LINCOLN, NE – GMH Capital Partners and AGC Equity Partners announced the Partnership’s acquisition of Aspen Lincoln, a 632-bed student housing community located in Lincoln, Nebraska. The transaction is the Partnership’s fourth student housing asset bought and/or developed by its joint investment fund. The seller was Aspen Heights Partners and Virtus Real Estate Capital.

Aspen Lincoln is a 203,552-square-foot off-campus student housing community consisting of five floors and 182 units, located just two blocks from the University of Nebraska-Lincoln and four blocks from O Street’s bars and restaurants. GMH plans to rename the community Academy Lincoln.

“Aspen Lincoln marks yet another upscale addition to our existing ultra-core student housing portfolio,” said Gary M. Holloway Jr., President of GMH Capital Partners. “As a company that is both passionate and committed to maximizing property performance and making quality living experiences for all of our residents, we are excited to re-enter the Nebraska market, where we once had a very large student housing presence, to further enhance Aspen Lincoln and add value for existing and new student residents.” 

At the Asset, students can delight in fully-furnished apartments with private bathrooms, large kitchens, and new appliances, as well as top-of-the-line amenities including a 24-hour fitness center; California-style pool and hot tub; tanning areas; study lounges and computer labs; in-unit washers and dryers; courtyards with grilling and fire pits; and utility allowance. 

Aspen Lincoln also provides students with convenient access to grocery and retailers such as Walgreens, Hy-Vee, and Target; entertainment venues such as the Pinnacle Bank Arena, Lied Center for Performing Arts, and the Memorial Stadium; and well loved dining options like Noodles & Company, The Mill, The Coffeehouse, and Raising Cane’s. 

The Partnership between GMH and AGC is focused on acquiring and developing core and value-add student housing properties.

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TULSA, OK – American Residential Group announced construction plans for “The View”, a multifamily property to be located in the Tulsa Arts District. The proposed 198-unit, six-tale project will be the premier residential development in the city. 

The Class A complex will feature luxury unit finishes, rooftop amenity deck, expansive interior corridors and an attached parking structure. Along with a rooftop pool overlooking ONEOK Field, the property will offer stunning views of the Tulsa skyline.

The View will be located directly across the street from the ONEOK Field and will share a neighborhood with The BOK Center, Cain’s Ballroom and Guthrie Green. Adjacent to Tulsa’s Central Business District, the Arts District has evolved over the past several years into an energetic mix of world-class museums, eclectic restaurants, private businesses and entertainment spaces.

American Residential Group bought the entire square block on the Southeast corner of Archer & Elgin from the Tulsa Stadium Trust in 2015 for total redevelopment purposes. The lot falls in a Qualified Opportunity Zone, which allows investors in these targeted funds to receive substantial capital gains tax reductions. 

The project will break ground in early 2019 with a projected completion date of late 2020.

Tulsa-based American Residential Group is one of Oklahoma’s most prominent multi-family development firms with an outstanding track record of successful development and ownership throughout the city and region. In business for 30+ years, ARG has developed four other apartment projects in and around the Tulsa Arts District, including three of the most desirable residences in the market, The Edge at East Village, Metro at Brady and Tribune Lofts.

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MEMPHIS, TN – Balfour Beatty Communities, a national residential real estate investment and management company responsible for the ownership and operation of more than $6 billion in residential assets, has successfully bought Preserve at Southwind, a 306-unit apartment community located in Memphis, TN. 

The latest addition to Balfour Beatty Communities’ multifamily portfolio was completed as part of a joint venture with ApexOne Investment Partners and American National Insurance Company and marks the Company’s first foray into the Memphis residential market. Newmark Knight Frankserved as the broker for the acquisition.

Built in 2000, Preserve at Southwind offers 1-, 2- and 3-bedroom apartment units ranging from 700 to 1434 square feet of living space. Located in the desirable Germantown/Collierville area, the community offers convenient access to major business hubs including FedEx World Headquarters and the World Technology Center, as well as the Memphis International Airport.

“We are excited to enter the Memphis market with the acquisition of Preserve at Southwind,” said Michael Price, senior vice president of residential transactions for Balfour Beatty Communities. “The area shows considerable promise for continued growth, making increasing demand for well-located, quality apartment homes. We look forward to capitalizing on that demand through a series of targeted property renovations and our world-class management services.”

Property management services will be provided by Balfour Beatty Communities as they work to reposition Preserve at Southwind as a best-in-class apartment community to serve the concentration of professionals working in the area’s thriving business district. Renovations will include updates to apartment home interiors, amenities and common areas.

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