Multifamilybiz-com News

CHARLOTTE, NC - Vista Residential Partners, a national multifamily development firm, has broken ground on 14 acres at 8011 Krefeld Drive Charlotte, NC, for the development of McAlpine Vista, a 320-unit apartment community. Located in the submarket of Matthews, NC, McAlpine Vista will be comprised of 4 and 5 story residential buildings and will have direct and private access to the 6-mile long McAlpine Creek Greenway. McAlpine Vista is conveniently located 15 minutes from Uptown Charlotte and just under 5 miles from the 5.6MM square feet of office space located in Southpark. Additionally, 20 minutes from this site is Ballantyne which boasts an additional 4.5MM square feet of office space. "We are thrilled to start construction on our second project in North Carolina," says Alex Barroso, […]

PITTSBURGH, PA - Greystar, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced the start of construction on Ophelia, its first apartment development in the city of Pittsburgh. "Greystar is excited to make its entry into Pittsburgh in partnership with ECHO Realty," George Hayward, Senior Director of Development at Greystar, said. "Together we are transforming a legacy retail strip center into a unique mixed-use project, signifying the dramatic evolution of the East Liberty and Shadyside neighborhoods. We expect this to be the first of many Greystar development projects in the city." The new apartment community will have 231 apartment homes for rent with 35 units dedicated to the city's affordable […]

LEANDER, TX - Tricon Residential, a Blackstone Real Estate portfolio company, along with its residents, partners and local leaders, celebrated the grand opening of two new built-to-rent communities in Texas: Tricon Bryson in Leander and Tricon Willow Creek in Tomball. Developed in partnership with HHS Residential, a division of Plano-based Highland Homes, these communities will expand housing supply in the Austin and Houston metropolitan areas by adding 303 new, high-quality single-family rental homes. The homes offer thoughtfully designed floor plans featuring three and four bedrooms, attached two-car garages, fully fenced backyards and sought-after community amenities, with the benefit of Tricon s industry-leading on-site maintenance and professional property management. Tricon is […]

COLORADO SPRINGS, CO - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced that it will develop Switch, a 276-unit Class A multifamily community, within Colorado Springs' Polaris Pointe development. The company will begin construction this month with first resident move-ins targeted for fall 2025. "Colorado Springs consistently ranks among the best places to live in the United States, and its economy produces extremely favorable fundamentals that outperform the national averages," said Josh Purvis, managing partner for Thompson Thrift Residential. "We look forward to bringing another distinctive Thompson Thrift community to this vibrant metro area and providing residents with top-notch amenities and […]

ATLANTA, GA - Georgia-Pacific announced initial plans for one of the country's largest mixed-use redevelopments and the intent to transform its iconic 51-story world headquarters and the surrounding city block into a thriving center for innovation and community engagement. The prestigious downtown location will be reimagined into a dynamic mix of residential living, modern office spaces, retail, restaurants and a landscaped central plaza for gathering. This project reaffirms Georgia-Pacific's commitment to the future of Downtown Atlanta and promises to set a new standard for adaptive reuse. The proposed development, scheduled for completion in fall 2027, includes the following: More than 400 apartment units on the tower's uppermost floors, among the highest in the Southeast +/- 125,000 […]

DURHAM, NC - 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 Amavi Brier Creek, a single-family build-to-rent community in eastern Durham County. The community, surrounded by 25 acres of woods, creeks and 28 acres of dedicated open space, features a combined 350 townhomes and single-family detached homes. First move-ins are slated for October. "Amavi Brier Creek will offer a pleasant mix of open green space, proximity to an excelling employment market and a reasonable price point," said Willie Morris, senior vice president of land acquisition for Mill Creek Residential. "The Brier Creek area continues to become one of the hidden gems in the greater Raleigh-Durham […]

WAKE FOREST, NC - Middleburg Communities announced it is slated to break ground this month on Hamlet Quail Crossing, a 260-unit BTR (built-to-rent) community in Wake Forest, North Carolina, part of the Raleigh-Durham MSA. The community will feature 234 detached cottages and 26 duplex units at full build out, and pre-leasing is expected to begin Q3 2025. Hamlet Quail Crossing will be the eighth BTR development that Middleburg has started during the past three years. The Raleigh MSA has attracted significant attention from capital and consumers alike and for good reason, said TJ Sedeski, Managing Director of Investments at Middleburg. The employment and education opportunities, pro-business policy, and work/life balance make it a compelling place to both live and invest and we believe we […]

ESCONDIDO, CA - Greystar, a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, announced that Marlowe Palomar Heights, the company's first Marlowe-branded apartment community in California, is now leasing with move-ins scheduled for fall 2024. Marlowe by Greystar provides suburban luxury living with quality brand new finishes, spacious and current amenities and modern design with easy access to urban conveniences. "We are excited to introduce our latest high-end community to the growing city of Escondido,"Jeff Carlson, Senior Associate, Development, Greystar, said. "Marlowe Palomar Heights offers versatile unique floorplans and premium amenities, filling a gap in the market for new, upscale rental options and […]

LAKEWOOD, CO - S2 Capital, a national vertically integrated multifamily investment manager, announced the acquisition of Dartmouth Woods, a 201-unit, garden-style multifamily apartment community built in 1990 and located in South Lakewood, one of the most attractive submarkets of Denver, CO. Terms of the transaction were not disclosed. Dartmouth Woods is located at 10025 W. Dartmouth Avenue in Lakewood. The property consists of modern two- and three-story buildings in an area of robust demographics with an average household income of $107,000, a median home price of $585,000 and highly-rated schools. S2 plans interior renovations that will include stainless steel appliances, modern lighting, new flooring and updated cabinets along with extensive renovations to the exterior and amenities […]

CHARLOTTE, NC - The Campbell, a 12-story, 117-unit boutique multifamily community in the heart of Charlotte's South End and adjacent to the charming Dilworth neighborhood, announced that it is now pre-leasing units with move-ins starting this month. Abacus Capital developed the project in partnership with JE Dunn Capital Partners and L&B Realty Advisors. Upon delivery, The Campbell will be professionally managed by Greystar. "We're very excited to begin pre-leasing at The Campbell,"Mason Ellerbe, a Partner at Abacus Capital said. "The boutique scale, unimpeded city views, designer finishes and unique and highly walkable location on the Dilworth side of South End will set this project apart from the multifamily stock that has historically been built in the submarket." The Campbell's […]

SUMMERVILLE, SC - Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, along with development partner Nuveen Real Estate announced the opening of Emblem Cane Bay North apartment community in Summerville, S.C. Emblem Cane Bay North is a Joint Venture between Quarterra and Nuveen Real Estate. Emblem communities were created by Quarterra to help address the nationwide shortage of attainable housing available to middle-income renters. The 312-home garden-style community has direct access to the Cane Bay Plantation bike and pedestrian trails, within convenient distance to neighborhood schools, retail centers, dining, employment hubs and prime commuter routes. The SmartRent-compatible community incorporates modern […]

INDIANAPOLIS, IN - Gray Capital announced the acquisition of Solana at the Crossing, a 384-unit class A apartment community built in 2014 and located on the northside of Indianapolis, Indiana. Solana is Gray Capital's eleventh apartment asset in the Indianapolis area. With three full-cycle multifamily investment projects completed in the Indianapolis area that have delivered exceptional returns for investors as well as seven active investments in the city and its surrounding suburbs, Gray Capital's experience and success within its home market is a large part of the success of the company. "Indianapolis is home base for Gray Capital. There is no market we know better or have greater passion for than Indy. For us to be able to acquire a beautiful, well-located property, like Solana, is the […]

MESQUITE, TX -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the City of Mesquite Housing Finance Corporation, announced the financial closing and groundbreaking of The Fielder, a 288-unit affordable housing community in Mesquite, Texas. Units will be reserved for residents earning between 50 to 70 percent of the Area Median Income (AMI). In a city facing a severe workforce housing shortage, this development will provide much-needed affordable housing during a time when more than half of Mesquite renters are cost-burdened," said Nick Walsh, Vice President of Development at The NRP Group. "We are incredibly honored to partner with the City of Mesquite and its Housing Finance Corporation to bring […]

MIDLAND, TX - Investors Capital Group, a multifamily investment firm headquartered in Seattle, Washington announced the acquisition of Wall Street Lofts, a 108-unit mixed use multifamily property located in Midland, TX. It is the second apartment property in ICG Apartment Fund 9 LLC, which will ultimately include approximately four to six assets. The property is a midrise in a prime location, situated in the center of downtown. Amenities include a clubhouse, fitness center, business center, pool, dog run, and BBQ stations. There are two commercial tenants in the property, including a restaurant and a hair salon. Wall Street Lofts is a unique asset, and we are excited to own this class A mid-rise in the heart of Midland, said Mick Halpin, Principal and Managing Member at Investors […]

IRVINE, CA - The Bascom Group has acquired Old River Place, a 249-unit single family residential-style, build to rent multifamily residential property located in the highly desirable Southwest submarket of Bakersfield, California. The purchase price was $56,633,500 or $227,444 per unit. Despite the high-interest rate environment and anemic property sale market, the property marks Bascom's sixth acquisition of 2024 and twenty sixth multifamily acquisition in California's Central Valley. Annette Rice and Jamie Kline of JLL arranged the debt financing for the acquisition with TPG Real Estate Finance Trust as the lender. The seller was represented by The Mogharebi Group's investment sales team led by Mark Bonas. Apartment Management Consultants will provide property management services and […]

SEATTLE, WA - Security Properties purchased SKY Sammamish, a 159-unit multifamily property built in 2018 and located in Sammamish, Washington, for $70,250,000. Security Properties now owns 28 assets and over 6,400 units in the Greater Seattle marketplace. Sammamish, a highly desirable suburb east of Seattle situated between Bellevue, Redmond, and Issaquah, offers an irreplaceable combination of top tier school districts, access to local employers and proximity to some of Washington's most desirable nature. While its population has grown quickly over the past 20 years, the city has historically been, and is forecasted to continue, being one of the most supply insulated submarkets in the entire Seattle metropolitan area. This has caused the barrier to entry to be extremely high, with median […]

LEWISVILLE, TX - Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, the nation s leading builder of luxury homes, and joint venture partner The Davis Companies (Davis), announced the grand opening of Whitlow, a new four-story luxury apartment community in Lewisville, Texas. Financed with a construction loan from Citizens Bank, Whitlow commenced construction in 2021 and welcomed its first residents in February 2024. The community recently celebrated its grand opening with a ribbon cutting ceremony with project partners, as well as current and future residents. We are excited to introduce Whitlow to the charming community of Lewisville, said John McCullough, President of Toll Brothers Apartment Living. Whitlow represents our continued dedication to developing upscale […]

SAN FRANCISCO, CA - Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced it has sponsored the purchase of The Morris, a 19-story, 344-unit Class A apartment community in Nashville, Tennessee. Hamilton Zanze sponsored the transaction through HZ Capital Partners Fund I, its discretionary fund that targets the acquisition of multifamily properties, alongside joint venture partner Lionstone Investments. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the property, which is in the heart of Nashville's historic Music Row and immediately proximate to Vanderbilt University and Vanderbilt Hospital. "We are pleased to sponsor the acquisition of this exceptional multifamily asset," said David Nelson, President and Chief […]

EL CAJON, CA - CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, has announced the acquisition and planned renovation of Lexington Green Apartments, an affordable housing complex in El Cajon, Calif. CPP partnered with co-developer The Hampstead Companies on the deal. This is the second community in El Cajon for CPP, joining Park Villa Apartments. Lexington Green Apartments is located in a primarily residential neighborhood two miles east of downtown El Cajon, which sits 17 miles east of downtown San Diego. Originally built in 1970, the property last underwent a tax credit renovation in 2007, which replaced some, but not all, original building systems. The property consists of 144 units, spread across 12 two-story residential buildings. CPP […]

LOS ANGELES, CA - Affirmed Housing, a leading provider of affordable housing throughout California, announced the completion of The Iris, a new, affordable and supportive housing development serving low-income and formerly unhoused Angelenos in West Los Angeles. A special ceremony was held to commemorate the project s grand opening and attended by Councilmember Traci Park. Building more affordable and permanent supportive housing is a critical priority and core strategy in our comprehensive and citywide effort to confront the homelessness crisis, said Los Angeles Mayor Karen Bass. For the first time in six years, homelessness is down in the city as a result of public-private partnerships and a shared commitment to urgently house Angelenos. This new development continues that momentum. […]