DALLAS, TX – Welker Properties, a vertically integrated multifamily real estate development company, announced the $95 million development of Wolf Creek Farms Melissa Build-to-Rent (BTR), which will bring 343 Class-A units to Collin County. The project establishes Welker Properties as a leader in BTR across Dallas-Fort Worth.
While many key players in real estate are hesitant in today’s macroeconomic environment, Welker Properties is leveraging the caution of others and doubling down on their resources to build and provide much needed housing options for residents.
The gated community is strategically located between I-75 and Sam Rayburn Tollway and will bring together all the best aspects of single-family homes with detached units that have their own private yards, along with the flexibility, amenities, and maintenance free living that comes with living at a Class-A apartment.
“In the past 10 years, Dallas-Fort Worth’s population has increased by more than 20%, creating an increased need for housing,” said Andrew Welker, Founder and CEO of Welker Properties. “This project is designed with best-in-class specialists to create a community that optimizes resident satisfaction across generations.”
Wolf Creek Farms’ first-class community amenities include a resort-style pool, dog park, fitness center, resident lounge, multiple open courtyards, Wi-Fi in all common areas and units, and controlled property access. Units will range from one and two car garages to cottage-style homes with the option to rent a detached garage.
Highly rated public schools and abundant retail and services, including McKinney Town Square, The Star in Frisco, and The Shops at Legacy are within easy reach of the community.
“Luxury BTR communities are emerging throughout the United States, especially in the Sunbelt markets. As these areas increase in popularity, we are proud to prioritize BTR communities that provide residents with high-quality living and the opportunity to experience everything Melissa has to offer without the long-term commitment of homeownership,” added Welker.

WILLIAMSBURG, VA -Balfour Beatty Campus Solutions, a leading developer and operator of infrastructure projects for the college and university market, announced it has reached financial close on a public-private partnership (P3) project to deliver new on-campus student housing at William & Mary.
Construction on the over-$240 million project is scheduled to commence in July in anticipation of an opening in Fall 2025. The project construction team includes both Balfour Beatty Buildings division and Kjellstrom+Lee, based out of Richmond, Virginia.
We are delighted to work with William & Mary on this exciting renewal of on-campus housing, said Amy Aponte, vice president, Balfour Beatty Campus Solutions and William & Mary alumnus 94, 96. William & Mary s leadership has been clear-eyed about the needs of their students and their goals for a more sustainable future. We hope these new communities embody the authentic William & Mary experience and that they house not only students, but also the rich diversity of thought, traditions, culture and best of what is to come for this esteemed university.
The project supports William & Mary s Vision 2026 plan, which features a housing and dining master plan to position the university to meet future strategic needs. Over the course of ten years, William & Mary will renovate or replace 80% of its housing system in a complete transformation of the on-campus residential experience.
This first phase will deliver new housing for 935 students at West Woods on the west campus, as well as housing for 269 students in a new facility adjacent to Lemon and Hardy Halls along Jamestown Road. The new residence halls, configured into modern living units and community spaces, will be conditioned using geothermal heating and air conditioning, in support of William & Mary s Climate Action Roadmap, which calls for a carbon-neutral campus by 2030. As part of the project, fossil-fuel-dependent systems in Lemon and Hardy Halls will also be transitioned to geothermal energy.
On the West Woods site, a new ~50,000 GSF dining facility will become the signature eatery on campus, offering patrons a serene dining experience nestled in the wooded site.
Balfour Beatty is the perfect partner for this complete revitalization of the campus experience, said Jackie Ferree, William & Mary s interim chief operating officer. Together we can accomplish something that neither of us could do on our own, and that promises to benefit generations of William & Mary students.
Ginger Ambler 88, Ph.D. 06, vice president for Student Affairs, agreed. This project reflects our steadfast commitment to meeting the needs of students today and of generations to come, she said. At each step, Balfour Beatty has understood the importance of keeping students at the center of this ambitious project, designing beautiful, innovative spaces that allow them to thrive in community with one another. We are thrilled to be in partnership with them.
The project was designed by VDMO Architects in collaboration with CMTA and William & Mary leadership. Provident Resources Group (Williamsburg Properties LLC), is the project s residential facility owner through an issuance of project-based, tax-exempt debt financing. Upon completion, the housing community will be managed by the university.

JACKSONVILLE, FL – FCP announces the $33.25 million acquisition of Water’s Edge Apartments at 800 Broward Road in Jacksonville, FL through a joint venture with Springer Capital. The 404-unit apartment community was built in 1974 and consists of one-, two-, and three-bedroom units in a tranquil, waterfront setting. Water’s Edge marks FCP’s second acquisition in Jacksonville and its second partnership with Springer Capital.
FCP has closed its second Florida acquisition in two weeks, following the company’s investment in Avana Cypress Creekin North Lauderdale, FL.
“We are pleased to be building on our existing relationship with Springer Capital,” said FCP’s Bruce Gago, who heads the firm’s Florida office. “FCP is excited to expand its Jacksonville footprint with Water’s Edge. We intend to substantially enhance the property through significant capital investments, including curing existing deferred maintenance and enhancing amenities and the resident experience.” The venture has retained Cushman & Wakefield to manage Water’s Edge.
Water’s Edge residents benefit from immediate access to I-95 and are just five minutes from the I-295 Jacksonville beltway. The community is proximate to Jacksonville International Airport, UF Health North Hospital, and various shops and amenities at River City Marketplace. Community amenities include two pools, a playground, and sand volleyball court, and select units with large patios and balconies, river views, and fireplaces.

JACKSONVILLE, FL – Olympus Property, a leading real estate investment and property management company, has completed the acquisition of Presidium Town Center, a best-in-class 370-unit multifamily property located in Jacksonville, FL. Developed in 2021, this Class A community offers one of the highest-quality living experiences in the heart of the Deerwood Park submarket.
With over a decade of experience owning and managing properties in the region, including more than seven assets comprising 2,500 units, Olympus Property continues to solidify its position as a multifamily leader in the Jacksonville market with the acquisition of Presidium Town Center. Leveraging its deep local knowledge and expertise, Olympus is well-positioned to drive strong operational performance at Presidium Town Center. As a prominent player in the multifamily real estate industry, Olympus Property remains committed to providing residents with exceptional living experiences and delivering strong returns to investors. With extensive experience and a hands-on approach, Olympus currently owns and manages over 31,400 units across 14 states.
Nestled in the vibrant Southside submarket, renowned as one of Jacksonville’s most coveted neighborhoods, Presidium Town Center offers residents convenient access to a wealth of amenities. The area stands as Jacksonville’s premier live/work/play environment, boasting a central location and access to over 7.8 million square feet of retail space. Positioned at the heart of Deerwood Office Park, the region’s largest employment hub, Presidium Town Center provides residents with unrivaled proximity to over 70,000 jobs, as well as esteemed institutions like the University of North Florida and St. Vincent’s Medical Center. Jacksonvillemaintains its status as a thriving migration hub, consistently outpacing national growth for the past two decades. The city’s population growth over the last 12 months positions it among the fastest-growing in the United States. This upward trajectory seems likely to continue, as Jacksonville recently earned the distinction of being ranked the third hottest job market in the nation by The Wall Street Journal.
“We welcome the addition of Presidium Town Center to our growing portfolio,” comments Wade Madden, Chief Operating Officer at Olympus Property. “This acquisition aligns with our commitment to offering residents exceptional living experiences in prime locations. The unmatched access to employment centers, transportation, and entertainment make Presidium Town Center an ideal choice for individuals seeking a thriving community that combines convenience and quality living.”
Presidium Town Center offers premier in-unit and community amenities in the Jacksonville market. Built in 2021, the community features contemporary design elements and high-quality finishes, such as expansive floor plan designs, smart home technology, plank wood-style flooring, stainless steel energy-efficient appliances, quartz countertops, modern tile backsplashes, and full-size washer and dryers. Residents can enjoy impressive community amenities, including a zero-edge pool, rooftop lounging deck with a fireplace, ultramodern fitness center, and indoor and outdoor fireplaces.

TAMPA, FL – Trilogy Real Estate Group, a Chicago-based real estate investment and property management firm, announced the acquisition of Azalea Apartments, a 289-unit multifamily community that is currently under construction in the East Tampa neighborhood of Brandon, for $85.8 million. Azalea will join Trilogy’s growing portfolio of investments located in qualified opportunity zones.
Investments in qualified opportunity zones benefit from the provisions of the 2017 Tax Cuts and Jobs Act that allow the taxes on capital gains realized from the sale of almost any asset, such as stocks, bonds, businesses, real estate, and K-1 partnerships to be deferred by investing the gains in designated opportunity zones. The most significant benefit of the program is the permanent elimination of taxes on capital gains realized from the sale or exchange of an investment in a qualified opportunity zone fund that has been held for a minimum of 10 years.
“We are the beneficiaries of three years of development work that ZOM Living completed,” said Trilogy chief investment officer Jesse Karasik. “Opportunity zone developments typically take multiple years to bring online and become cash flowing assets, and we are thrilled to have been positioned to acquire this high-quality property in a booming market near its completion.”
Azalea is located at 8240 Causeway Boulevard, minutes from Tampa’s urban core and in one of the fastest-growing counties in the country. The first move-ins at the property are expected to begin this quarter, and residents will be able to choose from one-, two-, and three-bedroom layouts ranging from 700 to 1,400 square feet. ZOM Living sold Azalea to Trilogy and will manage its construction through completion.
Each apartment home at Azalea features energy-efficient, stainless steel Whirlpool appliances, quartz countertops, contemporary cabinets with upgraded hardware and soft-close drawers, and hurricane impact windows. Luxury living extends throughout the community with a resort-style pool deck with cabanas, and a relaxation area with hammocks and fire pit. There’s also a fitness center with a spinning studio and an outdoor yoga lawn, multi-use event lawn, pool pavilion, and gaming area with a pool table and corn hole. The pet-friendly community will also offer an oak tree-shaded, fenced dog park and pet salon.
“We continue to focus on delivering cycle-resistant investor returns, which today’s market environment provides for via attractive multifamily investment opportunities,” said Matt Leiter, chief financial officer. “While all of our investments are selected based on their viability independent of any potential tax benefits, the qualified opportunity zone program can provide a meaningful enhancement to investor returns.”

SAN FRANCISCO, CA – BRIDGE Housing, a leading nonprofit developer, owner, and manager of affordable housing for 40 years, has expanded its efforts to address increasingly unaffordable rents in the Bay Area with the acquisition of a multifamily housing community in Daly City. This is the third acquisition of a mixed-income community by BRIDGE in San Mateo County.
BRIDGE purchased the 195-unit Eaves Daly City complex from AvalonBay Communities and will preserve at least half of the units in perpetuity for residents earning up to 80% of the Area Median Income. Currently, the units have no income restrictions. This workforce housing typically serves teachers, police officers, healthcare workers, and others who earn too much to qualify for subsidized housing but often cannot afford to live close to their jobs in major metropolitan areas.
The housing crisis demands urgent action, and this latest deal demonstrates our commitment to ensuring predictable, affordable rents and quality housing for working families in one of the country s most expensive markets, said Ken Lombard, BRIDGE President and CEO. It also reflects our decision to accelerate acquisitions to preserve existing workforce housing while continuing our traditional role developing new affordable units for low- and middle-income families. We are grateful to Morgan Stanley and NEF for their partnership.
Morgan Stanley and National Equity Fund (NEF) provided financing as part of an innovative partnership forged last year by BRIDGE Housing CEO Ken Lombard. BRIDGE secured a $250 million funding arrangement to facilitate expansion into acquisitions of multifamily properties. The financing from Morgan Stanley and NEF also enabled BRIDGE s acquisition of two adjacent properties – Terra Linda Manor and Northview – with 125 workforce housing units last year in the Marin County community of San Rafael.
We are proud to work with partners like BRIDGE Housing and Morgan Stanley who share our belief that preserving affordable housing is just as important as creating new homes, especially in markets like San Francisco where the cost of housing continues to rise, said Matt Reilein, president and CEO of National Equity Fund. Through our collective efforts, we are working to make long-term rental affordability more accessible for individuals and families in Eaves Daly City.
BRIDGE will soon begin an extensive, multi-year investment of approximately $23 million to improve the apartments and community facilities at Eaves Daly City. Built in 1972, the property includes 11 two- and three-story buildings on a site encompassing 8.2 acres.
The property consists of studio, one-bedroom, and two-bedroom units with fully equipped kitchens, as well as a pool, fitness center, and spa open to all residents. BRIDGE will assume management of the property from AvalonBay after an eight-month transition period.
Since 1983, BRIDGE has been an innovative leader in affordable housing along the West Coast by creating strong communities, improving residents lives, and delivering strong financial returns along with positive social impact. BRIDGE has participated in the development of more than 21,000 affordable units, with a total development cost of $5.2 billion; currently has a portfolio of 13,000 apartments that are home to 30,000 people; and has more than 8,000 units in its development pipeline across California, Oregon, and Washington.
We have a decades-long track record of working with officials at all levels of government, fellow nonprofits, private developers, and financial institutions to strengthen communities through safe, stable and affordable housing, Lombard said. When affordable housing is needed more than ever, BRIDGE has the strategic vision and financial agility to respond quickly to create lasting solutions to this urgent crisis.

BATON ROUGE, LA – Landmark Properties, a fully integrated real estate firm specializing in the development, construction, investment management, and operation of high-quality residential communities, has acquired The Lodges at 777, in Baton Rouge, LA. The Lodges at 777 is Landmark’s second acquisition in Baton Rouge and adds 1290 beds and 382 total units to the growing Landmark portfolio.
Constructed in 2011, The Lodges at 777 is currently 100% preleased for the fall 2023 term and is a top choice for LSU students who are looking to live close to campus in a cottage-style product with more living space and top-tier amenities.
“We’re excited to add The Lodges at 777 to the Landmark portfolio,” said Wes Rogers, Landmark’s President and CEO. “Thanks to the hard work of our acquisitions and investment team in a difficult environment, Landmark is still acquiring attractive student properties at top-tier universities across the country.”
The Lodges at 777 offers many resident amenities including a resort-style swimming pool with poolside cabanas, a two-story clubhouse with gaming areas and areas for studying, and a large fitness center including Fitness-On-Demand and a Yoga Studio. The community’s units feature contemporary furnishings, granite countertops, and stainless-steel appliances. These top-of-the-line features and amenities allow the property to stand out from other student focused assets in the area.

SAN DIEGO, CA – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, announced the start of leasing at its newest community, Winslow, in San Diego’s University Heights neighborhood.
One of San Diego’s historic streetcar suburbs, University Heights is a charming, intimate neighborhood bordered by Uptown and Mission Valley. Winslow honors the history and character of its location and blends it with the current energy and culture of San Diego. Embracing a bohemian spirit, the 379-home mid-rise community, with 17,818 square feet of retail, infuses creativity and tradition into a contemporary vibe and living experience.
“San Diego is a modern, forward-thinking city, and Winslow incorporates that outlook into a progressive community design while still complementing the rich history of the University Heights neighborhood,” said Dan Ferguson, SVP of Development for Quarterra. “The amenities package caters to the needs of today’s renters and remote workers and puts residents in position to take advantage of the abundance of local opportunities. We’re excited to bring an elevated residential opportunity to this highly-desirable location.”
Minutes from San Diego’s sun-drenched beaches and bustling downtown, and bordering both Hill Crest and Bankers Hill, University Heights is a walkable neighborhood brimming with an eclectic mix of restaurants, coffee shops, boutiques and artist studios lining Park Boulevard. Bars and restaurants to suit every whim are within moments of Winslow, including neighborhood hangouts like Whistle Stop and Live Wire, high-end cocktail lounges like Polite Provisions, old-school haunts such as Red Fox Steakhouse and Rudfords, and local favorites Madison and Parkhouse Eatery. Trolley Barn Park serves as the neighborhood playground for families, hosting free concerts throughout the summer, while The Diversionary Theatre puts on inspiring local productions. Just blocks away, the renowned North Park neighborhood is home to Ray Street Arts District and its 30 contemporary art galleries, as well as a popular monthly art walk. The area’s culinary delights, entertainment options and unique combination of architecture and art deliver incredible cultural diversity.
Winslow, located on the corner of Park and El Cajon at 4353 Park Blvd., offers a commuter-friendly location minutes from the CA-163 and I-805 freeways, providing convenient access to San Diego’s professional hubs and universities. The University Heights, North Park and Hillcrest neighborhoods establish the ideal staging area to explore San Diego landmarks like San Diego Zoo and Balboa Park — one of the largest urban parks in the United States and offers a plethora of recreational activities, cultural attractions, and beautiful gardens. The setting also positions residents within easy reach of San Diego’s mission-style old town and energetic downtown districts. Ocean Beach, Mission Beach, and Coronado – home to the iconic Hotel del Coronado – are all just a short drive away. Winslow also features an underground parking garage for resident vehicles, complete with EV charging.
Winslow, a LEED certified community, offers studio, one- and two-bedroom apartment homes, ranging from 484 to 1,377 square feet. The majority of the 379 homes welcome residents with expansive city views. Contemporary homes are equipped with smart thermostats, USB outlets, quartz countertops, full ceramic tile backsplashes, stainless steel appliances, undermount sinks with designer faucet hardware, and luxury vinyl plank flooring throughout. Spa-style bathrooms feature ceramic tile shower surrounds and bedrooms are designed with expansive closet space.
All residents have access to an entertainment courtyard with rocking lounge chairs, outdoor kitchen, billiard, ping pong and foosball, as well as an active pool and spa courtyard with barbeque grills and hibachi table. A 24-hour fitness center includes a yoga studio, and the co-working lounge features private conference rooms, collaborative workspaces and a coffee bar. Winslow also includes a pet spa and recreation area, bike storage and repair room, and oversized package room with package lockers.
Winslow is Quarterra’s third San Diego community, joining Luma and Shift.

PHOENIX, AZ – WhiteHaven, a private equity real estate firm specializing in multifamily housing in Greater Phoenix, announced the acquisition of Clarendon Park Apartments in Phoenix. At takeover the property rebranded to Haven at Midtown. The community was acquired for $37 million and is WhiteHaven’s ninth acquisition in Arizona.
“We are thrilled to have had the opportunity to source this attractive investment through our network of top brokers across the Phoenix MSA,” said WhiteHaven principal Sam Grooms. “Given WhiteHaven’s history of seamless transaction execution, our firm was invited to pre-empt the marketing process and worked expediently to execute the acquisition in what has been a challenging capital markets environment. This property is an ideal addition to WhiteHaven’s portfolio due to its location, vintage, unit mix, and heavy value-add potential. Following a full-scale renovation, we believe this community will appeal to a wide range of tenant profiles, ensuring strong investment returns for our partners.”
Haven at Midtown was built in 2002 and features 138 studio-, one-, and two-bedroom units. The ample community amenities include a resort-style pool with a grilling area, a state-of-the-art gym, a dog park, garages, and covered parking. The property benefits from the redevelopment of the area with the revitalization of Park Central, the addition of Creighton University’s medical campus, and Dignity Health’s corporate office, all which have led to the area’s recent designation as a bioscience hub.
“The growth in the area has contributed to an evolution of the tenant base, yet Haven at Midtown has not seen any meaningful upgrades since being built and currently is not able to successfully fulfill tenant expectations. WhiteHaven’s preferred execution of heavy programmatic value-add will include upgrading unit interiors with new high-end cabinets, luxury appliances, flooring, and fixtures. We further plan to add electrical vehicle charging in the garages. The midtown area has become an exceptionally desirable and highly amenitized destination for young professionals, and we look forward to participating in the continued growth momentum in the area over the coming years,” said WhiteHaven principal Ben Leybovich.
WhiteHaven’s recent acquisition highlights the company’s investment strategy of purchasing core plus assets in desirable locations and performing high-end improvements to maximize the value of assets in its portfolio. WhiteHaven is entering at a low basis, far underneath replacement cost even post-renovation and targets improving the net operating income at the asset by over 50% in the first three years of ownership.

RICHMOND, VA – Capital Square Living, the wholly owned multifamily property management subsidiary of Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the assumption of management of four Virginia multifamily communities totaling 1,040 units.
The properties include Saltmeadow Bay Apartments in Virginia Beach, Virginia, and Sapphire at Centerpointe in the Richmond suburb of Midlothian, Virginia. Both communities are owned by Capital Square Apartment REIT, Inc., a private non-traded real estate investment trust sponsored by Capital Square that invests in multifamily properties primarily located in the Southeast and Texas. The remaining properties include Streets of Greenbrier Apartments in Chesapeake, Virginia, and Flats at West Broad Village Apartments in Glen Allen, Virginia, both of which are owned by Delaware statutory trusts sponsored by Capital Square.
Capital Square Living is in the process of assuming management of 45 multifamily communities comprising approximately 11,000 units owned by Capital Square’s affiliated apartment REIT, DST programs and opportunity zone funds.
“The assumption of property management by Capital Square Living gives our investors a competitive advantage over sponsors that use third party property managers because a single management team is now responsible for each property, from acquisition until disposition, with a laser focus on each asset, to maximize revenue, increase operating efficiency and reduce unnecessary costs,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Capital Square Living, which was founded in late 2022, now manages 10 residential communities comprised of 2,891 units. By Summer of 2024, Capital Square Living will manage over 45 residential communities comprised of over 11,000 units, and operate in 18 markets, spanning across six states and 25 cities. The firm provides comprehensive, state-of-the-art management services, including operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing and resident retention.
“By internalizing property management, Capital Square is providing best-in-class experience for our residents, from exceptional properties to outstanding customer service, and frankly, we are creating something unique in the marketplace,” said Gus Remppies, multifamily veteran and president of Capital Square Living. “In turn, our vertically integrated business model creates tangible value for thousands of investors served by Capital Square.”
Saltmeadow Bay Apartments, located at 757 Saltmeadow Bay Drive, is comprised of four four-story residential buildings with one-, two- and three-bedroom floorplans across 229 units, ranging in size from 866 square feet to 1,598 square feet. The gated community is within walking distance of Virginia Beach and features a resident clubhouse, controlled-access buildings, elevator-serviced buildings, a resort-style swimming pool, 24-hour fitness center, dog park, onsite storage and covered parking and garages.
Sapphire at Centerpointe, located at 14250 Sapphire Park Lane, was constructed in 2020 and features 192 units with one-, two- and three-bedroom layouts. Community amenities include a resort-style pool, expansive sundeck, pocket parks and a 24/7 fitness center with state-of-the-art cardio and weight training equipment. Additional amenities include quick-charge electric car charging stations, a 24/7, video-monitored package room, a fenced dog park and garage parking.
Streets of Greenbrier Apartments, located at 929 Wintercress Way, was constructed in 2013 on 13.78 acres of land. The community consists of 280 units across nine residential buildings, including studio, one-, two- and three-bedroom layouts ranging in size from 516 square feet to 1,286 square feet. Community amenities include pocket parks with covered swings and grilling stations, a sun deck with Wi-Fi access, a grand oasis-style pool, 24-hour fitness center, poolside grilling area, an outdoor poolside fireplace and TV, as well as a fireplace lounge. Additional amenities include a billiards area, dog park, picnic area near a pond, a free car wash/car vacuum station, valet waste service and onsite recycling.
Flats at West Broad Village Apartments, located at 3930 Wild Goose Lane, is a 339-unit multifamily community situated on approximately 4.86 acres of land and features approximately 9,000 square feet of amenity space, including a state-of-the-art fitness center, a package locker room, co-working areas, a coffee bar, a lounge as well as numerous restaurants and a hotel. Additional amenities include catering space, meeting rooms, a resort pool with sundeck and cabanas, a grilling station with a covered lounge area, a billiards room with outside firepits and a movie theater with stadium seating.