La Via Apartments benefits from an optimal location just 40 miles north of downtown San Francisco. The property is situated on the Petaluma River waterfront, offering residents direct access to the Lynch Creek Trail, a pedestrian and bike path that runs along the river. It is also three blocks north of downtown Petaluma, which is home to dozens of boutique shops, restaurants and bars. Residents also have convenient access to public transportation via the Petaluma Downtown train station and Route 101 bus service, both of which provide direct routes to downtown San Francisco.

Situated on the Petaluma River, La Via Apartments features a number of amenities that take advantage of the area’s temperate climate and outdoor lifestyle, including the bocce courtyard and BBQ pavilion.

"La Via Apartments exemplifies our strategy to acquire well-located, high-quality properties in submarkets supported by strong fundamentals with long-term tailwinds," said Michael Streicker, President of Sentinel. "Surrounded by protected parklands, the Petaluma submarket has seen few deliveries of new apartments in recent years – approximately 52 units per year, on average – driving compelling supply/demand dynamics and consistent rent growth. Single-family homes for sale in the immediate vicinity start at $750,000, presenting a significant barrier to homeownership and supporting growing demand for rentals."

La Via Apartments consists of studio, 1- and 2-bedroom apartments averaging 924 square feet with sweeping views of the rolling hills of Sonoma. The upscale interiors feature stainless steel appliances, quartz countertops, tile backsplashes, smart lock keyless entry, Nest thermostats, and full-sized washers and dryers, with some units boasting elevated ceilings, floor-to-ceiling windows, and private patios or balconies with French-style doors. Community amenities include a 24-hour wellness studio with spin room and yoga studio; a bocce courtyard with fire tables, a BBQ pavilion, a fireplace and outdoor TVs; a coworking café with complimentary wi-fi; a gourmet coffee bar; a zen deck; a resident parlor with a billiards table, shuffleboard, arcade games and a kitchenette; a catering kitchen; bike and kayak storage; a pet spa; 24-hour concierge; private card-controlled access to building and amenities; and a secure-access enclosed garage with electric vehicle charging stations.

Sentinel has been active in the Northern California market throughout its 54-year history and now owns 7 properties in the area. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The acquisition was covered by multiple media sources:
CityBiz
Connectcre
BusinessWire

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The post Sentinel Acquires Seventh Multifamily Community in Northern California appeared first on Sentinel Real Estate Corporation News.

Nova at Green Valley Apartments features numerous amenities, including a heated saltwater pool and spa, cabanas, a poolside pavilion with open air kitchenette and lounge area, a sport and recreation lawn and stunning views of the Rockville Hills.

Sentinel has recently acquired Nova at Green Valley Apartments, a recently completed 281-unit mid-rise apartment community in Fairfield, California. Sentinel purchased the property from the sponsor, The Spanos Corporation ("Spanos"), a leading developer of multifamily communities across the US. Nova at Green Valley represented the opportunity for Sentinel to acquire a well-located newly-built property in a desirable and highly supply-constrained submarket.

Nova at Green Valley Apartments is located within the 132-acre Green Valley Corporate Park, which Spanos was successful in rezoning to allow for multifamily in addition to the commercial uses it had previously been zoned for. The property is also proximate to the interchange of Interstates 80 and 680, giving residents direct access to employment and recreation throughout the Bay Area, including Vallejo, Downtown Napa, Concord, Walnut Creek, San Francisco and Sacramento. Additionally, Nova at Green Valley is served by the highly rated Fairfield-Suisun School District.

"We have enjoyed a long and fruitful relationship with Spanos, having acquired 123 of its communities over the course of nearly 40 years," said Michael Streicker, President of Sentinel. "Nova at Green Valley exemplifies our strategy to acquire well-located properties in submarkets supported by strong fundamentals, including good schools, diversified employment bases, easy access to entertainment and lifestyle amenities, and favorable supply/demand dynamics. During the past 10 years, only two new apartment communities have been delivered to the submarket, and we expect this dearth of new development will support long-term demand at Nova as the submarket continues to grow."

Nova at Green Valley Apartments consists of studio, 1- and 2-bedroom apartments averaging 860 square feet. The upscale interiors feature stainless steel appliances, quartz countertops, wood plank-style flooring, smart lock keyless entry, smart thermostats, side-by-side refrigerators with ice makers, full-sized washers and dryers, 9' and 10' ceilings, walk-in closets, and private patios or balconies. Building amenities include a 24-hour fitness center, a saltwater resort-style swimming pool, spa, fire pit, and sundeck, outdoor grill stations, a gaming room, theater, gourmet demonstration kitchen, lounge, gourmet coffee bar and concierge package system.

The property will also be highly energy efficient, with sustainable elements including rooftop photovoltaic solar panels, solar thermal assist hot water heating, electric vehicle charging stations, LED light fixtures, low emissivity (low-E) windows and Energy Star-certified appliances. The photovoltaic and solar thermal systems are designed to offset common area electric usage and costs and reduce water heating usage and costs, respectively.

Sentinel has been active in the Northern California market throughout its 53-year history and currently owns 5 properties in the area. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The acquisition received coverage in several publications:
https://www.multihousingnews.com/sentinel-buys-281-unit-bay-area-community/
https://product.costar.com/home/news/shared/421053607
https://www.businesswire.com/news/home/20221221005101/en/Sentinel-Real-Estate-Corporation-Acquires-Bay-Area-Mid-Rise-Apartment-Community

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Debbie Lane Flats, in Arlington, TX, features a resort-style pool and sundeck with lounge seating.

Sentinel has recently acquired Debbie Lane Flats, a 331-unit garden-style apartment community located in Arlington, Texas, representing an opportunity for Sentinel to acquire a stabilized newly-built luxury community in the desirable and rapidly growing Dallas-Fort Worth Metroplex.

Debbie Lane Flats consists of one-, two- and three-bedroom apartments, averaging 895 square feet per unit. The luxury residences are equipped with stainless steel appliances, quartz countertops, wood-style flooring, nine-foot ceilings, LED lighting, smart lock keyless entry, smart thermostats, full-sized washer/dryers, oversized garden-style tubs, walk-in closets, and private patios or balconies. In select units, there are extra storage closets, private yards, standing showers and dual-vanity sinks. Community amenities include a 24-hour fitness center, a resort-style pool and sundeck, outdoor grill stations, a gourmet kitchen, a business center, a cyber cafe, a 24-hour package locker with cold storage features, controlled access gates, bike racks, electric vehicle charging stations, a dog park and a valet dry cleaning service.

"Debbie Lane Flats exemplifies our core investment strategy of acquiring high-quality stabilized assets in high-growth markets across the U.S.," said Michael Streicker, President of Sentinel. "In this case, Arlington is at the heart of one of the nation’s fastest-growing employment centers, which consistently exceeds the national average for job growth. In the last year alone, employment in the Metroplex has grown by 7.2 percent, representing nearly 280,000 jobs, and is expected to grow 2.4 percent annually over the next five years. This job growth, combined with highly-rated school systems and quality of life factors, will support continued population growth and drive the long-term success of the asset."

Debbie Lane Flats is optimally located approximately 18 miles southeast of Fort Worth and 27 miles southwest of Dallas, and situated along the southbound lane of South State Highway, a major highway that runs north/south into downtown Arlington and connects to Ronald Reagan Memorial Highway, a major east/west thoroughfare. The property is within a 20-minute drive of a variety of the region’s top employers, such as GM Financial, a General Motors SUV assembly plant and Poly America, as well as the headquarters of American Airlines, IKEA and Lockheed Martin. Additionally, the property is served by the highly rated Mansfield Independent School District.

Debbie Lane Flats is also located proximate to high-quality shopping, dining and entertainment options at Arlington Highlands and The Parks Mall at Arlington, with major retailers such as Kroger, Sprouts Farmers Market and Walmart Neighborhood Center supermarkets, as well as Best Buy, Target and Marshalls – among other name brand stores and restaurants – nearby. The community is within walking distance of Lloyd Park at Joe Pool Lake, which features camping, swimming, kayaking, canoe rentals and other recreational amenities. It is also located within a 15-minute drive of Six Flags Over Texas adventure park and the Texas Rangers and Dallas Cowboys stadiums.

Sentinel has been active in the Dallas-Fort Worth market throughout its 53-year history, having owned and operated 24 multifamily properties and six commercial properties in the area. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The acquisition received coverage in:
Multi-Housing News
REBusiness Online
The Dallas Morning News

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The Broderick is ideally located in the Society Hill neighborhood of Philadelphia, near Washington Square Park and Independence National Historic Park.

Sentinel has recently acquired two high-rise apartment communities – The Broderick and The Republic – totaling 213 units and located in Center City Philadelphia. These acquisitions presented Sentinel with the opportunity to increase its investment in the rapidly expanding Philadelphia market. The transactions follow the recent acquisition of Madison Lansdale Station, a 186-unit mid-rise apartment community located in Lansdale, PA, approximately 32 miles northwest of Philadelphia’s City Center.

Both The Broderick and The Republic benefit from superior walkable and transit-oriented locations with significant rental rate upside potential through comprehensive unit upgrades and over 5,000 square feet of retail space within each. Moreover, their location in Center City offers proximity to top employers and an extraordinary range of dining, entertainment and cultural attractions.

"With The Broderick and The Republic, we found a compelling opportunity to acquire institutional-quality assets in two of Philadelphia’s most desirable neighborhoods, attracting a wide range of residents who want to live and work in the heart of the city," said Michael Streicker, President of Sentinel. "These locations have also seen significant post-pandemic recovery, with increasing in-migration, strong rent growth and a return to the urban vibrancy that remains a signature of the city’s culture and lifestyle."

Sentinel has been active in the Pennsylvania market throughout its 53-year history, having owned and operated 12 properties in the state. Currently, Sentinel owns and operates four properties in Philadelphia submarkets, in addition to these new acquisitions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The Broderick

The Broderick occupies an irreplaceable location next to the nation’s most famed city parks and museums in historic Society Hill. Surrounded by Washington Square Park, Independence National Historical Park and the Delaware River, The Broderick benefits from its proximity to these landmarks, which also protect its unparalleled views and, combined with reduced tax incentives for new construction, limit new supply in the market. Additionally, The Broderick’s highly visible location within Society Hill draws a steady demographic base of mature, well-established professionals with strong employment profiles who are willing to pay a premium for luxury unit finishes in a concierge-serviced building.

The Broderick is a boutique community comprising 69 apartments averaging 854 square feet. Residences boast quartz countertops, stainless steel appliances, luxury wood-style flooring, spacious closets, in-unit washers and dryers and oversized French windows with breathtaking views. Amenities include a penthouse-level resident lounge, an entertaining kitchen and a complimentary coffee bar. The previous owner recently renovated 46 units and Sentinel has identified a substantial value-add opportunity to renovate the remaining 23 units to capture additional rent premiums.

The Republic

The Republic is a 144-unit community conveniently located in the heart of Rittenhouse Square, Center City Philadelphia’s most sought-after neighborhood. Boasting some of the highest per-square-foot rental rates in the city, Rittenhouse Square features luxury hotels, high-end retail, world-renowned restaurants, energetic nightlife and an extensive array of art and culture offerings. The property features a rooftop overlooking the scenic Rittenhouse Square Park and is within a ten-minute walk to over 46.8 million square feet of Class A office space and to many of Philadelphia’s largest employers both in Center City Philadelphia and in University City. Furthermore, residents are in proximity to various public transportation options along SEPTA’s Market-Frankford line via the 30th Street Station and the 19th Street Trolley Station.

Residences at The Republic average 695 square feet and feature nine-foot ceilings, quartz countertops, stainless steel appliances, luxury wood-style flooring, spacious closets, full-sized washer/dryers and oversized windows with stunning views. Previous ownership renovated 84 units and Sentinel has identified a significant value-add opportunity to renovate the remaining 60 units to drive rent growth while retaining a notable value compared to top-of-the-market properties in Center City.

The acquisitions received coverage in a number of publications:
Philadelphia Business Journal
Bisnow
Multifamily Executive

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The Retreat at Cinco Ranch features a resort-style pool with a sundeck and lounge area, overlooked by the well-appointed Clubhouse.

Sentinel has recently acquired The Retreat at Cinco Ranch, a 268-unit garden-style apartment community in the desirable Cinco Ranch submarket of Katy, TX, just west of Houston.

Originally constructed in 2008, The Retreat at Cinco Ranch comprises 12 three-story residential buildings consisting of one-, two- and three-bedroom apartments averaging 943 square feet. The first floor of the complex underwent a substantial renovation in 2019, which included the installation of modern appliances and upgraded finishes – including new kitchen and bathroom cabinetry, quartz countertops, the addition of tile in kitchen backsplashes and bathroom showers, and wood-style flooring in living areas. Following the transaction, Sentinel intends to realize additional value by expanding the capital improvement program to replace legacy finishes on the second and third floors.

Community amenities include a modern clubhouse with a fitness center, an indoor cycling studio, a resident lounge with a kitchen and coffee bar, a business center, and package lockers, a resort-style swimming pool with a sundeck and lounge area, outdoor grilling stations and a playground with a picnic area.

The Retreat at Cinco Ranch is optimally located amid some of Houston’s most upscale residential neighborhoods and within the top-ranked Katy Independent School District, enjoying access to several lifestyle, retail and restaurant destinations along Mason Road. The property offers convenient access to Houston’s energy corridor along Interstate 10, which is home to the North American Headquarters for Shell, CITGO and BP, among others. Major employers in the area also include MD Anderson Cancer Center, Texas Children’s Hospital and GEICO.

Sentinel has been active in the Houston market throughout its 53-year history and currently owns and operates three properties nearby, 3000 Sage Apartments, The Lodge at Cypresswood Apartments and Everlee Apartments, providing enhanced competitive positioning in the submarket. We will continue to leverage our market expertise and deep industry relationships to identify attractive investment opportunities and expand our portfolio in the region.

The acquisition received coverage in:
Multi-Housing News
REBusiness Online
Bisnow
Community Impact
Houston Chronicle

See more of Sentinel's portfolio and learn more about our multifamily assets.

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Lexington Farms features a highly-amenitized pool area, with a poolside firepit, a BBQ pavilion, a ping-pong table, a hammock lounge, a snooker ball court and a bocce ball court.

Sentinel has recently acquired Lexington Farms Apartments, a 404-unit garden-style community in the desirable suburb of Overland Park, 18 miles southwest of Downtown Kansas City.

Originally constructed in 1997, but recently renovated, Lexington Farms features one-, two- and three-bedroom apartments averaging 972 square feet. Over the past two years, a substantial upgrade program was conducted on the property’s common areas, including repainting the building exteriors, remodeling the clubhouse to reflect a contemporary aesthetic and the addition of a business center, Wi-Fi lounge and coffee bar. During the same period, two-thirds of the units were updated to include modern finishes, appliances and fixtures, including quartz countertops, stainless steel appliances, tile backsplashes, shaker-style cabinetry, kitchen islands, wood-style plank flooring in common and wet areas, carpeted bedrooms, ceramic tile baths, full-size side-by-side washers and dryers, soaking tubs, walk-in closets, private balconies or patios and Wi-Fi thermostats. Sentinel intends to realize additional value at the property by renovating the remaining units.

"Lexington Farms presented an attractive opportunity to acquire a partially-renovated multifamily development located in a desirable area supported by strong fundamentals, including good schools and strong local employment centers," said Michael Streicker, President of Sentinel. "We look forward to leveraging our significant expertise to renovate the remainder of the property, realizing additional upside potential."

In addition to the renovated clubhouse, community amenities include a lounge area, a coffee bar and demonstration kitchen, two heated saltwater swimming pools, a poolside firepit, a BBQ pavilion, a ping-pong table, a hammock lounge, a snooker ball court, a bocce ball court, a tennis court, a 24-hour fitness center, a dry sauna, billiards and a dog park.

Lexington Farms is located within walking distance of retail and restaurant developments along the 135th Street corridor including Overland Pointe Marketplace, an 80,000-square-foot retail center with several national tenants. Moreover, Lexington Farms is served by top-ranked Blue Valley School District, which is less than 1.5 miles from the community. Major employers in the area include Cerner, T-Mobile, OptumRx and Overland Park Regional Medical Center, comprising nearly 30,000 jobs. Lexington Park Apartments also benefits from proximity to several of Kansas City’s major thoroughfares such as I-435, I-35 and US-69, which provide convenient access throughout the metropolitan area.

Sentinel has been active in the Kansas City market throughout its 53-year history, having owned and operated 17 multifamily properties in the area. In addition to Lexington Farms, Sentinel currently owns three properties nearby, Weston Point Apartments, Corbin Greens Apartments and The Fairways at Corbin Park Apartments, providing enhanced competitive positioning in the submarket. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The acquisition received coverage in several publications:
Midwest Real Estate Journal
Multi-Housing News

See more of Sentinel's portfolio and learn more about our multifamily assets.

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Main 3 Downtown features a rooftop terrace with a salt water pool, firepit and outdoor kitchen/grilling area.

Sentinel has recently acquired Third Rail Lofts, a 164-unit apartment community located in Downtown Dallas. The transaction provides the opportunity to acquire an institutional-scale asset in a high growth, urban location at a significant discount to replacement cost. Immediately upon acquisition, Sentinel is rebranding the community as Main 3 Downtown.

Consisting of three adjoining buildings – The Flats, The Landmark and The Tower – Main 3 Downtown comprises 164 studio, one- and two-bedroom apartments and three retail spaces. The luxury loft-style residences feature an impressive selection of finishes including stainless steel appliances, walk-in closets, custom cabinetry and granite countertops; however, they were last updated in 2008. Sentinel expects to realize additional value through the execution of a capital improvement program that calls for the modernization of all 164 units. Each building’s lobby will be updated to increase consistency in design and branding across the community. The firm also intends to renovate the amenities, which include a two-lane bowling alley, a billiards room, a small movie theater and a wine tasting room, as well as a pool deck and terrace with a salt-water pool, an outdoor bar with a grilling area, a fire pit, an outdoor movie theater and a private dog walk.

Main 3 Downtown is located in Dallas, which has experienced tremendous growth over the past decade and is now the fourth most populous MSA in the United States. The Downtown submarket in particular has seen more than $7 billion in public and private investment since 2000, leading the area to be recognized as a premier live/work/play neighborhood. The property is situated on Main Street in the center of the Dallas Central Business District, and is within walking distance of employers, retail, restaurants museums and the Dallas Area Rapid Transit (DART) light-rail station. In addition to being home to major corporations such as AT&T, Goldman Sachs and Neiman Marcus Group, the Central Business District is the largest employment center in North Texas with more than 135,000 daytime workers, providing a robust built-in demand driver for rental housing in the area.

"The Dallas economy benefits from a diverse employment base and low cost of living as compared to coastal cities, both of which support strong in-migration trends,” said Michael Streicker, President of Sentinel. “The Downtown area has experienced tremendous growth, and the recently completed AT&T Discovery District and the repositioning of The National on Elm Street have brought renewed vibrancy and livability to the Central Business District. We look forward to implementing a value-enhancing investment program at Main 3 Downtown to update the unit interiors and improve the quality of the amenities for the residents of Dallas."

Sentinel has been active in the Dallas market throughout its 53-year history, having owned and operated 23 multifamily properties and 6 commercial properties in the area. Since its inception, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

The acquisition has received considerable media coverage including:

https://www.multihousingnews.com/sentinel-buys-dallas-apartments/
https://www.connectcre.com/stories/sentinel-real-estate-corp-acquires-dallas-apartment-community/
https://rebusinessonline.com/sentinel-real-estate-buys-164-unit-multifamily-property-in-downtown-dallas/
https://money.yahoo.com/sentinel-real-estate-corporation-acquires-130000673.html

Learn more about Main 3 Downtown here: https://www.main3downtown.com/

The post Sentinel Acquires High-Rise Community in Downtown Dallas appeared first on Sentinel Real Estate Corporation News.

"Apartment communities of this caliber are in high demand in both of these markets given the strong employment fundamentals and high barriers to entry for home ownership," said Michael Streicker, President of Sentinel. "What also made these investments so attractive is that there are no comparable apartment communities under development within three miles of either property, which we expect will support continued strong performance."

Sentinel has been active in the Atlanta and Philadelphia markets throughout its 53-year history, having owned and operated 46 multifamily properties in these areas, comprising over 12,000 units. Since its inception, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities in high growth markets throughout the US.

The Juncture Apartments

The Juncture Apartments is located in the desirable northern Atlanta suburb of Alpharetta within the Forsyth County submarket and enjoys proximity to a growing tech employment hub as well as attractive lifestyle, retail and restaurant destinations.

Completed in 2017, The Juncture Apartments is a 16-building community that features one- and two-bedroom apartments averaging 1,025 square feet. Each residence features stainless steel appliances, granite and quartz countertops, hardwood-style plank flooring, high ceilings with crown molding, walk-in closets, washers and dryers, and a private balcony or patio. Select units include additional storage, built-in wine racks, bookshelves, desks and display niches. Community amenities include a resort-style pool, grilling stations, an outdoor lounge with a fireplace and TV, an outdoor fire pit with entertaining space, a clubroom, and a fitness center, as well as a dog park, a coffee bar and a business center.

Forsyth County is one of Atlanta’s most affluent submarkets, and Alpharetta benefits from one of the strongest school systems in the region with ratings of 8 out of 10 on Greatschools.org. The Juncture is located just west of Highway 400, providing freeway access to the Perimeter/Sandy Springs and Downtown Atlanta employment centers, as well as I-85 and I-285. The property is also conveniently located near two premier mixed-use developments in Alpharetta – Avalon and Halcyon – which boast high-quality retail, restaurants, hospitality and office properties that are home to major employers such as Morgan Stanley, JLL and Alimera Sciences. Other major employers in the submarket include AT&T, ADP and Fiserv.

The Airdrie at Paoli Station

The Airdrie at Paoli Station is located in Upper Chester County, which is one of Philadelphia’s most affluent submarkets. Major employers in the area including Vanguard Group, Siemens Medical Solutions and Saint Gobain, all of which have headquarters within a five- to ten-minute drive of the property. Moreover, the area is home to West Chester University and benefits from one of the strongest school systems in Pennsylvania with ratings of 8 out of 10 on Greatschools.org. The Airdrie at Paoli Station is adjacent to the Paoli Amtrak/SEPTA Station and proximate to a variety of lifestyle, retail and restaurant destinations as well as major interstates including I-95, I-476 and I-76. These locational advantages support the property’s attractiveness to a range of potential renters.

The Airdrie at Paoli Station was constructed in 2020 and features one- and two-bedroom apartments averaging 978 square feet. Unit finishes include quartz countertops, stainless steel appliances, tile backsplashes, shaker-style cabinetry, kitchen islands, wood-style flooring in common and wet areas, ceramic tile baths, washers and dryers, walk-in closets, private balconies/patios, and keyless entry. Community amenities include a clubhouse with a clubroom, a coffee bar, a conference room, a media room, a 24-hour fitness center, a swimming pool and a pet station as well as on-site storage and package lockers.

The acquisitions received coverage in Multifamily Executive and The Philadelphia Business Journal:

Multifamily Executive
Philadelphia Business Journal

Learn more about Sentinel's portfolio, which includes multifamily, commercial and build to rent.

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3000 Sage Apartments is optimally located in the desirable Galleria/Uptown submarket of Houston, an affluent area that is often referred to as the city’s second downtown. The property is located in close proximity to the area’s major employment hubs, including the Uptown Houston office submarket, the 11 million-square-foot Greenway Office Park, and Downtown Houston, which are home to hundreds of employers – including 10 of the city’s 26 Fortune 500 companies – representing hundreds of thousands of jobs. Texas Medical Center, the largest medical center in the world with 106,000 direct employees and 72,000 students, is also within five miles of the property. 3000 Sage Apartments is located two blocks from the Houston Galleria Mall – the largest mall in Texas – and provides convenient access to Houston airports and a variety of retail, restaurant and entertainment options via the I-610 Inner Loop, Westpark Tollway and I-69.

"In 3000 Sage Apartments, we have recognized an opportunity to acquire a high-quality asset in a desirable market that has seen significant increases in demand driven by consistently strong job and population growth,” said Michael Streicker, President of Sentinel. “Multifamily vacancy rates are currently at their lowest point since 2015, and the region saw 20,000 net move-ins in the first half of 2021 – the strongest two quarters on record. The property is well positioned to capitalize on that demand, ideally situated in the heart of several high-profile employment hubs in Houston. This acquisition exemplifies our proven investment strategy, and we look forward to making improvements that create an even better place for our residents to live."

Built in 2004, 3000 Sage Apartments is a four-story, 324-unit apartment complex comprising one- and two-bedroom units averaging 1,006 square feet. Each residence features high-quality finishes such as nine- and 10-foot ceilings, granite countertops, large garden tubs, hardwood-style floors, walk-in closets, full-sized washer-dryers and intrusion alarms. Select units include stainless steel appliances, a private patio or balcony, a private office with built-in computer desk, glass front cabinets, double vanities in the bathrooms and travertine flooring. Community amenities include two resort-style pools, a cabana with gas grills, a well-appointed fitness center, two resident lounges, and an electronic parcel locker system.

Sentinel intends to realize additional value through a capital improvement program that will both enhance the shared amenities – including the pools, lounges, lobby and fitness center – and upgrade all interior finishes to include stainless steel appliances and wood-style flooring. The firm will also leverage its deep institutional knowledge and experience owning and operating multifamily assets to explore additional opportunities to improve the resident experience.

Sentinel has been active in the Houston market throughout its 51-year history, having owned and operated 28 multifamily properties in the area, comprising over 9200 units. Since its inception, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

The post Sentinel Real Estate Corporation Acquires 3000 Sage Apartments in Houston appeared first on Sentinel Real Estate Corporation News.

“In Hill House at Chestnut Hill, we are acquiring a well-repositioned asset where we can leverage strategic capital improvements to create additional value,” said Michael Streicker, President of Sentinel. “The neighborhood’s high barriers to entry make it difficult to build – interestingly, only 700 units have been delivered within a three-mile radius of the property since 1991. With no new supply planned in the market for the foreseeable future, an average household income of $158,000, and a submarket vacancy rate of 4.2 percent, there are numerous factors that we expect will continue to make this property and location attractive.”

Located in the heart of historic Chestnut Hill – which is known as Philadelphia’s garden district and was named by Forbes as one of the top seven urban enclaves in the United States – Hill House at Chestnut Hill provides amenity-rich living with skyline views of the city across a range of floorplans, from studios to three-bedroom, three-bathroom apartments. Each unit features luxury finishes such as quartz countertops, stainless steel appliances, hardwood floors and spacious closets. Community amenities include a 24-hour doorman, a fitness center, a resort-style pool, an outdoor patio living space, and a resident lounge with complimentary Starbucks on tap.

The previous ownership has executed an extensive capital improvement program, which comprised upgrades to interior units and building systems, as well as improvements to common spaces including the lobby, leasing office, common hallways, outdoor amenities and landscaping. Sentinel has the opportunity to realize additional value creation by renovating the remaining interior units over time.

Over its 51-year history, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

The post Sentinel Acquires Hill House Community in Desirable Philadelphia Suburb appeared first on Sentinel Real Estate Corporation News.