DENVER, CO – MG Properties, a leading real estate investment and management company, has completed the acquisition of Bear Valley Park Apartments, a premier garden-style community located in Denver, Colorado for a total purchase price of $76 million. The closing marks MGP’s third multifamily acquisition of 2023 in the Denver area.
Situated in Southwest Denver on the border of Lakewood, the well-established residential community offers residents a high-quality suburban living experience with convenient access to employment centers throughout the metro area, including the Southeast Business Corridor and Downtown Denver, both within a 25-minute drive. Bear Valley Park boasts a desirable range of modern amenities and large renovated floorplans and is within walking distance to a variety of retailers, eateries, and outdoor recreation.
“This investment reflects our confidence in Denver’s economic growth potential and allows us to further leverage the efficiency of our regional operations there,” said Jeff Gleiberman, President of MG Properties. “As a stabilized property in a high-quality submarket, Bear Valley Park is an excellent fit for our long-term investment strategy.”
The seller, Jackson Square Properties, was represented by Jordan Robbins and Alex Possick with JLL Capital Markets. Financing for the transaction was provided by Fannie Mae and arranged by Charles Halladay, Rick Salinas, Brandon Smith, and Annie Rice with JLL Capital Markets.

DALLAS, TX – Stoneweg U.S, a real estate investment and development firm focused on ESG optimization in the workforce housing sector, and with a growing portfolio valued at $2.1 Billion AUM, announced the acquisition of Prose Frontier, soon to be rebranded as Prosper Crossings. This 324-unit core plus multifamily asset aligns perfectly with Stoneweg US’ commitment to driving impactful, responsible investments and fostering sustainable communities.
Developed by Alliance Residential and Carlyle, Prosper Crossings spans approximately 15 acres and features 10, three-story residential buildings alongside a state-of-the-art clubhouse and leasing office. The asset offers a balanced mix of 1- and 2-bedroom units, positioning it as an attainable living community that aligns with the workforce housing sector lifestyle.
“This development exemplifies Carlyle’s approach to the rental housing sector, focusing on demographically driven demand opportunities that offer an attractive value proposition relative to home ownership,” stated Ashley Fitzgerald, Principal at Carlyle.
Strategically situated in Collin County, Texas, a high-growth area within the Dallas MSA, Prosper Crossings serves a rapidly expanding population that has nearly doubled from 47,000 in 2020 to 85,000 in 2023. This demographic surge is accompanied by top-tier educational systems like the Prosper Independent School District and strong income levels, making it the ideal location for a responsible investment.
Garrett Pisarik, Director of Acquisitions at Stoneweg US, said, “Closing this acquisition, especially in these challenging times, is a testament to the hard work and commitment of our team and partners. Prosper Crossings not only offers excellent investment potential but also serves as a platform for our ongoing ESG initiatives.”
As part of Stoneweg US’ strategic commitment to ESG, Prosper Crossings will see the incorporation of several environmentally conscious improvements including the installation of EV charging stations, and a solar array panel on the leasing office/clubhouse, to minimize the property’s carbon footprint. Socially responsible amenities like expanded pool areas and updated dog parks also contribute to the overall well-being of the community.
“As we grow our portfolio, ESG considerations are at the forefront of every investment decision we make,” said Garrett Pisarik. “Prosper Crossings will serve as another example of how real estate investment and sustainability can—and should—go hand in hand.”

PHOENIX, AZ – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, and Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced that they have broken ground on a new build-for-rent community in Glendale, Arizona.
The 29-acre lot in the Phoenix suburb will become Ironwood Homes at Rosefield and feature 320 single-family rental homes and plenty of amenities. The new build-for-rent community promises to combine many of the benefits of single-family living – larger units, dedicated parking and private yards – with the advantages and convenience of renting. The property is projected to open later summer 2025.
“Capital Square is pleased to break ground on the development of a single-family rental community in Glendale,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This Southwestern market is a job engine with record-setting rent growth in recent years and a shortage of single-family homes.”
Development of the project is being primarily funded with proceeds from Capital Square Glendale BFR, LLC, a project-specific limited liability company that is currently raising approximately $49 million in equity from accredited investors.
The partnership closed on the lot at the southeast corner of Northern Parkway and N. Sarival Avenue in September 2023. The 320-unit community will include 102 detached single-family homes, averaging 1,655 square feet, and 218 townhomes averaging 1,257 square feet. Each home will be well-designed, with two stories, direct garage access and a private yard. The community will boast amenities including a pool, spa, fitness center, parks, BBQs, gated entry and sports courts. The lot is conveniently located, with easy access to downtown Phoenix, Sky Harbor Airport, freeways, shopping centers, schools and employers. It is also in close proximity to the dining, retail and entertainment options at The Village at Prasada, a recently opened outdoor shopping center, and Desert Diamond Casino, which is currently under construction.
“Given today’s challenging capital markets environment, we are especially pleased to close on this well-located property and begin construction within such a short amount of time,” said Scott Maddux, president of Sunstone Two Tree. “High interest rates are making it one of the worst times for consumers to buy a home, so we believe our unique rental product will provide an attractive value proposition to future tenants. With a proven track record in real estate ventures, Capital Square is an important partner of ours and we are pleased to collaborate with them to bring this much needed, best-in-class rental housing to Phoenix.”
“Greater Phoenix, the tenth largest metropolitan area in the nation, has experienced a shortage of high-quality single-family rental options due to significant population growth that has far exceeded the pace of housing development in recent years,” said Whitson Huffman, co-chief executive officer. “Glendale BFR provides investors an attractive opportunity to expand their portfolio into a high-growth Southwest market with an experienced team of developers, while also working to alleviate the single-family rental housing shortage.”

ST LOUIS, MO – In a significant move strengthening the thriving real estate landscape of St. Louis, Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S. has completed the acquisition of Cortona at Forest Park, a 278-unit Class-A apartment community. Positioned in the heart of St. Louis, this property boasts an unparalleled location adjacent to the iconic Forest Park, downtown Clayton, and the vibrant Central West End. This acquisition marks a significant milestone for both the local real estate market and the overall growth and development of St. Louis, further reinforcing its status as a dynamic city with abundant opportunities.
Cortona at Forest Park is a highly sought-after live/work/play destination, offering residents an enjoyable lifestyle that includes convenient access to the cultural and recreational treasures of Forest Park and the Central West End. This best-in-class development, known for its top-tier amenities, and has demonstrated remarkable property performance and development success, characterized by strong occupancy rates and resident retention. The property is at 93% occupancy.
Passco Companies navigated the acquisition successfully, adding Cortona at Forest Park as a strategic addition to its diverse portfolio. The seamless transition was facilitated by the seller, Invesco Real Estate, a global real estate investment manager, and brokered by Kevin Girard, Mark Stern, and Zach Kaufman of JLL Capital Markets. JLL’s industry expertise and deep roots in the St. Louis market played a pivotal role in ensuring the success of this transaction. Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Companies.
“Passco is thrilled to add another property in the Midwest to our portfolio. We’ve done well in St. Louis and look to continue that trend with Cortona at Forest Park and its exceptional submarket fundamentals. The property’s location at the southern edge of the city’s famed Forest Park, bookended by Barnes-Jewish Hospital and Washington University in St. Louis, is unmatched in the city.” Explains Gary Goodman, Senior Vice President of Acquisitions for Passco Companies. St. Louis is an economic powerhouse with a $173+ billion economy driven by major industries. These industries not only provide stability to the region but also create an array of employment opportunities.
Within the local submarket lies the Cortex Innovation Community, which is located within a 10-minute drive from Cortona at Forest Park. Positioned at the heart of St. Louis between the Central West End and the Forest Park Southeast Neighborhoods, the Cortex Innovation Community generates thousands of jobs and new tax revenue for the city. This community is poised to become a leading innovation district across the United States, fostering technology-related startups, corporate research and development teams, manufacturers, nonprofit organizations, and a rich ecosystem of innovators.
Located at 5800 Highlands Plaza Drive in St. Louis, Missouri, Cortona at Forest Park is a 278-unit mid-rise apartment building completed in 2014. The property is comprised of one 5-story residential building situated on approximately 4.79 acres, offering a diverse mix of studio, 1, and 2-bedroom units. Residents of Cortona will experience convenient and modern amenities, including a three-tiered courtyard pool with cabanas; 24-hour fully equipped fitness center with on-site fitness classes; and even an on-site dog park and self-service pet spa.

STEAMBOAT SPRINGS, CO – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced the completion of construction of phase one for Steamboat Basecamp, a 75-unit mixed-use multifamily property in Steamboat Springs, Colorado. The project is being developed in conjunction with May Riegler Properties, a full-service real estate development and asset management firm.
Phase one consists of 75 for-rent apartment units and 8,343 square feet of leasable ground floor retail space, demised into four spaces. As of Nov. 13, 2023, 80% of the phase one apartment units have been leased, with initial move-ins scheduled to begin by the end of November. Leases for three of the retail spaces are anticipated to be signed shortly, bringing exciting resident amenities to the development.
“Capital Square is pleased to report this major milestone in the development of Steamboat Basecamp with the completion of phase one and the initial lease-up of apartments,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Located at 1901 and 1950 Curve Plaza in the rapidly growing neighborhood of West Steamboat, just off Highway 40 and less than two miles from downtown Steamboat Springs, Steamboat Basecamp will also ultimately include 27 townhomes available for purchase. The property includes numerous community amenities, such as a ground floor lobby with space for coworking, ski gear repair area, rooftop lounge, and outdoor rooftop area with grilling stations.
Nestled in the Rocky Mountains approximately 150 miles northwest of Denver, Steamboat Springs is a popular year-round tourist destination often referred to as “Ski Town USA” for its excellent skiing and snowboarding opportunities. This stunning area also has geothermal hot springs, zip lining, rafting, and many other outdoor activities enjoyed by residents and more than 500,000 visitors annually. The rustic city was founded in 1900, making it rich in history that focuses on miners, ranchers, and the Native American Ute tribe. The popular Steamboat Ski Resort, which is in the midst of a $200 million expansion that will make it the second largest ski resort in the state, is just four miles from the development.
“Steamboat Springs is an ideal area for those seeking a live-work-play lifestyle, yet it suffers from a chronic undersupply of quality housing, which Steamboat Basecamp will help alleviate,” said Whitson Huffman, co-chief executive officer. “Capital Square seeks to identify underserved locales like Steamboat Springs, where we can improve a community while providing a compelling opportunity for the investors and financial advisors we serve.”

MANCHESTER, NH – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the future site of The Residences at Chestnut, an affordable housing development in Manchester, during a ceremony with community leaders and financing partners.
“Lincoln Avenue Communities is committed to building high-quality, resilient properties that create long-term access to affordable housing in communities across the country,” said Thom Amdur, LAC Senior Vice President, Policy and Impact. “The Residences at Chestnut represents our first ground-up development in New Hampshire, and we’re grateful to our public and private partners who helped make this deal possible.”
The 142-unit property represents LAC’s first new construction deal in New Hampshire, which is facing a statewide affordable housing crisis. The Residences at Chestnut will include two apartment buildings, with 106 combined units restricted to households earning less than 60 percent of the area median income (AMI); 36 units will receive project-based vouchers, with 30 of those units set aside for veterans and their families.
“This development will add 142 units of much-needed affordable housing in Manchester, where high-quality homes remain out of reach for many residents,” said Scott Shaw, LAC Vice President & Regional Project Partner. “We’re especially proud to support veterans and their families who face unique barriers to finding attainable housing.”
Construction of The Residences is expected to finish in 2025. The property will include an underbuilding parking garage, roof deck, fitness center, bike storage and other community amenities.
The groundbreaking ceremony featured remarks from Manchester Mayor Joyce Craig and representatives from the New Hampshire Housing Finance Authority, Families in Transition, Manchester VA Medical Center and the offices of New Hampshire’s congressional delegation, among others. Following remarks, LAC formally broke ground on a section of the property to mark the beginning of construction.

MCDONOUGH, GA – Vista Residential Partners, a national multifamily development firm, has broken ground on Phase I of a two-phase mixed-use development, Oak Grove Vista. The development is a joint venture between Atlantic American Partners, Township Capital, and Vista Residential Partners, with financing provided by Trustmark Bank and First National Bank.
Located in the burgeoning suburban enclave of McDonough, Georgia, Phase I of Oak Grove Vista will include 302 multifamily units defined by a low-density residential community feel with a central amenity area including a pool, gym, and club room.
The entirety of the mixed-use development will include 348 multifamily units and 40,000 square feet of commercial space along Jonesboro Road. Phase I of Oak Grove Vista will be a defining luxury asset in McDonough complemented by nearby commercial space and servicing pent-up residential demand.
The Property’s strategic location off of I-75 will connect future residents to 53M SF of prime logistics and E-commerce centers, over 400,000 jobs along I-75 North, Hartsfield-Jackson International Airport, Henry County’s growing healthcare industry, and the CBD job centers of Midtown and Downtown Atlanta. McDonough is rapidly becoming a major hub for logistics and e-commerce, with over 75,000 jobs in these industries in the immediate area. This growth is indicative of the city’s strategic location and its commitment to supporting next-generation industries. McDonough’s logistical infrastructure is essential to the Atlanta metro area, and it is poised to play an even greater role in the decades to come.
“We are excited to expand our presence within McDonough,” said Chase Beasley, Managing Director for Vista, said in the release. “This is our second community in this burgeoning pocket of Henry County, and we have strategically aligned our homes and amenities to provide a superior living experience in a location providing all of life’s comforts within close proximity to downtown Atlanta.”
Major economic and population growth in McDonough has been met with minimal new multifamily developments. The Property’s frontage along Jonesboro Road will be further accented by an adjacent retail development Which is to include a national coffee concept, RaceTrac gas station and additional restaurant concepts.
“Henry County continues to see very strong population and job growth. Oak Grove Vista is designed to meet the growing demand for housing in this region,” said Michael Neyhart, Chief Investment Officer for Vista Residential Partners. “We are excited to embark on a new relationship with the teams at Atlantic American Partners and Township Capital and are grateful for the trust they have placed in Vista”.
The community will offer a mix of one-, two-, and three-bedroom apartment homes averaging 1,000 square feet, along with 8 carriage homes providing direct access garages. Designed by architect Niles Bolton, the garden-style apartments will feature stainless steel appliances, 9-foot ceilings, vinyl plank flooring, in-unit washers and dryers, and dining-size kitchen islands. Oak Grove Vista will also feature a luxury clubhouse, resort-style pool, co-working space, fitness center, a large pet park, 24/7 package concierge, and 40,000 SF of walkable retail and restaurants.

HOUSTON, TX – National multifamily real estate development leader Wood Partners announced the grand opening of its newest luxury residential community, Alta Cypress Springs. Nestled between the flourishing areas of Katy and Cypress, Texas, suburbs of Houston, the community officially started welcoming residents in October, and leasing activities are in full swing.
Situated south of FM 529 on Fry Road, Alta Cypress Springs provides an ideal residential haven northwest of Downtown Houston, offering quick access to major routes, such as the Grand Parkway, US 290, and I-10. With the community’s prime location, residents can indulge in a diverse array of nearby retail, dining, and entertainment experiences including multiple grocery-anchored shopping centers, Katy Mills Mall, La Centerra, and Towne Lake Boardwalk.
Nature enthusiasts will appreciate Alta Cypress Springs’ proximity to George Bush Park, Bear Creek Pioneers Park, and Mason Creek Hike and Bike Trail, each offering picturesque walking, running, biking trails, and recreational spaces. The community is zoned to the acclaimed Cypress-Fairbanks Independent School District and is near 11 significant corporate headquarters and key employers, including Toshiba, Shell USA, BP North America, Igloo, Amazon, and Academy Sport + Outdoors. Additionally, Alta Cypress Springs is located minutes away from five major hospital system locations including, Houston Methodist, Memorial Hermann, Texas Children’s, MD Anderson and HCA Healthcare.
“We are pleased to announce the opening of Alta Cypress Springs, a luxury community catering to young professionals and families in the west Houston area,” said Bart Barrett, Managing Director at Wood Partners. “This addition to our Houston portfolio reflects our commitment to creating first class communities in premier locations.”
Crafted by Design Balance, a boutique architectural firm based in Rockwall, Texas, Alta Cypress Springs offers 330 apartment homes featuring a variety of one-, two-, and three-bedroom floorplans. Each residence boasts upscale finishes, including stainless-steel appliances, granite countertops, designer tile backsplashes, 42″ cabinets, full-size washer and dryer sets, and wood-style flooring throughout.
Residents can take advantage of designated parking, including reserved and carport spaces. The property enhances the living experience with an array of Class A amenities, such as a resort-style swimming pool with sundeck and outdoor kitchen, as well as their own dog park. The Clubhouse features a fitness center, clubroom, and a business center complete with a conference room and entertainment spaces. Additionally, cutting-edge audio/visual technology, urban living design, and high-speed internet hotspots in all common areas will ensure seamless connectivity throughout the community.

RIVERSIDE, CA – The REMM Group is pleased to announce that it has been awarded the management contract for Lincoln Village Apartment Community for the second time. The REMM Group successfully oversaw the management of the Riverside luxury apartment community during its 2020 lease-up. The outstanding results achieved during Lincoln Village’s lease-up phase played a pivotal role in the community’s rapid sale just one year after leasing began. Subsequently, management was transferred to another firm, until this summer, when The REMM Group was again selected to resume management.
“We are excited to return to Lincoln Village Apartment Homes and renew our partnership with the residents and stakeholders. Our team is dedicated to providing an exceptional living experience for the residents of this stellar community,” stated Sara D’Elia, CEO at The REMM Group.
D’Elia continued, “Lincoln Village is already responding to our team’s hard work with good reviews, higher occupancy, and an increase in lease renewals.”
Lincoln Village Apartment Homes embody luxury in every facet of their design. The 180 units in the community feature open floor plans, high ceilings and recessed lighting. The quartz countertops, and top-quality stainless-steel appliances make chef-worthy kitchens.
One, two, and three-bedroom apartment homes offer up to 1,200 square feet of space. Two-bedroom townhome units are also available. The Lincoln Village homes are equipped with washers and dryers, smart lock technology, and air conditioning. Amenities include covered carports, garages, or garages with storage. There are even garages with direct unit access.
Lincoln Village’s gated community boasts a spacious two-story clubhouse, a shaded lounge area, resort-style pools, and a dog park. The beautifully landscaped community is a short drive to Riverside’s downtown Historic District. Arlington Heights Sports Park and California Citrus State Historic Park are just steps away. The apartment homes currently lease from $2,105 to $3,486.

HOUSTON, TX – ECI Group announced the sale of The Columns at Westchase apartments at 3354 Rogerdale Road in Houston, TX to Mosaic Residential. The 318-unit community located in the heart of Houston was built in 1999 and acquired by ECI in 2018. Since 2018, ECI has completed major capital expenditures to both interiors, exteriors and community amenities.
“The ECI team is very proud of the repositioning and successful execution of our business plan at The Columns at Westchase, concluding with this successful sale,” said Scott Levitt, Chief Acquisitions Officer at ECI Group. “We look forward to making future investments in Houston and other major markets in Texas. Texas is a dynamic and growing state, and expanding our existing presence there is part of our strategic business plan.”
The Columns at Westchase apartments boast new, high-end lighting, flooring, cabinetry, granite countertops in kitchens and bathrooms, plumbing fixtures, and washers and dryers throughout 100% of the apartments. A number of units feature attached garages and/or carports.
Additionally, renovations were made to the clubhouse and leasing office, pool, fitness center, and BBQ pavilion as well as unit exteriors, roofs, and landscaping. The community is extremely well-located, proximate to Houston employment centers and retail/restaurants.
ECI extends its appreciation to David Mitchell at Newmark for their representation of the seller.