Multifamilybiz-com News

CLEVELAND, OH - Local Cleveland officials joined The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, and University Hospitals (UH), one of the nation's leading health care systems, for a ribbon-cutting ceremony to celebrate the grand opening of The Davis Apartments (The Davis), a 52-unit affordable housing apartment community, and the UH Community Wellness Center in Cleveland s Glenville neighborhood. The community is The NRP Group s third "Health and Housing" development, conceived to address social determinants of health (SDOH). The first project, Residences at Career Gateway in Columbus, Ohio, opened in 2018; the second, Via Sana in the Clark-Fulton neighborhood of Cleveland opened in 2022. Each of these affordable housing […]

TAMPA, FL - Covenant Capital Group, a leading real estate investment manager with an exclusive focus on value-add investments in apartment communities, sold Seven Lakes at Carrollwood, a 640-unit multifamily property located in Tampa, Florida. Seven Lakes at Carrollwood, a garden style apartment community located in Tampa, Florida, sold in October. The multifamily property sits on over 39 acres and offers residents unique amenities like a sparkling swimming pool, fully equipped fitness center, and an upscale clubhouse. Seven Lakes at Carrollwood required a comprehensive renovation of the interiors, exteriors and amenities of the property to be in line with current renters expectations. The property is nearby abundant retail options at the Plaza Citrus Park Mall, Westfield Citrus Park […]

FORT WORTH, TX - Local real estate developers, community partners and residents celebrated the grand opening of Cowan Place Senior Living. It was built with the assistance of a $750,000 Affordable Housing Program (AHP) subsidy provided by the Federal Home Loan Bank of Dallas through one of its members, Texas Capital Bank in the Stop Six neighborhood of Fort Worth, Texas. The development is part of a transformation plan designed to improve the Stop Six neighborhood in Fort Worth with affordable housing and neighborhood amenities. The plan includes replacement of the former Cavile Place public housing community with new, mixed-income rental residences in six phases of development. It includes a neighborhood hub for recreation, educational, health and safety services, commercial districts […]

TEMPE, AZ - MG Properties, a leading real estate investment and management firm, announced its $100.25 million acquisition of NOVO Broadway Apartments (formerly known as Parc Broadway), a residential community located in Tempe, Arizona recently completed by Evergreen Devco, Inc.. Key features of NOVO Broadway Apartments include its prime location in Tempe, offering residents easy access to growing employment centers anchored by large technology, manufacturing, and health care companies. The property's luxurious amenities, contemporary architecture, and commitment to fostering a sense of community distinguish it as a sought-after residential destination. "NOVO Broadway Apartments is a high-quality community that is well positioned to benefit from regional employment growth, making it an […]

CONROE, TX - Encore on the Rise purchased Encore Rise, for $47.1 million in Conroe, Texas. Located just north of Houston, the contemporary, suburban residential community was acquired by Encore on the Rise on November 15, 2023, with the total Real Property value of $47,100,000. Encore Rise is located at 800 N FM 3083 Rd. W. in Conroe, Texas. The modern living of Encore Rise incorporates rich amenities into every 1, 2, and 3 bedroom apartment floorplan, including sleek, state of the art kitchens with granite countertops, stainless steel appliances, luxurious bathrooms with soaker tubs and even private patios/balconies. Within the controlled access property, Encore Rise offers multiple active community gathering spaces with health and recreational amenities such as a fitness center, pool […]

AUSTIN, 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 EaDo, a luxury apartment community just east of The Domain, which is commonly referred to as Austin's second downtown. The wrap-style community, which features 377 apartment homes at 11604 Stonehollow Drive, is situated less than a mile from The Domain and near a vast array of vibrant dining, retail and entertainment options. The convenient location is also within a short commute of many of Austin's thriving employment and entertainment districts. "It's amazing to witness the transformation of the area surrounding The Domain, which continues to morph from an industrial area to a vibrant mixed-use […]

MARLBOROUGH, MA - National multifamily real estate development leader Wood Partners has officially announced the start of construction on Alta French Hill, the company's latest upscale residential community, located in Marlborough, Massachusetts. Pre-leasing opportunities are set to commence in 2024, and the community is scheduled to welcome residents in February 2025. Situated at 303 Lincoln Street and neighboring the Assabet River Rail Trail, Alta French Hill will provide residents with convenient access to Route 20 and I-495, allowing for easy travel throughout all parts of the city and the 495 corridor. The property's prime location will also offer seamless access to a variety of everyday conveniences, such as Hannaford Supermarket, Starbucks, Dunkin Donuts, Walgreens, Planet Fitness, […]

LOS ANGELES, CA - From The Jagger's distinctive sawtooth roofline to its apartment's smart home technology everything about The Jagger is cutting edge. That edge comes with an abundance of comfort, convenience, and community. The new luxury apartments have recently begun leasing with top amenities, a sophisticated design, and an exceptional location on Overland in the Culver City-West Los Angeles area. The hip apartment design features floor to ceiling windows so that light reflects off the polished concrete flooring and the stainless-steel appliances. Residents can choose between a variety of studio and one-bedroom floorplans or choose a luxurious penthouse with soaring 19-foot ceilings and windows over ten feet high. The Jagger boasts a stunning interior atrium, a spacious rooftop […]

REVERE, MA - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway at Modera Revere Beach, a contemporary apartment community located on the oldest public beach in the U.S. Modera Revere Beach, which will feature 357 apartment homes, will offer magnificent 360-degree water views in a relaxed beach setting. Consisting of two residential buildings atop a shared podium, the community is positioned in the greater Boston metropolitan area and within walking distance of the vibrant commercial heart of Revere Beach. First move-ins are anticipated for fall of 2025. "Modera Revere Beach will offer the unique dynamic of a tranquil beach setting not too far removed from […]

RALEIGH, NC - Wood Partners, a national leader in multifamily real estate development, in partnership with PGIM Real Estate, announced the grand opening of their latest residential community, Alta Town Center, located in Raleigh, North Carolina. Located in Northeast Raleigh at 6501 Town Center Drive, Alta Town Center is situated in one of the Triangle s fastest growing areas. With quick access to both I-540 and Capital Boulevard, residents will benefit from excellent connectivity throughout the Triangle. In addition, the community is located within minutes of an abundance of retail options. "We are thrilled to see Alta Town Center come to life as we welcome residents to our new extraordinary property in Raleigh, said Caitlin Shelby, Managing Director for Wood Partners. We are confident […]

ORLANDO, FL - Toll Brothers, the nation s leading builder of luxury homes, through its Toll Brothers Campus Living student housing rental division, and Boston-based real estate investment, development and management firm The Davis Companies, announced a new joint venture to develop Aperture, a 680-bed (204-unit), two-building, five-story multifamily rental community in Orlando, Florida adjacent to the University of Central Florida (UCF). The project is being financed through a $50 million construction loan facility from TD Bank, N.A. The equity and debt were arranged by Toll Brothers in-house Finance Department. Aperture is located at 12727 East Colonial Drive in Orlando on 8.2 acres in proximity to UCF. The community will consist of 204 rental apartments and will feature a […]

SANTA ROSA BEACH, FL - Olympus Property, a leading real estate investment and property management company, announced the successful acquisition of Primrose, located in Santa Rosa Beach, FL. This prestigious residential community is comprised of 288 units in one of the most affluent areas in the Florida Panhandle. Built in 2022, Primrose is a welcome addition to Olympus Property's growing portfolio, further solidifying the company's presence in this highly sought after submarket. Olympus Property brings extensive industry expertise to the table, boasting a current portfolio of more than 31,000 units across 14 states. This acquisition is a testament to the company's proven success, building upon the outstanding performance of Olympus Emerald Coast, a nearby property acquired in June 2021, […]

PHOENIX, AZ - Thompson Thrift, a full-service nationally recognized real estate company, announced the development of Refinery at Pointe17, a 224-unit Class A multifamily community near the $40+ billion Taiwan Semiconductor Plant (TSMC) in northern Phoenix. Construction is set to begin this month and Thompson Thrift plans to welcome new residents starting in the latter half of 2025. "We had a distinct vision for this unique property and are pleased to have the opportunity to collaborate with Thompson Thrift's residential, commercial and construction teams on this mixed-use development," said Josh Purvis, managing partner for Thompson Thrift Residential. "Refinery at Pointe17's balance of style, convenience and amenities will make it a standout addition to the Phoenix metro." Located just […]

TAMPA, FL - 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 Encore, a contemporary mixed-use apartment community in Downtown Tampa. Modera Encore, which will feature 304 apartment homes and 8,000 square feet of ground-floor retail, boasts a dynamic metropolitan location amidst one of the nation's most rapidly emerging downtown corridors. First move-ins are anticipated for spring 2025. "We are fans of the Tampa market, and we believe Modera Encore is positioned to benefit from the city's continued growth and ongoing development of the urban core," said Damon Kolb, senior managing director of development in North Florida for Mill Creek Residential. […]

NORTH PORT, FL - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced the development of The Hadley, a new 268-unit luxury for-rent villa community in North Port, a booming city located on Florida's west coast between Tampa and Fort Meyers. Thompson Thrift plans to begin construction this month and welcome new residents in late 2024. "North Port and the surrounding area added nearly 90,000 jobs during the past 10 years, which has really fueled housing demand," said Josh Purvis, managing partner for Thompson Thrift Residential. "We are excited to bring a new luxury living rental option that will provide a single-family living feel with a full complement of multifamily amenities." Located at 3000 S Sumter […]

PHOENIX, AZ - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, announced that it has broken ground on City North Residential Phase II. "We are excited for our partnership with SofMac Partners and Security Benefit Life Insurance Company on the second phase of the City North project," said Billy Cundiff, Managing Director, Development, Greystar. "City North allows us to deliver a world-class residential development that is adjacent to office space, dining, entertainment and shopping options, which stimulates the local economy and helps Phoenix continue to grow as a desirable destination." City North Residential Phase II will add 348 residences to the 272 that are currently […]

NEW YORK, NY - A joint venture between affiliates of Cantor Fitzgerald, a globally recognized financial services and real estate investment company, and Harbor Group International, a privately owned international real estate investment and management firm announced the acquisition of Avalon Mamaroneck, a 229-unit Class A multifamily community in the Westchester County suburb of Mamaroneck, New York. "Avalon Mamaroneck offers an attractive, well-located housing option situated in the affluent area of Westchester County's Gold Coast," said Yisroel Berg, Chief Investment Officer – Multifamily at HGI. "We are thrilled once again to partner with Cantor Fitzgerald to acquire a high-quality asset." "Mamaroneck has many of the desirable attributes we target when acquiring multifamily […]

RENO, NV - Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground this week on the future site of Pinyon Apartments, a development that will provide 252 units of affordable housing for lower-income families in ;Reno. "Lincoln Avenue Communities is committed to building high-quality, affordable homes in cities like Reno that are experiencing an acute housing crisis," said LAC CEO Jeremy Bronfman. "We're proud to begin construction of our first ground-up development in Nevada and to help bolster the state's affordable housing supply." Construction of Pinyon Apartments is expected to finish in 2025. Upon completion, LAC will restrict 244 units for households earning no more than 60 percent of the area median income (AMI) and 8 units for […]

INDIANAPOLIS, IN - Morgan Properties, one of the nation s top three multifamily owners, announced it has acquired Astoria Park Apartments, a 470-unit apartment community located in Indianapolis, IN. With the addition of this community, Morgan Properties expands its Indianapolis portfolio to over 2,500 units. This strategic addition is a testament to Morgan Properties ongoing commitment to enhancing our portfolio through thoughtful acquisition, said Jonathan Morgan, President of Morgan Properties JV. By investing in newer properties in growing markets, we are not only bolstering our presence but also delivering unparalleled value to our residents. This aligns with our vision to set new standards of excellence through customer service, innovation, operational efficiencies, and capital […]

DENVER, CO - MG Properties, a leading real estate investment and management firm, recently acquired 4400 Syracuse Apartments, a newly built luxury midrise community located in one of Denver's most desirable, dynamic, and growing submarkets. This acquisition underscores MG Properties' commitment to providing top-tier living experiences and expanding its operational presence in the Denver market. This newly constructed 316-unit property offers modern finishes, functional floorplans, and best-in-class amenity spaces designed to enhance the lifestyle of its residents. Situated in the thriving Denver Tech Center/Southeast Business Corridor, 4400 Syracuse Apartments offers residents access to Colorado's largest employment hub which supports over 240,000 jobs. The property is strategically […]