Multifamilybiz-com News

CLIFTON PARK, NY - MLG Capital, a national leader in private real estate investments, announced its acquisition of Kensington at Halfmoon, a 200-unit multifamily community located in the Clifton Park submarket of the Albany, New York MSA. Built in 2014, Kensington at Halfmoon features expansive one‑ and two‑bedroom residences, direct‑access private garages, and a highly competitive amenity package, including a resort‑style pool, fitness center, yoga studio, movie theater, game lounge, and dog park. Kensington at Halfmoon exemplifies the type of institutional‑quality asset we seek: strong in‑place cash flow, durable fundamentals, and long‑term value support, said Daniel Price, Chief Investment Officer and Principal at MLG Capital. The property offers a compelling […]

ALEXANDRIA, VA - Bonaventure, an operator-led multifamily real estate investment firm with approximately $2.8 billion in assets under management (AUM), announced the closing of Royal Pointe Apartments, a 208-unit multifamily community in Virginia Beach, VA. The $39.5 Million acquisition was completed through Bonaventure Multifamily Income Trust (BMIT) and demonstrates the company s continued focus on value-add multifamily investments across the Mid-Atlantic and Southeast regions. The transaction incorporated a combination of tax-efficient structures, including a partial 1031 exchange and a 721 exchange (UPREIT), providing flexibility and liquidity options for the investors. Bonaventure worked with Greystone to assume the property s existing financing as part of the acquisition. In a […]

CHARLOTTE, NC - Housing Impact Fund (HIF), an innovative investment fund aimed at preserving and providing quality affordable housing in the increasingly expensive Charlotte rental market, announced more than $100 million of private sector capital raised to acquire, renovate and protect 1,500 apartment units serving some 5,000 low- and moderate-income residents through its third and largest fund to date. The announcement follows HIF's success in acquiring, since 2020, nearly 2,000 apartments that are near jobs, transportation, essential services and good schools. Upon acquisition, all apartment communities are renovated so that they are not only affordable but also a quality place to live and raise a family. All apartments are protected with restrictions, so they remain affordable for […]

BRONX, NY - Community Access, a non-profit organization that expands opportunities for people living with mental health concerns to recover from trauma and discrimination through affordable housing, training, advocacy, and healing-focused services, joined co-developer Mega Group and state and local officials to celebrate the groundbreaking of 521 East Tremont Avenue. This new $162 million development in the East Tremont/Crotona neighborhood of the Bronx is co-developed by Mega Group, Community Healthcare Network, and Community Access. The 213-unit development will provide a mix of affordable and supportive housing for income-eligible individuals and families, and individuals living with mental health concerns who have experienced homelessness. Ground-floor retail will also contribute to […]

PLANTATION, FL - MAXX Properties, a privately held, a vertically-integrated multifamily owner, operator and investment manager, announced the acquisition of The Ellery, a 250-unit, Class A multifamily community located in Plantation, a highly desirable submarket in South Florida. The transaction was sourced directly through an off-market arrangement with the seller. Originally built in 2018, the community – formerly known as Bell at Plantation – has been rebranded as The Ellery, reflecting MAXX's long-term vision for the property and its connection to the local community. The name pays homage to Ellsworth D. Gage, the first mayor of Plantation, grounding the asset in the city's history while positioning it for future growth. "This acquisition reflects our continued focus on […]

FORT WASHINGTON, PA - Local officials joined prominent East Coast developer Jefferson Apartment Group (JAG) and equity partner CP Capital to celebrate J Veridian Upper Dublin, an amenity-rich, 310-unit Class A community in Fort Washington, Pennsylvania. Located at 1125 Virginia Drive, the site of a former office park, the community comprises three 5-story buildings and 8 acres of walkable open space with a 1.4-mile trail connecting to the Cross County Trail. Upper Dublin Township has worked to revitalize and reimagine the office park as a mixed-use hub with commercial, residential, and recreational offerings. And up until today, the residential was missing, Upper Dublin Township Commissioner Harm Scherpbier said during the April 14 ribbon-cutting. I believe that more residential […]

WEST BABYLON, NY - Preservation Equity Fund Advisors (PEF Advisors), a real estate private equity group focused on preserving existing affordable housing in high-cost markets, announced their recent acquisition of Belmont Villas, a 164-unit apartment community in West Babylon, New York. Belmont Villas is located in Suffolk County, a high-cost rental market on Long Island's South Shore. The units at Belmont Villas are restricted to residents aged 55 and older. The property is located on Long Island, approximately one hour from New York City. Built with low-income housing tax credits in 2009, the property is restricted to residents with income levels at 60% of Area Median Income (AMI). The property is comprised of eight two-story residential buildings in a low-density setting with 13.9 […]

WASHINGTON, DC - The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Marshall Heights Community Development Organization (MHCDO), announced the financial closing and groundbreaking of The Waymark, a 109-unit, affordable community in Washington, D.C. s Ward 7. The new housing development will be reserved for families and individuals earning up to 30%, 50% and 80% of the Area Median Income (AMI). The milestone underscores The NRP Group s commitment to expanding its national portfolio of high-quality, best-in-class affordable housing at a time when the country faces heightened economic uncertainty and tightening capital markets. This is a uniquely challenging site, but it offers great connectivity through the […]

NEW YORK, NY - GID, a vertically-integrated real estate owner, operator, developer and investor with $32.1 billion in assets under management, announced the continued expansion of GID Residential Partners, its national development platform, with a strategic entry into the Mid-Atlantic market. The initiative will be led by industry veteran Duncan Jones, who joins the firm as Senior Managing Director. Building on GID s longstanding multifamily development experience, the entry into the Mid-Atlantic market, comprising Maryland, Washington D.C., Northern Virginia and North Carolina, represents an extension of the Company s recently announced GID Residential Partners platform. GID's presence across these states reflects the firm's ongoing focus on expanding its private market real estate […]

LAS VEGAS, NV - The Bascom Group has acquired The Ellison, a 294-unit apartment community located at 9235 West Russell Road in the Summerlin/Spring Valley submarket of Las Vegas, Nevada. The purchase price was $103,000,000, or $350,340 per unit. Lee Redmond, Nicholas Schroeder, Vincent Punzi, and Lowell Takahashi of Newmark arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The Newmark Investment Sales team led by Jonathan Merhaut, Doug Schuster, and Curt Allsop represented the seller on the transaction. Cushman & Wakefield has been engaged as property manager for the community. Completed in 2024, The Ellison is a premier Class A five-story apartment community offering studio, one-bedroom, and two-bedroom floor plans […]

LYNNWOOD, WA - American Capital Group (ACG), a full-service real estate investment and development company, and Clarion Partners, a leading real estate investment manager, announced the completion and opening of Enso Apartments, a 316-unit multifamily community located at 19630 40th Ave W, Lynnwood, Washington. Enso Apartments is a transit-oriented development (TOD) located within a federally designated Qualified Opportunity Zone in the heart of Lynnwood City Center. Ideally positioned along Interstate 5 and walkable to the Lynnwood Link Light Rail Station, Enso offers residents convenient access to Downtown Seattle and connections to major employment centers across the Greater Seattle area. The development reflects ACG and Clarion s focus on transit-connected, high-growth markets where […]

COLUMBUS, OH - Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on Landmark on Scioto, a new affordable housing community in Columbus, Ohio. The development marks LAC's first ground-up construction project in the State of Ohio and will provide 321-units of high-quality, affordable housing to residents earning up to 60% of the area median income (AMI). "LAC is proud to partner with state and local leaders to deliver homes that support families, strengthen neighborhoods and contribute to Columbus' long-term vitality," said James Riley, LAC Vice President and Regional Project Partner. "Landmark on Scioto represents a meaningful investment in this community, and we look forward to providing high-quality, affordable housing to the […]

DALLAS, TX - Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Ardan community in Dallas, TX. Built in 2018, the Class A, 389-unit high-rise community is located in the desirable West Village neighborhood of Uptown Dallas. Knightvest plans to implement a comprehensive value-add renovation program at Ardan, investing significant capital to modernize the large indoor amenity space, including a full upgrade of the clubhouse, fitness center, and pool area to better compete with newer luxury product in the submarket. A select number of units will also be renovated to a premium finish level, complemented by enhancements to common areas, landscaping, and technology offerings such as smart home features and bulk Wi-Fi. Together, these […]

ST PETERSBURG, FL - National multifamily developer Wood Partners officially closed on Alta Roosevelt in St. Petersburg, Florida. The centrally located 381-unit multifamily community is slated to break ground in May and deliver in April 2028. Alta Roosevelt was entitled through the City of St. Petersburg's affordable housing code and Florida's Live Local Act, which allows for multifamily development on sites not originally zoned for residential use. As part of the project, 40% of the units will be reserved for residents earning at or below 120% of the area median income, helping meet demand for attainable housing in the market. The development will involve demolishing the existing office building, while the structured parking garage will be retained and upgraded to serve future residents. […]

FORT WORTH, TX - Olympus Property acquired Ascend by the Sea, a newly constructed 216-unit Class A luxury apartment community located in Millville, Delaware—along Southern Delaware's popular Beaches corridor. This marks Olympus' first asset in the Mid-Atlantic region and a strategic step in the firm's continued expansion into one of the East Coast's fastest-growing coastal markets, where limited supply, strong population growth, and a diverse set of economic drivers support long-term multifamily performance. "In recent years, the Mid-Atlantic, due to its stable apartment economics and leading employment markets, emerged as an expansion target for the Olympus portfolio," said Eduardo Miranda, Director of Investments at Olympus Property. "The acquisition of Ascend by the Sea reflects our […]

VIENNA, VA - Middleburg and Harbor Group International announced the closing of construction financing for Scottwood, a 299-unit Class A multifamily development located at 4400 West Broad Street at the boundary of the City of Richmond and Henrico County. Construction is set to commence this April, with initial deliveries anticipated in late 2027. The project is a joint venture between Middleburg and affiliates of Harbor Group International. Financing was provided by Truist Bank. With this investment, HGI has now surpassed $1 billion in total development investments since 2023, having participated as a limited partner in multiple development joint ventures spanning more than 3,600 units nationwide. A central site within Henrico County's Westwood Revitalization/Reinvestment Opportunity […]

OCEANSIDE, CA - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Neptune, a contemporary midrise community within walking distance to Strand Beach in Oceanside. Modera Neptune, which will feature 359 homes, will also include a boutique hotel. The podium-style community sits within a short walk of Ocean Harbor Beach and moments west of key thoroughfare Interstate 5. The 62-room hotel will be horizontally integrated into the eight-story building but will operate independently and not provide access into the residential portion of the community. First move-ins are anticipated for fall 2028. "In addition to its prime location along the Pacific Coast, Modera […]

RALEIGH, NC - National multifamily developer Wood Partners closed on Alta Watkins in Morrisville, North Carolina in partnership with PGIM, the world's second largest real estate investment manager with $218 billion in gross assets under management and administration. The 357-unit multifamily community will break ground this month and is slated to open by the end of 2028. Sarah Godwin and Karl Hudson with Foundry Commercial represented the seller in the transaction. "Alta Watkins' proximity to the region's growing life sciences hub positions the community as an ideal home base for professionals, students and families alike," said Caitlin Shelby, Managing Director with Wood Partners. "With its impressive line-up of amenities, residents will live in an oasis that combines resort-style living […]

IRVINE, CA - MBK Rental Living, a preeminent lifestyle developer of apartment communities, announced that leasing has begun at Las Brisas, a 340-unit luxury community in Santa Maria, California. The highly anticipated Santa Barbara County property is now leasing and open for move-ins. "Las Brisas was designed with intention—bringing together the comforts of modern living with the natural beauty of the Santa Maria landscape," said Ken McCarren, President of MBK Rental Living. "Our goal is to create communities where residents feel inspired, can unwind, and build meaningful connections with their neighbors. Las Brisas embodies this vision throughout every aspect of the community, both inside the homes and across the shared spaces." Las Brisas features a variety of layouts, including one-, […]

BETHESDA, MD - Walker & Dunlop announced that it has arranged the joint venture partnership between AIP, Pointsfive, and Bridge Investment Group for the landmark $132 million redevelopment of the former Greyhound Bus Station in Richmond, Virginia into a multifamily community. The firm secured the equity, in addition to an $85.6 million construction financing with Madison Realty Capital. Upon completion, the 550,000-square-foot project will deliver 386 Class A residences and over 14,000 square feet of retail in Richmond s Scott s Addition District, one of the city s fastest-growing neighborhoods. We are honored to collaborate with this exceptional best-in-class partnership. Together, we will bring a world-class residential experience, with curated urban retail spaces that emphasize […]