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Located in the heart of Jacksonville’s Arlington area, Green Phin Flats is a 127-unit apartment community acquired in December 2024. This property spans 10 buildings and offers a mix of studio, one-, two-, and three-bedroom units, ranging in size from 600 to 1,300 square feet. Residents enjoy convenient amenities such as a clubhouse, a pool, a playground, and two laundry facilities. The property maintains a high occupancy rate, reflecting its strong appeal among local renters.
Situated across the street from Jacksonville University, the community is ideally positioned to benefit from the area’s ongoing revitalization. The Arlington neighborhood is part of Jacksonville’s Renew Arlington Redevelopment Plan, an ambitious initiative to enhance its appeal. Additionally, Jacksonville is undergoing a transformative $2 billion redevelopment project, further solidifying its status as a vibrant and forward-looking city.
To complement these efforts, Green Phin is pursuing grants for exterior renovations and making substantial operational improvements. These include hiring new maintenance staff, introducing a full-time on-site superintendent, and implementing a rebranding initiative as the renovations progress. Green Phin Flats aims to provide comfortable, modern living while contributing to the area's transformation and growth.
Crossland Manor Apartments is a 48-unit affordable housing community in Clarksville, Tennessee, built in 2008. Offering spacious two- and three-bedroom units, the property is governed by a Land Use Restriction Agreement (LURA), which ensures its commitment to providing low-income housing for the community. With four and a half years remaining under the agreement at the time of acquisition, the property’s long-term potential includes a transition to market-rate rents by 2029.
Since its acquisition in June 2023, Crossland Manor has undergone significant operational improvements, including the introduction of a full-time, on-site superintendent to handle maintenance and landscaping. This change has enhanced property management efficiency and reduced operating expenses, ensuring a more streamlined and resident-focused approach.
Strategically located just southeast of downtown Clarksville, Crossland Manor benefits from its proximity to major employers such as Austin Peay State University, Fort Campbell Army Base, and corporations like Amazon and LG Electronics. Residents enjoy easy access to retail, dining, and recreational amenities, including the Greenway Trail System and River Walk. With Clarksville’s growing economy and vibrant community, Crossland Manor Apartments is positioned to thrive as a desirable and well-maintained housing option for years to come.
Located at 218-222 New Brunswick Avenue in Perth Amboy, New Jersey, this 7-unit mixed-use property features four residential units (one three-bedroom and three four-bedroom apartments) and three commercial retail spaces. At the time of acquisition in August 2022, residential rents were well below market rates, and commercial tenants were not contributing to Common Area Maintenance (CAM) or tax payments as outlined in their leases, presenting a significant opportunity for operational improvements.
Since acquisition, a series of strategic enhancements has transformed the property. Residential rents have been adjusted, with increases achieved through proactive lease management and modest fee implementations. Additionally, a non-performing commercial tenant was replaced with a long-term lease occupant, bringing greater stability and higher rental income to the property. Renovations on one of the apartments have elevated the unit's appeal, enabling the property to align more closely with local market expectations.
These targeted improvements reflect a commitment to proactive asset management, enhancing both the residential and commercial spaces while fostering tenant satisfaction. This mixed-use property now stands as a prime example of thoughtful management and the potential for creating value through strategic operational adjustments.
Oak Real Estate Investments acquired a 12-unit building in Rahway in 2018, recognizing the town’s ongoing transformation fueled by significant downtown development just half a mile away. At the time of acquisition, the building offered immediate potential for improvements. Renovations completed during tenant turnovers included upgrades such as granite countertops, modern cabinetry, and enhanced flooring, bringing the property in line with market expectations and significantly enhancing its appeal.
Within the first few years, these strategic updates resulted in higher rental rates and improved tenant satisfaction. The property continues to benefit from its prime location near the revitalized downtown area, attracting strong demand and supporting steady rental growth. This investment demonstrates the value of proactive property management and thoughtful renovation strategies.
By maintaining a long-term outlook, Oak Real Estate Investments has positioned the property for sustained growth. With ongoing improvements and the vibrancy of Rahway’s expanding downtown, this 12-unit building exemplifies the potential of targeted investments in dynamic markets.
Princeton McKinley is a 60-unit senior affordable apartment complex located just two miles from downtown Princeton, nestled within an upscale townhome portfolio. Built in 2001, the property features spacious two-bedroom, two-bathroom layouts and operates under an affordability deed restriction set to expire in 2031. This restriction ensures that the property remains accessible to senior residents while adhering to affordability guidelines during the term.
Since its acquisition, Princeton McKinley has undergone proactive management to ensure it remains a desirable housing option for the senior community. The property’s well-maintained condition and strategic location contribute to its appeal, offering residents convenient access to downtown Princeton’s amenities while enjoying the tranquility of the surrounding neighborhood.
Looking ahead, the property is poised for continued success, with opportunities to adjust operations and enhance its value as market conditions evolve. Princeton McKinley exemplifies thoughtful stewardship and commitment to maintaining quality senior housing in a sought-after area.
Coriander Drive LLC holds a portfolio of 17 three-bedroom, 2.5-bathroom condominium units, acquired in 2014. At the time of purchase, rents were below the area’s market rates. To address this, management implemented strategic renovations during tenant turnovers, including new cabinetry, granite countertops, modern bathroom fixtures, and durable laminate flooring. These upgrades significantly enhanced the units’ appeal and increased rental rates.
During the COVID-19 pandemic, rents remained stable, but the property has since benefited from market expansion, with current rents reflecting strong demand for high-quality housing. Management continues to focus on improving tenant quality and making enhancements to the units to maintain competitiveness in the local rental market.
Coriander Drive LLC exemplifies a well-managed investment property, benefiting from proactive management, thoughtful renovations, and a commitment to long-term growth. This approach ensures the portfolio remains a strong and reliable asset with continued income potential.
Bradford Green Apartments, situated on the outskirts of the scenic beach town of Havre de Grace, Maryland, comprises 74 three- and four-bedroom units. The property is undergoing community-focused revitalization, with plans to expand and enhance the living environment over time.
At the time of acquisition, the units were fully occupied, but deferred maintenance had accumulated under previous ownership. These issues have been actively addressed, with significant improvements made during the initial transition. Many tenants were long-term residents who had not experienced substantial updates or enhancements to their homes, contributing to a need for modernized management practices.
To further elevate the property, a refined tenant screening process has been introduced, aiming to attract a balanced mix of residents who value and contribute to the community. Property upgrades and proactive management continue to enhance the quality of living, aligning the apartments with modern standards while preserving the charm of the neighborhood.
Bradford Green Apartments is on track to become a highly desirable and well-maintained community, reflecting its commitment to excellence in residential living.
Bridge Street Apartments is a 52-unit affordable housing community built in 1999, featuring spacious four-bedroom apartments. The property is governed by an affordability deed restriction that ensures its commitment to providing accessible housing for the community. The community remains highly sought-after, with a three-year waiting list demonstrating strong demand.
Bridge Street Apartments is well-maintained, with a dedicated full-time maintenance technician certified in HVAC repairs, ensuring prompt and reliable service. Shortly after acquisition, the management team introduced a cost-optimization strategy, streamlining operations by consolidating roles and improving efficiency while maintaining quality service for residents. The apartments’ spacious layouts and convenient location make them a desirable housing option for families and individuals. Bridge Street Apartments offers residents easy access to local amenities, schools, and public transportation, contributing to its reputation as a vital part of the community.
With thoughtful management and continued focus on quality maintenance, Bridge Street Apartments remains a valued resource for affordable housing, ensuring long-term success and stability for its residents.
248 Roselle is a 24-unit apartment building featuring two-bedroom, one-bath units, acquired in July 2021. At the time of purchase, the building required significant upgrades due to years of deferred maintenance. Management immediately addressed critical issues, including a deteriorating roof and an inefficient gas-powered hot water heating system that had caused high utility costs and operational challenges. A new high-efficiency, self-contained electric heating and cooling system was installed, improving energy efficiency and enhancing tenant comfort.
Management has also focused on improving unit interiors. Within the first year, two vacant units were renovated, achieving higher rental rates and setting the standard for future upgrades. Renovated units now command significantly higher rents, reflecting the building's enhanced appeal and alignment with market standards. The continued development in the surrounding area is driving demand, further supporting efforts to modernize the property and maximize its potential.
With its proactive management approach and commitment to improving both the property and tenant experience, 248 Roselle has established itself as a well-maintained and desirable community. Ongoing enhancements position the property for long-term success and growth in a competitive rental market.
The following three properties are located in Carneys Point, New Jersey, just before the state line with Delaware. This area benefits from exceptional transportation access, with major routes such as the New Jersey Turnpike, Interstate 295, Route 130, and Highway 40 all converging here. Although primarily agricultural, Carneys Point is undergoing a transformation, with plans for 17 million square feet of warehousing, as major retailers secure large distribution facilities in the area. Additionally, the nearby port, one of the largest cold storage ports in the country, enhances the region's appeal for logistics and distribution. With access to 66 million households within a day's drive, the area is becoming an increasingly strategic location for large-scale distribution operations.
The Carney Shell property spans 40 acres at the intersection of the New Jersey Turnpike, Interstate 295, Route 130, and Highway 40, with 10 acres of usable land. This prime location is well-suited for the construction of a large warehouse, potentially designed for cold storage use, with a building size of approximately 243,000 square feet and 90-foot ceilings.
The project has already secured all necessary approvals, with several developers expressing interest in the property. The approved plan for the warehouse development positions the site for significant future value, benefiting from its strategic location and infrastructure connectivity.
This property presents a promising opportunity for development in a highly accessible area, with ample potential for future growth and commercial success.
Carney Red Barn is a seven-acre parcel located at 896-900 Courses Landing Road, featuring a 7,000-square-foot restaurant and a smaller 2,000-square-foot building. Acquired in December 2022, the property is strategically situated across from a 500,000-square-foot Wawa distribution warehouse and diagonally from a 1.2 million-square-foot Amazon warehouse. Additionally, Wawa is planning to develop a 400,000-square-foot cold storage distribution facility on an adjacent corner.
Located in an opportunity zone, Carney Red Barn offers a variety of potential uses, including the possibility of developing a 92,000-square-foot warehouse with up to 90-foot ceilings, making it well-suited for cold storage or cannabis operations. The property also presents opportunities for truck parking, with ongoing efforts to secure the necessary approvals. There has been strong interest in leasing the parking lot, with full approvals expected within the next six months.
35 Central Schoolhouse Road is a strategically located parcel in Carneys Point, adjacent to Exit 4 on Interstate 295. The site is well-positioned to capture significant traffic from the surrounding warehouse facilities, with many vehicles passing en route to the interstate. Amazon operates a natural gas fueling station for its delivery vans nearby and has expressed interest in leasing additional land for truck and van parking. Several service station operators have also shown interest in leasing the property. To maximize its utility and value, the approval process is underway for a parking lot and potential service station development.