RKW Residential Takes On 1,804 Units in the South
- Jul 30, 2019
Multifamily property management firm RKW Residential has recently added eight prime communities totaling more than 1,800 units to its portfolio in North Carolina and Florida, while boosting its leadership team to steer the company’s expanding business.
The new assignments in North Carolina include two communities in Charlotte and one each in Raleigh and Cary. The Florida assignments consist of two properties in Miami and another two on the state’s west coast, in Sarasota and Gulfport.
RKW has also hired Cesar Rosas as director of facilities, overseeing facilities management for the company’s growing portfolio of roughly 18,000 units across seven states, and has promoted Charlotte-based Michelle O’Brien from the position of regional manager to regional vice president.
Growing in the Tar Heel State
The North Carolina communities include:
- Solis Keltonwood at Berewick – 5620 Keltonwood Road, Charlotte (230 units)
- Draper Place – 2433 Randolph Road, Charlotte (47 units)
- Trilogy Cary – 4429 NC-55, Cary (205 units)
- Crabtree Lakeside – 5510 Homewood Banks Drive, Raleigh (221 units)
Developed by Terwilliger Pappas, Solis Keltonwood at Berewick is a new community featuring one-, two- and three-bedroom units nearby the Berewick Town Center. Draper Place is a four-story, boutique apartment building completed last year in Charlotte’s Elizabeth neighborhood. SunCap Property Group broke ground on the property in 2017.
Trilogy Cary is a newly completed property in the municipality of Cary, less than 14 miles west of downtown Raleigh. Crabtree Lakeside, also new, is located north of downtown Raleigh, neighboring the Crabtree Valley Mall.
Taking on luxury in Florida
In Florida, RKW added the following communities to its portfolio:
- Monarc at Met – 201 SE 2nd Ave., Miami (462 units)
- Soleste Twenty2 – 2201 Ludlam Road, Miami (338 units)
- The DeSOTA – 1415 2nd St., Sarasota (180 units)
- Seaside Villas – 3209 58th S., Gulfport (121 units)
With Monarc at Met, RKW took over management and leasing of a 32-story luxury apartment tower that forms part of the Metropolitan Miami mixed-use development in the city’s downtown core. ZOM Living completed the property in 2016. Developed by Estate Investment Group, Soleste Twenty2 is a new luxury community in West Miami.
Bluerock Real Estate recently acquired The DeSOTA for $80.3 million. The high-end property located blocks away from Sarasota Bay, about 40 miles west of Tampa, Fla., was completed in 2017. Seaside Villas is located in Gulfport, a city bordering St. Petersburg in the Tampa metro area. A private buyer scooped up the asset from McKinley Properties last year.