EDINBURG, TX – The newly constructed La Sienna Apartments held an official ribbon cutting, in conjunction with the Edinburg Chamber of Commerce, at 3800 La Sienna Parkway in Edinburg Texas. Chamber members, community members, and members of the media attended invited to the ceremony.
At the celebration, guests toured the new apartment homes and resident community areas. La Sienna is a green built community and features one, two and three bedroom apartment homes across seventeen (17) residential buildings, with designer touches in each living space. Four floorplans are offered and range from 746 – 1187 square feet.
Residents will appreciate the in-home features such as the included washers and dryers, private patios, walk-in closets, granite countertops, ceiling fans, energy star appliances throughout, and state of the art internet service. La Sienna offers exceptional indoor and outdoor resident-friendly amenities that include a full fitness center, Starbucks coffee bar, free community area wi-fi, gorgeous pool and lounge areas, pet park, BBQ grills, covered parking, limited access gates and game areas.
The construction of La Sienna Apartments is a step forward in fulfilling the housing needs of South Texas. The fifteen (15) acre multifamily site officially opened last year and with 288 units, La Sienna is the first multifamily community within the La Sienna Master Planned Community developed by the Burns Development Company. The forty million dollar investment is the vision of David Salazar and Felipe Martinez of World Development, LLC and offers residents of Hidalgo county new and modern living options. The construction of the development has infused the local economy with an estimated 500 jobs and over 230,000 man hours, contributing to the overall health of the Edinburg economy.
La Sienna was designed by Gonzalez, Newell, Bender Inc.architects and is being constructed by Broaddus Construction. LLC. The Project Financing was provided by Davis-Penn Mortgage Company and the community is professionally managed by HomeSpring Residential Services.

RENO, NV – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Aspen Vista, a newly constructed 102-unit build-for-rent housing community in Reno, Nevada. The community was acquired on behalf of CS1031 Aspen Vista BFR Housing, DST.
Capital Square formed the Private Equity Group managed by experienced real estate executives, Dave Platter and Jon Trott, as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent (“BFR”) strategy in high growth sunbelt markets. This represents Capital Square’s fourth BFR offering on platform to date.
“The team at Capital Square is pleased to sponsor a build-for-rent housing community in Reno, Nevada, for the DST/Section 1031 exchange program. Reno is one of the fastest growing regions, attracting many large corporations and residents from more expensive border states, including California. With strong leasing and rent growth, Aspen Vista is poised to become a top performer in Capital Square’s growing portfolio of housing options,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Located at 548 Aurora View Court, construction of Aspen Vista was completed in 2022. Developed by D.R. Horton, the nation’s largest homebuilder by volume, the detached three- and four-bedroom single-family homes average 1,689 square feet with open floorplans, granite countertops, stainless steel appliances, wood-like plank flooring, full size washer/dryers, walk-in closets, private backyard or patio, attached two-car garages, smart home integration and extra storage.
The property is in close proximity to the 395 Highway interchange, offering residents easy access to nearby schools, parks and shopping centers anchored by tenants such as Walmart, Smiths, Grocery Outlet, Big Lots, CVS Pharmacy and True Value Hardware. Residents also benefit from major logistics hubs with blue-chip employers, including Amazon, Tesla, Volvo and UPS.
The Reno metropolitan statistical area is one of the fastest growing regions in the country, which has increasingly attracted large corporations and residents migrating from bordering states, such as California. Over 29 corporate headquarters have moved into the market with major employers, including Apple, Google, Blockchains, Switch, Walmart, eBay and Tesla’s Gigafactory.
“Aspen Vista has been built in one of the most attractive real estate markets in the country, which has experienced rent growth of more than 6.5 percent in 2022, according to Yardi Matrix,” said Whitson Huffman, co-chief executive officer. “The property is a modern and attractive housing option located in an undersupplied submarket that achieved 96 percent occupancy in 2022 with only 892 units under construction.”

CHARLESTON, SC – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer and asset manager, announced the opening of Cormac Apartments. Cormac is a mixed-use apartment community on Charleston’s upper peninsula and represents the first joint venture between QMF and Cresset Partners and was capitalized in their Cresset Diversified Qualified Opportunity Zone (QOZ) Fund I.
Cormac, featuring 303 apartment homes and 13,068 square feet of retail space, as well as a pair of public ground level courtyards – offers an unprecedented level of modern living to the rapidly growing North Morrison “NoMo” district. The mid-rise community’s unique and enviable location puts residents within easy reach of employment centers and dining options, as well as entertainment and sporting venues. It also provides prime access to Downtown Charleston, Mt. Pleasant, Park Circle in North Charleston, and West Ashley.
“Cormac represents a significant step in the evolution of Charleston’s Upper Peninsula district, bringing an element of sophistication through next-level living and retail opportunities,” said Beach Corontzes, development manager for Quarterra. “The Upper Peninsula has become a destination dining and nightlife locale, not to mention a coveted neighborhood to call home. We’re excited to welcome residents and help to accelerate the surging momentum in the neighborhood.”
Situated at 1310 Meeting Street Road, Cormac is central to regional employment, shopping, dining and entertainment options. The retail shops at King Street, East Bay Street, Historic Charleston City Market, West Edge and Mt. Pleasant Town Center are all within a short drive. Local hot spots such as Butcher & Bee, Edmund’s Oast Brewing Company, Home Team BBQ, Revelry Brewing and Brewlab Charleston are just blocks away. Cormac residents also find themselves in close proximity to several local attractions such as The Refinery, Pacific Box & Crate, and The Wonderer.
Cormac’s location on Meeting Street Road (U.S. Highway 52), is less than a quarter mile from Interstate 26, and approximately 1 mile from Ravenel Bridge – which leads to Mt. Pleasant – creating exceptional connectivity to employment centers in Downtown, Mt. Pleasant and North Charleston. Residents have access to a controlled-access three-story above-grade parking facility, as well as on-street parking and 19 electric vehicle charging stations.
The community features studio, one- and two-bedroom apartment homes, highlighted by Nest smart thermostats, keyless entry and stainless-steel Whirlpool appliances. Custom cabinetry, quartz or granite countertops, hardwood-inspired flooring and pendant lighting is featured in two distinct design schemes. Homes are equipped with tile backsplashes and under-cabinet lighting in kitchens, and baths come with oversized tubs or walk-in showers with full tile surrounds.
Residents also enjoy a full amenity lineup which includes an eighth-floor rooftop terrace complete with butler kitchen and spectacular views of Downtown Charleston and the Ravenel Bridge. The fourth-floor features three elevated courtyards – one of which is highlighted by a resort-style pool and clubhouse. The clubhouse is home to multiple coworking spaces. A state-of-the-art fitness center, a bike storage room, package lockers, rentable storage spaces are at residents’ disposal, as well.

ORLANDO, FL – Affiliates of Harbor Group International (“HGI”), a privately owned international real estate investment and management firm, and The Altman Companies announced the joint venture for the ground-up development of Altis Twin Lakes, a 346-unit luxury multifamily community in Orlando, Florida. HGI will contribute 85% of the required common equity for the development, with an approximate development cost of $104.5 million. Construction is expected to start in June 2023 and to be completed in two years.
Altis Twin Lakes will be located approximately 20 miles south of downtown Orlando. Proximate to US-441 (Orange Blossom Trail), Osceola Parkway and Florida’s Turnpike, the community will offer residents convenient access to Orlando’s major employment, retail and entertainment hubs, including two major technology-focused mixed-use communities, NeoCity and Lake Nona.
“As economic headwinds continue to impact the market, we see an opportunity to collaborate with experienced development partners with local market knowledge to execute on attractive investment opportunities,” said Richard Litton, President, HGI. “We look forward to partnering with The Altman Companies to capitalize on Orlando’s strong in-migration trends and provide well-located housing that offers access to employment opportunities and lifestyle drivers.”
“Harbor Group International is a leading global real estate investment and management firm,” said Seth Wise, CEO of The Altman Companies and President of BBX Capital Real Estate. “We are excited to partner with such an esteemed group to bring another dynamic multifamily community to Orlando.”
Altis Twin Lakes will consist of 13 three- and four-story residential buildings comprising of one-, two- and three-bedroom units with an average size of over 1,000 square feet. Unit interiors will include quartz countertops, stainless steel appliances, designer cabinets, LED fixtures, private balconies and patios, in-unit washers and dryers and smart home features.
The property will also feature a desirable amenities package, including a resort-style pool with cabanas and grilling stations, a clubhouse, coworking spaces, game rooms, a state-of-the-art fitness center, a yoga studio and a coffee bar.
HGI continues to be an active investor in Florida, last year acquiring five Miami based multifamily assets, including ParkLine Miami, two luxury apartment towers in Downtown Miami and Oak Enclave, a newly developed, 420-unit, mid-rise multifamily community in Miami Gardens.

BILLINGS, MT – Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, announced its acquisition of South Forty Apartments and its plans to renovate the property, helping to preserve high-quality, affordable units for Yellowstone County seniors. The transaction is a joint venture with Fairview Housing Partners, a national nonprofit affordable housing organization.
“We’re thrilled to grow our housing portfolio with our first acquisition in Montana, and we look forward to deepening our investment in the state over the coming years,” said LAC CEO Jeremy Bronfman. “LAC is grateful to Vitus for its stewardship of the property and its partnership to ensure long-term affordability at South Forty Apartments. We are especially excited to close our first joint venture with Fairview Housing Partners and look forward to working together to provide important services and resources for our residents.”
Under the terms of LAC’s acquisition, 101 units will be restricted for seniors at or below 60 percent of area median income (AMI). The property will also be covered by a Housing Assistance Payment contract for 100 percent of its units.
“This deal will preserve access to high-quality homes for lower-income seniors who face unique challenges in finding affordable housing across the country,” said Fairview Executive Director Thom Amdur. “We thank LAC for their partnership and are proud to play a vital role in supporting seniors in Yellowstone County.”
Originally built in 1987, South Forty Apartments offers amenities including an arts and crafts area, library, fitness center, and a picnic area. The acquisition and rehabilitation was financed through a 223(f) loan with PGIM and an equity investment and bridge loan through PNC.

ATLANTA, GA – Wood Partners, a leading national multifamily real estate developer, has begun the wood framing stage of The Beverly by Alta, the company’s newest luxury community located in Atlanta, Ga. With construction on the property currently underway, the community is set to officially open in early 2024 with pre-leasing set to begin at the end of 2023.
Located at 3314 Piedmont Road in Atlanta’s highly sought after Buckhead neighborhood, The Beverly by Alta is the perfect residential community for young professionals, placing them within minutes of the city’s main interstates. The community’s prime location offers direct routes to all areas of the city, as well as many of the area’s top employers including Salesforce, Atlanta Tech Village, Coca-Cola, Google and more. Residents will also have access to several major dining and entertainment areas, including Buckhead Village District, Lenox Square Mall and Phipps Plaza, as well as popular outdoor attractions such as Chastain Park, Fetch Dog Park, Bobby Jones Golf Course, and the PATH400 greenway trail with four access points throughout the heart of Buckhead.
“Wood Partners is excited to announce The Beverly by Alta, a new community designed for residents to experience luxurious and comfortable living in the center of one of Atlanta’s most in demand neighborhoods,” said Bennett Sands, Managing Director at Wood Partners. “As an Atlanta-based organization, we are thrilled to continue expanding our footprint right in our back yard while contributing to the on-going boom in growth and development taking place throughout the city.”
Once complete, The Beverly by Alta will offer 291 apartment homes comprised of studio, one-, two- and three-bedroom layouts with custom-designed floorplans. Designed with a modern, luxurious feel in mind, residents will be welcomed home to light-filled, open floorplans, warm tones and sleek features. Each home will also boast an array of high-end finishes including luxurious kitchens featuring stainless steel Whirlpool appliances, quartz countertops and designer tile backsplash, as well as full size in-unit washer and dryer sets, spacious balconies and wood-style flooring in the main living spaces.
Outside their homes, residents of The Beverly by Alta will also be able to take advantage of the community’s best-in-class amenities, including a resort-style pool featuring cabanas and lounge chairs, outdoor pavilions, outdoor yoga deck, outdoor coworking space, grilling stations and outdoor fire pits, pool lounge, library, poker room, golf simulator, and an on-site dog park and wash area. Inside the clubhouse, residents will have access to a 24-hour fitness center and yoga studio, rentable private day offices and a TV lounge.

NEW YORK, NY – Tredway, an affordable and mixed-income real estate developer focused on building and preserving high-quality, high-opportunity attainable housing, in partnership with Gilbane Development Company and ELH Mgmt announced the acquisition of Sea Park Apartments, an 816-apartment, three-building affordable property located between Surf and Neptune Avenues in Coney Island, Brooklyn.
“We are pleased to protect, preserve and produce new affordable homes at Sea Park, a framework that will increase access to opportunity for all current and future residents,” said Will Blodgett, CEO & Founder, Tredway. “The investments we are making will lead to a more affordable, connected, diverse, healthy and vibrant community and foster economic stability for the thousands of New Yorkers who call Sea Park and the wider Coney Island neighborhood home.”
“This outcome would not have been possible without the support of our partners,” Blodgett added. “I personally want to thank HCR, HFA and HPD for working collaboratively to deliver more affordable housing and address the specific needs of our residents and our city.”
“Gilbane Development Company is thrilled to work on this development with Tredway and ELH Mgmt to preserve and extend affordability of 816 units and construct 250 new affordable senior apartments,” noted Ed Broderick, President and CEO of Gilbane Development Company. “The scale of the transaction requires sophisticated and well capitalized partners to execute and we are grateful for this terrific team.”
589 homes will serve households with a maximum yearly income of 60 percent of the area median income (“AMI”), 159 homes will serve those with a maximum income of 50 percent of AMI and 65 homes will serve households earning up to 80 percent of AMI. 90 apartments will be set aside for formerly homeless residents and there are three Superintendent’s units.
Tredway and its partners will embark on a multimillion-dollar rehabilitation of the entire Sea Park complex focused on quality-of-life improvements as well as strengthening its resiliency and improving the property’s energy efficiency.
The development team also intends to build 250 new units of holistic affordable housing at the site catering to seniors.
Berkadia and Deutsche Bank are the lenders. New York City-based ELH Mgmt will serve as property manager. An Ariel Property Advisors team led by founding partners Victor Sozio and Shimon Shkury, along with investment sales director Benjamin Vago and director of research and sales Remi Mandell, arranged the sale of the portfolio on behalf of the seller.
The preservation and creation of new affordable housing at Sea Park Apartments was achieved in conjunction with New York State Homes and Community Renewal (HCR), the New York State Housing Finance Agency (HFA), and the New York City Department of Housing Preservation and Development (HPD).

KNOXVILLE, TN – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announced its second project in a build-to-core joint venture with Manulife Investment Management. The Mark Knoxville, which wlll open doors in August 2025, will add 834 beds to the University of Tennessee housing market.
“The Mark Knoxville is the second project in our partnership with Manulife Investment Management, and it will be our fourth property near The University of Tennessee,” said Landmark President and CEO Wes Rogers. “We like the underlying fundamentals of the Knoxville market and look forward to delivering more purpose-built student housing beds to area students.”
Located a short walk from the northwest of campus, The Mark will offer unit types ranging from studios to five-bedroom options. The property will offer an on-property garage for resident vehicles and a shuttle bus to campus. The features and location of The Mark will make it an attractive option for students seeking luxury housing in the Knoxville market.
“We are excited to continue the growth of our partnership with Landmark with this development at the University of Tennessee, supported by local market fundamentals and Landmark’s experience operating in the area,” said Manulife Investment Management Managing Director Edward Dunn.
Apartment units at The Mark will include a gourmet-style kitchen with ample cabinet space, quartz countertops and stainless-steel appliances. Every residence is fully furnished, offering hardwood-style flooring and a private bathroom for every bedroom.
Additionally, residents will enjoy The Mark’s best-in-class amenities including a rooftop pool and Jumbotron. Residents will have access to many other amenity spaces including a 24-hour study lounge, a pickleball court, a stylish rooftop clubhouse, and a state-of-the-art fitness center. The thoughtful design of The Mark’s 25,000 square foot courtyard amenity spaces, featuring fire pits, grilling stations and hammock groves, add extra opportunities for recreation and relaxation for residents and guests across the property.
Construction on the project is slated to begin in June 2023 with Landmark Construction as general contractor.

EVERETT, WA – MG Properties, a privately held real estate investment company, has announced the acquisition of Artesia Apartments, a premier apartment community located in the Silver Lake neighborhood of Everett, Washington, for a purchase price of $61.6 million.
Artesia Apartments is a 192-unit apartment community located in the highly desirable city of Everett, which is a thriving business hub and offers easy access to Seattle and the surrounding areas. The community features spacious and modern one-, two-, and three-bedroom apartments situated directly on Silver Lake, providing residents with a variety of recreational activities and excellent access to the region’s largest employers.
“We are thrilled to add Artesia Apartments to our growing Seattle portfolio,” said Jeff Gleiberman, President of MG Properties. “This purchase aligns with our investment strategy of making long-term acquisitions in strong markets with solid growth potential.”
The seller, RISE Properties Trust, was represented by Philip Assouad, Giovanni Napoli, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino from Institutional Property Advisors. Financing was provided by Freddie Mac and arranged by Brian Eisendrath, Cameron Chalfant, Jake Vitta, and Tyler Johnson of Institutional Property Advisors.

CHARLOTTE, NC – Clark Construction Group joined representatives from Riverside Investment & Development, Woodfield Development, Goettsch Partners, and CBRE to ceremoniously break ground on Queensbridge Collective at 111 East Carson Boulevard, a transformative mixed-use development in Charlotte, North Carolina. Clark is serving as Construction Manager-at-Risk.
Located at a popular intersection in Charlotte’s South End Neighborhood, the development includes a 42-story multifamily tower with 409 units, a 35-story, 600,000-square-foot office building, nearly 30,000 square feet of retail, and 1,600 parking spaces.
Vertical construction on the residential tower will begin immediately following the completion of sitework, and the building is expected to complete in the summer of 2025. The next phase of the development will include vertical construction on the office tower.
Designed by Goettsch Partners, the project will incorporate world-class architecture and best-in-class amenities. Queensbridge Collective at 111 East Carson is the fourth collaboration between Clark Construction, Riverside Investment & Development, and Goettsch Partners in the last decade. Together, the team has successfully delivered the award-winning 110 North Wacker, 150 North Riverside, and 320 South Canal projects in Chicago.
“This project team has a proven track record of success,” said Chris Phares, vice president at Clark Construction Group. “We’re thrilled to work alongside the team again in a new market, where we hope to continue our growth together.”