NEW YORK, NY – New York-based family offices, Beitel Group and the Scharf Group have acquired 1,918 multifamily units for the purchase price of $325 million.
The units are located across Virginia, Kentucky, Wisconsin and Missouri.
The joint-venture partners plan to upgrade and enhance the properties in order to attain an increased rent premium.
Recommended For You
The companies intend to upgrade the properties' interiors and exteriors with amenities, such as a new business center, state-of-the-art fitness center, clubhouse, playground, dog park and leasing office.
The partners also plan to implement new roofing, sidings, windows and appliances, as well as resurfaced counters, new cabinet doors, faux wood flooring, upgraded lighting, multi-sport courts, grilling stations and a luxury pool-side experience.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
