DENVER, CO – Turner Impact Capital, one of the nation s largest real estate investment firms dedicated to social impact, has expanded into the Denver metropolitan area with the acquisition of two multifamily housing communities as part of its commitment to address the country s urgent housing affordability crisis with an innovative, market-driven solution.
The 165-unit Silverbrook and 188-unit Canterra at Fitzsimons communities in Aurora are the latest investments by the newly launched Turner Multifamily Impact Fund III (TMIF III). The Fund now owns 836 units of high-quality workforce housing, following recent acquisitions in Las Vegas and Minneapolis, with more acquisitions to come. TMIF III is on course to raise up to $750 million of equity, unlocking more than $2.3 billion in investment potential to acquire existing, or develop new, affordable workforce housing communities in high-demand markets.
TMIF III is building upon the success of Turner Impact Capital s two previous housing funds, which together parlayed more than $650 million of equity into the preservation and enrichment of approximately $2 billion of housing for low- to moderate-income families while generating positive environmental impact and strong risk-adjusted returns for the firm s institutional investors. The Funds acquired, preserved, and enriched approximately 14,000 units in markets such as Chicago, Dallas, Las Vegas, Seattle, Austin, Washington, D.C., and more.
Amid continuing hardship for working families, we are accelerating our efforts to preserve access to high-quality affordable housing in major metropolitan areas, Turner Impact Capital CEO Bobby Turner said. We are delighted to bring our successful market-driven model to the dynamic Denver area for the first time through these new investments by Turner Multifamily Impact Fund III.
Both Aurora properties meet the Fund s criteria of providing affordable workforce housing in diverse, densely populated areas near job centers. Tenants generally earn up to 80% of Area Median Income, and include community-serving professionals such as teachers, police officers, healthcare workers and others who often earn too much to qualify for subsidized housing but struggle to afford higher-cost housing located near job centers. Turner Impact will soon offer tailored enrichment programs in areas such as education, health, and safety to enhance residents quality of life and satisfaction.
Silverbrook is a seven-acre garden-style community consisting of nine three-story residential buildings with 165 one- and two-bedroom apartments, a community swimming pool, outdoor grilling area, basketball court, and fitness center. Canterra at Fitzsimons is also a garden-style community whose two 12-story residential buildings have 188 one- and two-bedroom units. The 7.5-acre site includes a community swimming pool, resident clubhouse, outdoors barbeque spaces, and covered parking.
The properties are located in central Aurora, the third-largest city in Colorado, conveniently located 10 miles southeast of downtown Denver. The vibrant Denver-Aurora-Lakewood metropolitan area has one of the strongest job markets in the United States, and the two new Turner Impact communities are close to major employers such as Amazon, Denver International Airport, HealthOne, and telecommunications firm Century Link.
We look forward to serving our Aurora residents as we extend our impact to a new market where job growth and high demand for housing threaten to price working families out of homes near their workplace, said Gary Rodney, Managing Director of Turner Impact s Multifamily Housing Initiatives. Our model has a long track record of success delivering positive social and environmental benefits to our residents and the community.
Housing initiatives are a central feature of Turner Impact Capital s holistic, award-winning approach to impact investing in housing and two interrelated societal challenges: public education and community-based healthcare. The firm has raised over $1.9 billion in commitments since it was founded in 2014, putting it on course to surpass $5.7 billion in investment potential since inception. By harnessing market forces, Turner Impact offers durable solutions to improve lives and strengthen communities while delivering strong risk-adjusted financial returns for investors.

NEW ORLEANS, LA – 365 Connect, the leader in providing the most advanced automated marketing, leasing, and resident engagement platform for multifamily communities across the globe, announced today the company’s CEO, Kerry W. Kirby, will speak at the Multifamily Innovation & AI Summit. The event, catering exclusively to multifamily professionals, runs from December 4 – 5, 2024 in Phoenix, Arizona.
Launched by the founders of Multifamily Leadership, Patrick and Carrie Antrim, the Multifamily Innovation & AI Summit will feature important, relevant discussions conducted by leading experts from various fields within the industry. It has become a must-attend event for owners, operators, and corporate executives. The vision of the summit is to create an enriching environment where multifamily professionals can obtain the tools, strategies, and insights needed to drive their company’s growth in today’s fast-paced world.
Kirby will be speaking at multiple sessions, the first being held on December 4th at the nectarflow Innovation & AI Lab. Kirby will be joined by James W. Lancaster, Chief Product Officer at 365 Connect, the duo will lead two separate sessions to discuss the challenges and opportunities centered on the use of APIs in the multifamily housing industry. On December 5th, Kirby will participate in a distinguished panel to discuss, “Beyond the Numbers: Harnessing Technology and People to Future-Proof Real Estate Investments.” The conversation will delve into how digital transformation can drive the creation of a resilient and forward-thinking business model.
“We are honored to welcome Kerry back to our stage at this year’s Multifamily Innovation & AI Summit,” said Patrick Antrim, CEO of Multifamily Leadership. “Kerry is not just an accomplished entrepreneur and innovator, but a true trailblazer shaping the future of our industry. With an exceptional talent for challenging the status quo and driving meaningful change, he is a transformative leader and an influential voice across the technological landscape.”
Kirby, founder and CEO of 365 Connect, is a visionary technologist whose unrivaled ingenuity is revolutionizing the multifamily housing industry. Over the past two decades, he has transformed 365 Connect from a bootstrapped startup into an award-winning proptech leader. Renowned for his unparalleled contributions to technology and innovation, Kirby has earned numerous global accolades, solidifying his reputation as one of the industry’s most influential changemakers.
“Multifamily housing operators are rapidly advancing the transformation of their workflows to streamline cost structures,” said Kirby. “Our industry must understand the commitment needed to drive innovation and reimagine business models that can thrive in today’s dynamic economic environment. I’m thrilled to share my insights at the premier thought-leadership platform in our field, the Multifamily Innovation & AI Summit.”

PORTLAND, OR – BRIDGE Housing acquired an affordable housing community outside of Beaverton, Oregon, preserving 340 apartments that soon face a potential transition to market-rate rents as low-income housing for the long term.
Bethany Meadows consists of income-restricted one- and two-bedroom apartments for households earning 60% of Area Median Income in a growing community near Beaverton, in the Portland Metro Area. Affordability restrictions on the units had been set to expire in 2-3 years.
The acquisition marks the latest investment by BRIDGE Housing to preserve the long-term affordability of housing in communities throughout the West Coast. Preservation is an increasingly important affordable housing strategy as low-income covenants established decades ago are set to expire on thousands of properties.
BRIDGE Housing, the leading nonprofit affordable housing developer and manager on the West Coast, is a mission-driven organization seeking to increase access to affordable housing in a region that is home to some of the costliest housing markets in the United States.
BRIDGE s portfolio exceeds 13,600 units across more than 130 properties in California, Washington and Oregon with a total development cost of more than $3.5 billion. More than 30,000 people live in BRIDGE communities from San Diego to Seattle.
By permanently preserving the affordability of Bethany Meadows, we are advancing our mission and benefiting hundreds of families in a meaningful way for years to come, said Ken Lombard, BRIDGE Housing President and CEO. We are actively pursuing many development and preservation opportunities, with the goal of allowing more residents to enjoy the dignity of a home they can afford. If you own a property with affordability covenants that are nearing expiration, we want to hear from you.
Bethany Meadows is a garden-style complex, with two- to three-story buildings across two separate phases. Phase I, built in 1997, has 208 units. Phase II, built in 1998, has 132 units. BRIDGE purchased both phases, as well as 577 surface parking spaces. The adjacent properties are located in a prime neighborhood close to job centers, public transit, and high-performing public schools. Amenities include a clubroom, fitness center, pool, and spa.
BRIDGE Housing s investment was supported by an innovative financing arrangement with Morgan Stanley and National Equity Fund that provides a $250 million revolving credit facility, enabling BRIDGE to move quickly to acquire and preserve affordable housing. By using private equity and debt, the strategy reduces the time and complexity of traditional affordable housing finance, in which multiple partners must apply for government tax credits.
Since 1983, BRIDGE has been an innovative leader in affordable housing on the West Coast by creating strong communities, improving residents lives, and delivering positive social impact. BRIDGE is currently accelerating its growth plans, harnessing both ground-up development and opportunistic acquisitions to significantly extend its reach. More than 10,800 affordable apartments are in the development pipeline, and additional acquisitions are planned over the coming weeks to permanently preserve more affordable units in high-cost regions.
Our talented BRIDGE team and our many partners are making tremendous strides in delivering affordable housing efficiently and sustainably, along with high-impact resident services, said Executive Vice President Sierra Atilano, BRIDGE s Head of Development. We are accelerating our work in both development and acquisition as we seek to significantly expand our portfolio in the West. We are excited to continue accelerating our work at scale to make a meaningful, lasting difference for families and communities.”

SAN MARCOS, TX – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Capital Area Housing Finance Corporation (CAHFC), announced the opening of Centro35, a 330-unit affordable housing community in San Marcos, Texas. The development provides high-quality, amenity-rich housing to residents earning up to 60 percent of the Area Median Income (AMI).
San Marcos is at the heart of one of the nation s fastest-growing corridors, and we recognize Central Texas as a critical area for investment, said Max Whipple, Vice President of Development at The NRP Group. Centro35 reflects our commitment to addressing the area s affordable housing needs while providing residents convenient access to job markets along I-35.
Located at 508 Labrador Boulevard, just off the central I-35 corridor, this development offers convenient access north to Austin and south to San Antonio. Within a ten-mile radius are major employment hubs in San Marcos, including the Amazon Fulfillment Center, Texas State University, and one of the largest Tanger Outlet Malls, providing residents with ample nearby job opportunities.
Centro35 is a testament to our mission to provide quality affordable housing for working families and young professionals in San Marcos, said Jim Shaw, Executive Director at Capital Area Housing Finance Corporation (CAHFC). With this project marking our fifth partnership with The NRP Group, we re proud to play a pivotal role in fostering vibrant communities where residents have access to comfortable, affordable homes that meet their needs.
Centro35 will accommodate both working professionals and growing families, with floorplans that include one-to-four-bedroom units. In partnership with the nonprofit Community Housing Resource Partners, Centro35 has a dedicated activity room to host resident services such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program, English as a Second Languages courses and more.
The development will feature best-in-class amenities including a resort-style swimming pool, 24-hour fitness center, and conference center with individual work pods for remote work. Additionally, family-friendly amenity spaces will include a children s activity room and a game room.
As San Marcos continues to grow, it is essential that we provide affordable housing options for all members of our community, said Hays County Commissioner Debbie Gonzales Ingalsbe. Centro35 offers more than just housing—it delivers vital services and amenities like family-friendly gathering spaces, ensuring residents have everything they need right at their fingertips. Developments like this strengthen our community by further fostering a thriving community.
This fully affordable housing community was financed with tax credit equity from Huntington Community Development Corporation and permanent financing provided by Bellwether Enterprises and Deutsche Bank.
The NRP Group has developed more than 30,000 units in Texas. Centro35 is the company s third development in the City of San Marcos, comprising nearly 1,000 units.

DORAVILLE, GA – S2 Capital, a national vertically integrated multifamily investment manager, announced its acquisition of The Landing at Pleasantdale. The property comprises 618 garden-style apartments in 72 buildings in an attractive, tree-filled, gated community on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb. It was acquired through CBRE in an off-market direct transaction. Other terms of the transaction were not disclosed.
“Leveraging ALVA, our internal Data & Analytics platform, S2 has built conviction in the NE Atlanta submarkets,” said Scott Everett, CEO of S2 Capital. “Data suggests an inversion of the supply-demand imbalance, leading to significant positive absorption for Atlanta in conjunction with the first positive YoY occupancy gain in Q324 since Q122. Additionally, current effective rents sit $280 below comparable market properties, having witnessed a -12% drop in rents onsite YoY while surrounding comps have increased +1%, giving S2 conviction in their ability to execute their value-add business plan and deliver a superior living experience to tenants.”
Michael Bippus, VP of Acquisitions at S2 Capital, said, “We have invested in more than 1,400 units in four properties in northeast Atlanta within five miles of Pleasantdale, and a fifth property nine miles northwest in Sandy Springs, and continue to seek opportunities to build our portfolio to increase our operational economies of scale. We will complete a value-add renovation program at Pleasantdale that has proven successful for the other assets in our portfolio.”
Pleasantdale is convenient to I-85 and is a 30-minute drive to Atlanta. Doraville also has train service to both Atlanta and the Hartsfield-Jackson International Airport, about 25 miles southwest. Close by Doraville are top universities, including Emory University and Georgia State University, and employers such as Delta Air Lines, Amazon, Primerica, Americold, KIA Motors and Northside Hospital. The expansion of industrial parks along I-85 is expected to fuel job creation, with projections the region could see an increase of over 50,000 new logistics and transportation jobs in the next decade.
The spacious residences at Pleasantdale offer one, two and three-bedroom options, up to 1,543 square feet, with vaulted ceilings and washer/dryer connections. The apartments also include a private patio or balcony, fireplace, large closets and extra storage. Exterior amenities include a unique covered recreational dome, soccer field, pool, fitness center and dog park. Peachtree Creek runs adjacent to the property, and within a short distance is Murphey Chandler Park and Brook Run Park. Pleasantdale is also surrounded by a variety of retail, dining, and entertainment choices in Chamblee, Brookhaven, and Perimeter Mall.
Approximately 10% of the units at Pleasantdale have been fully renovated, and S2 plans to renovate the remaining 90% of classic units to compete with comparable renovated properties in the submarket, and to provide residents with a superior living experience. Interior renovations will include stainless steel appliances, granite countertops, upgraded lighting and new flooring. Exterior renovation plans will feature extensive upgrades across the property.

MANCHESTER, NH – Jones Street Investment Partners, a private equity real estate firm focused on multifamily assets located throughout the Northeast and Mid-Atlantic regions of the U.S., hosted a ribbon cutting ceremony at 75 Canal, its new 250-unit Class-A multifamily community located in the heart of downtown Manchester, NH. The celebration included comments from Jones Street CEO Matt Frazier and Mayor Jay Ruais, in addition to representatives from the Greater Manchester Chamber and Jodie Nazaka, Director of the Manchester Economic Development Office.
75 Canal, which broke ground in late 2022, brings much needed high-quality housing to the Manchester area and features a mix of studio, one-, two-, and three-bedroom apartments as well as approximately 2,000 square feet of retail space along Canal Street. The highly amenitized community features a lobby-level fireside lounge, rooftop terrace, work pods, a social lounge and TV parlor, game room, fitness center, two outdoor courtyards, a pet spa and a 207-car parking garage inclusive of dedicated motorcycle parking and EV charging stations. The apartments boast in-home laundry, high-end finishes, and oversized windows; select units feature 12-foot ceilings, kitchen islands with grand pendant lighting, and skyline views.
We are glad to gather with our friends, colleagues and collaborators to celebrate the opening of 75 Canal, a marquee project for our organization that brings much needed housing to a severely supply constrained market, said Matt Frazier, founder and CEO of Jones Street. The successful completion of 75 Canal not only advances our investment strategy, but it also demonstrates our development capabilities, which are a core part of our growth plans. We look forward to delivering an exceptional living experience to our residents and operating as a responsible partner to the Manchester community.
In addition to its diverse range of rental units, 75 Canal also features approximately 2,000 square feet of ground floor retail. The community is highly walkable to a variety of retail, restaurant, and entertainment options in downtown Manchester. It is also ideally situated within walking distance to the University of New Hampshire and South New Hampshire University as well as several of the city s largest office buildings, including those of Oracle, TD Bank, United Health Care, Bank of America, and New York Life. 75 Canal also offers easy access to Boston and Concord via I-293 and I-93.
Manchester, NH is the largest economic center in northern New England, boasts a rental market defined by exceptionally high occupancy and strong rental growth rates, and was named the 9th Best Metro Area in the country by the Wall Street Journal due to a combination of low unemployment rates and high affordability and economic growth.

AUSTIN, TX -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Housing Authority of the City of Austin (HACA), announced the opening of Bridge at Estancia, a 318-unit affordable housing community in Austin, Texas. The development provides quality, amenity-rich housing for residents earning up to 60 percent of the Area Median Income (AMI).
Bridge at Estancia is a pivotal project in our ongoing effort to provide affordable housing to Austin s residents, said Nick Walsh, Vice President of Development at The NRP Group. As Austin s growing jobs market and vibrant culture continue to drive demand for housing, we re excited to partner with the Housing Authority of the City of Austin to contribute to this master-planned community. This development not only addresses the growing need for affordable housing in Travis County, but it also supports the local economy through further job creation and access to essential services.
Located at 1100 Avenida Mercado Street, near the intersection of Interstate 35 and State Highway 45, Bridge at Estancia offers easy access to downtown Austin and is part of the Estancia Hill Country master plan, a 600-acre mixed-use development. The community sits adjacent to the planned Texas Children s Hospital, as well as future commercial and retail spaces, and additional housing developments.
This development is a major milestone in ensuring Austin remains an inclusive city where everyone has access to affordable housing, said Michael Gerber, President and CEO of HACA. The location offers easy access to downtown Austin, and it s part of a master-planned community that will serve as a foundation for families to thrive. Developments like this are critical to keeping Austin affordable for those who live and work here.
Designed by HEDK Architects, Bridge at Estancia features a mix of one- to four-bedroom units, catering to both individuals and growing families. Apartments include private patios or balconies, high ceilings, vinyl plank flooring, and fully equipped kitchens with quartz countertops and recessed lighting.
In partnership with the nonprofit Community Housing Resource Partners, Bridge at Estancia has a dedicated activity room to host resident services such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program, English as a Second Languages courses and more. Best-in-class amenities include a swimming pool, fitness center, multiple playgrounds, and walking trails integrated into the wider Estancia Hill Country trail network.
The 15-acre site features two four-story buildings, two three-story walk-ups, and a two-level parking garage. Residents will enjoy outdoor spaces such as an open courtyard, barbecue grills, and an outdoor pool with a sundeck. Additionally, a large coworking space filled with natural light offers computers, desks, and comfortable reading nooks ideal for remote workers and students.
This fully affordable housing community was made possible by a $20 million housing tax credit investment from Hudson Housing Capital, along with construction and permanent financing provided by Bellwether Enterprises and Deutsche Bank.
The NRP Group was recently ranked among the top three multifamily developers by the Austin Business Journal, with more than 7,500 apartment homes across 25 developments in the Austin area. Earlier this year, NRP delivered The Markson, a 330-unit mixed-income community, with several hundred more units currently in development.

FREDERICKSBURG, VA – Watercrest Senior Living Group and partners, Harbert Seniors Housing Fund II, LP and Centric Development announced the development of Watercrest Fredericksburg Assisted Living and Memory Care in Fredericksburg, Virginia. The 142-unit luxury senior living community, financed by Carter Bank & Trust and under construction by Centric Development, is scheduled to welcome residents in late Spring 2025.
Watercrest Fredericksburg will offer 106 assisted living and 36 memory care apartments with resort-style service and world-class care. The architecture and design will boast a stunning promenade, fireplace lounge, multiple dining options, theater, library, billiards, spacious courtyards with fountains and Watercrest’s premier Spa W.
“We are thrilled to announce our further Southeastern expansion with a second Watercrest community in the state of Virginia,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “This partnership provides an opportunity to honor a greater number of seniors by establishing an exceptional Watercrest product in the esteemed community of Fredericksburg.”
Watercrest principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting exceptional standards of quality for seniors and their families in the development of upscale senior living communities from South Florida to Virginia. Watercrest and Harbert Seniors Housing Fund II also developed Watercrest Richmond Assisted Living and Memory Care which opened in May 2023 in Richmond, Virginia.
Construction is currently underway at Watercrest Fredericksburg, conveniently located at 4525 Spotsylvania Parkway. Fredericksburg is ideally situated between Richmond, Virginia and Washington D.C., boasting historical sites, hiking trails, art galleries, specialty retail shops and charming chef-owned restaurants and craft breweries.

ST PETERSBURG, FL – Olympus Property announced the acquisition of 930 Central Flats, a 218-unit luxury apartment community located in the heart of Downtown St. Petersburg, FL. Completed in 2019, this six-story mid-rise community exemplifies premium urban living and represents a significant addition to Olympus Property’s portfolio.
With a strong track record of success in the multifamily real estate sector, Olympus Property continues to expand its portfolio with the acquisition of 930 Central Flats, further building its presence in key growth markets. This acquisition marks Olympus’ second in the Tampa Bay area, bringing its Florida portfolio to over 5,500 units across owned and managed properties. Established in 1992, Olympus Property has grown to own and manage approximately 34,000 units across 16 states, driven by a hands-on approach and a commitment to delivering exceptional living experiences. Leveraging its extensive experience and operational expertise, Olympus is well-positioned to ensure strong performance at 930 Central Flats, while consistently providing value to both residents and investors.
Situated in the sought-after Central Avenue entertainment corridor, 930 Central Flats offers residents a prime live-work-play environment. Its walkability and proximity to major employment centers, entertainment venues, and retail options make it a highly coveted address in the Southeastern United States.
“The acquisition of 930 Central Flats is a significant milestone in expanding Olympus Property’s presence in one of Florida’s most dynamic urban markets,” said Chase Bennett, Chief Acquisitions Officer at Olympus Property. “The property’s unmatched location and upscale amenities align seamlessly with our long-term investment approach. Its proximity to Olympus Harbour Island, another key asset in our portfolio, further strengthens our presence in the Tampa Bay area. We are excited to add 930 Central Flats to our portfolio and continue delivering the exceptional living experiences our residents have come to expect.”
930 Central Flats is ideally located adjacent to the highly anticipated $6.5 billion Gas Plant District redevelopment, a transformative project expected to create 5,500 jobs and contribute $1.4 billion annually to the local economy. With easy access to major highways, including I-375, I-275, and I-175, the property offers a convenient commute to key employment centers throughout the Tampa Bay area, connecting residents to over 390,000 jobs within a 25-minute drive. Boasting a 97 Walk Score, the property offers a pedestrian-friendly lifestyle with direct access to Central Avenue’s retail and entertainment options, including over 580 restaurants, bars, and shops.

FORT COLLINS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for The Quarry, a Class A multifamily community near the main campus of Colorado State University. The first residents began moving into the 319-unit Class A multifamily community in April and Thompson Thrift expects construction to be completed during the first quarter of 2025.
“The Quarry provides an appealing rental option for residents desiring the style, luxury and convenience that Thompson Thrift communities are known for,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Our team is excited to deliver an excellent experience in an environment our residents will be proud to call home.”
The Quarry is located at the southeast corner of Shields Street and Hobbit Street. The 20-acre community offers a mix of one-, two- and three-bedroom apartment homes in three- and four-story buildings, as well as 10 single-family villa structures and detached garages. In addition to its proximity to Colorado State, residents have easy access to Fort Collins’ vibrant and growing downtown district known as “Old Town Fort Collins,” as well as the city’s 36,000 acres of natural land for walking, hiking, and biking.
At the ribbon cutting, visitors were able to view models showcasing high-end interior features such as gourmet bar kitchens with quartz countertops and designer backsplashes, walk-in closets and full-size washers and dryers, as well as private outdoor spaces with fenced-in yards that are available with some homes. Additionally, they were able to preview the community amenities, including a professionally decorated clubhouse, 24-hour fitness center, resort-style swimming pool with cabanas, community garden, and fitness trail.
In support of Thompson Thrift’s commitment to community outreach, they presented a check to local non-profit Homeward Alliance. Homeward Alliance envisions a community in which homelessness is rare, short-lived and non-recurring. They bring together multiple agencies and provide a one-stop shop for their clients with a continuum of programs and initiatives for families, adults, and seniors, such as basic needs, housing-focused case management and employment services.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.