prnewswire | October 01, 2020
LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, today announced the start of preleasing at Odin, a contemporary mixed-use apartment community in the increasingly popular Northeast neighborhood of Minneapolis. Odin, which features 335 apartment homes and nearly 8,000 square feet of retail space, includes a 12-story high-rise and five-story midrise building in a highly walkable and bikeable downtown locale. The community is equipped with work-from-home spaces as part of plush array of common-area amenities, including a flexible lounge to cater to the ever-prominent remote worker. Odin offers virtual leasing options and will welcome its first residents in the fall.
REAL ESTATE TECHNOLOGY
KKR | March 24, 2022
KKR, a premier global investment firm, announced on March 23rd that it has expanded its self-storage real estate portfolio.The acquisition was made through KKR Real EstateParntersAmericas III. The acquisition was made through KKR Real Estate Parnters Americas III.
Denver and Nashville are important destinations for our self-storage investing strategy, and we are excited to grow our footprint in both markets with the purchase of three modern, well-located properties. We are continuing our focus on acquiring high-quality assets in growth markets and working with our team of experienced operators to deliver a best-in-class user experience for self-storage customers.”
Ben Brudney, a Director in the real estate group at KKR
The two properties in Denver were complete in 2017 and 2018 while the property in Nashville was completed in 2018. With the purchase, KKR has added a total of 2,000 units to its self-storage portfolio. The firm has expanded its footprint in two of the country’s fastest growing metropolitan regions.
The announcement follows KKR’s launch of Alpha Storage Properties (ASP) in December 2021. ASP will acquire and manage the organization’s portfolio of self-storage properties in high-growth markets across the country.
REAL ESTATE INVESTMENT
Altura Capital | February 24, 2022
Thompson Thrift Residential, a wholly-owned affiliate of Thompson Thrift and one of the nation's leading multifamily developers, announced that construction has begun on Palm Grove Luxury Apartment Homes, a 320-unit, luxury multifamily community in the Tampa suburb of Ellenton. Thompson Thrift plans to welcome new residents starting in the second quarter of 2023. The development is a joint venture with Altura Capital.
There is strong demand for luxury rental communities in this area and significant market growth that make this a compelling investment opportunity, The community's centralized location ensures future residents have convenient access to Sarasota, Tampa and St. Petersburg as well as nearby retail, dining and recreational opportunities."
Josh Purvis, managing partner for Thompson Thrift Residential.
Located on the northeast corner of the U.S. Highway 301 and Interstate 75 interchange, the 27-acre site will offer two-story buildings with detached garages. A mix of one-, two-, and three-bedroom layouts averaging 1,100 square feet will provide an array of in-demand finishes including elegant quartz countertops, stainless steel appliances, tile backsplashes, large walk-in closets, hardwood-style flooring, full-size washers and dryers, and more.
The luxury living experience will extend throughout the community with a clubhouse featuring stylish spaces for entertaining, 24-hour fully equipped fitness centers, resort-style heated swimming pools, community-wide WiFi, dog park, and more. Residents will also benefit from being located within walking distance to the Ellenton Premium Outlets, which is home to 116 shops and restaurants.
This area has seen some of its fastest community growth in recent years, and employment growth is expected to outpace the national average for the next six years, For-sale home values have increased 14% over the past year, and so we are excited that residents will have a top-quality new rental option to choose from when Palm Grove opens its doors next year."
Brian Southworth, senior vice president of acquisitions, partner.
Palm Grove will be the eighth multifamily community Thompson Thrift Residential has developed in Florida. They are also underway with The Sophia, a built-for-rent community in nearby Venice. Since 2008, Thompson Thrift made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a variety of conventional, luxury leased villa and townhome-style communities. Throughout its history, the company has invested more than $3.15 billion and has become known as a trusted partner committed to developing high-quality, attractive communities.
About Altura Capital
Altura Capital is a real estate investment firm with offices in Arizona and Florida. The company focuses in opportunities that create value and maximize cash flow through ground-up development with best in class developers. The firm targets investments between $5-25 million of equity in a diverse group of residential and industrial projects. The location focus is primarily secondary markets with attractive fundamentals.