MultiVersity Housing Partners Acquires a Two-Property Portfolio in Pittsburgh's Historic South Side Neighborhood

PITTSBURGH, Jan. 18, 2022 /PRNewswire/ --MultiVersity Housing Partners ("MVHP") has recently acquired The Revival on Carson portfolio. The Revival on Carson is a 47-unit, class A+ conventional housing portfolio consisting of two properties known as The Maul and Nakama buildings. The assets are in one of the city's most in-demand neighborhoods, Southside. The properties total approximately 12,750 SF of first-floor retail. These properties have corner frontage on Carson Street which is a historically high foot and automobile traffic area. This core location has attracted long-term retail tenants that have occupied the first-floor retail space for more than 10 years. Not only are the assets located in core locations, but they have undergone complete renovations while maintaining the 1900's-built historical integrity. These renovations include high-end finishes that enable the properties to achieve premium rental rates.

The modern upscale features include hardwood flooring, expansive kitchens, granite countertops, tile showers, and stainless-steel appliances. Community amenities include two rooftop decks (with views of Carson St and the Pittsburgh skyline), resident lobby, fitness center, individual security systems, and private lot parking.

MultiVersity Property Management will bring their boutique-style approach and expertise in property management to operate this property more efficiently. MVPM will be adding outdoor kitchens to the rooftop decks, additional fitness equipment, a business center, and updated lobby features to enhance the property for residents.

"MultiVersity is excited to be in Pittsburgh's historic South Side neighborhood," said Principal of MVHP, Anthony Magnelli. "The Revival's unrivaled location directly on Carson Street, premium unit features and amenities, and private on-site parking set the asset apart from its competition."

Christopher Feeley, CEO and Managing Partner of MVHP, is "excited to be adding these high-end apartment assets to its growing portfolio of multifamily properties consisting of market-rate apartments, workforce housing, and off-campus purpose-built student housing."  Mr. Feeley further stated, "we are looking for more multifamily assets to acquire within the Pittsburgh market".

MultiVersity Property Management ("MVPM") is the property management division of MultiVersity Housing Partners ("MVHP"). MVPM's mission is to become the recognized leader in its targeted markets for property management services. MVHP is seeking market-rate apartment, workforce housing, and purpose-built student housing acquisitions throughout the Mid-Atlantic, Midwest, and Southeastern U.S. The guiding principle of MVPM is to treat each property as its own individual business first and foremost.

MVPM operates with a total focus on its portfolio of managed properties (both owned and third-party) and its owners/customers. MVPM provides several services that fit the needs of today's conventional and student housing residents, while at the same time focusing on owner requirements and expectations.

SOURCE MultiVersity Housing Partners