SAN DIEGO, CA – Lowe, a national real estate investment, development and management firm, has bought Tenth & G Apartments, a 207-unit multifamily community located at 707 Tenth Avenue in the heart of downtown San Diego s vibrant Ballpark District.
Lowe has a national strategic focus to buy high-quality, well-located multifamily properties at current lower valuations that can benefit from enhancements to property operations and/or physical improvements, said Mike Lowe, co-CEO of Lowe.
Built in 2008, Tenth & G is an eight-tale apartment community with steel and concrete construction featuring modern loft-style residences and 8,250 square feet of ground-floor retail. The property offers an array of loft style units including studio, one- and two-bedroom units averaging 704 square feet, featuring floor-to-ceiling windows, high ceilings, private balconies and panoramic views of the San Diego skyline and bay. The property sold for $71 million or about $343,000 per unit which is well below replacement cost.
Lowe plans to complete improvements to the property with a new leasing office and co-working space, an expanded fitness center, upgraded common areas and in-unit renovations comparable to similar nearby properties. These upgrades are designed to elevate the resident experience while preserving the property s attainable rent rates.
This acquisition aligns with our national multifamily value-add investment strategy led by Bill Cockrum and strong local market capabilities with operations overseen by our San Diego regional office led by Todd Majcher, added Lowe Executive Vice President Mike McNerney.
The property boasts a Walk Score of 99 out of 100 and is located within a small walking distance of the Gaslamp Quarter, PETCO Park, new East Village Green Park, and Rady Shell at Jacobs Park. Residents delight in an attractive amenity package including a landscaped courtyard with fire pit, rooftop viewing deck, fitness center and billiards lounge.

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DENVER, CO – OlivePoint Capital, a real estate investment manager focused on value-add and special situation opportunities in the lower middle market, announced the acquisition of Stella on the Park, a 2021-vintage mixed-use project located in metro Denver. The transaction was sourced and executed off-market.
The project comprises 216 residential units and 35,000 square feet of retail space. OlivePoint bought the asset at more than 50% discount to replacement cost. The acquisition was made through OlivePoint’s fund, OPC Fund I LP.
This investment reflects our strategy of targeting high-quality assets where temporary dislocation—whether capital markets or operational—can make outsized value, said Adrian Bejarano, Managing Partner at OlivePoint. We re targeting high-conviction, execution-driven opportunities in overlooked segments of the market and we re excited to leverage our expertise to unlock value at Stella.
We continue to believe the current market offers a rare window to invest in compelling real estate at a meaningful discount to value, said John Bruno, Managing Partner. Stella is a strong addition to our portfolio and reflects our ability to go quickly while taking advantage of the market environment.
OlivePoint will implement a targeted value-add plot including lease-up of vacant residential units, operational optimization, and capital improvements to enhance long-term value.
This investment expands OlivePoint s growing portfolio, which focuses on distressed, mispriced, or undercapitalized real estate across multifamily, industrial, retail, and select office segments throughout the U.S. lower middle market.

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ROCHELLE, IL – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a grand opening ceremony for Willis Senior Lofts, a 60-unit, four-tale affordable housing community for adults aged 55 and over.
“We are proud to officially open Willis Senior Lofts and make these high-quality, affordable homes available to seniors in Rochelle,” said Hume An, LAC Vice President and Regional Project Partner. “Investing in rural communities like Ogle County is a key pillar of LAC’s mission to tackle the housing crisis by finding and implementing solutions in communities that need it most.”
In addition to An, speakers at the ribbon-cutting included funding partners, community leaders and elected officials such as Congressman Darin LaHood, Rochelle Mayor John Bearrows and Thom Amdur, Executive Director of Fairview Housing Partners, an affordable housing nonprofit that partnered with LAC to help finance the development.
“Seniors in Rochelle deserve a gorgeous community like Willis Senior Lofts,” said Amdur. “We’re so proud that we were able to partner to make this happen and hope to continue to serve our seniors for many years to come.”
Willis Senior Lofts features a mix of one- and two-bedroom apartments and communal amenities including a fitness center, theater room and community garden. 45 of the building’s 60 units will be leased to residents earning up to 60% of the area median income (AMI), with the remaining 15 units reserved for those earning up to 30% AMI. The building was designed to achieve Enterprise Green and Net-Zero certifications.
The project was financed with a 9 percent Low Income Housing Tax Credit (LIHTC), a first mortgage and $4.9 million in soft funds from the Illinois Housing Development Authority (IHDA) and 45L energy efficiency credit equity. CREA bought both the LIHTC and 45L credits, and a construction loan was provided by Chase.
“These deeply-affordable homes are made possible through a partnership with the Ogle County Housing Authority, which committed 15 budget-based vouchers over 15 years. It’s about how we can serve those most in need without compromising the project’s financial viability,” An added.

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