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Morris Ventures, 4315 Kingston Pike Ste 210, Knoxville, TN (2026)

09/26/2023

PHOENIX, AZ - Locale, the upscale apartment-style hotel brand and management company, and The Dinerstein Companies (TDC), a national real estate and development company, announced the expansion of their partnership with the launch of Locale Midtown Phoenix, offering upscale furnished apartments for short and extended stays within the Aspire Park Central residential community.
Locale Midtown offers 27 upscale furnished apartments within walking distance of Creighton University and St Joseph's Hospital and Medical Center and is now accepting reservations for guest stays. Blending the comfort of home and convenience of a hotel, Locale's apartment-style accommodations feature fully-equipped kitchens, in-unit washer-dryers, self check-in, modern design, and premium amenities. The luxury property includes a resort-style pool and fitness center plus a Sky Deck with expansive views of Downtown Phoenix.
This launch comes on the heels of the partnership's latest project in Nashville, Locale The Gulch, that converted the fifth floor of Aspire Gulch, Dinerstein's luxury residential building into upscale apartment-style rentals.
Dinerstein and Locale first established a partnership in 2016 and have successfully launched furnished, apartment-style accommodations at eight properties, with more locations to come in 2024.
"Our goal is to always partner with best-in-class companies for all our assets. Since our initial rollout with Locale seven years ago, they have continued to show a similar mindset as us by approaching everything with the customer experience at the forefront within our buildings", said Clay Hicks, Partner and President of TDC Management. "We continue to keep our pulse on the short-term rental business within the national markets we are in and believe Locale is the company best suited for us to meet our shared goals."
Locale's apartment-style accommodations respond to rapidly growing consumer demand for more space, privacy, and comfort while traveling, especially for work trips that stretch into leisure vacations. The furnished apartments perform well in newly constructed buildings as well as stabilized multifamily assets, boosting occupancy and delivering premiums to conventional rents.
"We're excited to expand our exclusive short-term rental relationship with Dinerstein. The trust and respect we've built over the years has been enhanced by the superior returns we've generated for their assets and capital partners – it's been a winning combination," said Nitesh Gandhi, Founder and CEO of Locale. "We share a vision that high-quality furnished apartments enhance the value of multifamily assets and it's our pleasure to work with Dinerstein's exceptional team to bring these accommodations to life within their communities."

PHOENIX, AZ - Locale, the upscale apartment-style hotel brand and management company, and The Dinerstein Companies (TDC), a national real estate and development company, announced the expansion of their partnership with the launch of Locale Midtown Phoenix, offering upscale furnished apartments for....

09/25/2023

DAVENPORT, FL - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced its second Ltd. branded apartment community, Ltd. Champions Ridge, in Davenport, Florida, is now welcoming move-ins. The Ltd. brand exclusively focuses on Greystar's essential housing product, delivering more attainable housing opportunities for key populations affected by the lack of rental options in the Orlando metro area and across the country as more Ltd. communities come online.
"Ltd. Champions Ridge addresses the incredible need for attainable housing both in the Orlando area and throughout the United States," Parker LeCorgne, Director of Development at Greystar, said. "We are excited to bring the Ltd. brand and the new rental experience here to Davenport by providing much-needed housing supply that offers an attainable, high-quality experience for renters. We are proud to be able to do this for the benefit of our community, including essential workers such as teachers, nurses, and first responders. So far, the response has been tremendous. Ltd. Champions Ridge was 60 percent pre-leased before final walkthroughs and all available apartments have been rented."
The apartment community has one-, two- and three-bedroom floorplans that range from 798 sq. ft. to 1,245 sq. ft. While the rents will be lower than typical multifamily housing in the area as a result of efficiencies in construction, technology, and the operating model, Ltd. Champions Ridge boasts similar quality construction, amenities, and experience of a traditional Greystar community.
Ltd. Champions Ridge, like all Ltd.-branded communities, will have standard amenities appropriate for their location, including community pools and gyms, among other options. Additionally, cutting-edge technology packages in multi-family will be included in each Ltd. community and apartment, with property-wide high-speed internet, smart locks, and resident apps that streamline everything from maintenance requests to guest access. This package of amenities and innovative technology helps to set Ltd. communities apart from most of the existing attainable supply in the United States.
"Our Ltd. brand is Greystar's solution to the lack of housing supply for the middle of the market," said Scott Berka, Senior Managing Director, Brand and Customer Experience at Greystar. "Champions Ridge is just the latest example of our commitment to delivering rental housing that combines the opportunity to live in a professionally managed Greystar community with the promise of limited future rent increases while living in an Ltd.-branded property."

DAVENPORT, FL - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced its second Ltd. branded apartment community, Ltd. Champions Ridge, in Davenport, Florida, is now welcoming m...

09/25/2023

NORTH SAINT PAUL, MN - Tareen Development Partners announced the groundbreaking of the highly anticipated Article No. 7 project, an 82-unit apartment complex located on the corner of 7th Ave., East and Helen Street in North Saint Paul, Minnesota. The groundbreaking ceremony marked a significant milestone for the development and the community.
Article No. 7 aims to revitalize the North Saint Paul neighborhood by providing modern, high-quality housing options for residents. With its prime location and thoughtful design, the complex will offer a comfortable and convenient living experience for individuals and families alike. The name Article No. 7 is a nod to the original newspaper building (The Lillie Suburban Newspaper) and the No. 7 signifies an abbreviation for North and 7th Ave where the building is located.
"We are excited to break ground on the Article No. 7 project and contribute to the growth and enhancement of the North Saint Paul community," said Basir Tareen, Founder of Tareen Development Partners. The 82-unit apartment complex will feature a mix of one and two bedroom units. Each apartment will be thoughtfully designed with modern finishes, spacious layouts, and an array of amenities to ensure a comfortable and enjoyable living experience. Residents will have access to on-site (below ground) parking, a fitness center, community spaces, and more.
TDP is proud to collaborate with Bauer Construction and Momentum Design, Sail Management and the City of North St Paul on this project. The building is expected to be completed in Fall of 2024.

NORTH SAINT PAUL, MN - Tareen Development Partners announced the groundbreaking of the highly anticipated Article No. 7 project, an 82-unit apartment complex located on the corner of 7th Ave., East and Helen Street in North Saint Paul, Minnesota. The groundbreaking ceremony marked a significant mile...

09/22/2023

CHARLOTTE, NC - The Milestone Group announced its acquisition of The Weathersby Apartments, a 180-unit, fully renovated, market-rate multifamily community at 8415 University Station Circle in Charlotte, NC. The purchase price was not disclosed.
The Weathersby features modern two-, three- and four-bedroom apartments strategically located between two major job centers in North Charlotte. The community is located right off W.T. Harris Blvd and proximate to Uptown Charlotte, University City, and Northlake, with easy access to numerous shopping, restaurants, and other service retail.
Community amenities include a swimming pool with a bi-level sundeck, a clubhouse, a 24-hour fitness center, a dog park, an outdoor kitchen, and picnic spaces. The modern, fully renovated and updated residences include quartz countertops, white cabinets, tile backsplashes, stainless steel appliances, faux-wood plank flooring throughout, custom closets, and washers and dryers in every unit.
"We are excited to add this fully-renovated community to our portfolio," said Milestone Vice President of Acquisitions, Jason Wise. "Our team was able to efficiently source and execute this direct off-market acquisition and assume the existing financing, benefitting both Milestone and the seller by avoiding the loan prepayment penalty."
The Milestone Group is a leading, privately held real estate investment management firm with strong expertise and focus on value-add multifamily assets in major metropolitan markets of the United States. Founded in 2003, Milestone has created trust and confidence with its investors through successfully navigating multiple economic cycles across over $9 billion of multifamily investments totaling more than 90,000 units.

CHARLOTTE, NC - The Milestone Group announced its acquisition of The Weathersby Apartments, a 180-unit, fully renovated, market-rate multifamily community at 8415 University Station Circle in Charlotte, NC. The purchase price was not disclosed. The Weathersby features modern two-, three- and four-be...

09/21/2023

WALTHAM, MA - Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced that it has closed on its construction loan to commence building its latest Alexan community, a 210-unit, luxury multifamily residence in Waltham, Massachusetts.
Alexan Waltham will be located at 73 Pond Street in downtown Waltham and will feature five stories of Class A residential apartments over one level of at-grade podium parking. Construction has commenced, and completion is anticipated for Summer 2025. Alexan Waltham will offer both market-rate and affordable units in studio, one-bedroom, two-bedroom, and three-bedroom layouts ranging from 650 to 1,400 square feet.
With its ideal location just two blocks north of the Main Street / Moody Street intersection, residents of Alexan Waltham will be immersed in Waltham s lively social scene highlighted by the 40+ restaurants along Moody Street. Residents will also have convenient access to Boston s premier employment corridors stemming from the short walk to the MBTA s Waltham Station, which provides access to Cambridge s Porter Square Station and Downtown Boston s North Station, and the 5-minute drive west to Route 128, which is home to Greater Boston s largest suburban office cluster. Additionally, the site is directly bordered by the Waltham portion of the Massachusetts Central Rail Trail, a 104-mile off-road, shared-use trail offering recreational activities and alternative access routes into Cambridge and Boston.
This project is another example of TCR s strategy to invest in high-growth areas across the U.S., said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We continue to be active in the Greater Boston area and look forward to working with our partners and the City of Waltham to provide much needed and desirable housing to the area.
With this newest Alexan offering, TCR currently has more than 29,000 apartment units in various stages of development in 20 markets across the country.

WALTHAM, MA - Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced that it has closed on its construction loan to commence building its latest Alexan community, a 210-unit, luxury multifamily residence in Waltham, Massachusetts. Alexan Waltham will be loc...

09/21/2023

SAN JOSE, CA - Urban Catalyst, a real estate fund manager and developer based in San Jose, California, has launched a new fund, UC Multifamily Equity I LLC (UCME). UCME focuses on the development of a 272-unit luxury apartment building named Aquino. Located within walking distance of Downtown San Jose s western edge, Aquino is next to the site of Google s planned Downtown West campus and within walking distance of the SAP Center and Diridon Station, one of the West Coast s busiest transit hubs. The project is fully entitled and approved for multifamily construction.
Aquino will consist of studio, one-, two-, and three-bedroom units with stainless steel appliances, quartz countertops, electric ranges, and air conditioning. Residents will have access to private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run, and a courtyard with an outdoor kitchen.
Historically, multifamily demand has vastly exceeded supply in the San Jose metropolitan area, putting upward pressure on rents and keeping the occupancy rate high. Due to the highly restrictive development policies throughout California, the San Jose metro s 2023 multifamily construction pipeline — the number of units slated for completion by the end of this year — is smaller than 18 major U.S. metros, according to CBRE data.
The San Jose metro s average multifamily occupancy rate was 95.7% at the end of Q1 2023, higher than the national average of 94.5%, CBRE data show. Multifamily rents in the Bay Area s South Bay subregion, which includes the San Jose metro, are projected to increase 47% in the next decade, according to Yardi Matrix data. The South Bay s projected rent growth exceeds that of Austin, Nashville, Phoenix, and several other major U.S. multifamily submarkets, Yardi Matrix data show.

SAN JOSE, CA - Urban Catalyst, a real estate fund manager and developer based in San Jose, California, has launched a new fund, UC Multifamily Equity I LLC (UCME). UCME focuses on the development of a 272-unit luxury apartment building named Aquino. Located within walking distance of Downtown San Jo...

09/20/2023

HOUSTON, TX - Venterra Realty acquired the Avasa Spring Branch community located in Houston, Texas. The 361-unit, three-story multi-family community was built in 2023 and offers modern one, two, and three-bedroom mid-rise residences that range from 613-1475 square feet in 21 unique floor plans. The apartments feature granite countertops, stainless steel appliances, larger soaking tubs, and ample closet space along with an excellent amenity package.
Residents can enjoy Avasa's best-in-class amenity package, spending time in either of the two well-appointed pool areas with grilling areas and social spaces. Additional on-site amenities include a state-of-the-art fitness center, connected yoga/spin studio, clubhouse, and more.
Located on Brittmoore Rd., near the intersection of I-10, the property offers easy access to prominent employment hubs including Memorial City, City Center, Westchase, and the Energy Corridor, and all the shopping, dining, and activities in the area.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.TM, the 48-Hour Maintenance Guarantee, and SMARTLEASING.
"We have seen excellent growth in the Houston area and are excited to expand our Texas portfolio with the addition of Avasa Spring Branch," said John Foresi, CEO of Venterra Realty. "Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further enhance the standard of living at Avasa Spring Branch by implementing Venterra's customer-focused management platform," added Venterra Chairman, Andrew Stewart.

HOUSTON, TX - Venterra Realty acquired the Avasa Spring Branch community located in Houston, Texas. The 361-unit, three-story multi-family community was built in 2023 and offers modern one, two, and three-bedroom mid-rise residences that range from 613-1475 square feet in 21 unique floor plans. The....

09/19/2023

MIAMI, FL - GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Altís Ludlam Trail from The Altman Companies, a 312-unit, wrapped-style community located in Miami that will be rebranded as Windsor Ludlam Trail.
The community features a roof-top heated swimming pool with a sun deck and poolside cabanas, a fitness center with cardio and yoga rooms, a game lounge, movie theatre, business center, and flex work-from-home spaces.
Located in the West Miami submarket of Florida, with proximity to major thoroughfares Highway 826, 836, and US Route 1, the community is uniquely positioned adjacent to the Ludlam Trail, a 6.2-mile linear greenway connecting a vast network of 30,000 residents, five schools, six parks, and nearly 50 acres of green space. The Ludlam Trail also serves as a major alternative transportation option for non-vehicular travel to the Blue Lagoon and Dadeland office markets.
"The Altman Companies are proud to have developed Altís Ludlam Trail into a premier residential community with a strong emphasis on sustainability and an exceptional living experience," said Seth Wise, CEO of The Altman Companies. "As we transition ownership to GID, we have full confidence that they will uphold the same standards of excellence and further enhance the community for its residents."
"This strategic move reflects our unwavering commitment to expanding our portfolio and offering exceptional living experiences to our residents," said Greg Bates, President and CEO of GID. "With the acquisition of Altís Ludlam Trail, we are poised to set new standards for resident satisfaction, create a positive impact, and solidify our position as a leader in the real estate industry. We look forward to greeting our residents and building lasting partnerships with the local community."

MIAMI, FL - GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Altís Ludlam Trail from The Altman Companies, a 312-unit, wrapped-style community located in Miami that will be rebranded as Windsor Ludlam Trail. The community features a roo...

09/19/2023

PALM SPRINGS, CA - Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, announced the acquisition of Sunnyview Villa in Palm Springs, Calif., a community of one- and two-story buildings reserved for residents earning between 30% and 60% AMI. CPP s renovation and investment will renew the property s affordability status for an additional 55 years.
Located at 2950 N. Indian Canyon Road in North Palm Springs near the historic Racquet Club West neighborhood, the 44 units at Sunnyview Villa will undergo extensive renovations to improve residents quality of life.
Sunnyview Villa was built in 1980 and has experienced deferred maintenance over the years. Improvements to the apartment interiors will include installation of new kitchen cabinets and countertops, low-HOV vinyl flooring, Energy Star appliances and energy efficient lighting. Exterior renovation will include new roofing, energy efficient lighting in common areas and painting of all structures. Additional work will upgrade the ADA path of travel to be compliant.
Technological improvements include the addition of a computer room, security video surveillance, in-unit wireless internet, a social coordinator and transportation options.
CPP is partnering with LifeSTEPS to create a program for residents health and wellness. Services include effective educational and supportive services designed to maximize resident strengths and build resilient communities.
The value that LifeSTEPS brings is a big part of the community s renovation, said Karen Buckland, Vice President of Development at CPP. We have worked with the organization in the past and they have proven to be integral in setting up an important support system for residents.
CPP s total development investment is expected to be approximately $20.7M, with a purchase price of $11.25M and an expected renovation investment of approximately $89,000 per unit. Renovations are expected to be completed in December 2023.
Development partners on the project include WNC & Associates, which is providing 4% tax credit equity, bond issuer California Municipal Finance Authority and Red Stone Equity Partners. It is through partnerships like these that CPP is able to provide essential social services to residents, support neighborhood initiatives and transform multi-family affordable housing communities.

PALM SPRINGS, CA - Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, announced the acquisition of Sunnyview Villa in Palm Springs, Calif., a community of one- and two-story buildings reserved for residents earning between 30% and 60% AMI. CPP’s reno...

09/18/2023

LOS ANGELES, CA - Cityview, a premier multifamily investment management and development firm, has completed Jasper, a 296-unit opportunity zone project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California.
The highly amenitized, mixed-use community is now open for leasing and offers a variety of studio, one and two-bedroom floor plans, including 25 units designated very low affordable and three designated moderate income affordable.
Jasper is bringing nearly 300 units of much-needed housing, including affordable units, to an area experiencing an extreme shortage, said Sean Burton, CEO of Cityview. Located in a vibrant neighborhood with easy access to jobs, higher education, transit and entertainment, Jasper offers extensive amenities that foster resident well-being and connection.
Located at 2528 S. Grand Ave., Jasper is situated at the nexus of Downtown Los Angeles and the rapidly growing University Park East, where vintage shops, eclectic restaurants and craft cocktail bars are surrounded by world class cultural and educational institutions, including the soon to open $1 billion Lucas Museum of Narrative Art. Previously, the project site housed a defunct bookbinding factory and other unused industrial buildings.
Jasper features two expansive rooftop sky decks offering outdoor dining and Korean BBQ grills, an entertainment terrace and sweeping views of Downtown Los Angeles. A lush, resort-style pool deck features cabanas, loungers and daybeds, while a quad area includes a game lawn, billiards, a built-in outdoor pizza oven and expansive communal spaces for outdoor dining and entertaining.
For those who work remotely, a large CV Works business center offers community workspace, individual desks equipped with USB charging ports, private work areas and meeting rooms. Turnkey fiber optic internet and Wi-Fi create strong connectivity throughout the community, while a residents-only app keeps residents informed.
Residents can relax and recharge on the rooftop quiet deck, which features day beds, tables and greenery. Jasper s two-story club room has a custom commercial grade kitchen for community-hosted cooking classes and private as well as semi-private events. A pet-friendly community, Jasper is home to a large dog park as well as an onsite dog spa and wash.
Designed for livability, Jasper is built to LEED Silver standards, with an expected 20-30% improved efficiency over similar non-green buildings. It features Title 24 and Energy Star appliances as well solar thermal, which replaces fossil fuels to heat the building s hot water. The community s stormwater is taken to a drywell that recharges the groundwater supply, while motion and timing sensors, high efficiency plumbing and HVAC systems conserve additional water and energy.
A transit-oriented community, Jasper boasts a walk score of 91, a transportation score of 92 and sits one block from the 23rd Street Metro Station.
Cityview partnered with AC Martin, WPIC Construction, Nadia Geller Designs and Labib Funk and Associates on the project, which created more than 1,000 jobs.
In addition to Jasper, Cityview is nearing completion on The Parker, a 123-unit multifamily development in the heart of Los Angeles, and will complete Belle on Bev, a 243-unit multifamily project in Los Angeles Historic Filipinotown (HiFi), later this year. It also recently commenced construction on South Bay X, a 265-unit multifamily project in Los Angeles South Bay.

LOS ANGELES, CA - Cityview, a premier multifamily investment management and development firm, has completed Jasper, a 296-unit opportunity zone project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California. The highly amenitized, mixed-use commun...

09/12/2023

RIVERSIDE, CA - JPI, a leader in the development of Class A multi-family communities, announced that vertical construction has begun on The Exchange at Riverside, which will bring 482 homes to Riverside, California. The milestone was celebrated with a Golden Hammer ceremony on the jobsite.
The three-story luxury multi-family development will offer 1-, 2-, and 3-bedroom homes to residents as well as several live/work units. The homes will offer energy-efficient stainless-steel appliances and electric ranges, private tiered balconies, 9-foot ceilings, and a full-sized washer and dryer.
Residents will also enjoy two resort-style pools accompanied by cabanas and outdoor firepits, an outdoor kitchen, coworking lounges, a state-of-the-art fitness center, a dog park, a bicycle storage and repair room, and electric vehicle charging stations.
"We are very blessed to be welcomed by the Riverside community and are excited about this project," said Payton Mayes, CEO of JPI. "Every project has a story, and there are so many people who played a role in the story of The Exchange at Riverside. We are so grateful for each and every one of you, and are excited to see this project come to life."
The Exchange at Riverside will provide convenient access to the award-winning downtown Riverside with the Fox Performing Arts Center, Convention Center, UCR Arts, Riverside Plaza, and Mission Inn & Spa. The Exchange at Riverside also offers outstanding access to education, as it is conveniently located close to the University of California Riverside, which boasts over 26,000 students.
Within one mile of The Exchange at Riverside, you can find the historical 209-acre Fairmount Park which includes Lake Evans, Fairmount Lake, and Fairmount Park Golf Course. Also, within 2 miles of the community sits Mount Rubidoux, a 161-acre hill rising above downtown with hiking trails and panoramic views of the city, and the Santa Ana River trail which is being expanded to reach 110 miles from the Pacific Ocean to the mountains in San Bernadino.
The community will be ideal for commuters as the Metrolink Station is located two miles southwest of the property, providing access to various locations in the area including downtown Los Angeles or Irvine in less than 90 minutes. The office for the County of Riverside, the largest employer in the county, is also located 1.5 miles from the community and employs over 23,000 residents.
"This project means so much to the Northside neighborhood," said Erin Edwards, Councilmember of Ward 1. "I am thrilled that we can celebrate new housing opportunities here in our city. Adding 482 units to our housing inventory does more than just help us reach our housing goals, it shows we have a growing community where neighborhoods can thrive. I look forward to welcoming my neighbors to the community when it's complete."

RIVERSIDE, CA - JPI, a leader in the development of Class A multi-family communities, announced that vertical construction has begun on The Exchange at Riverside, which will bring 482 homes to Riverside, California. The milestone was celebrated with a Golden Hammer ceremony on the jobsite. The three...

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