to continuing our relationship with Griffin as we expand our development and property management services throughout the country.
Adjacent to the Gold Line at Monrovia Station, and less than one mile from Ancient Town Monrovia, MODA features one- and two-bedroom residential units with two landscaped courtyards which feature a pool and spa, highly-amenitized kitchens, barbeque areas, fire pits, and a dramatic 4,000-square-foot rooftop terrace.
Griffin Capital and Legacy were represented in the sale by Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap.

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WASHINGTON, DC – Wood Partners, a national leader in multi-family real estate development, announced the development of its newest luxury residential community – Alta 801 – in Washington, D.C. Construction is underway and the community is scheduled to open in 2023.
Once complete, Alta 801 will feature 327 units comprised of studio, one- and two-bedroom apartment homes including premium penthouse units. The apartments will feature two designer color palettes and include stylish open living and dining areas with hardwood-inspired flooring throughout the homes. The kitchens will feature movable kitchen islands and stone countertops, upgraded stainless steel appliances, upscale cabinets, and designer tile backsplashes. All units will include full-size washer-dryers and select units will offer walk-in showers and private balconies.
The community will feature a variety of high-end amenities that will set it apart in the market, including a rooftop lounge with an indoor-outdoor bar and a wine tasting parlor featuring a gorgeous view of the US Capitol and Downtown Washington D.C. Residents will also be able to delight in two outdoor courtyards with multiple grilling areas and a pool deck with a world-class infinity-edge pool and semi-private cabanas.
Additionally, the community will include a co-working area with multiple conference rooms, a fitness center including a yoga studio as well as a pet spa, bike storage and repair center, package storage with cold storage for perishables, a guest suite, electric car charging spaces and concierge services.
“What really drove our choice to build in this location was the exceptional walkability and convenience that the community will offer to future residents,” said Scott Zimmerly, Executive Managing Director at Wood Partners. “Especially for professionals who work in Washington, D.C., Alta 801 will offer a live, work, play living experience providing simple access to all of the jobs, entertainment and local attractions the region has to offer.”
Located at 801 New Jersey Avenue NW, Alta 801 will be within walking distance to all five of Washington, D.C.’s Metro lines at various transit hubs including Gallery Place-Chinatown, Metro Center, Mount Vernon Square, Judiciary Square and Union Station. The property is also a three-block walk from Union Station, which offers additional transit options including Amtrak, MARC and VRE regional commuter train lines.
The community will offer additional walkability to world class retail, entertainment and nightlife attractions, including Capital One Arena, CityCenterDC – offering high-end retail and restaurants, and the Shaw/14th Street neighborhoods that feature numerous restaurants, bars and nightlife options.
Additionally, the community will be on the eastern edge of the Mount Vernon Triangle neighborhood which is known for its unique mix of historic and modern buildings, diverse cultures, restaurants and experiences. Also close by is Capitol Crossing, a 2.2-million-square-foot mixed-use development that will feature a variety of retail, businesses and hotels that is expected to bring nearly 8,000 new jobs to the neighborhood. As part of this new development, well-known sushi chef Makoto Okuwa is opening a new, highly-anticipated, Japanese food hall that will attract foodies from all over.
Must-see national landmarks also within walking distance of the community include the US Capitol, Smithsonian Museums, several National Monuments and the National Mall.

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