SOUTH BEND, IN – Toll Brothers, the nation s leading builder of luxury homes, through its Toll Brothers Campus Living division, announces the groundbreaking of The 87, a new four-story, 335-unit luxury low-rise apartment community in South Bend, Ind., totaling nearly 431,000 square feet. The 87 will be the firm s seventh luxury student housing community developed nationwide.
Designed by KTGY Architects with V3 Engineering, and interior design by Mary Cook Associates and branding by Matchbox Studio, Toll Brothers Campus Living will manage the development, construction, marketing, and asset management of The 87. Construction is anticipated to be completed in 2024. The recent groundbreaking celebration was attended by senior executives from Toll Brothers, The 87 s development partners, South Bend elected and appointed government officials, and members of the media.
The 87 will represent the very best of what Toll Brothers Campus Living stands for, said Doug Smythe, Acquisition & Development Manager Toll Brothers Campus Living. From the quality of the materials to the extraordinary amenity offerings with best-in-class design and construction and unmatched resident services that our brand is already known for nationwide, we believe The 87 will be among the greatest rental offerings available in the market.
Located at 1710 N. Turtle Creek Dr. in South Bend and situated on the 10-acre former site of the Turtle Creek Apartments, most recently known as Campus View, The 87 will provide student residents with outstanding access to the University of Notre Dame campus, as well as St. Mary s College and Holy Cross College nearby. Spread among 26 townhomes and five apartment buildings ranging from three to four stories, The 87 will include 335 residences with a total of 810 beds. The community will offer a mix of studio, one-, two-, and four-bedroom rental homes ranging from 420 square foot studios to 2,000 square foot townhomes. The project features 423 total parking spaces, including a three-story parking garage, private townhome garages, and surface parking.
Residents will enjoy more than 15,000 square feet of interior and exterior common area amenities, including a two-story fitness center, collaboration and private study areas, a content creation studio, a coffee bar, a social lounge, a multi-sport simulator lounge, and an All-Pro screening lounge, which ensures every fan of the Notre Dame Fighting Irish at The 87 will have a premier venue for watching the big game without leaving home. Residents can also enjoy outdoor amenities including a pet park, a basketball court, multiple courtyards with televisions, grills, fire pits, and outdoor games.
Residences at The 87 will feature luxury finishes including stainless steel appliances, luxury vinyl tile flooring, modern, two-tone kitchen cabinets, quartz countertops, and smart locks. Apartments will be fully furnished including a 55 Smart TV and will offer in-suite bathrooms for each bedroom, walk-in closets (in select units), and in-unit washer and dryer.
Notre Dame is one of the most storied schools in America and we are truly privileged to become a part of this community, said Charles Elliott, President of Toll Brothers Apartment Living, which oversees Toll Brothers Campus Living division. We are excited to develop our first multifamily project in Indiana and provide student residents in South Bend with the same quality and service we re known for throughout the country.
According to US News & World Report, Notre Dame is now tied for No. 18 out of 443 in the Best National University rankings. The Report also lists multiple Notre Dame undergraduate programs among the best in the nation, including Accounting at No. 6. Washington Monthly magazine ranks Notre Dame No. 10 in its National University Rankings of public universities contributing to the public good.
Named for 1887, the year of Notre Dame s first football team, The 87 represents the continued expansion of Toll Brothers Campus Living s footprint nationwide. The 87 is the newest project in the Toll Brothers Campus Living portfolio and joins other exceptional apartment communities under development by Toll Brothers at Georgia Institute of Technology, University of Central Florida, and Florida International University. The firm previously developed Terrapin Row at The University of Maryland, which was sold in 2017, The Yards at Old State at The Pennsylvania State University, and Canvas at Arizona State University.

LOS ANGELES, CA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of The Vermont, a high-rise multifamily community in Los Angeles’ Koreatown submarket. Image Capital, LLC, partnered with HGI on the transaction. The acquisition adds to HGI’s growing footprint in Southern California, following the acquisition of three multifamily communities in Long Beach in July 2022 and marking its tenth investment in the region.
Built in 2014, The Vermont comprises 464 apartment units across two high-rise towers perched above 31,000 square feet of retail space. The two towers are connected by a 7th floor sky lobby that features a library lounge, a club lounge, and a fitness center. The community also includes a six-level parking structure with separate entrances for residents and retail guests.
The Vermont features several defining characteristics and amenities that differentiate it from other apartment complexes in the neighborhood. In addition to the sky lobby, the community’s 7th floor offers nearly 27,500 square feet of outdoor space, including a resort-style pool and spa, yoga garden, dog parks, and multiple dining and entertaining areas. Interior units feature floor-to-ceiling windows that provide expansive views of the Hollywood sign, Downtown LA, and the Griffith Observatory.
HGI plans to implement a $22.3 million capital improvement plan to enhance the community, renovating common areas, interior hallways and upgrading select units. HGI’s investment activity on the West Coast has now exceeded $1 billion in the past twelve months.
“The Vermont offers the central location and expansive amenities today’s residents seek when choosing a home,” said Greg Heller, Managing Director, HGI. “Through this acquisition and investment, we see a significant value-add opportunity, positioning the community to better compete with newer, Class A properties in the neighborhood.”
The parties in the transaction were represented by Cushman & Wakefield., Inc. Marc Renard, Executive Vice Chair of the firm’s Capital Markets Group who led the team stated “The Vermont received interest from around the globe by investors that recognized the compelling cost basis versus new construction, the prospects for accretive additional property upgrades and the strong support for above national average rent growth driven by the numerous ‘knowledge’ based employment centers that surround the asset.”
Located at one of Los Angeles’ busiest intersections, the community offers convenient access to various destinations throughout the city. The LA Metro Rail’s Wilshire/Vermont subway station is directly across the street from The Vermont and easily connects residents to employers in nearby Downtown LA. Planned expansions to the Metro Rail will soon connect residents to other job centers throughout the city, including Century City, Beverly Hills and Westwood.

SAN DIEGO, CA – Olympus Property announced the acquisition of The Residences at Escaya, a 272-unit luxury Class A property in Chula Vista, California, 15 miles from Downtown San Diego. The Residences at Escaya is situated in Chula Vista’s rapidly growing Otay Ranch neighborhood, the best-selling 450-acre master planned community in San Diego.
The property is located in one of the fastest growing cities in California surrounded by high-quality employment opportunities and exceptional retail and recreational amenities. Given its central San Diego location and exceptional freeway access, the property has outstanding connectivity to many of San Diego’s key job centers including Downtown, Kearny Mesa, Mission Valley, and UTC. These employment hubs offer a large concentration of job opportunities in high-paying industries including cleantech, life sciences, aerospace/defense, and healthcare.
The Residences at Escaya will be an excellent addition to Olympus’ growing portfolio, an experienced operator in California since 1992. “We feel fortunate to have been selected as the buyer of this top-of-the-market newly built asset,” notes Chandler Wonderly, Principal of Olympus Property. “We look forward to long-term ownership and continued expansion in the market.”
The Residences at Escaya is one of San Diego’s most sought-after residential communities and recently won the highly coveted Pillars of the Industry award for the nation’s “Best Garden Apartment Community” by NAHB.
Built in 2019, The Residences at Escaya is a low-density community-centric luxury development. The property offers residents private garage and carport parking and a thoughtfully curated list of amenities including a 30,000 sq. ft. walkable retail village, a resort-style swimming pool, state-of-the-art fitness center, expansive clubhouse, and outdoor lounge BBQ area. The property features well-designed spacious floor plans ranging from 784 Sq. Ft. to 1,560 Sq. Ft. and best-in-class finishes including quartz countertops, stainless steel appliances, full-height tile backsplashes, wood-style plank flooring, in-unit washers/dryers, and ocean views from select units.

DES MOINES, IA – Indianapolis, Indiana-based multifamily syndication company BAM Capital is announced its recent acquisition for the BAM Multifamily Growth & Income Fund III: Autumn Ridge.
Autumn Ridge is a 434-unit institutional quality, garden-style apartment community that was developed in 2017 and 2019. It is located in Waukee, Iowa, one of the fastest-growing suburbs of Des Moines, Iowa.
The value-add potential both in utilizing our economies of scale in Des Moines and bringing rents in line with the competition in the area more than exceeds BAM Capital’s strict acquisition criteria, says Tony Landa, Chief Investment Officer.
Des Moines is an emerging market similar to Indianapolis a few years ago, says Ivan Barratt, Founder & CEO. Autumn Ridge will be BAM Capital’s fourth multifamily asset in the Des Moines, Iowa MSA.
Autumn Ridge features a diverse set of floor plans, a comprehensive amenity package, two swimming pools, and strong in-place cash flow. With many well-known and stable employers in the area including Microsoft, MercyOne, Wells Fargo, and more, BAM Capital is confident that it can deliver a targeted 15-20% IRR return on investments for its investors.
As part of the vertically integrated The BAM Companies (BAM Capital, BAM Management, BAM Construction), BAM Capital has over 100 years of experience among Executive level staff. With over $700MM assets under management, over $152.5MM in distributions to investors, and 900+ investors across 40+ states, BAM Capital is a proven sponsor with a solid track record.
Autumn Ridge will join Hamilton Station, The Bristol, and Autumn Ridge as part of BAM Multifamily Growth & Income Fund III. Hamilton Station and The Bristol are both also located in the Indianapolis, Indiana, metropolitan statistical area. Autumn Ridge is located in Des Moines, Iowa.

LAS VEGAS, NV – McCourt Partners, one of the most visionary and community-driven family-owned real estate development companies in the U.S., announced a partnership with experienced ;Las Vegas-based TRU Development Company, a market leader with deep roots in the region, to develop a 244-unit, Class A apartment building in Henderson, Nevada. The project is set on nearly 6 acres at the gateway of Inspirada, a vibrant and flourishing master-planned community.
“We’re delighted to expand our footprint to an exciting high growth market where we see great potential,” said Jordan Lang, President of McCourt Partners. “We are pleased to partner with TRU Development who not only have a proven track record and intimate market knowledge but share our passion for building projects that have a meaningful impact on the communities they serve.”
“TRU Development is excited about the opportunity to partner with McCourt Partners in acquiring a dynamic site in Inspirada. The growing submarket in West Henderson provides a perfect setting for a new multifamily residential delivery,” said Tim Deters, President and CEO of TRU Development.
This project is the latest in a robust pipeline of developments for New York and Los Angeles-based McCourt Partners, who announced earlier this year the acquisition of a core piece of the Dallas Design District, a unique real estate portfolio spanning more than 40 acres and nearly 800,000 square feet of leased showroom, retail, and flex office space.
McCourt’s Chairman and CEO, Frank H. McCourt Jr., is a fifth-generation builder and business leader with family roots in real estate and construction dating back to 1893. Over the last 45 years, McCourt has been involved in large-scale real estate projects in New York City, London, Miami, Austin and Los Angeles, and played a critical role in the development of Boston’s Seaport.

DALLAS, TX – Brazos Residential, a Dallas-based real estate private investment firm specializing in multifamily investments, announced the acquisition of two properties in Rocky Mount and Fayetteville, NC, marking the firm’s thirteenth and fourteenth transactions in 2022, respectively.
In Rocky Mount, the firm acquired the Jefferies Cove Apartments, a 152-unit community built in 1987, with an average unit size of 1,066 sq. ft. Brazos purchased the asset from the original developer and was particularly drawn to the opportunity due to its proximity to an existing portfolio property that has performed exceptionally well.
“Jefferies Cove is located a half a mile from our Rosewood community that we purchased earlier this year,” explains James Roberts, Managing Partner, and Cofounder. “Rosewood is of similar vintage to Jefferies Cove and was also purchased from its original developer. Since we acquired it in April, the property has continually exceeded pro forma. We are confident that Jefferies Cove presents a comparable opportunity for our investors.”
In Fayetteville, Brazos purchased the Briarwood Apartments, a 273-unit complex that was built in 1970. The property is in very close proximity to Cape Fear Medical Center, the 9th largest medical system in North Carolina, which contains nearly 1,000 beds and employs over 7,000 people, and marks the firm’s fourth acquisition in Fayetteville, NC.
“Brazos now holds over 700 units in Fayetteville,” explains Blake Shannon, Chief Investment Officer. “By emulating the success of our other Fayetteville properties, we are excited to capitalize on Briarwood’s operational inefficiencies to reposition the asset and maximize returns to our investor partners.”
Founded in 2022, Brazos Residential owns, operates, and manages multifamily real estate assets for institutional and high-net-worth investors across the country. Brazos holds over 2,500 multifamily units across the American Sun Belt, predominately in Texas and North Carolina. The firm employs a dynamic team of real estate, private equity, accounting, and capital market professionals and controls over $307 million in multifamily real estate investments.

GILBERT, AZ – Family Development and Mosaic have announced the groundbreaking at Town Germann, a gated, build-to-rent community located in Gilbert, Arizona. The 14.5-acre property will consist of 209 luxury townhomes ranging from approximately 1,192 to 1,379 square feet with two- and three-bedrooms, 2 baths plus a powder room and two-car attached garages. Rents are anticipated from $2,600.00 to $2,900.00.
“Town Germann offers a long list of perks for its future tenants: a prime location, spacious rooms, open floorplan designs, private two-car garages with direct access, and highly desirable amenities, said Vince Barbato, Principal of Family Development. Residents will appreciate the privacy of living in a gated, professionally managed neighborhood with a multitude of retail and dining options just minutes away. Plus, its proximity to major freeways, including the nearby 202, will offer convenient access for commuters. Restaurants, shopping, entertainment venues, medical providers and recreational activities are all within walking or biking distance to Town Germann.
We were immediately inspired by Family Development s innovative vision for this community, said Ron Gonski, Senior Vice President of Growth at Mosaic. As the Build-to-Rent market evolves, Family Development has keyed into what today s renters really want, like an outstanding location and top-tier amenities that cater to their everyday lifestyles. This project s scale and quality make it an ideal match for Mosaic s innovative, technology-enhanced general contracting platform.
Behind its private gates, Town Germann s sought-after amenities will include a central resort pool and spa, barbecue area, fitness center, large central park, ramada, dog park, multiple pocket parks and walking trails.
“We believe that Town Germann will be one of the most coveted luxury lease addresses in Gilbert, said Barbato. From community perks to its ultra-convenient location in the heart of Gilbert, every detail has been thoughtfully planned with today s discerning renters in mind. Mosaic’s vastly experienced team understood our vision, and as we learned more about the company’s approach to construction, Mosaic became the obvious choice to help us bring this project to life.”
Family Development and Mosaic operate at the leading edge of the build-to-rent industry, with Family Development completing multiple projects in the space already. The companies bring to their collaboration vast experience in multiple locations and a shared vision about innovation and quality in the build-to-rent space. As both companies expand their geographic footprint, they will seek additional opportunities to collaborate.

SALT LAKE CITY, UT – Safehold, the creator and leader of the modern ground lease industry, has closed on a $26.5 million ground lease to facilitate the ground-up development of One Burton, a fully amenitized 180-unit multifamily project located in South Salt Lake’s new downtown district.
The Qualified Opportunity Zone project will be developed by a new Safehold customer, ABSTRACT Development Group, an affiliate of a large New York based multifamily real estate owner.
“We are pleased to close our first multifamily transaction in Salt Lake City with a first-rate sponsor,” said Senior Vice President Adam Matos. “Safehold’s ground lease structure has proven to be an advantageous capital source for high-end developments nationwide. We look forward to expanding our presence in the Salt Lake City market and continuing to work closely with ABSTRACT.”
“This transaction was extremely important to us as it represents our first project in the growing Salt Lake market. The Safehold team was a pleasure to work with, and remained a reliable partner, even during this current period of economic uncertainty,” said Jason Algaze, Principal at ABSTRACT. “They understood our goal to provide thoughtfully-designed and much-needed housing in the Salt Lake market. We look forward to working alongside Safehold to develop additional high-end multifamily projects.”

STEAMBOAT SPRINGS, CO – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and a developer of mixed-use multifamily communities, announced the start of construction on Steamboat Basecamp, a 119-unit mixed-use multifamily property in Steamboat Springs, Colorado. The development is expected to be completed by fall 2023.
Located at 1901 and 1950 Curve Plaza, Steamboat Basecamp will be comprised of 75 for-rent apartment units, as well as 30 condominiums and 14 townhomes available for purchase. The property will also include nearly 8,000 square feet of leasable retail space. Marketing and pre-sales of the townhomes has begun, which has resulted in five reservations.
“Steamboat Basecamp is an excellent development that will serve as an ideal complement to Steamboat Springs, one of the nation’s most popular mountain resort destinations,” said Whit Huffman, co-chief executive officer. “There is tremendous demand for quality living options in the region but also meaningful barriers to entry for new development, including a rapidly diminishing supply of available land able to accommodate significant projects like Steamboat Basecamp. As a result, even at this early stage of construction, we are experiencing substantial interest in the property from potential residents.”
Steamboat Basecamp lies at the “main and main” of the rapidly growing neighborhood of West Steamboat, just off Highway 40 and less than two miles from downtown Steamboat Springs. The popular Steamboat Ski Resort, which is in the midst of a $200 million expansion that will make it the second largest ski resort in the state,1 is just four miles from the development.
Nestled in the Rocky Mountains approximately 150 miles northwest of Denver, Steamboat Springs is a popular year-round tourist destination often referred to as “Ski Town USA” for its excellent skiing and snowboarding opportunities. This stunning area also has geothermal hot springs, zip lining, rafting, and many other outdoor activities enjoyed by residents and more than 500,000 visitors annually.2 The rustic city was founded in 1900, making it rich in history that focuses on miners, ranchers, and the Native American Ute tribe.
Steamboat Basecamp is less than two miles from a flourishing downtown area which has a variety of restaurants and entertainment venues. Where the adventurous spirit meets functional living, these properties will offer residents access to a communal rooftop lounge, courtyard and a ski and bike tune-up shop.
“Steamboat Springs enjoys high employment and projected future job growth of 57% during the next decade, making it an ideal area for those seeking a live-work-play lifestyle,3” explained Adam Stifel, chief development officer. “The local real estate market is thriving, with demand for housing far outpacing available supply, resulting in significant price appreciation. Steamboat Basecamp will help to satisfy demand for quality housing in the area, while providing potentially significant upside for investors in the development.”
Capital Square formed a joint venture with May Riegler Properties to develop Steamboat Basecamp, which has been funded by nearly $17 million raised from accredited investors in CSRA Steamboat Basecamp LLC, a private placement investment sponsored by Capital Square. Capital Square and May Riegler have partnered with KASA Architecture, which serves as building architect, Deneuve Construction, which serves as the project’s general contractor, and JNS Architecture, which oversees interior design.

ORLANDO, FL – The Bainbridge Companies, a fully integrated family of real estate companies engaged in the development, construction/renovation, management, and acquisition of residential and commercial real estate as well as a leading owner, developer, and manager of luxury multifamily apartment communities, announced its newest residential property, Bainbridge Mission Pointe, is open.
Located at 12231 Pioneers Way, Orlando, Fla. 32832, Bainbridge Mission Pointe is a luxury multifamily apartment community that offers 300 modern one-, two-, and three-bedroom apartment homes ranging from 885 to 1,589 square feet. Each apartment home is pet-friendly and offers stainless steel GE appliances, two-inch faux wood blinds with Carrara marble window sills, a private patio or balcony, a smart electronic deadbolt keyless entry, Wi-Fi smart thermostat with touchscreen, and gourmet kitchen islands.
This is the third Bainbridge apartment community on Lake Whippoorwill, following in the footsteps of Bainbridge Nona Place and Bainbridge Narcoossee Cove, said Bob Thollander, president of development at The Bainbridge Companies. With The Lake Nona ‘Medical City a stone s throw away from Bainbridge Mission Pointe, this community will have just about everything going for it: great schools, close proximity to great high-paying job opportunities, fine dining, shopping, and entertainment options.
Bainbridge Mission Pointe also offers 9-foot ceilings with fans in the living room and all bedrooms, and a full-size, side-by-side, or stacked washer and dryer. The first residents of each apartment home may choose a finishing package of brown slab cabinets with quartz and herringbone tile backsplash or white shaker cabinets with quartz and subway tile backsplash.
Community amenities include lake frontage with a boat ramp and pier on Lake Whippoorwill, an infinity-edge saltwater pool overlooking the lake, a cyber café with a coffee bar and lounge areas, a 24-hour fitness center with cardio and strength training, a 24-hour clubhouse with an entertainment island, electric vehicle charging stations, a 24/7 secured access package room, and more.
Thollander added, We are very pleased with how this community is coming together. We carefully and creatively designed it specifically for the Lake Nona Lifestyle. It also has the major bonus of being one of the few remaining lakefront apartment communities in the Metro Orlando area. There are incredible views of Lake Whippoorwill throughout the project. We wanted to activate the waterfront as much as possible, so we incorporated a large walking trail along the entire waterline as well as a boat ramp and fishing pier. This truly is a resort-style community and one of the premier lakefront apartment developments ever built in Orlando.