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Company NewsInvestment SalesKentuckyMidwestNewsNortheastOhioOklahomaSoutheast

Morgan Properties Buys Dream Residential REIT for $345 Million

by Lynn Peisner

CONSHOHOCKEN, PA. — Morgan Properties has acquired Dream Residential Real Estate Investment Trust, a public Canadian REIT, for $345 million. Acquisition of the Toronto-based REIT included 15 properties now privately owned by Conshohocken-based Morgan Properties. The properties comprise 3,300 units in metro areas throughout Texas, Ohio, Kentucky and Oklahoma. Morgan will invest $58 million in interior and exterior enhancements and amenity upgrades in the 15 communities, which were developed between 1968 and 2002. In 2025, Morgan has completed $1.5 billion in acquisitions, comprising approximately 14,000 units and 80 properties. TD …

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GeorgiaInvestment SalesNewsSoutheast

Bell Partners Buys Property in Atlanta’s Druid Hill-Emory Area

by Lynn Peisner

ATLANTA — Bell Partners has acquired Rock Springs Village in Atlanta. The seller and sales price were not disclosed. The 558-unit property was developed in three phases in 1987, 2003 and 2005. Greensboro, North Carolina-based Bell Partners bought the property with a value-add fund and is planning renovations to units and common areas. It will be rebranded as Bell Rock Springs. The community features two pools and two fitness centers, a clubroom and outdoor gathering areas. The property is adjacent to Bell Morningside, a 110-unit asset Bell Partners acquired in …

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Investment SalesNewsNorth CarolinaSoutheastVirginia

Newbrook Capital Partners Buys Two-Property Portfolio for $58.2 Million

by Lynn Peisner

CHESAPEAKE, VA., ELIZABETH CITY, N.C. — Newbrook Capital Properties has acquired a two-property portfolio for $58.2 million. The assets are Green Tree, a 208-unit garden-style property in Chesapeake, and Emerald Lake, a 132-unit garden-style property about 40 miles south in Elizabeth City. Both communities were developed in the 1990s. The buyer is planning to update approximately 70 percent of the portfolio’s units. Newbrook Capital Properties was co-founded in late 2023 by hedge fund manager Robert Boucai and James Broyer, former president of multifamily investments at JRK Property Holdings. The unnamed …

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CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

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Adria-Venice
DevelopmentFloridaNewsSoutheast

The NRP Groups Opens Dual Gulf Coast Properties

by Lynn Peisner

VENICE, FLA. — The NRP Group has completed development of Adria and Maren, two properties within 2 miles of each other in Venice, about 21 miles south of Sarasota. PointeOne Holdings was the equity partner in the development, marking the investment firm’s sixth project with NRP. Adria and Maren were designed by Slocum Platts Architects. Together, they include 665 units. The 335-unit Adria offers one-, two- and three-bedroom floor plans while Maren comprises 330 units offered as studios, one-, two- and three-bedroom layouts. Both communities include three-bedroom townhome options with …

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ColoradoFinanceFloridaNewsSoutheastTexasWestern

Walker & Dunlop Arrange $192 Million ReFi for Cortland

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has arranged a $192 million Freddie Mac loan on behalf of Cortland, an Atlanta-based investment, development and property management firm. Cortland will use the funds to refinance mortgages of three properties: Cortland at the Hammocks I and II in Miami, Huntington Glen in Dallas and Cortland Congress Park in Denver. Together, the properties comprise 1,137 units. Across all three assets, Cortland has executed a capital improvement program, investing in interior and exterior upgrades to reposition the communities. The Walker & Dunlop capital markets team was …

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The-Opaline-Nashville
Affordable HousingDevelopmentNewsSoutheastTennessee

Holladay Begins Development of The Opaline, the First Phase of a Nashville Mixed-Use Project

by Lynn Peisner

NASHVILLE, TENN. — Locally based affordable and workforce housing developer Holladay Ventures has secured funding and is expected to break ground in late November on The Opaline, a 251-unit property for renters earning up to 60 percent of area median income. Completion is slated for 2028. The Opaline is the first of three phases of Holladay’s Artist Hill project, a 39-acre master planned community that is projected to include rental and for-sale residential, retail, creative workspaces, green spaces, walking trails and other community amenities. The Opaline’s development site is currently …

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Canopy-at-Babcock-Ranch
Company NewsFloridaIndianaMidwestNewsOperationsSoutheast

Milhaus Acquires Property Management Division of ContraVest

by Lynn Peisner

ALTAMONTE SPRINGS, FLA. — Milhaus, an Indianapolis-based developer, owner and property manager, has acquired the property management division of Altamonte Springs-based developer ContraVest, marking Milhaus’ entry into the third-party property management business and expanding its presence in Florida. Under the agreement, Milhaus will assume residential management at eight multifamily properties. Skyhawk Capital Advisors acted as financial advisor to ContraVest in the transaction. In Florida, Milhaus has developed and manages Canopy at Babcock Ranch, as well as projects in Tampa, such as The Hite and Notch Apartments, Lector 85 and Artistry …

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Loft-One35-Charlotte
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Provides Loan for JV’s Charlotte Acquisition

by Lynn Peisner

CHARLOTTE, N.C. — Mesa West Capital has provided a joint venture between Hillridge Capital and Broad Creek Capital with a $69.8 million first mortgage loan for the acquisition and renovation of Loft One35 in Charlotte’s South End neighborhood. The total acquisition cost was $94 million, according to the Charlotte Business Journal. Loft One35 is a 298-unit, six-story community that offers a mix of loft-style apartments as well as townhomes. Amenities include a resort-style pool, a courtyard with a fire pit and grilling stations, a pet spa, a coffee bar and …

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The-Henslow-Charleston
DevelopmentLeasing & MarketingNewsSouth CarolinaSoutheast

Woodfield Development, Simpson Housing Open Metro Charleston Project

by Lynn Peisner

CHARLESTON, S.C. — Locally based Woodfield Development has completed and opened The Henslow Daniel Island in the Daniel Island master-planned community 13 miles north of Charleston. The project was developed in partnership with Simpson Housing, a Denver-based firm that not only served as an investment partner but also is managing the property. The Henslow Daniel Island is comprised of 63 one-, two- and three-bedroom units and 12 two-story, three-bedroom townhomes. Amenities include a resort-style saltwater pool; a two-story clubhouse with an entertainment kitchen, game room and rooftop lounge; a fitness …

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