PHOENIX, AZ – 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 it has broken ground on City North Residential Phase II.
“We are excited for our partnership with SofMac Partners and Security Benefit Life Insurance Company on the second phase of the City North project,” said Billy Cundiff, Managing Director, Development, Greystar. “City North allows us to deliver a world-class residential development that is adjacent to office space, dining, entertainment and shopping options, which stimulates the local economy and helps Phoenix continue to grow as a desirable destination.”
City North Residential Phase II will add 348 residences to the 272 that are currently underway in Phase I. Floorplans will be available in one- and two-bedroom layouts that range from 621 sq. ft. to 1,439 sq. ft. The seven-story building will have five residential stories as well as a parking garage, a rooftop amenity deck, relaxing landscaping, and breathtaking mountain views.
The second phase will feature refined boutique hotel-inspired in-home finishes like two toned cabinetry, quartz countertops and designer tile backsplashes. The community will boast a seven-story rooftop amenity deck that features a state-of-the-art fitness center, resort style pool and spa, outdoor cabanas and more. The ground-floor clubhouse and coworking spaces will feature two-story volume and storefront glass that bathes the space in natural light. The surrounding desertscape inspired the design of the exterior architecture and landscaping.
City North Residential Phase II, which is situated within the City North master plan, includes walking access to retail, restaurants, coffee shops, fitness studios and more along High Street with additional retail and restaurants. The community is also in close proximity to major existing and future employment uses including Mayo Clinic, Discount Tire, Republic Services and American Express.
Preleasing for the community is slated to begin in late 2025 with final completion planned for the second quarter of 2026. Lawrence Lake Interiors is overseeing the interior design, the architecture firm is Architects Orange and ABLA is the landscape architect. City North Residential Phase II is developed together with our equity partner SofMac Partners and lender Security Benefit Life Insurance Company.

NEW YORK, NY – A joint venture between affiliates of Cantor Fitzgerald, a globally recognized financial services and real estate investment company, and Harbor Group International, a privately owned international real estate investment and management firm announced the acquisition of Avalon Mamaroneck, a 229-unit Class A multifamily community in the Westchester County suburb of Mamaroneck, New York.
“Avalon Mamaroneck offers an attractive, well-located housing option situated in the affluent area of Westchester County’s Gold Coast,” said Yisroel Berg, Chief Investment Officer – Multifamily at HGI. “We are thrilled once again to partner with Cantor Fitzgerald to acquire a high-quality asset.”
“Mamaroneck has many of the desirable attributes we target when acquiring multifamily properties, including a well-educated and high-earning workforce, supply constraints for new construction, and an imbalance between the cost of renting an apartment and home ownership,” shared Matthew Keefer, Head of Multifamily Acquisitions at Cantor Fitzgerald Asset Management.
Avalon Mamaroneck was built in 1999 and renovated in 2018; the property is a premier community offering luxury in unity amenities, including washers and dryers, stainless steel appliances, walk-in closets, and balconies. Avalon’s property amenities include a pool, BBQ stations, resident lounges, a fitness center, and package assistance.
Located approximately 20 miles north of Manhattan, Avalon Mamaroneck is situated within a five-minute walk to the Metro-North Train Station and 0.3 miles from Interstate 95, offering residents unique access to the major employment and cultural hub of New York City. Mamaroneck is located in the prestigious Westchester County, which features some of the top public schools in the country, as well as an amenity-rich downtown area featuring dining, shopping and entertainment.
“With the acquisitions of Avalon Mamaroneck and The Archer in Acworth, located in the greater Atlanta area, along with HGI assuming property management at Summerfield at Morgan Metro in the greater Washington D.C. area, our relationship with HGI continues to grow. We are thrilled to add HGI to our group of first-class operating partners who share our commitment to creating shareholder value,” added Chris Milner, Chief Investment Officer – Real Assets at Cantor Fitzgerald Asset Management.
Newmark’s Bill Weber and Henry Stimler introduced Cantor Fitzgerald and HGI and secured the financing for the acquisition. CBRE represented the seller, AvalonBay Communities, with Jeff Dunne brokering the sale.

RENO, NV – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground this week on the future site of Pinyon Apartments, a development that will provide 252 units of affordable housing for lower-income families in ;Reno.
“Lincoln Avenue Communities is committed to building high-quality, affordable homes in cities like Reno that are experiencing an acute housing crisis,” said LAC CEO Jeremy Bronfman. “We’re proud to begin construction of our first ground-up development in Nevada and to help bolster the state’s affordable housing supply.”
Construction of Pinyon Apartments is expected to finish in 2025. Upon completion, LAC will restrict 244 units for households earning no more than 60 percent of the area median income (AMI) and 8 units for those earning no more than 50 percent of AMI.
“LAC’s investment in downtown Reno will add hundreds of units of sustainable, affordable housing for families and individuals who face elevated housing costs in their community,” said LAC Senior Associate Brian Moloney. “We’re grateful to our financing partners and the state and local leaders who helped make Pinyon Apartments a reality.”
Pinyon Apartments was financed through a combination of Tax Exempt Bonds, 4 percent Low Income Housing Tax Credits (“LIHTC”) and State Tax Credits from the Nevada Housing Division. The LIHTCs were purchased by the National Equity Fund, and the State Tax Credits were syndicated by Stonehenge. Additional financing included construction and permanent loans from Citibank, HOME Funds from the Washoe County HOME Consortium, and a gap loan from the Home Means Nevada Initiative, which was serviced by the Nevada Housing Division and allowed this project to become a reality.

INDIANAPOLIS, IN – Morgan Properties, one of the nation s top three multifamily owners, announced it has acquired Astoria Park Apartments, a 470-unit apartment community located in Indianapolis, IN. With the addition of this community, Morgan Properties expands its Indianapolis portfolio to over 2,500 units.
This strategic addition is a testament to Morgan Properties ongoing commitment to enhancing our portfolio through thoughtful acquisition, said Jonathan Morgan, President of Morgan Properties JV. By investing in newer properties in growing markets, we are not only bolstering our presence but also delivering unparalleled value to our residents. This aligns with our vision to set new standards of excellence through customer service, innovation, operational efficiencies, and capital improvements.
The community is located within the fast-growing and high-income Hendricks County and is proximate to significant high-wage employers and universities. Situated on the west side of Indianapolis near the scenic Eagle Creek Park and Reservoir, Astoria Park Apartments is adjacent to various outdoor activity spaces for sports, cross-country skiing, hiking trails, and more.
The Midwest continues to be one of the most stable and attractive markets for multifamily investment, with steady population growth, affordable cost of living, and business-friendly policies, said Jason Morgan, President of Morgan Properties Special Situations and Principal. Astoria Park Apartments is a strong addition to our rapidly growing Indianapolis portfolio as we remain confident in the long-term outlook across the Midwest region.”
Situated beside beautiful lakes and lush landscaping, Astoria Park Apartments features community amenities such as an outdoor pool and poolside patio, fitness center, tennis courts, a fenced-in playground, dog park and pet washing station, and more. In-unit features include upgraded kitchens and appliances, large closets, and private patios or balconies. To further elevate the living experience for residents, Morgan Properties plans to invest nearly $4 million into renovations, including upgrading unit interiors, expanding amenities, and integrating smart home technology.

DENVER, CO – MG Properties, a leading real estate investment and management firm, recently acquired 4400 Syracuse Apartments, a newly built luxury midrise community located in one of Denver’s most desirable, dynamic, and growing submarkets. This acquisition underscores MG Properties’ commitment to providing top-tier living experiences and expanding its operational presence in the Denver market.
This newly constructed 316-unit property offers modern finishes, functional floorplans, and best-in-class amenity spaces designed to enhance the lifestyle of its residents. Situated in the thriving Denver Tech Center/Southeast Business Corridor, 4400 Syracuse Apartments offers residents access to Colorado’s largest employment hub which supports over 240,000 jobs. The property is strategically accessible to public transportation and major regional thoroughfares, including the adjacent I-25 and I-225 interstates.
“4400 Syracuse Apartments represents an exceptional investment opportunity, priced below its current replacement cost basis,” said Jeff Gleiberman, President of MG Properties. “MG’s long-term investment strategy allows us to continue to acquire high quality assets at an attractive basis, despite today’s challenging capital markets environment.”
The sellers, Morgan Group and LaSalle Investment Management, were represented by Jordan Robbins and Alex Possick with JLL Capital Markets. Financing for the transaction was provided by Freddie Mac and arranged by Charles Halladay, Rick Salinas, Brandon Smith, and Annie Rice with JLL Capital Markets.

MESA, AZ – Toll Brothers the nation s leading builder of luxury homes, through its Toll Brothers Apartment Living rental division, and real estate investment firm Canyon Partners Real Estate, have announced the formation of a new joint venture to develop Navona, a garden-style, 400-unit luxury multifamily rental community in the Phoenix suburb of Mesa, Arizona. The joint venture has secured a $78 million construction loan from Bank OZK. The equity and debt were arranged by Toll Brothers in-house Finance Department. Toll Brothers Apartment Living will manage the development of Navona.
Navona is adjacent to the SR-24 expansion in Mesa, one of the fastest growing submarkets in the Phoenix metro area providing convenient access to main employment corridors. Recent expansions to the area include Intel s Chandler Campus, bringing an estimated 18,000 jobs to the local community. Meta, Amazon, and Apple have also grown their presence in Phoenix, bringing additional job opportunities to the surrounding areas. The community is also well-positioned to benefit from the 400-acre Phoenix Mesa Gateway terminal expansion which includes SkyBridge Arizona.
The garden-style community will offer 400 rental apartments with various floor plan styles across a mix of one-, two- and three-bedroom apartments as well as over 800 parking spaces. The apartment units will feature high-end luxury finishes and a best-in-class amenity package, including pickleball courts, a clubhouse, expansive outdoor space, and an entertainment pavilion with a resort-style pool.
John McCullough, President of Toll Brothers Apartment Living, said, Navona represents Toll Brothers sixth multifamily community development in Arizona, and we look forward to another successful project in the fast-growing Phoenix submarket of Mesa.
Fred Cooper, Senior Vice President, Finance and Investor Relations for Toll Brothers, said, We are thrilled to once again be working with Canyon Partners as our joint venture partner. This is our fourth joint venture with Canyon in projects with total capitalization of nearly $500 million across a variety of markets. It also represents another exciting project that Bank OZK is financing for Toll Brothers-led joint ventures across our condo and rental platforms, and we appreciate their continued partnership.
Canyon has been an active provider of debt and equity in multifamily and continues to invest in real estate projects in primary and secondary markets across the United States. Since its inception, Canyon has invested approximately $2.7 billion in debt and equity to capitalize ~$13.0 billion of total projects across multifamily investments.
Bank OZK is pleased to provide construction financing to Toll Brothers and its joint venture partners on another highly desirable project, said Jason Choulochas, Managing Director, Originations at Bank OZK. Navona offers an unmatched residential living experience that blends outstanding design, contemporary conveniences, and a vibrant sense of community.

ORLANDO, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of Standard441, a new 300-unit multifamily community in the Orlando suburb of Lady Lake. Thompson Thrift plans to begin construction this month and welcome new residents beginning in late 2024.
“Lady Lake is a fast-growing area that shows no signs of slowing down,” said Josh Purvis, managing partner for Thompson Thrift Residential. “The area is expected to nearly double in size by 2040, providing Thompson Thrift the perfect opportunity to develop a high-end multifamily community that will offer residents the ability to live close to work and enjoy the benefits of nearby retail, entertainment and recreation.”
Located off Highway 441 on the northeast side of The Villages master-planned community, the 15.26-acre community will offer one-, two- and three-bedroom apartment homes in three-story buildings. The apartment homes will feature hardwood-style flooring, stainless steel appliances, patio and balcony options, private yard options, upgraded unit options, detached garages and a full-size washer and dryer. Each home will also feature Alexa-compatible smart home packages.
Luxury living will continue throughout the gated community, including a fully equipped fitness center with 24-hour access, resort-style heated swimming pool and outdoor spa, outdoor pool pavilion with a built-in fireplace and grills, pickleball court, dog park and pet spa, 24-hour social hub, work from home focus suites and electric vehicle charging.
The site is across the street from UF Health The Villages Hospital, which is the largest, most comprehensive provider of health care services in the region. Nearby Highway 441, which is the main thoroughfare for The Villages, will provide residents with convenient access to nearly 3 million square feet of retail, dining and entertainment options, as well as other major employers including Arcosa, Ash Grove, Advent Health Ocala and the U.S. Department of Justice.
The Villages MSA was the #1 fastest growing metropolitan area in the U.S. during the past decade and projections indicate that the area has the potential to double in total size in coming years.
This development marks Thompson Thrift’s 12th multifamily community in Florida and brings the company’s total number of multifamily units to 20,000.

FORT LEE, NJ – UNLMTD Real Estate, a leading regional real estate development, investment, and property management company, and FIAT, the iconic global automobile brand, jointly announced their groundbreaking partnership in the creation of FIAT House. FIAT House is an innovative residential property featuring over 300 rental residences with hospitality-driven amenities, tailored concierge services, and unique community events, set to open in early 2024.
FIAT House is situated at the foot of the George Washington Bridge in Fort Lee, New Jersey, just moments away from Manhattan. Nestled at the convergence of eight major highways and offering access to multiple mass-transit and alternative transportation options, FIAT House will provide residents with unmatched accessibility to New Jersey, New York, and the rest of the world. FIAT House will represent the next generation of mobility with an onsite car-sharing fleet of all-electric FIAT 500e vehicles that will provide residents with a fun-to-drive and sustainable mobility solution.
While UNLMTD Real Estate and FIAT are part of two distinct industries, they align on the common vision of the future of urban living, one that seamlessly integrates connectivity, community, sustainability, and style. Combining the global brand strength and mobility solutions of FIAT with UNLMTD’s development and management expertise, this alliance embodies the pursuit of a fulfilling life — La Dolce Vita.
“Collaborating with FIAT on this endeavor forges a unique opportunity to transcend traditional real estate development boundaries,” stated Gabriella LoConte, development lead of UNLMTD Real Estate. “We envision a future where people embrace mobility, live efficiently, and experience life to the fullest. We look forward to bringing that vision to life in a dynamic location, where in a few minutes of time, one can easily bike over the George Washington Bridge to Manhattan or just as easily access unparalleled hiking and walking trails on the Palisade cliffs.”
“FIAT is a love brand around the world and our partnership with UNLMTD has created a very unique opportunity to showcase what FIAT stands for: sustainable mobility with optimistic, forward-looking living,” said Olivier Francois, CEO of FIAT and Global Chief Marketing Officer of Stellantis. “We are thrilled to be at the forefront of this natural collaboration, which is bolstered by the simultaneous Grand Opening of FIAT House and launch of the new FIAT 500e for North America early next year.”
FIAT House will offer a collection of over 300 thoughtfully designed studios, one-bedroom, and two-bedroom rental residences, including a selection of furnished homes. The residences are inspired by the design ethos of the FIAT 500, reflecting its space efficiency and premium finishes. The vibrant FIAT brand will be artfully woven throughout the property, from the attended lobby to the expansive and activated array of amenities and social spaces spanning more than 30,000 square feet. This pioneering property represents the future of real estate, bringing lifestyle, efficiency, community, and mobility to the forefront of residential living.

DALLAS, TX – Alpine Start Development (ASD), a family-owned real estate development and investment firm, introduced Range West, a groundbreaking 261-unit garden-style apartment community located in Saginaw, Texas, on 11 acres, just a short drive North from downtown Fort Worth.
“We are excited to announce our second real estate development this year of Range West in Saginaw. This development will add much-needed density to the area and provide residents access to high-quality amenities and a convenient location. It will be the first of many “Range” branded projects coming to DFW in the coming years. We strive to deliver the best renter experience and pride ourselves on the thoughtful design of our apartments, curated amenity packages, attention to detail, and responsive management of our communities. We look forward to working with the city to bring this project to life,” said David Eitches, Managing Partner of Alpine Start Development.
The project boasts an impressive array of amenities, featuring a resort-style pool, a sprawling courtyard, a well-equipped fitness center, a pickleball court, a dog park, and inviting grilling stations, providing residents with a comprehensive and inviting living experience. Situated on approximately 11 acres in Saginaw, Range West takes advantage of the city’s impressive population and income growth. The development places residents within walking distance of essential amenities, including grocery stores, 20 restaurants, and several schools. Range West meets the surging demand for housing in this supply-constrained submarket, making it a valuable addition to the community.
“This project presented the exciting opportunity to develop rental housing within a fast-growing submarket that already includes the community infrastructure needed to provide a desirable suburban lifestyle,” added Zach Gensior, Managing Partner of Alpine Start Development. “We are proud to have partnered with housing agencies to allocate a portion of the property towards income-restricted rentals to supplement this growing neighborhood’s inventory of attainable housing. Our team’s thoughtful approach towards programming indoor and outdoor amenity spaces will bring a unique residential experience to this submarket.”
Range West offers a diverse range of floor plans, including 150 one-bedroom units, ranging from 637 to 712 square feet, 99 two-bedroom units ranging from 1,139 to 1,150 square feet, and 12 three-bedroom units at 1,349 square feet.
Alpine Start Development anticipates that Range West will be completed by Q2 2025 but will have its first units and the clubhouse available in Q4 of 2024. In the past 18 months, Alpine Start Development has initiated three apartment projects in Dallas-Fort Worth and Austin, totaling over 875 units. Several other land development sites are currently in predevelopment, with a pipeline of over 2,000 units.

BEAVERTON, OR – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced that construction is underway at Modera Beaverton, a mixed-use apartment community located in the heart of Downtown Beaverton on the western side of the Portland metropolitan area.
The wrap-style community will be built to and is pursuing LEED Gold certification standards and will feature 312 apartment homes, 4,145 square feet of retail space and boasts a walkable, bikeable location in the heart of downtown Beaverton. Modera Beaverton first broke ground in December and first move-ins are anticipated for summer 2025.
“Beaverton continues to emerge as a high-quality living destination removed from Portland but close enough to easily access all that the city has to offer,” said Sam Rodriguez, senior managing director of development in Portland for Mill Creek. “In addition to being amidst the local charm of Beaverton, future residents will be within a 15- to 20-minute drive of the Portland Central Business District and no longer than a 30-minute commute from any of the city’s key employment hubs.”
Located at 12230 SW Broadway Street, Modera Beaverton provides a Walk Score of 98 and Bike Score of 81, with several restaurants, brewpubs, nightlife opportunities and transit options easily accessible. That includes a stop on the MAX Light Rail that sits a half-mile from the community, and key artery Highway 217 is within a few blocks. Beaverton also is positioned nearby some of the most notable employers in the metropolitan area, including Nike World Headquarters, Columbia Sportswear, Tektronix, Intel and Kaiser Health.
Community amenities will include a resident clubhouse, landscaped courtyards, rooftop deck with grilling area and fire pit, outdoor dining, demonstration kitchen, coworking spaces, private workspaces, game room with pool table, coffee bar and pet spa. The 24-hour, club-quality fitness center will include a yoga studio, golf simulator, TRX system and cardio equipment. The community will also offer controlled-access garage parking with EV charging stations.
Modera Beaverton will feature studio, one-, two- and three-bedroom homes with private patios or balconies. Apartment interiors will be delivered with nine-foot ceilings, wood plank-style flooring, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, soft-close cabinets, in-home washers and dryers and walk-in closets. Smart features include ButterflyMX™ guest-access technology, programmable thermostats and key fob entry system. The community will also include digital package lockers, bike repair station, dedicated bike storage and additional storage.