NEW YORK, NY – Related Companies launched leasing for The Set, located in Hudson Yards at 455 10th Avenue. The 270-unit project is the first building of its kind blurring the line between a five-star hotel and luxury residential experience.
Designed by Handel Architects with interiors by MAWD, The Set will offer a home or home-base, social club, and professional workspace with a food & beverage program overseen by renowned Chef Dan Kluger. The fully serviced and furnished turnkey residences feature studio, one-bedroom, and two-bedroom apartments priced from $5,200/month with 6-month and full year leases; move-ins begin September 30, 2022.
“Thoughtfully designed for work, play and everything in-between, The Set combines a world-class residential building, five-star hotel services, and private members club into a place residents can call home,” said Jeff T. Blau, CEO of Related Companies. “From the expertly furnished residences, sky-high office suite, resident-only restaurant, to the tailored programming and events, The Set will bring a renewed way of living to Manhattan’s West Side.”
Offering a truly turnkey living experience, The Set’s fully furnished residences will feature elevated materials, exquisite finishes and designer furnishings. Each residence will have soaring nine-foot ceilings with breathtaking city views, floor-to-ceiling windows, European wide plank oak wood flooring and custom cabinetry. Residents have the opportunity to select from an array of designer furniture and accessory packages featuring art curated by the contemporary art gallery and marketplace Sugarlift. The Set’s category-defining fully-furnished and serviced residences have been thoughtfully designed for the evolving needs of its residents. Hotel-inspired services including weekly housekeeping, daily package and grocery delivery, laundry and dry-cleaning services, smart-home customization, room service, and more are all included in monthly leasing fees.
The heart of the community will be ‘The Set Club,’ a fully-serviced, resident-only social club soaring 500 feet in the air at the top of the building. The Set Club is dedicated to work and play and includes a private restaurant and bar by Chef Dan Kluger, rooftop pool and garden, expansive office spaces, ongoing programming, and more. The Set Club’s ‘Directors of Experience’ will serve as a dedicated concierge, assisting residents with any special requests and overseeing private event planning in both the amenity spaces and individual residences.
Additional spaces within The Set’s three designated amenity floors include a demonstration kitchen and lounge space, private dining room, game room, screening room, terrace with barbeque pods and virtual reality room with golf simulator and VR games. A dedicated wellness floor includes a state-of-the-art gym and yoga and virtual fitness studio.
The 44-story tower by Handel Architects utilizes glass, metal and terracotta to bridge the aesthetic of the surrounding neighborhoods on Manhattan’s West Side.
“We wanted the exterior expression to feel residential and inviting, but also have a timeless quality,” said Frank Fusaro, Partner of Handel Architects. “Terracotta was the perfect accent material since it provides that feeling of warmth. We used a bronze finish to visually connect the tower to the low-rise brick buildings nearby. Overall the building’s exterior expression is one of quiet sophistication in a busy New York City neighborhood.”
Curated by interior design firm MAWD, The Set’s interiors combine forward-thinking elements for experiential living. The use of innovative materials and grounding palettes in the project’s design creates a unique and modern sense of space informed by the MAWD’s previous experience designing members clubs across the globe.
“Recasting the pied-à-terre for a new era, The Set’s interiors have been programmed for each moment of the day, and a 24/7 lifestyle. Blurring the distinction between hotel and residential living, this ultra-service residence has been designed to mimic the warmth of home, with the magnetism of a destination,” said Elliot March, MAWD Co-Founder.

ATLANTA, GA – Ashcroft Capital, a fully integrated multifamily investment firm, announced the acquisition of four apartment communities totaling 1,080 homes in the Atlanta metropolitan area. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the communities.
The Atlanta-area communities include Halston McDonough (formerly Carrington Green) in McDonough, Ga., Halston South Point (formerly Villas at Southpoint) in McDonough, Halston Shiloh Valley (formerly Shiloh Valley Overlook) in Kennesaw, Ga., and Halston Harris Bridge (formerly Harris Bridge Overlook) in Dallas, Ga.
“In spite of capital market fluctuations, we remain bullish on multifamily based on the current and projected fundamentals within our Sun Belt metros. Because of this, we’re excited to acquire this value-add portfolio of four core-plus quality properties located in a high-growth metro in which we have an existing presence,”said Frank Roessler, founder and CEO of Ashcroft. “Additionally, this portfolio had a very strong history of institutional ownership, and the previous regime handed them off to us with minimal deferred maintenance. That said, we believe we can significantly improve the assets by updating the classic homes and further modernizing the amenity spaces.”
With the acquisitions, Ashcroft now has 10 communities in metropolitan Atlanta.
“Atlanta is a great example of the kind of Sun Belt market we want to be in,” said Scott Lebenhart, chief investment officer for Ashcroft Capital. “It’s experiencing population growth, has a diverse economy and offers a tremendous quality of life. In short, it’s exactly the kind of metro area in which renters want to be. We only entered the metro Atlanta market last year, but we’re committed to growing a significant portfolio in the area because of the rock-solid fundamentals of the apartment market there.”
The business plan will be similar at each community, as Ashcroft and Birchstone plan to fully refresh the amenity spaces, implement landscaping improvements, upgrade signage and improve overall curb appeal.
In-home upgrades will include the additions of stainless-steel appliances, hard-surface countertops, tile backsplashes, vinyl-plank flooring, upgraded lighting and plumbing fixtures, USB ports and new cabinet fronts with modern pulls. Additional improvement measures will include the addition of washer/dryer sets and the implementation of valet trash service.
Existing community amenities are similar at the properties, as each community features a swimming pool, resident clubhouse and business center, fitness center, picnic areas, playground, laundry facilities and a sports court. Apartment interiors at the classic homes in the properties include laminate countertops, black appliances, wood-style cabinet fronts, walk-in closets, private patios or balconies and washer/dryer sets in select homes.
“All four of these assets are highly desirable given the quality and characteristics of the properties,” said David Deitz, president of Birchstone. “They will fit seamlessly into our portfolio, and we believe our in-home renovations and modernization of property features will elevate each community in the pecking order of their respective submarkets. We fully anticipate demand to significantly increase at each property.”

SAN JOSE, CA – Security Properties has teamed with Pacific Life Insurance Company and Hearthstone Housing Foundation to acquire Monte Vista Senior Apartments, a 118-unit apartment community located in San Jose, CA.
The acquisition marks the seventh joint venture between Security Properties and Pacific Life since 2018. Financing was provided by Fannie Mae through Berkadia.
“Monte Vista presented a great opportunity to acquire high quality real estate in a core market, while preserving critical affordable housing for the community,” said Steve TeSelle, Senior Director for Security Properties.
Monte Vista is income and rent restricted to seniors earning between 30% and 50% of area median income. “Given the incredibly high cost of living in San Jose, affordable housing like Monte Vista provides a significant discount to market-rate units in the area,” said Chase Olson, Senior Analyst with Security Properties.
The property is located adjacent to the Alum Rock Transit Center and the associated Alum Rock light rail station, which offers residents convenient access via public transportation across San Jose and the entire Bay Area. Security Properties Residential will be taking over management of Monte Vista.

COLORADO SPRINGS, CO – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 264-unit Springs at Foothills Farm apartment community in Colorado Springs. The purchase marks the firm’s seventh property in their current portfolio in the Colorado Springs metro.
Built in 2021, Springs at Foothills Farm is located at 1203 Affirmed View in the desirable North Colorado Springs submarket, a fifteen-minute drive from Downtown Colorado Springs. The property is close to two of Colorado Springs’ major employment drivers, The U.S. Air Force Academy and Fort Carson. The property includes 276,276 net rentable square feet across 12 two- and three-floor residential buildings. The units average 1,047 square feet with private balconies/patios, spacious walk-in closets, and in-unit washers and dryers. Community amenities include an outdoor barbecue area, a resort-style swimming pool, an on-site car maintenance center, a pet playground and park, a 24-hour fitness center, and attached and detached garage options.
“We are excited to further expand our presence in Colorado Springs with the purchase of Springs at Foothills Farm,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “The 2022 garden-style asset features top of the line amenities, ideal location in the booming north Colorado Springs submarket, convenient proximity, just off Interstate-25, to InterQuest Marketplace, the submarket’s newest development, access to the largest employers in the Colorado Springs like Lockheed Martin, Hewlett Packard, USAA and Oracle. Springs at Foothills Farm will be an asset to the local community for years to come, and we at Hamilton Zanze are proud to be a part of it.”
HZ will execute a capital improvements campaign that includes building, amenity, and green improvements. Additionally, management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

ORLANDO, FL – Middleburg Communities, and SFO Capital Partners, a London-based global real estate investor and investment manager, announced they have jointly acquired The Baldwin, a newly-built, 270-unit Class A multifamily community located 10 minutes from downtown Orlando and Central Florida s STEM corridor.
The Baldwin represents the second newly-built, Class A residential community that Middleburg has acquired in Central Florida since July 2022, and follows SFO Capital Partners recent acquisition of 388 apartment units in Atlanta. Middleburg also purchased the 330-unit Indigo Champions Ridge in Davenport, which sits just minutes from several popular retail, dining and entertainment destinations and many of the region s major employers. Middleburg s investment activity in Central Florida also includes the development of Mosby Citrus Ride, a 300-unit lifestyle-oriented, attainable housing community in Davenport, announced in August.
We are pleased to continue expanding our presence in fundamentally strong and vibrant communities in Central Florida with the acquisition of The Baldwin, said Chris Finlay, CEO of Middleburg Communities. Given the area s continued growth and population inflows, there is a significant need for the high-quality, attainable housing communities we have acquired or are developing. We look forward to continuing our pattern of generating high double-digit returns for our investors with these investments and leveraging our industry-leading, vertically-integrated platform to deliver superior living experiences for our residents.
Finlay added, It s an honor to be partnering with SFO Capital Partners on this acquisition. Like us, SFO Capital Partners possesses strong institutional knowledge of the multifamily industry and has an extensive track record of producing above-average returns for its investors. We plan to further expand this partnership by jointly pursuing additional value-add opportunities throughout the southeast and sunbelt.
Mohamad Abouchalbak, CEO of SFO Capital Partners, said, We are thrilled to partner with Middleburg on this compelling and defensive acquisition in Orlando, a metro with robust macroeconomic fundamentals, favorable demographics and a clear growth outlook. This latest acquisition supports our strong conviction in the U.S. multifamily sector and align with our strategy of acquiring stable, highly occupied brand-new assets benefiting from the strong and rising rental market. We are looking forward to growing our successful partnership with Middleburg.
The Baldwin, which opened last month, offers a state-of-the-art living environment within walking distance of many of Orlando s business and leisure generators, including the region s premier employment and education corridor. The community is ideally located adjacent to the upscale and affluent Baldwin Park neighborhood and centrally positioned between Interstate 4, State Route 408 and 417, making it just a 20-minute drive from more than 449,000 jobs.
The attainable residential community, which comprises nine, three-story residential building situated on approximately 10.5 acres, offers multiple 1-, 2- and 3-bedroom floorplans complete with modern and upscale fixtures including gourmet kitchens, designer-plank flooring and wireless thermostats and lighting controls. The Baldwin also features numerous resort-style amenities, such as a swimming pool with pavilion, 24-hour fitness center, clubhouse, co-working station, dog park with pet spa, Amazon hub package center, EV charging stations and more.

COLUMBUS, OH – The Champion Companies, one of Ohio s leading multifamily investment, development and management firms, announced the acquisition of the Northpark Place apartment community. At 472 units, Northpark is one of the larger apartment complexes in Central Ohio and located in the ever popular Polaris submarket.
To consummate the transaction Champion negotiated with 14 separate owners at the site and engineered a simultaneous closing of over $80 million in real estate. The process of aggregating ownership – known as unfracturing – has been a hallmark strategy of Champion s for years. Besides allowing for greater flexibility and control of a site, unfracturing helps Champion maintain its edge in an increasingly competitive market.
Communities with multiple owners can lead to deferred maintenance, irregular leasing policies and a general degradation of the property. These are the inconsistencies our team will address to create a superior living experience for the residents, said Brian Hoar, Champion s Chief Investment Officer. Our commitment to Northpark reflects the value we see in providing first-class apartment communities across Central Ohio.
While the final project scope is still in development, Champion plans to undertake a substantial renovation at the site, including common areas, building exteriors and in-unit features. The company has previously executed similar projects in Polaris, an area the Westerville-based firm considers its backyard and a core market for long-term growth.
Champion s belief in Polaris specifically and Columbus in general explains why the company is willing to pursue even the most challenging transactions.
Deals like this with multiple owners are typically avoided in the industry due to the complexity of negotiating with several parties, said Brian Yeager, CEO and co-founder of The Champion Companies. But we ve never been afraid of hard work at Champion. We see opportunities where others don t and we move on them with passion, speed and determination.

AUGUSTA, GA – 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 Lakeside on Riverwatch Apartments, a 200-unit garden-style multifamily community in the Augusta suburb of Martinez, Georgia.
“Lakeside on Riverwatch is located in an exceptional area, near the town ranked as the best place to live in the U.S. and the fourth fastest growing county in Georgia between 2010 to 2020,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This is Capital Square’s sixty-second acquisition of a multifamily community for the DST/1031 program. Capital Square is bullish on multifamily investments like Lakeside on Riverwatch because they have the potential to provide both stable cash flow and appreciation for investors.”
Located at 4300 River Watch Parkway, the 19.28-acre property offers one-, two- and three-bedroom units averaging 1,109 square feet. The seller recently completed renovations on 95% of the apartment homes, which included the addition of new black or stainless-steel kitchen appliances, resurfaced countertops, faux wood vinyl flooring, kitchen backsplashes and updated lighting fixtures. Community amenities include a recently renovated clubhouse and fitness center, a swimming pool with a sundeck, grilling area, package delivery room, and a dog park featuring an agility course and washing station. The property is ideally located on Interstate 20 between Atlanta and Columbia, with easy access to Interstates 95 and 77.
Multiple retail outlets, including Publix, Kroger, Target and Walmart, are located within two miles of the property along Washington Road, a major local thoroughfare. Evans Towne Center Park, which features a splash pad, paved track, and playground, as well the Columbia County Performing Arts Center, are also within two miles of Lakeside at Riverwatch Apartments. Riverside Park, where residents can access the Savannah River and enjoy boating, fishing and other water-related activities, is just five miles from the property.
Augusta is home to several large economic sectors, including advanced manufacturing, aerospace, chemical manufacturing, food manufacturing, customer service, cybersecurity, data centers and logistic centers. The city features 12 hospitals, two biotechnology business incubators, several life sciences companies, and the University System of Georgia’s premier medical university with an aligned clinical treatment and teaching facility. The medical industry is estimated to contribute approximately $10 billion annually to Augusta’s economy, which has the highest concentration of healthcare services in the Southeast and is widely recognized as a “healthcare destination.”4 Top employers in the area include EZGO Textron, Richmond County School System, Graphic Packaging, Ferrara USA, Fort Gordon/Cyber Center of Excellence, and the U.S. National Security Agency – Augusta.
“Lakeside on Riverwatch is an exceptional multifamily community that has been recently renovated and is located amidst a scenic part of the Savannah River basin,” said Whitson Huffman, co-chief executive officer. “The Greater Augusta economy continues to thrive, providing an abundance of quality job opportunities for its residents.”

NEW YORK, NY – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced it has completed the final close for its second real estate private equity fund. HVPG raised $292,420,000 in capital commitments, $42 million more than its $250 million target, from a broad range of institutional investors, including family offices, banks, endowments, foundations, insurance companies, healthcare companies, registered investment advisors and museums.
“The impressive array of institutional investors speaks to the strength of our platform and of this often-overlooked and traditionally undervalued asset class,” said Jason Bordainick, Managing Partner and Co-Founder of HVPG. “Hudson Valley Property Group strives to deliver a better standard of living for our residents and seeks reliable results for our investors. We are motivated to do well by doing good and our work is ensuring that housing stays affordable and within reach for families across America.”
The final close occurred during a period of record growth and investment activity for HVPG. The Firm’s first preservation fund closed in March 2019, with $60 million in capital commitments. It made 13 investments in 25 properties preserving over 4,000 units, on nearly $1B in projects. Today, the second fund has already acquired nine properties across New York, New Jersey, Pennsylvania, Maryland and Rhode Island, including in new geographic areas, like Philadelphia and East Providence, expanding HVPG’s portfolio to seven states. HVPG anticipates preserving more than 10,000 homes with the latest investment fund. During that same timeframe, HVPG’s staff has grown by 54 percent.

RALEIGH, NC – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the acquisition by its Mill Creek Multifamily Value-Add Fund of Alister Lake Lynn, a garden-style apartment community in Northwest Raleigh.
The three-story community, which features 312 apartment homes, is situated just off of Creedmoor Road and sits within the city’s picturesque Northwest area, which is notable for its established neighborhoods with green spaces, tree-lined streets and comfortable ambiance. Alister Lake Lynn benefits from its close proximity to major jobs centers in Raleigh, including the country’s largest research park (Research Triangle Park – “RTP”), Downtown Raleigh (the state capital) and Rex Hospital. Situated at 6421 Campus Drive, Alister Lake Lynn puts residents less than three miles from the popular Crabtree Valley Mall and within a quick commute of many dining and retail options including those at North Hills. Additionally, Lake Lynn Park is located one mile west of the community and features several sports facilities and a 2.8-mile greenway that surrounds the lake.
Propelled by world-class access to talent from three tier-one research universities (NC State University, Duke and the University of North Carolina) and an established innovation-based economy as the home of RTP, Raleigh-Durham (also known as the Triangle) is one of the fastest growing regions in the nation. Its population grew 92% since 2000. Lauded for its relatively low cost of living, highly educated workforce, cutting-edge healthcare and stable local and state governments, the region is attracting economic investment and corporate relocations/expansions.
“We’ve always been a fan of the Raleigh market and the Carolinas in general,” said Jaymie O’Harrow, vice president of acquisitions for Mill Creek Residential. “We’re excited to join the neighborhood, which serves as an ideal backdrop for a comfortable, enjoyable living experience. We believe our upgrades and our team’s trademark service levels will elevate Alister Lake Lynn to a top-of-market living option, and we’re eager to acquaint ourselves with our new residents and the neighborhood.”
Alister Lake Lynn offers one-, two- and three-bedroom homes with various layouts available. Community amenities include a resort-inspired swimming pool, sundeck with shade structures, two resort-style tennis courts, pet park, business center with coworking lounge, WiFi-enabled clubhouse and a 24-hour club-quality fitness center. Residents also have access to valet trash service, a recycling center, an onsite car care center and rentable carports.
Home interiors include nine-foot ceilings, energy-efficient stainless-steel appliances, gas ranges, granite countertops, tile backsplashes, wood plank-style flooring, modern fixtures and finishes, in-home washers and dryers, fireplaces, spacious closets and private patios or balconies. Select homes offer soaking tubs, and third-floor homes include loft layouts.

MCDONOUGH, GA – Vista Residential Partners, a national multifamily development firm, has closed on 33 acres on Jonesboro Road in McDonough, Georgia, for the development of Oak Grove Vista, a 348-unit mixed use development. Oak Grove Vista will be the first development of its kind in McDonough and will welcome residents in Spring 2024.
Strategically located along Atlanta’s key transportation artery, Intestate-75, Oak Grove Vista’s location appeals to those who desire a suburban lifestyle while maintaining direct thoroughfares to the economic hubs of Atlanta CBD, Hartsfield-Jackson International Airport, and the immense South Atlanta Industrial Corridor.
Located along I-75, Georgia’s primary logistics corridor lies between the world’s busiest airport and the expanding Port of Savannah. McDonough provides the ideal strategic location for large distribution centers and provides convenient access to over 285,000 jobs. Via I-75, Oak Grove Vista offers a quick commute to Hartsfield-Jackson International Airport, the largest job base in the state with 63,000 direct jobs and 450,000 indirect jobs.
“Henry County’s spectacular growth is similar to what occurred in Gwinnett County during the 80s and 90s,” said Eduard de Guardiola, CEO of Vista Residential Partners. “We have made a significant financial commitment to this area and are excited to be a part of its success story for the next decade.”
The community will offer a mix of one-, two-, and three-bedroom apartment homes averaging almost 1,000 square feet. Designed by architect Niles Bolton, the garden style apartments will feature stainless steel appliances, 9-foot ceilings, vinyl plank flooring, in-unit washers and dryers, and dining size kitchen islands. Oak Grove Vista will also feature a luxury clubhouse, resort style pool, co-working space, fitness center, a large pet park, walking trail, 24/7 package concierge, and 30,000 SF of walkable retail and restaurants.
“The Vista team is thrilled to continue to build on our recent success in Henry County with what will be a unique development offering residents a lifestyle option that was previously only available in more urban locations,” said Michael Neyhart, Managing Director for Vista Residential Partners. “The booming economic activity and population growth in McDonough is driving demand for high-end retail, restaurant, and housing options.”