JACKSONVILLE, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, recently hosted a ribbon cutting for Terrassa, a 324-unit Class A multifamily community that is part of the redevelopment of the former St. Augustine Outlets property located off I-95 in the growing market of St. Augustine. The first Terrassa residents began moving in in September 2025.
“We’re excited to celebrate the official opening of Terrassa and welcome residents to a thoughtfully designed community in one of Florida’s most sought-after coastal markets,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Terrassa complement’s the charm and character that define St. Augustine while delivering a modern, elevated living experience for residents.”
Terrassa’s one-, two- and three-bedroom garden-style apartment homes offer up to nearly 1,400 square feet of living space and feature premium, in-demand amenities and finishes including granite countertops, stainless steel and energy-efficient appliances, a full-size washer and dryer, hardwood-style flooring, tile backsplashes, designer fixtures and finishes, large walk-in closets, detached garages, and private yard and patio options. High-speed internet access ensures seamless connectivity for residents while energy-efficient LED lighting and Alexa-compatible smart light switches, locks and thermostat help residents save on energy costs.
Community amenities include a 24-hour fully equipped fitness center, a heated resort-style swimming pool, Mediterranean-inspired courtyards, community grilling areas, a pickleball court, an on-site dog park with agility equipment, and a pet spa with a grooming station. The 24-hour social hub features billiards, a coffee bar, private focus rooms and a work area with a printing station.
Located near Vilano Beach and just minutes from downtown, Terrassa provides the perfect balance of retreat and convenience, providing residents with convenient access to a variety of local entertainment, shopping and dining options, including Ford’s Garage Restaurant and the St. Augustine Premium Outlets.
At the ribbon-cutting, visitors toured the model home and explored the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local nonprofit S.A.F.E. Pet Rescue to support their efforts to rescue animals facing euthanasia. Additionally, Thompson Thrift waived the one-time pet adoption fee for any Terrassa resident who adopted a pet at the event from S.A.F.E.’s mobile adoption van.
“Supporting S.A.F.E. Pet Rescue and celebrating pet adoptions at Terrassa reflects our commitment to creating a welcoming community where both people and pets feel at home,” added Atkins.

HOUSTON, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of Gables Post Oak in Houston, TX. The successful close represents the 17th investment in Knightvest’s Fund II.
The 316-unit mid-rise community is located in the desirable Post Oak submarket of Houston, situated between the prestigious River Oaks neighborhood and the Uptown Business district. Knightvest will implement a comprehensive renovation program with planned improvements to the leasing center, fitness center, and resident lounges. Knightvest will also fully renovate the majority of the unit interiors. As part of the renovation efforts, Knightvest has renamed the community to Hollings Post Oak.
“Hollings Post Oak is a rare find and a high-quality community in one of Houston’s most sought-after submarkets, acquired at a meaningful discount to replacement cost,” said David Moore, Knightvest founder and CEO. “This is exactly the type of opportunity Fund II was designed to pursue: a well-located asset with a clear path to value creation. Our team has the expertise to fully transform this community and deliver a living experience that is a compelling, affordable alternative to newer construction in the area.”
Houston has been a core region for Knightvest as part of the company’s deep-market strategy, focusing on developing deep expertise and scale in fewer, more concentrated markets. As the fourth-largest MSA in the United States, Houston has consistently ranked among the top five markets in the country for employment growth, with two of the nation’s ten highest-growth counties located within the MSA. The market has proven resilient in the face of elevated supply following a post-pandemic development surge, and Knightvest remains confident in its long-term fundamentals.

PHOENIX, AZ – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, announced the financial closing and groundbreaking of an upscale, 353-unit multifamily development within Medina Station, a 60‑acre master planned community in Mesa, Arizona.
The four‑story, elevator‑served community will be built on a 10‑acre parcel in the northeast quadrant of the master plan, bringing thoughtfully designed apartment homes to families, working professionals and students in one of the fastest‑growing corridors in the Southeast Valley of the Phoenix metropolitan area.
Project financing was provided by Origin Investments as the equity partner, with debt capital from lender U.S. Bank. This represents the first investment for Origin s Select Asset Fund and the third time The NRP Group and Origin Investments have partnered together in a new ground-up development. Origin Investments is also an equity partner in NRP Group s 353-unit Haynes Lofts community in San Antonio and a 340-unit Class-A development in East Austin.
We identified this pocket of Mesa as a unique and compelling opportunity due to its strong demographics, beautiful surroundings and exceptional commercial offerings, said Austin Kates, Vice President of Development at The NRP Group. This community will provide high‑quality homes in a walkable environment surrounded by established retail, dining and employment hubs. What sets this site apart is its suburban location paired with direct proximity to top retail offerings, enabling residents to access everyday conveniences without needing to get in their car. We re thrilled to bring a thoughtfully designed community to Medina Station and contribute to the continued growth of the Southeast Valley.
Located at 10941 E Southern Ave., the development is within walking distance of major commercial retailers in Medina Station and the surrounding area, including Target, Sprouts Farmers Market, EōS Fitness, a variety of sit-down and fast-casual dining options, and personal service providers. The site offers convenient access to US-60 and Loop 202, providing direct connectivity to key regional employment centers such as the Elliot Road Technology Corridor, Mesa Gateway Airport, and surrounding hospital networks. Approximately 15 minutes southeast of the property is LG Energy Solutions $5.5 billion battery manufacturing campus, which is currently under development and expected to generate thousands of new jobs in the area. In addition, the community is well positioned near educational institutions, including ASU s Polytechnic Campus and A.T. Still University.
Medina Station is well positioned to be a premier development in Mesa, said Jacob Sojka, Vice President of Acquisitions at Origin Investments. The project benefits from a strong location within a mixed-use community that includes planned retail, creating instant appeal. In addition, NRP s reputation as a tier-one developer adds meaningful experience, credibility, and scale.
The new community will include a mix of studios and one-, two- and three-bedroom residences totaling more than 340,000 square feet of rentable space. In addition to the main four-story building, six two-story carriage-style buildings will be located around the perimeter of the property, offering direct-access units as well as rentable garage space for residents.
The architectural design takes inspiration from the master plan s desert modern aesthetic and natural surroundings. Residences will include washer and dryer units, private balconies, stainless steel appliances, quartz countertops, walk-in closets and private yards in select units, as well as unobstructed views of the Superstition Mountains.
Residents will have access to a robust amenities package designed around wellness, convenience and connection, featuring a resident clubhouse lounge with coffee stations, a business center with coworking spaces, a fully equipped fitness center and an outdoor pool area complete with a spa jacuzzi, cabanas and grill stations. Residents will also enjoy a dedicated dog park, landscaped courtyards with fire pits, comfortable seating areas and a golf putting green. Additional conveniences include surface parking, carports, garages, rental storage units and pedestrian access gates that provide direct walkability to the commercial offerings within the Medina Station master plan.
The Phoenix metro area remains a priority market for The NRP Group, underscoring the firm s strategic commitment to one of the fastest-growing counties in the U.S. In December, the firm broke ground on Desert Sky, a 288-unit affordable housing community in West Phoenix. This expansion reflects strong confidence in the region s long-term rental housing market, driven by robust job growth and sustained year-over-year in-migration patterns. The NRP Group has developed more than 67,000 apartment homes in 17 states since 1994 and currently manages over 30,000 residential units across the U.S.
Construction of the new 353-unit community will begin later this month, with completion expected in 2028.

IRVINE, CA – MBK Rental Living, a preeminent lifestyle developer of apartment communities, announced that it has successfully executed the sale of its Esperanza at Duarte Station, a 344-unit new transit-oriented Class A apartment community in Duarte, California, to an undisclosed buyer. Developed as a joint venture of MBK Rental Living and Haseko Corporation, Esperanza reflects the persistent demand for high‑quality, amenity‑rich communities that align with what today’s residents value most in their living experience.
“At MBK Rental Living, we believe great communities are built around people, not just buildings. Esperanza at Duarte Station brings that belief to life through intentional design, dynamic rooftop amenities, inviting courtyards, and immersive, year-round resident programming. The result is more than a place to live—it’s a lifestyle that fosters connection, energy, and a true sense of belonging,” said Ken McCarren, President of MBK Rental Living. “The community’s proximity to the Metro station and the world‑renowned City of Hope makes it especially attractive for those seeking connection, opportunity, and ease. We are seeing this same strong demand at Solana at Duarte Station, reinforcing the long-term appeal of this exceptional market.”
Opened in November 2022, Esperanza at Duarte Station is a five-story community with a total of 344 studio, one-, two-, and three-bedroom apartments ranging from 514 to 1,090 square feet with 56 different floorplans. It is located on a 4.3-acre property at the intersection of Highland Avenue and Fasana Road.
Esperanza is highlighted with rooftop amenities offering dramatic views of the San Gabriel mountains, including a resort-style pool and spa; an indoor/outdoor Casita with a living room lounge, fireplace, open dining room, and entertainers-style kitchen; a landscaped roof deck with poolside cabanas, outdoor TVs with entertainers’ bar, grilling stations, fire pit and lounge area; and a rooftop gym with free weights, cardio and HIIT zones, and outdoor yoga. The community’s first-level amenities include a co-working area with open seating, a cantina with lounge and counter seating with direct access to Food Truck Alley, and the popular “Casa de Perro” with an interior pet wash and dry station as well as an exterior dog park with seating.
Esperanza is within walking distance of the Duarte/City of Hope Metro Gold Line commuter train station, and the world-renowned City of Hope, a 120-acre comprehensive cancer treatment center and major area employer. The train and freeway access eases transit to nearby Los Angeles, Pasadena and other Southern California business and entertainment destinations.

TEMPE, AZ – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced that move-ins are underway at Modera Rio Salado, a contemporary mixed-use community in the Tempe Town Lake neighborhood.
The podium-style community, which features 319 homes and 3,500 square feet of retail space, is positioned directly across from 225-acre Tempe Town Lake, the Tempe Center for the Arts and the Tempe IDEA Biotech campus. Positioned just south of Loop 202 on the north end of Tempe, the location provides prime connectivity to Arizona State University, 25 acres of Tempe Beach Park, 12 million square feet of office space, high-end retail and a variety of dining options.
“We’re excited to welcome our first residents to Modera Rio Salado, a premier community bringing new multifamily living to this dynamic corridor,” said Tyler Wilson, senior managing director of development in the Southwest region for Mill Creek. “Like the area itself, the community is bike-friendly and will enable residents to easily connect to local attractions and everything within the east Phoenix area. We’re eager to provide a standout residential option and offer a resort-style living experience.”
Situated at 835 W. Rio Salado Parkway, Modera Rio Salado features three amenity decks and more than 14,000 square feet of interior amenity space. The community has a superb Bike Score of 95, considered a “biker’s paradise,” and is within walking distance of Tempe Beach Park. Numerous additional recreational outlets are within a quick commute of the community, including The Yard at Farmer Arts District. Additionally, the Loop 202 corridor will provide residents with easy access to the city’s vast array of additional entertainment and employment centers.
Modera Rio Salado offers one-, two- and three-bedroom homes with select den and townhome layouts. Community amenities include an outdoor swimming pool, outdoor kitchen/bar and grill areas, landscaped courtyards, coworking spaces with private workstations, clubroom with gaming tables, media and lounge room, state-of-the-art fitness center, yoga/Pilates studio and a hotel-inspired lobby with double-height ceilings, seating areas and fireplace lounge. The community also features an outdoor pet park, complimentary high-speed WiFi in common areas, bike repair station, dedicated bike storage area, additional storage, digital package lockers and controlled-access parking garage with EV-charging stations.
Homes include oversized windows with roller shades, stainless steel appliances, quartz countertops, tile backsplashes, wood-style plank flooring, custom soft-close cabinetry, pull-down faucets, in-home washers and dryers, spacious bedrooms with large closets and a variety of smart home features, including smart thermostats, keyless entry and controlled-access guest technology. Select homes offer 10-foot ceilings, kitchen islands, breakfast bars and private patios or balconies. Designer bathrooms include double vanities, tile flooring, linen closets and tile tub/shower surrounds.

VERO BEACH, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for Verity, a 276-unit Class A multifamily community in Vero Beach. Resident move-ins began in July 2025, while construction was completed in January 2026.
“Celebrating the opening of Verity is a proud moment for our entire team,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Verity is a thoughtfully designed community where beautiful homes, well-planned amenities and inviting shared spaces come together to create a place residents are proud to call home.”
Located off 11th Drive, Verity spans more than 18 acres and consists of three-story buildings offering one-, two- and three-bedroom apartment homes with layouts reaching nearly 1,400 square feet. Each residence features many of the high-end finishes and amenities Thompson Thrift is known for such as granite countertops, stainless steel and energy-efficient appliances, full-size washers and dryers, hardwood-style flooring, tile backsplashes, designer fixtures and finishes, large walk-in closets, detached garages, and private yard and patio options.
Residents can also choose fully furnished layouts as well as homes with an array of upgraded finishes, architectural details, and deluxe features including walk-in showers with full tile and glass doors, premium lighting, an Alexa smart hub to integrate all smart devices, premium appliances, and a dry bar.
One tailormade community feature is a custom-angled clubhouse with a covered pavilion that connects to the 24-hour fitness center and includes a coffee bar, a 24-hour social hub, work-from-home suites, and a resident conference room with screenshare and video conferencing technology.
Other community amenities include a resort-style swimming pool, electric firepits with seating area, community grilling areas, a pickleball court, shuffleboard and billiards, a dog run with agility equipment and a pet spa. Residents also have access to high-speed internet access, an Amazon package hub, valet trash service, an onsite service team and a user-friendly mobile app for rent payment, submitting service requests, community feed, and more.
Verity residents are a short drive to nearby beaches and coastal attractions, as well as downtown Vero Beach and Treasure Coast Plaza, a popular dual-anchor shopping center.
At the ribbon cutting, visitors toured models and explored the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local non-profit St. Vincent de Paul of Indian River County to aid their efforts in helping their community through charitable services, including food, clothing, shelter and financial aid.

BOULDER, CO – Brickstone Partners, a full-service real estate investment and development firm based in Franklin, Tenn., announced that CEO Daniel Otis has acquired complete ownership and control of The Lodge at Boulder, a luxury 371 bed student housing community located at 2900 E. Aurora Avenue in Boulder, Colo and serving the University of Colorado Boulder. Cornerstone, Otis’ family office, played an instrumental role in acquiring the membership interest previously held by Deutsche Finance America (DFA).
“The Lodge has been a mainstay of our student housing platform in Boulder for many years, and we remain committed to providing exceptional living experiences for the University of Colorado students,” Otis said. “Completing this transaction allows us to continue investing in both the asset and the entire community with a long-term perspective.”
The acquisition of the 220-unit community represents a strategic consolidation of ownership and further aligns lasting control of the asset with Brickstone’s operations. The transaction follows the successful 2022 refinancing of a broader Boulder student housing portfolio—including The Lodge at Boulder—with financing co-originated by Blackstone Real Estate and Clarion Partners in a portfolio recapitalization valued at more than $180 million.
Since acquiring the property in 2015, Brickstone Partners and Otis have overseen significant value creation at the community. The investment was recapitalized in 2019 through a joint venture between Brickstone and DFA and later included in the 2022 portfolio refinancing. At the time of the recapitalization these assets had generated internal rates of return in excess of 30 percent.
The Lodge at Boulder has undergone extensive renovations, including upgraded unit interiors, a redesigned clubhouse, enhanced common areas and mechanical system improvements. The community continues to be recognized as one of the leading student housing options in the market, driven by its proximity to the University of Colorado Boulder campus and its high-quality amenity offerings.

LARGO, FL – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on Olea on 126 Apartments, a new 144-unit affordable housing complex for families in Largo, Florida, marking LAC’s latest ground-up construction project in Southwest Florida.
“Olea on 126 addresses a critical need in Pinellas County by providing quality housing options for families across multiple income levels,” said Jordan Richter, LAC Vice President and Regional Project Partner. “LAC is excited to bring a development to Largo that combines affordability with quality amenities that help families thrive and build community connections.”
Olea on 126 will feature a mix of two-, three- and four-bedroom apartments across three four-story buildings. The community will lease 35 of its units to residents earning up to 40% of the area median income (AMI), 72 units to residents earning up to 60% AMI and 38 units to residents earning up to 80% AMI.
Communal amenities include a clubhouse, fitness center, pool, playground, covered patio and EV charging stations. Construction is underway, with completion anticipated in June 2027.
“We have so many folks that are trying to work in this community, whether they’re teachers, hospitality workers, or first responders,” said Dave Eggers, Chair of the Pinellas County Board of Commissioners. “A wide range of folks are looking for housing, a place to call home.”
Lincoln Avenue Communities is one of the nation’s fastest-growing developers, investors, and operators of affordable and workforce housing, providing high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. LAC is a mission-driven organization with a presence in 32 states and a portfolio of 170+ properties comprising 30,500+ units housing 80,000+ residents.

LAS VEGAS, NV – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced that it has sponsored the purchase of Fairways on Green Valley, a 320-unit garden-style community in Henderson, Neveda.
Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the community, which is located in the charming Green Valley South neighborhood and adjacent to The Legacy Golf Club.
“We’ve long admired the Henderson submarket, and we’re very excited to re-enter the market at a time when we see so much upside,” said David Nelson, president and chief investment officer at Hamilton Zanze. “Given the minimal supply, diverse employment base and resilient renter demographic, rental fundamentals in Green Valley South are and will continue to be extremely compelling. Fairways on Green Valley represents a fantastic opportunity to re-enter the market through a well-maintained, institutionally-operated asset in a fantastic location poised for consistent and substantial value appreciation.”
Situated at 1851 N Green Valley Parkway, Fairways on Green Valley features one- and two-bedroom homes ranging from 725 to 1,035 square feet. Built in 1990, the community sits moments north of the Las Vegas Beltway (Interstate 215), which serves as the gateway to the greater Las Vegas area. The Beltway connects to the Purple Heart Highway (I-11) to the west and key thoroughfare I-15 to the east.
Community amenities at Fairways on Green Valley include a resort-style swimming pool, spa/hot tub, barbecue/picnic area, resident clubhouse, business center, game room, golf simulator, indoor sports court, soccer field and onsite fitness center. The community also features limited-access gated entry and covered parking.
Homes feature stainless steel appliances, granite countertops, gas stoves, fireplaces, in-home washers and dryers, large closets, ceiling fans, Roman bathtubs, air conditioning and private patios or balconies. Select homes feature views of the desert, golf course or pool area.
The transaction represents Hamilton Zanze’s first sponsored acquisition of 2026. The company sponsored seven acquisitions in 2025.

KANSAS CITY, MO – Cavan Companies announced its expansion into Kansas City, Missouri with the development of The Bungalows at Maple Woods, a 153-unit single-story Build-to-Rent community located at the northeast corner of Highway 152 and NE Barry Road in Kansas City’s Northland corridor.
Horizontal construction is projected to begin in June 2026, with vertical construction anticipated six to eight months thereafter.
The new community marks a strategic addition to Cavan’s growing Midwest platform and reflects the company’s continued focus on markets demonstrating durable renter demand and disciplined supply pipelines.
Kansas City’s multifamily fundamentals remain steady, with rents growing approximately 3 to 4 percent annually and occupancy near 93 percent. New supply represents roughly 3.4 percent of existing inventory, indicating a measured development environment relative to several high-growth Sunbelt metros.
The 16-acre site is located near Maple Woods Community College and established retail corridors in an area with a median household income of approximately $92,000.
The Bungalows at Maple Woods will feature a mix of one-, two-, and three-bedroom single-story residences with private fenced backyards, garages, and access to a community clubhouse and fitness center.
“Kansas City represents the type of market where long-term housing demand and economic stability align,” said Norm Miller, Chief Executive Officer of Cavan Companies. “Our approach is centered on building in markets with measured supply growth, strong employment bases, and sustainable absorption trends. We believe Kansas City offers that balance.”
Cavan’s expansion into Kansas City builds upon its existing presence in Omaha, Nebraska, where the company operates two Build-to-Rent communities and is in the process of closing on a third location. The firm’s Midwest growth strategy is focused on building regional density to enhance operational efficiencies and long-term portfolio durability.