CHARLOTTE, NC – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the opening of The Parkwood at Optimist Park, a new community of 309 residences in the city’s rapidly growing Optimist Park neighborhood. This marks the second community the national developer has completed in the Charlotte area, with more developments to follow in the near future.

Located at 1700 Brevard St., The Parkwood at Optimist Park is directly adjacent to the Parkwood Lynx Blue Line rail station and includes a mix of studio, one-, two- and three-bedroom apartments plus a host of world-class amenities. The community provides a first-rate location that is minutes away from NoDa and Uptown Charlotte, and is positioned centrally within Optimist Park, a thriving neighborhood recently named by niche.com as one of the “best places for young professionals to live” in Charlotte.  With blossoming culture, nightlife and restaurants, including the newly opened Optimist Hall, Optimist Park provides a perfect destination for both residents and visitors to the neighborhood.  

The Parkwood at Optimist Park is the second development by The NRP Group in the Charlotte area, after Loft 135, an upscale, market-rate apartment community on the south end of Charlotte, completed in 2016.  

In January, The NRP Group broke ground on Platform Lofts, an affordable community located across the street from Ancient Concord Station, also on the LYNX Blue Line. Completion is targeted for the summer of 2020. 

Nationally, the NRP Group is on target to deliver around 16 developments in 2019. It is considered to be the No. 1 developer in the U.S. that makes both affordable and market-rate communities at scale.

“The NRP Group is excited to enrich our outstanding relationship with the City of Charlotte, which is undergoing tremendous growth,” said Aaron Pechota, Senior VP of Development for The NRP Group. “The Parkwood at Optimist Park represents an elevated living experience, thoughtfully plotted to take advantage of one of America’s fantastic cities. The community will be a key part of Optimist Park’s continued emergence, connecting residents to Downtown Charlotte and the surrounding neighborhoods.”

The Parkwood at Optimist Park includes a fitness center, a resort-inspired heated pool with a tanning ledge, cabanas, grills, a private parking garage, a free bike-share program with lights, locks and helmets provided at no cost, and an onsite bike workshop.

“As we work to fulfill our mission of delivering exceptional rental housing to individuals and families, regardless of income, we’re also focused on making transit-oriented communities that allow our residents to go easily between where they live, work and play,” said Jason Mochizuki, VP of Development for The NRP Group. “The Parkwood at Optimist Park checks all of these boxes by offering a high-quality, perfectly conceived community that sits right on the Parkwood Lynx Blue Line and is just 15 minutes from most major employers in the area.”

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VIERA, FL -Preferred Apartment Communities announced that it bought Artistry at Viera, a newly constructed 259-unit Class A multifamily community in Melbourne, Florida. Built in 2018, Artistry at Viera, is located in the Viera submarket of Melbourne, Florida, a 22,000-acre master plotted community located in the central coastal region of Brevard County.

Jeff Sherman, the Company’s Executive Vice President and Managing Director of Multifamily stated: “Coastal Florida markets continue to demonstrate sound investment fundamentals and Melbourne is no different.  Artistry at Viera is exceptionally well located, surrounded by affluent demographics, and is proximate to top rated schools, parks, shops and restaurants.”  

This acquisition increases the Company’s multifamily portfolio to 33 multifamily communities across ten states. The Company financed the acquisition utilizing a non-recourse first mortgage loan from MetLife Investment Management on behalf of a client. The first mortgage loan is for a ten-year term and amortizes over a 30-year period. There are no loan guaranties provided by PAC or our operating partnership.

“The property features high quality interior finishes and a best in class amenity package.”  Mr. Sherman added, “We are also excited to continue our relationship with premier multifamily developer, Davis Development.”

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LONG BEACH, CA – LMC, a leader in apartment development and management, announced the start of leasing at Oceanaire, a luxury apartment community located in the heart of downtown Long Beach. First go-ins are anticipated for this summer.

Oceanaire features 216 apartment homes, near-direct proximity to the beach off Ocean Boulevard and high-end finishes. The podium-style community offers seven tales of apartment homes along Ocean Boulevard and boasts views of the ocean, port and downtown. 

“Downtown Long Beach possesses such a distinctive vibe with its signature shoreline and variety of shopping, dining and entertainment options,” said JJ Abraham, division president of California for LMC. “We are thrilled to join the neighborhood and offer what we believe is a top-of-market experience for our residents that perfectly complements the laid-back beach vibe.”

Located at 150 Ocean Boulevard, the midrise community sits within a mile of the eclectic East Village Arts District and a small walk from the Aquarium of the Pacific. The neighborhood boasts a Walk Score of 90, signifying a walker’s paradise where most daily errands do not require a vehicle. Several transit options are within a half-mile of the community, including Long Beach Transit Mall, Pacific Station and 1st Street Station. 

Along Ocean Boulevard and throughout downtown, Oceanaire residents have prime access to a variety of boutiques, restaurants, craft breweries and waterfront dining. Shoreline Village, and its boardwalk shops and scenic harbor views, is a small walk south of the community. The Pike Outlets provide another nearby dining and entertainment district across the street from the community. Pine Avenue and The Promenade provide additional shopping options to the north. 

Oceanaire offers studio, 1-, 2- and 3-bedroom apartment homes with two distinctive designer-inspired end options. Expansive kitchens are delivered with custom pendant lighting, Samsung stainless-steel appliances, quartz countertops, upgraded cabinetry with under-mount ambiance lighting and ceramic-tile backsplashes. Additional apartment features include luxury vinyl-plank flooring, in-home washers and dryers, roller shades, Nest thermostats, and in master bedrooms, walk-in closets and large bathrooms with quartz countertops and ceramic tile shower surrounds. 

Community amenities include outdoor terrace seating with daybed lounges, swimming pool, yoga lawn, clubroom with TVs, outdoor bar and lounge, state-of-the-art fitness center, barbecue/dining area. Pet-owning residents can utilize Victory Park, which is located adjacent to the community. Residents also have access to two levels of podium-style parking.

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