ST LOUIS, MO – Chase Properties, a Beachwood, Ohio-based real estate owner and operator, in partnership with Gold Block Ventures, announces the acquisition of New Town Apartments in St. Charles, Missouri, a growing suburb of St. Louis.

New Town Apartments is a 157-unit property with an additional 68 units under development in New Town, a highly amenitized, master-plotted community in St. Charles County.

The acquisition of New Town Apartments is consistent with Chase’s strategy to increase their portfolio to include multifamily properties in highly stable markets. According to Yoel Mayerfeld, Chase Co-CEO, “New Town represented a unique opportunity to own some of the best rental properties in St. Charles County due to the brilliant plotting of this self-sustaining community that is New Town.”

Chase Properties is a full-service owner and operator of shopping centers located in 17 States throughout the Midwest, Southern and Eastern U.S. The company was founded in 1973. Currently, Chase Properties owns and manages 32 shopping centers comprised of approximately 7 million square feet.

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RICHARDSON, TX – Hunt Companies announced that 97% of the 281 luxurious residences at The Mallory Eastside Apartments are leased. The apartments are located at 1705 North Greenville Avenue in Richardson, Texas. Hunt developed the property with construction led by its affiliate, Moss. Pinnacle, also an affiliate of Hunt, manages the property, which is centrally located in the heart of Richardson’s telecom corridor just minutes from UT Dallas. There is a high concentration of nearby restaurants, retail centers, major employers, and recreational facilities that residents can walk to and delight in.

Since leasing started in late 2017, leases on one and two-bedroom apartments and lofts have been signed for nearly the entire property. The units are spacious with modern floor plans, luxury finishes, high ceilings, and eco-friendly features. Outdoor amenities include a pet park and dog spa, and rooftop Sky Deck with tropical pool oasis with private poolside cabanas. A unique onsite highlight includes the City of Richardson Art Park will house one of the city’s most distinctive works of art designed by local artist Ed Carpenter.

“Starting with our first concept drawing, we worked with our affiliates Pinnacle and Moss to deliver a premium project at a tremendous value. This delivery mechanism provides best-in-class opportunities for our investors,” says Jim Dobbie, Executive Vice President with Hunt and the project developer. “We are proud to see the project stabilized after an exceptional leasing process by our team.”

This project is one of several where Hunt led the development with support of its affiliates to provide its investors with a turnkey solution for investments in the multifamily sector. From concept to completion, this vertical delivery presents a strategic advantage for multifamily developments by providing a full suite of real estate services through Hunt’s affiliates to deliver the most successful projects to its investors. Hunt’s in-house services include development, construction, debt and equity sourcing, investment management, and property management.

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GREENVILLE, SC – A venture comprised of Glenmont Capital Management, a New York-based real estate investment firm led by Managing Principal Lawrence A. Kestin, and Arlington Properties, Inc., a Birmingham-based real estate development firm led by Jim Dixon, announced the closing of its $48 million sale of Velo Verdae, a 262-unit Class-A apartment community developed in 2015 by the venture. Senior Vice President Andrea Howard of JLL’s Southeast Multifamily Team in Charlotte represented the venture in the sale.

Located on a 26.5-acre site in the prestigious Verdae master-plotted development, Velo Verdae is situated among 450,000 square feet of office space, 235,000 square feet of retail space and over 200 businesses. The property is also conveniently located in close proximity to suburban employment nodes and is approximately five miles from Downtown Greenville. Velo Verdae is the venture’s second successful development in the Verdae master-plotted development.

Velo Verdae’s one-, two- and three-bedroom units average 1,080 square feet and feature natural oak styled plank flooring, granite countertops, a stainless steel appliance package, nine foot ceilings with fans in living rooms, oversized outdoor areas, white subway tile backsplashes in kitchens, a designer lighting package and contemporary cabinetry. Community features include a business center with iMac computers, a resort-style swimming pool with a sundeck, direct access garages and detached garages, a fire pit and gaming lawn, an outdoor pavilion with summer kitchen, community grill stations, a pet spa and pet park with agility course, a bike repair station and bike lockers, a 24-hour fitness studio with virtual spin and yoga, a sports pub and gaming room, and a luxurious clubhouse.

Velo Verdae represents the twelfth multifamily project successfully completed by a Glenmont-Arlington venture, dating back to 2002.

“Glenmont continues to believe select investments in domestic real estate development opportunities, especially in strong secondary markets such as Greenville, provide compelling risk-adjusted opportunistic returns for sophisticated investors,” Mr. Kestin said. “The project and the market are representative of Glenmont’s ongoing strategy to develop best-in-class, stabilized income-producing real estate assets, taking advantage of monetization opportunities from the growing institutional demand for these investments.”

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