RALEIGH, NC – Wood Partners, a leading national multifamily real estate developer, announced the grand opening of its newest high-end residential community, Alta Vale, located in Raleigh, N.C. The property hosted a grand opening celebration for neighbors and residents.
Located at 4710 Mint Leaf Lane, Alta Vale sits just outside the Raleigh Beltline (I-440), with quick access to the Lake Boone medical office corridor, Umstead State Park, and the new Bandwidth headquarters. In addition, residents will benefit from being within minutes of an array of retail and dining options, and having direct, on-site access to Raleigh’s Greenway Trail system.
“Wood Partners is thrilled to announce the grand opening of Alta Vale, an exceptional community that we believe offers a rare combination of great access to major employment hubs within Raleigh, while being surrounded by green space,” said Caitlin Shelby, Managing Director at Wood Partners. “Our motto at Alta Vale is ‘discover how natural city living can be.’ We think residents will enjoy having a quick commute to work or school, while being able to retreat to nature when the day is done.”
Alta Vale offers 306 unique apartment homes consisting of custom-designed studio, one-, two- and three-bedroom floor plans. Each home features high-end fixtures and finishes, including kitchens complete with stainless steel appliances, white quartz countertops, spacious kitchen islands, modern cabinetry, and elegant white subway tile backsplash. Throughout the home, residents will enjoy large walk-in closets, spacious balconies, in-unit washer and dryer sets, and USB outlets.
Across the community, Alta Vale offers a variety of amenities for its residents to enjoy, such as outdoor lounges featuring a resort-style pool and firepits, comfortable seating areas, outdoor kitchen, hammock grove, and pet park and spa. Inside, residents can take advantage of the community’s spacious indoor/outdoor fitness center, co-working spaces, and game room.

MYRTLE BEACH, SC – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the $64.4 million acquisition of Artisan Carolina Forest, a 276-unit multifamily community in Myrtle Beach, S.C. This transaction represents HGI’s second acquisition of a newly built multifamily property in one week following the acquisition of The Warner in Austin, Texas.
Located directly off Highway 31, Artisan Carolina Forest is central to Myrtle Beach’s ample recreation and leisure offerings, including miles of coastal beaches, resorts, golf courses and restaurants. The community is adjacent to the Marketplace at the Mill, a shopping center providing a variety of nearby retail options for residents, and is in proximity to several medical centers that serve as key employers to the area.
“With affordable rents relative to other high-growth coastal cities, Myrtle Beach is one of South Carolina’s most attractive multifamily markets,” said Yisroel Berg, Chief Investment Officer – Multifamily. “As a newly developed luxury community, we anticipate substantial opportunity to attain a strong renter base at Artisan Carolina Forest and achieve steady rent growth as the area continues to attract new residents.”
Developed in 2022, the community features a premier amenity package, including a resort-style pool with a TV lounge and cabanas, a dog park, electrical vehicle charging stations, a fitness and yoga center and coworking and conference rooms. Apartment interiors include luxury finishes, oversized kitchen islands, walk-in showers, modern backsplashes and dual vanities.

RIVERSIDE, CA – JPI, a leader in the development of Class A multi-family communities, announced that vertical construction has begun on The Exchange at Riverside, which will bring 482 homes to Riverside, California. The milestone was celebrated with a Golden Hammer ceremony on the jobsite.
The three-story luxury multi-family development will offer 1-, 2-, and 3-bedroom homes to residents as well as several live/work units. The homes will offer energy-efficient stainless-steel appliances and electric ranges, private tiered balconies, 9-foot ceilings, and a full-sized washer and dryer.
Residents will also enjoy two resort-style pools accompanied by cabanas and outdoor firepits, an outdoor kitchen, coworking lounges, a state-of-the-art fitness center, a dog park, a bicycle storage and repair room, and electric vehicle charging stations.
“We are very blessed to be welcomed by the Riverside community and are excited about this project,” said Payton Mayes, CEO of JPI. “Every project has a story, and there are so many people who played a role in the story of The Exchange at Riverside. We are so grateful for each and every one of you, and are excited to see this project come to life.”
The Exchange at Riverside will provide convenient access to the award-winning downtown Riverside with the Fox Performing Arts Center, Convention Center, UCR Arts, Riverside Plaza, and Mission Inn & Spa. The Exchange at Riverside also offers outstanding access to education, as it is conveniently located close to the University of California Riverside, which boasts over 26,000 students.
Within one mile of The Exchange at Riverside, you can find the historical 209-acre Fairmount Park which includes Lake Evans, Fairmount Lake, and Fairmount Park Golf Course. Also, within 2 miles of the community sits Mount Rubidoux, a 161-acre hill rising above downtown with hiking trails and panoramic views of the city, and the Santa Ana River trail which is being expanded to reach 110 miles from the Pacific Ocean to the mountains in San Bernadino.
The community will be ideal for commuters as the Metrolink Station is located two miles southwest of the property, providing access to various locations in the area including downtown Los Angeles or Irvine in less than 90 minutes. The office for the County of Riverside, the largest employer in the county, is also located 1.5 miles from the community and employs over 23,000 residents.
“This project means so much to the Northside neighborhood,” said Erin Edwards, Councilmember of Ward 1. “I am thrilled that we can celebrate new housing opportunities here in our city. Adding 482 units to our housing inventory does more than just help us reach our housing goals, it shows we have a growing community where neighborhoods can thrive. I look forward to welcoming my neighbors to the community when it’s complete.”

ATLANTA, GA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway at Modera Westside Trail, a luxury midrise apartment community in Atlanta’s West Midtown neighborhood.
The community, which will feature 373 apartment homes, will sit in a bike-friendly locale that features immediate access to the Westside Trail of the Atlanta BeltLine and the vast contingent of breweries, music venues and eclectic local establishments contained within West Midtown. Modera Westside Trail is also located across the street from the west boundary of the Georgia Tech campus and its new life science incubators and one block south of the new Echo Street West mixed-use development. First move-ins are anticipated for fall 2025.
“The location on Northside Drive is the natural progression of West Midtown moving south with the benefit of an easy escape to Midtown, Downtown and Georgia Tech,” said Patrick Chesser, senior managing director of development in Atlanta for Mill Creek Residential. “As great as the Atlanta Beltline is at stitching together neighborhoods on the east side, the Westside Trail is a game-changer linking landmark mixed-use developments to the Georgia Tech campus and all the Downtown venues. If you’ve ever explored the Beltline by bike, you realize quickly how connected the west side is becoming and how much it has to offer.”
Situated at 576 Northside Drive, Modera Westside Trail will feature stunning 360 views of the Atlanta skyline and contains a superb Walk Score of 87 (considered “very walkable”). Residents will be within five minutes of the thriving employment sectors of Midtown, Atlantic Station and downtown Atlanta, and accessible commuter options include the BeltLine and MARTA. Additionally, popular athletic venues Mercedes Benz Stadium, State Farm Arena, Bobby Dodd Stadium and McCamish Pavilion are all within a five-minute commute.
Modera Westside Trail will offer studio, one-, two- and three-bedroom homes including 37 Premium Collection homes with upgraded features. Community amenities will include a resort-inspired swimming pool, landscaped pool courtyard with unobstructed views of Midtown, rooftop deck with fire pit and grilling areas, steam room, co-working space, double-height resident clubhouse with shuffleboard, onsite dog park, pet spa and a club-quality fitness center with cardio equipment, yoga studio, TRX system and Peloton bikes. Residents will also have access to digital package lockers, controlled-access garage parking, EV charging stations, loaner bikes, bike repair station, bike storage and additional storage space.
Home interiors will feature nine-foot ceilings, wood plank-style flooring, stainless-steel appliances, quartz countertops, tile backsplashes, gas ranges, walk-in closets, in-home washers and dryers, soaking tubs and tile tub/shower surrounds. Smart features will include Schlage smart door locks, keyless entry, connected smart thermostats, bulk WiFi and mobile-app guest entry. Premium Collection homes will include LED mirrors and additional refined features.

AUSTIN, TX – Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of The Warner, a 336-unit luxury multifamily community in Round Rock, Texas, a suburb of North Austin. The acquisition marks HGI’s reentry into the Austin Market and expands the firm’s Texas multifamily portfolio, which is comprised of 8,647 apartment units.
The property is 98% leased as of July 2023, demonstrating strong performance and demand for high-quality apartment housing in the Austin market, the country’s fastest-growing city and the tenth-largest city in the United States1.
“Austin has been a priority market for HGI in recent years as the city’s strong business environment has supported healthy long-term multifamily supply and demand fundamentals,” said Yisroel Berg, Chief Investment Officer – Multifamily at HGI. “As an active credit investor in major Texas markets, we were able to leverage our investment expertise and experience. We look forward to continuing to leverage the breadth of our local and national operating platform and investment capabilities to meet the ongoing demand for high-quality housing in the area.”
The Warner is a newly built luxury multifamily community, offering best-in-class in-unit amenities, including stainless steel appliances, walk-in closets, Smart Home keyless entry systems and Smart thermostats. Community amenities include a 24-hour fitness center, resort-style pool and outdoor kitchens, residential lounge, dog park, and a two-story parking garage equipped with electric vehicle charging stations. Newmark’s Patton Jones facilitated the transaction.
Situated in close proximity to the Texas State Highway 45 and Insterstate-35, The Warner offers residents accessibility to major community and employment hubs. The community is conveniently located near leading technology companies and job opportunities in the area, including Dell’s corporate headquarters, Apple’s expanding Austin campus and Samsung’s semiconductor manufacturing facility, which is scheduled for completion in 2024.

ORLANDO, FL – Blaze Capital Partners announced the acquisition of Integra Lakes, a 203-unit value-add apartment community in Casselberry, Florida, located fifteen minutes northeast of downtown Orlando. Following the acquisition, Blaze plans to invest additional capital as part of its strategic renovation plan aimed at improving the community’s interior units and common areas.
“In the midst of a challenging transaction environment, Blaze has managed to stay active and find attractive opportunities that align with our long-term goals of making calculated housing bets that we believe offer superior risk-adjusted returns,” said Chris Riley, co-founder and managing partner of Blaze. “The acquisition of Integra Lakes is a prime example of our team being dynamic and adapting to this difficult capital markets environment.”
Integra Lakes consists of four, 3- and 4-story buildings surrounding a series of ponds and walking trails. The community features studio, one-bedroom, two-bedroom, and three-bedroom apartments ranging from 532 square feet to 1,298 square feet. The 2017-built community features various amenities for residents such as a saltwater swimming pool, outdoor cabana area with a fire pit, poolside gas grilling stations and TVs. The units themselves include stainless steel appliances, granite countertops, full sized washers and dryers, and vinyl plank flooring in select areas.
Casselberry is a high-growth suburb of Orlando attracting both young professionals and growing families due to its proximity to major employment hubs, access to strong schools, and its relative affordability. Integra Lakes is located just off Highway 17 providing transportation ease to various major employers such as Advent Health and Orlando International Airport in addition to the office markets in Maitland, Winter Park, and downtown Orlando. The community is located within the sought-after Seminole County School District and offers residents a variety of high-end restaurants, entertainment, outdoor activities, and daily amenities.
“We continue to see outsized rental demand for quality apartment communities throughout the Orlando market, and Casselberry has emerged as a thriving submarket having drafted off of the growth in Maitland and other adjacent pockets,” said Eddy O’Brien, co-founder and managing partner of Blaze. “We look forward to executing on our improvement plan and delivering an exceptional housing experience to our residents.”
Blaze has continued to opportunistically grow its Sunbelt rental housing portfolio throughout 2023 with a selective, long-term approach amidst the backdrop of a challenging capital market landscape. This transaction marks Blaze’s second acquisition in Orlando this year having recently closed on The Pointe at Siena Ridge, an active adult community in the Davenport submarket of Metro Orlando. Blaze will continue to selectively deploy capital throughout the balance of the year across its various rental housing segments.

CORAOPOLIS, PA – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced the groundbreaking of Ltd. Spring Run, the first property made up entirely of units created in the Modern Living Solutions (“MLS”) factory – Greystar’s modular construction business focused on building off-site, prefabricated modular apartments sustainably and at an attainable price point under Greystar’s dedicated impact housing brand, Ltd. by Greystar.
MLS is currently hiring for several positions at the factory in Knox, Pennsylvania. Production at the factory is ramping up at an unprecedented pace, and this increased delivery drives the need for new team members. MLS is currently seeking enthusiastic candidates with no specific experience necessary, offering a sign-on bonus along with competitive wages and access to state-of-the-art facilities.
“We are excited about the increase in production, and as this growth continues, we are looking for best-in-class talent to join our growing team here at the factory in Knox,” said Andy Mest, Managing Director of Modern Living Solutions. “With the groundbreaking of Spring Run, we are eager to witness the realization of our first MLS-built community and actively seeking suitable land to bring more Ltd.-branded communities to life.”
This 312-unit project is the first of many in the pipeline for Greystar’s dedicated brand for impact housing, Ltd. by Greystar, which focuses on delivering more attainable housing opportunities for key populations affected by the lack of rental options in the United States. Unique to the Ltd. brand, Greystar will create certainty of housing for existing renters by capping rent increases at the greater of CPI or 3%.
“At Greystar, we are very aware of the acute undersupply of housing in markets like Pittsburgh,” said Scott Berka, Senior Managing Director, Brand and Customer Experience. “Ltd. Spring Run is the first of many communities under Greystar’s Ltd. brand that will provide high-quality housing at an attainable price point to critical workers like the teachers, nurses, and firefighters who are integral to our communities.”
The project site for Ltd. Spring Run is approximately 24 gross acres in Coraopolis, Pennsylvania, in the Pittsburgh metropolitan area, and delivery of the first units is expected in June 2024. The site is a convenient 7-minute drive from the Pittsburgh International Airport and retail along University Blvd, and a 25-minute drive to downtown Pittsburgh.

FLAGSTAFF, AZ – Olympus Property, a leading real estate investment and property management company, recently completed the strategic acquisition of Trailside Apartments. This vibrant 111-unit apartment community was built in 2020 and is situated in the heart of Flagstaff, Arizona. Olympus currently owns and operates Mountain Trail Apartments, also built by Chason Affinity Companies, less than 1 mile from Trailside. Olympus’s success at Mountain Trail paved the way for the recent acquisition of Trailside as Olympus continues to expand its portfolio in the Southwest.
Apartment fundamentals in Flagstaff remain robust as strong in-migration converges with a lack of supply. This imbalance has led to higher-than-expected rent growth and demand for rental housing. “Trailside is an opportunity for Olympus to expand our footprint in an extremely supply-constrained market with exceptional fundamentals,” notes Executive Managing Director, Chase Bennett. “As owners of Trailside’s sister property, Mountain Trail, Olympus is confident that our team will enhance the Property’s operations upon takeover and achieve the same operational success as seen at Mountain Trail.”
Trailside Apartments benefits from its desirable location, situated near the I-40 / Route 66, which provides residents seamless access to crucial economic centers within the city. The area boasts a thriving network of over 1,000 businesses and a workforce of 42,900 predominantly within the government, healthcare, and education sectors. Most notably, Trailside is less than a mile away from Northern Arizona University (NAU), a prominent institution and the largest employer in the region. With an enrollment of 21,000 students and a faculty-staff cohort of 4,000, NAU significantly contributes to the local economy’s vibrancy. In addition, the community offers access to the Flagstaff Regional Medical Center, another premier local employment hub. This medical facility employs over 2,200 professionals and serves a staggering 700,000 patients each year. The medical center’s recent announcement of a $750M expansion underscores the city’s steadfast dedication to fostering job growth and retaining top-tier local talent.
Trailside Apartments offers a selection of inviting studio, one-, and two-bedroom floor plans, ranging from 463 sq. ft. to 951 sq. ft. Apartment amenities combine quality and comfort including 9-foot ceilings, hardwood floors, stainless steel appliances, private balconies and patios, in-unit washer and dryers, scenic views, and detached garages in select units. Residents at the property also have access to a selection of top tier community amenities, including a clubhouse, business center, fitness center, steam room, and an outdoor fireplace.

SAN ANTONIO, TX – The Milestone Group announced its acquisition of Archer Stone Canyon Apartments, a 228-unit value add multifamily community in San Antonio, Texas. The purchase price was not disclosed.
Located at 21302 Encino Commons in San Antonio, Archer Stone Apartments feature a location that includes canyon views and botanical gardens along with resort-styled amenities, while providing exceptional access to Highway 281 and major employment centers and retail destinations in the Far North Central neighborhood.
Community amenities include a resort-styled pool, 24-hour fitness center, resident clubhouse, and a playground within a controlled access, on-site managed property. The spacious, high-ceilinged units include washers and dryers, gourmet kitchens, detached garages, computer nooks, wood-style flooring, and sunrooms, patios, and balconies in certain units.
“Archer Stone Canyon is well-located, proximate to a number of employment centers and situated within San Antonio’s top rated school district,” said Milestone Vice President of Acquisitions, Jim Duey. “Residents at Archer Stone Canyon enjoy the largest and most functional family-friendly units. We look forward to implementing capital enhancements to the property’s amenities and unit interiors, improving its market position, livability and appeal as a family-friendly community.”
Milestone acquired the property through an assumption of the existing Freddie Mac loan. Milestone’s focuses on moderate leveraged and fixed interest rate financing, which aligns well with loan assumptions as a compelling financing option.
“By assuming the existing financing, we were able to save the seller from a significant prepayment penalty while offering us a more favorable interest rate than is currently available in the market, benefitting both parties,” said Chris Bartlett, Milestone’s Chief Operating Officer. “We have acquired nearly $1 billion of assets through loan assumptions in the past two years, demonstrating our ability to ensure a seamless transaction for sellers.”

RALEIGH, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, announced it has acquired Vintage Jones Franklin, a 277-unit apartment community located in Raleigh, North Carolina. The community was acquired on behalf of Bell Core Fund I investors and will be renamed Bell Jones Franklin.
Completed in 2022, Bell Jones Franklin is located between suburban Cary and downtown Raleigh at the intersection of I-40, I-440 and U.S. 1, offering access to major retail and employment centers including Weston Parkway Office Park and Research Triangle Park. The Raleigh-Durham-Chapel Hill metro area is home to 14 Fortune 500 companies and three nationally recognized doctoral research universities, providing a large pool of highly skilled workers.
“The acquisition of Vintage Jones Franklin was a result of Bell’s deep local knowledge in the Raleigh metro area and a strong relationship with the developer,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “This investment reflects our conviction in the long-term growth and stability of the Raleigh market, improving immediate location and exceptional product that should suit the needs of current and future residents.”
Completed in 2022, Bell Jones Franklin offers modern apartments in studio, one-, two- and three-bedroom floor plans. Amenities include a 24-hour fitness center, pet park, clubhouse and a resort-style pool with cabanas. Residents enjoy easy access to entertainment, retail and lifestyle amenities with over 280 stores located in a three-mile radius.
With the addition of Bell Jones Franklin, Bell Partners now owns and/or manages 40 communities containing over 12,000 apartment homes in the Raleigh metropolitan area. Bell Partners is actively investing in 14 target markets located in the Northeast, Mid-Atlantic, Southeast, Texas and West Coast. The company broadened its footprint into the western U.S. in recent years and has added over 10,400 apartment homes to its management portfolio over the last 12 months.