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SOUTH BEND, Ind., Dec. 17, 2020 /PRNewswire/ Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation s leading multifamily developers, announced today the completed sale of The Villas on Fir, a 290-unit Class A, Big House® multifamily community in the South Bend-Mishawaka MSA to Gray Capital for an undisclosed price. The South Bend-Mishawaka area offered an opportunity to develop a quality site with best-in-class product in a market with limited new market rate competition, said Brian Southworth, senior vice president, acquisition for Watermark Residential. That combination provided for a successful lease up and allowed us make an opportunistic sale based on the appetite of capital chasing new construction.
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The True Life Companies Acquires Seven Acres Outside Denver for Duplex Development
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DENVER, Dec. 15, 2020 /PRNewswire/ The True Life Companies (TTLC), a real estate private equity firm focused on repurposing underutilized property to create new housing options in high-need U.S. markets, announced today the newest addition to its portfolio of seven acres of land in Adams County that it has identified as a prime location for the development of for-sale duplex homes.
Located at 6501 Lowell Boulevard, the parcel is approximately one-half mile from RTD FasTracks B-Line Westminster Station and just three stops from Union Station in downtown Denver. TTLC will begin the planning, entitlement and development process that results in a shovel-ready site that is expected to deliver new housing for the next generation of homeowners.
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DENVER, Dec. 11, 2020 /PRNewswire/ Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation s leading multifamily developers, announced today the sale of Watermark at First Creek, a 264-unit Class A multifamily community in Denver. California-based Borello Asset Management, Inc. bought the property for $74.65 million. Denver has been one of the fastest growing areas in the nation for more than a decade, said Josh Purvis, managing partner with Watermark. This population growth, combined with a lack of affordable single family housing has created strong investor demand and skyrocketing multifamily values. With Watermark s commitment to building communities based on style, convenience and luxury, it s no surprise that Watermark at First Creek was especially attractive to investors.