AJ Capital Partners Unveils Memoir Residential Platform

The luxury brand's first locations will be in Portland, Ore., Nashville and New Orleans.

Memoir Wedgewood Houston in Nashville. Image courtesy of Adventurous Journeys Capital Partners

Adventurous Journeys Capital Partners is launching its Memoir Residential platform. The national multifamily portfolio, which will combine hospitality and design expertise with flexible leasing options, plans to open its first property in Portland, Ore., this fall.

Located at 1010 SE Ash St., Memoir Buckman will have 132 units and be located next to Soho House Portland, a private members club which is set to open in the historic Troy Laundry Building in late 2023. AJ Capital is partnering with Soho House to restore the property and has also worked on the club’s Chicago and Nashville, Tenn., houses.

The Memoir Residential assets, to be located in what AJ Capital describes as storied neighborhoods, will be a combination of ground-up developments and adaptive reuse of existing properties. Following its anticipated October opening of the Portland location, Memoir Wedgewood Houston in Nashville is slated to be the platform’s second property to open in January 2024. The site, at 1125 4th Ave. South, will feature 273 units and be located near a Soho House property.

Nashville-based AJ Capital plans to roll out Memoir Residential properties in several other cities over the next three years. These will include a property in New Orleans, due to open in March 2024, and locations in Miami and Austin, Texas. Several additional Nashville sites are also expected.

The properties will have studios, one-, two- and three-bedroom layouts. Leasing options will include fully furnished residences for shorter-term business or leisure stays, starting at 15-day minimums. There will also be unfurnished residences for traditional leases.

Memoir Residential Features

Memoir Wedgewood Houston in Nashville is slated to open in early 2024. Image courtesy of Adventurous Journeys Capital Partners

Memoir is AJ Capital’s first branded multifamily residential platform, according to prepared remarks from Anil Bhagat, managing director at Memoir Residential. The platform’s in-house design will curate living room concepts for each property rather than a typical lobby. They will be designed to reflect the unique character of each neighborhood and foster interaction opportunities, according to a statement from the developer. Amenities at the properties will include food and beverage programming, entertaining areas, swimming pools, fitness studios, bicycle storage space, pet grooming areas and coworking spaces.

AJ Capital’s portfolio also includes multifamily apartments, single-family rentals, hotels, creative offices, retail and entertainment venues. The company owns more than 100 assets across more than 50 markets worldwide.  In February, AJ Capital launched Outpost Residential, a single-family development platform of amenity-focused, built-to-rent communities in the southeastern United States. Communities are slated for Austin, Nashville, Foley, Ala. Savannah, Ga., North Myrtle Beach, S.C., Charleston, S.C., Charlotte, N.C., and Tampa, Fla. The first BTR property, 150-unit Outpost Springs, has already opened in Zephyrhills Fla.

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