CONSHOHOCKEN, PA – Morgan Properties announced the landmark acquisition of Dream Residential Real Estate Investment Trust (REIT) for $354 million. This cross-border transaction resulted in a successful acquisition and privatization of a publicly-traded Canadian REIT, while adding 15 communities totaling 3,300 units across key MSAs in Texas, Ohio, Kentucky, and Oklahoma.
Under the leadership of Co-Presidents, Jonathan and Jason Morgan, Morgan Properties is one of few organizations equipped to take a public company private.
In pursuing the Dream transaction, Morgan Properties leveraged off of our strong balance sheet and our expertise in executing complex, structured transactions to accommodate the specific needs and timeframe of Dream Residential REIT’s Unitholders and Board of Trustees, said Jonathan and Jason Morgan, Co-Presidents of Morgan Properties. Morgan Properties has a proven track record in closing these complicated transactions given our unique ability to provide sellers with execution certainty. Our contrarian investment strategy targets large one-off and institutionally sized portfolios without institutional competition. While our regional competition is capital constrained and institutional investors are chasing flight to quality investment opportunities, we intend to capitalize on institutionally sized workforce housing investment opportunities with significant barriers to entry. In 2025, Morgan Properties has acquired $1.5 billion comprised of over 14,000 units.
The Dream acquisition comes on the heels of a stellar acquisitions year in 2025, which saw the company surpass 110,000 units during its 40th anniversary.
We are excited to build off our momentum and continue to strategically grow our portfolio. As we do with every acquisition, we look forward to leveraging off our operational expertise and economies of scale to improve these communities and create long-term value for both our residents and investors.
The company will reinvest $58 million in interior, exterior enhancements and amenity upgrades over the fifteen communities, which range in vintage from 1968 to 2002. Morgan Properties has acquired over 80 properties and hired 250 site-team members this year and the company is planning to invest $200 million in capital improvements on its recent acquisitions.

WASHINGTON, DC – Broad Creek Capital ( BCC ), a private-markets investment firm focused on U.S. real assets, announced the first close of BCC Multifamily Advantage Fund I ( BCC MAF I ), its dedicated U.S. value-add multifamily vehicle. The fund is anchored by a select group of U.S. municipal institutions and family offices across the United States and Europe.
The close of BCC MAF I represents a significant step in Broad Creek s continued growth as a transatlantic private-markets platform. Building on years of partnership with select family offices in the U.S. and Europe, the firm is now opening its proven investment strategy to a broader base of institutional and family office investors. The fund is targeting $150 million in total capital commitments, with a second close planned for early 2026.
This first close is a strong endorsement of our platform and investment thesis, said Matthew Ruesch, Co-Founder and Managing Partner of Broad Creek Capital. We see one of the most compelling entry points for multifamily in over a decade, where disciplined capital and hands-on execution can generate durable, long-term returns.
In conjunction with the first close, BCC MAF I completed the off-market acquisition of Loft One35, a 298-unit multifamily community in Charlotte, North Carolina, for $94 million. The acquisition aligns with the fund s focus on high-growth markets and value creation through operational improvements, targeted renovations, and resident-experience upgrades.
Loft One35 demonstrates the type of opportunity we seek – well-located assets where disciplined underwriting and hands-on execution can drive durable value,” said Michael Green, Co-Founder and Managing Partner of Broad Creek Capital.
BCC MAF I will invest in essential-housing communities with a focus on the Southeast and broader Sun Belt, where demographic and economic trends continue to drive rental-housing demand. The fund applies a private-equity approach to real estate, focusing on operational excellence, targeted modernization, and disciplined capital structure management to generate attractive, risk-adjusted returns.

LONG BEACH, CA – Linc Housing, a Long Beach-based nonprofit developer of affordable and supportive housing, joined Zephyr residents, officials from Los Angeles County and the City of Long Beach, as well as other development partners to celebrate the completed renovations of two California Project Homekey sites – Zephyr and Crescent.
“I think the public appreciates that we are using existing buildings to create housing faster, smarter, more cost-effectively than ever before,” said Los Angeles County Supervisor Janice Hahn. “The State’s Project Homekey program has been a game changer for us. By partnering with Linc Housing and using state funding to convert these two buildings, we have 177 new apartments for the people who most need them in Long Beach. We need to address the homelessness crisis with the urgency it demands, and I appreciate the City of Long Beach and Mayor Rex Richardson for being my partner in this work and being willing to embrace solutions.”
According to the 2025 point-in-time count, 3,595 people in the City of Long Beach were experiencing homelessness, representing a 6.5% increase from the previous year. As the region continues to confront an urgent housing shortage and rising homelessness, these new communities mark critical progress in expanding access to permanent, service-enriched homes that help people rebuild their lives.
“Zephyr and Crescent have transformed former motels into welcoming, supportive homes for people on the path from homelessness to stability and independence,” said Long Beach Mayor Rex Richardson. “We are committed to expanding supportive housing options across Long Beach because everyone deserves a safe and dignified home with a real chance to build a more stable future.”
Zephyr, located at 1133 Atlantic Avenue, includes 135 studio apartments and two manager’s units, and Crescent, located at 5665 E. 7thStreet, has 39 studios and one manager’s unit. Both communities include a community room, outdoor spaces, and private offices for case management. In all, Linc has four Project Homekey communities with nearly 400 apartments, most with wraparound supportive services.
Lashawn, a new resident at Zephyr, has always been hardworking and independent, juggling multiple jobs to make ends meet. But after her apartment flooded, the water damage and mold made it unlivable and left her seriously ill, with severe rashes, swelling and difficulty breathing. When her landlord failed to fix the problems, she was forced to leave and spent more than a year without stable housing, staying with friends or sleeping outside. After connecting with the Long Beach Multi-Service Center, she moved into temporary housing until she was approved for a home at Zephyr. “When I saw the Welcome Home sign in my apartment, I couldn’t believe it was real,” she said. “Now it’s peaceful, my health has improved, and I finally feel safe again.”
Zephyr and Crescent join Atlas in Los Angeles, which opened earlier this year, and Azure in Anaheim, scheduled to open in early 2026 – all named after butterflies, which are symbols of transformation, rebirth and embracing change. Project Homekey is the State of California’s groundbreaking initiative to transform underused properties into long-term affordable and supportive housing. Before the renovations, Zephyr was a Holiday Inn and Crescent was a Motel 6 – and both were used during the COVID pandemic as temporary housing prior to the County selecting Linc to convert the units to permanent housing.
“At Linc Housing, our mission is to create communities where every person has the stability and opportunity to thrive,” said Suny Lay Chang, president and COO, Linc Housing. “Together, Zephyr and Crescent demonstrate how Long Beach and Los Angeles County are leveraging Project Homekey to tackle the region’s housing shortage head-on, creating pathways to healing, belonging and hope.”
The majority of financing for the initial acquisitions came from Project Homekey funds from the California Department of Housing and Community Development, administered by Los Angeles County. Other sources of funding come from the American Rescue Plan Act, permanent loan commitments from Freddie Mac through Capital One, and construction loans from Genesis LA (Crescent) and Sterling Bank (Zephyr). The Long Beach Housing Authority provides project-based Section 8 rental vouchers for both properties.
With funding support from Los Angeles County Department of Health Services/Housing for Health, residents receive wraparound services and case management to ensure they thrive. Supportive services include mental and physical health services, employment counseling and job placement, education, substance use counseling, money management, assistance in obtaining and maintaining benefits, and referrals to community-based services and resources.
Renovations on Zephyr and Crescent began in March 2024 with designs by Sparano + Mooney Architecture, Inc. and construction by Imperial Contracting. Zephyr is nearly fully occupied, and Crescent will begin to welcome residents this month. All homes are for households at or below 30% of area median income.

BUCHANAN, NY – AMS Acquisitions announced that Sylvan Woods Westchester, the latest luxury addition to Westchester County’s Active Adult 55+ rental market, is now pre-leasing.
“The arrival of Sylvan Woods to Upper Westchester County marks an exciting milestone for our brand,” said Ari Mitnick, Director of Acquisitions. “Designed for those 55 and over, the community offers a simplified lifestyle with the comfort, connection, and vibrancy of a resort-style environment centered on wellness.”
Sylvan Woods Westchester is nestled within a serene, wooded landscape featuring natural rock formations, tranquil ponds, and lush greenery. The community’s amenities are thoughtfully designed to foster connection, offering spaces where residents can gather, host events, and collaborate with onsite staff to create an engaging social environment.
The community has more than 10,000 sq. ft. of amenity space with a 19,000 sq. ft. courtyard. Residents will have access to a movie room, art studio, game room, private dining areas and a great room as well as a health wellness area with steam and spa rooms and a gym. Outdoor amenities include a pool, BBQ stations, a fire pit and a gardening area. In addition, residents can participate in activities such as fitness classes, book clubs, social hours, paint & sip sessions, poker tournaments, and technology exploration workshops, enriching lifestyle and fostering community engagement.
As one of the first new residential communities to emerge in Upper Westchester in decades, Sylvan Woods Westchester brings fresh energy and opportunity to the area. Addressing a long-standing shortage of housing for residents seeking to downsize, the development serves as both a symbol and a catalyst for the continued renewal of the Village of Buchanan and the surrounding Town of Cortlandt.
Ideally located near the Buchanan train station, Sylvan Woods Westchester connects residents effortlessly to the greater Westchester region and New York City, offering the perfect balance between serene retreat and metropolitan access.

INDIANAPOLIS, IN – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Revere, a Class A multifamily community in the Indianapolis suburb of Westfield. The company expects to welcome its first residents in February 2027.
“Westfield continues to stand out as one of the fastest growing and most desirable communities in the country,” said Josh Purvis, managing partner for Thompson Thrift Residential. “With its strong demographics, high quality of life, and recognition as one of the best places to live, Westfield is an attractive place for new residents to call home, and we are excited to deliver a thoughtfully designed community that complements the city’s momentum.”
Located at the intersection of US 31 and E 191st Street, the 23-acre community will feature 350 apartment homes in one-, two-, and three-bedroom configurations averaging 1,000 square feet. The residences will be spread across six buildings, including four 3-story garden-style buildings and two 4-story elevator-serviced buildings.
Each apartment home will offer the luxury amenities Thompson Thrift is known for, including elegant quartz countertops, stainless-steel appliances, glass-top ranges, hardwood-style flooring, quartz vanity tops and undermount sinks, full-size washers and dryers, multiple smart home capabilities and many other designer fixtures and finishes. Select units will offer Thompson Thrift’s upgraded finish package, including premium stainless-steel appliances, kitchen hardware, deluxe closet shelving, walk-in shower with full tile surround, and more. Patio, balcony, and detached garage options are also available.
Luxury living will continue throughout Revere with many high-end features, including a fitness center and social hub with 24-hour access, a resort-style heated swimming pool, electric firepits with seating areas, a dog park and pet spa with grooming station, community grilling areas, a business center with focus rooms and resident conference room with screenshare technology, and more.
Adjacent to the site is IMMI, an industry leader in the innovation, design, testing and manufacturing of advanced safety systems which employs nearly 700 people at its Westfield office. Planned future retail will also sit next to the community, giving residents walkable access to a variety of options. Additionally, Meijer, Kroger, Chick-Fil-A, Portillo’s, Starbucks, and a brand-new Giant Eagle Market are all within a few minutes of Revere.
Less than two miles away is the Grand Park Sports Campus, a 400-acre sports park that is home to the Indianapolis Colts training camp and the Pacers Athletics Center and welcomes over 5.5 million visitors annually. The community also offers excellent connectivity to US 31, providing easy access to downtown Westfield, downtown Carmel and downtown Indianapolis.
Westfield was ranked in the top 5 for best places to live, the best place to raise a family and the best suburb for young professionals in Indiana by Niche.com. Hamilton County has been ranked as having the 4th best public schools in the United States, and Westfield High School ranked in the top 3% in the nation.

OKLAHOMA CITY, OK – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on The Reserve at Chisholm Creek, a 267-unit affordable housing community for individuals and families in Oklahoma City, marking LAC’s first ground-up construction project in the state of Oklahoma.
“LAC is proud to bring high-quality housing to Oklahoma City, which will create long-term access to affordable housing in one of the city’s most dynamic and growing areas,” said David Garcia, LAC Vice President and Project Partner. “The Reserve at Chisholm Creek represents our continued commitment to building sustainable, inclusive communities, and we’re grateful to our public and private partners who helped make this project possible.”
The Reserve at Chisholm Creek will feature a mix of one-, two-, three-, and four-bedroom apartments with communal amenities including a swimming pool, playground, dog park, fitness center, and clubroom for resident gatherings. Units will feature stainless steel appliances, in-unit washers and dryers, and ample storage including coat and linen closets. Additionally, the building includes a rooftop solar panel installation to offset common area electricity use, reinforcing LAC’s commitment to sustainability.
The Reserve at Chisholm Creek will lease its units to individuals and families earning up to 60% of the Area Median Income (AMI). The development was financed with a 4% non-competitive Low-Income Housing Tax Credits (LIHTC), along with tax-exempt bonds and Oklahoma state low-income housing tax credits issued by Oklahoma Housing Finance Agency (OHFA). Chase Bank provided construction financing, Barings provided the permanent loan, and US Bank purchased the federal and state LIHTCs. Rosemann & Associates is the architect and CMS Willowbrook is the general contractor. The development will comply with Section 42 of the Internal Revenue Code and the Oklahoma Qualified Allocation Plan (QAP).

LONG BEACH, CA – JPI, a leader in Class A multifamily development, in partnership with Tokyo Tatemono US Ltd. and BMO Bank, has closed on construction financing for Portico, a $150 million, mixed-use development in Long Beach, Calif. Located at 450 The Promenade North, Portico marks the first phase of the highly anticipated Mosaic redevelopment project, formerly known as City Place Long Beach.
Slated for delivery in 2028, Portico will feature 272 multifamily units, including studio, one-bedroom, two-bedroom, and three-bedroom apartments – 16 of which will be designated as affordable housing units. The development will also include 18,841 square feet of ground-floor retail, offering direct access to the pedestrian promenade and enhancing the area s walkability and vibrancy
This project represents a key step forward in reimagining Downtown Long Beach, said Mollie Fadule, Chief Financial and Investment Officer at JPI. With the support of Tokyo Tatemono US Ltd. and BMO Bank, we are not just building homes, we are creating a destination that blends housing, retail, and culture into a thriving urban experience.
Residents will enjoy a suite of elevated amenities, including a speakeasy, rooftop deck, sports simulator, sauna, and pool deck overlooking the Mosaic shopping center. Public art murals will adorn the building s brick façade.
The broader 14-acre Mosaic redevelopment, led by Turnbridge Equities, Waterford Property Company, and Monument Square Investment Group, will ultimately deliver 900 multifamily residences and 38,000 square feet of commercial space, transforming the heart of Long Beach into a dynamic live-work-play environment.

DALLAS, TX – Clover Capital Partners announced the successful acquisition of The Woodlands of Plano. Located in Northeast Plano, this well-positioned community represents a fully stabilized value-add opportunity with 232 units across a mix of one, two, and three-bedroom floor plans.
The property includes assumable fixed-rate debt at 3.02% with a full 10 years remaining, providing exceptional long-term interest rate security, positive arbitrage and downside protection.
Plano offers proximity to major employers like Toyota, Frito-Lay, and Texas Instruments, making it a prime location for residents. The property is close to attractions such as Downtown Plano, Legacy West, The Shops at Willow Bend, and Oak Point Park, providing a mix of urban convenience and outdoor recreation.
A primary driver for the area and its residents is its location within the highly desirable Plano ISD, which is consistently ranked among the top districts in DFW. The metroplex remains the nation’s fastest-growing market for jobs and population growth, and is expected to gain 180,000+ new residents in 2025 alone.
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 CBRE 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 marks an exciting step forward for our firm. Clover looks forward to executing our business plan, creating more long-term value for our residents and investors, while maximizing returns and minimizing risk,” says Co-Founder Bryan Harlan.

COLUMBUS, OH – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the grand opening of The Lofton, a 245-unit family-focused housing community in Columbus s South High neighborhood. Developed in partnership with the City of Columbus and faith-based nonprofit Community Development for All People, the project features thoughtfully designed homes serving households earning between 30% and 80% of the Area Median Income (AMI).
The Lofton represents a meaningful step forward for Columbus as the city grows in population and job opportunities, said Aaron Pechota, Executive Vice President of Development at The NRP Group. We and our partners designed these homes for the families that power the city, with spaces that foster connection, growth and stability. Together, we ve created a development that will anchor the South High corridor and support its continued growth for generations.
Located just off of South High Street at 55 Fornof Road, The Lofton is designed for families, and more than half of all residences are a mix of three- to four-bedroom homes. A 3,500 square-foot commercial space on the first floor is reserved for a daycare operator to support the needs of residents and the surrounding community.
Transformative projects like The Lofton help unlock the full potential of our city, said Columbus Mayor Andrew Ginther. Through a combination of public and private investment, we are bringing new housing, new energy and new opportunities to the South High neighborhood, setting the stage for more people to live, work and thrive in Columbus.
The Lofton offers easy access to downtown Columbus, the Short North Arts District, the Arena District and Nationwide Children s Hospital, as well as public transit along the South High corridor. Retail, dining and entertainment options are within walking distance, while major employment hubs and educational institutions, including Columbus State Community College, are minutes away.
The new community was designed by MA Design, a women-owned Columbus firm with a 45-year history specializing in family-oriented and affordable housing. Apartments feature fully equipped kitchens, modern cabinetry, luxury vinyl plank flooring, and walk-in closets. Residents will have access to onsite parking, elevators, package concierge services and laundry facilities.
The Lofton offers residents a robust suite of amenities that encourage connection, wellness and convenience. Indoor amenities include a fitness center, community room and spaces for gatherings and recreation. Outdoor areas feature walkable paths throughout the property, a playground and landscaped open spaces designed for interaction and daily activity.
Development and financing partners include KeyBank, which provided construction and permanent financing, Hudson Housing Capital and support from the City of Columbus and Franklin County through local bond and rental housing programs.
The Lofton is a strong example of how thoughtful partnerships can produce housing that s both financially sound and socially impactful, said Marisa Rodriguez, Vice President at Hudson Housing Capital. We re honored to have played a role in bringing this vital resource to the South High community.
Co-developer Community Development for All People helped guide the project s focus on larger homes and community-oriented spaces, building on prior collaborations with The NRP Group in Columbus, including Parsons Village Senior Apartments and the Residences at Career Gateway.
The Lofton is the most recent demonstration of our commitment to providing high-quality, affordable housing, said Mike Premo, Executive Director at Community Development for All People. With this project marking our fifth partnership with The NRP Group, we re proud to play a pivotal role in fostering vibrant communities where residents have access to safe, comfortable, and affordable homes that will enable them to not just live, but thrive.
The Columbus metro area remains a priority market for The NRP Group. The firm has developed nearly 2,000 units across more than 10 properties in the city, and has developed more than 5,000 rental homes across the state of Ohio since 1994.

ORLANDO, FL – CIM Group, together with a joint venture partner, announced the acquisition of Overture Hamlin, a 180-unit, 55+ active adult multifamily community in Orlando, FL. Located at 5795 Citrus Village Blvd. in the Winter Garden submarket west of Downtown Orlando, Overture Hamlin is a 157,612-square-foot active adult community designed for residents aged 55 years and older.
Built in 2021, the property offers stylish one- and two-bedroom residences with modern finishes and an extensive array of resort-inspired amenities, including a resort-style pool, fire pits, outdoor grills, fitness center, yoga studio, bocce ball court, resident lounge, gaming area, theater, arts and crafts room, demonstration kitchen and business center. Residents can enjoy a diverse range of fitness classes, continuing education programs and social events that foster engagement, well-being and community connection.
Overture Hamlin is situated in a prime location with convenient access to lifestyle amenities, employment centers and public recreation. The property is within walking distance of Hamlin Town Center, a nearly two-million-square-foot lakefront mixed-use destination featuring retail, dining, entertainment and medical services in the heart of Horizon West, one of the fastest growing master-planned communities nationally according to the Orlando Economic Partnership.
This acquisition underscores CIM Group s commitment to the active adult and senior living sector, a growing area of focus as the firm responds to strong demographic trends driving demand for housing and lifestyle options tailored to the 55+ population.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.