ATLANTA, GA – Atlanta Housing and its city partners broke ground on the Juanita H. Gardner Village, a new construction project that will create 108 independent living senior units in a three-story elevator building in the Adamsville neighborhood. Ms. Gardner, after whom the project is named, is a long-time neighborhood association leader.
“All 108 of these units are affordable, and we’re proud to be able to collaborate with Invest Atlanta, the City of Atlanta and the Georgia Department of Community Affairs in creating these vitally needed senior units,” said Eugene E. Jones, Jr., president and CEO of Atlanta Housing.
The project is being financed through the AH-Invest Atlanta Co-Investment fund with an investment by AH and tax-exempt bonds from Invest Atlanta as well as 4 percent Low Income Housing Tax Credits from the Georgia Department of Community Affairs (DCA). The project is being built on a vacant site at 3650 Bakers Ferry Road. To ensure long-term affordability, AH purchased the project site and is providing a long-term ground lease at a nominal rate to the owner entity.
“Our Administration’s affordable housing efforts include a commitment to ensure affordability is attainable for our legacy residents, and this new development does that,” said Mayor Andre Dickens. “With the investments and efforts from Atlanta Housing and Invest Atlanta, Juanita H. Gardner Village provides legacy residents in Adamsville with access to housing so they can remain in the community they helped build.”
Formerly to be known as Harmony at Bakers Ferry, the project was renamed at the community’s request after the longtime community activist. The project closed on its financing on June 17, 2022 and is scheduled for a 14-month construction period.
“The Board of Commissioners would like to salute Juanita H. Gardner for her outstanding community leadership over many decades,” said Tené Traylor, interim chair of the Atlanta Housing Board of Commissioners. “This project and others like it will help ensure that Atlanta is a city where economic opportunity is abundant for everyone, a city where affordability isn’t a luxury, and a city that is prepared to lead into the future.”

HOLLAND, MI – The retirement community West Michigan seniors have been eagerly awaiting is finally underway. The first shovel hit the ground on August 22, 2022, marking the beginning of construction of The Farmstead by Resthaven, the visionary behind the project.
The Farmstead by Resthaven, a new Independent Living and Assisted Living campus serving the greater Holland community, will be situated on the nearly 40 acres of vacant property near Van Raalte Park. Surrounded by nature and walking trails, it will provide a calm, quiet setting, while inviting plenty of opportunities for recreation, activities, and friendship building.
The sizable property accommodates a variety of residence styles, from single-family homes to duplexes to apartment buildings. All residences are designed to be spacious and modern, with open, accessible floor plans. Private rooms in the onsite assisted living and memory care building are also an option. No matter which housing option residents choose, they’ll have the peace of mind of guaranteed access to Resthaven’s continuum of care.
Though all the standalone homes are reserved, there are still a small number of apartments available. Those interested in securing a space are encouraged to contact Resthaven right away.
“We are so excited to finally enjoy maintenance-free living, after decades of mowing, shoveling, and home repair,” say future residents Dave and Donna Hupe­­­­­­­­­­­­­­­. “When we decided to downsize, we really wanted a place where we could truly enjoy our retirement. The Farmstead offers everything we’re looking for.”
Another appealing feature of The Farmstead by Resthaven is the clubhouse, where residents can socialize, take classes, enjoy meals, and more. The Farmstead is also minutes away from the shops, eateries, and entertainment of downtown Holland.
“We heard clearly that seniors in Holland want to stay actively involved in their community,” said Deedre Vriesman, President and CEO of Resthaven. “The Farmstead is in direct response to the need for more independent living and assisted living memory care in our community. Resthaven has been dedicated to caring for seniors for over 75 years and we are excited for The Farmstead which will help us do so for years to come.”
Resthaven, the only faith-based, non-profit senior healthcare and living organization in Holland, has been a fixture in the community for more than 75 years. They’ve seen the needs of seniors first hand and have continually evolved their outlook and offerings to stay relevant—and be the resource today’s families require. Knowing that seniors expect to have active, engaging retirement years, they’ve created The Farmstead as a Life Plan Community, where lifestyle, relationships, and physical and emotional wellbeing are priorities. With the added benefit of Resthaven’s continuum of care, which includes assisted living, long-term nursing care, memory care, rehabilitation, and home care, residents will have the support they need now or anticipate needing in the future.
The Farmstead has been in design and planning since early 2019. Development of the project was slowed by the pandemic, but demand for the new units at The Farmstead remained high. The project is being designed by Atlanta, GAbased architecture firm, THW Design. EV Construction will serve as the project’s Construction Manager. EV anticipates having hundreds of local workers engaged in the construction process over the next 18 months.
John Parker, EV Construction’s Vice President of Project Development shared, “EV Construction and Resthaven both celebrated 75 years of business during the pandemic. Our organizations have worked together for most of those years. As the world moves past the worst of the pandemic, we look forward to starting this next exciting project together.”
Construction of The Farmstead by Resthaven will continue through 2023, with a grand opening expected in 2024. Resthaven recently celebrated the grand opening of The River Place, an independent living apartment residence that’s also a Life Plan Community. Located amid the excitement of downtown Holland, this modern complex further demonstrates Resthaven’s commitment to serving and responding to the needs of today’s seniors.

CARY, NC – An affiliate of Walton Street Capital originated a $69.8 million loan to a partnership between The Bainbridge Companies and Virtus Real Estate Capital for the acquisition of Aventura Crossroads, a 344-unit apartment community located at 1010 Legacy Village Drive in Cary, NC.
Built in 2009, the garden-style multifamily property is currently 98% occupied. The Property includes a variety of one-, two-, and three-bedroom floorplans offering large units that average 1,154 square feet. Amenities at the Property include a recently renovated clubhouse, upgraded fitness center, pet spa and outdoor pool. Aventura Crossroads is located adjacent to numerous retail and dining offerings and is nearby to Fenton, a 92 acre newly delivered, mixed-use development. The Property also offers convenient access to both downtown Raleigh and the booming tech and life science driven Triangle market.
This was an attractive opportunity to finance the acquisition of a very well-maintained multifamily asset in an established yet rapidly growing market for two respected and experienced sponsors. We are excited to grow our relationship with both the Bainbridge and Virtus team, said Hilary Caudle, Vice President with Walton Street.
This loan exemplifies our core strategy of originating loans to knowledgeable sponsors on multifamily assets in markets that exhibit nation leading employment and population growth. The Property has strong in place credit metrics with attractive lease trade-out trends that will drive additional growth, added Luke Goodwin, Senior Principal with Walton Street.
In 2022, Walton Street affiliates have closed or are in process of closing loans on multifamily projects totaling approximately 4,868 units across multiple high-growth markets.

COLUMBUS, OH – Leste Group s real estate debt and structured equity arm and SAR Apartment Capital, a national multifamily investment firm, announced they have completed the $23.6 million acquisition of four multifamily properties in Columbus, Ohio that comprise 556 apartments in total.
The properties in the portfolio include: Winterwood Apartments, a 4-acre, 135-unit complex located at 4388 Walford Street; Winterwood Gardens, a 3-acre, 99-unit building located at 1980 Belcher Drive; Tall Oaks Apartments, a 7.8-acre, 160-unit community located at 2300 Fitzroy Place South; East Worthington, a 9.1-acre, 162-unit property located at 869 East Dublin Grandville Road.
Each has convenient access to nearby employers, retail and entertainment, and major highways.
All four properties are located in the Northeast submarket of Columbus, which has enjoyed healthy demand over the past decade. Middle class, workforce housing is driving demand in the submarket and represents nearly half of all units rented there year to date. Rent growth has also performed well in recent years, with average annual gains of 5.8% over the past three years.
We are pleased to partner with SAR, with whom we have a longstanding relationship, to acquire and invest in improving this portfolio of properties. This transaction reflects Leste s ability to employ a creative investment structure with a programmatic relationship, said Jordan Suppan, Managing Director of Leste Credit, who oversees the firm s debt and structured real estate transactions. Columbus is facing a demand for quality workforce apartment housing, and we see significant upside potential supported by the area s demographic trends. This portfolio represents a unique opportunity to add value through targeted capital improvements, and we believe these communities have the potential to become market-leading multifamily locations in the Columbus area.
The four communities will undergo renovations of both exterior and interior spaces. Exterior updates will include new roofs, upgraded landscaping, exterior lighting, new fencing, and new signage. Interior renovations will feature new bathrooms and kitchens, new flooring, and updated appliances, including new AC units. Common areas, including lobbies, clubhouses and leasing offices, will receive new floors and other renovations, as will pools and fitness centers.
SAR is seeking to source, acquire and manage real estate assets with high return potential for our investors, and this property portfolio strongly fits our target acquisition profile, said Abiel Ballesteros, Vice President at SAR. We are pleased to work once again with Leste, and we look forward to transforming these apartments and delivering attractive, quality housing to the residents of Columbus.
The city of Columbus boasts a diversified economy with dynamic population and job growth, fueled by major employers including Ohio State University, state and county government, and such corporations as Nationwide Insurance, JPMorgan Chase & Co., Bath & Body Works, Honda of America, and American Electric Power. Intel has announced plans to construct two semiconductor fabrication plants, set to come online in 2025 and employ as many as 3,000 people.

IRVING, TX – JPI announced a joint venture with Madera Residential and WayMaker on five new developments across the DFW Metroplex. These five assets will provide over 1,750 class A multifamily homes to residents and help serve the growing need for housing in the thriving DFW metroplex. When completed, the joint venture portfolio will include nine communities in total.
The first five communities, Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake, and Jefferson Peninsula, are the first to start construction in an agreement between the parties. By the end of 2022, the parties expect to start another four communities together for a total of nine communities, representing over 3,300 homes, and valued at over $1 Billion.
We are grateful for the confidence and trust that these top-tier organizations have invested in JPI s product, said Payton Mayes, JPI s Chief Executive Officer. The alignment of our core values and our business models leave us excited to work alongside their talented teams and hopeful for future opportunities to work together.
Our team has long admired JPI for their excellence in execution and market leadership, said Dave Marcinkowski, Partner at Madera Residential. The opportunity to partner with Waymaker in such a values-forward development that also provides our investors access to these world class communities, in one of the hottest markets in the country, is an exciting expansion of Madera s platform.
One of the truly unique features of this new partnership is the value-based funding contribution to Apartment Life s ongoing financial health and benefit to the multifamily communities. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community’s financial performance through online reputation, resident satisfaction, and resident retention. The opportunity is to change lives, while changing business.
The opportunity to align with JPI and Madera Residential is a dream come true for WayMaker, said Keith Dunkin, President of WayMaker. Our desire is to serve and love on all our constituents, residents, investors and partners, and this portfolio in conjunction with our community engagement leadership with Apartment Life represents an exceptional opportunity to do just that.
These five communities, which are under construction and leasing up between now and 2025, are slated to provide best-in-class living experiences and top of market amenities throughout the portfolio. JPI has chosen Quext IoT and their uniquely innovative and patented smart apartment platform for these assets, aimed at enhancing the resident experience.

NEW YORK, NY – Ofer Yardeni, Chairman and CEO of Stonehenge NYC, announced that the company has closed on the purchase of 780 Greenwich Street, New York, New York. The six-story, 70,000 sq. ft. building, which contains 88 residential units, commands a full 148 foot blockfront in Manhattan’s West Village. The property was built in 1950.
780 Greenwich is situated on Greenwich Street between Bank and Bethune Streets in the heart of the West Village, one of the city’s most desirable neighborhoods. This pet-friendly, doorman building is close to many of the city’s most vibrant restaurants, shops, and nightlife offerings and is only steps away from the Meatpacking District, the Highline, as well as the Hudson River Esplanade. 780 Greenwich will join 26 other buildings in the Stonehenge NYC portfolio. The property offers duplex units, a rarity in the West Village.
“We are excited to expand Stonehenge’s presence in the West Village. 780 Greenwich Street represents a true trophy asset as it is one of the few rental buildings in the Village with more than 75 large apartments. I am pleased to say that with this off-market acquisition, Stonehenge NYC now manages two of these rare assets, the other being 10 Downing Street, located just blocks away. We look forward to providing a first-class experience to the residents of 780 Greenwich,” said Mr. Yardeni.
This off-market deal was sourced by Stonehenge NYC which also led the underwriting and due diligence. The company will manage the property, as it does its entire portfolio. Stonehenge NYC plans to upgrade the building’s apartments and amenities to the high standard found throughout its portfolio. The company plans to utilize its best-in-class property management team, technology platform, and lifestyle offerings to enhance the resident experience. Tenants will be able sign leases online, utilize a user-friendly tenant app on their smartphones, and join the Stonehenge community of over 5,000 New Yorkers.

DENVER, CO – Sentral and OliverBuchananGroup, a leading mixed-use development company, announced a partnership to develop new urban multifamily communities and mixed-use projects in high growth U.S. markets. Sentral will serve as the exclusive property management company for residential properties, and the partnership will initially target projects in Denver, San Diego, Phoenix, Dallas, Austin and Nashville.
Sentral’s rapid national expansion plans continue and its first collaboration with OliverBuchananGroup will center on Denver’s River North District (RiNo). The partnership has engaged several local and global design firms to plan for a striking community that will include more than 300 units of residential living, as well as retail, office and event space. Construction is currently set to commence in 2023. The development’s location sits in one of the highest concentrations of restaurants, entertainment and breweries in Denver, with more than one million square feet of office space under construction within a one-mile radius.
“As we expand our footprint, we are strategically aligning ourselves with partners like OliverBuchananGroup who share our vision to build and operate the next generation of residential living,” said Jon Slavet, Chief Executive Officer at Sentral. “Through this collaboration, we will address modern consumer preferences for living and travel while introducing brand standards and flexibility into the multifamily sector for the first time.”
Led by Chairman Morgan Dene Oliver and Chief Executive Officer Eric Buchanan, OBG boasts an expanding real estate portfolio that includes a unique mix of retail, entertainment, office, hotel, and residential projects throughout the U.S. With architectural integrity, sustainability, and creativity at the forefront, OBG grew from its roots in OliverMcMillan – an internationally renowned development firm whose assets were acquired by Brookfield Properties in 2018. In its 42-year history, OliverMcMillan was grounded in creating special and dynamic places; designing and developing more than 8 million square feet of mixed-use projects with a gross project value exceeding $4 billion across 11 domestic markets – including stand-out developments such as Lilia in Waikiki, Symphony Honolulu, River Oaks District in Houston, Fifth and Broadway in Nashville, and Buckhead Village in Atlanta.
“While we continue to see the rise in demand for short-term rentals, it is impactful to see a brand like Sentral pioneering flexible living in the multifamily market – offering residents top-notch amenities and design-driven accommodations in desirable cities,” said OBG’s Chairman Morgan Dene Oliver. “We look forward to collaborating with Sentral on developing these new communities and creating dynamic spaces where residents can work, play and make memories.”

KANSAS CITY, KS – A joint venture between affiliates of Cantor Fitzgerald and BH Companies, acquired a 309-unit multifamily property known as West End at City Center in Lenexa, a submarket of Kansas City, Kansas. The acquisition is the seventh multifamily acquisition by joint ventures between Cantor Fitzgerald and BH. The transaction was brokered by Mac Crowther and Whittaker Potts of the Newmark Kansas City office.
The Property is strategically positioned near the I-435 and I-35 transportation arteries, 20 miles southwest of Kansas City’s central business district. In addition, the Property is conveniently located within walking distance of Lenexa City Center, a 200-acre development featuring a mix of shopping, restaurants, entertainment venues, offices, living options, and hotels.
“We are excited to add Kansas City to our growing national portfolio with the purchase of West End at City Center,” said Matt Keefer, Managing Director at Cantor Fitzgerald. “The Property’s spacious interiors, desirable amenities, and central location to nearby employment and entertainment options presented a great opportunity to acquire a well-performing multifamily asset in a strong submarket.”
Built in 2009, and managed by BH, the Property features one-, two-, and three-bedroom apartments with an average unit size of 970 square feet. Community amenities include a 24-hour fitness center, swimming pool, business center, and a picnic and grilling area. As of July 28, 2022, the Property was 95.8% leased.
“We are thrilled to continue our partnership with Cantor Fitzgerald on this acquisition, which represents a high-quality asset in a great location within the Kansas City market, where BH has a significant presence,” said Mike Baker, Vice President of Equities at BH.
As of June 30, 2022, Cantor Fitzgerald’s real estate investment management portfolio includes over 8,000 multifamily units and 16.0 million square feet of office, industrial, and retail space across 147 properties. In 2021, Cantor Fitzgerald participated in approximately $140 billion of total real estate transactions.

BOULDER, CO – Brickstone Partners, a full-service real estate investment and development firm located in Nashville, Tenn., announced the acquisition of Kensington Apartments adjacent to the University of Colorado at Boulder.
Since its founding in 2001, Brickstone has been involved in more than $1 billion of real estate transactions, including more than $500 million in Boulder.
“Kensington is a continuation of our core investment thesis: investing in residential and commercial real estate assets that are in highly constrained markets and generate opportunistic yields,” said Daniel Otis, founder of Brickstone. “The fact that this property has never traded hands since its development more than 50 years ago is a substantiation of why we continue to invest heavily in Boulder.”
Just blocks from the University of Colorado at Boulder campus, Kensington Apartments offers 163 units and a host of amenities designed specifically for students, including an onsite laundry facility, underground parking, fitness center, indoor pool, clubhouse and much more.
As part of their contribution to the thoughtful growth and revitalization of Boulder and the city’s aging properties, Brickstone will launch a comprehensive, two-year renovation program aimed at fully upgrading and modernizing the community’s unit interior finishes, including cabinetry, countertops, appliances, flooring, lighting and plumbing fixtures.
In addition to the interior improvements, Brickstone will extensively upgrade the life safety features, amenities, clubhouse and exterior landscaping, making the property nearly new again.
“We are excited to add Kensington to our extensive portfolio of Colorado communities, and for the opportunity to enhance the property to better serve the needs and desires of its residents and of this great city and institution,” Otis said. “With the iconic Flatirons as a backdrop, Boulder is one of the most beautiful places to live in the nation. The city continues to grow rapidly because of the prestige of the university and the rapid influx of technology companies choosing to call Boulder home. With our investment in Kensington, we look forward to contributing to this dynamic growth by providing a safe, fully-renovated community that caters to the active and modern lifestyle that Boulder residents desire today.”

FORT WORTH, TX – Cottonwood Group, a private equity real estate investment firm, announced that it has acquired a 480-unit multifamily portfolio in Fort Worth, Texas with Dallas-based Texsun Holdings. The Portfolio consists of the Woodstone Apartments, located at 6051 Bridge Street, and Bridge Hollow Apartments, located at 5801 Bridge Street.
Cottonwood acquired the Portfolio through the Cottonwood Real Estate Founders Fund, a multi-strategy open-ended fund. The Portfolio is the second multifamily acquisition between Cottonwood and Texsun this year. The partnership acquired two multifamily assets, the San Mateo Apartments and Heights on Perrin Apartments in San Antonio, last month.
“We are thrilled to complete another transaction with Texsun and to add such a high-quality asset to our Texas portfolio,” said Mark Green, Chief Investment Officer at Cottonwood. “While other traditional investors may be pulling back due to economic and market uncertainty, we remain bullish on the multifamily sector.”
The business plan includes a renovation and repositioning of the approximate 342,000-square-foot Portfolio, for which Cottonwood and Texsun have budgeted approximately $5 million.
“Our team is excited to build upon our relationship with Cottonwood to complete another successful acquisition in Texas,” said Sean Fogelman, Managing Partner and Co-Founder of Texsun Holdings. “We are eager to continue expanding our presence in Texas, and the Fort Worth Portfolio acquisition plays a key role in helping us achieve that goal.”