GRAND PRAIRIE, TX – JPI, a leader in the development of best-in-class multifamily communities, has broken ground on the first phase of Jefferson Loyd Park, a Class A development that will bring 450 multifamily homes to Grand Prairie.
The new community, made up of eight 3-story walkup buildings, will span over 25 acres and will feature urban-style architecture. Residents will enjoy top-of-the-line community amenities such as a resort-style pool with cabanas, a fitness center equipped with virtual exercise class offerings, and convenient access to Loyd Park and Joe Pool Lake.
“This is a really exciting project for us,” said Blake Taylor, Senior Vice President and Regional Development Partner for JPI. “Not only are we able to bring a substantial number of homes to a growing area, but in such a unique location. Jefferson Loyd Park will provide residents with a place to call home that is urban yet has easy access to Loyd Park and Joe Pool Lake. It’s the best of both worlds.”
Jefferson Loyd Park is positioned along Highway 360 between Debbie Lane and Broad Street. State Highway 360 is a major highway in the area and reports 27,000 vehicles per day. The community also provides residents quick access to a host of retail and dining within a 5-mile radius, such as Kroger, The Home Depot, Super Target, Chase Bank, Starbucks, and many more.
Partners on the project include the lender, Happy State Bank; architect, Demarest; civil engineering, Kimley Horn, and many others. Including Loyd Park, JPI’s total count of homes under construction currently stands at over 7,600, with over 6,200 homes under construction in North Texas alone.
“Jefferson Loyd Park Phase 1 marks JPI’s 3rd project in Grand Prairie in the last 18 months, so we have become very familiar with their quality and standard of work,” said John Lopez, District 4, Mayor Pro Tem for Grand Prairie. “Our priority is to enhance the quality of life for the community, and we believe that this new project will do just that by bringing top-of-the-line mix-use housing to an area of town that has so much to offer.”

GREENSBORO, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, announced it has acquired Lansbrook Village, a 774-unit apartment community located in Palm Harbor, Florida. In a separate transaction, the Company also announced it has acquired Presidio East, a 312-unit apartment building in Fort Worth, Texas. Lansbrook Village was acquired on behalf of Bell Value-Add Fund VIII investors and will be renamed Bell Lansbrook Village. Presidio East was acquired on behalf of Bell Core Fund I investors and will be renamed Bell Presidio.
“By leveraging our local market knowledge and differentiated deal flow, we have acquired two properties in quality locations that, with careful underwriting and a disciplined approach to risk management, can each provide attractive returns to our investors,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “Bell Lansbrook Village is our first acquisition for Value-Add Fund VIII and offers the ability to immediately create value through renovations and enhanced management practices. Bell Presidio is well-suited for our Core Fund I venture as it provides a stable performance history in a location with attractive growth prospects.”
Completed in several phases between 1998 and 2004, Bell Lansbrook Village is a low-density community with direct entry, townhome style units in one-, two-, three- and four-bedroom floor plans. The 85-acre property boasts a range of high-quality amenities, including three pools, tennis courts, a fitness center and a pet park. The property’s location offers convenient commuter access to downtown Tampa and downtown St. Petersburg. Ample retail and dining locations, beaches, an 18-hole championship golf course and walking trails are all within minutes of the property.
Completed in 2017, Bell Presidio is a low-density community with modern interior finishes and an attractive unit mix of larger floorplans providing desirable options to a wide range of prospective residents. Amenities include a two-story fitness center and large saltwater pool. The property is located in North Fort Worth near Alliance Town Center, top-ranked schools and major employment centers including the Alliance Texas global logistics hub.

PALO ALTO, CA – Multifamily owner-operator and investment manager Pacific Urban Investors acquired La Jolla International Gardens, a 400-unit apartment community in the La Jolla / University Town Center (UTC) submarket of San Diego, CA. The property was renamed Allina La Jolla and marks Pacific s 21st acquisition in the San Diego Market.
Allina La Jolla is a 100% market rate property built in 1986. La Jolla / UTC is known as a regional employment driver in multiple science and technology fields due to its business connectivity to the University of California at San Diego (UCSD) research ecosystem. Proximity to downtown La Jolla, job centers up and down the I-5/I-15 corridors, and some of southern California s best beaches make La Jolla / UTC a highly sought-after locale offering convenient coastal access and short commute times. The Property offers semi-urban, walkable living 10 minutes from the ocean, a job-dense micro location with abundant neighboring retail, and spacious amenities. Community offerings on the meticulously crafted, 7-acre asset include a resort-style pool and spa, sprawling clubhouse, fully-equipped business center, modern fitness center, sand volleyball court, and bar-be-que area.
Pacific Urban Investors is committed to preserving the distinctive character and identity of Allina La Jolla while introducing new initiatives aimed at further enhancing the resident experience. The company plans to invest in modernizing the community s amenities, including expanded communal areas for residents to connect and engage, and upgrading resident unit interiors.
Allina La Jolla gives Pacific the opportunity to own a high quality, well-kept vintage asset that offers residents a pleasant living experience with proximate access to La Jolla beaches only a short drive away. Exceptional demographics, award-winning schools, world-class outdoor amenities, and expansive retail offerings make La Jolla / UTC as desired a coastal community as any in San Diego County. The Property s premium location, access to multiple employment nodes, ample amenities, and well-designed floor plans, all serve as differentiating features in the marketplace, said Grant Geisen, Senior Vice President of Investments at Pacific.
Pacific s President Rory Gardner commented, We are excited to obtain a position in this coveted coastal San Diego submarket where opportunities are so difficult to come by. Allina La Jolla is a welcome complement to our growing Southern California portfolio, and we are actively seeking additional San Diego investments across all our strategies; including both direct acquisitions, as well as joint venture and preferred equity opportunities.

DALLAS, TX – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway on Modera St. Paul, a contemporary mixed-use apartment community centrally located in one of the most walkable areas within Downtown Dallas.
The 16-story community, with 333 homes and nearly 4,000 square feet of retail space, will be uniquely positioned at the confluence of the city’s primary employment, civic and cultural districts with delivery occurring after numerous hotels, restaurants and parks have helped to create a vibrant neighborhood in downtown Dallas. Boasting a robust Walk Score of 95, Modera St. Paul will put residents within steps of more than 200 bars, restaurants, boutiques and additional key attractions. The community will offer a full slate of first-class amenities, including unique experiences like a karaoke room, podcast studio and arcade. First move-ins are anticipated for late 2024.
“The unique pocket of downtown, which has benefitted from considerable private investment in the Farmer’s Market and what is now known as East Quarter, as well as both public and private investment in a system of nearby parks, continues to become an exceedingly attractive living destination with its proximity to everything residents desire from city living,” said Michael Blackwell, senior managing director of development in North Texas for Mill Creek Residential. “With our partners the Hamiltons, who have been instrumental in the evolution of downtown, we are excited to add Modera St. Paul to the neighborhood, which will provide walkable access to the downtown’s rapidly expanding restaurant scene and world-class parks, all while putting residents within moments of nearly 200,000 jobs in greater downtown. We look forward to offering a best-in-class living experience in the heart of Dallas.”
Situated at 400 S. St. Paul Street, the community is within a five-minute walk from the Main Street District, AT&T’s Global headquarters and Discovery District, as well as the Dallas Farmers Market. The community also features a strong Transit Score (85) and Bike Score (78). Residents will also enjoy extremely quick access to the surrounding transportation network, including two DART light rail stations and Interstate 30, Interstate 35E and Central Expressway. Several destination parks with year-round programming are within a short walk of the community, including Carpenter Park, Main Street Garden and Harwood Park, which is under construction just a half-block from Modera St Paul.
Modera St. Paul is being built to NGBS bronze standards, and will feature one-, two- and three-bedroom homes with select den layouts optimized for hybrid workers. Additional community amenities will include a rooftop deck, sky lounge, seventh-floor amenity deck with outdoor swimming pool, grilling area, fire pit, outdoor dining, landscaped courtyards, resident clubhouse, coffee bar, private conference rooms, pet spa, dog run and a club-quality fitness center with cardio equipment and yoga studio. Residents will also have access to work-from-home spaces, private EV charging stations, controlled-access reserved parking and a bike storage and repair room.
Apartment interiors will include wood plank-style flooring, built-in shelving and desks, stainless steel appliances, quartz countertops, tile backsplashes, soft-close cabinets with under-cabinet lighting, premium plumbing fixtures, refrigerators with built-in water filters, in-home washers and dryers, walk-in closets and private patios or balconies. Bathrooms will feature custom backlit mirrors, double vanities, walk-in showers and tile flooring. Select homes will include moveable kitchen islands, mudrooms, separate dining areas and oversized bedrooms. The community will also offer a variety of smart home features, including smart thermostats, smart leak detection, controlled guest-access technology and ultra-high-speed WiFi connectivity provided to residents at a discount to market-pricing.

TIGARD, OR – Hamilton Zanze announced the sale of the Woodspring Apartments in Tigard, Oregon to the Housing Authority of Washington County (HAWC).
This acquisition by HAWC helps preserve the affordability of a 172-unit apartment community. This success culminates four years of dedicated engagement and effort between the parties.
Mission Rock Residential is proud to continue as Woodspring Apartments property management company for HAWC, and it remains committed to providing the highest level of service to its residents.
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $6.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 133 properties (22,543 units) across 30 markets.

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.”