Multifamilybiz-com News

CLARKSVILLE, TN - Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced it has sponsored the purchase of Reserve at Kirkwood, a 264-home garden-style apartment community in Clarksville, Tennessee. The acquisition closed on Dec. 18. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the property, which is situated approximately 45 miles northwest of Nashville along the Interstate 24 corridor. "We are thrilled to announce the sponsored acquisition of our second property in the Clarksville metro area," said David Nelson, President and Chief Investment Officer at Hamilton Zanze. "With significant investments from LG Chem, Amazon and Hankook Tire in the metro area, coupled with the area's strong projected population […]

SEATTLE, WA - A partnership between Security Properties and an affiliate of Rockwood Capital closed on the acquisition of NV Apartments, a 284-unit multifamily property built in 2016 and located in Portland, Oregon, the two firms announced. The property is located within Portland's highly desirable North Pearl District. Situated along one of the city's most dynamic corridors on 13th Avenue, NV benefits from its location near a vast range of retail, dining, and recreational options all within walking distance. Among other notable amenities, the property is just three blocks from a Safeway grocery store and one block from Fields Park, with 3.2 acres of serene open space, a jogging path, and an off-leash dog park. The residential floorplans are comprised of one and two-bedroom units across a […]

MIRAMAR, FL - FCP announced the acquisition of Alexan Miramar Apartments, a newly constructed 250-unit multifamily community located at 3155 SW 147th Terrace in Miramar, FL, part of the thriving Broward County market. "Alexan Miramar is a strategic addition to FCP's growing Florida portfolio," said Bruce Gago, Senior Vice President at FCP and head of the company's Florida investments. "In a challenging macro environment, FCP continues to identify and execute on opportunities that align with our commitment to delivering high-quality housing in prime locations. This acquisition underscores our confidence in South Florida's long-term growth prospects and the demand for market-rate housing near key employment and retail hubs." The Alexan Miramar community offers residents thoughtfully […]

NEW YORK, NY - Multifamily housing operators have faced a series of challenges in recent years, from rising interest and insurance rates to a wave of new regulations and scrutiny over their use of revenue management software to set rents. Amidst the turbulence of navigating these complexities, a new wave of litigation has emerged in an entirely different area, one that now threatens to ripple through the multifamily industry. It has been over five years since the National Apartment Association first sounded the alarm on what it termed Surf-By Lawsuits —a digital twist on the well-known Drive-By Lawsuits. The latter refers to legal actions under the Americans with Disabilities Act (ADA) against businesses lacking compliant physical accommodations. In contrast, Surf-By Lawsuits target […]

FORT WORTH, TX - Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the apartment community Verandas at Cityview in Fort Worth, Texas. This successful close marks the fourth acquisition in Knightvest's Fund II and its first asset in the Fort Worth market. Built in 2002, the 314-unit garden style community is located in the thriving Benbrook submarket of South Fort Worth, an area where Knightvest has extensive experience. Knightvest has successfully upgraded and operated three other properties within a two-mile radius and plans to leverage this experience to seamlessly integrate Verandas at Cityview into its portfolio. Knightvest will fully renovate the majority of the units, upgrading them with modern finishes that are comparable to newer […]

FALLS CHURCH, VA - NexCore Group, a privately-owned diversified healthcare real estate development, investment, and management company with a national footprint spanning 29 states, and its vertically-integrated senior housing operator, Experience Senior Living (ESL), proudly announce the start of construction of The Reserve at Falls Church, located in the West Falls neighborhood. The new 15-story community features 215 elegantly appointed homes, including a one-of-a-kind penthouse level. This community is the eighteenth senior living development for NexCore and ESL and the second development in The Reserve Collection, the company's luxury line of senior communities. "Breaking ground on The Reserve at Falls Church reflects NexCore's steadfast belief in the future of senior living. As […]

CHARLOTTE, NC - Thompson Thrift, a full-service nationally recognized real estate company, announced the sale of Taylor Farms, a 276-unit, Class A multifamily community 20 minutes from Uptown Charlotte. The Northmarq team led by John Currin, Andrea Howard, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson brokered the sale to Atlanta-based Mesa Capital Partners. "Taylor Farms was our first multifamily community in the Carolinas and we were fortunate to capitalize on its prime location to bring a high-quality community to one of the nation's hottest rental submarkets," said Josh Purvis, managing partner for Thompson Thrift Residential. John Currin, senior vice president, Northmarq, continued, "Taylor Farms was one of Charlotte's most competitive 2024 marketing campaigns due to […]

RICHMOND, VA - 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 topping out of Chasen, a 352-unit, multifamily community development in Richmond, Virginia's Scott's Addition qualified opportunity zone. The development, funded by equity raised by CSRA Opportunity Zone Fund VII, LLC, broke ground in April 2023 and is the fifth opportunity zone development the company has topped out in Scott's Addition during the past four years. "Capital Square would like to thank the many investors and financial advisors across the nation who had the foresight to invest in Capital Square's fifth opportunity zone fund in Scott's Addition," said Louis Rogers, founder and co-chief executive […]

BRUNSWICK, GA - Material Capital Partners, a real estate development and investment management firm based in Charleston, SC, announced it has closed the project financing for River Ford, a 170-unit rental home community in Brunswick, Georgia. River Ford is located on 28 acres at Canal Road, approximately 15 minutes from downtown Brunswick and St. Simons Island. The new development will consist of 170 detached single-family homes and a host of amenities including a clubhouse with fitness center, co-working space and a resort-style pool, two large central lakes with a fishing dock, large bark park, playgrounds, extensive trail system and a network of pocket parks and green spaces. Site work started earlier in the year and vertical construction is expected to begin in February 2025. […]

FAIRFAX, VA - Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the Residences at Government Center II during a ceremony with LAC leaders, local lawmakers and partners, including Virginia Housing, the Virginia Department of Housing and Community Development, the Fairfax County Redevelopment and Housing Authority (FCRHA) and Capital One. The Residences at Government Center II will provide 279 high-quality, affordable homes for families in the Braddock District. Upon completion, this community will also feature a daycare center, providing a safe and convenient childcare option for residents. U.S. Representative Gerry Connolly, who represents Virginia's 11th District in Congress, spoke at the groundbreaking ceremony. Other […]

PORTLAND, OR - Security Properties announced the opening of Splash Apartments, a 219-unit multi-family residential community in Portland's Kerns neighborhood. The property welcomed its first residents on Oct. 25, 2024, shortly after Time Out recognized Kerns as "America's Coolest Neighborhood." Splash marks the first phase of the Pop Blocks, a master-planned development at the historic site of the former Pepsi Distribution Center. Situated at 875 NE 27th Ave. along Sandy Boulevard, the community is just steps from some of Portland' most beloved restaurants, breweries, parks, and shops – making it an ideal choice for connected urban living. "We're thrilled to be bringing this exciting community to the Kern's neighborhood after years of planning and construction," said Sarah Zahn, Senior […]

NORTH SAINT PAUL, MN - The North St. Paul community celebrated the grand opening of the highly anticipated Article No. 7 apartment building, a new residential development that promises to transform the housing landscape in North Saint Paul. Developed by Tareen Development Partners, the building marks a significant milestone in the city's ongoing efforts to promote high-quality housing options for residents. The grand opening event attracted local officials, community members, builders, architects, designers, and stakeholders, all eager to witness the unveiling of this state-of-the-art apartment complex. Mayor John Monge and City Council members expressed their enthusiasm and support for the project, highlighting its potential to enhance the community's vibrancy and livability. "Article […]

PHOENIX, AZ - National multifamily developer Wood Partners has expanded its footprint in Phoenix with the opening of two new properties, Alta Avondale and Alta Rise. These multifamily developments will bring more than 630 units to the fifth-largest metro in the country. "The Phoenix metro's rapid growth presents a unique opportunity for Wood Partners to play an active role in supporting the city's expansion," said Todd Taylor, Managing Director at Wood Partners. "We're committed to delivering thoughtfully designed, amenity-rich properties that enhance the quality of life for our residents and contribute to the continued success of the greater Phoenix community." Alta Avondale is a 360-unit project on 14 acres of land located in The BLVD in Avondale, a vibrant mixed-use destination […]

NEW YORK, NY - Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of a 22-property portfolio comprising 4,768 units across the western United States. With this acquisition, the properties transition to HVPG ownership, seeking to ensure residents benefit from the high standards of living and affordability displayed across the firm's entire portfolio. The portfolio acquired includes properties in four western states thirteen in Washington, seven in Colorado, one in California and one in Idaho - concentrated significantly in the Denver, Seattle, and Spokane metro areas. The properties are subject to low-income housing tax credit (LIHTC) rent restrictions and tenants must be income qualified earning no more than 60% of […]

ROXBURY, MA - The NHP Foundation celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF's commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units. The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930. "NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood," said Mecky Adnani, lead developer for […]

DALLAS, TX - Leading multifamily developer Wood Partners announced the grand opening of Alta Park Central, a 297-unit, five-story multifamily community in North Dallas. The amenity-rich community is located near Medical City Dallas Hospital and the 17-mile White Rock Creek Trail. "Location and accessibility are key factors potential residents are considering when choosing their homes," said Matt Miller, Vice President of Development at Wood Partners. "The nearby Medical Center Dallas Hospital employs nearly 3,000 employees and the Dallas CBD, Dallas North Tollway, and Cityline employment hubs are just minutes away. With its trail connectivity and access to plenty of restaurants and retailers also a short distance away, Alta Park Central is an ideal living option for healthcare […]

KNOXVILLE, TN - 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 topping out of Livano Knoxville, a 348-unit, Class A multifamily community development located within a qualified opportunity zone in Knoxville, Tennessee. The project, which is being developed in partnership with LIV Development, broke ground in June 2023 with first move-ins anticipated in spring 2025. "Livano Knoxville is Capital Square's eighth opportunity zone fund. By investing in the fund, investors are able to defer and exclude their capital gains from the sale of any asset," said Louis Rogers, founder and co-chief executive officer of Capital Square. "By creating jobs and tax revenue, Livano […]

PEARLAND, TX - Venterra Realty recently acquired The Townhomes at Lake Park community located in Pearland, Texas. The 247-unit garden-style multi-family community is well located in Pearland, Texas, a suburb of South Houston. Venterra has a long track record in Pearland, having managed St. Andrews Apartments dating back to 2012. This city is also the site of its current development project, The Delta Pearland, which will open in early 2025. Pearland is an affluent area located approximately 10 miles south of the Texas Medical Center and is known for having an excellent school district. The property consists of multi-level townhome-style apartment homes, all with ground-floor access and most with attached garages. All apartment homes feature modern finishes including stainless steel […]

NEWTON, MA - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has acquired Modera Newton, a contemporary midrise apartment community located along the Charles River approximately nine miles west of Downtown Boston. The community, formerly known as Allée on the Charles, features 205 apartment homes and was originally built in 2023, with a second building delivered in 2024. The community boasts a charming setting featuring immediate access to the Charles River Greenway and picturesque Forte Park. The commuter-friendly location is positioned less than seven miles west of Cambridge and offers direct connectivity to Boston via Interstate 90 (Massachusetts Turnpike). "Newton is a great suburb […]

AUSTIN, TX - Canyon Partners Real Estate announced that is has provided a preferred equity investment in a joint venture with Gilbane Development Company for the development of Aer, a 375-unit Class A multifamily project located in the South Lamar submarket of Austin, Texas. The project is located approximately three miles south of downtown Austin along South Lamar Boulevard, an established corridor offering direct access to a variety of retail and restaurant amenities as well as nearby parks and hiking trails. The project is also conveniently positioned near major highways, including east-west Highway 71, north-south MoPac Expressway, and Interstate 35, allowing for seamless connectivity throughout the city and surrounding suburbs. "Aer represents a unique development opportunity in […]