ROUND ROCK, TX – Halstatt Real Estate Partners, a real estate private equity firm, announced the opening of Stillwell at Avery Centre, marking the third project to open to residents within the three-project build-for-rent portfolio in partnership with Coastal Ridge Real Estate. The portfolio encompasses 729 total units, and each development is located within a master-planned community that allows residents to benefit from existing infrastructure and lifestyle amenities.
Stillwell at Avery Centre, located in Round Rock, Texas, within the Austin MSA, includes 225 homes comprised of 66 one-bedroom, 108 two-bedroom, 28 two-bedroom two-story, and 23 three-bedroom luxury single-family for rent residences. The property opened for operations in April 2024.
The one-bedroom units are attached duplex-style homes, while the two- and three-bedroom units are detached single-family residences. All residences have private first floor entryways and private fenced backyards with patios and offer flexible parking options including open parking as well as covered and garage parking options. The property is near several medical and educational campuses within Avery Centre, including Texas A&M Health Science Center, Texas State University, Austin Community College, and Ascension Seton Williamson Hospital.
“We are thrilled to see our vision come to life with the opening of these communities, which epitomize our commitment to creating high-quality, attainable housing in strategically chosen locations. These developments not only enhance the living experience for our residents with exceptional amenities and thoughtful design but also reflect our dedication to addressing the growing demand for diverse housing options across the country,” said Steve Iannaccone, principal, Halstatt Real Estate Partners. “Partnering with Coastal Ridge Real Estate on these developments has combined our collective expertise and vision, and we look forward to the continued success of these projects and our ongoing collaboration.”

JACKSONVILLE, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of Terrassa, a 324-unit Class A multifamily community located in the growing market of St. Augustine in St. Johns County. The company expects to begin construction in July, with completion expected in fall 2026.
“St. Johns County is one of the most desirable counties to live in Florida, and is renowned for its excellent schools, strong income levels and impressive home values,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Securing approval for new developments is becoming increasingly challenging, but our team’s proven track record and commitment to excellence have allowed us to secure a prime spot in this highly desirable county.”
Terrassa is part of the redevelopment of the former St. Augustine Outlets property off I-95 and will provide 324 one-, two- and three-bedroom apartment homes offering up to nearly 1,400 square feet of living space. Residents will have convenient access to the area’s pristine beaches as well as a variety of local entertainment, shopping and dining options.
Like all Thompson Thrift communities, Terrassa will feature superior, in-demand amenities that demonstrate the company’s dedication to quality. Kitchens will include stainless steel appliances, a smooth glass-top range, side-by-side refrigerator, tile backsplashes, a pantry and hardwood-style flooring. Large walk-in closets, bathrooms with a walk-in shower, detached garages, a full-size washer and dryer and private patio, balcony or yard options add to the list of features.
Additionally, certain upgraded homes will feature accent-colored island cabinetry, premium quartz countertops, a dry bar, under-cabinet lighting and deluxe closet systems with shelving.
High-speed internet access will ensure seamless connectivity for residents while energy-efficient LED lighting and a smart thermostat will help residents save on energy costs. Smart light switches and door locks will provide convenience with an Alexa-compatible smart hub to easily control the devices.
Community amenities will include a 24-hour fully equipped fitness center, a resort-style swimming pool, courtyards, community grilling areas, a pickleball court, an on-site dog park and pet spa with a grooming station. The 24-hour social hub will feature billiards, a coffee bar, private focus rooms and work area with a printing station.
St. Augustine is the oldest city in the United States and maintains a strong Mediterranean architectural influence. The name Terrassa comes from a city in Spain, and Thompson Thrift has taken care to incorporate Mediterranean accents in its design to further connect with the community.
Brian Timberman, president of Thompson Thrift Construction, added, “We are excited to break ground on another Thompson Thrift community, and our construction team looks forward to seeing this project through to on time completion.”
St. Johns County is the wealthiest county in Florida and one of the fastest-growing counties both in Florida and the United States. The county’s population grew 40% during the past decade and is expected to add 100,000 residents by 2030. The Terrassa site is located in a very high-growth pocket of the county and will offer easy access to major employers such as Bank of America/Merrill Lynch, Saddle Creek Logistics, the St. Johns County School District, Citi and Florida Blue.

CHARLOTTE, NC – Rise48 Equity, a leading multifamily investment group, announced their recent acquisitions of W Flats Apartments (247 units) and Matthews Pointe Apartments (100 units) in Charlotte, NC. Both properties will be rebranded to “Rise Blue Ridge” and “Rise Matthews Pointe,” respectively and are located in premium submarkets within the Charlotte MSA.
These acquisitions mark a significant milestone as the company’s 52nd and 53rd acquisitions since 2019 and its first two deals in the Charlotte MSA, expanding their footprint to the East Coast.
Rise48 Equity has plans to revitalize W Flats Apartments and Matthews Pointe Apartments with an investment of over $7 million. Property renovations at both properties will include: Platinum-level interior upgrades: New white cabinet boxes with shaker doors, quartz countertops, subway style kitchen backsplash, plumbing fixtures, stainless steel appliances, vinyl plank flooring, and updated lighting. Transformative exterior: Fresh 3-tone paint, a new LED-backlit monument sign, and improved marketing banners.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have entered the North Carolina market with these two new acquisitions. North Carolina has been a market that we’ve been targeting for a while due to its strong fundamentals of population growth, job growth, and strong median income relative to the affordable rents. We have strong local staff and the foundation to scale in the market for years to come. Thank you to all of our investors for partnering with us on these two great opportunities. Our Charlotte team has already started on the business plans for these two assets.”

HOLLY SPRINGS, NC – Vista Residential Partners, a national multifamily development firm, has broken ground on 11.7 acres on the corner of N. Main Street and Holly Springs Road in Holly Springs, NC, for the development of Main Street Vista, a 277-unit mixed use community.
Located in the heart of Holly Springs, Main Street Vista is a mixed-use development with +/- 19,000 SF of vertically integrated retail space and 11,000 SF of live-work space that will be within walking distance of downtown Holly Springs.
Main Street Vista is conveniently located minutes from soon to be completed I-540 extension providing access to various job centers throughout the metro. Additionally, minutes from this site is the Holly Springs Bio-Tech Corridor which has seen recent investment to the tune of $4B and the creation of over 2,300 jobs. FujiFilm is currently under construction with the first phase of their $2B biotech campus which will be delivering within the year. Other notable names in this corridor include Catalyst, BioCampus, Amgen and Seqirus.
“We are incredibly excited to start construction on this landmark development in Holly Springs,” says Alex Barroso, Managing Director and Regional Partner for Vista Residential Partners. “Vista is dedicated to establishing our portfolio across the Carolinas and I cannot think of a better way to make our introduction than with this unmatched mixed-use development.”
Located less than 1 mile from the project is the newly opened UNC Rex Holly Springs Hospital which is home to 50 new beds and 450 employees.
The community will offer a mix of one-, two-, and three-bedroom apartment homes averaging almost 1,050 square feet. Select units will also have a ground floor office space available for lease to prospective tenants who desire to work from home. Designed by architect Niles Bolton, the garden-style apartments will feature elevator served conditioned corridors, stainless steel appliances, 9-foot ceilings, quartz countertops, vinyl plank flooring, in-unit washers and dryers, and spacious balconies. Main Street Vista will also feature a luxury clubhouse, resort-style swimming pool, fitness center, a large central green area and pet park, 24/7 package concierge, and more.
“Alongside our institutional capital partners, Vista is excited to deliver this high-quality, mixed-use development in Holly Springs, NC,” says Scott Hartley, Chief Investment Officer at Vista Residential Partners. “Main Street Vista’s finish-quality and amenity-set will set a new standard for living in the area.”

DUBLIN, CA – Cityview, a premier multifamily investment management and development firm, has acquired Tralee Village Apartments in Dublin – California s fastest growing city. The three-story, 130-unit multifamily project is spread across two buildings and sits above more than 30,000 square feet of curated ground-floor retail, including eateries and service-focused shops.
Tralee Village was a prime opportunity to acquire a well-located, high-quality asset in a highly sought-after submarket that has experienced significant population and employment growth since the pandemic, said Sean Burton, CEO of Cityview. With a 95% average historical occupancy and robust market fundamentals, Tralee Village fits squarely in our strategy of acquiring communities in supply constrained markets with high barriers to entry at significantly below replacement cost.
Originally built in 2011, the community offers spacious one-, two- and three-bedroom floorplans featuring open concept layouts, in-unit washers and dryers, granite countertops, USB outlet ports, modern custom-wood cabinetry in two styles, central heat and air, large closets, 9-foot ceiling heights and stainless-steel appliances. Select units also feature vaulted ceilings, floor-to-ceiling windows and large balconies.
Cityview is planning a comprehensive renovation of the interiors and common areas, including new unit flooring, lighting, kitchen and bathroom countertops and accessories.
Tralee Village residents have full access to community amenities including ground-floor retail, a resort-style pool and spa, high-end fitness center, clubhouse, business center, courtyard and BBQ area, playground, parcel lockers, bike storage and ample garage parking.
Located at 6599 Dublin Boulevard, Tralee Village is ideally located in the Tri-Valley, which is increasingly recognized as the Bay Area s premier business ecosystem. Its centrally accessible location, relatively affordable office rents and highly educated workforce continues to attract innovative start-ups and well-established companies including 10X Genomics, Chevron, Workday, Oracle, Tesla, General Electric, SAP, Snowflake, TriNet and Accenture.
Combining urban conveniences with suburban comforts, Dublin is located just 35 miles east of San Francisco and features highly rated public schools, 24 community parks, nearly 800 acres of open space and a wide array of cafes, restaurants and shops. The city is currently undergoing a vast mixed-use and pedestrian-oriented transformation as the Downtown Dublin Preferred Vision comes to fruition.
With a 58% population increase from 2010 to 2020, and 10,000+ new residents expected by 2033, Dublin s multifamily market is experiencing growing demand and shrinking supply, making this a prime area for investment, added Burton. We look forward to reimagining Tralee Village and elevating its design, finishes and amenities to rival new Class A communities.
Conveniently situated at the intersection of I-580 and I-680, Tralee Village residents have easy access to the West Dublin/Pleasanton BART station as well as the nearby employment hubs of Silicon Valley, San Francisco, Oakland, Berkeley, Walnut Creek and the Peninsula.
Jason Parr at Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.

DALLAS, TX – Toll Brothers Apartment Living, the rental division of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, in partnership with Equity Residential, announced the opening of Lyle. Located at 17727 Addison Road in Dallas, Texas, this new community features 334 apartment residences and an immersive collection of amenities and offers convenient access to exciting destinations in Dallas and beyond. Lyle s construction, financed by a $55.6 million construction loan from Santander Bank, N.A., commenced in 2022.
Lyle s apartment homes were crafted to create a serene, chic retreat and include a mix of spacious studio, one-, two-, and three-bedroom floor plans. The residences are replete with sophisticated features and finishes, including kitchens with quartz countertops and tile backsplashes, modern flat panel cabinetry, and hardwood-style flooring in the living areas. Residents will find homes designed to exceed their expectations, with features including custom roller shade window treatments and oversized closets with built-in storage and shelving. In addition, each apartment home is outfitted with smart home technology, including keyless entry and smart thermostats. Select residences also include private balconies, terraces, or fenced-in yards.
Lyle s upscale amenities include options for both social gatherings and individual pursuits. Outdoor spaces include a luxury resort-style pool with sundeck and a courtyard with lounge seating, ping pong, and lawn games. The sky lounge with connecting outdoor terrace offers an entertainment kitchen, lounge seating, and expansive city views. Residents can support their active lifestyles with Lyle s fitness center, with state-of-the-art strength and cardio equipment as well as flex studios. An immersive coworking lounge, featuring a Starbucks Serenade coffee bar, provides residents with both private options as well as conference room space. The community was constructed to meet LEED Gold certification standards, and the parking garage includes EV charging stations.
We are thrilled to open our newest luxury community in Dallas with Equity Residential, said John McCullough, President of Toll Brothers Apartment Living. The Dallas market continues to be a hub for tremendous growth, and Lyle represents our continued commitment to delivering first-class multifamily communities in highly desirable locations.
Striking a balance between urban and suburban, Lyle is perfectly positioned with easy accessibility to the Dallas North Tollway. Residents can explore the diverse dining, shopping, and entertainment options of North Dallas, while only a short drive to the best of both downtown and the surrounding area. Lyle is located in the highly rated Plano Independent School District and boasts a WalkScore® of 71.
Lyle s sophisticated design offers an elevated living experience to residents, and its premier location affords easy access to both the lifestyle destinations as well as the major employment centers of Dallas and beyond, said Tommy Rhodus, Managing Director of Toll Brothers Apartment Living in the Central region.
Lyle is one of three new communities opening in Texas this year as part of a strategic development partnership between Toll Brothers Apartment Living and Equity Residential.

CONSHOHOCKEN, PA – Morgan Properties, the nation s largest private owner of multifamily communities, announced that it has acquired an 11-property portfolio of apartments located throughout the state of Pennsylvania from the original developer and owner – The DePaul Management Company.
Totaling 3,434 units in the suburbs of Philadelphia and Pittsburgh, the Lehigh Valley, Reading, and the state capital of Harrisburg, this acquisition significantly increases Morgan Properties presence in its home state. Morgan Properties now owns and manages over 14,000 units and 56 communities in Pennsylvania, and 350 communities nationwide.
“As Morgan Properties continues to expand its national footprint, we remain deeply committed to our Pennsylvania roots,” said Jonathan Morgan, President of Morgan Properties JV. “The DePaul acquisition directly supports our strategic goal of acquiring large multifamily portfolios with high barriers to entry where our market concentration will enable us to achieve operational efficiencies and capitalize on economies of scale. We look forward to maximizing these assets through our professional management expertise and executing our value-add repositioning strategy.”
Morgan Properties plans to invest over $80 million in physical upgrades to the communities over the coming years to enhance the resident experience. Capital plans will address kitchen, bath, and common area renovations, installation of in-unit washers and dryers, lighting, security, and landscape improvements, roof replacements and parking lot repairs, and the installation of high-efficiency heating systems. Additionally, amenity and common area enhancements will include fitness center upgrades and expansions, installation of exterior dog parks and pet wash stations, Amazon package hubs, playgrounds, pickleball courts, and outdoor grilling islands.
Morgan Properties maintains a strategic and opportunistic approach to our acquisitions, said Jason Morgan, President of Morgan Properties Special Situations and Principal. Our team utilizes proprietary data from our existing portfolio to make calculated bets on where to invest and the DePaul portfolio is located in high-density submarkets where we have a track record of success. We look forward to executing our operational and capital improvement programs to create an exceptional living experience for the thousands of residents who call these communities home.
Matthew Stefanski and Zachary Pierce of Berkadia’s Philadelphia Office brokered the transaction.

WASHINGTON, DC -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Marshall Heights Community Development Organization, Inc. (MHCDO), has closed on construction financing for Emblem, a 115-unit, entirely affordable housing community in the middle of the thriving NoMa and Union Market neighborhoods. The community will be entirely reserved for families and individuals earning up to 30% and 50% of the Area Median Income (AMI).
Breaking ground on Emblem is a resounding win for affordable housing in Washington D.C., said Chris Marshall, Vice President of Development at The NRP Group. Together with our dedicated partners, NRP and MHCDO have set the standard for bringing deeply affordable housing to a high-profile, high-opportunity neighborhood. Emblem has been designed to provide housing for the District s working professionals, particularly service and hospitality professionals who might otherwise endure long commutes from home to work. This community will enable them to live closer to work as well as the area s many walkable amenities, while also fostering a spirit of inclusivity within the neighborhood.
Located at 301 Florida Avenue NE, Emblem will be built on a triangular 2/10-acre site in the heart of the District and just over one mile from the U.S. Capitol Building. Future residents will be within walking distance of the city s Metro system and two high-frequency bus lines, allowing easy access to employment, education and recreation opportunities.
The 13-story, flatiron apartment building is immediately adjacent to the Union Market District, home to renowned dining, trendsetting boutiques and dynamic nightlife. The building is also within walking distance of several grocery stores, high-performing schools and the Metropolitan Branch Trail serving commuters and recreation-seekers alike.
Emblem represents Washington D.C.’s efforts to address the long-standing need for affordable housing and ensure its equitable distribution across all Wards, said Babatunde Oloyede, president and CEO of Marshall Heights Community Development Organization. This new community will both enhance the neighborhood s dynamic atmosphere and provide much-needed affordable housing. MHCDO has served under-resourced neighborhoods in D.C. for over 45 years and is honored to collaborate with The NRP Group on this project, setting a precedent for quality affordable housing in high-opportunity neighborhoods.”
Mayor Bowser has charged all of us across the public and private sectors to work together to create affordable housing throughout DC, especially in high-opportunity neighborhoods, said Deputy Mayor Albert. Emblem is an exciting new project that will welcome residents to this growing and vibrant area of our city.
“It can take a variety of financial resources layered upon one another to create new affordable housing units, said Colleen Green, Director of the DC Department of Housing and Community Development. In the end, it s worth it when projects like Emblem produce new affordable rental units for District residents with nearby amenities that can aid in their quality of life. One of our goals when investing in an affordable housing project is to ensure that District residents can stay in the city.
Emblem represents the 21st project in the DC Housing Finance Agency s risk share portfolio and the first transaction that we have completed with The NRP Group and NRP s first affordable housing deal in the District, said Christopher E. Donald, Executive Director, and CEO of the DC Housing Finance Agency. We are excited to work with them on the continued transformation of the NoMa neighborhood. The project will add deeply affordable units to a rapidly growing and changing neighborhood to ensure that economic and social diversity can continue to exist.
A variety of on-site amenities will be available to Emblem residents, including a dedicated toddler playroom, an oversized bike storage room, and a multi-purpose community room. The community center will serve as a hub for resident services and events, fostering a sense of community and providing a space for gatherings, workshops and other activities that promote resident engagement and well-being. Resident service workshops will include targeted financial service training as well as entrepreneurship and economic mobility programming for individuals striving for self-sufficiency, ensuring they have the tools and support necessary to thrive.
Emblem’s financial partners include DC Housing Finance Agency (DCHFA), Department of Housing and Community Development (DHCD), DC Housing Authority (DCHA), DC Green Bank, and Bank of America. The development team is grateful for the timely and responsible reviews from DC Water, the DC Department of Buildings, and the District Department of Transportation to ensure that this project started construction within the necessary timeline.
Construction will begin in 2024, and Emblem is expected to be completed in 2026.

ATLANTA, GA – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of The Levi, a 212-unit Class A multifamily community located in the Atlanta suburb of Stockbridge in Henry County.
“With its central location along the I-75 corridor, Henry County serves as a major conduit between Atlanta, Savannah and Florida and has seen tremendous population growth in recent years,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Despite a competitive landscape with significant barriers to entry, our team’s deep experience and unwavering commitment to quality enabled us to secure a prime location in this highly sought-after area.”
Located at 2245 Jodeco Road, The Levi will span nearly 15 acres and provide 212 one-, two- and three-bedroom apartment homes averaging 1,100 square feet. Apartment homes will feature premium interior finishes that all Thompson Thrift communities are known for including stainless-steel appliances, hardwood-style flooring, a walk-in shower, various smart home capabilities, full-sized washers and dryers and a detached garage. Certain upgraded homes will also feature premium cabinetry with soft-close doors with a full-height backsplash, a deluxe closet system with shelving and attached garages.
The signature living experience continues throughout the gated community with a 24-hour fitness center, resort-style swimming pool, firepits, a pickleball court, a dog park, pet spa and a Starbucks™ coffee bar. Residents will also enjoy socializing and relaxing in the outdoor seating areas, cooking on the outdoor grills, or working remotely in the focus suites.
The Levi is conveniently located within the 158-acre master-planned community of Bridges at Jodeco, providing several retail options within walking distance, including Costco Wholesale and Starbucks. Other major retailers, such as Target, The Home Depot, and PetSmart, are just a short drive away. An abundance of dining options, including the first two-story drive-thru Chick-fil-A, are also nearby.
The Atlanta market is consistently ranked as the leading region in many key areas, including the top metro area for economic growth potential, the top moving destination in the U.S., and the best airport in the world since 1998. Demand for multifamily remains strong, especially in Henry County, which has attracted nearly $2 billion in new investments producing more than 7,700 jobs in the last six years.

DALLAS, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Encore Apartments, located in the Legacy area of Plano in North Texas. The Encore Apartments represents the inaugural investment of Knightvest Capital’s second fund.
The Encore is a three-story, 240-unit community of one- and two-bedroom apartment homes constructed in 2013. The property also boasts a resort-style pool and fitness center. Knightvest plans to transform the community by renovating the unit interiors, modernizing the property amenities, and adding a resident lounge to further support the live-work-play environment for residents.
The community is located in the fast-growing market of North Plano, in an area known for its concentration of high-wage jobs, exemplary school district, and leading entertainment venues. As Knightvest completes the luxury renovations, the community will provide a high-quality, affordable housing alternative to new construction in the area.
“We’ve been greatly encouraged by investor interest in our new fund given our differentiated capabilities and strong track record of results,” said Knightvest Founder and CEO David Moore. “As the first investment of our new fund, this acquisition represents an important milestone, and it’s a perfect fit for our proven playbook given the value-add opportunity in one of the best markets in the nation.”