Chesapeake Apartments
Austin, TX

Property Address:
12300 Hydemeadow Dr.,
Austin, TX 78750

Acquired in December 2024, the 124-unit Chesapeake Apartments is BPG’s 4th project in Texas and the 3rd in Austin.

The project had been poorly maintained and managed by the previous ownership. The apartments consist primarily of classic and partially renovated units. BPG intends to enhance revenue at the property by renovating the units as well as the property exterior and common areas to achieve rent premiums.

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Villas de Azul Apartments
Phoenix, Arizona

Property Address:
2627 N. 45th Ave.,
Phoenix, AZ 85035

Acquired in June 2019, Villas de Azul is a garden-style 301-unit apartment community built in 1972. The apartment complex consists of 32, two-story block and concrete buildings situated on a park-like setting with a spacious courtyard with mature landscaping.

The community's amenities feature three swimming pools, barbecue/picnic areas, three onsite laundry facilities, children's playground, courtyards with mature landscaping, two sport courts, and a clubhouse.

Sold in 2020, the investment provided appreciable returns for its investors.

The Sofia Apartments
San Antonio, Texas

Property Address:
6900 N. Vandiver Rd.,
San Antonio, TX 78209

A 111-unit project, the Sofia Apartments are located in the Alamo Heights submarket of northeastern San Antonio. 

Existing onsite amenities include picnic areas, a swimming pool, and a central courtyard. The team plans to invest in and add value to the property by improving landscaping and other common areas, as well as renovating apartment interiors. 

The project was sold in 2020.

Cannon Oaks Apartments
Austin, Texas

Property Address:
2302 E. William Cannon Dr.,
Austin, TX 78744

Acquired by the Sterling Real Estate Holdings JV in early 2018, Cannon Oaks Apartments is a 230-unit complex built in 2001.

The property features a fitness and business center, basketball court, playground, swimming pool, and spa. Sterling plans to upgrade the property's landscaping, signage, clubhouse, and unit kitchens.

The project was sold in 2020 for a profit.

Cielo
Phoenix, Arizona

Property Address:
8222 N. 19th Ave.,
Phoenix, AZ 85021

After the acquisition of Maya Linda Apartments, a complex comprised of 336 units in Phoenix, the team rebranded the property "Cielo" as an homage to the beautiful Arizona sky. Ownership soon initiated improvements to the leasing office, clubhouse, model, and common areas. In January 2018, Cielo was sold, providing a return on investment for the parties involved. 

Sterling on 28th
Phoenix, Arizona

Property Address:
11821 N. 28th Dr.,
Phoenix, AZ 85029

A 224-unit property, the Brentwood Apartments were purchased in June 2015, and soon rebranded as Sterling on 28th.

Ownership arranged a 70% LTV bridge financing at closing, along with a strategic private investor capitalization structure that took advantage of the below-market entry point and under market rents.

Ownership then repositioned the asset and updated the leasing office, clubhouse, model, and common area amenities.

Rebranded, refurbished, and revitalized, Sterling on 28th was sold in 2016 for a very attractive return to investors.

Chestnut Park
San Antonio, Texas

Property Address:
901 W. Silver Sands Dr.,
San Antonio, TX 78216

Chestnut Park, a 145-unit property, was acquired by the partnership in March 2016. Updates to the leasing office, clubhouse, model and common areas have enhanced the asset's overall environment for tenants and visitors, as well as adding value for investors. The project was sold in 2017.

Radius Apartments
Phoenix, Arizona   

Property Address:
2925 N. Greenfield Rd.,
Phoenix, AZ 85016                                          

Acquired by the Sterling team in July 2017, the Radius Apartments is a 130-unit complex built in 1970.

At the time of acquisition, many of the units' interiors had already been renovated. The team plans to proceed with improvements to the property's exterior features, such as paint, landscaping and other common areas, as well as exterior branding and signage.

The project was sold in July 2019 for a return to investors.

Seventh Apartments
Phoenix, Arizona

Property Address:
5145 N. 7th St.,
Phoenix, AZ 85014

Acquired in June 2018, the 286-unit Seventh Apartments are located in Phoenix's Uptown area.

Onsite amenities include a basketball court, picnic areas, and two swimming pools. The team invested in and added value to the property by upgrading paint, landscaping, signage. The complex's office and apartment interiors were also renovated.

When it was sold in early 2021, the investment provided impressive returns for its investors.

Muir Lake 
Austin, Texas

Property Address:
12600 Avery Ranch Blvd.,
Cedar Park, TX 78613

In a Joint Venture with DRA Advisors, Muir Lake was acquired in early 2019. The 332-unit, Class A apartment complex was built in 2014 and is part of the 189-acre recreational Lakeline Park master plan that includes trails along the lake, open play fields, water activities, and festival areas.

This property was sold in 2021 well above the Pro Forma sales price

The Life at Castle Hills
San Antonio, Texas

Property Address:
1401 Patricia Dr.,
San Antonio, TX 78213

The Life at Castle Hills was acquired in early 2019. The 230-unit apartment complex was built in 1981.

The team initiated a series of improvements to the common areas and unit interiors. When it sold in 2021, the property provided a substantial return to investors.

The Palm View
Azusa, CA

Property Address:
1311 N. Azusa Ave.,
Azusa, CA 91702

The Palm View Apartments was acquired in concert with The Azusan Apartments and The Riviera Apartments between October 2019 and 2020, creating a small portfolio of 116 units with an immediate proximity allowing the assets to be managed more efficiently as one property. BPG was able to further increase value though better management, seismic upgrades, repairing deferred maintenance, upgrading the aesthetics and common areas as well as providing attractive unit interiors. BPG was able to see successfully sell all three assets and meet the pro forma returns.

The Riviera Apartments
Azusa, CA

Property Address:
1381 San Gabriel Canyon Rd.,
Azusa, CA 91702

The Riviera Apartments was acquired in concert with The Palmview Apartments and The Azusan Apartments between October 2019 and 2020, creating a small portfolio of 116 units with an immediate proximity allowing the assets to be managed more efficiently as one property. BPG was able to further increase value though better management, seismic upgrades, repairing deferred maintenance, upgrading the aesthetics and common areas as well as providing attractive unit interiors. BPG was able to see successfully sell all three assets and meet the pro forma returns.

The Azusan
Azusa, CA

Property Address:
1345 N. San Gabriel Ave.,
Azusa, CA 91702

The Azusan was acquired in concert with The Palmview Apartments and The Riviera Apartments between October 2019 and 2020, creating a small portfolio of 116 units with an immediate proximity allowing the assets to be managed more efficiently as one property. BPG was able to further increase value though better management, seismic upgrades, repairing deferred maintenance, upgrading the aesthetics and common areas as well as providing attractive unit interiors. BPG was able to see successfully sell all three assets and meet the pro forma returns.

The Hendrix
Las Vegas, NV

Property Address:
2635 Karen Ct.,
Las Vegas, NV 89109

Acquired in August 2021, the 278-unit The Hendrix is BPG's first multifamily project in Las Vegas.

The project had been poorly maintained and managed by the previous ownership. BPG has undergone an extensive rehabilitation of the asset as well as improving the operations and tenancy. BPG will also be rebranding the asset to better fit the upgraded unit interiors and tenant amenity spaces.

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Mission Capp
San Francisco, CA

Property Address:
2155 Mission St.,
San Francisco, CA 94110

When BPG was developing a major office building in San Francisco, rather than pay housing linkage fees, BPG took on the challenge of actually providing the requisite housing which met the goal of the S.F. Office of Housing Production.

Mission Capp was formed to develop, own, and operate what would become the Leandro Soto Apartments, comprised of 46 residential units for lower-income residents, meeting S.F. affordability guidelines. The project was completed on schedule and was heralded by the Mayor of San Francisco as a model public-private partnership. BPG still owns the project.