WASHINGTON, DC – CIM Group announced the sale of The Argonne, a 276-unit, eight-story apartment building that was acquired in 2013.
Built in 1923, the Argonne is a handsome brick building offering historic charm with residences designed in studio to three-bedroom floorplans. Residents have access to many amenities including a swimming pool, fitness center, conference center, yoga room and dog park.
Under CIM Group s management, The Argonne has undergone a program of upgrades and modernization including to the building s lobby, common areas, corridors and façade.
Located at 1629 Columbia Rd. NW at the corner of Columbia Road and 16th Street NW, residents are walking distance to the Columbia Heights Metro station providing regional connectivity. The Argonne skirts the Columbia Heights neighborhood and is convenient to Washington DC s many historic neighborhoods, cultural attractions, hubs of business and government, as well as parks, shopping, dining and entertainment.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

REVERE, MA – Redgate announced Gibson Point, 291 apartment homes located in Revere, MA that offer residents a holistic wellness experience unlike any other. Nestled alongside the shimmering waters of the North Shore, Gibson Point provides opportunities for spa-like living in relaxed luxury apartments with breathtaking water views and seamless connectivity to Greater Boston.
An on-site restaurant is planned to provide residents with healthy, flexible dining options from breakfast to dinner and beyond, allowing residents and neighbors to enjoy a holistic experience that nourishes their body, mind and soul from dawn to dusk.
Gibson Point contains a variety of studio, 1-bedroom, 2-bedroom and 3-bedroom units that combine a blend of luxury and modern convenience. In-unit amenities include stainless steel appliances, private terraces and balconies, high ceilings and work-from-home nooks. The property’s opportune location provides residents with seamless connectivity to both Boston and Route 1A, including an in-house electric shuttle that will offer frequent and convenient rides for residents to-and-from the Wonderland T stop and other key locations, including Revere Beach.
Wellness-focused amenities are infused throughout Gibson Point, beginning with the on-site restaurant that will offer residents a wide array of chef-driven, healthy food options to enjoy throughout the day. A state-of-the-art fitness studio containing an array of top-line strength and cardio equipment, provides opportunities for both individual and group training sessions and includes an indoor/outdoor multipurpose studio designed for yoga or barre workouts. The on-site sauna and cold plunge pools will allow residents to engage in “thermal cycling” a process known to optimize the body’s recovery processes.
Residents can cool down and unwind from a workout in the Recovery Room, which contains equipment such as Normatec leg compression boots, Therabody foam rollers and massage guns/loungers. Gibson Point’s unparalleled digital spa platform makes signing up for on-site spa treatments, including massages and facials, a seamless experience and allows residents to continue their recovery and rejuvenation throughout the day.
Gibson Point will offer a unique combination of 11 private coworking areas, both indoors and outdoors, tailored to meet the needs of modern residents seeking flexible work from home solutions. Standing treadmill desks and walking pads will provide the perfect solution for residents who want to continue their wellness experience and stay active while working. An outdoor terrace space will extend off the co-working space and allow residents to soak up sunshine and waterfront views throughout their workday.
Gibson Point’s immediate access to Gibson Park allows residents opportunities to practice golf and play tennis, pickleball, basketball, soccer, or whatever recreational activities they enjoy. Residents will also benefit from the kayak and rowing launch and soon-to-come community boating center. With nearby tennis, pickleball and basketball courts at Gibson Park, and easy access to a multi-purpose grass sports field, residents will have space for all their favorite activities. Residents are also encouraged to take advantage of the outdoor community garden space and grow fresh and healthy produce for themselves, family and neighbors.
At the end of a long day, Gibson Point’s upper-level Sunset Lounge showcases waterfront views overlooking Gibson Park to support relaxation and community gatherings. The Sunset Lounge is equipped with an indoor/outdoor bar, deck outfitted with comfortable seating, and a fully equipped kitchen. With panoramic views of the ocean and the Boston skyline, the Sunset Lounge will be a panoramic viewpoint, offering residents a breath of fresh air to close out their day.
“From our state-of-the-art cold plunge pool to serene onsite spa experiences, every amenity at Gibson Point is meticulously curated to nurture mind, body, and soul,” said Damian Szary, Principal of Redgate. “Paired with its commuter convenient location, on-site dining options, and picturesque vistas, Gibson Point will provide an unparalleled resident experience that serves as a gateway to a vibrant, balanced lifestyle.”

REVERE, MA – Redgate announced Gibson Point, 291 apartment homes located in Revere, MA that offer residents a holistic wellness experience unlike any other. Nestled alongside the shimmering waters of the North Shore, Gibson Point provides opportunities for spa-like living in relaxed luxury apartments with breathtaking water views and seamless connectivity to Greater Boston.
An on-site restaurant is planned to provide residents with healthy, flexible dining options from breakfast to dinner and beyond, allowing residents and neighbors to enjoy a holistic experience that nourishes their body, mind and soul from dawn to dusk.
Gibson Point contains a variety of studio, 1-bedroom, 2-bedroom and 3-bedroom units that combine a blend of luxury and modern convenience. In-unit amenities include stainless steel appliances, private terraces and balconies, high ceilings and work-from-home nooks. The property’s opportune location provides residents with seamless connectivity to both Boston and Route 1A, including an in-house electric shuttle that will offer frequent and convenient rides for residents to-and-from the Wonderland T stop and other key locations, including Revere Beach.
Wellness-focused amenities are infused throughout Gibson Point, beginning with the on-site restaurant that will offer residents a wide array of chef-driven, healthy food options to enjoy throughout the day. A state-of-the-art fitness studio containing an array of top-line strength and cardio equipment, provides opportunities for both individual and group training sessions and includes an indoor/outdoor multipurpose studio designed for yoga or barre workouts. The on-site sauna and cold plunge pools will allow residents to engage in “thermal cycling” a process known to optimize the body’s recovery processes.
Residents can cool down and unwind from a workout in the Recovery Room, which contains equipment such as Normatec leg compression boots, Therabody foam rollers and massage guns/loungers. Gibson Point’s unparalleled digital spa platform makes signing up for on-site spa treatments, including massages and facials, a seamless experience and allows residents to continue their recovery and rejuvenation throughout the day.
Gibson Point will offer a unique combination of 11 private coworking areas, both indoors and outdoors, tailored to meet the needs of modern residents seeking flexible work from home solutions. Standing treadmill desks and walking pads will provide the perfect solution for residents who want to continue their wellness experience and stay active while working. An outdoor terrace space will extend off the co-working space and allow residents to soak up sunshine and waterfront views throughout their workday.
Gibson Point’s immediate access to Gibson Park allows residents opportunities to practice golf and play tennis, pickleball, basketball, soccer, or whatever recreational activities they enjoy. Residents will also benefit from the kayak and rowing launch and soon-to-come community boating center. With nearby tennis, pickleball and basketball courts at Gibson Park, and easy access to a multi-purpose grass sports field, residents will have space for all their favorite activities. Residents are also encouraged to take advantage of the outdoor community garden space and grow fresh and healthy produce for themselves, family and neighbors.
At the end of a long day, Gibson Point’s upper-level Sunset Lounge showcases waterfront views overlooking Gibson Park to support relaxation and community gatherings. The Sunset Lounge is equipped with an indoor/outdoor bar, deck outfitted with comfortable seating, and a fully equipped kitchen. With panoramic views of the ocean and the Boston skyline, the Sunset Lounge will be a panoramic viewpoint, offering residents a breath of fresh air to close out their day.
“From our state-of-the-art cold plunge pool to serene onsite spa experiences, every amenity at Gibson Point is meticulously curated to nurture mind, body, and soul,” said Damian Szary, Principal of Redgate. “Paired with its commuter convenient location, on-site dining options, and picturesque vistas, Gibson Point will provide an unparalleled resident experience that serves as a gateway to a vibrant, balanced lifestyle.”

AUSTIN, TX – 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 The Prado has begun accepting pre-leases with first units available for move-ins this summer.
“The Prado is a uniquely sophisticated community located in a growing area of East Austin,” Alex Perkins, Director, Development, Greystar, said. “Designed in the style of a Texas ranch house, the community offers a sanctuary away from the hustle and bustle, while still being convenient to east Austin and downtown. The Prado will be the marquee apartment community circa the Tesla Gigafactory, offering an unmatched living experience for anyone looking to live in the growing Del Valle neighborhood.”
The community will have 396 units upon final completion with first units delivering in summer 2024. Floorplans will be available in studio, one-, two- and three-bedroom layouts. Residences will include warm oak-style flooring, designer lighting and quartz countertops. Select homes will have an individual yard or balcony to extend the living space outdoors.
The Prado was thoughtfully designed by Meeks + Partners, with the Michael Hsu Office of Architecture designing the interiors and TBG Partners creating a landscape that blends in with southeast Austin’s natural beauty. The community amenities are functional and inventive. The library-adorned clubhouse has ample co-working space. A pickleball court headlines the outdoor amenities that also include a resort-style pool, outdoor grills, an outdoor pizza oven, a dog park and an expansive picnic area.
The community’s location is not only convenient to downtown but is less than two miles from Tesla’s Gigafactory. The Prado is close to a variety of dining options that include Radio Coffee, Veracruz Tacos, Pinthouse Pizza and more. Recreational opportunities abound with the Hornsby Bend Bird Observatory, Colorado River Park Wildlife Sanctuary, McKinney Falls State Park, Southern Walnut Creek Trail, Ladybird Lake and The Circuit of the Americas. Plans for an HEB less than a mile away have been announced and Uncommon Objects and Music Lane are two shopping options.

CASA GRANDE, AZ – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the future site of Cottonwood Ranch during a ceremony with LAC leaders, local policymakers and partners. Cottonwood Ranch will provide 300 affordable housing units to individuals and families in Pinal County earning less than 50% and 60% of the Area Median Income.
“Lincoln Avenue Communities is proud to begin construction on our first ground-up development in Arizona,” said Jeremy Bronfman, founder and CEO of LAC. “Once completed, Cottonwood Ranch will provide affordable, high-quality housing to renters facing increasing costs in the rapidly growing Phoenix metropolitan area.”
The property will include 2, 3, and 4-bedroom layouts, with all units expected to be completed in late 2025. LAC and its partner Fairview Housing Partners will provide resident services at the property, helping families connect with local organizations and access supportive resources in their community.
“The city of Casa Grande is excited to partner with Lincoln Avenue Communities to bring much-needed housing to our growing community,” said Casa Grande Mayor Craig McFarland. “These apartments will provide safe, quality housing for our young families, schoolteachers, police officers, firefighters, and the workforce of our new industries.”
Cottonwood Ranch will offer amenities including a fitness center, pool, yoga studio, clubhouse and dog park. The property will also include a rooftop and carport solar system that will offset 70% of the community’s electricity usage.
“LAC is committed to creating innovative housing solutions for residents that ensure the resiliency of the communities they live in,” said Ben Taylor, LAC vice president and project partner. “We’re especially excited that Cottonwood Ranch will feature an innovative solar energy system that will benefit generations of Arizonan families.”
The project was financed through Multifamily Housing Revenue Bonds from The Arizona Industrial Development Authority; a HOME loan from the Arizona Department of Housing; Federal Low-Income Housing Tax Credits, provided by the Arizona Department of Housing, along with Solar Tax Credits, which were purchased by Bank of America; a tax-exempt loan from Freddie Mac serviced by Greystone; land acquisition financing by NewWest Capital; and construction financing also provided by Bank of America.

TAMPA, FL – Suffolk, one of the largest and most innovative construction enterprises in the country, announced it is partnering with developer Darryl Shaw and KETTLER on the construction of Gasworx, a vibrant mixed-use development in Tampa s Ybor City that will build on Ybor s rich history to create a new urban neighborhood at the crossroads of culture, tradition and community.
The district, which will include up to 5,000 modern residences, 500,000-square-feet of cutting-edge office space and 140,000-square-feet of carefully curated retail space, promises to deliver sophisticated living and working spaces for Ybor City visitors and residents alike.
Suffolk is honored to work with Darryl Shaw and KETTLER on this incredible Gasworx project in Ybor City, a unique community driven by arts, culture and history, that continues to attract residents, businesses and visitors because of its high quality of life, said James Scarpace, General Manager of Suffolk in Tampa. Our wealth of experience and strong and diverse project portfolio in Tampa, appreciation and track record for delivering historic renovation projects, and use of sophisticated technologies and processes will allow us to deliver a seamless and successful project that will make Shaw, KETTLER and the Ybor City community proud.
Suffolk will deliver multiple projects within the Gasworx development; a newly constructed 100-000-square-foot office building, and a more than 500 space above-grade parking structure wrapped with a five-story residential building. Shaw, Suffolk and KETTLER are committed to meaningfully engaging with the local community throughout the duration of the project, aiming to honor the neighborhood s rich culture and history while providing a platform for the community to evolve into a sophisticated destination of the future. The project is set to break ground this summer.
Suffolk is an innovative industry leader well-established in its core competency of construction management while also providing vertical service lines such as real estate development funding, self-perform, technology R&D and investment, and design-assist. Gasworx will add to Suffolk s impressive portfolio in Florida, which includes signature projects such as The Residences at 400 Central in St. Petersburg, The Seminole Hard Rock Hotel & Casino in Hollywood, The Ritz-Carlton Residences in Naples, and 1991 Main Street in Sarasota. This diverse and impressive portfolio demonstrates Suffolk s expertise leveraging innovative technologies and sustainable solutions to deliver cutting-edge projects across every major industry sector.

AUBURN, AL – Muinzer, a leading real estate investment firm specializing in student housing, alongside capital partner T2 Capital Management, announced the acquisition of Evergreen Auburn near Auburn University. The property consists of 486 student housing beds that are 97% leased for the August 2023 school year and 88% pre-leased for the August 2024 school year.
Muinzer’s purchase of Evergreen Auburn marks its first acquisition in the Auburn University submarket. “We are investing capital into what we believe is a compelling environment to purchase quality student housing assets. Evergreen Auburn was a logical target for us as we continue the nationwide expansion of our student housing platform,” said Marc Muinzer, Founder and CEO of his namesake firm. “We will continue to scale and heavily concentrate our student housing investments near the largest, fastest growing four-year universities,” added Mr. Muinzer.
Muinzer began investing in student housing in 2002 and is one of the largest owners in the Big Ten and SEC Conferences. “We continue to have long-term conviction in student housing and are actively deploying capital towards our goal of acquiring an additional $1 billion of student housing assets near high-growth universities,” added Michael Snyder, COO of Muinzer.
Muinzer and its affiliate South Street Capital were founded by Marc Muinzer in 2002. With offices in Los Angeles, Knoxville, Auburn, West Lafayette, and Chicago, Muinzer is one of the largest owners and operators of student housing in the Big Ten and SEC Conferences.

SAN DIEGO, CA – Affirmed Housing, a leading provider of affordable, multifamily housing throughout California, and the Metropolitan Transit System (MTS) announced the completion of ShoreLINE, a new, 100% affordable, transit-oriented housing development for households earning between 30 and 60 percent of the area median income (AMI).
Transit-oriented developments are smart investments that help pave the way for healthy cities and citizens, and ShoreLINE goes above and beyond to demonstrate exactly that, said Jimmy Silverwood, president of Affirmed Housing. This project provides hard working families and individuals with more than just a roof over their head. It recognizes their contribution to society and gives them the access and resources to live their best lives. Affirmed Housing is proud to partner with MTS in developing impactful, forward-looking projects that help make San Diego one of the best places to live.
The new $62.6 million affordable housing community is located at the Grantville Transit Center on Alvarado Canyon Road. A grand opening celebration was held on April 30 with Mayor Todd Gloria, MTS Board Chair and San Diego City Councilmember Stephen Whitburn, Councilmember Raul Campillo and regional housing leaders in attendance.
ShoreLINE is another example of how MTS is repurposing park and ride locations to provide much-needed relief to our region s housing crisis, said Stephen Whitburn, MTS Board Chair and San Diego City Councilmember. This transit-oriented development has proven to be a successful opportunity for the public and private sectors to partner to offer affordable housing along with sustainable transit options for San Diegans.
ShoreLINE was developed to support residents holistic healthy living and wellbeing. The new, seven-story building features 126 studio, one-, two- and three-bedroom apartment homes and a wide array of amenities and services to foster community engagement and enhance quality of life goals.
I am proud to support ShoreLINE because it prioritizes hard-working, lower-income San Diegans and their families by delivering homes that they can afford along with the resources that will enhance their quality of life, said Mayor Todd Gloria. Being located directly at a trolley stop will provide residents with easy access to transit and help the City reach its climate goals. I appreciate the work Affirmed Housing and MTS are doing to bring ShoreLINE and other transit-oriented projects like it to fruition.
Shared indoor amenities include laundry facilities on every level, bike storage, a computer lab, kitchen and a community room with gathering space. ShoreLINE s outside space includes parking, an expansive courtyard, outdoor gardens and additional gathering spaces with built-in seating, an enclosed tot-lot play area and a barbecue station. A large paseo leading to the main entrance and several paths through and around the building connect to the transit station to encourage pedestrian and bike activity. Residents also have exclusive access to onsite supportive services, such as after-school programs for children and adult education programs that focus on health and wellness, skills and career building, human services and more.
ShoreLINE is part of a larger plan to redevelop MTS top-tier park and ride locations into transit-oriented developments. The site replaces an existing MTS parking lot, with the affordable development situated on the western half and a separate, neighboring, market-rate development for students, developed by Greystar, located on the eastern side of the lot. Affirmed Housing worked closely with the team at Greystar to master plan the overall site in a way that was most beneficial to MTS s goals as landowner. As part of ShoreLINE s development, Affirmed Housing leveraged various types of funding and tax credit resources, and although the project s plan adhered to the land use guidelines governing the site, the company engaged and worked closely with the San Diego Development Services Department to ensure a smooth process and engaged in community outreach to neighbors and planning groups.
ShoreLINE is one of four affordable housing projects that stem from an Affirmed Housing and MTS partnership. The team recently broke ground on SkyLINE, located at the Rancho Bernardo Transit Station, which will include 100 affordable apartment homes and roughly 14,000 square feet of commercial space that will be Affirmed Housing s new corporate headquarters. Other top-tier properties MTS is in the process of redeveloping include: Rancho Bernardo Transit Station, Palm Avenue Trolley Station, Spring Street Station, 12th & Imperial Transit Center, El Cajon Transit Center, E Street Transit Center, and Beyer Boulevard Transit Center.
Additionally, MTS has existing transit-oriented developments at the Morena Linda Vista Station, Grossmont Station, 62nd Street Station, 47th Street Station and Grantville Station, with 1,155 apartments homes completed and occupied, and an additional 100 currently under construction.
Affirmed Housing s development and design partners on ShoreLINE include MTS, San Diego Housing Commission, the California Department of Housing and Community Development (HCD), the City of San Diego, Boston Financial, Cal Bank & Trust, Banner Bank, Studio E Architects, HA Builder Group, Compass for Affordable Housing, CONAM Management Corporation and more.

PORTLAND, OR – Virtú Investments, a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States, announced the acquisition of Kearney Plaza, a 131-unit market rate multifamily property in the Pearl District of Portland, Oregon. The purchase price was approximately $33 Million, representing a discount of approximately 50% to today s estimated replacement cost, and a 10% discount to the seller s purchase price in 2011.
Portland’s continued economic growth and limited supply of high-quality multifamily properties make the Kearney Plaza acquisition a rare opportunity in Portland s competitive real estate landscape. While late to reemerge from Covid-19, Virtú Investments considers the Portland market to have immense potential for sustained rent growth in the years ahead. The market is entering a low-supply era for apartments, with no new multifamily projects breaking ground since Q4 2022 while demand continues to rise.
“We are confident in Portland’s long-term prospects and believe that Kearney Plaza will deliver strong returns for our investors while contributing positively to the community,” said Michael Green, CEO of Virtú Investments. We are entering an extremely attractive investing environment for multifamily in specific markets like Portland, where valuations are beginning to represent a once-in-a-decade entry point, particularly for credit-worthy borrowers with access to quality lenders. We believe this is the beginning of a new market cycle with significant potential for producing long-term value for our portfolio.

VANCOUVER, WA – A real estate fund managed by Kennedy Wilson has partnered with Haseko Corporation to acquire The Farmstead and Villas at 28th Street communities in Vancouver, Washington. The portfolio, which totals 350 multifamily units, was acquired for $90 million. The two newly constructed, amenity rich communities build on Kennedy Wilson s significant multifamily presence in the Pacific Northwest that is currently approaching 13,000 market rate and affordable apartment units.
This transaction furthers our corporate goal of growing our investment management platform alongside great strategic partners while leveraging our long-term experience of investing in multifamily across the Pacific Northwest, said William McMorrow, Chairman and CEO of Kennedy Wilson. Building on our 30-year history in Japan, we are thrilled to close our first joint venture with Haseko, an organization that shares our investment values as well as our focus on institutional asset management practices.
This is a landmark achievement in our growth strategy within the mainland U.S., solidified through our new partnership with Kennedy Wilson. While our presence in Hawaii has been longstanding, our renewed venture into the mainland U.S. began in 2019, primarily in collaboration with developers linked to Japan. To begin with, we are striving to reach $100 million in annual profit, it is imperative for us to collaborate with local investors like Kennedy Wilson. This strategic partnership not only expands our investment platform but also underscores our commitment to diversification, and sustainable growth,” said Kain Matsumoto, Chairman and President of Haseko North America, Inc.
Despite the volatile capital markets, we remain committed to investing in the U.S. multi-family sector. We would like to thank the team at Kennedy Wilson for a smooth closing and look forward to expanding our footprint of existing and ground-up projects across the U.S., said Laurie Mathers, Head of Investment and Asset Management of Haseko North America, Inc.
The recently completed communities feature diverse floor plans across three different product types as well as expansive amenities, including secure gated access, fitness centers, dog parks, a pickle ball court, pet wash stations, natural green space, and walking trails. Located off Interstate 205, the communities sit within five minutes of each other and within 10 minutes of Portland, Oregon, providing residents with connectivity and immediacy to the area s high-quality employers, sought-after recreation, and popular eateries.
Vancouver s strong market fundamentals and population growth of 21% since 2010 have been driven by the expanding of the Vancouver Waterfront, the revitalization of downtown, and a favorable business climate that includes zero corporate or personal income tax.