RKW Residential Expands Management Portfolio
More than 2,800 units have been added to the firm's holdings.
RKW Residential has expanded its multifamily management portfolio with the addition of 13 new communities comprising more than 2,800 units. While some properties are new developments, RKW has also taken new assignments from preexisting clients. The firm has entered several new markets, mostly throughout the Carolinas, including assets in Asheville and Concord, N.C., and Huntsville, Ala.
Bluerock Real Estate, who was already a client, tapped RKW to manage five more communities: Galleria Village, Greylyn Estates and Harrison Trace Apartments, all of which are in Charlotte, N.C., as well as Wayford at Concord in Concord, N.C., and Glenwood at Grant Park in Atlanta.
The Asheville property RKW will oversee is McCall Capital’s Enclave Piney Mountain. The firm will handle all leasing and management of the luxury community.
In Madison County, where Huntsville is located, RKW will manage the Highfield Madison Apartments, a newly built asset owned by i3 Interests.
“Huntsville has intense demand for new rental product from engineers, PhD’s, tech firm employees and other high-earning professionals,” Marcie Williams, CEO at RKW Residential, told Multi-Housing News. “Highfield Madison brings 258 brand-new luxury apartments to the market under the established Highfield brand. We look forward to a successful partnership and are pursuing additional opportunities in the Huntsville market.”
Other new communities to manage include:
- LM Sandler & Son Inc.’s The Lorrel in North Myrtle Beach, S.C.
- LM Sandler & Son Inc.’s The NinetyNine in Raleigh, N.C.
- Zach Tran-led Diamondback Investment Group’s The Point at Caldwell Station in Huntersville, N.C.
- Armada Hoffler’s Chronicle Mill in Belmont, N.C.
- Cherner Development’s 511 Queens in Charlotte
Including these new additions, RKW now manages properties across seven states.
RKW’s Past Year
In March, Alfred, a residential technology company, acquired RKW after raising $125 million. The first $50 million went towards initial closing while $75 million was put towards upcoming purchases.
Before the acquisition, RKW had been expanding its portfolio in Florida. In February, the firm added more than 1,500 units to its management across Central, South and North Florida.
For the past three years, RKW has been one of Multi-Housing News’ top multifamily management firms.