Apartment City

KING OF PRUSSIA, PA – Morgan Properties , one of the country’s largest real estate investment and management companies, announced today that it has launched its $ 25 million transformation of a six- property portfolio consisting of 1,979 units in Windsor Mill, Maryland. Morgan Properties purchased the properties from Harbor Group International for $247 million this past February. The portfolio, referred to as Rolling Road, recently underwent a rebranding and property consolidation into three communities:The Townhomes at Diamond Ridge (formerly Stratton Meadows and Crosswinds at Rolling Road)The Glens at Diamond Ridge (formerly Glens at Rolling Road)The Apartments at Diamond Ridge (formerly Rolling Wind, Granite Run, and Diamond Ridge)The property name changes are just the beginning of a plan to create a new identity for these assets, a new direction for the specific properties, and a new experience for the many residents who call them home. In addition to introducing a new propert...

OAK BROOK, Ill. , July 25, 2017 /PRNewswire/ --  JVM Realty Corp . (JVM), a leading vertically integrated multifamily real estate investment and property management firm , today announced that renovations are underway at The Aventine at Oakhurst North, a 464-unit community in Aurora, Ill. , acquired by the company in November 2016 . The project will include significant improvements to building exteriors, apartment homes and common amenities. Renovations to the clubhouse and other common areas have been completed, while apartment home upgrades will be phased in as residents move out. "With these renovations, The Aventine at Oakhurst North will be perfectly positioned to thrive, as the upgrades will give the community a competitive advantage in a submarket that has not experienced much new con...

CLOSE Lisa Conley gives the scoop on what we are working on today. Aventine at Naples (Photo: All Commercial Photography ) The sale of Aventine at Naples points to the strength of the East Naples market — and the growing demand for apartments.  The 350- unit apartment community off Collier Boulevard, between Davis Boulevard and Rattlesnake Hammock Road , recently sold for $67 million.  The sellers, Continental Realty Corp ., based in Baltimore, purchased the complex for $44.25 million in 2013, when both employment and multifamily rental rates were on the rise in the Naples area. More: Downtown Naples office tower sells for $16 million More: Newly built Port Royal home fetched record price this year, eclipsing last year's most expensive sale More: Local investors purchase a second building on Fifth Avenue South More: Two commercial buildings sold for $7.2 million on Fifth Avenue in Naples Continental made various upgrades to the complex, which included installing an outdoor k...

RIO DE JANEIRO ― Seven years ago, Vila Autódromo was little more than a tranquil fishing village on the edge of Jacarepagua Lagoon, next to the racetrack for which it was named. Like the hundreds of other favelas that dot Rio de Janeiro ’s landscape, it had long been neglected by the city government , and it lacked many basic public services that are standard in the fast- growing wealthier neighborhoods just across the water. But to the more than 600 families that lived there, it was home. “This was a paradise,” said Luiz Cláudio Silva, who lived in Autódromo for more than 20 years. “I thought that I would live here for the rest of my life.” By the time the Rio Olympics are over, just 20 of the families who lived in Autódromo in 2009, the year the International Olympic Committee chose the city to host the games, will remain. The community, which sits less than a mile away from Rio’s Olympic Park, was crushed so that the city could build new access roads to connect Olympic venues . ...

GREENWICH, Conn.--( BUSINESS WIRE )-- Wheelock Street Capital announced today that a joint venture between affiliates of Wheelock Street and Iconic Development recently acquired Terrace View Apartments , a student housing complex in Blacksburg, Virginia. Blacksburg is the home of Virginia Polytechnic Institute and State University (“ Virginia Tech ”), and Terrace View Apartments serves as a prime source of housing for Virginia Tech’s undergraduate and graduate student populations. On May 25 th , the joint venture acquired Terrace View Apartments from affiliates of The Stonemark Group , an Atlanta, Georgia based multifamily management and investment firm . The terms of the transaction were not disclosed. Stonemark will continue to manage the property. Reznick Capital Markets was engaged by Iconic Development to raise joint venture equity for the acquisition and directed the deal to Wheelock Street . John Lustgarten, managing director at Reznick, commented, “We thought Wheeloc...