HUNTSVILLE, AL – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of FarmHaus Apartments, a 324-unit Class A multifamily community located in the Huntsville suburb of Madison, Alabama.
“Huntsville is the epicenter of the military defense industry,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “With more PhDs and engineers per capita than any other city in the U.S., this tech-centric city is home to the nation’s second-largest research park, the U.S. Space & Rocket Center, and Redstone Arsenal that supports the national defense with large groups from the Department of Defense, Department of Justice, and NASA. Expanding Capital Square’s multifamily investment footprint in this stable and growing market just makes sense.”
Located at 1260 Balch Road, the 22-acre property offers open-concept one-, two-, and three-bedroom units averaging 973 square feet with top-of-the-line finishes, including stainless steel appliances, standalone kitchen islands with quartz countertops, in-unit washers and dryers, walk-in closets, keyless entry access and private patios or balconies. Community amenities include a resort style pool with large sundeck and cabanas, hot tub and spa, state-of-the-art fitness center, business center with a coffee bar, TV and gaming lounge, communal grilling station, as well as a fenced in dog park and pet spa.
FarmHaus is adjacent to the Clift Farm master development, which is home to numerous retail outlets including a 400,000-square-foot Publix. The property’s location along Highway 72 provides residents easy access to multiple job centers throughout the Huntsville area, including Redstone Arsenal, Cummings Research Park and the newly opened Mazda Toyota Manufacturing facility.
“FarmHaus Apartments is a Class A multifamily community located in an affluent part of Greater Huntsville, where population growth has exceeded 30 percent since 2000 and continues to expand at a rapid pace,” said Whitson Huffman, co-chief executive officer. “The local economy is vibrant and demand for quality rental living continues to far exceed available supply, making FarmHaus an attractive opportunity for Capital Square and the investors we serve.”
The Huntsville metropolitan statistical area has experienced a substantial 31.6% increase in population growth since 2000 and the city is projected to add 50,000 new residents by 2025. According to the U.S. Census Bureau, Huntsville’s population growth is the fastest in the state of Alabama and it is the most affordable city in the country, per reporting by U.S. News. Research by Yardi Matrix demonstrates that the median household income within a three-mile radius of FarmHaus exceeds $100,000.
Known as “Rocket City” for the development of the first rockets that put men on the moon, Huntsville is the largest city within the state of Alabama and is home to several higher education institutions, a variety of growing job industries, outdoor recreation activities, and numerous entertainment and retail options. Top industries in Huntsville include military/aerospace and defense-related businesses, as well as medical, education, aeronautics, research, telecommunications and local government.

CHARLESTON, SC – ECI Group announced the acquisition of The Factory at Garco Park, a 271-unit, built in 2017, institutional-grade multifamily community in the highly-desirable Park Circle neighborhood in North Charleston, South Carolina.
The Factory at Garco Park is ECI’s first investment in the Charleston metropolitan area and, with assets in Greenville and Savannah, their fourth in the Carolinas/SE Georgia region. Financing for the acquisition was provided by SouthState Bank.
“The Factory at Garco Park offers ECI an opportunity to recycle capital from our recent sale of The Columns at Vinings in Atlanta into a very high quality, exceptionally well-located asset in a top expansion market for us,” said ECI Chief Acquisitions Officer, Scott Levitt. “With our ability to self-manage and oversee additional enhancements to the balance of the unit interiors and the property’s exterior and amenity package, we look forward to this property providing us with a cornerstone asset in the Charleston market.”
The 1031 Exchange involving the recently announced sale of The Columns at Vinings and the acquisition of The Factory at Garco Park is the 5th such exchange for ECI in the last 18 months.
The Factory at Garco Park, located at 4993 O’Hear Avenue in North Charleston, features upscale, spacious studio, one-, two- and three-bedroom units. The community’s walkable experience has made it popular with young professionals seeking a vibrant Peninsula lifestyle, with an abundance of restaurants, retail, and nightlife, in the East Montague corridor just steps from their front door.

ATLANTA, GA – Tricon Residential, an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, confirmed the closing of the previously announced sale of its 20% equity interest in a portfolio of 23 Sunbelt apartment buildings to a vertically integrated residential real estate investment and property management company, which will assume all asset and property management responsibilities for the portfolio after a customary transition period.
The sale resulted in gross proceeds of approximately $315 million to Tricon. The Company intends to use the net sale proceeds primarily to repay outstanding debt on its corporate credit facility, enhancing its balance sheet flexibility to pursue future growth in its core single-family rental business. Tricon also intends to use a portion of the proceeds to repurchase common shares under the normal course issuer bid announced on October 13, 2022.
Tricon Residential is an owner and operator of a growing portfolio of approximately 34,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt.

COLORADO SPRINGS, CO – Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on InterQuest Ridge Apartments during a ceremony with local officials, nonprofit leaders, and financing partners. LAC’s first-ever ground-up development represents an exciting new avenue for the company to continue growing its nationwide portfolio and expanding its impact to communities where families and individuals lack access to affordable homes.
“At Lincoln Avenue Capital, we’re always seeking new and innovative ways to provide high-quality, affordable housing in communities that need it most,” said LAC CEO Jeremy Bronfman. “We are thrilled to officially break ground on InterQuest Ridge and grateful to the state and local officials, nonprofits, and financing partners who helped make this a reality. We hope this valuable collaboration will serve as a model for generating new ground-up deals in Colorado and across the nation.”
Upon completion expected in 2024, InterQuest Ridge will provide 240 units for working families and individuals in northern Colorado Springs, an area of the city with a high rent burden for local workers. The property will include a range of sustainability features and community amenities, such as a clubhouse, playground, outdoor pool area, fitness and yoga rooms, and covered barbeque pavilion.
InterQuest Ridge will support the housing needs of underserved veterans and their families in Colorado Springs, which has one of the highest veteran populations in the country, by designating 20 units for veterans associated with the Mt. Carmel Veterans Service Center and their families.
“As an impact-driven company, we’re committed to making it easier for people to live where they work in communities like northern Colorado Springs where more affordable homes are needed,” said Ben Taylor, LAC Vice President and Project Partner. “We’re especially proud that InterQuest Ridge will prioritize quality apartments for veterans and their families facing an affordable housing crisis here and throughout Colorado.”
The groundbreaking event was attended by representatives from the Mt. Carmel Veterans Service Center, City of Colorado Springs, Colorado Springs Housing Authority, State of Colorado and El Paso County, among many others. Following remarks, LAC leaders and local officials formally broke ground on a section of the property, backed by the scenic Front Range mountains and Pikes Peak.

CINCINNATI, OH – Stoneweg U.S., a real estate firm specializing in multifamily acquisitions and developments, announced the acquisition of JRG Lofts, a 178-unit, mixed-use, apartment community in Mainstrasse Village, a national historic district in the Cincinnati, OH MSA. The acquisition further expands the company’s geographic footprint in the Midwest, which accounts for approximately 30% of its current portfolio.
“We’re thrilled to deliver another incredible asset, in the thriving Cincinnati market that’s experienced such phenomenal growth over the last several years, to our investors.” said Matt Levy, Executive Vice President & Head of Investments for Stoneweg US. “The Midwest region is home to some of the strongest performing assets in our portfolio, and we’re confident JRG Lofts will be no exception.”
An off-market opportunity, the newly constructed apartment community JRG Lofts, opened its doors in late 2021. The 5-story, L-shaped building features 178 units consisting of modern 1- and 2-bedroom apartments and seven ground-level townhomes. The property was designed with best-in-class amenities that range from a full-service rooftop area for residents that features a salt-water pool, two green lounge areas, shaded dinning spaces, a firepit, and picturesque views of the Cincinnati skyline as well as a full-service fitness facility, resident clubhouse, and an onsite pet washing station for residents. Units are fully equipped with Energy Star rated appliances, vinyl flooring, LED lighting throughout, modern fixtures, and high-efficiency rated HVAC systems.
The stellar condition of JRG Lofts warrants a business plan free of capital improvements that will primarily focus on maximizing operations onsite. With the property’s proximity to some of the most eclectic and popular shops, restaurants and galleries Mainstrasse Village has to offer, Stoneweg US believes residents will be drawn to the property because of its strong curb appeal and ability to satisfy the “walkability” component that so many renters desire when seeking new living solutions.
“While the renter’s appetite is everchanging and constantly evolving, we know that the “walkability” element and recent shift to more core urban areas remains constant with no signs of slowing down given increased interest rates and their effect on the housing market,” said Ryan Smyth, Director of Acquisitions for Stoneweg US. “With its strong walkability score, upscale offerings, and ideal location that JRG Lofts offers new renters, the decision to pursue this opportunity was a rock-solid one for us.”

CINCINNATI, OH – Stoneweg U.S., a real estate firm specializing in multifamily acquisitions and developments, announced the acquisition of JRG Lofts, a 178-unit, mixed-use, apartment community in Mainstrasse Village, a national historic district in the Cincinnati, OH MSA. The acquisition further expands the company’s geographic footprint in the Midwest, which accounts for approximately 30% of its current portfolio.
“We’re thrilled to deliver another incredible asset, in the thriving Cincinnati market that’s experienced such phenomenal growth over the last several years, to our investors.” said Matt Levy, Executive Vice President & Head of Investments for Stoneweg US. “The Midwest region is home to some of the strongest performing assets in our portfolio, and we’re confident JRG Lofts will be no exception.”
An off-market opportunity, the newly constructed apartment community JRG Lofts, opened its doors in late 2021. The 5-story, L-shaped building features 178 units consisting of modern 1- and 2-bedroom apartments and seven ground-level townhomes. The property was designed with best-in-class amenities that range from a full-service rooftop area for residents that features a salt-water pool, two green lounge areas, shaded dinning spaces, a firepit, and picturesque views of the Cincinnati skyline as well as a full-service fitness facility, resident clubhouse, and an onsite pet washing station for residents. Units are fully equipped with Energy Star rated appliances, vinyl flooring, LED lighting throughout, modern fixtures, and high-efficiency rated HVAC systems.
The stellar condition of JRG Lofts warrants a business plan free of capital improvements that will primarily focus on maximizing operations onsite. With the property’s proximity to some of the most eclectic and popular shops, restaurants and galleries Mainstrasse Village has to offer, Stoneweg US believes residents will be drawn to the property because of its strong curb appeal and ability to satisfy the “walkability” component that so many renters desire when seeking new living solutions.
“While the renter’s appetite is everchanging and constantly evolving, we know that the “walkability” element and recent shift to more core urban areas remains constant with no signs of slowing down given increased interest rates and their effect on the housing market,” said Ryan Smyth, Director of Acquisitions for Stoneweg US. “With its strong walkability score, upscale offerings, and ideal location that JRG Lofts offers new renters, the decision to pursue this opportunity was a rock-solid one for us.”

CHARLOTTE, NC – Crescent Communities and Pretium celebrated the groundbreakings of HARMON Ballantyne and HARMON Five Points, two build-to-rent (BTR) communities under construction in Charlotte as part of the companies’ joint venture and commitment to invest $1 billion in new single-family build-to-rent communities across 14 key strategic growth markets.
“We’re thrilled to celebrate the entry of the HARMON brand in Charlotte by officially breaking ground on HARMON Ballantyne and HARMON Five Points,” said Tony Chen, Managing Director of Single-Family Build-to-Rent at Crescent Communities. “HARMON Ballantyne and HARMON Five Points bring infill housing options to Charlotte providing its residents the opportunity to lease brand new homes in highly sought-after neighborhoods without the long-term commitment and high upfront cost of homeownership. We look forward to seeing the progress on these communities and are excited to share construction updates in the coming months.”
“Pretium is committed to being a leading part of the solution to address the nationwide housing shortage, and our build-to-rent partnership with Crescent to develop and operate rental communities across the country is part of those efforts,” said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. “The HARMON Ballantyne and HARMON Five Points communities demonstrate our dedication to providing affordable, modern housing in the rapidly growing communities where it is needed most. We look forward to continuing to ensure our residents have access to high-quality single-family homes.”
Both communities will offer townhomes ranging from 3 to 4 bedrooms each with private garages, driveways, and balconies. Located at 15825 Marvin Road, 13 miles south of Charlotte’s central business district, HARMON Ballantyne will bring 60 residences to the Ballantyne area, which has experienced noticeable growth in recent years and offers access to a broad range of amenities, including shopping, dining, schools, and recreation opportunities. HARMON Five Points will offer 76 residences located at 360 Seldon Drive in the West End neighborhood. The community will have a direct trail to the playground at Five Points Park and is in proximity to the Irwin Creek Greenway and Gold Line Streetcar for easy access to Uptown. HARMON Five Points is expected to offer pre-leasing winter of 2022 and HARMON Ballantyne in fall of 2023.
The groundbreakings add to Crescent Communities’ continued commitment to expanding its footprint in Charlotte. The company has also announced the development of multifamily communities NOVEL Mallard Creek and NOVEL University Place, both of which are currently under construction, the groundbreaking of NOVEL Ballantyne, and the sale of NOVEL LoSo Station to MAA.

DALLAS, TX – Arch Street Capital Advisors, a real estate investment advisory firm, announced the sale of a 417-unit Class A multifamily asset in the Dallas-Fort Worth MSA.
The asset was acquired in 2017 on behalf of one of Arch’s institutional capital partners. The business plan focused on increasing value through revenue management strategies and streamlined operational expenses, combined with strengthening market fundamentals.
“We are pleased to successfully exit this asset upon executing our business plan, derived through a combination of our macro perspective and property-level insight,” said, Christopher Collins, Vice President of Asset Management, at Arch Street Capital Advisors. “One of Arch’s strengths is our ability to shift between different geographies (both within the U.S. and Europe) and different asset classes. It provides Arch with acute market insight into dislocated pricing that drives strong risk-reward acquisitions across all market cycles. The sale of this Class A asset demonstrates that ability within the multifamily space, in addition to Arch’s many recent transactions in the retail, industrial, office, and build-to-suit spaces.”
“We are actively seeking to acquire yield oriented, single-tenant, net-leased, office and industrial properties as well as Data Center, Multi-Family, MOB / Healthcare, Student Housing and Retail assets and continue to search for new opportunities both on a portfolio and single asset basis.” said Gautam Mashettiwar, Senior Vice President of Acquisitions, at Arch Street Capital Advisors.
Arch Street Capital Advisors is a full-service real estate investment advisory firm. Arch specializes in assisting institutional investors with their real estate investment strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services.

GREENSBORO, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, announced it has acquired a portfolio of four apartment communities totaling 846 apartment homes located in four of its target markets. The total purchase price was $313 million. The portfolio was purchased on behalf of Bell Apartment Fund VII investors. The four properties acquired include Sidney at Morningside, located in Atlanta, GA (to be renamed Bell Morningside); Residences at Starwood, located in Frisco, TX (to be renamed Bell Starwood); Touchstone Apartments, located in Broomfield, CO (to be renamed Bell Broomfield); and Montecito Apartments, located in Santa Clarita, CA to be renamed Bell Valencia).
“We are excited to acquire a portfolio of high-quality, differentiated properties located in submarkets with healthy supply and demand fundamentals,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “At a time of increased turbulence in the capital markets, this portfolio fits our long-term strategy of pursuing investments in our target markets where we can leverage our local experience and extensive operating platform to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”
Located in Atlanta, GA, Sidney at Morningside was completed in 2009 and contains 110 apartment homes with a larger than typical floor plan averaging 1,557 square feet. Its location in an attractive residential area is close to Emory University and retail amenities including the Ansley Mall and Trader Joe’s, and provides easy access to employment centers in Decatur, Midtown, Downtown, and Buckhead. The community was originally constructed as for-sale condominiums and features large floorplans with amenities and on-site features including a high-tech fitness center, game room, saltwater pool, and a dog park.
Located in Frisco, TX, Residences at Starwood was completed in 1998 and contains 234 apartment homes in a low-density setting. Its location near the Dallas North Tollway is within a short drive to 25 million square feet of office space in suburban North Dallas and retail amenities including Stonebriar Centre and Watters Creek Village. The community features townhome style units with a high concentration of two- and three-bedroom floorplans and attractive amenities including garages, private entries, a fitness studio, and a dipping pool.
Located in Broomfield, CO, Touchstone Apartments was completed in 2018 and contains 292 apartment homes. Its location is close to major employment centers including Interlocken Technology Park, transportation arteries including Highway 36 and the future expansion of the Jefferson Parkway, and retail amenities including Flatiron Crossing Mall. Community amenities include a full-scale fitness studio, resort-style pool, and direct access garages.
Located in Santa Clarita, CA, Montecito Apartments was completed in 1999 and contains 210 apartment homes. It lies across the street from the Westfield Valencia Town Center Mall and is adjacent to the Valencia Country Club, with easy access to Interstate 5. The community has a mix of apartment floorplans and amenities that include golf course views, a spa and fitness center, garages, and controlled gate access.

SCOTTSDALE, AZ – The national finalists for the official Best Places to Work Multifamily® will be honored during the upcoming Multifamily Innovation® Summit on December 7-8, 2022 in Phoenix, Arizona.
At the Summit, each company will learn how they ranked nationally amongst the other participants and will be recognized on stage for their incredible achievement.
An exciting new development with the awards this year is the addition of categories.
68 of the finalists are Multifamily Management/Owners. 24 of those finalists were ranked in the 1- 4,999 units category. 37 were ranked in the 5,000 – 19,999 units category and 7 were ranked in the 20,000+ units category.
As a separate category, 15 Multifamily Suppliers/Vendor finalists will learn how they rank nationally.
And finally, 58 of the finalists will find out how they rank on the Best Places to Work Multifamily® for Women list.
In its 8th year, the Best Places to Work Multifamily® program continues to fulfill its mission to advance leadership and innovation for multifamily professionals by recognizing those organizations who own, manage, and support apartment communities nationwide and who are making an impact in the world through employee engagement.
This is our opportunity to showcase the hard work, loyalty, and dedication of everyone who helps make the multifamily industry what it is today. We love recognizing the people within these incredible companies every year and showcasing what they re doing in order to receive this honored distinction within the multifamily industry. These are the best of the best building healthy organizations from the ground up, stated Carrie Antrim, CO-Founder of Multifamily Women®.
Patrick Antrim, CEO of Multifamily Leadership explained, Next generation leaders want to know their company is making a positive impact in the world. Companies have been measuring resident satisfaction for years and the leading indicator for organizational success is the link between employee engagement and the resident experience. Employees are presented with hundreds of opportunities each day to be their best, but it’s the behavior that drives a successful organization, not satisfaction or size. The Best Places to Work Multifamily® companies have stepped up to play that role and will have a much bigger voice in the future.
The national research and benchmarking program demonstrates the industry s focus on people, while illustrating its overall potential— as it annually contributes more than 3.4 trillion-dollars to the U.S. economy and supports more than 17.5 million jobs.
Leaders who are looking to drive their teams forward are encouraged to register and attend the upcoming Multifamily Innovation® Summit on December 7-8, 2022 in Phoenix, Arizona, regardless if they re participating in the Best Places to Work Multifamily® Program.
Sponsorship opportunities are available and can be secured here as well for those who want to get their brands in front of these top CEOs and decision-makers not only at the Summit but across all of Multifamily Leadership s social media platforms, broadcast emails, and website.
So, without further ado, the 2023 Best Places to Work Multifamily® finalists arranged alphabetically are:
Alco Management Apartment Dynamics APARTMENT SEO ApartmentGeofencing.com Ashford Communities Avanti Residential Baron Properties Berger Rental Communities BSR REIT Carter-Haston Real Estate Services CHARLESGATE Chestnut Hill Realty City Heights Asset Management Confluence Communities Continental Properties Croatan Investments DASMEN Residential Decron Properties Domuso Eenhoorn FCI Residential Fogelman Properties Frankforter Group Gables Residential Ginsburg Development Companies GoldOller Real Estate Investments GrayCo Properties Hankin Apartments IMT Residential Indus Communities ITEX JVM Realty Keener Management Knock CRM Lantower Residential Laramar Group Lawson Leonardo247 LoanBoss LURIN Property Management Marquis Asset Management Mission Rock Residential Morgan Properties MRI Software Northland Investment Corporation NorthPoint Management O’Brien Realty Group Passco Companies Peak Properties Peg Property Management Group Perennial Properties Picerne Real Estate Group PLK Communities Poole & Poole Architecture Portico Property Management Presidium RealSource Properties Redwood Property Investors RentDebt Automated Collections Rently REPLI Respage ResProp Management Scully Company Security Properties Residential Stoa Group StoneRiver Company SYNC Residential The Bascom Group The Franklin Johnston Group The Garrett Companies The KSC Group The Life Properties The Prime Company The RADCO Companies The REMM Group The Westover Companies Valiant Residential WeDoTrash Weller Management WRH Realty Services Zego Zocalo Community Development
Registration to attend the Multifamily Innovation® Summit on December 7-8, 2022 in Phoenix, Arizona is available here.