WASHINGTON, DC – San Francisco-based real estate investment firm Hamilton Zanze (HZ) has bought the Oasis at Montclair Apartments in Dumfries, VA (Washington D.C. metropolitan area).
The 244-unit, Class A community was built in 2014 along Interstate 95 and offers simple access to Washington D.C., Downtown Richmond, and Northern Virginia. The metro economy is anchored by the federal government and is among one of the nation’s most stable regions.
“Northern Virginia is experiencing substantial growth and Oasis at Montclair is strategically located to serve the market and grow our portfolio in the area,” said David Nelson, managing director of transactions at Hamilton Zanze.
The community offers a mix of one-, two-, and three-bedroom units averaging 1,016 square feet and featuring individual climate control, dishwashers and garbage disposals, and in-unit washers and dryers.
Community amenities include a fitness center, car wash, coffee bar, dog park, internet café, movie theater, clubhouse, outdoor fitness center, outdoor cabanas with grills, saline pool, and yoga room.
HZ plans to renovate the remaining 219 classic units with vinyl plank flooring, stainless-steel appliances, new lighting, and smart home technology. The company also will refresh all community amenities and replace the theater room and outdoor workout area. Property management responsibilities have been transferred to Mission Rock Residential.
Oasis at Montclair is located 28 miles from Amazon’s plotted new corporate headquarters (HQ2) in Crystal City, Arlington, VA. Spanning 2.1 million square feet, HQ2 is projected to support 25,000 new jobs with average salaries above $150,000, resulting in roughly $1.7 billion in employee compensation and more than $4.3 billion in net new economic activity.

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ATLANTA, GA – Through a joint venture, Campus Realty Advisors has started construction of Catalyst, a new purpose built student housing community adjacent to the campus of Georgia Tech in West Midtown Atlanta. The community will cater to students at the University. The project is expected to be completed and open for occupancy for the start of the Fall semester in 2021.
Catalyst will provide students a safe, convenient place to live that is a just small walk to all areas of campus and within just steps of a trolley and bus stop. The property will have 187 apartment units including 532 bedrooms, and each bedroom will have its own bathroom. It will offer top of the market amenities including a commercial quality fitness center, multiple study rooms in each building, club rooms with collaboration and game areas, a STEM lab, a bike shop and storage area, a sky deck with views of the Atlanta skyline, three relaxing courtyards, a swimming pool deck with grilling and gathering areas, 24-hour package delivery lockers and convenient ride-share pick-up.
Realiance and T2 Capital Management have partnered with Campus Realty in the development. Realiance is a Dutch investment group headquartered in Amsterdam and T2 is a privately held real estate investment firm based in Wheaton, Illinois. Campus Realty is based in Atlanta and will oversee the development and asset management of the property.
Jeff Brown of T2 noted that “This opportunity fits squarely within our strategy. This is the best location for off-campus student housing in the Georgia Tech market. We’re working with Campus Realty on similar properties in other markets, and this type of location and product offering is always in high demand.” Alf Span of Realiance added “We’re excited to offer Georgia Tech students the location and amenities that will help them excel in their campus life.” Randy Herron, a Principal with Campus Realty, commented “Our approach is to find properties that are walkable to campus and build communities specifically to meet the needs of the university’s students. We look forward to making a quality living and learning experience for our residents and value for our partners.”

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LAS VEGAS, NV – NexPoint Residential Trust entered into an agreement to buy a three-property portfolio in Las Vegas, Nevada from an unaffiliated third party for approximately $241 million.
The properties, Bella Solara, a 320-unit property built in 1989; Bloom, a 528-unit property built in 1989; and Torreyana, a 315-unit property built in 1997 (Las Vegas 3 Portfolio), are situated on approximately 13.3, 26.9 and 16.3 acres of land, respectively. As of October 16, 2019, the Las Vegas 3 Portfolio was 94.6% occupied with a weighted average effective monthly rent of approximately $1,200.
The buy of the Las Vegas 3 Portfolio will be financed by $132.55 million of Federal Home Loan Mortgage Corporation mortgages provided by KeyBank National Association and SunTrust Bank with the remainder funded by borrowings of approximately $110.0 million under the Company’s revolving credit facility.
The buy of the properties is subject to customary closing conditions set forth in the Agreement. The Agreement also contains customary representations and warranties and covenants of the parties. The buy of the Las Vegas 3 Portfolio is expected to close in November. There can be no assurance that the closing conditions will be satisfied or that the buy will be consummated.

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