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  • CVS Health Expands Affordable Housing Investment in Colorado with $19.2 Million for Marshall Street Landing in Arvada
    on May 22, 2024 at 9:32 am

    ARVADA, CO - CVS Health announced it has invested $19.2 million through Boston Financial to build 85 new affordable housing units in Arvada, Colorado. Made possible through the company's collaboration with Family Tree and BlueLine Development, the investment demonstrates CVS Health's commitment to improving the health of individuals across the country, which begins with providing access to quality, safe, affordable housing, especially in historically underserved communities. "A critical component to improving an individual's health and well-being is access to quality, safe, affordable housing," said Frank J. Benedetto, Regional Director, Sales and Account Management at Aetna, a CVS Health company. "Through the development of Marshall Street Landing, unhoused residents will have […]

  • Gray Capital Completes Indiana Acquisition of 444-Unit Regency Club Apartment Community in Evansville Metropolitan Market
    on May 21, 2024 at 9:41 am

    INDIANAPOLIS, IN - Gray Capital announced the acquisition of Regency Club Apartments, a 444-unit class B apartment community located in Evansville, IN. The property was built in two stages in the 1980s with additional townhomes built in 2006. Gray Capital's strategy with the property involves an immediate rebrand as River Club Apartments, with over $3 Million in exterior improvements and interior renovations to enhance the property and create an exceptional, elevated living experience that will continue to attract residents. Additionally, River Club will be managed by Gray Capital's property management company, Gray Residential, with an experienced team ready to execute Gray Capital's strategy for the asset on day one. "This property was the 'lifestyle' apartment community—the place to […]

  • Mill Creek Breaks Ground on 270-Unit Modera South Shore Marshfield Garden-Style Apartment Community in Seaside-Town Locale
    on May 20, 2024 at 11:01 am

    MARSHFIELD, MA - 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 South Shore Marshfield, a contemporary garden-style community boasting a charming seaside-town locale. The community, which will feature 270 apartment homes, is located approximately midway between Boston and Cape Cod and within a quick commute of Marshfield's various beaches. First move-ins are anticipated for fall 2025. "Marshfield features a prime coastal locale but a small inventory of Class A living options," said Doug Arsham, senior managing director of development in Boston for Mill Creek Residential. "We're eager to help address that demand and offer a product largely unique to the […]

  • Lincoln Avenue Communities Breaks Ground on 300-Unit 52 at Park Affordable Housing Community in Fast Growing Orlando Market
    on May 17, 2024 at 10:42 am

    ORLANDO, FL - Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the future site of 52 at Park during a ceremony with LAC leaders, local lawmakers and partners. 52 at Park will provide 300 affordable housing units to individuals and families in Orange County earning no more than 60% of the Area Median Income. "Lincoln Avenue Communities is proud to grow our portfolio of affordable housing developments in Florida," said Jordan Richter, LAC vice president and regional project partner. "Once completed, 52 at Park will provide hundreds of high-quality, affordable homes in one of the state's fastest-growing metropolitan areas." The property will include eight residential buildings, with all units expected to be completed by the end […]

  • Oak Row Equities Breaks Ground on 2600 Biscayne Boulevard Luxury Mixed-Use Tower in Miami’s Desirable Edgewater Submarket
    on May 16, 2024 at 10:12 am

    MIAMI, FL - Oak Row Equities, a vertically-integrated private equity and real estate development company with over $1.6 Billion of development in South Florida, announced the official groundbreaking of 2600 Biscayne Boulevard, a transformative Class AAA multifamily and office tower in the rapidly-maturing Edgewater neighborhood of Miami. Coastal Construction Group, one of the largest general contractors in the Southeast, is the general contractor. Globally-renowned architecture firm Arquitectonica is responsible for the design of the luxurious 41-story building, which will be home to an original public art piece by acclaimed artist Derrick Adams. Vida, a Portland-based full service interior design and interior architecture firm, is designing the interiors. The commencement of construction […]

  • Rise48 Equity Celebrates Milestone with Acquisition of 288-Unit Mosaic Apartment Community in Dallas-Fort Worth Submarket
    on May 15, 2024 at 11:05 am

    HALTOM, TX - Rise48 Equity, a leading multifamily investment group, announced the acquisition of Mosaic Apartments in the DFW area of Texas. This 288-unit complex marks a significant milestone as the company's 50th acquisition since 2019 and its 10th in the Dallas MSA, further expanding their strong presence in Texas. Rise48 Equity has plans to revitalize Mosaic Apartments, soon to be rebranded Rise Fossil Creek, with an investment of over $7 million. Property renovations include: Platinum-level interior upgrades: New shaker doors, quartz countertops, plumbing fixtures, stainless steel appliances, vinyl flooring, and updated lighting. Transformative exterior: Fresh 3-tone paint, pool area improvements, leasing office & clubhouse upgrades, landscaping enhancements, a new LED-backlit […]

  • JBG Smith Achieves Goal to Preserve 3,000 Workforce Housing Units with Washington Housing Initiative Impact Pool Investment
    on May 14, 2024 at 10:46 am

    BETHESDA, MD - JBG SMITH announced that the Impact Pool, the affordable housing investment platform it manages, has helped create and preserve more than 3,000 units of quality workforce housing across the Washington region since 2020, outpacing its goal to deliver 3,000 units by 2025 and with capital remaining to invest in additional units. The Impact Pool has surpassed what we set out to achieve – the creation and preservation of affordable homes for thousands of workers in communities throughout the Washington region, and we are proud to have reached our goal ahead of schedule and with additional funds to continue our efforts, said AJ Jackson, EVP of Social Impact Investing at JBG SMITH. This is a moment of celebration and provides impetus to keep going. Investing at scale allows […]

  • Greystar Launches Its First Factory Created Modular Community with Ltd. Findlay Luxury Apartments in Coraopolis, Pennsylvania
    on May 13, 2024 at 11:47 am

    CORAOPOLIS, PA - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced its third Ltd.-branded apartment community, Ltd. Findlay, is now preleasing. Located in Coraopolis, PA, Ltd. Findlay is the first property comprised entirely of apartments created in the Modern Living Solutions ("MLS") factory – Greystar's modular construction business focused on building off-site, prefabricated modular apartments sustainably and at an attainable price point under Greystar's dedicated impact housing brand, Ltd. by Greystar. "Ltd. Findlay is a significant milestone for Greystar and Modern Living Solutions," Andy Mest, Managing Director of Development, Modern Living Solutions at […]

  • Thompson Thrift to Develop 276-Unit Verify Luxury Apartment Community in Florida's Space Coast Community of Vero Beach
    on May 10, 2024 at 10:36 am

    VERO BEACH, FL - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced the development of Verity, a 276-unit Class A multifamily community in Vero Beach. The company intends to begin construction this month, with completion expected in summer 2026. "Despite significant demand for housing options in the Vero Beach community, supply has not kept pace in recent years," said Josh Purvis, managing partner for Thompson Thrift Residential. "We are pleased to be able to move forward with providing a highly desired rental living option that fits the community's needs." Located off 37th Street on 11th Circle, Verity will span more than 18 acres and consist of three-story buildings offering one-, two- and […]

  • Vista Residential Partners Receives Approval for Development of 221-Unit Gardens Vista Apartment Community in Palm Beach Gardens
    on May 9, 2024 at 9:11 am

    PALM BEACH GARDENS, FL - Vista Residential Partners, a national multifamily development firm headquartered in Atlanta, GA received City of Palm Beach Gardens, Fla., approval for luxury 221-unit multifamily development, to be known as Gardens Vista Apartments. Located at the intersection of Central and Victoria Falls Boulevards, Gardens Vista will sit on 16 acres of the more than 50-acre tract of land known as Cimarron Cove. The community is in the heart of Palm Beach Gardens and lies within 0.5 miles of I-95, and less than 1.5 miles from PGA Blvd and Gardens Mall. The Mediterranean-style complex will include 131 one-bedroom, 72 two-bedroom, and 18 three-bedroom apartments. Community amenities feature two pickleball courts, resort style swimming pool, more than one acre of walking trails, […]

  • FCP Completes The Acquisition of 322-Unit Hickory Lake Apartment Community in High-Growth Nashville Submarket of Antioch
    on May 8, 2024 at 10:51 am

    ANTIOCH, TN - FCP announced the acquisition of Hickory Lake Apartments, a 322-unit multifamily property at 3940 Apache Trail in Antioch, TN in the Nashville MSA. The acquisition of Hickory Lake marks FCP's 6th transaction in the Nashville market, and the first since 2022. FCP assumed a HUD loan as part of the transaction, but further terms were not disclosed. "The acquisition of Hickory Lake Apartments provides FCP with an affordable community in a location proximate to Nashville's largest employment centers," said FCP's Scott Reibstein. "We are excited to be back in the rapidly growing Nashville market. FCP is thrilled to acquire Hickory Lake, a community that supports our commitment to the preservation of affordable and workforce housing. As Nashville continues to grow, properties like […]

  • MedCore Expands Its Footprint into Michigan Market with Acquisition of Two Senior Living Communities in Detroit Metropolitan Area
    on May 7, 2024 at 11:57 am

    DETROIT, MI - MedCore Partners in partnership with REDICO/American House has completed the acquisition of two (2) senior living communities located in Troy and Rochester Hills, Michigan (Detroit MSA). The communities will be operated by American House under the brands American House Somerset and American House Hampton Village, respectively. "MedCore is excited to partner with American House and to expand its existing senior living portfolio to now include Michigan" said Brian Bollich, one of MedCore's four founding partners. "This purchase highlights our investment program of purchasing value-add opportunities with significant location upside, strong cash flow, and operational improvements. The acquisition team hopes to leverage each asset's central location to healthcare options, as well […]

  • Toll Brothers Apartment Living Tops Out 422-Unit The Lindley Mixed-Use Luxury Multifamily Community in California Market of San Diego
    on May 6, 2024 at 11:11 am

    SAN DIEGO, CA - Toll Brothers Apartment Living, the rental division of Toll Brothers (NYSE: TOL), the nation's leading builder of luxury homes, in partnership with PGIM Real Estate and general contractor Swinerton, announced the topping out of The Lindley. Located at 1331 Columbia Street in San Diego, California, this new community will feature 422 apartment and penthouse residences, upscale amenities, unrivaled rooftop views, and over 12,000 square feet of retail space. Totaling over 800,000 square feet, The Lindley will be one of the largest multifamily communities ever developed by Toll Brothers. A topping out event was recently held at The Lindley to celebrate this construction milestone and was attended by over 300 guests, including development partners, local officials, and the […]

  • Gilbane Development Company Opens 451-Unit Atworth Transit-Oriented Affordable Apartment Community in College Park, Maryland
    on May 3, 2024 at 9:08 am

    COLLEGE PARK, MD - Gilbane Development Company, Amazon, Metro, City and County officials, partners, residents, and members of the community gathered to celebrate the Grand Opening of Atworth, a transit-oriented, mixed-use affordable apartment community in College Park, MD. The project is reserved for tenants with incomes at or below 80 percent of area median income ("AMI"), and the units will maintain affordability for the duration of the 98-year ground lease. Local officials and project stakeholders welcomed the residents to their new community and spoke on the positive impacts and opportunities Atworth has created for the College Park community. Attendees of the event enjoyed guided tours of the property, providing them with an up-close look at the sleek and sustainable design features […]

  • Ascendant Capital Partners and Culver Investment Partners Acquire Multifamily Portfolio in Medical Center Neighborhood
    on May 2, 2024 at 10:38 am

    HOUSTON, TX - Ascendant Capital Partners, a vertically integrated real estate investment and operating platform, and Culver Investment Partners, a multifamily investment platform focused on existing core-plus and value-add multifamily communities, announced the acquisition of the Elle Collection portfolio in the Texas Medical Center area, a populous and growing submarket of Houston, TX, for approximately $60 million. The acquisition marks Ascendant and CIP s first deal together and the first investment for CIP s new platform. The Elle Collection comprises three multifamily assets – Elle at the Medical Center, Vie at the Medical Center, and Plaza Townhomes at the Medical Center – totaling 470 units. This strategic acquisition aligns with Ascendant and CIP's investment focus on […]

  • Clearwater Living Expands into Texas with Acquisition of 220-Unit Assisted Living and Memory Support Community in Houston
    on May 1, 2024 at 9:41 am

    HOUSTON, TX - Clearwater Living, a real estate and property management company dedicated to the ownership, operation and development of high-quality senior living communities, announced the acquisition of The Watermark at Houston Heights, a 220-unit, luxury assisted living and memory support community in Houston. Clearwater Living has rebranded the community as Clearwater at The Heights. "We are very pleased to add Clearwater at The Heights to our portfolio of Class A senior living communities," said Danielle Morgan, Clearwater Living's president and COO. "Each of our communities epitomizes our steadfast commitment to offering residents the essential emotional, physical and social experiences that allow them to thrive. We are excited to expand into Texas and bring Clearwater's passion for […]

  • Mavrek Development and Partners Open 248-Unit The Saint Grand Luxury Apartments in Chicago's Streeterville Neighborhood
    on May 1, 2024 at 9:34 am

    CHICAGO, IL - The Saint Grand, a co-development and joint venture between Mavrek Development, Double Eagle Development, Luxury Living, and GW Properties, began welcoming its first residents. The mixed-use development is located in the heart of Chicago's Streeterville neighborhood. The Saint Grand includes 248 Class A luxury apartments at 218 E. Grand Ave, 45,000 square feet of offices at 535 N. St Clair, and 8,000 square feet of street-level retail at the corner of Grand Avenue and N. St. Clair. "The Saint Grand's apartments fuse vibrant Chicago living into sophisticated design, seamlessly integrated with the thriving Streeterville community," said Aaron Galvin, Founder of Luxury Living. "After the first few weeks of leasing, we are thrilled by the initial traction." The Saint Grand's […]

  • Cityview Completes Construction of 378-Unit Prime Bay Area Waterfront Apartment Community in Oakland’s Brooklyn Basin
    on April 30, 2024 at 10:55 am

    OAKLAND, CA - Cityview, a premier multifamily investment management and development firm, has completed Portico, a 378-unit multifamily project in Oakland, California. Now welcoming residents, the eight-story opportunity zone project is located in the fast-growing Brooklyn Basin master-planned community. An ideal mix of urban energy and natural serenity, Portico combines access to city living with a serene waterfront setting. The project features a mix of studio, one-, two- and three-bedroom apartments as well as townhomes. More than 80% of the units overlook the water with stunning bay views. Portico provides 378 units of waterfront housing in one of the fastest growing and most vibrant areas of Oakland, said Sean Burton, CEO of Cityview. Cityview was able to leverage our extensive […]

  • West Shore Surpasses 15,000 Units Owned and Operated with Acquisition of Preserve at Essex Farms in Charleston, South Carolina
    on April 29, 2024 at 11:54 am

    CHARLESTON, SC - West Shore, a fully integrated real estate investment firm with a specific focus on the acquisition and management of multifamily assets, announced its acquisition of The Preserve at Essex Farms in Charleston, South Carolina. The purchase marks a major milestone for the fast-growing company, as it now owns and operates more than 15,000 units across the southeastern and southwestern United States since its founding less than eight years ago. This is West Shore s ninth purchase in the Palmetto State, increasing its total units under ownership and operation in South Carolina to nearly 2,500. The Preserve at Essex Farms is conveniently located in the West Ashley neighborhood of Charleston, an established and growing area that provides access to both employment and lifestyle […]

  • Quarterra Multifamily Announces The Start of Leasing at 264-Unit Emblem Conyers Apartment Community in Atlanta Submarket of Conyers
    on April 26, 2024 at 10:22 am

    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 […]

For information on the various roles of real estate brokers, please download a copy of the brochure entitled “Working with Real Estate Agents”. If you are a potential Buyer or Seller and this is the first contact with our firm, we are required by the North Carolina Real Estate Commission to review this brochure with you at the first opportunity and answer any questions you may have. Please contact Richard Cotton at 910-431-7986 or by email at rcotton@mra-apartments.com for more information.