ARLINGTON, VA – The Michaels Organization has been selected by Marymount University as its property management partner for The Rixey in Arlington, Virginia. Marymount University and Michaels Student Living will co-manage leasing efforts and solely handle the operations and resident life program.
Located in the Ballston neighborhood of Arlington, the 267-unit property was originally opened in 2017 as a conventional, multifamily apartment community with ground-floor retail space. Marymount University bought The Rixey in February 2019 in order to provide well-located and competitively-priced apartment-style housing suitable for upperclassmen and graduate students, as well as faculty and staff.
Marymount University and Michaels Student Living are currently in the process of transitioning The Rixey to a 502-bed college-affiliated student living community. Residents must be matriculating students at Marymount University or one of the 17 other colleges or universities that are members of the Washington D.C. Consortium of schools. Affiliated faculty and staff are also eligible to lease apartments at The Rixey.
“This fully furnished all-inclusive housing model provides a quick, affordable and viable solution for neighboring colleges to provide contemporary apartment-style housing for their students,” said Michelle Dixon, Vice President, Michaels Management, Student Living. “We look forward to providing an exciting and comfortable live-learn home for all the residents at The Rixey.”
The conversion to the all-student living environment includes leasing by the bed, rather than by the unit, a preferable leasing model for students, and will accommodate more than 500 residents in a mix of studio, one-bedroom and two-bedroom units. Convenient street-level retail services include Northwest Federal Credit Union and Starbucks.
Property amenities include fully-furnished apartments, high-speed Wi-Fi, outdoor fire pit with cozy, semi-private cabanas, rooftop spa and top of the line Technogym cardio and conditioning equipment.

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MESA, AZ – Local real estate developer, Bela Flor Communities, announced Bella Victoria, a smart-tech, luxury apartment home community located at 1350 S. Ellsworth Road in Mesa, Arizona, a 2019 WalletHub top-ten city.
Each of the 236 units has a private, direct-access garage and a dedicated 220-volt circuit to charge electric vehicles from Tesla, Porsche, Nissan, Audi, and Volkswagen. In addition, the Energy Star certified smart homes include Nest thermostats, LED lighting, natural gas ranges and electric, tankless water heaters by TruTankless with a 99% efficiency rating, on-demand heating and a smart app for the ultimate in control. Finally, residents can stay connected to their world via gigabit fiber optic networks, HD cameras and high-speed wireless access points found around the property.
“If you have an EV, living at Bella Victoria is the pinnacle of convenience. No need to waste your time or range trying to find a public station. Every home has its own charging outlet in the garage so you can relax inside while your battery recharges outside,” states Hudd Hassell, President of Bela Flor.
Lacy Hillard, Community Manager, says, “Bella Victoria is well-located near major freeways and shopping malls and maintains the highest standards. We proudly offer spacious two- and three-bedroom condo homes ranging from 1,000 to 1,650 sq. ft. in an inviting setting. As a non-smoking and pet-friendly community, our goal is to ensure you delight in your time here.”

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BEVERLY HILLS, CA – Global real estate investment company Kennedy Wilson (NYSE: KW) has completed the sale of Pioneer Point, a wholly owned 294-unit multifamily community with 35,000 square feet of fully leased commercial space, for $130 million to RealStar, a real estate investment and management company focused on the rental residential, hospitality and alternative asset classes. Pioneer Point, located in the London suburb of Ilford, was unlevered and the $127 million of net proceeds from the sale will be recycled into new investment opportunities.
Kennedy Wilson bought the non-performing loan secured against the freehold interest of Pioneer Point in May 2015 and took direct ownership in February 2016, implementing an ambitious asset management program and transforming the property to materially improve occupancy and more than double the NOI.
This program included lengthening leases in the north tower, commissioning and leasing the empty south tower and converting vacant ground floor space to an enhanced amenity offering including a dedicated on-site concierge and property management suite as well as resident lounges, meeting spaces and work pods, a silent lounge, entertainment spaces with open plot kitchen and dining rooms, a kids zone, games room and cinema.
Since opportunistically acquiring Pioneer Point, we executed a wide ranging, value enhancing asset management program that place a spotlight on the breadth of our asset management expertise and brought new life to this landmark building, said Mike Pegler, Head of UK at Kennedy Wilson. The renovations, top-tier management and continued demand for rental housing in this local market resulted in a strong total return to Kennedy Wilson as we continue to focus on disposing non-core assets, recycle capital into other investment opportunities and to fund existing development projects. We are delighted that a long-term multifamily operator will continue delivering a positive experience for the residents of Pioneer Point.

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