MIDLOTHIAN, VA – Middleburg Communities announced it has secured financing from Simmons Bank to begin construction of Hamlet Falling Creek, a 260-unit build-to-rent community to be developed along Genito Road in Midlothian, Virginia about 20 minutes southwest of Downtown Richmond. The project marks Middleburg s second build-to-rent community in Midlothian, joining Hamlet Watkins Centre, which is currently under construction.
We are excited to develop Hamlet Falling Creek, which, together with Hamlet Watkins Centre, will set the standard for what build-to-rent living in Richmond is all about, said Robin Bettarel, Managing Director of Development for Middleburg s Mid-Atlantic Region. This type of community is highly appealing to all types of lifestyles – families, individuals, empty nesters – as it provides the opportunity to reside in a high-quality, meticulously maintained neighborhood without the burden of property upkeep or maintenance.
Part of an approximately 100-acre master plan including for-sale homes and townhomes, retail, and preserved wetlands, Hamlet Falling Creek will offer one-, two- and three-bedroom cottages, duplexes and townhomes for rent. Like Hamlet Watkins Centre, the community will provide a truly differentiated living experience, with luxury finishes in every home, a best-in-class amenity package and a pedestrian-friendly neighborhood design. Situated between Route-288, Powhite Parkway, and Hull Street Road, the property s location offers easy access to Downtown Richmond and 530,000 jobs within a 30-minute drive. The site is located in the highly-rated Chesterfield County school district and is part of the Genito Road/288 Corridor improvement plan, which includes landmark projects such as the recent expansion of the RiverCity sportsplex and The Lake, a massive surf-park anchored development currently under construction.
Selim Tay-Agbozo, President of Middleburg Development, stated, The Richmond MSA possesses many of the fundamentals that drive our investment decisions. It continues to benefit from strong population growth as a result of its robust business climate, top-tier school and health systems, and desirable quality of life. On top of that, the availability of single-family homes available for purchase or rent in the area is at historic lows, and we look forward to helping fill that gap with the development of these two communities.
Hamlet Falling Creek will offer renters a new rental experience blending the amenities and professional management of a Class-A apartment community with the welcoming feel of a neighborhood. All residences will feature stainless steel Energy Star appliances, quartz countertops, luxury vinyl plank flooring, 9 ceilings, private patios with yard space, and more. Shared amenities include a resort-style pool, fitness center, dog park, several pocket parks and shared green spaces, co-working booths, EV charging stations and extensive pedestrian walkways.
Middleburg expects the first units at Hamlet Falling Creek to be completed in late-2025. Middleburg currently has six built-to-rent communities under construction in Richmond, Charlotte, Charleston, Jacksonville, Huntsville, and Wilmington.

HOUSTON, TX – Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced that it has acquired a 384-unit multifamily apartment property in Houston, Texas, with plans to fully renovate the community. The company purchased the property, located on Elmside Dr. in the Westchase neighborhood of Houston, Texas for $28.9M and will spend $10.5 million on upgrades. Sunstone Two Tree is handling the construction, which has already started, with an anticipated completion date in 2025.
“Houston continues to experience strong job and population growth as evidenced by ranking fifth in the nation in terms of relocations from other cities. Despite construction in recent years, demand has kept vacancies below ten percent in the market,” said Scott Maddux, President of Sunstone Two Tree. “Workforce rental housing appeals to the largest segment of today’s renter market and has proven to be extremely resilient, even during periods of economic uncertainty. We’re pleased to continue our work in Houston to bring high-quality, comfortable, safe and attainable housing to the area.”
The Villas Del Paseo community was built in 1978 and has received few improvements over the years. Sunstone Two Tree will manage a top-to-bottom upgrade of the asset, renovating the interiors of all 384 units with high-quality flooring, hard-surface counters, updated lighting, stainless steel appliances and new cabinetry. On the exterior, it will invest in new paint, do a full roof replacement, add/enhance exterior lighting, improve the landscaping and signage, and repair the balconies and parking lot. It will also update the clubhouse and pool and add dog parks and barbeque areas. The renovations will take place in two phases. The first will include the 144 units east of Elmside Drive, with the remaining 240 being completed in phase two.
Villas Del Paseo is well-positioned to serve the workforce housing community in Houston. It is conveniently located in Westchase, 13 miles from Downton Houston and 20 miles from the William P. Hobby Airport. It is 9 miles from the Energy Corridor, 4 miles from the Memorial City Mall and 3.5 Miles from the Memorial Hermann Hospital. It is also close to the headquarters of several major employers in the area.
Sunstone Two Tree purchased Villas Del Paseo from Comunidad Partners, which has managed the property since 2019. Matt Saunders with Newmark represented the seller. In addition to the Villas del Paseo community, Sunstone Two Tree owns Commons at Westchase, a 282-unit property located 1.3 miles west of Villas Del Paseo, on which it executed a value-add business plan. The company also acquired Village at Westchase, a 462-unit value-add property in 2016, which it sold in April 2022.
Sunstone Two Tree is an acquirer, developer and operator of attainable rental housing communities in high growth markets across the United States. Since its inception in 2012, it has acquired or developed thousands of rental units across the country.

NEW ORLEANS, LA – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, announced that it has acquired Tivoli Place and will carry out an extensive rehabilitation of the property. This a milestone transaction for the company, as it is LAC’s first rehabilitation using Historic Tax Credits and its first within the state of Louisiana. As a part of the renovation, LAC will invest more than $35 million to upgrade the century-old building, preserving its historic structure and ensuring it remains designated senior affordable housing.
Built in 1917, Tivoli Place sits on historic St. Charles Avenue within the Warehouse District. The neighborhood is home to landmarks including the former city hall, the world’s oldest continually operating streetcar line, the Mississippi River and Caesar’s Superdome.
“LAC is honored to grow our affordable housing portfolio through the acquisition of such a historically significant property,” said LAC CEO Jeremy Bronfman. “As rent pressure remains high in New Orleans, this historic rehabilitation will preserve access to affordable senior housing while enhancing the Tivoli Place community and providing important new services for residents.”
Tivoli Place provides 163 units of affordable housing for seniors earning no more than 20-60% of the Area Media Income. Further, the property’s 8 total 20% AMI units are set aside for Special Needs Households. The development is further covered by a federally subsidized Housing Assistance Payment contract that has been renewed for an additional 20 years in conjunction with the rehabilitation, further preserving the project’s affordability. This transaction will protect the much-needed affordable apartments in the Warehouse District, which is part of the City’s Inclusionary Housing Zone designated as a high-cost-of-living area.
LAC will install new central heating and cooling, replace old plumbing, upgrade finishes, and raise ceiling heights in each unit. New community amenities will include a media room, library, fitness center, dining room, bike storage, security upgrades, and health care exam room. LAC will also improve the property’s sustainability and resilience by installing new fixtures to reduce the property’s water and power consumption as well as rooftop solar panels and structured solar in the parking lots to offset electricity usage.
Residents will have on-site access to preventative health care screenings, exercise classes, mentoring programs, transportation, disability counseling, and other social programs.
“LAC is proud to close on our first Historic Tax Credit rehabilitation and to help preserve and enhance this historic property,” said David Garcia, LAC Vice President & Project Partner. “Our renovations will ensure that Tivoli Place provides high-quality, attainable, and resilient homes for generations of New Orleans residents.”
The deal was financed through Low Income Housing Tax Credit equity from Boston Financial syndicating to Capital One; federal and state Historic Tax Credits, in partnership with JP Morgan Chase and Stonehenge, respectively; tax-exempt bonds by the Louisiana Housing Corporation; a HUD 221(d)4 loan serviced by Capital One; an equity bridge loan from Huntington National Bank; a PILOT agreement with Finance New Orleans; and solar tax credit equity being syndicated by Boston Financial.
“Boston Financial is proud to have partnered with Lincoln Avenue Communities, Capital One, Huntington Bank, Finance New Orleans, and the Louisiana Housing Corporation on Tivoli Place,” said Roy Faerber, Senior Managing Director at Boston Financial. “We are excited to see the impact this project will make to the community, helping to preserve 163 affordable homes as well as rehabilitate a remarkable historic building in the heart of the New Orleans’ Lafayette Square Historic District. Boston Financial’s vision is to create a future where everyone has a home, one investment at a time, and Tivoli Place is a shining example of that belief in action.”
“Affordable housing preservation and creation is greatly needed in New Orleans and across Louisiana, and the rehabilitation of Tivoli Place underscores Capital One’s commitment to helping solve the affordable housing gap at scale,” said Dan Miller, Capital Officer for Community Finance at Capital One. “We are proud to work alongside Lincoln Avenue Communities as the low income housing tax credit equity investor and originator of the HUD 221(d)(4) mortgage that will finance unit upgrades and add resident amenities, including digital and healthcare access.”

ATLANTA, GA – ECI Group (ECI), with joint venture partner, The Griffin Fund, has started construction on The Averly Collins Hill, a $76 million, eight-building, 300-unit, Class A apartment development on 22 acres at 700 Collins Road in Lawrenceville, GA. ECI Construction is the general contractor and construction financing was provided by Synovus.
The three-story, garden-style residences will complement a planned 55+ active adult housing and a commercial component to be developed by others in the Lawrenceville Gateway development. The Averly Collins Hill will deliver concurrently with the nearby 15-story Northside Hospital Gwinnett tower that is bringing 3,000-5,000 jobs to its location.
“ECI is excited to partner once again with The Griffin Fund to build premier housing near downtown Lawrenceville,” said ECI Vice President of Development, Stephen Stover. “We very much appreciate the collaboration and support we received from the City of Lawrenceville, particularly Mayor David Still, City Manager Chuck Warbington, and Planning and Development Director, Todd Hargrave. With their perspective and vision, The Averly Collins Hill will provide residents coming to the City for its jobs, amenities, schools, and resources with convenient and quality housing in a mixed-use neighborhood.”
The $46 million construction loan provided by Synovus comes amidst a challenging financing environment. Seth Greenberg, ECI Group CEO, added, “We are particularly appreciative of the confidence that Synovus demonstrated in this well-located and thoughtfully conceived development, providing ECI with the construction financing needed to start this project immediately and in the best window for delivery.”
The Averly Collins Hill is located adjacent to University Parkway (SR-316) and Collins Hill Road and within walking distance of an existing Walmart Supercenter-anchored shopping center. Major local employers include Northside Hospital Gwinnett, Georgia Gwinnett College, and the 2,000-acre Rowan technology and research project.

HOUSTON, TX – Venterra Realty recently acquired the Cendana District West community located in Richmond, Texas. The 349-unit four-story mid-rise multifamily community was built in 2023 and offers modern one, two, and three-bedroom residences that range from 592 – 1542 square feet in 11 unique floor plans.
The apartments feature high-end interior finishes, like Granite Countertops, Stainless Steel Appliances, Garden Tubs, Walk-In Showers, Washers and Dryers, and Oversized Closets. Some apartments offer a kitchen island and double-sink vanities.
The property provides renters with the largest pool in the area, two resident lounges, co-working and or micro office spaces, 24/7 fitness center and yoga studio, media room, dog park and pet spa.
Well located in the fast-growing Richmond area of Fort Bend County in southwest Houston, just a short distance from the Westpark Tollway and the Grand Parkway, the area offers easy access to many of the major employers in Houston. Venterra also currently owns The Retreat, in the same neighborhood about 2 miles from Cendana.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee., the 48-Hour Maintenance Guarantee, and SMARTLEASING.
“We have seen excellent growth in the Houston area and are excited to expand our Texas portfolio with the addition of the amenity-rich luxury property Cendana District West,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further enhance the standard of living at Cendana District West by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

FORT MYERS, FL -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, has officially broken ground on The Riley, a 275-residence, market-rate multifamily community located in Fort Myers, Florida.
We re excited to bring this latest development to the Fort Myers and Lee County area which has experienced incredible growth, said Kurt Kehoe, Senior Vice President of Florida Development. The Riley is a testament to NRP s commitment to providing the highest quality communities and our belief in the future and continued expansion of Southwest Florida.
The community comprises three four-story buildings, each offering unique features to cater to a diverse resident base. Building one will serve as the main gathering area for residents, housing the integrated clubhouse and most of the property s lifestyle amenities, while building two features a courtyard with public greenspace and comfortable sitting and lounging areas. Building three provides panoramic views of the nearby conservation area, Estero Bay Preserve State Park, for a nature-infused living experience.
The Riley features a best-in-class amenity package, including a resort-style pool with outdoor grilling areas and pizza oven, as well as an integrated clubhouse with a media room, business center and conference pods. Other highlights include a state-of-the-art fitness center, an on-site dog park with a smart pet wash station, and package concierge lockers.
The residences boast contemporary finishes, soft-closing cabinets, LED-lit mirrors with frames, modern lighting fixtures and luxury kitchens with quartz countertops and upgraded stainless steel appliances. Floor plans are varied, featuring one, two and three-bedroom apartments, ranging from 655 to 1537 square feet. Pricing is expected to start at the low $1600 s.
Strategically located at the intersection of Highway 41 and San Carlos Blvd, The Riley provides convenient access to major job markets in Fort Myers and Bonita Springs, with proximity to Interstate 75 and Highway 41.
The Riley is expected to be completed in late 2025.

RICHMOND, VA – Jones Street Investment Partners, a private equity real estate firm focused on multifamily assets located throughout the Northeast and Mid-Atlantic regions of the U.S., announced its expansion in Virginia with the acquisition of Summit at Bon Air, a 296-unit multifamily community located at 1701 Irondale Road in the Richmond suburb of Bon Air, from Capital Square, one of the nation s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities.
Summit at Bon Air features a mix of one-, two- and three-bedroom units across 37 two-story buildings spanning a total of approximately 28 acres, as well as 550 parking spaces. The garden-style community is ideally situated within walking distance of numerous retail and restaurant options, including Chesterfield Towne Center Shopping Mall and Huguenot Village Shopping Center, and is located just off Route 60, providing an easy 22-minute drive to downtown Richmond, one of the fastest growing job markets in Virginia, according to InsideNOVA. Summit at Bon Air boasts luxury amenities including a resident lounge, business center, dog park, newly upgraded fitness center, swimming pool with a sun deck, and a playground.
We are excited to add another ideally located Richmond-area asset to our portfolio with the acquisition of Summit at Bon Air, said Matt Frazier, founder and COE of Jones Street. Coming on the heels of our recent entry into the Richmond market with the purchase of Courthouse Green Townhomes, Summit at Bon Air exhibits the same strong criteria we look for when evaluating investment opportunities, including a growing population, a strong job market, top schools, and family-friendly activities and amenities. We look forward to leveraging our operational expertise to provide a best-in-class living experience to the community and create value for our investors.
The majority of the Property s units have recently undergone numerous renovations to provide units with premium finishes including new cabinets, a backsplash, high-end laminate countertops, and a tech package. Jones Street plans to upgrade the remaining 77 units to provide an enhanced living experience. Improvements have also been made to the property s amenities, including renovations to the parking lot, fencing, grilling stations, landscape enhancements, and signage.
Summit at Bon Air Chesterfield County, which has experienced strong population growth over the last decade at an average of 9.8% as Fortune 500 companies have expanded their local presence, including LEGO, CoStar, Capital One, Altria, CarMax, and Dominion Energy. Bon Air has an A+ rating from Niche.com as well as an A rating in the Good for Families category.

AVENTURA, FL – Belmont Village Senior Living, a leading developer, owner and operator of senior living communities, announced the groundbreaking of its newest community, Belmont Village Aventura. Located at 3510 Yacht Club Way, the luxury project is created in partnership with Turnberry, one of the nation s leading developers of design-driven, amenity-rich residential, hospitality and mixed-use projects. It will be Belmont s third location in South Florida and is expected to open in early 2026.
“Belmont Village Aventura marks a pivotal moment in our mission to redefine senior living, providing an ideal location surrounded by world-class amenities, said Patricia Will, CEO and Founder of Belmont Village Senior Living. Our partnership with Turnberry will enhance the living experience of our residents, creating built-to-purpose spaces where seniors can enjoy comfort, security and the highest standards of care as they age. Our vision is deeply rooted in our commitment to enhancing the well-being of older adults. We are eagerly anticipating the positive impact it will have on the greater Aventura community.”
This venture is Turnberry s first collaboration with Belmont Village Senior Living. Spanning an impressive almost 180,000 square feet, Belmont Village Aventura will feature timeless contemporary architecture, comprising stucco, tile and stone. Throughout the interior will be high end finishes, including luxury wall coverings, custom decorative flooring inlays, a suspended art installation, coffered ceilings, and indoor/outdoor flexibility. The 11-story community will offer Independent Living, Assisted living and Memory Care, and host 153 apartments in a variety of studio, one-bedroom and two-bedroom floorplans. Resident apartments feature stone counters and islands with waterfall edges, stainless steel appliances, elegant flooring and walk-in closets. Many of the units offer private balconies and exclusive penthouse units are available on the 10th and 11th floor.
We chose to partner with Belmont Village because of its unmatched expertise and leadership in luxury senior living, said Jackie Soffer, Chairman and CEO of Turnberry. Our philosophy of placemaking with principles means every project is undertaken with incredible attention to detail and an expectation of excellence. Belmont Village shares those standards and has skills and experience that complement ours. The location of Belmont Village Aventura means residents and their families can enjoy the best of what South Florida has on offer, setting a new standard of luxury senior living. We are thrilled to partner with Belmont Village to offer an unmatched luxury option in senior care.
Belmont Village Aventura residents will enjoy panoramic views of the Atlantic Ocean, Intracoastal Waterway and Dumfoundling Bay. Amenities include an elegant fine-dining restaurant, a full-service bistro and rooftop bar, personal temperature-controlled wine storage with semi-private dining, a fitness center, and an outdoor terrace overlooking the water. Other amenities include a wellness center, screening room, art studio, hair and nail salon, sports lounge, library, and a resort-style pool.
Working in collaboration with Belmont Village, Coral Gables (Fla.)-based Corwil Architects is the lead architect and Moss Construction Management is the construction partner, ensuring Belmont Village Senior Living Aventura becomes a well-crafted, built-to-purpose community dedicated to enhancing the lifestyle of its senior residents. The same team recently completed Belmont Village Senior Living Coral Gables.

STAUNTON, VA – Lloyd Jones, a real estate investment firm headquartered in Dallas, Texas, announced the acquisition of Brightview Baldwin Park, a 136-unit independent living, assisted living, and memory care community in Staunton, Virginia. This marks Lloyd Jones’ first senior housing acquisition this year. The property was purchased from Brightview Senior Living and will operate under the Lloyd Jones proprietary Aviva brand as AVIVA Baldwin Park.
Originally built in 1987 and subsequently refurbished in 2003, AVIVA Baldwin Park includes two separate three-story structures on a sprawling fifteen-acre estate. The southern building houses 85 independent living units, and the northern building accommodates the remaining 51 assisted living and memory care units. Property amenities include a well-stocked library, beauty and barber shop, community fireplace, and updated fitness center. The property features an expansive courtyard where residents can enjoy an outdoor trail with picturesque views of the Blue Ridge Mountains and Shenandoah Valley.
“This is a beautiful property in a beautiful area of Virginia. We hope to continue to serve the surrounding communities with exceptional senior living. To expand the excellent reputation of Baldwin Park, we have an experienced and loving on-site team in place, backed by the full resources of both AVIVA Senior Living and Lloyd Jones,” says Christopher Finlay, Chairman and CEO of Lloyd Jones.
With a $3.1M capital renovation budget, the Lloyd Jones team plans to focus on significant upgrades to the northern building to match the recently updated southern building. The team also aims to introduce its signature technology package that includes keyless door locks, resident safety pendants, and new property camera systems to enhance the security of the residents.
The Lloyd Jones partner in this investment is SP Venture Partners, a real estate investment firm that focuses on making tax-efficient Co-GP investments alongside seasoned operating partners in multifamily and senior housing. Its founders have a proven track record of investing and managing $125 million of equity across $1.5 billion of real estate. This experience has given SP Venture Partners the ability to formulate and implement a comprehensive due diligence process on the operating partners it invests alongside. Peter Powers, co-founder of SP Venture Partners adds “My partner, Sean, and I both grew up with families that owned businesses that served seniors and have seen the increased need to provide senior housing that allows seniors to continue living fulfilling lives.”

PHOENIX, AZ – GTIS Partners, a global real estate investment firm managing $4.5 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, and Clyde Capital, a vertically integrated commercial real estate investment and development company, announced the development of a $250 million mixed-use, master-planned community in Surprise, Arizona, which is located within the Phoenix MSA. The project will include a build-to-rent community, retail space and a medical facility, and will be built across 90 acres of land acquired by GTIS and Clyde.
In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Forty-five acres will be allocated to a joint venture between Clyde and Simon CRE, a national commercial real estate acquisition and development company, to establish a multi-phase retail center. GTIS will retain the 25-acre balance of the site for a build-to-rent development.
GTIS and Clyde initially pursued the property in April 2021 and took the project through a rezoning and site planning approval as it secured entitlements. The site is 40 miles from Downtown Phoenix, located along North 163rd Avenue and bound by U.S. Highway 60 and Pat Tillman Boulevard. It sits directly across from a 175,000 square foot Fry’s-anchored retail center, is conveniently located to many of the area’s top employers, and is about one mile from a Loop 303 interchange, providing easy access to the 303 industrial corridor. The site is also 20 miles from Taiwan Semiconductor Manufacturing Corporation’s plant, one of the largest foreign investments in U.S. history and the largest ever in the state of Arizona.
The GTIS-owned residential parcel at Asante Trails is approved for a build-to-rent community called Tavalo at Asante. Tavalo at Asante will offer 282 single-story homes (duplexes and detached) ranging from one to three-bedrooms with a gated entry, on-site leasing center, resident lounge, resort-style pool, dog parks and a central park, all contiguous and walkable to the masterplan’s future neighborhood retail center.
Clyde and Simon CRE’s Phase I of the commercial portion of Asante Trails will consist of a 12- acre retail center at the southwest corner of Pat Tillman and 163rd Avenue, providing a mix of neighborhood entertainment and services.
HonorHealth, a locally governed and operated non-profit healthcare provider, is committed to the responsible development of healthcare services that increase access to world-class care for the community. Rick Murdock, Vice President of Strategic Planning, commented, “With the purchase of 20 acres, HonorHealth is excited for the opportunity to align healthcare services with community needs while partnering with the City of Surprise to improve the health and well-being of those we serve for decades to come.”
Rob Vahradian, Partner & Head of U.S. Investments at GTIS, said, “We are excited about delivering more housing and employment options to the region. This site is strategically located in the rapidly growing Surprise submarket of Phoenix, which is currently undersupplied with rental housing options yet is adjacent to the Loop 303 industrial corridor, Phoenix’s fastest growing job market.”
“We would like to thank the City of Surprise’s Planning Department, City Council, City Manager and Economic Development Director for their leadership and counsel as we navigated through the project’s entitlement process. This acquisition represents a great opportunity for the residents of Surprise to get the commercial services and quality rental housing they need in response to the city’s rapid growth. Asante Trails will be an important part of Surprise’s future and we look forward to being a part of it,” said Theodore Karatz, Managing Director, U.S. Acquisitions and Head of Build to Rent Acquisitions at GTIS.
Jim Stockwell, President at Clyde Capital, commented, “The Phoenix MSA has experienced steady growth over the past five years and continues to face an unprecedented shortage of housing at all price points in every submarket. Asante Trails will be a beautiful master-planned community for the Northwest Surprise neighborhood offering best-in-class healthcare, shopping, dining and housing opportunities, all in a walkable and integrated setting.”