PLANTATION, FL – MAXX Properties, a privately held, a vertically-integrated multifamily owner, operator and investment manager, announced the acquisition of The Ellery, a 250-unit, Class A multifamily community located in Plantation, a highly desirable submarket in South Florida. The transaction was sourced directly through an off-market arrangement with the seller.
Originally built in 2018, the community – formerly known as Bell at Plantation – has been rebranded as The Ellery, reflecting MAXX’s long-term vision for the property and its connection to the local community. The name pays homage to Ellsworth D. Gage, the first mayor of Plantation, grounding the asset in the city’s history while positioning it for future growth.
“This acquisition reflects our continued focus on high-quality communities in strong submarkets where we can create long-term value through hands-on ownership and operational expertise,” said Adam Fruitbine, Chief Investment Officer of MAXX Properties. “We’re excited to build on The Ellery’s strong foundation while enhancing the residential experience.”
The Ellery offers luxury one-, two-, and three-bedroom residences across eight lakeside buildings, blending modern design and resort-style living. Homes feature stylish interiors, open-concept layouts, and private balconies, along with a full suite of community amenities including a pool with private cabanas, yoga and boxing studios, a private movie theater, and scenic waterfront walkways. Set in the heart of Plantation, the community offers a tranquil lifestyle with convenient access to employment, dining and premier shopping destinations, including Sawgrass Mills.
As part of its strategy, MAXX Properties plans to implement a series of capital improvements designed to enhance the resident experience. Planned upgrades include enhancements to curb appeal, refreshed amenity spaces, selective interior unit renovations, and the integration of new technology offerings.
The acquisition brings MAXX Properties’ portfolio to 35 communities and approximately 9,400 units across seven states, further strengthening its footprint in the South Florida region.

FORT WASHINGTON, PA – Local officials joined prominent East Coast developer Jefferson Apartment Group (JAG) and equity partner CP Capital to celebrate J Veridian Upper Dublin, an amenity-rich, 310-unit Class A community in Fort Washington, Pennsylvania.
Located at 1125 Virginia Drive, the site of a former office park, the community comprises three 5-story buildings and 8 acres of walkable open space with a 1.4-mile trail connecting to the Cross County Trail.
Upper Dublin Township has worked to revitalize and reimagine the office park as a mixed-use hub with commercial, residential, and recreational offerings.
And up until today, the residential was missing, Upper Dublin Township Commissioner Harm Scherpbier said during the April 14 ribbon-cutting. I believe that more residential buildings help create the atmosphere people are looking for in this area, so thank you Jefferson Apartment Group for bringing J Veridian to our township.
The community s outdoor amenities include two pickleball courts, a dog park, community garden plots, and a private resort-style courtyard featuring a swimming pool, grilling stations, fire pits, hammocks, pocket parks, and lounge areas.
Robust indoor amenities also enhance a resort lifestyle at J Veridian. Residents enjoy a grand clubroom with entertainment kitchen and double-sided fireplace, game area with billiards, shuffleboard, and arcade gaming, a theater with surround sound, leading-edge fitness center, a co-working area with office pods, and more.
Jefferson Apartment Group is proud to create communities that elevate apartment living for residents and increase much-needed housing supply, said Drew Chapman, JAG Senior Vice President and Development Partner. Our partners at CP Capital shared our vision for J Veridian Upper Dublin and recognized the high-impact potential of this development. We are pleased to have forged this new relationship with them and are hopeful to continue investing together.
Units at J Veridian include 1- to 3-bedroom floor plans. Every apartment reflects JAG s luxury standard, including top-line quartz countertops, stainless steel appliances, tile backsplashes, and sleek plank flooring in the living areas.
Multifamily remains a necessity-driven asset class, where demand for high-quality, accessible housing endures, said Jay Remillard, Executive Managing Director at CP Capital. We are excited to meet this demand in the Philadelphia region with a project and partner that exemplifies market-leading multifamily that aligns with our long-term investment strategy of capitalizing on market cycles and strong supply-demand fundamentals.

WEST BABYLON, NY – Preservation Equity Fund Advisors (PEF Advisors), a real estate private equity group focused on preserving existing affordable housing in high-cost markets, announced their recent acquisition of Belmont Villas, a 164-unit apartment community in West Babylon, New York. Belmont Villas is located in Suffolk County, a high-cost rental market on Long Island’s South Shore.
The units at Belmont Villas are restricted to residents aged 55 and older. The property is located on Long Island, approximately one hour from New York City. Built with low-income housing tax credits in 2009, the property is restricted to residents with income levels at 60% of Area Median Income (AMI).
The property is comprised of eight two-story residential buildings in a low-density setting with 13.9 units per acre. The property features 164 one-bedroom units averaging 1,100 square feet; units include an extra room for a den or guest bedroom, providing a competitive edge to other one-bedroom units in the market. Property amenities include a clubhouse, gated access, fitness center, library, game room, and picnic area with barbecue.
Resident amenities include balconies or patios, in-unit washer/dryer, vinyl plank flooring, granite countertops in select units, central heating/cooling, and fully equipped kitchens. As of closing, the property was 98.8% occupied.
“Long Island continues to experience a significant shortage of affordable housing, particularly for senior residents. Belmont Villas benefits from this strong demand dynamic, which supports long-term occupancy, rent stability and creates a highly resilient investment income profile,” said Ann Caruana, President and Chief Investment Officer at PEF Advisors. She continues, “We’re pleased to acquire a high-quality property from a respected developer, recapitalize it to address deferred maintenance, and ultimately preserve the affordability when the property becomes at-risk towards the end of our hold period.”

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 (MHCDO), announced the financial closing and groundbreaking of The Waymark, a 109-unit, affordable community in Washington, D.C. s Ward 7. The new housing development will be reserved for families and individuals earning up to 30%, 50% and 80% of the Area Median Income (AMI).
The milestone underscores The NRP Group s commitment to expanding its national portfolio of high-quality, best-in-class affordable housing at a time when the country faces heightened economic uncertainty and tightening capital markets.
This is a uniquely challenging site, but it offers great connectivity through the nearby Metro station and bus lines, said Chris Marshall, Vice President of Development at The NRP Group. The Waymark exemplifies our strategic approach: partnering with mission-driven organizations like MHCDO to fearlessly tackle tough but very well-located sites, to ensure that cost-burdened families can afford easy access to transportation options and daily amenities. This project is a testament to the District s commitment to ensuring essential housing remains viable, even as development hurdles intensify.
Located at 4435 Benning Road NE, the transit-oriented community is just one block from the Benning Road Metro Station and multiple bus lines, offering residents means to reach the entire District. The site provides nearby bike-share access and pedestrian-friendly infrastructure, creating a highly walkable environment in a neighborhood where land availability is limited and parking is scarce.
The project coincides with the District s broader revitalization efforts, including the planned redevelopment of the RFK Stadium site and the return of the Washington Commanders in 2030. The housing development is located one stop away from the Stadium-Armory station, giving residents quick access to the RFK Stadium campus, which is undergoing a transformative $2.7 billion redevelopment that will create approximately 14,000 construction jobs and 2,000 permanent positions, fueling economic growth in Ward 7.
MHCDO has proudly served under-resourced neighborhoods in Washington, D.C. for more than 45 years, and we are honored to collaborate with The NRP Group on this transformative project, said David Retland, Chairman of Marshall Heights Community Development Organization. Our headquarters is located just six blocks from the new development, which allows us to remain deeply connected to the residents of this community. This partnership sets a new precedent for delivering high-quality affordable housing that ensures residents have access to the resources they need to thrive. Through our holistic approach to economic development, we aim to help Ward 7 residents move up the economic continuum and create pathways to better lives and greater opportunities.
The Waymark comprises a mix of studios, one-, two- and three-bedroom residences, including 22 permanent housing units reserved for individuals at risk of homelessness or previously unhoused.
The 109-unit, single-building apartment spans nine floors and features a wide range of amenities. On the first floor, a multi-use space will serve as a hub for resident programs, while the second floor will feature a fully equipped fitness center and a reservable family function room for events and gatherings. MHCDO will provide a robust suite of resident services, including financial literacy workshops, job readiness training and access to professional development opportunities.
Outdoors, residents will enjoy a landscaped front lawn along with a well-designed playground and seating areas that encourage social interaction. In addition, the project will include a placemaking art installation to reinforce neighborhood identity and contribute to the beautification of the site. The piece will be highly visible and created by a local artist.
Financial partners for the new development include a mix of public and private institutions, including the DC Department of Housing and Community Development (DHCD), which provided soft debt; the DC Housing Finance Agency (DCHFA), serving as the bond issuer; and DC Green Bank, supporting sustainable development initiatives. Private sector partners include KeyBank as the lender and U.S. Bank as the tax credit investor.
This project exemplifies what can be achieved when public agencies, private partners, and the community work together, said Colleen Green, Director of the DC Department of Housing and Community Development (DHCD). It is truly responsive to the housing needs of District residents and reflects our commitment to long‑term affordability, equitable development, and expanded pathways to economic mobility.
The Washington, D.C. metropolitan area remains a priority for The NRP Group and the firm s latest expansion reflects strong confidence in the region s long-term rental housing market. The NRP Group has developed more than 68,000 apartment homes since 1994, and currently manages over 33,000 residential units across the U.S.
Construction for The Waymark will be completed by the end of 2027.

NEW YORK, NY – GID, a vertically-integrated real estate owner, operator, developer and investor with $32.1 billion in assets under management, announced the continued expansion of GID Residential Partners, its national development platform, with a strategic entry into the Mid-Atlantic market. The initiative will be led by industry veteran Duncan Jones, who joins the firm as Senior Managing Director.
Building on GID s longstanding multifamily development experience, the entry into the Mid-Atlantic market, comprising Maryland, Washington D.C., Northern Virginia and North Carolina, represents an extension of the Company s recently announced GID Residential Partners platform. GID’s presence across these states reflects the firm’s ongoing focus on expanding its private market real estate strategies in markets where fundamentals — including population growth, employment trends, and housing demand — have historically supported real estate investment activity.
Expanding into the Mid-Atlantic represents a natural next step as we strategically scale GID Residential Partners, said Sean Caldwell, President of GID Residential Partners. The region offers a compelling opportunity for long-term growth, and Duncan s strong experience across these markets positions him well to lead our efforts and establish a meaningful presence.
Mr. Jones has 20 years of direct multifamily real estate experience, including 16 years as a developer across the broader Mid-Atlantic region, including Virginia, Washington DC, suburban Maryland and North Carolina. Mr. Jones has led and contributed to 25 communities and over 7,000 homes over the course of his career, spanning both rental and for-sale housing across a range of product types. For the past seven years, Mr. Jones led development activity with Akridge, where he served as Senior Vice President and Director of Multifamily.
GID s fully integrated platform provides a strong foundation to execute development opportunities across the Mid-Atlantic, said Duncan Jones. I look forward to working with the team to grow the platform and deliver well-designed communities in these key markets.
GID Residential Partners builds upon GID s vertically-integrated platform, including in-house development, design, construction and property management capabilities. Following its launch last year, the platform has established a pipeline of approximately 3,500 units across Atlanta, Houston, Austin, and Denver. The platform is currently expanding in Florida and Georgia, and plans to continue expanding into key markets in the Northeast, Southeast, Southwest and West.
The Mid-Atlantic presents a strategic opportunity for our residential platform, supported by its resilient economic base and consistent demand for housing, said John Gagnier, President, GID Development. Bringing on experienced leaders like Duncan underscores our focus on building a high-quality team with local insight to support continued expansion in these key markets.
GID has delivered landmark projects, including Waterline Square in New York, High Street in Atlanta and Cirrus and Stratus in Seattle. The firm s vertically-integrated platform provides alignment with partners and consistency, and the expansion of GID Residential Partners will further enhance the firm s visibility in the national multifamily market.

LAS VEGAS, NV – The Bascom Group has acquired The Ellison, a 294-unit apartment community located at 9235 West Russell Road in the Summerlin/Spring Valley submarket of Las Vegas, Nevada. The purchase price was $103,000,000, or $350,340 per unit. Lee Redmond, Nicholas Schroeder, Vincent Punzi, and Lowell Takahashi of Newmark arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The Newmark Investment Sales team led by Jonathan Merhaut, Doug Schuster, and Curt Allsop represented the seller on the transaction. Cushman & Wakefield has been engaged as property manager for the community.
Completed in 2024, The Ellison is a premier Class A five-story apartment community offering studio, one-bedroom, and two-bedroom floor plans averaging 901 square feet. Arguably one of the top apartment communities in the Las Vegas metro, The Ellison stands apart from its competitors with wrap construction that offers eight levels of direct-access structured parking and an expansive rooftop featuring a heated resort-style pool and spa with a jumbotron screen, clubhouse lounge, spin room, Pilates studio, and indoor-outdoor fitness center.
Tom Gilfillan, Vice President at Bascom, stated, “Opportunities like The Ellison do not come around often. This is a brand-new, institutional-quality asset acquired at a basis significantly below what it would cost to build today, in a submarket with one of the strongest long-term growth stories in Las Vegas. We are excited to get to work.”
The Ellison is situated along the I-215 Freeway in “The Curve,” a stretch of southwest Las Vegas with direct access to Summerlin, the Las Vegas Strip, and Harry Reid International Airport. The surrounding area is home to several major developments underway, including the Athletics’ new MLB stadium, Intermountain Healthcare’s Children’s Hospital, and expansions of the Roseman Nursing School and the UNLV Harry Reid Research & Technology Park.
Bascom plans to complete lease-up of the property and implement institutional-grade management through Cushman & Wakefield to optimize operations and enhance the resident experience. Jason Hanna, Senior Principal of Operations at Bascom, added, “The Ellison sets a new standard for apartment living in this submarket, and we are excited to build on that foundation. There is no comparison in the area to the Ellison’s incredible rooftop with the heated resort-style pool, jumbotron screen, clubhouse lounge, spin room, Pilates studio, and indoor-outdoor fitness center – all with amazing views of the Las Vegas strip.”
Since 2013, Bascom has been one of the most active buyers in Las Vegas, having acquired 37 properties totaling 9,959 units across the metro, representing over $1.4 billion in total acquisition cost. The firm currently owns nine communities in the market and has previously owned two properties within half a mile of The Ellison, including Spectrum Apartments, which is located directly across the street. Tom Gilfillan added, “The Ellison is a notable example of why we keep coming back to Las Vegas. The Summerlin/Spring Valley submarket consistently outperforms the metro, with stronger demographics, higher income levels, and demand drivers that are real and growing.”

LYNNWOOD, WA – American Capital Group (ACG), a full-service real estate investment and development company, and Clarion Partners, a leading real estate investment manager, announced the completion and opening of Enso Apartments, a 316-unit multifamily community located at 19630 40th Ave W, Lynnwood, Washington.
Enso Apartments is a transit-oriented development (TOD) located within a federally designated Qualified Opportunity Zone in the heart of Lynnwood City Center. Ideally positioned along Interstate 5 and walkable to the Lynnwood Link Light Rail Station, Enso offers residents convenient access to Downtown Seattle and connections to major employment centers across the Greater Seattle area. The development reflects ACG and Clarion s focus on transit-connected, high-growth markets where quality housing investment creates lasting community value.
The community features 316 apartment homes – a mix of studios, one, two, and three-bedroom floor plans – alongside approximately 3,950 square feet of retail space. Residents of Enso will enjoy a robust suite of amenities designed for modern, zen-inspired living, including a central courtyard, state-of-the-art fitness center, yoga studio, game zone, co-working spaces, and sky lounges with mountain views. All units also feature in-home air conditioning.
Enso is a community we re incredibly proud to bring to Lynnwood, built with thoughtful design, connectivity, and quality housing in mind, said BJ Kuula, CEO of American Capital Group Lynnwood has evolved significantly, anchored by the opening of light rail and a growing renter base that values both access and quality of life. Enso is our commitment to that growth, and we’re pleased to deliver a place residents are genuinely excited to call home.
This development reflects Clarion s continued focus on well-located housing in markets supported by strong demographic and employment fundamentals, said Adam Wheeler, Managing Director at Clarion Partners. Enso Apartments is designed to contribute meaningfully to the evolving Lynnwood City Center area while meeting the needs of today s renters.
Enso Apartments arrives at a critical moment for housing in the Puget Sound region. Snohomish County has experienced steady wage growth, and the Lynnwood submarket continues to attract renters seeking more flexibility and convenient regional access. With the Lynnwood-to-Seattle light rail commute clocking in at just 28 minutes – Enso offers a compelling live-work-play option in one of the Pacific Northwest s fastest-growing corridors.

COLUMBUS, OH – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on Landmark on Scioto, a new affordable housing community in Columbus, Ohio. The development marks LAC’s first ground-up construction project in the State of Ohio and will provide 321-units of high-quality, affordable housing to residents earning up to 60% of the area median income (AMI).
“LAC is proud to partner with state and local leaders to deliver homes that support families, strengthen neighborhoods and contribute to Columbus’ long-term vitality,” said James Riley, LAC Vice President and Regional Project Partner. “Landmark on Scioto represents a meaningful investment in this community, and we look forward to providing high-quality, affordable housing to the individuals and families who call Columbus home.”
Situated on 44.5 acres, Landmark on Scioto is a Build-to-Rent (BTR) community of one- and two-story buildings featuring 321 2-, 3- and 4-bedroom homes. Communal amenities will include a fitness center, pool, clubhouse, outdoor eating and grilling areas and a variety of open spaces throughout the community. LAC also plans to dedicate roughly 7 acres of the site to the City of Columbus, which will ultimately be converted into a public park.
Riley was joined at the event by local leaders and elected officials, including U.S. Representative Mike Carey (OH-15), Ohio Housing Finance Agency Executive Director Bill Beagle, and OCCH President and CEO Catherine Cawthon.
“Landmark on Scioto marks a significant advancement of the OCCH mission to create affordable, sustainable communities that empower residents and enhance their quality of life,” said Catherine Cawthon, President and CEO of OCCH. “It is a wonderful example of the commitment our partners have made to the Columbus community.”
“We are grateful to our partners and stakeholders for their support in expanding access to high-quality affordable housing in Columbus, and we look forward to seeing the lasting impact this development will have on the residents it serves,” added Riley.
Construction on Landmark on Scioto is underway, and the community is expected to begin leasing in the summer of 2026, with full completion expected in 2028.

DALLAS, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Ardan community in Dallas, TX. Built in 2018, the Class A, 389-unit high-rise community is located in the desirable West Village neighborhood of Uptown Dallas.
Knightvest plans to implement a comprehensive value-add renovation program at Ardan, investing significant capital to modernize the large indoor amenity space, including a full upgrade of the clubhouse, fitness center, and pool area to better compete with newer luxury product in the submarket. A select number of units will also be renovated to a premium finish level, complemented by enhancements to common areas, landscaping, and technology offerings such as smart home features and bulk Wi-Fi. Together, these improvements are designed to elevate the resident experience and firmly position Ardan within the top tier of the Uptown Dallas market.
“At Ardan in Uptown, we are genuinely excited to continue our strategy of acquiring premier institutional-quality properties at deep discounts to replacement cost. These opportunities allow us to deliver exceptional value to our investors while positioning high-quality assets for long-term growth and outperformance in a recovering market,” said David Moore, Knightvest founder and CEO.
Situated in one of Dallas’ most affluent and walkable neighborhoods, Ardan provides residents with immediate access to Uptown, Downtown, Knox/Henderson, and the Katy Trail. The acquisition further deepens Knightvest’s footprint in Dallas’ urban core, positioning the firm to drive performance through concentrated market knowledge and a proven track record of execution.

ST PETERSBURG, FL – National multifamily developer Wood Partners officially closed on Alta Roosevelt in St. Petersburg, Florida. The centrally located 381-unit multifamily community is slated to break ground in May and deliver in April 2028.
Alta Roosevelt was entitled through the City of St. Petersburg’s affordable housing code and Florida’s Live Local Act, which allows for multifamily development on sites not originally zoned for residential use. As part of the project, 40% of the units will be reserved for residents earning at or below 120% of the area median income, helping meet demand for attainable housing in the market. The development will involve demolishing the existing office building, while the structured parking garage will be retained and upgraded to serve future residents.
“We’re looking forward to partnering with the City to deliver much-needed, high-quality attainable housing to the area,” said Tyler Hurd, managing director at Wood Partners. “There’s strong demand in St. Petersburg, and this project not only provides modern living options, but also creates spaces that help residents connect with the broader community.”
Alta Roosevelt is situated on 11.56 acres along Roosevelt Boulevard in the Gateway district, just 10 minutes north of downtown St. Petersburg, offering convenient access to major employment hubs and surrounding neighborhoods. Additionally, the site directly abuts the Power Design headquarters campus, a prominent Tampa Bay–based company, which includes a publicly accessible park and trail system, and is located near the Raymond James and Jabil office campuses, two of the region’s largest employers.
The five-story community will feature a mix of one-, two- and three-bedroom apartment layouts. Amenities include a resort-style pool, grilling stations, garden pavilions, a state-of-the-art fitness center and a wellness-focused spa area with a cold plunge and sauna. Residents will also have access to a clubhouse with co-working spaces, a game room, lounges and a golf simulator.