Multifamilybiz-com News

CONYERS, GA - Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, in partnership with Nuveen, announced the start of leasing at Emblem Conyers, Quarterra's latest community in the Atlanta market. Emblem Conyers is a 264-home garden-style community in Conyers, Georgia, a charming town on the eastern edge of the Atlanta Metro Area. Conyers offers the best of both worlds, pairing a small town feel with urban shopping and cultural opportunities. The area features excellent schools, convenient retail and exceptional regional accessibility. Emblem communities were created by Quarterra to help address the nationwide shortage of attainable housing available to middle-income renters. Emblem Conyers is […]

MILWAUKEE, WI - CIBC announced its involvement in the Thrive on King project, a historic adaptive reuse initiative that will transform a former department store building into 90 units of affordable housing in downtown Milwaukee. "We are excited to be a part of the Thrive on King project, which will not only create much-needed affordable housing, but also contribute to the preservation of Milwaukee's rich history," said Tony Hernandez, head of Community Investment at CIBC Bank USA. "CIBC is especially passionate about this project because it represents a significant investment in Milwaukee's future, and we are proud to be a part of it," said Hernandez. CIBC's $45.5 million commitment through equity investment and construction lending will play a pivotal role in realizing the vision of this […]

DALLAS, TX - Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the construction completion of Perch Denton, a 195-unit, single-family build-for-rent community in the Dallas suburb of Denton, Texas. Capital Square has partnered with Good + West Residential and Montgomery Street Partners as co-developers on the project. Substantially all certificates of occupancy have been issued and nearly one-third of the homes are already occupied with strong leasing activity underway. "Capital Square is a vertically integrated, national real estate firm built on three pillars: invest, build and manage," said Louis Rogers, founder and co-chief executive officer of Capital Square. "Perch […]

AUSTIN, TX - In partnership with the Housing Authority of the City of Austin (HACA), The NRP Group celebrated the grand opening of The Markson, a 330-unit mixed-income housing development in Austin s coveted Barton Springs community. As a part of both organizations commitment to creating affordable housing options for Austin residents, more than half of the units will be reserved for residents earning 80% of the Area Median Income (AMI). The Markson meets the neighborhood s demand for quality, accessible workforce housing, and embodies the vision that Dan Markson carried throughout his 30-year career. Through his tireless efforts, bold leadership, and brilliant partnership development, Dan Markson changed the affordable housing landscape, leading to the creation of over 29,000 […]

ALEXANDRIA, VA - CIM Group announced that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia. CIM Group acquired the community in December 2017. Located at 140 South Van Dorn Street, Mason at Van Dorn provides residents spacious homes offered in a range of floor plans from studio to two-bedroom configurations. The property features an on-site convenience store and deli as well as two resort-style swimming pools, tennis courts, barbeque and picnic areas, and other outdoor gathering and recreation areas. Over the course of its ownership and management of this substantial apartment community, CIM Group instituted a program of improvements to Mason at Van […]

LAREDO, TX - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, announced its partnership with Texas A&M International University (TAMIU) to manage the Office of Housing and Residence Life to create a well-rounded operations and residential life program for the University's two student housing communities, the Residential Learning Community and University Village. "We're excited to work with Texas A&M International University to create an elevated experience for students who live in campus housing," Bradley Shaw, Senior Director of Real Estate, said, "We view student housing as more than just a place to live, and plan to develop a student life that will help build a new culture among student […]

AUSTIN, TX - Endeavor Real Estate Group announced that its newest apartment community, Solomon, is open and welcoming residents. Professionally managed by Greystar, Solomon is comprised of 369 apartment homes in studio, one- and two-bedroom layouts that range from approximately 500 to 1,340 sq. ft. The residences feature smart home technology including Bluetooth-enabled entry locks, Wi-Fi-enabled lights, smart thermostats and USB ports throughout powered by AT&T Fiber. Other features include built-in serving bars and wine fridges, premium wood-look floors, custom full-height cabinets with brass pulls, large windows for natural light, custom closet shelving, and oversized laundry rooms. The rooftop pool and amenity deck steals the show with 270-degree views, a 25-foot video display, […]

DALLAS, TX - Waterford Property Company, The Vistria Group, and Northern Liberties, in partnership with the Dallas Housing Finance Corporation (DHFC), announced the acquisition of a 395-unit class A multifamily community located at 8169 Midtown Blvd. in Dallas. The joint venture purchased the property, known as Domain at Midtown Park, and at the same time entered into a long-term ground lease with the DHFC. With this acquisition, the owners will immediately restrict rents for new qualified residents to create stable workforce housing as part of an agreement with DHFC in exchange for 100 percent property tax abatement for 99 years. "Core to our investing and impact philosophy is that creating more affordable housing is a crucial element in building more resilient households and vibrant […]

SAN ANTONIO, TX - Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced it has sold BLVD at Medical Center, a 248-unit apartment community in San Antonio. The firm acquired the property in June 2016, and after instituting a comprehensive capital improvement program, closed the sale on March 19. Hamilton Zanze's successful renovation efforts included upgrades to the apartment homes, building exteriors, common-area amenities and landscaping. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently. "We are very pleased with the disposition of BLVD at Medical Center," said Anthony Ly, Senior Director of Transactions at Hamilton Zanze. "As we always […]

PEARLAND, TX - Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of Discovery at Shadow Creek Ranch apartment community in the growing Houston suburb of Pearland, Texas. With this acquisition, Knightvest now owns an active portfolio of over 35,000 units, firmly establishing itself as one of the largest apartment owners in the United States. Originally built in 2010, the 347-unit apartment community features spacious garden-style buildings. Knightvest plans to renovate and reposition the property by updating unit interiors with contemporary finishes to meet the demands of modern residents. Additionally, Knightvest plans to enhance the property's amenities, including an expansion and renovation of the fitness center, pool, and […]

JACKSONVILLE, FL - Multifamily real estate investment firm, Southeast Property Group, has acquired a two-property, 328-unit apartment portfolio in Jacksonville, Florida. Due to the distressed nature of the properties, Colonial Forest and Northwood Apartments will be re-branded to The Belmont and Avenue at 1601, respectively. The Florida based investment firm has already begun a $9.7 million renovation program that includes significant updates, such as: new roofs, exterior paint, re-plumbing, amenity and landscape upgrades and other improvements, including updates to all of the apartment unit interiors. "We are very excited to have had the opportunity to purchase both assets at below market pricing. We're looking forward to improving not just the look of the properties, but the overall […]

JERSEY CITY, NJ - Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced that it has completed a $71 million acquisition, preservation and renovation project at Grandview Terrace Apartments, a 283-unit senior housing complex located in the Journal Square Neighborhood of Jersey City, New Jersey. The upgrades to Grandview Terrace encompass a variety of holistic improvements including building modernization, energy efficiency upgrades, unit renovations and the addition of an enhanced, high-definition monitoring system providing site wide security coverage and ensuring adherence to HVPG's community standards. "We're elated to unveil the revitalized Grandview Terrace, a collaborative effort with the Jersey City Housing Authority (JCHA) and […]

WASHINGTON, DC - TM Associates, United Planning Organization (UPO), and Gilbane Building Company were joined by the Department of Housing and Community development (DHCD), Department of Human Services (DHS), DC Housing Finance Agency (DCHFA), partners, and community members to announce the grand opening of MDXL Flats Apartments, a highly anticipated affordable residential community offering 101 affordable apartments in the heart of Washington, DC's Buzzards Point neighborhood. MDXL Flats Apartments joins sister community, MDL Flats, in setting a new standard for affordable luxury housing that blends seamlessly into the city's sleek skyline adorned with glass-clad architecture. From modern interiors, vibrant community space, and views overlooking Nationals Park and the Capitol Building, […]

CHANDLER, AZ - Olympus Property announced the acquisition of Alta Chandler at the Park, a prominent residential community situated in Chandler, Arizona. As a premier community, Alta Chandler at the Park offers residents access to luxury living and unparalleled career opportunities. With 291 units, this four-story, mid-rise community represents a significant addition to Olympus Property's portfolio, furthering the company's mission to invest in top-tier properties in thriving markets. Olympus Property currently oversees a portfolio of approximately 31,000 units across various markets. This acquisition further strengthens the company's multifamily portfolio of approximately 5,500 Class A units in the Phoenix metropolitan statistical area (MSA) and aligns with Olympus Property's commitment […]

PITTSBURGH, PA - BAM Capital, alongside development partner Milhaus, proudly introduces Nox, a transformative Class A+ multifamily community project set in the burgeoning area of Robinson Township, Pittsburgh, PA. This strategic collaboration marks a significant milestone in offering sophisticated living spaces and investment opportunities in one of the most dynamic and economically vibrant regions of the United States. BAM Capital has a legacy of excellence in real estate investment. Founded on a commitment to integrity, innovation, and excellence, BAM Capital has established itself as a leader in the multifamily real estate sector. With a keen eye for emerging market trends and an unyielding dedication to maximizing investor returns, BAM Capital has successfully managed properties that […]

PORTLAND, OR - JLL Income Property Trust, an institutionally-managed daily NAV REIT with approximately $7 billion in portfolio equity and debt investment, announced the acquisition of Creekview Crossing, a class-A 183-unit apartment community located in the suburban Portland market of Sherwood, OR. The purchase price was approximately $61 million and includes the assumption of an in-place $26 million mortgage loan, which has an attractive below-market interest rate of 3.09%. "Supported by strong fundamentals and demographic tailwinds, the residential sector is one of our highest conviction property sectors, producing inflation-hedging rental growth that we believe will be a stable and growing source of income for our stockholders," said Allan Swaringen, President and CEO of JLL Income […]

SAN ANTONIO, TX - Wood Partners, a national multifamily real estate development leader, unveiled the grand opening of Alta Rolling Oaks, its latest luxury residential community in San Antonio. Located at 6710 N. Loop 1604 E. in North Central San Antonio, Alta Rolling Oaks promises convenient access to a myriad of shopping, dining, and entertainment options across the city. From The Forum at Olympia to Bulverde Marketplace and the renowned Shops at La Cantera, residents can indulge in a vibrant lifestyle. Additionally, the prime location opens doors to numerous job opportunities with top employers such as Amazon, H-E-B, USAA, Joint Base San Antonio (JBSA), and thriving healthcare and cybersecurity sectors. "Wood Partners is thrilled to officially unveil Alta Rolling Oaks, our latest luxury […]

HOUSTON, TX - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera Waugh, an elegant apartment community located just south of popular Buffalo Bayou Park near Downtown Houston. The 17-story community, which features 392 apartment homes, sits moments south of Allen Parkway and adjacent to the picturesque River Oaks neighborhood. The amenity-rich community features a rooftop deck with panoramic views of the city, a variety of high-end apartment finishes and a multitude of co-working spaces for the ever-increasing remote worker. First move-ins are anticipated for April 11. "Modera Waugh features a prime location that will put residents within reach of virtually […]

DENVER, CO - An affiliate of Oberndorf Real Estate Management (OBREM) and The Bascom Group, announced they have closed on the acquisition of the 360-unit Hearthstone at City Center, located at 932 South Helena Way in vibrant Aurora, Colorado, for $74 million. Hearthstone marks Bascom's fourth acquisition of 2024 and comes shortly after the recent acquisitions of The Overlook, a 344-unit garden style multifamily property located in Albuquerque, New Mexico and Texan26, a 204-bed student housing community in Austin, Texas. Once the largest multifamily owners in the state of Colorado, Hearthstone is Bascom's 37th acquisition in the state and 10th acquisition in the city of Aurora. Constructed in 1984 as a low-density community comprised of forty-one buildings across 18.25 acres, Hearthstone […]

FORT WORTH, TX - Rise48 Equity, a leading multifamily investment group, announced the acquisition of Copperfield Apartments in Fort Worth, Texas. This 323-unit complex marks the company's 49th acquisition since 2019 and its 9th in the Dallas market, further strengthening its Texas portfolio. Rise48 Equity has plans to invest over $9 million in revitalizing Copperfield Apartments, which will soon be rebranded as Rise Spring Pointe. The property renovations include: Platinum-level interior upgrades: White shaker doors, Quartz countertops, plumbing fixtures, stainless steel appliances, vinyl flooring, and updated lighting. Transformative exterior: Fresh 3-tone paint, pool area improvements, a redesigned leasing office, landscaping enhancements, and a new LED-backlit monument sign. Rise48 […]