SUMMERVILLE — A real estate and development firm out of Beverly Hills, Calif., marked its first entry into the Charleston market with the $51.5 million purchase of a Berkeley County apartment complex. Ascenda Capital, which focuses on workforce and affordable multifamily housing, acquired the 232-unit Bryant at Summerville. Located at 325 Marymeade Drive, Bryant at Summerville… Continue reading Beverly Hills company acquires Summerville housing complex for $51.5M
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Eastham JV Wraps Up Metro Houston Value-Add Deal
A joint venture between Eastham Capital and Mosaic Residential sold Veranda and Stone Ridge Apartments, two adjacent communities totaling 448 units in Texas City, Texas. Ascenda Capital and the Texas City Housing Authority purchased the assets, merging them into one property, according to Yardi Matrix data. CBRE Capital Markets originated a $41.4 million Freddie Mac… Continue reading Eastham JV Wraps Up Metro Houston Value-Add Deal
Ascenda Capital Expands California Footprint
Totaling 234 units, the two properties will be converted to affordable housing. Ascenda Capital has acquired two multifamily communities in California’s East Bay for $86.5 million. The properties, totaling 234 units, are located in the East Bay cities of San Leandro and Hayward, and were sold by Trion Properties. Using value-add renovations and operational strategies,… Continue reading Ascenda Capital Expands California Footprint
Workforce Housing Being Created in Escondido
Workforce Housing Being Created in Escondido Two Escondido Apartment complexes have been purchased through the California Municipal Finance Agency with plans to turn them into workforce housing with reduced rents. The complexes are Solana at Grand, 1501 E. Grand Ave., and Latitude 33, located at 515 Meander Glen. Rents in the two complexes will be… Continue reading Workforce Housing Being Created in Escondido
Ascenda Capital acquires Two Class A Apartment Communities in Houston
Ascenda Capital is excited to announce the successful acquisition of two apartment communities, totaling 585 units, in Houston, TX. In September & October of 2021, the firm acquired Towne West Apartments and The Broadway in separate transactions. The firm purchased Towne West Apartments directly from the previous owner in an off-market transaction. The Broadway was… Continue reading Ascenda Capital acquires Two Class A Apartment Communities in Houston
Build-To-Rent (BTR): Detached Housing And The Future Of Multifamily
Build-to-rent (BTR) is a relatively new asset class that has been quietly gaining traction among both boutique and institutional investors. This exciting new asset class is exactly what it sounds like: a community of high-quality detached single-family rental properties rife with shared amenities. Historically, a developer building a community of single-family homes would follow the… Continue reading Build-To-Rent (BTR): Detached Housing And The Future Of Multifamily