It has been a busy year for Metonic, with the team working hard to pursue new opportunities and distributing over $44 million in proceeds to our partners. As the Metonic team looks forward to expanding our strategy and maximizing value in the new year, here is a brief look back at ten key wins from 2024.
Top 10 of 2024
Breaking New Ground on Build-to-Rent
In November, Metonic and APOGEE broke ground on Ravello Homes, our first build-to-rent development. The community will feature 134 thoughtfully designed two-, three-, and four-bedroom homes in the top-ranked Elkhorn Public School District. This innovative development combines classic Metonic amenities, such as smart home technology and luxury finishes, with the privacy and comfort of single-family living. Residents will also enjoy private yards, a community playground, and a pool.
Metonic is approaching this new project type with established development expertise, leveraging construction and lease-up insights from previous Elkhorn Class A developments: Ravello 192 and Capriana Homes.
Two New Acquisitions
In 2024, Metonic acquired two Midwestern multi-family communities: Legacy 23 in Columbus, NE, and The Oaks at Lakeview in Ralston, NE. Together, these properties add over 350 apartment homes to the Metonic portfolio.
Built in 2011, The Oaks at Lakeview is a three-story walk-up apartment community offering a wide variety of one- and two-bedroom floor plans. The community features amenities like a swimming pool, clubhouse, fitness center, and package locker room. After the acquisition, APOGEE renovated the community common areas and amenities spaces. The team plans to work with our property management partner to gradually refresh units at turnover.
Legacy 23 is a modern four-story apartment building in Columbus, NE. Acquired in early 2024, Metonic and APOGEE collaborated with our investment partners to execute a capital improvement plan to enrich the resident experience and create value.
Metonic Delivers California Apartments
Metonic is proud to welcome its first California residents to Millennium Apartments in Palm Desert. This new community will feature 330 modern studios, one-, two-, and three-bedroom apartments. Residents will enjoy a range of amenities, including a clubhouse, fitness room, and pool. With two apartment buildings now open and 15 total buildings planned, Millennium is set to redefine desert living.
Leadership Team Development
Building on the strong foundation of Metonic’s established leadership team, 2024 executive appointments and promotions elevate the company’s collective expertise, empowering the team to drive strategic initiatives and achieve sustainable growth.
In April, Metonic appointed Jasin Alfaro as CEO. With over 26 years of experience in private equity and real estate, Jasin has a proven track record of leading high-impact investments, developing real estate, and managing significant capital. With his deep understanding of the industry and alignment with Metonic’s values, Jasin is well-equipped to lead the company into a new phase of strategic expansion in key midwestern markets.
Supporting this expansion, Josh White has been promoted to Chief Business Development Officer (CBDO) and partner. Over the past five years, Josh has been pivotal in leading capital raises, fostering strategic partnerships, and driving exceptional growth. Under his leadership, Metonic has grown its investor base by 10x and raised over $250 million in equity for multifamily acquisitions and developments. In his new role, his leadership and vision will continue to shape Metonic’s success.
Metonic’s New Hires Strengthen Investment Strategy and Capital Growth
In 2024, Metonic welcomed Ari Perlmutter, David Kugler, Rachel McCown, and Kayden Person to the team. These new hires bring a wealth of expertise to Metonic.
Ari Perlmutter, Director of Investments, develops Metonic’s multifamily acquisition strategy, with David Kugler, Investment Analyst, supporting his team through underwriting, market research, and due diligence. Together, they are advancing Metonic’s presence in key Midwest markets.
Rachel McCown joined Metonic to manage investor relations and capital raising. She works closely with Josh White, Chief Business Development Officer, to drive business development and strengthen communication with investors.
Kayden Pearson, Asset Management Analyst, plays a key role in analyzing and optimizing Metonic’s portfolio, ensuring effective performance tracking and strategic planning. Together, these strategic hires are positioning Metonic for continued success in the multifamily sector.
San Antonio Portfolio
Metonic successfully sold three communities in San Antonio, Texas. Las Brisas, Songbird, and Villas of Oak Creste, featured one- and two- bedroom homes in a fast-growing sunbelt city. The sales capitalized on strong market demand in early 2024.
Capriana Homes Wins CRE Summit Development of the Year
The Commercial Real Estate Summit recognized Capriana Homes as their CRE Development of the Year. A collaboration between Metonic/APOGEE and Habitat for Humanity of Omaha, the project features 149 luxury Apartments alongside 11 affordable habitat homes. “APOGEE has enabled the creation of affordable homeownership opportunities in Elkhorn, an area with limited entry-level home-buying options,” said CRE Summit Co-Chair Chris Mensinger. Kassie Inness accepted the award on stage at the CHI Health Center alongside Amanda Brewer, CEO of Habitat for Humanity of Omaha.
The Apartminium portion of the project features studio, -one-, -two-, and three-bedroom homes with high-end finishes, stainless steel appliances, and smart home technology.
Vestara 72 Wins CoStar Development of the Year
Metonic’s Vestara 72, a 154-unit Apartminium complex in Papillion, Nebraska, won a 2024 CoStar Impact Award for Development of the Year. The 154-home Apartminium community, conveniently located near HW-370 and Shadow Lake Towne Center, features luxury amenities like a clubhouse, sparkling pool, 24-hour fitness center, and a private yoga room with a smart fitness mirror. “Architectural design and quality, along with a focus on environmentally conscience living environment make this property stand out,” said CoStar judge and president of R&R Realty Group Mike Homa.
Largest Ever Metonic Multifamily Forum
This year, Metonic held our largest-ever Multifamily Investment Forum. Over 130 investors, lenders, partners, and real estate professionals gathered at Champions Run in Omaha to listen to experts discuss multifamily market trends, acquisition strategies, and the emerging build-to-rent (BTR) sector.
“I want to ensure that you leave having learned something more about real estate that will make you a better real estate professional,” said Metonic CEO Jasin Alfaro. The forum featured valuable insights from respected real estate economist Jay Parsons, Dundee Bank owner and co-founder Jeff Royal, and members of the Metonic team.