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 it has closed on 5.5 acres in Orlando where it will develop Bainbridge The Grand, a residential property set to open in 2025.
Construction of the luxury apartment community, located at 5767 Major Blvd. in Orlando, will begin October of 2022. The Class A multifamily community will offer 390 one-, two- and three-bedroom homes ranging from 820 to 1,486 square feet. Bainbridge The Grand will be a five-story wrap with a structured parking garage. High-end condominium-quality interior finishes and amenities will be included in all apartment homes. Community amenities will include a resort-style pool, expansive clubroom, game room with shuffleboard, pool table, and retro arcade games, work-from-home spaces, state-of-the-art fitness center, electric vehicle charging stations, and on-site storage.
Bainbridge The Grand will be situated in the affluent submarkets of Doctor Phillips/Windermere boasting robust development and employment activity including Lockheed Martin s R&D II building and Universal s new multi-billion dollar theme park, Epic Universe, set to open in 2025. The I-4 Ultimate Improvement Project, the largest project in the history of the Florida Department of Transportation is also nearby. The $2.3 billion project will update a 21-mile stretch of I-4, Central Florida s main transportation artery.
The growth in the Orlando market, the Universal Studios expansion, and the new infrastructure of improved roads made this location a strategic choice for our new apartment development, said Bob Thollander, president of development at The Bainbridge Companies. CBRE ranked the Orlando market as the number one multifamily market in the nation on a go-forward basis and the introduction of Bainbridge The Grand will only contribute to this market s clout.

MIAMI, FL – Miami-based real estate investment firm Circle Capital Partners, which specializes in multi-family acquisitions and development, land entitlement, and private and institutional capital raising, has completed the $22.22 million purchase of Heron Landing, a 144-unit apartment complex in the fast-growing Sunrise, Florida area.
Circle Capital arranged financing through Graystone Service Co. and will retain Weller Management to manage the 159,722-square-foot, 9.2-acre property built in 1989 and last sold in 1996 for $7.2 million.
Circle Capital plans significant upgrades to the complex, including full interior renovations to 66 original apartments, and additional updates to 78 units that already have undergone improvements.
All 144 Heron Landing rental units are large two-bedroom, two-bathroom apartments that average 1,053 square feet.
Circle Capital also will build a new free-standing state-of-the-art fitness center; create a resident lounge from a renovated adjoining building; refurbish the leasing center; install new signage and landscaping; and improve overall “curb appeal,” according to Circle Capital co-founder Todd Linden.
“Heron Landing is an excellent example of our value-add strategy to serve investors and enhance resident living experiences in all the communities where we do business,” Linden said. “This fully refreshed and modernized property will be a very attractive option in an already in-demand, fast-growing market.”
Government lending agency Freddie Mac lists Broward County as the fifth-ranked rental market in the nation. Sunrise is one of the fastest growing communities Broward due to a strong economy, numerous quality-of-life attractions and top-rated public schools. Heron Landing is the only apartment complex among its competition to be zoned for the community’s A+ rated elementary school directly across the street.
The property adds to the extensive portfolio of multi-family properties Circle Capital has acquired since its formation in 2019. Circle Capital purchased The Vue, a 178-apartment complex in Davie for $36.5 million in 2021, as well as more than $200 million worth of other real estate investments in Florida, Kentucky, Texas and South Dakota.
Linden and Circle Capital co-founder Richard Valdes have completed almost $4 billion in property transactions across the United States throughout their real estate, investment, institutional capital and equity placement careers.
“This latest acquisition checks all the boxes for our strategy to benefit investors, tenants and the local rental market,” Valdes said. “It’s especially exciting that Heron Landing is in our South Florida home, and we look forward to closing many more deals here and other dynamic markets across the country.”

CAMDEN, NJ – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced that it has finalized an $85 million preservation and renovation project at the Community Meadows apartments (formerly known as Crestbury Apartments), a 391-unit, 21.5 acre complex located in Camden’s Morgan Village.
HVPG was joined earlier today by City of Camden Mayor Vic Carstarphen, U.S. Housing and Urban Development (HUD) and New Jersey Housing and Mortgage Finance Agency (NJHMFA) officials to celebrate the completion of renovations to the Community Meadows complex.
The upgrades to Community Meadows encompass a variety of wholistic improvements including complete apartment revitalization, rebuilt site infrastructure and upgrades, and the addition of an enhanced, high-definition monitoring system providing site wide security coverage and ensuring adherence to HVPG’s community standards.
“We are thrilled to celebrate the transformation of Community Meadows in partnership with the City of Camden, HUD and NJHMFA and provide renovated apartments and upgraded complex amenities with continued affordability for residents of Camden,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “When HVPG came into ownership we made a commitment to turn the community around and make it a safe place to live and raise a family. We are very proud to show what our investment and capable team can do.”
“This is an exciting announcement for the City of Camden and for the residents at the Community Meadows Apartments,” said Camden Mayor Victor Carstarphen. “This is a $85 million investment in new infrastructure, substantial upgrades to the interior of each units, enhancements to the exteriors spaces, new playgrounds and common areas, high quality security, among other improvements. These renovations allow for the preservation of quality affordable housing within Camden. I commend Hudson Valley Property Group for being responsible, accountable and community conscious property owners.”
“NJHMFA is proud to support and finance the revitalization of Community Meadows, a community that will provide nearly 400 Camden families a long-term, affordable place to call home,” said NJHMFA Chief Financial Officer John Murray. “The improvements, made in partnership by NJHMFA, HUD, the City of Camden, PNC Bank and Hudson Valley Property Group, represent a significant investment that will provide Camden residents a thriving, healthy community for years to come.”
The acquisition and substantial rehabilitation of the Community Meadows Apartments was financed with tax exempt conduit bonds through the NJHMFA, 4% Low Income Housing Credits purchased by PNC, debt financing provided by R4 and bridge equity from PNC. The City of Camden also supported the project with a long-term PILOT Agreement that was implemental to the project’s success.
All apartment units at the property received a subsidy through a HUD project-based Section 8 Housing Assistance Payment (HAP) contract. To ensure the long-term affordability of the property, HVPG secured a long-term HUD HAP contract and no residents were displaced as a result of this transaction. The property is subject to LIHTC income restrictions through a thirty-year compliance period, and tenants must qualify at 60% of Area Median Income (AMI) to reside at the property.
The renovations within the 391-unit complex totaled ~$25 million ($64,000 per unit unit) and included dark wood kitchen cabinetry and new countertops, new high-efficiency, stainless steel appliances, high output lighting and water conserving fixtures and the creation of fully compliant ADA and H/V units. Interior Upgrades also included new flooring with subfloor repairs and wall patching and painting. Site Upgrades were substantial and included storm and sanitary line replacement, sidewalk repairs, installation of new trash enclosures, and fresh asphalt across common parking areas, as well as a new playground and the addition of a new play area with playground for resident families, all with the goal of modernizing the property for sustainable long-term operations and improving residents’ quality of life. As part of the turnaround plan for the site, HVPG brought in a new property management partner, Community Realty Management, based in Pleasantville, NJ.
The project follows Hudson Valley Property Group’s recent completion of a $57 million renovation project at Corinthian Towers, a 221-unit housing complex in the 4th Ward of East Orange, New Jersey. As the need for affordable housing continues to grow, HVPG plans to continue expanding its portfolio and provide even more quality affordable housing across the U.S. HVPG currently owns over 4,500 units of affordable housing across 27 properties throughout the state of New Jersey.
Hudson Valley Property Group also recently closed its second fund, raising $292 million in capital commitments from a broad range of institutional investors. HVPG anticipates preserving more than 10,000 homes with the latest investment fund and continuing to expand its portfolio to provide quality affordable housing across the U.S.

DALLAS, TX – Brazos Residential, a Dallas-based real estate private equity firm specializing in multifamily investments, announces the acquisition of a two-property portfolio in Benbrook, TX, marking the firm’s twelfth transaction in 2022.
The 334-unit portfolio consists of two 1980’s-built communities, Clear Fork Trail and Trinity Oaks are situated southwest of downtown Fort Worth, in one of the most affluent communities in the DFW metroplex. The properties are directly adjacent to Forth Worth Country Day, one of Fort Worth’s most prestigious private schools, and are surrounded by top retailers, such as Whole Foods and Neiman Marcus.
“Brazos, along with its partners, was able to circumvent the standard bidding process, and its associated cost premium, by acquiring the ‘Benbrook Two-Pack’ completely off-market”, explains Managing Partner and Cofounder, William Hancock. “Our team knows the metroplex extremely well. My business partner, James Roberts, and I have transacted on over 80,000 units across DFW in our previous roles as multifamily and debt brokers. Clear Fork Trail and Trinity Oaks present an incredible opportunity for our partners in one of the best real estate markets in the country.”

BOISE, ID – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Monterra Townhomes in Boise, Idaho. The firm originally purchased the 148-unit, garden-style apartment community in 2014, and the sale closed on September 29, 2022. The sale of Monterra Townhomes represents Hamilton Zanze’s eighth disposition of 2022.
During their ownership, the firm completed numerous exterior improvements, which included renovations to the fitness center, roof replacements, and pool enhancements. Additionally, units were updated with new flooring, paint, appliances, faucets, countertops, hardware, and cabinets.
“It has been great to see the Boise market flourish since acquiring Monterra in 2014,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “Since then, the efforts of Hamilton Zanze’s construction and asset management teams combined with the robust multifamily fundamentals the property thrived. We are thrilled on the execution of this sale in a time that is seeing reduced transaction volume and being able to deliver a tremendous IRR and equity multiple to our investors.”
Monterra Townhomes was built in 1994 and is located at 3960 Federal Way in Boise. The property is comprised of 148 units averaging 1,313 square feet. The community has a clubhouse, pool, hot tub, fitness center, and playground.
Monterra Townhomes is located in Southeast Boise on South Federal Way, a major arterial road that connects to Downtown Boise. The property is less than two miles east of I-84, which connects Boise with Salt Lake City, UT and Portland, OR. The property is approximately three miles from the Boise Airport and five miles from Downtown Boise.

PHOENIX, AZ – EJF Capital and Toll Brothers, through its Toll Brothers Apartment Living division, announced the formation of a joint venture to develop Henri, a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a Qualified Opportunity Zone under the Tax Cuts and Jobs Act of 2017 (TCJA), which offers investors potential tax benefits to invest into Qualified Opportunity Zones with the aim of spurring economic growth in lower income areas.
The Project, expected to break ground in October 2022, is a joint venture between EJF OpZone Fund I LP and TBAL. Upon completion, the seven-story building will offer a unit mix of studio- through 3-bedroom apartments located in one of the only pre-automotive, walkable neighborhoods in the Phoenix Metropolitan Statistical Area (MSA). Neighboring the famed arts district Roosevelt Row, the Project is surrounded by restaurants, bars, cafes, art galleries, shops, and entertainment venues.
We re truly delighted to partner with Toll Brothers on a project with such undeniable economic appeal, said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. Phoenix is one of the nation s fastest-growing metropolitan areas, with a sizeable employment base and a dynamic retail, restaurant, and entertainment hub downtown—yet it has a limited supply of new housing opportunities. Henri is well-positioned to capture that unmet demand.
Charles Elliott, President of Toll Brothers Apartment Living, said Downtown Phoenix s ideal location, proximity to major transportation networks, and demographics all point to a community in growth mode. Henri will fill an important need for multifamily housing in this vibrant and fast-growing area.

EAST ORANGE, NJ – Hudson Valley Property Group, a leading, national affordable housing preservation company, announces the completion of the $57 million preservation project at Corinthian Towers, a 221-unit housing complex in the 4th Ward of East Orange, New Jersey.
City of East Orange Mayor Ted R. Green, U.S. Housing and Urban Development (HUD) and New Jersey Housing and Mortgage Finance Agency (NJHMFA) officials attended a ribbon cutting ceremony earlier today to celebrate the completion of the extensive renovations and upgrades to Corinthian Towers.
The comprehensive renovations totaling ~$11.5 million (~$50,000 per unit) feature major home improvements, including complex-wide infrastructure modernization, apartment upgrades, and the implementation of enhanced site monitoring utilizing intelligent cameras for adherence to HVPG’s community standards, marking a new beginning for the 94-year-old facility.
“With the help of the City of East Orange, HUD and the NJHMFA, we are honored to transform Corinthian Towers into a place that residents will be proud to call home,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “As the demand for affordable housing continues to increase across the nation, this project exemplifies our commitment to partnerships to make these projects possible and the quality and affordability we provide residents across our properties.”
“The City of East Orange is excited to celebrate the completion of this expansive renovation project at Corinthian Towers and I applaud Hudson Valley Property Group for making this significant investment in our community,” said Mayor Ted R. Green. “Quality, affordable housing is one of my administration’s top priorities and the partnership we share with HVPG, HUD and the New Jersey Housing and Mortgage Finance Agency is an excellent example of how we can improve the standard of living for our residents, preserve the stability of our neighborhoods, and contribute to the economic revitalization of our city.”
“The preservation of affordable housing is one of HUD’s top priorities, and Corinthian Towers is a great example,” said Alicka Ampry-Samuel, HUD Regional Administrator for New York and New Jersey. “HUD is committed to providing rental subsidies to ensure these homes remain affordable so residents can count on housing and financial stability for years to come.”
“NJHMFA is proud to support the $11.5 million plan to renovate, improve and ensure the continued affordability of Corinthian Towers,” said NJHMFA Executive Director Melanie R. Walter. “These improvements will provide long-term safe, stable housing for 221 East Orange families; they represent a transformative investment in the future of this vital community.”
All apartment units at the property received a subsidy through a HUD project-based Section 8 Housing Assistance Payment (HAP) contract. To ensure the long-term affordability of the property, HVPG obtained a new, 20-year-term HAP contract. No residents were displaced as a result of this transaction. HVPG additionally brought in a new property management partner at the property, Community Realty Management of Pleasantville, NJ.
Financing the rehabilitation included private equity raised from the Hudson Valley Preservation Fund, LLC, NJHMFA tax-exempt bonds and 4% Low Income Tax Credits (LIHTC) purchased by PNC, a construction loan from PNC and a Freddie Mac credit enhanced Tax-Exempt Loan (TEL) originated by PGIM Real Estate. The City of East Orange supported the project with a long-term PILOT Agreement.
Renovations of the 221 apartments included designer inspired kitchen cabinetry and countertops with high efficiency appliances, the creation of fully compliant ADA and H/V units, and new energy-efficient lighting and water conserving fixtures. HVPG also paid careful attention to the character of the building, reinvigorating the lobby’s original terrazzo flooring with thoughtful tile touches carrying over to custom brass entry doors. A full elevator modernization was undertaken, and the old elevator car was donated to the Patterson Fire Department to be used for their ongoing training program. In addition, the building’s generator, boilers, and roofing were replaced, adding to the quality-of-life upgrade provided to the residents. Security measures were also overhauled at the property with new generation, advanced smart cameras allowing for full building viewing in high definition, an audio and visual intercom system, and the addition of monitored access control points.
“The building has changed a lot since Hudson Valley Property Group took over. It’s cleaner, the hallways are nicer, there are no rodent problems. Safety of the building is number one. Overall, it’s a good place to live and raise your kids,” says Jamillah Ellis, a resident of Corinthian Towers.
With construction now complete and similar to other HVPG properties, ownership and management will look to partner with local not-for-profit organizations and healthcare and technology providers to offer curated resident services programming at the property. HVPG currently owns over 4,500 units of affordable housing across 27 properties throughout the state of New Jersey.

RALEIGH, NC – FCP announces the $48.0 million acquisition of Grand Arbor Reserve, a 297-unit vintage apartment community at 2419 Wycliff Road, blocks from I-440 in Raleigh, NC.
“Grand Arbor Reserve is a well-located asset that provides residents quality housing near job centers, retail amenities and transportation corridors,” said FCP’s Michael Errichetti.
Grand Arbor Reserve offers residents convenient access to I-440, Raleigh’s main thoroughfare, providing excellent connectivity to downtown Raleigh, Research Triangle Park, and over 100,000 jobs in the Raleigh-Durham MSA. The property is also adjacent to the UNC Rex Hospital, one of the top hospitals in Raleigh.
The 297 units are made up of predominantly two- and three-bedroom apartments with onsite amenities including a pool, fitness center, playground, dog park and volleyball court.
FCP extends its appreciation to Howard Jenkins and CBRE Southeast Multifamily for their representation of the seller.
FCP is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties.

SPRING, TX – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announces the second groundbreaking from its new “build-to-rent” (BTR) division focused on single-family rental home neighborhoods. Construction is scheduled to begin in October at The Everstead at Windrose in Spring, Texas. The project will be pursued in a partnership with Principal Real Estate Investors.
“Landmark is excited to kick off our partnership with Principal, and we look forward to developing a first-class neighborhood with The Everstead at Windrose,” said President and CEO of Landmark Properties, Wes Rogers. “With nearly 30 BTR projects in the pipeline, our fully-integrated platform is well-positioned to quickly expand our single-family rental portfolio despite the distress in capital markets.”
The Everstead at Windrose, located at 7801 Farm to Market 2920 in Spring, Texas, will add 194 townhouses, single-family homes, and cottage-style homes to the Houston area’s rental offerings. The gated community will provide residents access to high-quality, shared amenities, including a resort-style swimming pool, fitness center, playground, grilling area, dog park, hammock garden, Bocce Ball court, and coffee bar. There will be on-site parking with several spaces dedicated to guests. The development will incorporate sustainable features and is expected to achieve the National Green Building Standard Bronze Certification.
The homes will include quartz countertops, stainless-steel appliances, large pantries, hardwood-style floors, full-size washers and dryers, ceiling fans, a walk-in closet for the main bedroom, and a backyard with private patio. Some units will feature 10-foot ceilings and an attached garage or storage room. Situated in the north Houston suburb of Spring, The Everstead at Windrose provides residents proximity to several retail and entertainment areas, including The Woodlands, Tall Pines Amphitheater, Market Street, and the Woodland’s Children’s Museum. The community is expected to be completed in 2024.
“The neighborhood where The Everstead at Windrose is being developed is near a master planned community with single-family homes, award-winning schools, and attractive retail amenities,” said Blair Sweeney, Managing Director of Development for Landmark’s build-to-rent division. “We are excited to provide residents and their families an opportunity to live in a single-family style home in a compelling location while enjoying amenities and service typical of a condominium community.”
“This project fits our strategy of providing a high-quality housing solution at a reasonable cost to individuals and families desiring the benefits of a single-family home experience with the financial flexibility of being a renter,” said Jim Halliwell, Managing Director, real estate, Principal Global Investors. “We are delighted to partner with Landmark who shares our vision of creating aesthetically pleasing communities and curating a top-tier customer experience, in conjunction with a commitment to sustainability.”

ARLINGTON, TX – Sentinel Real Estate Corporation announced that it has acquired Debbie Lane Flats, a 331-unit garden-style apartment community located in Arlington, Texas. The property represented an opportunity for Sentinel to acquire a stabilized newly-built luxury community in the desirable and rapidly growing Dallas-Fort Worth Metroplex.
Debbie Lane Flats consists of one-, two- and three-bedroom apartments, averaging 895 square feet per unit. The luxury residences are equipped with stainless steel appliances, quartz countertops, wood-style flooring, nine-foot ceilings, LED lighting, smart lock keyless entry, smart thermostats, full-sized washer/dryers, oversized garden-style tubs, walk-in closets, and private patios or balconies. In select units, there are extra storage closets, private yards, standing showers and dual-vanity sinks. Community amenities include a 24-hour fitness center, a resort-style pool and sundeck, outdoor grill stations, a gourmet kitchen, a business center, a cyber café, a 24-hour package locker with cold storage features, controlled access gates, bike racks, electric vehicle charging stations, a dog park and a valet dry cleaning service.
Debbie Lane Flats exemplifies our core investment strategy of acquiring high-quality stabilized assets in high-growth markets across the U.S., said Michael Streicker, President of Sentinel. In this case, Arlington is at the heart of one of the nation s fastest-growing employment centers, which consistently exceeds the national average for job growth. In the last year alone, employment in the Metroplex has grown by 7.2 percent, representing nearly 280,000 jobs, and is expected to grow 2.4 percent annually over the next five years. This job growth, combined with highly-rated school systems and quality of life factors, will support continued population growth and drive the long-term success of the asset.
Debbie Lane Flats is optimally located approximately 18 miles southeast of Fort Worth and 27 miles southwest of Dallas, and situated along the southbound lane of South State Highway, a major highway that runs north/south into downtown Arlington and connects to Ronald Reagan Memorial Highway, a major east/west thoroughfare. The property is within a 20-minute drive of a variety of the region s top employers, such as GM Financial, a General Motors SUV assembly plant and Poly America, as well as the headquarters of American Airlines, IKEA and Lockheed Martin. Additionally, the property is served by the highly rated Mansfield Independent School District.
Debbie Lane Flats is also located proximate to high-quality shopping, dining and entertainment options at Arlington Highlands and The Parks Mall at Arlington, with major retailers such as Kroger, Sprouts Farmers Market and Walmart Neighborhood Center supermarkets, as well as Best Buy, Target and Marshalls – among other name brand stores and restaurants – nearby. The community is within walking distance of Lloyd Park at Joe Pool Lake, which features camping, swimming, kayaking, canoe rentals and other recreational amenities. It is also located within a 15-minute drive of Six Flags Over Texas adventure park and the Texas Rangers and Dallas Cowboys stadiums.
Sentinel has been active in the Dallas-Fort Worth market throughout its 53-year history, having owned and operated 24 multifamily properties and six commercial properties in the area. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.