AUSTIN, TX – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with PointOne Holdings and the Travis County Facilities Corporation (TCFC), announced the groundbreaking of a 328-unit mixed-income multifamily development in Austin, Texas. Half of the units will be reserved for residents earning between 60 to 80 percent of the Area Median Income (AMI).
This development is a testament to our commitment to create inclusive housing communities where residents of all income levels can thrive, said Max Whipple, Vice President of Development at The NRP Group. As we celebrate our 30th anniversary and the delivery of our 30,000th housing unit in Texas, East Austin s Ross Road development will provide the local workforce with the opportunity to affordably live in the vibrant community where they work.
Ross Road meets the neighborhood s growing demand for quality, accessible housing for essential workers, young professionals and growing families. It features an assortment of one-, and two-bedroom apartments with high-end finishes. With close proximity to Highway 71 and the 130 tollway, Ross Road provides quick access to employment hubs in East Austin and a 20-minute drive to the city s downtown.
We are thrilled to partner with The NRP Group on this project to provide much-needed housing in East Austin, said Ben Colonomos, Principal of PointOne Holdings. This development will significantly enhance the rapidly expanding neighborhood, providing residents with a best-in-market living experience and a wide range of community-focused and thoughtfully designed amenities.
Designed by architecture firm Lord Aeck Sargent, Ross Road is a 4-story development with a unique covered parking structure to maximize outdoor space. Half of the 16.5-acre site will be dedicated to greenspace and outdoor amenities, including a primary courtyard with a resort-style pool, cabanas and outdoor games like ping pong and corn hole. Additionally, there are two landscaped courtyards and a dog park overlooking the greenbelt to the East.
For remote workers and students, the development offers coworking spaces with multiple meeting and conference rooms. The community also includes a double-height lobby and state-of-the-art fitness center, and a community chef s kitchen for social gatherings.
This development aligns perfectly with our mission to support the development of high-quality housing in Travis County, said Patrick Howard, Executive Director of TCFC. We are proud to be part of an initiative that delivers accessible housing to the region s growing workforce.
Austin remains a priority market for The NRP Group. Two recently delivered mixed-income communities in the area include The Markson, with 330 units, and Station42 with 368 units.
Construction of Ross Road is already underway. The community is expected to deliver in 2026.

DALLAS, TX – Waterford Property Company, in a joint venture with The Vistria Group, announced the acquisition of a 299-unit garden style class A multifamily community located at 2400 Fort Worth Avenue in Dallas.
The joint venture purchased the property, called Axis Kessler Park, in partnership with the City of Dallas Housing Finance Corporation (“DHFC”), for $67 million from the undisclosed seller. With this acquisition, the owners will immediately restrict rents for new qualified residents, converting the property into essential workforce housing.
“We are thrilled to partner with the City of Dallas and Waterford on another housing community,” said Michael Shaid, Vice President of Real Estate at The Vistria Group. “It is core to our investing and impact philosophy to create more affordable housing, building more resilient households and vibrant communities. Axis Kessler Parkwill add high quality affordable options for those who live, work, and play in Dallas.”
The property will provide a much-needed mixed income housing solution for the community. A majority of the units will be converted to essential housing for residents who make 60 to 140 percent of the Area Median Income (“AMI”). Ten percent of the units will be dedicated to residents who make 60 percent of AMI, 41 percent of the units will be dedicated to 80 percent AMI, 39 percent of the units will be dedicated to 140 percent AMI and the balance of units will remain at market rent.
“This is Waterford’s second multifamily acquisition in Dallas. Through this acquisition, Waterford is continuing its mission to pursue innovative essential housing solutions for the region,” said Sean Rawson, Co-Founder of Waterford.
Axis Kessler Park consists of large one-, two- and three-bedroom units. The property offers amenities that include a clubhouse, fitness center, business center, dog park, private garages, resort-style pool, and storage units. The community is located within the suburban neighborhood of Kessler in Dallas, strategically positioned between the thriving Bishop Arts District and Trinity Groves. These districts boast a vibrant urban community offering convenient access to retail outlets, dining establishments, and recreational facilities.
“With rents in Dallas up almost over 20% since the pandemic began, it’s more important than ever to figure out ways to help create more affordable housing for essential workers in the area. We are proud of our public private partnership with the DHFC in creating this increasingly needed housing option,” said John Drachman, Co-Founder of Waterford.
The property primarily houses middle-income workers with the Dallas Independent School District as the top employer of property residents. Occupations for tenants at the property include healthcare and medical workers, education training and librarians, and management.
Earlier this year, Waterford, The Vistria Group, and Northern Liberties, in partnership with DHFC, acquired Domain at Midtown Park, a 395-unit class A multifamily community located at 8169 Midtown Boulevard in Dallas to convert to essential housing.
Debt for the acquisition was handled by Freddie Mac through Walker & Dunlop. John Makus of CBRE represented the seller. Greystar will be the onsite property management team.

CHARLESTON, SC – A joint venture between Blaze Capital Partners and Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, announced the acquisition of The Aspens Verdae, a 159-unit active adult community located in Greenville, South Carolina.
“The acquisition of The Aspens Verdae represents our commitment to both growing our active adult portfolio and deepening our strategic presence in the Greenville market,” said Chris Riley, co­founder and managing partner of Blaze. “The 55+ housing segment stands to benefit from exceptional fundamentals as Baby Boomers continue to seek more attractive forms of housing that offer a compelling alternative to traditional homeownership.”
The Aspens Verdae is a luxury active adult community built in 2022 within the Verdae Master Plan, conveniently located just fifteen minutes from downtown Greenville and providing residents with access to a wide array of activities, restaurants, and shopping. The property is adjacent to the Preserve at Verdae Golf Club and a short distance from Swamp Rabbit Trail, a 28-mile multi-use greenway that follows the Reedy River.
The Aspens Verdae provides residents with comprehensive programming ranging from fitness classes to group activities, as well as a variety of social events and gatherings. The property offers several leading amenities, including an outdoor heated pool, fitness center and yoga studio, art room, movie theater, and resident lounges. Units span a variety of one- and two-bedroom floorplans and feature luxury vinyl plank flooring, granite countertops, stainless steel appliances, walk-in showers, and full size washers and dryers.
“Our acquisition activity has increased over recent months as we have begun to find more compelling investment opportunities that align well with our focus of generating attractive returns to our investors by delivering exceptional living experiences to our residents,” added Eddy O’Brien, co-founder and managing partner of Blaze. “We have been and will continue to be one of the most active buyers in the active adult segment building off our experience and long-history in the space.”
“Greenville’s strong demographics and notable supply constraints align with our thematic investing approach around differentiated opportunities for accessing demographic shifts occurring in the U.S.,” said Eric Shepsman, Managing Director, Real Estate Americas, at Partners Group. “Blaze’s expertise in the active adult space and investment approach aligns with our view on driving additional value through transformational business plans. Blaze has been an excellent partner to work with and we look forward to executing our business plan.”

SAN DIEGO, CA – Virtú Investments, a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States, announced it has acquired ALX, a 313-unit multifamily property in San Diego, CA.
Virtú sees San Diego as an ideal location for investment based on the city s limited housing supply and current property valuations that have fallen to a low point from their 2021 peak. The acquisition of ALX further strengthens Virtú s position in Southern California. The San Diego market is expected to see strong rent growth over the next decade, driven by both growing demand and supply constraints, as rising construction costs greatly reduce the economic viability of new multifamily developments.
The San Diego market is a great example of what we look for when considering new properties – a popular city with low apartment supply, increasing renter demand, and valuations well below their peak, said Michael Green, CEO and Founding Partner of Virtú Investments. The acquisition of ALX perfectly aligns with this focus, and we look forward to building on this strategy through similar transactions in the near future.
Located in the heart of San Diego s Ballpark District neighborhood, ALX provides residents with easy, walkable access to the most vibrant areas of the city. The luxury highrise offers a range of amenities including a rooftop saltwater zero-edge pool and spa, a state-of-the-art fitness center, and game room.
Virtú acquired ALX primarily through the Virtú Evergreen Fund, an open-end fund launched in 2015 for generational ownership, long-term compounding, extreme tax efficiency and flexible liquidity. The Fund, which recently announced its reopening to new commitments, is designed to take advantage of 1031 Exchanges within the Fund to perpetually defer taxes on gains and cashflow. The Evergreen Fund is a key strategy within the Virtú platform, which has owned and operated 23,000 apartments across 33 markets and realized a Net IRR of 19.4% over 26 years.

LOS ANGELES, CA – Cityview, a premier multifamily investment management and development firm, and Wafra, a global alternative investment manager, have acquired Silva, a newly constructed 221-unit, Class A multifamily community in the Silver Lake neighborhood of Northeast Los Angeles. Situated on a hilltop that provides 360-degree views of the city, Silva is the first institutional grade multifamily asset of its size delivered in the Silver Lake/Echo Park neighborhoods.
Silva is currently unleased and recently achieved Temporary Certificate of Occupancy. Cityview and Wafra will lease up the community as construction is finalized and Certificate of Occupancy is obtained.
Silva is a rare opportunity to acquire a newly constructed Class A property in one of Los Angeles most desired and centrally located submarkets, said Sean Burton, CEO of Cityview. Cityview has delivered and leased up three other development projects near the area over the past year, giving us deep market knowledge and experienced onsite teams that ideally position us to lease up and manage the community alongside Wafra, a trusted partner of Cityview.
Silva represents a unique opportunity to acquire a high-quality asset at a material discount to replacement cost in a market that has some of the nation s highest barriers to home ownership and is chronically underserved by rental apartments, said David Hamm, Head of Real Estate at Wafra. We are excited to partner on this transaction with the highly talented and respected team at Cityview.
Silva features top-of-the-line amenities including a spacious sky lounge that offers coworking space and a large deck with panoramic views, a resort-style pool and spa overlooking the Hollywood sign, a club room with arcade games and a private screening room, and programmatic outdoor space. A double-height fitness center features state-of-the-art equipment and storefront glass on two sides, while outdoor dining areas with firepits and BBQs are scattered throughout the property. Additional amenities include a dog run and green space, secure storage areas and EV charging stations.
The community offers expansive studio, one-, two-, and three-bedroom floor plans with elevated interior finishes including nine-foot ceilings and floor-to-ceiling windows that highlight views of Downtown Los Angeles, Griffith Park Observatory, the Hollywood Sign and the Santa Monica Mountains. The project s designer kitchens feature quartz countertops, high-end fixtures and appliances and full-height tile backsplashes. All floorplans include full-size, front-loading washer and dryers and smart thermostats, and most units offer large walk-in closets and private oversized balconies or patios. The units average 1,000 square feet, providing ample space for residents to work from home or entertain.
Silva is one of the few 200+ unit multifamily communities ever to deliver in this pocket of the city, making it an incredibly unique investment opportunity hard to replicate due to the area s high barriers to entry and lack of developable land, added Burton.
Located at 235 N Hoover Street, Silva is situated less than a mile from the 101 Freeway and the Vermont/Beverly Metro station, providing easy access to the nearby employment hubs of Downtown Los Angeles, Hollywood, Century City and Santa Monica as well as the Tri-Cities area of Burbank, Glendale and Pasadena. The community is ideally located at the center of some of Los Angeles most dynamic neighborhoods, including Silver Lake, Historic Filipinotown, Echo Park, East Hollywood and Koreatown.
Chris Tresp and Derrek Ostrzyzek at CBRE brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.

LOS ANGELES, LA – Affirmed Housing, a leading provider of affordable housing throughout California, announced the opening of Lumina. Located in the Chatsworth neighborhood, Lumina is a new, supportive housing development with onsite services aimed at helping people experiencing homelessness, including formerly unhoused veterans and people with disabilities, transition to more stable lives. It is the first new apartment community for the unhoused in its district and one of the first projects of its kind to be built outside of the city s southern and metro areas.
State Assemblywoman Pilar Schiavo remarked, As the Chair of the Assembly Military and Veteran Affairs Committee, I m especially proud that my own community of Chatsworth is housing veterans experiencing chronic homelessness. I have been working closely with Lumina to ensure people in our own community, with a focus on veterans, get off the streets and into this permanent housing with the services they need to get them on their feet for the long term. This project exemplifies our commitment to real solutions to homelessness and I m so proud to have supported this solution from the beginning.”
We have advocated for our veterans with hundreds of mayors in Washington, DC so that they can receive the housing support and services that they deserve while also locking arms with our city partners to bring our unhoused veterans inside and prevent them from falling into homelessness in the first place, said Los Angeles Mayor Karen Bass. Projects like this are an important part of our overall approach to save lives and bring people inside and further the City s efforts to prevent and end homelessness. The number of people experiencing homelessness has dropped for the first time in years and we remain committed to urgently continuing this progress by bringing more people inside as more affordable and permanent housing is being built.
Formerly the site of a vacant car lot, Lumina is a five-story development that delivers 54 studio apartments for households earning 30% of the area median income (AMI), with half reserved for unhoused veterans, and one manager unit. Lumina was developed with funding from California s Veterans Housing and Homeless Prevention Program (VHHP) and Measure HHH, a $1.2-billion bond that Los Angeles voters overwhelmingly approved for the development of supportive housing for unsheltered individuals and families throughout the city.
Housing resources, like Lumina, help break cycles of chronic homelessness by combining housing and supportive care and services under one roof, said Jimmy Silverwood, president of Affirmed Housing. Lumina is a safe, secure environment where residents can reacclimate and have seamless access to specialized resources that improve their quality of life. Lumina and projects like it that prioritize the health and wellness of occupants enhance lives and make our cities and communities better places to live.
In addition to housing, Lumina features onsite case managers from The People Concern, who deliver specialized care and guidance to help the formerly unhoused residents build a more solid foundation for a healthy and safe future. Case worker offices are situated on the ground floor in a shared, secured office space, adjacent to a staff break room for easy tenant access. The building includes several shared amenities to encourage community engagement, such as a rooftop deck and nearly 2,000 square feet of ground floor space with bike storage, a laundry room and a large community room with media areas and a kitchen space. Sustainable elements are also incorporated throughout the building, including energy efficient appliances in each studio apartment.
Lumina is situated close to several off-site amenities that foster more independent living. Nearby are a pharmacy, grocery store and a park. Public transportation options are easily accessible, among them are a Metro bus transit stop conveniently located just steps away from the property and the Metro s Chatsworth Station lies within half a mile.

DALLAS, TX – S2 Capital, a national, vertically integrated multifamily investment manager, announced the acquisition of The Place at Saddle Creek, a 238 unit, two story, multifamily property located in Carrollton, Texas, a prominent Dallas suburb. Terms of the transaction were not disclosed.
“The Place at Saddle Creek is an appealing acquisition for S2, as the property has not experienced a full renovation in over a decade, during which the Dallas-Fort Worth area experienced a significant surge in rent and population growth,” said Ryan Everett, Vice President of Acquisitions at S2. “Our ability to assume the existing fixed rate Freddie Mac loan at a low leverage point, ensures immediate cash flow at the property level. We’re excited to be implementing an extensive renovation plan with value-add updates to the property to improve the overall experience for residents, and provide immediate rental upside.”
Located at 3420 Country Square Dr in Carrollton, residents are adjacent to many lifestyle attractions found in the Village on the Parkway, Addison Circle and Downtown Carrollton, all hubs for shopping and dining, as well as many residential neighborhoods and upscale homes, and an array of excellent public schools. The Place at Saddle Creek is also near a variety of public parks, nature areas and the popular Lewisville Lake, a destination for boating, fishing and outdoor recreation. Beyond the City of Carrollton, residents are connected to the greater Dallas-Fort Worth area through major transportation systems including the Dallas North Tollway and I-635.
Within the property, residents enjoy two private community pools, outdoor grilling stations, a renovated fitness center, tennis and pickleball courts, a business center, dog park and Amazon lockers. The majority of The Place at Saddle Creek’s individual apartment units are in classic condition from the property’s initial construction, while select units feature modern finishes, with quartz countertops, stainless steel appliances, balconies, fireplaces and upgraded flooring.
S2 plans to rebrand the property as ‘Brookbend,’ and the comprehensive renovation plan includes enhancing unit interiors with new granite countertops, upgraded kitchen hardware and bathroom fixtures. Additionally, S2 plans to renovate the building’s exterior and improve the leasing office, gym and pool areas.

SEATTLE, WA – Virtú Investments, a multifamily real estate investment firm primarily engaged in the acquisition and management of apartments in the western United States, announced it has acquired Skyglass Tower, a brand-new Class A, 338-unit, 31-story multifamily tower located in downtown Seattle, WA.
Completed in 2024, the LEED Gold, glass-paneled high-rise in the South Lake Union neighborhood is comprised of luxury studio and 1-3 bedroom units, three floors of underground parking, as well as retail space at ground level. Additional features include a rooftop green space, gym, a lobby with high-end finishes, and views of the Space Needle.
Virtú sees the Pacific Northwest, and Seattle in particular, as an attractive target for multifamily investment driven by the area s rising employment figures and high demand for luxury apartments, coupled with property values currently well below their peak.
Limited high-end multifamily supply and bottoming prices in the Seattle market makes this a great time for Virtú to invest opportunistically in this key area of the Pacific Northwest, said Michael Green, CEO of Virtú Investments. We have decades of experience investing in multifamily buildings across market cycles, and are eager to continue identifying investment opportunities like these for the benefit of our stakeholders.
Virtú acquired Skyglass Tower as a joint venture with the Real Estate Business at Goldman Sachs Alternatives and the Virtú Evergreen Fund, an open-end fund launched in 2015 for generational ownership, long-term compounding, extreme tax efficiency and flexible liquidity. The Evergreen Fund is designed to take advantage of 1031 Exchanges within the Fund to perpetually defer taxes on gains and cashflow.
Cushman & Wakefield s Capital Markets team led by Marc Renard, Sam Wayne, and Dave Karson represented the seller, Gemdale USA, in the transaction.
Cushman & Wakefield s Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer, Paul Roeter and Jason Blankfein served as the exclusive advisor to the joint venture in the procurement of acquisition financing. The loan was provided by Corebridge.
Skyglass attracted global investor interest including pension funds, private equity, family offices and multifamily funds who recognized the merits of this compelling opportunity, said Renard. The depth of capital reflects investor conviction for the future of Seattle and best-in-class developments.

WEST LAFAYETTE, IN – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announces its plans to build The Standard at West Lafayette, a 678-bed, 253-unit student housing community near Purdue University in West Lafayette, Indiana.
The site, on the corner of Pierce and West Wood streets, sits adjacent to the east side of Purdue’s campus, which hosts several academic buildings and the Purdue Memorial Student Union. Offering 240,299 square feet of residential space in a mix of studios to four-bedroom units, The Standard at West Lafayette will add much needed off-campus housing supply to serve students of Purdue University.
BKV Group is the project’s architect while Landmark Urban Construction, the in-house general contractor for Landmark Properties, will serve as construction manager on the 13-story project. Delivery is anticipated for Fall 2027. The project received formal approval from the City of West Lafayette on July 1, 2024.
“We are pleased to bring The Standard at West Lafayette to the Purdue University community,” said Wes Rogers, CEO of Landmark Properties. “For the 2023-2024 academic year, Purdue reported its ninth consecutive record-breaking year for applicants and enrollments. The West Lafayette campus noted an all-time high of more than 52,200 students, with the majority living near campus. The Standard at West Lafayette is a response to the demand for high-quality off-campus housing.”
All units will feature gourmet kitchens with quartz countertops and stainless-steel appliances, high-speed internet and cable, large closets, and in-unit laundry. Finishes include hardwood-style laminate floors, custom wood trim and plantation blinds. Balconies are offered in select residences. The Standard at West Lafayette will offer 18,234-SF of amenity space, such as a rooftop clubhouse with an outdoor heated pool and fitness center, as well as a fourth floor indoor/outdoor amenity level with seating, grilling area, gaming lounge and interior courtyard. The property also has the most study space of any building in town, with options on every floor. The community will provide garage parking for 207 vehicles. Additionally, The Standard will be a six-minute walk to the nearest bus stop which has routes taking students to and from the north and western sides of campus.
The Standard at West Lafayette will be Landmark Properties’ second student housing development in Indiana, which includes The Standard at Bloomington, which opened in Fall 2023 for students attending Indiana University.

PHOENIX, AZ – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, announced the start of leasing at Harwood, a luxury community ideally located in North Phoenix.
Harwood includes 268 upscale apartment homes that offer the ultimate in comfort and convenience. Its spacious, well-appointed homes feature top tier finishes, providing the perfect combination of style and functionality. In addition to its beautifully appointed apartments, Harwood also offers a superb suite of amenities catering to nearly every interest. The community is strategically located near interstate highways and major thoroughfares, providing seamless connectivity to all parts of the valley.
“Harwood is the perfect home base for almost every way of life, whether you’re a single outdoor adventure seeker, retired couple or a young family,” said Daniel Tilton, Senior Vice President of Development with Quarterra. “With access to recreation areas, top-rated schools and no less than 10 challenging golf courses nearby, Harwood’s location at Cave Creek and Loop 101 caters to a wide range of lifestyles. A curated list of amenities and thoughtful home designs create a welcoming place to call home, while the quick access to major transit routes lends itself to local outings or day trips.”
Outdoor lovers will appreciate Harwood’s proximity to Cave Buttes Recreation Area, Phoenix Mountain Preserve and a variety of other local recreation opportunities. Families will value the exceptional schools, including Fireside Elementary, ranked in the top 5% of schools in Arizona, and Pinnacle High School, nationally ranked by U.S. News and World Report for standardized test performance, graduation rate and college prep. Other local schools include Desert Ridge Junior High and High School. Kids and fun-seekers of all ages will enjoy neighboring Adobe Mountain railroad park and Hurricane Harbor water park. Other nearby amenities include the Reach-11 Sports Complex, consisting of 18 lighted soccer fields, two baseball fields and concessions.
Harwood is surrounded by best-in-class restaurants, including Mastro’s City Hall Steakhouse, Tommy V’s Urban Kitchen & Bar, The Capital Grille, True Food Kitchen and RA Sushi Bar Restaurant. The nearby Desert Ridge and High Street retail corridors are both less than seven minutes away, featuring Flower Child, Yard House, Ocean Prime, Kona Grill and Keg Steakhouse. The high-end retail centers at Kierland and Scottsdale Quarter are also easily accessible. For entertainment, the Musical Instrument Museum, Desert Botanical Garden, Phoenix Zoo, Arizona Science Center and OdySea Aquarium all offer unique local outings in the broader Phoenix Metro.
Situated at 2500 East Marco Polo Road, Harwood is only a two-minute drive from Loop 101 (Pima Freeway) which encircles the Phoenix Metro Area and runs east-west from the property. The community is also an easy drive from north-south thoroughfares AZ 51 (Piestewa Freeway) with access to Phoenix Sky Harbor International Airport. Nearby east-west arterials E Shea Boulevard property and E Bell Road parallel and intersect Loop 101, respectively. The regional connectivity put residents within commutable distance of regional employers, including: American Express, USAA, Intel Corporation, Honeywell Aerospace, Wells Fargo, State Farm, Banner Health, HonorHealth, Mayo Clinic and UnitedHealth Group.
Harwood includes a mix of studio, one- and two-bedroom apartment homes, ranging from 524 to 1,312 square feet. The modern homes include smart lighting controls, keyless entries and energy efficient HVAC with temperature controls. Kitchens feature pendant lighting and under-cabinet ambiance lighting, a stainless-steel appliance package, designer inspired ceramic tile backsplashes, undermount sinks with designer faucets and quartz countertops. Homes utilize luxury vinyl plank flooring throughout, with tile flooring and shower surrounds in bathrooms. Bedrooms are designed with expansive closets.
Residents of Harwood have access to a resort-style pool and spa courtyards with barbeque grilling stations. A comfortable resident lounge, state-of-the-art fitness center with outdoor terrace, pet spa and park, package lockers and package room, and EV charging stalls are all available for resident use.