This is Resia’s Third Project in Georgia

ATLANTA, Ga. - Resia (formerly known as AHS Residential) announces it has closed on construction financing for a 476-unit apartment community located in northeast Atlanta. Bank of America provided the $60 million construction financing for this project. The project broke ground in the first quarter of 2022 and is expected to be delivered in the third quarter of 2023.

“We are very appreciative to the Bank of America team for their partnership on this project. We look forward to expanding our relationship as we continue to grow our presence in Atlanta,” said Carlos E. Gonzalez, chief investment officer for Resia.

This will be Resia’s third project within the Atlanta metropolitan area. Located at 4151 Memorial Drive, the new Resia community will deliver 476 workforce units across five 7-story mid-rise buildings, with a portion of those units, 20%, being AMI restricted.

With one-bedroom, two-bedroom, and three-bedroom floor plans, all apartments will feature modern finishes, stainless steel appliances, and in-unit laundry. Resia communities are built with young professionals and families in mind and include desirable amenities like assigned parking, business center, and a multipurpose clubhouse complete with a swimming pool and fitness center.

Resia is rapidly scaling up its development activities with the goal of delivering 8,000 new apartments annually by 2025. The company is on a mission to help solve the U.S. housing crisis by building quality apartments in growing metros where many renters are getting priced out by rising rents.

Resia, formerly known as AHS Residential, is an award-winning, vertically integrated real estate company that specializes in developing, building, and managing quality multifamily communities across the United States. Our mission is to deliver exceptional living experiences to the millions of American households currently spending more than half of their income on rent. Resia is a division of MRV&Co (MRVE3:BZ), one of the largest homebuilders in the world. For more information, please visit www.liveresia.com.

AHS Residential, a rapidly growing multifamily developer with Miami origins, announced today a complete company rebranding, including a new name and visual identity to support the company in its continued expansion across the U.S.

AHS Residential will now officially operate as “Resia,” a name carefully selected to communicate the company’s functional design, construction expertise, and dedication to its residents.

For the past ten years, AHS Residential has excelled at building quality apartments efficiently and providing exceptional living experiences for accessible prices. Today, as the housing affordability crisis continues to impact the lives of millions of families, Resia signifies the company’s remarkable progress and solidifies its commitment to making a difference.

“We have entered a new phase of our company’s evolution, and in a competitive industry, it’s more important than ever for our brand to stand out from the pack, and convey our purpose and culture,” said Ernesto Lopes, President and CEO of Resia. “This new name effectively captures our essence as a leader in the multifamily space and supports our goal of becoming a household name in the United States.”

Resia presently has more than 5,000 units under development in fast-growing metros in Florida, Texas, Georgia, and has plans for Colorado, D.C., and Arizona.

With support from its parent company MRV, Resia has been on a rapid expansion—the company is purchasing land for development in major markets throughout the Southeast and has more than doubled its workforce in the past two years. The company intends to deliver 8,000 new apartment units annually by 2025.

A key to Resia’s accelerated growth is its modular construction approach, which enables the company to build apartment communities 30 to 40 percent faster than traditional methods.

“Our construction method allows us to build quickly and achieve cost-savings that are passed on to our residents,” said Lopes. “Our goal is to help residents balance their immediate need for quality rental housing with their long-term goals for financial health and stability – we believe both are possible.”

Resia communities appeal to renters across the spectrum, from young families and working millennials, to small business owners and entrepreneurs, to empty nesters and active seniors.

Resia, formerly known as AHS Residential, is an award-winning, vertically integrated real estate company that specializes in developing, building, and managing quality multifamily communities across the United States. Our mission is to deliver exceptional living experiences to the millions of American households currently spending more than half of their income on rent. Resia is a division of MRV&Co (MRVE3:BZ), one of the largest homebuilders in the world. For more information, please visit www.liveresia.com

Berkadia announces it has arranged the sale of Village at Lake Worth and Village at Lake Osborne, two apartment communities with a total of 336 units in Palm Beach County, Fla.

Senior Managing Directors Roberto Pesant and Jaret Turkell of Berkadia Miami,  Associate Omar Morales and Senior Financial Analyst Jose Mota of Berkadia Miami marketed the property on behalf of the seller, AHS Residential, a Miami-based vertically integrated real estate company that specializes in developing, building, and managing high-quality multifamily communities across the United States. Social Housing Inc. acquired the properties for a combined $81.5 million.

“Outsized demand combined with the County’s under-supply drives the submarket’s strong apartment fundamentals,” said Pesant.  “The Lake Worth submarket remained at 95% occupancy or above in 2020 and is poised for additional rent growth.”

Built in 2017 and located at 2430 Lake Worth Road, Village at Lake Osborne offers 118 units of one- and two-bedroom apartments averaging 700 square feet to 855 square feet. Individual units offer 10-foot ceilings, open kitchen floorplans, modern cabinetry with soft closing doors and drawers, granite countertops in kitchen and bathrooms, stainless-steel appliances, a washer and dryer in every apartment, vinyl plank flooring, impact resistant windows and a private balcony or patio. The gated community amenities feature a resort-style swimming pool, 24-hour fitness center, a multipurpose clubhouse, a children play area and complimentary Wi-Fi in the common areas.

Built in 2015 and located at 2220 Lake Worth Road, Village at Lake Worth offers 216 units of one-, two- and three-bedroom apartments averaging 700 square feet to 1,200 square feet. Individual units include 10-foot ceilings, open kitchen floorplans, modern cabinetry with soft closing doors and drawers, granite countertops in kitchen and bathrooms, stainless-steel appliances, a washer and dryer in every apartment, vinyl plank flooring, impact resistant windows and a private balcony or patio. Community amenities include a resort-style swimming pool, a BBQ and picnic area, a 24-hour fitness center, a multipurpose clubhouse with a kitchen and billiards table, a children play area and complimentary Wi-Fi in common areas.

Located in Palm Beach County, both the Village at Lake Osborne and the Village at Lake Worth are centrally located with fast and easy access to both north and southbound I-95 and are close to the Palm Beach State College, Downtown Lake Worth, Lake Worth Beach Park, John Prince Park, the JFK Medical Center, Palm Beach State and the Palm Beach County Park Airport.