KANSAS CITY, MO – Bow River Capital, a Denver-based alternative asset management firm with $4.4 billion in assets under management, announced the acquisition of Brookside Commons, a newly constructed 212-unit Class-A multifamily community located in Kansas City, Missouri. This marks Bow River s third multifamily acquisition in the Kansas City market, following the successful purchases of Gallerie (361 units) and Icon (57 units).
Built in 2023, Brookside Commons aligns with Bow River s investment strategy of acquiring high-quality, undervalued assets in resilient and growing markets. The transaction was completed at more than a 24% discount on today s replacement cost, offering attractive relative value in a supply-constrained market. Financing was arranged through Berkadia s Denver office in partnership with Fannie Mae.
Brookside Commons checks every box for us — newer vintage product, highly desirable location, and strong demand drivers supported by stable and growing employment sectors, said John Layton, Director at Bow River Capital. This investment reinforces our conviction in Kansas City as a long-term growth market and underscores our strategy of acquiring well-located assets at a discount to intrinsic value.
Strategically located near the Country Club Plaza and Downtown Brookside, the property benefits from both proximity to major retail corridors and the economic insulation provided by surrounding medical and education institutions, including Research Medical Center, KU Medical Center, St. Luke s Health System, and the recently announced $34.5 million Center for Clinical Advancement by Research College of Nursing and HCA Midwest Health.
Kansas City continues to distinguish itself among U.S. metros with steady, positive rent growth, defying the national trend of softening rents in oversupplied markets. With a measured development pipeline and increasing demand from healthcare and education professionals, we believe Brookside Commons is well positioned to thrive in a market supported by durable, recession-resistant industries.
Bow River Capital intends to deepen its footprint in Kansas City, taking advantage of current market dislocations and favorable long-term fundamentals. The acquisition of Brookside Commons further expands the firm s growing multifamily portfolio across the central United States.
This latest investment follows Bow River s recent acquisition of Camden Midtown, a 337-unit, three-story multifamily community in Houston. Together, these moves underscore Bow River s strategic expansion across what it calls the Rodeo Region —a collection of high-growth markets across Texas and the central U.S., where demographic tailwinds and value opportunities continue to align.

CHARLOTTE, NC – Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, announced the groundbreaking of The Airedale, a new three-story, 348-unit luxury multifamily community in Charlotte, North Carolina. The Airedale will be Toll Brothers Apartment Living s first rental community in the state. The community is being developed as part of a joint venture with International Capital, LLC and financed through a construction loan facility from TD Bank.
The recent groundbreaking celebration was attended by Toll Brothers Apartment Living leadership and The Airedale s development partners. The Airedale is anticipated to open in fall 2026
We are excited to officially break ground at The Airedale, our first multifamily community in North Carolina, said John McCullough, President of Toll Brothers Apartment Living. Toll Brothers Apartment Living is known for building extraordinary communities in thriving locations, and The Airedale will set a new standard for luxury living in Charlotte.
The Airedale will offer a mix of one-, two-, and three-bedroom floor plans. Each apartment home will include luxury finishes and upscale features, including quartz countertops, stainless steel appliances, soft-close cabinetry with under-cabinet lighting, and kitchen islands. The apartment homes will also feature modular closets, private balconies, and smart home technology.
Residents will enjoy an 8,200-square-foot clubhouse, adjacent to an expansive pool and sundeck with cabanas, an outdoor grilling and dining area, a hammock garden, and green space with lawn games. The community will offer a 24/7 fitness center with individual workout pods and an outdoor fitness lawn, a catering kitchen and a private dining room, a coworking suite with individual work pods and a conference room, a pet spa and a half-acre pet park, and a coffee and hydration bar as well as on-demand beverage taps. Additional community amenities will include a grab and go market, a package room with cold storage, and community-wide Wi-Fi.
The Airedale represents our commitment to delivering thoughtfully designed communities with elevated living experiences, said Michael Skena, Managing Director of Toll Brothers Apartment Living in the Mid-Atlantic region. With modern residences, best-in-class amenities, and a location that puts the best of Steele Creek and Charlotte within reach, The Airedale will offer residents a community defined by comfort, style, and convenience.
The Airedale is situated on a 19.75-acre site located at 13607 Choate Circle in Charlotte. This vibrant area boasts ample dining and shopping, including the RiverGate Shopping Center and Steele Creek Crossing, as well as proximity to outdoor recreation. The Airedale is located near Interstates 77 and 485, and South Tryon Street, giving residents easy access to South End, Uptown, and regional employment centers.

NEW YORK, NY – Pacific Urban Investors, a multifamily owner-operator and investment manager, has completed its eighth acquisition in the New York Metro, increasing its regional portfolio to 1,966 units. The newly acquired community, The Garnett at 146 South 4th Street, consists of 113 units located in the desirable Williamsburg neighborhood of Brooklyn. This investment marks Pacific Urban s 16th property on the East Coast, reflecting continued strategic expansion into key markets, including Boston, the Mid-Atlantic, and the Southeast.
We are excited to expand our East Coast portfolio with the acquisition of The Garnett, a high-quality community located in Williamsburg, one of New York City s most dynamic neighborhoods, said Matt Lederer, Vice President of Investments. Williamsburg remains a submarket of focus for our platform given its proximity to Manhattan, strong demographic trends, vibrant lifestyle amenities, and various transportation options. The Garnett reinforces our commitment to investing in core, job- and amenity-rich locations that provide residents with exceptional living experiences. We are eager to continue expanding across the East Coast and have significant discretionary capital allocated for that purpose.
The Garnett is located right off Bedford Avenue, Williamsburg s primary commercial corridor, known for its restaurants, cafes, retail, and entertainment. Domino Park is a 10-minute walk from the property. The neighborhood offers a residential feel while providing convenient access to major employment hubs, including over 7.5 million jobs across the New York Metro area—more than 4.7 million of which are based in Manhattan s 607 million square feet of office space—and over 1.1 million jobs in Brooklyn alone. Built in 2011, The Garnett is a contemporary high-rise with modern industrial design, functional floor plans, condominium-quality unit interiors, and an expansive amenity set for its size. Amenities include a fitness center, resident lounge, bike storage, laundry room, and a rooftop deck with unobstructed views of the Manhattan and Brooklyn skylines. The property also features both an on-grade parking garage and an above-grade structured parking deck.
The Garnett is an exciting investment for the firm, marking its third in New York City since opening its office there in 2018. Investment economics have improved remarkably over the past few years in the city and demand characteristics have remained extremely favorable resulting in compelling yields and high occupancies. The combination of these two results in an investment that fits squarely within Pacific s mandate, to provide growing and durable cash flows to our investors while preserving a value proposition for our residents, said John Fluke, Managing Director of Investments. Additionally, changes to New York s 421(a) program should result in some incremental headwinds to new supply, further bolstering the operating fundamentals of existing assets, and adding to that durability of income.

SAN ANTONIO, TX – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the acquisition of Woodland Cottages, a purposefully designed, build-for-rent community in the booming town of Fredericksburg, Texas. The 62-unit, active adult community was acquired on behalf of CS1031 Texas Active Adult Living I, DST, which seeks to raise equity from accredited investors.
“Capital Square is bullish on various segments of housing for the Section 1031/DST platform,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “First it was multifamily communities, Class A and B, then age-restricted manufactured housing communities in Florida, next conventional build-for-rent communities in the Southeast and now an active adult build-for-rent community in Texas. Our goal is to provide housing investments that generate both stable returns and strong capital appreciation.”
Located in historic Fredericksburg, at 161 Friendship Lane, Woodland Cottages features ADA-compliant rental homes tailored for active adults. The community has 20 one-bedroom residences, averaging 899 square feet, and 42 two-bedroom residences, averaging 1,355 square feet. Each home includes spacious, open-concept layouts with zero-threshold showers and other aging-in-place features. Community amenities include a 6,000-square-foot clubhouse, where weekly activities are hosted, as well as a swimming pool, fitness center and dedicated resident concierge to foster a vibrant and socially connected lifestyle.
Fredericksburg is one of the fastest-growing regions in the nation. Within a 50-mile radius, the area has had 18.8% population growth over the past five years, driven by its strong appeal among retirees and lifestyle-oriented residents. The region was recognized as a “Top Retirement Dream Area” in 2025 by Scout Report. Additionally, rents in Fredericksburg have increased by 12.2% annually, among the highest growth rates in the U.S.
“The launch of this offering highlights the increasing demand for purpose-built, active adult rental communities in lifestyle-driven markets like Fredericksburg,” said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. “Fredericksburg offers exceptional regional demographics, rising rent trends and expansive regional growth, and we believe that this property is uniquely positioned to provide high-quality housing and the potential for long-term value to our investors.”
Home to over 80 wineries, Fredericksburg ranks as the second most visited wine tourism destination in the nation, just behind Napa Valley, CBS News reported in 2023. Situated 80 miles west of Austin and 70 miles north of San Antonio, Fredericksburg is also renowned for its Main Street historic district. The area has an unemployment rate of 2.7% as of April 2025, a full basis point below Texas’ 3.7% and 1.2 basis points below the national rate of 3.9%, reports Colliers. Approximately 33.9% of the city’s population is 65 or older. More than 1 million people visit Fredericksburg annually, generating $175 million in tourism revenue and supporting around 1,200 local jobs, according to the 2025 Fredericksburg, TX Convention & Visitors Bureau Economic Impact Report.

SAN ANTONIO, TX – Cove Capital Investments Founding Partners, Dwight Kay and Chay Lapin, announced the Delaware Statutory Trust sponsor firm successfully completed the purchase of a brand-new Build-to-Rent multifamily residential home community in San Antonio, TX. The purchase completes the formation of the firm’s Cove Texas Build-to-Rent 97 DST, a Regulation D, Rule 506(c) offering that has a $27,223,181 equity raise.
The Cove Texas Build-to-Rent 97 DST features a community of 83 newly constructed single-family rental units featuring high-end, resort style amenities and located in the thriving city of San Antonio, TX.
“This DST offering offers prospective investors an exceptional opportunity to invest in a trophy asset in one of San Antonio’s most sought-after submarkets. The Cove Dallas Build-to-Rent 97 DST is in direct proximity to some of the city’s largest employers and top-ranked schools, along with offering an extensive amenity package that includes a resort-style pool and a lazy river that continues to be a major attraction for current and prospective tenants,” said Kay.
The Cove Dallas Build-to-Rent 87 DST offering was constructed in 2024 and currently has an occupancy rate of 95% as of July 30,2025. Each of the 83 rental homes has an average square footage of 1,861 square feet. In addition, this DST offering has significant income potential for investors as there is room for potential rental rate increases as leases roll over in the coming months adding to the potential for growing revenue and Net Operating Income (NOI).
With homeownership becoming increasingly difficult for young families due to rising home prices and mortgage rates, the Build-to-Rent or “BTR “real estate asset class has experienced strong demand from both tenants and investors.
For investors, the build-to-rent model delivers critically needed housing inventory to supply-constrained markets, providing for potentially strong demand fundamentals. In addition, because landlords can reset rents each year, the BTR model also provides investors a potential hedge against inflation.
Conversely, while tenants benefit from the flexibility of lease agreements, they are also shielded from the financial obligations typically associated with single-family homeownership such as rising insurance and maintenance costs.

ANN ARBOR, MI – Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition, investment management, and operation of high-quality residential communities, announced the delivery of The Legacy at Ann Arbor, a new, 521-bed student housing community at 616 E. Washington Street in Ann Arbor, MI.
Developed in a joint venture with Cerca Trova and designed by ESG Architecture & Design, The Legacy at Ann Arbor is comprised of two interconnected buildings – a 19-story high-rise and mid-rise structure attached to the historic Michigan Theater. Landmark Construction served as the project’s general contractor. The Legacy at Ann Arbor is fully leased ahead of the 2025-2026 school year.
“We’re confident that this amazing project will exceed the expectations of our new residents who started moving in on August 1st,” said Jason Doornbos, Chief Development Officer at Landmark Properties. “Congratulations to our Landmark Construction team and vendor partners on bringing this project online well ahead of the academic year.”
The Legacy at Ann Arbor offers residents a mix of studios to five-bedroom apartments across 253 units. Well-appointed apartments come fully furnished and wired for high-speed internet and cable. Each unit features stainless-steel appliances, quartz countertops, hardwood-style floors, and in-unit laundry.
The development contains more than 9,700 square feet of amenities, including a rooftop pool deck and resident clubroom with outdoor grilling, a gaming lawn and firepit seating area, a comfortable academic lounge, fitness center and bike storage. The Legacy at Ann Arbor also has 4,150 square feet of ground-floor retail space and on-site gated resident parking. The building is immediately adjacent to the University of Michigan campus and a number of dining, entertainment and retail options in the heart of downtown Ann Arbor.
“When it comes to location, The Legacy is second to none,” says Howard Frehsee, principal of Michigan-based Cerca Trova, LLC, who co-developed the project. “The building is a one-minute walk to the Diag (i.e. the center of campus), less than 10 minutes on foot from Main Street and Kerrytown, and a five-minute walk to South University. Its proximity to campus and other popular attractions not only makes Michigan’s winters more tolerable, but The Legacy’s unparalleled quality, comfort, space, and amenities are deserving of tomorrow’s leaders. Congratulations to our entire Landmark and Cerca Trova teams.”

ORLANDO, FL – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Cortland Vera Sanford community in Orlando, Florida. This successful close represents the ninth investment in Knightvest’s Fund II, which remains open to new investors through 2025.
Built in 2018, the 332-unit apartment community is located in Sanford, Florida, a high-income suburb of northern Orlando. The property features a unique mix of units, including two-story townhomes with attached garages. Knightvest plans to renovate the majority of the units and make substantial upgrades to the community’s amenities and common spaces. As part of the renovation efforts, Knightvest has renamed the community to The Walton.
“This acquisition reflects our continued strategy of targeting high-quality, differentiated multifamily assets in growing Sun Belt markets,” said David Moore, Knightvest founder and CEO. “With a steady influx of new residents, strong job creation, and limited new supply driving sustained demand for quality housing, Orlando exemplifies the kind of high-growth Sun Belt market we target. We’re excited to expand our presence in the region and implement our proven strategy at The Walton by elevating a community through thoughtful renovations.”
The property’s low-density footprint and proximity to major employment hubs underscore its appeal in a market where replicating such a product has become increasingly cost-prohibitive. The acquisition extends Knightvest’s footprint in Central Florida, with additional Orlando-area opportunities in the pipeline.

MIAMI, FL – Olympus Property has expanded into the Miami market with the acquisition of Fifteen, a brand new 132-unit luxury apartment community located in the city’s prominent Health District—one of the largest medical hubs in the country. This marks Olympus’ first asset in Miami and reflects the firm’s expansion into one of South Florida’s leading employment districts, where consistent demand, population growth, and continued economic investment support long-term multifamily performance.
The acquisition underscores Olympus Property’s commitment to identifying supply-constrained, high-demand submarkets with strong underlying fundamentals for institutional-grade housing. The firm will leverage its vertically integrated operating platform and regional scale to increase operational efficiency, sustained value creation, and compelling long-term returns.
“Olympus has been active in Florida for over a decade, steadily growing our presence across the state’s most dynamic markets,” said Alex Badalian, Director of Investments at Olympus Property. “The acquisition of Fifteen reflects our broader strategy of targeting high-opportunity submarkets within major gateway metros. With South Florida’s continued growth and strong rental fundamentals, we see this as an ideal setting to elevate the resident experience while delivering sustainable, long-term results at this asset.”
Tailored to professionals working in and around the Health District, Fifteen delivers elevated design in a well-connected urban setting. The boutique mid-rise community offers walkable access to world-class healthcare institutions, including the University of Miami Health System, Jackson Memorial Hospital, the Miami VA Medical Center, and the forthcoming Kenneth C. Griffin Cancer Research Center—a 244,000-square-foot, 12-story facility scheduled to open in 2025. Residents also benefit from proximity to public transit and an array of nearby amenities. With direct connectivity to the Dolphin Expressway (SR 836) and I-95, the property links seamlessly to major commercial destinations such as Downtown Miami, Brickell, Coral Gables, and the Miami River District.
Walker & Dunlop’s Fort Lauderdale investment sales team, including Still Hunter and Kaya Suarez, arranged the transaction. Financing was secured by Craig West and the TeamWest group at Walker & Dunlop.

SAN DIEGO, CA – Lowe, a national real estate investment, development and management firm, has acquired Tenth & G Apartments, a 207-unit multifamily community located at 707 Tenth Avenue in the heart of downtown San Diego s vibrant Ballpark District.
Lowe has a national strategic focus to acquire high-quality, well-located multifamily properties at current lower valuations that can benefit from enhancements to property operations and/or physical improvements, said Mike Lowe, co-CEO of Lowe.
Built in 2008, Tenth & G is an eight-story apartment community with steel and concrete construction featuring modern loft-style residences and 8,250 square feet of ground-floor retail. The property offers an array of loft style units including studio, one- and two-bedroom units averaging 704 square feet, featuring floor-to-ceiling windows, high ceilings, private balconies and panoramic views of the San Diego skyline and bay. The property sold for $71 million or about $343,000 per unit which is well below replacement cost.
Lowe plans to complete improvements to the property with a new leasing office and co-working space, an expanded fitness center, upgraded common areas and in-unit renovations comparable to similar nearby properties. These upgrades are designed to elevate the resident experience while preserving the property s attainable rent rates.
This acquisition aligns with our national multifamily value-add investment strategy led by Bill Cockrum and strong local market capabilities with operations overseen by our San Diego regional office led by Todd Majcher, added Lowe Executive Vice President Mike McNerney.
The property boasts a Walk Score of 99 out of 100 and is located within a short walking distance of the Gaslamp Quarter, PETCO Park, new East Village Green Park, and Rady Shell at Jacobs Park. Residents enjoy an attractive amenity package including a landscaped courtyard with fire pit, rooftop viewing deck, fitness center and billiards lounge.

DENVER, CO – OlivePoint Capital, a real estate investment manager focused on value-add and special situation opportunities in the lower middle market, announced the acquisition of Stella on the Park, a 2021-vintage mixed-use project located in metro Denver. The transaction was sourced and executed off-market.
The project comprises 216 residential units and 35,000 square feet of retail space. OlivePoint acquired the asset at more than 50% discount to replacement cost. The acquisition was made through OlivePoint’s fund, OPC Fund I LP.
This investment reflects our strategy of targeting high-quality assets where temporary dislocation—whether capital markets or operational—can create outsized value, said Adrian Bejarano, Managing Partner at OlivePoint. We re targeting high-conviction, execution-driven opportunities in overlooked segments of the market and we re excited to leverage our expertise to unlock value at Stella.
We continue to believe the current market offers a rare window to invest in compelling real estate at a meaningful discount to value, said John Bruno, Managing Partner. Stella is a strong addition to our portfolio and reflects our ability to move quickly while taking advantage of the market environment.
OlivePoint will implement a targeted value-add plan including lease-up of vacant residential units, operational optimization, and capital improvements to enhance long-term value.
This investment expands OlivePoint s growing portfolio, which focuses on distressed, mispriced, or undercapitalized real estate across multifamily, industrial, retail, and select office segments throughout the U.S. lower middle market.