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.”

SYRACUSE, NY – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, together with W5 Group, a leading global investor in Innovative Living projects, has closed on its acquisition of a 2-acre site in the University Hill neighborhood, one block from the northern border of the Syracuse University campus in Syracuse, New York.
The partnership has commenced the development of The Standard at Syracuse, a 600+ bed, 210-unit student housing community at 910 Madison St. and will preserve the Temple Concord sanctuary, listed on the National Register of Historic Places, as part of the project. The Standard at Syracuse will be the first purpose-built student housing project in Syracuse to include five-bedroom floorplans and is expected to open for occupancy in 2026. Landmark Construction, the in-house general contractor for Landmark Properties, is managing construction on The Standard at Syracuse.
“Beyond the remarkable location on the north side of the Syracuse University campus, The Standard at Syracuse will provide much-needed housing for students at Syracuse University,” said Wes Rogers, President and CEO of Landmark Properties. “Our work on the ground, with the city of Syracuse and the surrounding community stakeholders combined with our vertically integrated design and construction platform, has set us on a course to create an amenity-rich lifestyle experience for students. The preservation of the existing sanctuary structure also adds a distinctive historical element to the project, while maintaining the character of the surrounding neighborhood. We are excited to have closed our seventh investment with W5 Group.”
“The Standard at Syracuse typifies our Innovative Living investment strategy and will provide a green, state of the art, bed-bath parity, community oriented highly amenitized flexible living solution for students,” said Ralph Winter, founder of W5 Group. “Syracuse University is a leading private R-1, Power 5 university with a long history of academic, research and sporting excellence. Micron Technology’s plans to build a $100 billion semiconductor in the area will serve to further bolster Syracuse University. We are excited about the Syracuse University’s partnership with Micron to support workforce development and innovation in the semiconductor industry and the University’s plans to increase Engineering and Computer Science enrollment by 50% and the addition of 50 new faculty members and a doubling of research expenditures by 2028.”
The Standard at Syracuse will be steps from the Marshall Street entertainment district and the 76-acre Thornden Park with its pool, rose garden, and outdoor amphitheater. It will include a mix of floor plans ranging from studios to five-bedroom floorplans at a variety of price points, appealing to a broad group of students. Every fully furnished unit will include private baths, hardwood-style flooring throughout, in-unit washers and dryers and plantation blinds. Apartments will also feature gourmet kitchens appointed with quartz countertops, designer cabinets and stainless-steel appliances. Select units will include private balconies.
Landmark Properties plans to preserve the original Temple Concord structure – built in the early 1900s – and incorporate it into The Standard at Syracuse by creating 4,750 square feet of distinctive amenity space for residents. Current plans call for the building to be transformed into a well-appointed gathering space to unwind, study and socialize. The amenity package will also include a 24-hour fitness center as well as a sauna, several study areas, and a large outdoor hot tub. A parking deck will feature covered parking with 220 spaces for resident use.
The Standard at Syracuse will be Landmark Properties’ second student housing delivery in New York, the first being The Station Buffalo, proximate to the University at Buffalo in Buffalo, NY.

DELRAY BEACH, FL – The Milestone Group announced its acquisition of the Axis Delray Beach Apartments, a 488-unit, garden-style multifamily community located at 1495 Spring Harbor Drive in Delray Beach, FL. The purchase price was not disclosed.
“The acquisition of Axis Delray Beach compliments Milestone’s current portfolio, and our team was again able to source an off-market opportunity and executed a creative transaction that met the seller’s timing expectations,” said Milestone Vice President of Acquisitions, Jason Wise. “And while the asset has been institutionally maintained and significant dollars have been spent on unit interior renovations by the seller, we have crafted a very thoughtful and thorough overhaul of the common area amenities, landscaping, and building exteriors that will not only greatly enhance the curb appeal of the asset but will also provide both new and existing residents with a next-level living experience. We expect this multi-million-dollar project to begin immediately.”
Axis Delray Beach features a unique mix of one-, two-, and three-bedroom garden and townhome-style apartments in a lakefront, resort-style setting. Residents enjoy easy access to immediate retail options including Whole Foods and Trader Joe’s along with abundant retail and dining options in downtown Delray Beach, which is only two miles away. Axis Delray Beach is minutes from I-95, the Florida Turnpike, and the Delray Beach Tri-Rail Station, all providing quick access to major employers and demand drivers.
Community amenities include two resort-style pools, a recently built resident clubhouse, two fully renovated fitness centers, and a bark park. Inside the units, residents will find upscale finishes such as white shaker cabinets, white quartz countertops, stainless-steel undermount sinks, and stainless-steel appliances.

MADISON, WI – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, celebrated their groundbreaking yesterday on the future site of The View and The Victoria at Huxley Yards, during a ceremony with LAC leaders, local policymakers and partners. The Huxley Yards developments will provide a combined 553 affordable housing units to individuals, families and seniors in Dane County earning less than 50%, 60% or 70% of the Area Median Income.
“Lincoln Avenue Communities is proud to break ground on the largest ground-up affordable housing property to be developed in Wisconsin,” said Jeremy Bronfman, LAC CEO. “Once completed, Huxley Yards will provide hundreds of high-quality, affordable homes for Madison residents.”
The View will provide 303 affordable housing units for families and individuals, and The Victoria will provide 250 affordable units for seniors. The View and The Victoria at Huxley Yards will also be the first new construction development established under Madison’s Oscar Mayer Special Area Plan.
“The Oscar Mayer Special Area Plan envisions an entirely new neighborhood for the City of Madison. This project will help that plan come to fruition,” said Matt Mikolajewski, City of Madison economic development director. “We are grateful for the investment that Lincoln Avenue Communities is making in the City of Madison and appreciate all the work of the Lincoln Avenue Communities team to get us to this groundbreaking.”
The properties will offer community amenities and resident services, such as job training and nature classes. The View will feature a pool, community classroom, fitness center, and an active playground area. The Victoria will include a club room, craft room, fitness center, two rooftop courtyards, and a fenced dog run, among other amenities. Both properties will be Wisconsin Green Built Home certified and incorporate sustainability features such as rooftop solar system.
“LAC is committed to creating innovative housing solutions in the nation’s fastest growing metropolitan areas,” said Kevin McDonell, LAC vice president and regional project partner. “The View and The Victoria are especially important developments for families and seniors facing limited housing in Wisconsin’s capital.”
The developments are financed by Federal Low-Income Housing Tax Credits provided by the Wisconsin Housing and Economic Development Authority and the National Equity Fund; Solar Tax Credits purchased by the NEF; an Opportunity Zone Fund Investment; a Citi Cash Collateralized Taxable and Tax-Exempt construction-to-perm loan; tax increment financing from the City of Madison; and a Brownfield Idle Sites Grant from the Wisconsin Economic Development Corporation.
“We are grateful to the Wisconsin Housing and Economic Development Authority, National Equity Fund and Citibank for their support,” said Kyle Brasser, LAC vice president and regional project partner. “Their partnership, along with the City of Madison’s collaboration, has been crucial in bringing a vibrant new community to Madison.”

COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for Alta25, a 264-unit Class A multifamily community in the Colorado Springs suburb of Monument. The first residents began moving in during spring of 2024 and the community is nearly 30% leased.
“Thompson Thrift has been developing apartment communities in Colorado for more than 14 years, and we seek to leverage our experience to create communities that meet the needs and desires of area residents,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “We think Alta25 delivers on style, luxury and convenience.”
Located at 1320 Herman View Way, Alta25 offers one-, two- and three-bedroom apartment homes, in three-story garden-style buildings. The homes provide luxury finishes including gourmet bar-kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, an Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, detached garages, as well as patio, balcony, and private yard options.
The luxury-living experience continues throughout the community with a 24-hour fitness center, resort-style swimming pool, thoughtfully designed courtyards, grilling stations, an outdoor game area, an electronic firepit with seating area, a dog park, pet spa with grooming station, and much more.
Alta25 sits adjacent to Monument Marketplace, which is home to over 658,000 square feet of retail and restaurants, and within The Village at Jackson Creek, a mixed-use project currently in development. Historic downtown Monument, less than three miles north, offers small-town charm filled with unique and locally owned boutiques, restaurants, galleries and spas.
Thompson Thrift expects construction to conclude this fall. At the ribbon cutting, visitors were able to view model tours and see the professionally decorated clubhouse and community amenities. Additionally, in support of Thompson Thrift’s commitment to community outreach, they presented a check to local non-profit Paws N Hooves to aid their efforts in saving abandoned and neglected pets, reuniting lost pets with their families and helping connect animals with new families to care for them.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.