FLAGSTAFF, AZ – Apartment Ventures, NNC announced the recent acquisition of Village at Aspen Place, a 222-unit Class A mixed use luxury apartment. Built in 2015 and located within Aspen Place at the Sawmill, Flagstaff s premier lifestyle center, the location features some of the finest shopping, restaurants, and service businesses in the city.
Apartment Ventures succeeded in purchasing this asset in a highly competitive field due to their 35 year plus history in investing in the Southwest, their proven underwriting metrics, and their extensive local market knowledge and deep regional relationships. Though many firms have went into the Southwest market in recent years, Apartment Ventures has been investing in the area for over three decades, gaining knowledge newer firms to the market lack. These long-term and well-developed relationships played an integral part in Apartment Venture s acquisition of the property.
The $64.5M transaction marks Apartment Ventures fourth Southwest institutional level acquisition in as many years, bringing their Southwest portfolio close to 1,000 units, representing near a quarter billion dollars of investment.
With this new acquisition, Apartment Ventures continues to do what they do best: make targeted, well researched investments in known markets, leading to successful long-term relationships that produce solid returns.
According to John Nunn, Principal at Apartment Ventures, NNC, Our acquisition of this property was possible due to our reputation, our relationships, and our deep knowledge of the Southwest market. These aspects are all value adds for our investors and have helped us become a boutique firm that is able to compete with institutional-level investors. We are extremely proud of this most recent buy—it continues to solidify our long-standing reputation in the region.

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WEST PALM BEACH, FL – Index Investment Group and Navarro Lowrey announced the unanimous vote (7-0) of site plot approval by the City of West Palm Beach Commission for their newest multifamily rental community Centrepark Residences in the heart of West Palm Beach, Florida.
Centrepark Residences will be a state-of-the-art multifamily rental community targeting young working professionals, located just outside the Downtown West Palm Beach city core, with convenient access to major highways and employment centers as well as protected bike lanes linking Centrepark Village (as Centrepark will now be known) to the Warehouse District and Howard Park. The property is located at 1885 Centrepark Drive East, West Palm Beach.
Navarro Lowrey and I personally have been involved with Centrepark since 1994. First to revive it as an acceptable address for West Palm Beach companies, second to develop hundreds of thousands of square feet of office workspace, and now finally to complete the park s transition to a right mixed-use community which we ll refer to as Centrepark Village . I am honored to be partnering with Index Investment Group on this venture. They bring a wealth of experience successfully developing thousands of multifamily units in Florida which perfectly complements our West Palm Beach track record. -Frank Navarro.
Index Investment and Navarro Lowrey bought the property in August 2019 and are looking forward to breaking ground in the coming months with anticipated completion first quarter 2023. The property is a 2.2-acre parcel just down the street from well loved local entertainment and restaurants destinations within the Warehouse District and the Downtown. The development features 231 units of multifamily rental apartments averaging a spacious 924 SF. The building will be 8 tales and feature a 7th floor pool deck, 24-hour business/conference center, integrated café/retail, outdoor fitness lawn, club room & sunset lounge, storage, bike repair & storage, package & food delivery areas, security via access control & CCTV as well as landscaped walking trails and greenways.
Index has made significant investments in the Florida multi-family rental market and commercial space. The Jupiter-based real estate investment company has ongoing and completed twenty-two developments across Central Florida to The Keys. Navarro Lowrey has owned Centrepark since 1994, developing, leasing, and managing a portfolio of over 500,000 RSF of office space within the Centrepark Office District.

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BERKELEY HEIGHTS, NJ – Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., announced it has broken ground on Modera Berkeley Heights, a luxury apartment community located approximately 26 miles west of New York City.
The wrap-style community, which will add 173 apartment homes to the Township of Berkeley Heights, will sit just north of Interstate 78 (the Phillipsburg-Newark Expressway) and moments south of Springfield Avenue, the primary retail corridor of the neighborhood. The convenient location provides quick access to Interstate 287 and Route 22, which serve as key thoroughfares in the northern New Jersey and NYC area. First go-ins are anticipated for late 2022.
“Mill Creek has always admired the Union County market as a whole and Berkeley Heights in particular,” said Rich Murphy, managing director of development of New Jersey for Mill Creek Residential. “It is one of the most charismatic communities in the northern part of the state and has a limited supply of luxury apartment-living options. We look forward to joining the charming neighborhood and helping to address the emerging demand for quality housing.”
Situated at 91 Lone Pine Drive, Modera Berkeley Heights is surrounded by a vibrant downtown area, high-ranking school systems and multiple shopping, dining and entertainment options. The community also is within five blocks of the local New Jersey Transit station, which provides expedient connectivity to the greater NYC area.
Modera Berkeley Heights will consist of one-, two- and three-bedroom homes with select den layouts. Community amenities will include an outdoor swimming pool, outdoor deck with barbecue area and picnic tables, resident clubhouse with demonstration kitchen, game room, business center with resident working pods, coffee bar and a club-quality fitness center with a group fitness area. Residents will also have access to controlled-access garage parking, digital package lockers, dedicated bike storage and additional storage options.
Apartment interiors at the pet-friendly community will feature nine-foot ceilings, wood-style flooring, built-in shelves, energy-efficient stainless steel appliances, quartz countertops, breakfast bars, tile backsplashes, smart thermostats, walk-in closets and in-home washers and dryers. Bathrooms will include tile shower surrounds, double vanities and linen closets, and select homes will offer green space views.
Modera Berkeley Heights joins Mill Creek’s growing contingent of New Jersey development communities, which also include Modera 44, Modera 55, Modera Lofts and Modera Woodbridge.

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