LOS ANGELES, CA – AMCAL Equities announced that its newest luxury community, Clarendon Woodland Hills, is set to open this fall with 335 new apartments. Located in the heart of Woodland Hills and only steps from Los Angeles’ famed Ventura Boulevard,Clarendon Woodland Hills will offer residents simple access to local businesses, services and destinations including the Warner Center, Westfield Topanga and the Village, downtown Los Angeles, and the world well-known Pacific Coast Highway leading to gorgeous Malibu and Santa Monica beaches.

Located at 22121 Clarendon Street, the perfectly landscaped 4.3-acre community with a locally-inspired modern design aesthetic will offer a variety of unit plans to accommodate varying lifestyle preferences including studio, and 1- to 3-bedroom apartments. 

Luxury amenities include a resort-style swimming pool and spa, outdoor grills, fire pits and seating areas within a landscaped terrace, and a bark park with dog run and pet stations for Fido and Frida. Residents will also delight in a state-of-the-art fitness center and a barre and yoga studio with virtual individual and group fitness classes. Other amenities include: Plenty of secured parking; Basketball court; Walking trail; Poolside cabana seating; Secure bicycle storage; Electric vehicle charging stations; Business center with conference room; Clubroom with demonstration kitchen; Separate game room for residents and their guests.

Many homes will feature large windows, generous balconies and luxurious baths with deep soaking tubs and glass-framed showers. All homes have stone counter tops and tile back splashes, self-learning Nest Thermostats, custom walk-in closets and in-home full sized washers and dryers.

“We are delighted to bring new luxury apartment homes to Woodland Hills,” said Percy Vaz, AMCAL CEO. “We focused on including all the amenities that modern Los Angeleans want in their apartment homes and are excited for residents to go in and experience living at Clarendon Woodland Hills.”

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NASHVILLE, TN – San Francisco-based real estate investment firm Hamilton Zanze has bought two apartment communities, Post Ridge Apartments and 865 Bellevue, in Nashville. The deals mark the company’s first entry into the Tennessee market and ongoing regional expansion in the eastern United States.

“With its expansive unit floorplans, Post Ridge Apartments serve a highly desirable and underserved demographic, and 865 Bellevue’s strategic location between Highway 70 and Interstate 40 provides its residents simple access to Downtown Nashville, the Medical District, and other major employment centers,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “Both properties presented an opportunity to buy well-located, value-add assets in a fantastic market. We are excited about being a part of the Nashvillemarket and will continue to look for more opportunities there.”

Built in the early 1970s, 865 Bellevue comprises 326 rentable units and is located at 865 Bellevue Road. The preliminary renovation plans for the property include modernizing walls and ceilings, resurfacing countertops, adding new flooring, and updating lighting throughout. Amenities such as the pool area, the fitness center, and the clubhouse will also be enhanced.

Post Ridge Apartments is located at 595 Hicks Road and comprises 150 two- and three-bedroom units averaging 1,489 square feet each. The property is just one mile from the One Bellevue Place development, which will be one of the largest mixed-use districts in Nashville once completed. HZ plans to make light improvements to both individual units and shared amenities, including exterior façade and roofing enhancements. Property management at both properties has been transferred to Mission Rock Residential, an affiliate of HZ. 

Nashville has seen a meteoric rise in recent years, in both population and economic activity. The market is defined by a diverse economy, low costs of living and doing business, a creative culture, and a well-educated population. Early 2019, Amazon announced plans to locate a large part of its “HQ2” project in the metro. Several other corporate relocation announcements point to continued demand, driven in part by the region’s high quality of life.

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SEATTLE, WA – JLL Income Property Trust, an institutionally managed daily NAV REIT announced the acquisition of Stonemeadow Farms, a 280-unit premier apartment community in the desirable Seattle suburb of Bothell, Washington. The buy price was $81.8 million.

Bothell is less than 20 miles from Redmond, Bellevue and Seattle, and provides convenient access to I-405, I-5 and Highway 522 featuring multiple commuting options to an exceptional and diverse roster of high-tech, bio-tech, medical device, life sciences, telecom and utility companies including Amazon, AT&T, Boeing, Expedia, Facebook/Oculus, Google, Microsoft, Starbucks, T-Mobile and the University of Washington, Bothell.

Built in 1999, Stonemeadow Farms is a highly amenitized apartment community that has recently been renovated. It sits within a highly rated public school district as measured by LaSalle’sproprietary schools index which charts the nation’s top school districts, mapping granular data on school district quality. The index has validated the significant outperformance of apartment communities in locations such as Bothell with data that has been back-tested for over a decade.

“The price to rent an apartment in Bothell, compared to this market’s average household income is very low. We believe Bothell’s high median household incomes coupled with Stonemeadow Farm’s per-unit price of $290,000 makes this a strong investment – particularly in a market where single-family homes are averaging more than $600,000,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “We expect investments of this type to perform better in a late-cycle environment – which is one of the drivers of our suburban apartment strategy focused on properties in locations with barriers to entry and highly-rated school districts. These types of investments generally deliver stable cash flow, lower volatility and more resilience than other market locations.”

This acquisition increases the aggregate apartment allocation of JLL Income Property Trust to over $820 million and nearly 3,100 units, representing 32 percent of the value of the overall portfolio.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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