RESTON, VA – Comstock Holding Companies, a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced that it has completed the acquisition of The Reed, a 417-unit Class A multifamily property located at 15955 Frederick Road in Rockville, Maryland.
The acquisition was completed on behalf of a joint venture between the Company and a third-party Benefit Street Partners-advised institutional fund. Comstock Partners, LC, a privately held affiliate of the Company, co-invested in the joint venture. Two wholly owned subsidiaries of Comstock, CHCI Residential Management and ParkX Management, will provide best-in-class, customer-focused property management services for The Reed.
Built in 2015, The Reed is located directly adjacent to the Shady Grove Metro Station and within walking distance to the restaurants, shops, and outdoor spaces in Rockville’s bustling King Farm neighborhood. Its floor plans offer everything from cozy 1-bedroom apartments to expansive 3-bedroom layouts, each thoughtfully designed and well-appointed. The property includes a resort-style swimming pool, fitness center with yoga/boxing studio, clubroom, serene outdoor gathering spaces, multiple resident lounges, and a private parking garage.
This investment checks every box for us and we re thrilled to partner with Comstock on this exceptional asset, said Brian Buffone, Head of Equity Investments at Benefit Street Partners. Comstock has a proven track record as a best‑in‑class operator. We re excited to expand our relationship and look forward to creating value together.
The acquisition of The Reed expands Comstock s footprint in the Rockville submarket, where the Company now owns and manages more than 900 apartment units across three transit-oriented, multifamily properties, including BLVD Forty Four and BLVD Ansel.
The Reed is exactly the type of institutional-quality asset we seek as we continue to scale our Institutional Venture Platform, said Tim Steffan, Chief Operating Officer of Comstock. This acquisition demonstrates our ability to deploy capital alongside a high-quality, strategic partner to acquire core, core+ and value-add assets. The Metro-adjacent location of The Reed fits perfectly in our transit-oriented portfolio. With our experienced property management teams in place, we see a clear opportunity to elevate the resident experience and drive value for all stakeholders.

GREENSBORO, NC – Sun Life announced it intends to fully acquire Bell Partners, a leading U.S. multifamily real estate investment manager and vertically integrated property management business. Bell Partners will become the U.S. multifamily operating platform for Sun Life, operating under BGO.
Bell Partners has approximately US$10 billion of Gross Asset Value Under Management as of March 1, 2026. With nine offices across the United States, Bell Partners has close to 1,800 employees and manages approximately 70,000 apartment homes in 12 regions across the United States.
Founded in 1976, Bell Partners offers an extensive full-service vertically integrated national platform of expertise in investment and property management, acquisitions, and construction. Bell Partners has invested throughout all phases of the real estate cycle and has completed approximately US$11.9 billion of realized apartment transactions since 2002, including more than US$1.3 billion in acquisitions in 2025.
The acquisition strengthens BGO to deliver greater value to Clients, enhance its capabilities, and achieve deeper integration across its product offering. Bell Partners brings broader strategic benefits to the BGO platform by enhancing its value-add and core plus product offerings, broadening its investor base, and enabling further expansion in multifamily and multifamily-adjacent strategies in the future.
Sun Life will acquire a 100% interest in Bell Partners for a purchase price of US$350 million, with at least 75% payable in Sun Life common shares. All share repurchases for cancellation under Sun Life’s current Normal Course Issuer Bid (NCIB) have been completed. Any dilution resulting from the issuance of Sun Life common shares in the transaction is expected to be offset by share repurchases under a renewed Sun Life NCIB subject to regulatory and stock exchange approvals. The transaction is expected to be accretive to underlying earnings per share in 2026 on an annualized basis.
“The U.S. multifamily market is a tremendous opportunity of targeted growth for BGO,” said Sonny Kalsi, President and CEO of SLC Management. “The acquisition of Bell Partners broadens BGO’s strategic benefits and gives us vertically integrated property management capabilities, positioning our company as one of the leading U.S. multifamily investment managers.”
Housing remains a priority for governments at all levels across the United States, and these efforts underscore the essential role that experienced, long-term investors and operators can play in providing high-quality, multi-family rental communities.
Kalsi added, “We’re excited to welcome Bell Partners to BGO and SLC Management. Their team’s deep expertise in the multifamily real estate and market cycles will strengthen our organization, while the acquisition supports expanding our array of investment solutions available to our Clients.”
Upon closing, Bell Partners will continue to operate under its current leadership and will retain its distinct property-level branding, office locations, investment vehicles and client focus.

DENTON, TX – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, in partnership with the Denton Housing Authority, announced the financial closing and groundbreaking of Arbor Ranch, a 297-unit affordable housing community in Denton, Texas. The development will provide deeply affordable homes to families earning between 30% and 70% of the Area Median Income (AMI), expanding access to attainable housing in the rapidly growing Denton submarket.
“This groundbreaking is a testament to the strong collaboration of our public and private sector partners who are all deeply committed to increasing available high-quality, affordable housing for the residents of Denton, said Nick Walsh, Vice President of Development at The NRP Group. We are building on our previous work in the community with the development of Arbor Ranch, our most modern, Class-A affordable product to date, placing residents close to employment centers, education and everyday amenities in one of the city s most strategic locations.
Located at 2820 Roselawn Drive just off Interstate 35, Arbor Ranch places residents within walking distance of Denia Park and its recreation center and the newly rebuilt Borman Elementary School. The development is also within short driving distance to downtown Denton, the University of North Texas and Texas Woman s University. The property is approximately 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas, connecting residents to the broader Dallas-Fort Worth employment base. Nearby, the Eagle Creek master-planned residential community is taking shape, adding to the area s growing residential infrastructure.
As Denton continues to experience rapid growth, ensuring that we have diverse and attainable housing options at a range of income levels is critical to sustaining our economic momentum, said Sherri McDade, CEO of the Denton Housing Authority. By expanding housing availability near key employment hubs, we re ensuring that Denton remains a competitive and thriving community for years to come.
Designed to accommodate both working professionals and growing families, the development will feature a mix of one- through four-bedroom residences across nine three-story buildings on a 22-acre site. Residents of Arbor Ranch will have access to a full suite of amenities, including an outdoor pool, playground, barbecue and picnic areas, children s activity room and community lounge. Onsite resident services, including after-school programming, will be provided to support families and promote long-term stability.
Truist Bank provided comprehensive financing for the project, including a $68 million construction loan, $48 million in permanent financing through its wholly owned subsidiary, Grandbridge Real Estate Capital, and a $33 million low-income housing tax credit equity investment. The permanent financing was secured through a forward rate lock under Freddie Mac s Tax-Exempt Loan program, providing long-term rate stability for the project.
Complex transactions like this require clear execution and tight coordination between our clients and our internal teams, said Kathy Farrell, Head of Truist Asset Finance. Securing financing certainty early was a critical step in positioning the development for long-term success. We re proud to help bring high-quality, affordable housing to this growing part of North Texas.”
The Dallas-Fort Worth metro area remains a priority market for The NRP Group. The firm has developed nearly 7,000 units across more than 30 properties in the region, and recently celebrated the grand opening of Thrive on Crawford, an affordable housing community that opened in January.
Construction of Arbor Ranch is now underway with first units anticipated in early 2027.

SEATTLE, WA – Fourth Avenue Capital (FAC) announced the acquisition of Spring Woods, a 174-unit Class A apartment community in Salem, Oregon, and Silver Star, a 72-unit Class A community in Kalispell, Montana. These acquisitions expand FAC’s portfolio to 30 properties.
Spring Woods – Salem, Oregon: Completed in May 2025, Spring Woods consists of 174 apartment homes across 10 residential buildings and a dedicated leasing office situated on 6.98 acres. The community offers a balanced mix of one-, two-, and three-bedroom floor plans ranging from 640 to 1,215 square feet, with an average unit size of 1,001 square feet. Each residence includes an in-unit washer and dryer and air conditioning.
Interior finishes reflect high-end Class A new construction standards in the local market, featuring quartz countertops, modern cabinetry, vinyl plank flooring, stainless steel appliances, and private patios or decks. Community amenities include a leasing office, dog run, and children’s playground, providing a well-rounded living environment for residents.
From 2023 to 2024, Salem ranked as the second-fastest-growing metro in Oregon for job growth, trailing only Bend. As the state capital, Salem benefits from a stable government employment base of more than 20,000 positions, providing insulation from economic volatility. This foundation is further supported by major private-sector employers in healthcare, led by Salem Health, as well as prominent educational institutions including Willamette University and Chemeketa Community College, which together enroll more than 10,000 students within five miles of Spring Woods.
Silver Star – Kalispell, Montana: Completed in 2024, Silver Star is a 72-unit apartment community comprised of 18 residential buildings situated on 5.72 acres. All units feature three-bedroom, two-bathroom layouts averaging 1,205 square feet, representing some of the largest floor plans in the Kalispell market. Each residence includes an in-unit washer and dryer, air conditioning, nine-foot ceilings, and vaulted living rooms in second-floor units.
Interior finishes are top-of-market for Kalispell and include quartz countertops, stainless steel appliances, hardwood cabinetry, large kitchen islands, private patios and decks, gas ranges, gas fireplaces, and vinyl plank flooring. The oversized layouts and high-quality finishes appeal to residents seeking more space and functionality than typically available in conventional apartment communities.
Kalispell serves as the primary city in Flathead County, one of the fastest-growing regions in the United States. From 2020 to 2023, population growth averaged 3.2% annually, far exceeding the national average, and is projected to remain more than four times above the national average growth rate in the coming years.
“Both of these acquisitions align with a core thesis we have of acquiring newly constructed assets below replacement cost in high-growth markets,” said Davis Vaughn, Managing Partner at Fourth Avenue Capital. “With limited future supply and larger-than-average floor plans, we believe these properties are well-positioned to achieve outsized rent growth over the long term.”

BROOMFIELD, CO – Fairfield, a nationwide developer and property manager, announced the grand opening of Rowlen Apartments, a newly constructed 297-apartment residential community located at 1151 Spring Place in Broomfield, Colorado.
Offering studio, one-, two-, and three-bedroom apartment homes, including 70 income-aligned residences, Rowlen includes an amenity-rich living experience in one of the most desirable and fastest-growing cities along Colorado s Front Range. Broomfield is currently ranked in the top spot on Livability.com s Top 25 Best Places to Live Out West.
Rowlen represents Fairfield s continued focus on developing thoughtfully designed communities in highly livable, growth-oriented markets like Broomfield, which is consistently recognized as one of the top places to live, said Jacob Lorson, Development Associate. Located near I-25, Highway 7, and E-470, this community offers strong regional connectivity along with an easy commute to both Denver International Airport and the Broomfield Regional Airport.
Designed with modern mountain architecture and a garden-style layout, Rowlen creates a sense of community through its robust design and amenity offerings, including a four-season pool, pet spa with built-in wash, outdoor gear storage, tinker space, direct-access garages, and Level 2 EV chargers. Inside the apartment homes, residents will find stainless steel kitchen appliances, quartz countertops, flexible layouts, and refined touches that reflect Fairfield s commitment to high-quality design.
Sustainability is integrated throughout the community, highlighted by an on-site solar power system atop the clubhouse and leasing building, Lorson added. Additionally, Fairfield is constructing and dedicating nearly six acres of publicly accessible park space that will include a pedestrian path, basketball court, and open areas that enhance long-term value for residents and the broader community.

TAMPA, FL – Ram Realty Advisors, a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast, announced the acquisition of Beacon 430, a 327-unit apartment community located in Downtown St. Petersburg, Florida (Tampa MSA). The property was acquired by an affiliate of Ram Realty Partners VII.
The acquisition reflects Ram s strategy of investing in well-located multifamily assets within infill urban markets where development constraints limit new supply. Developed in 2014, Beacon is a four-story, elevator-served residential community situated on a 4.3-acre site spanning two city blocks in the heart of Downtown St. Pete. The property provides a low-rise residential alternative with extensive outdoor amenities in a submarket where limited site availability and rising land costs increasingly favor high-rise development.
Downtown St. Pete has emerged as one of Florida s most vibrant urban submarkets, supported by strong population growth, a diversified employment base, and a highly walkable waterfront environment. The property is within walking distance of several of the area s largest employers, including Johns Hopkins All Children s Hospital, Orlando Health Bayfront Hospital, and the University of South Florida St. Petersburg campus, as well as the Central Avenue retail and entertainment district and the city s waterfront cultural attractions.
Ram plans to implement a targeted value-add program focused on operational enhancements, common area and amenity improvements, and select unit interior upgrades designed to further position the property within the market.
Beacon stood out to us because of its scale, location, and ability to offer a different residential experience than much of the new product in Downtown St. Pete, said Nate Wilson, Vice President of Multifamily Investments at Ram. We believe targeted operational improvements and selective upgrades will further strengthen the property s position within the market.
The Tampa Bay area has been a primary market for Ram for more than two decades, said Casey Cummings, Chief Executive Officer of Ram. We have been investing in this market since 2000 and continue to see strong long-term fundamentals in Downtown St. Pete. Beacon represents another opportunity to expand our footprint in a market we know well.

DALLAS, TX – After a highly competitive and complex process, Clover Capital Partners announced the successful acquisition of our newest assets: Creekstone and Gable Point Apartment Communities. Located in East Dallas adjacent to the Dallas Athletic Club, this well-positioned two-property portfolio represents a compelling value-add opportunity with 374 units across a mix of one- and two-bedroom floor plans.
Developed and owned by the Pardue family since the 1980s, the properties provide Clover with an attractive basis well below both current replacement cost and prevailing market pricing, creating a strong foundation for long-term value creation.
Creekstone and Gable Point benefit from their proximity to major employment centers, established retail corridors, and key recreational amenities throughout East Dallas. The properties offer residents convenient access to major thoroughfares, neighborhood retail, and outdoor amenities, while sitting within a submarket that continues to experience strong demand for attainable workforce housing.
The Dallas-Fort Worth metroplex remains one of the strongest growth markets in the country, supported by sustained job creation, population growth, and long-term housing demand. Within that backdrop, Clover believes Creekstone and Gable Point are well-positioned to benefit from operational improvements, strategic capital investment, and continued submarket growth.
We are incredibly grateful for the continued confidence and support of our investor partners, whose commitment makes opportunities like this possible. We would also like to extend a special thank you to Institutional Property Advisors (IPA) for their partnership and execution in bringing this transaction to the finish line.
We would also like to recognize our legal counsel, Platt Richmond, for their diligence and hard work throughout this transaction. Their guidance, responsiveness, and attention to detail were critical in navigating the legal complexities of the acquisition and helping ensure a smooth closing process.
“This acquisition represents another meaningful step forward for our firm. Clover looks forward to executing our business plan, enhancing the resident experience, and creating long-term value for our investors while maintaining a disciplined approach to risk,” says Co-Founder Bryan Harlan.

SAN DIEGO, CA – Eagle Partners, a vertically integrated multifamily investment manager and operator focused on attainable housing, announced the closing of a $162.5-million affordable housing preservation portfolio acquisition of The Hendrix Apartments and The Hadley Apartments (“the Portfolio”) located in Escondido, California.
The Portfolio consists of two adjacent communities totaling 551-units of one- and two- bedroom residences serving the senior demographic (55+) in North San Diego County. Through this acquisition, Eagle will implement a long-term affordable preservation strategy while executing a targeted capital improvement program designed to enhance the resident experience.
Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority (CSCDA), and Affordable Housing Access to execute on the transaction.
“This transaction represents a meaningful milestone in the continued scaling of our attainable housing platform and speaks to our ability to source institutional quality opportunities on an off-market basis” said Taylor Friend, Managing Partner of Eagle Partners. “We are proud to expand our presence in San Diego County and to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship.”
In November 2025, Eagle, Red Stone Equity Partners, and JPMorgan Chase acquired the 350-unit Hills at Hacienda Heights in Los Angeles County for $107 million. The Escondido acquisition represents Eagle’s second preservation transaction and further establishes the firm’s footprint in Southern California.

PAPILLION, NE – Cavan Companies has closed on land for The Bungalows at Prairie Hills, a planned 154-home single-story Build-to-Rent (BTR) community in Papillion, Nebraska. The project represents the company’s third development in the Omaha metropolitan area, expanding Cavan’s Midwest platform in a market where demand for single-family rental housing continues to outpace supply.
Horizontal construction is expected to begin in May 2026 on approximately 16 acres at the southwest corner of Highway 370 and South 114th Street, a corridor providing direct access to Interstate 80, Offutt Air Force Base, and major employment centers throughout the Omaha metro. The site is also located near Shadow Lake Towne Center, placing the community within an established residential and commercial node.
When complete, The Bungalows at Prairie Hills will feature 154 detached rental homes with one-, two-, and three-bedroom floorplans ranging from approximately 683 to 1,389 square feet. The community will include 104 detached garages, a clubhouse, fitness center, and shared amenities designed to provide residents with the space and privacy of a detached home while maintaining the flexibility of rental living.
The Prairie Hills development follows two Cavan communities in Omaha that are now entering lease-up. Phase 1 homes at The Bungalows at Whitehawk Lake in West Omaha will begin leasing and move-ins on April 1, 2026, followed by Phase 1 homes at The Bungalows on Honeysuckle in Elkhorn on April 15, 2026.
Together, the three communities represent one of the largest single-developer Build-to-Rent platforms currently underway in the Omaha metropolitan area.
“We’re seeing strong demand for housing that sits between traditional apartments and homeownership,” said Norm Miller, Chief Executive Officer of Cavan Companies. “Markets like Omaha are ideal for single-story Build-to-Rent communities because residents want the space and privacy of a home without the barriers of ownership.”
The Omaha metropolitan area has surpassed one million residents, supported by employment anchors including Berkshire Hathaway, Union Pacific, Mutual of Omaha, CHI Health, Nebraska Medicine, and Offutt Air Force Base. Sarpy County has emerged as one of the region’s fastest-growing areas, driven by infrastructure investment, strong schools, and continued suburban household formation.
As housing costs rise nationally, more households are seeking options that provide the space and privacy of a home without the financial commitment of ownership.
“Build-to-Rent communities help address that gap,” Miller said. “They offer the lifestyle of a detached home while maintaining the flexibility of renting.”
Cavan Companies have more than 50 years of real estate development experience and has focused on the Build-to-Rent sector since 2016 through The Bungalows delivering single-story rental communities designed around private yards, neighborhood-style layouts, and modern amenities.

DENVER, CO – Century Communities (NYSE: CCS), a top national homebuilder, industry leader in online home sales, and featured on America’s Most Trustworthy Companies and World’s Most Trustworthy Companies by Newsweek, announced that Century Living, the Company’s multi-family arm, acquired a shovel-ready development site at 33rd Avenue and Mariposa Street in Denver’s sought-after LoHi neighborhood from development firm Elevation Development Group.
Going forward, Century Living will serve as the developer and general contractor on the project—named The Stevie—with groundbreaking this week and units expected to deliver for leasing in 2028.
Elevation began the permitting process for the luxury apartment community in 2021, which enabled the deal with Century Living to come complete with land, architectural and engineering plans, and all entitlements and permits.
“This is a unique opportunity to deliver brand-new, high-quality housing to one of Denver’s most valued neighborhoods,” said Jim Francescon, an executive at Century Communities. “With premium amenities and luxury units, The Stevie will provide an elevated quality of living with immediate access to everything LoHi and surrounding neighborhoods have to offer.”
Additional Project Details: Five-story building; 116-unit, luxury boutique apartment community (including select loft units); Amenities will include a pool, sun deck, fitness center, and resident lounges; First-level garage plus underground parking; Walking distance to notable restaurants, shops, and parks; and Quick access to I-25 and Union Station.
Century Communities is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S.