CHICAGO, IL – CA International, the international division of CA Ventures, a U.S.-based real estate investment management company, announced it will invest $325 million to expand the firm s multifamily and student housing presence in Latin America, specifically in the Mexico cities of Monterrey, Mexico City and Merida.
Latin America continues to be a high-growth region that has attracted investors looking to buy or develop new rental communities, particularly near major universities as housing preferences evolve, said Tony DiBiase, principal of CA International who has led the division since its inception in 2013. As a pioneer of purpose-built student housing in this region, we ve worked hard to collaborate with local stakeholders and investment partners in each country to bring quality product to market, tailoring each development to the needs of the local student population. CA International s flagship projects are changing how Latin America views student housing, offering students the chance to live away from home during their studies to gain independence and build lifelong friendships.
CA International currently has four fully operational projects in Latin America: LivinnX 18, a 123-unit, 413-bed community in Bogotà, Colombia; LivinnX 21, a 135-unit, 486-bed community, also located in Bogotà; LivinnX Barranquilla, a 162-unit, 575-bed community in Barranquilla, Colombia; and LivinnX Santiago, a 144-unit, 410-bed community in Santiago, Chile. CA s first two projects, LivinnX 18 and LivinnX Santiago, are over 93% occupied, while LivinnX 21 and LivinnX Barranquilla, which were completed in the last two years, are projected to be over 90% occupied within the next 12 months, demonstrating strong market reception. CA International has six additional projects in Mexico, Chile and Colombia slated to start this year.
These purpose-built student accommodations, in their various forms, are being absorbed by the Latin American market at increasing levels as the needs and wants of young people everywhere continue to change, added DiBiase. CA tapped into this trend early on with fantastic success, and we continue to build on that proven model.
Underscoring their impact on the broader market, CA International s completed residential developments have won a number of industry awards. LivinnX 18 was honored with a 2019 CEMEX Building Award for residential housing as part of an international competition. The project also received an honorable distinction at The Biennial of Architecture and Urbanism in Colombia, the most prestigious architecture event for the region. Additionally, LivinnX Santiago was nominated for ArchDaily s Building of the Year award in 2019.
CA International also has one operating asset in Europe, a 710-bed student community in Kraków, Poland, and three assets totaling 888 beds under construction in the U.K. cities of Glasgow, Edinburgh and Sheffield. By 2021, CA International will have 2,900 beds under operation in the European markets, and many more in the pipeline for 2022 and 2023.

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RICHFIELD, MN – Vincent Real Estate, a division of Eden Prairie-based Vincent Companies, has announced that pre-construction dirt work has begun on the NOVO Apartments development along the border of Edina and Richfield, MN. The NOVO Apartments will include 192 market-rate multi-family apartment units in a single five-tale building sitting atop a two-level, 228 stall underground parking garage. Located at 2400 West 66th Street in Richfield – approximately a half-mile from the Southdale Center shopping mall – the residential development covers nearly 2.3 acres and will include 202,276 sq. ft. of living space. Vincent Real Estate s partners on the project are Trident Development and Broadway Investors.
The project received final city approval from the City of Richfield in late 2018. Demolition and site grading work started in December 2019, with heavy construction activity to follow in the coming months. Construction is expected to take approximately 18 months, with completion targeted for the summer of 2021. A formal groundbreaking ceremony is plotted for the NOVO Apartments in the spring of 2020.
This building will be designed with a contemporary, urban look with sophisticated eye-catching characteristics and spacious floor plans. NOVO Apartments will offer a full range of studio, one-bedroom, and two-bedroom options – most with a balcony – with several unit designs which also include dens. All units come standard-equipped with washers, dryers and granite countertops.
Designed to promote a feeling of community, the NOVO Apartments building will surround a central courtyard which includes a pool, hot tub, pergola, and outdoor grills. Indoor common areas feature a community room, theater, fitness center, bike storage, and more.
I m as excited about this project as anything I ve done over the last 26 years in this industry, said Dale Creed Francis, co-founder and Managing Partner of Vincent Real Estate and Vincent Companies. Not only does the Richfield/Edina community need this, they deserve it. The city officials and community members have been incredible to work with. They deserve the credit for bringing this to an area that is already desirable, but about to become irresistible. Is it rewarding? Yes. Is it fun? Yes. Is it simple? No. But that s exactly why the entire team at Vincent Companies is so passionate about making NOVO Apartments something special.
We have co-developed and partnered on over 1,000 units locally in the Twin Cities in recent years, said Ryan Litfin, co-founder and Managing Partner of Vincent Real Estate and Vincent Companies. The NOVO Apartments is one of my favorites. The architectural thought and design that went into this building are astounding! The building makes views for the upper tales and it flows from five tales down to three. Fitting 192 units on this site while maintaining a cohesive living environment that blends with the surroundings was a challenge. Facing challenges and effectively working with the team to overcome those challenges is one of the things I like the most about what we do. We do it with passion or we don’t do at all. The NOVO Apartments is a fantastic example of overcoming challenges and bringing this dynamic apartment to life.
The NOVO Apartments marks several milestones for Vincent Real Estate. The company is proud to be taking on its second-largest apartment building in terms of units to date, and their first 5-tale building. It will also be the second the company has developed with an outdoor pool. This is the first time Vincent Real Estate has built a development in the city of Richfield.

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SEATTLE, WA – The Jacobson Company, a Los Angeles-based real estate investment firm, bought Alley24, a 172-unit core plus apartment community in Seattle. This is the company’s second acquisition in the Seattle market.
Brian Eisendrath, Brandon Smith and Cory Wizenberg of CBRE’s Los Angeles office arranged the loan on behalf of the borrower. The CBRE sales team in Seattle sold the deal on behalf of the seller.
Located at 241 Yale Ave N, Alley24 was originally built in 2006 and renovated in 2014. The mid-rise multifamily community has a unit mix comprised of one- and two-bedroom apartments, modern lofts and townhomes. Units include deluxe condo quality finishes such as designer kitchens with quartz countertops and stainless steel appliances, washer/dryers and oversized windows with views of Lake Union and downtown Seattle. Amenities include two rooftop terraces with fire pit lounge, catering kitchen, media room, 24-hour gym, and striking resident lounge. The Jacobson Company will upgrade many of the units and will improve common area amenities.
The property is in the South Lake Union neighborhood, an area that has grown rapidly due to the presence of many of the world’s most prominent tech companies. Alley24 is strategically located within walking distance to many of the area’s top employers, including Amazon, Facebook and Google, as well as public transportation and parks. The apartment community is also within walking distance of dozens of the area’s most well loved dining, retail and entertainment options.
“Given the infill location and the pipeline of 7.2 million square-feet of office space in the submarket, there is a supply and demand imbalance in local multifamily which bodes well for existing product in downtown Seattle such as Alley24,” said Larry Jacobson, CEO of The Jacobson Company. “We believe this asset fits into our strategy of long-term ownership of quality assets in outstanding locations.
He added, “In the last three years, the company has aggressively expanded its historically California-based portfolio with large acquisitions in Washington, Colorado and Texas. The company plans to add to its portfolio in Washington State and Colorado in 2020.”
Eisendrath added, “In order to provide The Jacobson Company’s investors with high going-in cash-on-cash returns, our team helped place long-term low-cost bridge financing that also provided enough in loan proceeds to accommodate a 1031-exchange.”

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