INDIANAPOLIS, IN -Stoneweg US, a real estate investment firm specializing in multifamily acquisitions and developments, announced its first acquisition for 2021 with the closing of Aura, M Club, and Retreat Northwest (AKA ‘Indy Portfolio ) increasing the Company s presence in Indianapolis to four properties.
Along with adding 849 units to the portfolio and expanding our presence in Indianapolis, this acquisition concludes the 1031 exchange from our successful portfolio disposition at the end of last year. The Indianapolis market has seen fantastic growth over the last 5 years, fared very well during the Covid-19 Pandemic, and is poised for continued growth and migration into the future, said Chief Investment Officer Ryan Reyes. It s a smart deal for us and a fantastic way to kick-off 2021.
Located in the Western region of Indianapolis, Aura features 125 units consisting of 1 and 2- bedroom apartments. The property has a 1970 vintage and is located near major employers such as Walmart, Amazon, Lowe s and the Indianapolis Airport providing a diverse sector of renter potential to the property. Capital expenditures, estimated at around $1MM, will focus on exterior renovations including new roofing, an upgraded playground, pool enhancements and energy-efficient LED lighting installation throughout the grounds.
Boasting 388 units and a 1979 vintage, M Club is the largest in the ‘Indy Portfolio and positioned on the Northeast side of Indianapolis. M Club offers simple access to various landmarks in the city including downtown Indianapolis, Harrison State Park, and elite retail destinations. M Club has considerable amenities including a clubhouse, dog park, and resort-style pool. Stoneweg US will dedicate ~$2.5MM in capital expenditures to further modernize the property to appeal to younger and professionals alike.
Built in 1973, and situated in the Northern region of Indianapolis, Retreat Northwest features 336 units. With its classic construction and premier location, Stoneweg US will focus on enhancing curb appeal with its Capex plot (estimated at ~$2MM) by adding an outdoor kitchen, a new Pergola, office and amenity upgrades, and lush landscaping. Interior upgrades are scheduled for hefty improvements adding modern appliances, new flooring, modern countertops and cabinets, and fresh paint to all units.
The business plot for the ‘Indy Portfolio while aggressive, is consistent with that of any other asset we buy, said Mike Cacciatore, Associate Director of Acquisitions for Stoneweg US. Our goal is to always position our investments for growth and watch them flourish; we re confident that the plot in place will do just that.
The PMR Companies, who currently manages Harrison Point, the Company s first acquisition in Indianapolis, will oversee operations for the ‘Indy Portfolio .

Powered by WPeMatico

CLEMSON, SC – Arcapita Group Holdings, the global alternative investments firm, announced the acquisition of Clemson Lofts, a student housing property at Clemson University in South Carolina, United States. The acquisition represents the latest addition to Arcapita’s growing student housing portfolio following its acquisition of Quarry Trail, a student housing property at The University of Tennessee earlier last year. These acquisitions represent a combined transaction value of approximately $120 million and bring approximately 1,500 student housing beds under Arcapita’s ownership.
Clemson Lofts is a 640-bed student housing property located approximately one mile away from Clemson University, the second largest university in South Carolina and one of the top 30 public universities in the United States. Reflecting its attractive location and affordable rents, the property maintained an average occupancy rate of 99% over the past five years and is currently 100% occupied. Arcapita completed a similar acquisition in January 2020 when it bought Quarry Trail, a stabilized 840-bed student housing portfolio serving the University of Tennessee at Knoxville, the largest university in the state of Tennessee and a member of the Power Five sports conference.
Arcapita believes the US student housing market for well-located properties that serve large public universities is poised to experience healthy growth due to their more affordable tuition levels, stable enrollment, and generally, a limited supply of undeveloped land in close proximity to campus. In addition, the US student housing industry has historically shown to be recession resilient with sustained and high occupancy levels during economic downturns. College enrollment grew through the last three US recessions partly due to the lower opportunity cost of attending college when employment prospects are less attractive.
Purpose-built student housing properties serving tier 1 public universities have also demonstrated resilience during the COVID-19 pandemic. Students have generally preferred to stay on campus despite classes moving online, and this allowed properties to maintain their pre-COVID occupancy and rent collection levels. In addition, garden-style properties such as those bought by Arcapita are likely to help facilitate social distancing measures given the lack of enclosed hallways, direct open-air access to units, and the availability of private bathrooms for each resident.
Brian Hebb, Managing Director at Arcapita, commented, “These acquisitions mark our foray into US student housing – a rental housing subsector with fantastic potential. We target assets that serve large public universities with undergraduate enrollment of over 10,000 students and are located approximately 1-3 miles away from campus. Such properties are generally priced at the middle range of the market and have demonstrated a level of acceptance among the student body due to their value-for-money proposition. The demand for purpose-built student housing has grown over the past few years due to the provision of amenities that are valued by students such as direct shuttles to campus, group study facilities, and activity centers. Purpose-built student housing currently represents less than 25% of the overall student housing market and we expect this ratio to increase over time to cater to evolving student preferences.”
Martin Tan, Chief Investment Officer at Arcapita, commented, “Our investments in student housing are a further extension of our focus on defensive sectors that are supported by long-term trends. With over 20 million university students and less than one million purpose-built student housing beds, the US student housing industry is in its early stages of supply and has the potential for considerable growth. We look forward to working closely with our operating partners to build a sizable and diversified student housing portfolio across the US.”

Powered by WPeMatico

PORTLAND, OR – Mission Rock Residential, a Denver-based multifamily property management company, is further expanding its Northwest presence, announcing a new management contract for the Arlo Apartments in Portland, Oregon. The company has been issued an agreement for the management of 175-unit community by Hamilton Zanze Real Estate Investments.
Located in the northern end of the city, and tucked in between the Willamette and Columbia Rivers, the apartment community sits in the Arbor Lodge neighborhood just 10 minutes from the city center. The location is also less than 20 minutes away from the international PDX airport. The midrise-style apartment community was just recently built in 2019 on a one-acre site, with walking access to groceries, dinging, shopping, and social destinations.
“This sleek community embodies the lifestyle that Portland has become so globally well-known for with organic touches, and stylized, quirky details,” said Meredith Wright, President of Mission Rock Residential. “With an outstanding location, modern design, and rich amenities, ArLo is a community rich with personality and Mission Rock looks forward to further enhancing the resident’s rental experience. We look forward to bringing our highest caliber of multifamily management service to this standout community.”
ArLo’s apartment residences include luxury finishes such as stainless-steel appliances, mahogany kitchen cabinets with upgraded bronze pulls, designer tile backslash, and white quartz kitchen counter tops. Walk-in closets and washers and dryers are also included in each apartment home rounding out a stylish space to live, work, and play.
The apartment community’s state-of-the-art amenity package includes bike storage, a rooftop lounge, an on-site dog park, secure parking garage, a game lounge, a grilling area with an outdoor deck, and an indoor/outdoor fitness center complete with cardio and strength-training equipment and a yoga studio.
The Portland, Oregon market has been a thriving success tale of growth and opportunity in the United States for many years. Technology is a major component of the city’s economy, with more than 1,200 technology companies existing within the metro. This high density of technology companies has led to the nickname Silicon Forest being used to describe the Portland area. Major employers include some of the nation’s top athletic and outdoor gear companies, and the maritime industry is also a major driver for the market.

Powered by WPeMatico