ORLANDO, FL – National multifamily developer Wood Partners announced the start of construction on The Edgewater, a 328-unit, Class-A multifamily development overlooking Lake Fairview in Orlando, Florida. Wood Partners closed on the property in August. The community is part of the company’s attainable housing initiative, offering upscale living at cost-effective rates.
“With its lake frontage, adjacency to community parks and convenience to some of Greater Orlando’s leading employment hubs, shopping and dining destinations, this location is certain to appeal to a broad range of renters seeking a high-quality, attainable housing option,” said Bryan Borland, Executive Managing Director at Wood Partners. “Capitalizing on this dynamic, lakefront location, we’ve envisioned a community that exemplifies our commitment to Improving People’s Lives by Creating Better Communities.”
The Edgewater will feature a mix of one-, two-, and three-bedroom units, with 56 of the 328 units directly facing the water. Wood Partners’ attainable communities are built with upscale finishes, such as granite countertops, stainless steel appliances and top-of-the-line amenities. The developer saves on costs by selecting well-located suburban sites rather than more expensive urban locations, executing an efficient and consistent design. These savings allow for a lower price point for the renter.
Sandwiched between Winter Park and College Park, residents at The Edgewater will enjoy an abundance of retail, restaurant and entertainment offerings nearby. This includes the retail and dining destinations at Winter Park Village, which recently underwent a $50 million redevelopment, the dining hotspot Edgewater Drive and the charming boutique retail and award-winning restaurants of Downtown Winter Park. The Packing District, a 202-acre mixed-use development, is eight minutes away and boasts recent openings of a brand-new Publix and The Great Southern Box Food Hall, with a microbrewery and additional vendors coming soon.
The Edgewater is located along Lee Road, connecting to Interstate 4 to the east, placing Downtown Orlando just 15 minutes away. The community also connects to the Orange Blossom Trail to the west, offering proximity to The Packing District and Apopka. This location allows for easy access to many of the metro’s most prominent employment hubs within 10 minutes, including the Maitland Center, Winter Park and West Colonial submarkets.

ORLANDO, FL – Phorcys Capital Partners announced the acquisition of Village Veranda at Lady Lake, a 125-unit assisted living and memory care community located adjacent to The Villages, one of the nation s fastest-growing retirement destinations. The community was acquired through a court-appointed receivership sale in which Phorcys was selected as the stalking horse bidder.
Village Veranda at Lady Lake represents a compelling opportunity to acquire a high-quality senior living community in a premier Florida market, said Vasileios Sfyris, Managing Partner at Phorcys. We see tremendous potential to build on the strong foundation already in place and further enhance the resident experience.
Opened in 2019, the community offers a full continuum of care with assisted living and memory care services, along with modern amenities including landscaped courtyards, a theater, café lounge, library, salon, physical therapy, and fitness center. Its location along US-441 provides excellent visibility and accessibility, serving a rapidly growing senior population within the Orlando MSA.
Phorcys will partner with SRI Management, a highly regarded senior living operator, to continue driving occupancy growth and operational excellence at the community.
Phorcys Capital Partners brings an ownership mindset and long-term vision that align perfectly with our mission to deliver exceptional resident care, said Todd Filippone, President of SRI Management. Together, we look forward to positioning Village Veranda as the community of choice in the Lady Lake market.
This acquisition marks Phorcys s fifth senior housing investment and underscores the firm s commitment to expanding its footprint in the growing senior housing market.
Senior housing remains one of the most compelling investment opportunities today, added Sfyris. We believe demographic tailwinds and limited new supply create an environment where well-located, well-managed communities like Village Veranda can deliver exceptional outcomes for residents and attractive returns for investors.

KANSAS CITY, KS – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced it has sponsored the purchase of Legends 267, a six-story apartment community in Kansas City, Kansas.
Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the one-year-old property, which serves as a key residential component of the Village West mixed-use development in west Kansas City.
“Kansas City continues to be a high-performing market offering resilient yield and consistent operations,” said David Nelson, president and chief investment officer at Hamilton Zanze. “The city’s marginal incoming apartment development, strong employment growth, diverse economy, high local household incomes, municipal investment in business and population growth give us conviction in our recent and ongoing investment in the market. We are excited about the acquisition of Legends 267 and will continue to evaluate further expansion in the MSA.”
Located at 1879 Village West Parkway, Legends 267 features 267 one- and two-bedroom homes with various layouts available. The community, originally built in 2024, offers easy connectivity to Interstate 435, I-70 and is within walking distance of several neighborhood attractions, including super regional mall Legends Outlet Kansas City.
Community amenities include a rooftop sky lounge, heated swimming pool and hot tub, infrared sauna, grill stations, fire pits, social space with bar and TVs, coffee lounge, courtyard hammock garden and a high-tech fitness center with a yoga studio. The pet-friendly community also offers controlled-access garage parking, concierge services and a bike storage room.
Home interiors include a variety of upscale features, including quartz countertops, stainless steel appliances, wood-style flooring, custom cabinetry, walk-in closets, in-home washers and dryers, air conditioning, high-speed internet access and private patios or balconies.

DALLAS, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of Arlo Buffalo Heights apartments in Houston, Texas. The transaction marks the tenth acquisition in Knightvest’s Fund II and further solidifies the firm’s footprint in the Neartown-River Oaks submarket, where Knightvest owns and operates multiple communities.
Originally built in 2014, the 318-unit wrap-style community is well positioned in one of Houston’s most desirable urban submarkets and is walkable to some of the city’s most popular restaurants and entertainment venues. Knightvest will implement a comprehensive renovation program to elevate the property to a level that competes with newer construction in the area. Planned improvements include full unit interior upgrades, a relocated leasing center, and extensive amenity enhancements. As part of the renovation efforts, Knightvest has renamed the community to Whitmore.
“With this acquisition, we’re continuing to expand a focused portfolio of well-located assets that are roughly 10 to 20 years old across major Sun Belt markets,” said David Moore, Knightvest founder and CEO. “Our proven experience in the Neartown-River Oaks submarket provides a strong foundation for executing the business plan at Whitmore, and it reflects the kind of opportunity we’re targeting as we continue to execute our strategy for Fund II.”
Houston remains one of the country’s fastest-growing cities, and this momentum will continue to fuel demand for high-quality housing at a discount to new construction in desirable locations like that of the Neartown-River Oaks area.

BEVERLY HILLS, CA – Global real estate investment company Kennedy Wilson (NYSE: KW) and Toll Brothers, Inc. (NYSE: TOL), the nation s leading builder of luxury homes, announced that Kennedy Wilson has agreed to acquire Toll Brothers Apartment Living platform, including its in-house development team and its interests in a portfolio of completed properties and assets under development, for a total purchase price of $347 million. The transaction will provide immediate scale to Kennedy Wilson s investment management platform and its rental housing capabilities, while monetizing a significant portion of Toll Brothers investments in rental properties. The transaction is expected to close in October 2025 and is subject to certain closing conditions.
As part of the transaction, Kennedy Wilson will acquire Toll Brothers general partner interests in 18 apartment and student housing properties with AUM of $2.2 billion. Kennedy Wilson will also acquire a pipeline of 29 sites in various stages of development which, if completed, would total approximately $3.6 billion of invested capital, with Kennedy Wilson to assume construction management responsibilities for these properties. As part of the transaction, Kennedy Wilson will also manage 20 apartment and student housing properties that will remain with Toll Brothers following closing, representing another $3.0 billion of AUM for Kennedy Wilson. It is Toll Brothers intention to dispose of these remaining assets over time and exit the multifamily development business.
Kennedy Wilson will also acquire the expertise of the Toll Brothers Apartment Living management team. It expects to make offers to all employees of Toll Brothers Apartment Living and anticipates the entire Apartment Living executive team will join Kennedy Wilson to oversee the existing portfolio and further grow the development platform.
In addition, the transaction is expected to create a new long-term relationship between the two companies that paves the way for future investment opportunities across rental and for-sale housing. Under this arrangement, Kennedy Wilson will refer prospective for-sale housing opportunities to Toll Brothers, and Toll Brothers will reciprocate with rental housing opportunities, creating a mutually beneficial pipeline of shared deal flow.
Kennedy Wilson expects to make an initial investment of approximately $90 million in the acquired interests and will assume Toll Brothers general partner role in such acquired assets. The balance of the purchase price will be funded from existing Kennedy Wilson partners. The transaction will immediately enhance the scale of Kennedy Wilson s world-class investment management platform.
We are thrilled to welcome the best-in-class team at Toll Brothers Apartment Living to Kennedy Wilson and to further accelerate the growth of our investment management business and multifamily development capabilities at a time when the country is in true need of new, high-quality housing, said William McMorrow, Chairman and CEO of Kennedy Wilson. This purchase helps create an unparalleled national platform within the rental housing space that totals over 80,000 units we own, finance or manage, and solidifies Kennedy Wilson s fully integrated capabilities across real estate development, acquisitions, and asset management along with a market-leading housing-focused credit platform.
We are proud of the value that has been created by our Toll Brothers Apartment Living business, and we are excited for the future of this team with Kennedy Wilson, said Douglas C. Yearley, Jr., Chairman and CEO of Toll Brothers. This transaction will unlock significant capital for our stockholders, while allowing us to focus on our core homebuilding business and continue our transformation to a more asset-light homebuilder. We are pleased that our Toll Brothers Apartment Living employees have found a new home at Kennedy Wilson.

ALAMEDA, CA – The Housing Authority of the City of Alameda (AHA) held a public event to celebrate the “Grand Opening” of the Estuary I and Linnet Corner. The event featured speakers from various AHA partners including Alameda County Supervisor (Lena Tam) and the City Manager from the City of Alameda (Jennifer Ott). The Grand Opening was open to the public, surrounding neighbors and families. AHA has been planning and coordinating the development at North Housing for over a decade.
In early 2024, AHA started construction on both Estuary I and Linnet Corner. Residents started move-ins at Estuary I in July 2025 and Linnet Corner residents started moving in during September 2025. These 109 newly developed affordable rental homes are contained in two separate buildings and represent the first housing communities in AHA’s North Housing Master Plan.
North Housing is a multi-year commitment for the Housing Authority of the City of Alameda, along with its development affiliate, Island City Development to create over 500+ affordable rental homes to serve low-income Alamedans. The twelve acres allocated for North Housing are situated at the former US Naval Air Station (NAS) base and was granted to the Housing Authority (in 2019), via the Surplus Land Act, by the U.S. Department of Navy, with support of the Alameda Point Collaborative and Building Futures for Women and Children. Prior to Navy ownership, the land was owned by AHA and housed families of workers at the naval base.
Estuary I is the City of Alameda’s first new construction 100% permanent supportive housing community for previously homeless persons and features 45 units (a mix of 20 one bedroom apartments, 24 studio apartments, and two-bedroom manager unit). Estuary 1 opened in late July and is fully occupied with all 45 units filled with residents. Linnet Corner houses seniors (ages 62+ and older) and features 64 units (a mix of 40 studio units, 23 one-bedroom units, and two-bedroom manager unit). Sixteen of the 64 units at Linnet Corner are reserved for U.S. military veterans who are seniors, previously homeless, and disabled. Linnet Corner opened in early September and is currently in the process of leasing up all units.
Kerry Deichen, a Market Executive from Bank of America N.A. which is a major funder for North Housing states “It’s so exciting to be part of the incredible transformation of the former Naval Air Station into much needed affordable housing and supportive services for working families, seniors and formerly homeless individuals. Bank of America provided construction financing and serves as the tax credit investor with Enterprise Community Partners for both Estuary I and Linnet Corner with the Housing Authority of the City of Alameda. This has been a true public-private partnership with city, county, state and federal partners working together to bring much needed new affordable housing to the East Bay region.”
AHA has invested $8.6 million dollars of its own funds and has allocated 80 Project Based Vouchers towards Linnet Corner and Estuary I. “The Housing Authority is excited to open the first two properties at North Housing after ten plus years of commitment to provide urgently needed housing for low-income populations that include people with disabilities, previously homeless, military veterans, and seniors.” stated Vanessa Cooper, AHA Executive Director.
Besides the Housing Authority of the City of Alameda, other funders for this project include Bank of America, N.A., Enterprise Community Investments, the California Community Reinvestment Corporation, the California Debt Limit Allocation Committee (CDLAC), the California Tax Credit Allocation Committee (TCAC), the California Municipal Finance Authority (CMFA), the California Department of Veteran Affairs (Cal Vet), the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1), the Infill Infrastructure Grant Program (IIG), the Multifamily Housing Program (MHP), the Veterans Housing and Homelessness Prevention program (VHHP) through the California Department of Housing and Community Development (HCD), the Alameda Affordable Housing Trust Fund operated by the Alameda Affordable Housing Corporation, the City of Alameda (HOME, Community Block Development Grant, Permanent Local Housing Allocation, and Inclusionary Housing funds), the US Department of Housing and Urban Development (HUD), the Federal Home Loan Bank of San Francisco’s (FHLBSF) Affordable Housing Program (AHP), the Bank of Marin, and the Home Depot Foundation). The County of Alameda provides funding case management services through the Cal-AIM program. Island City Development is the developer of this project and the Housing Authority of the City of Alameda owns the land. The architect for Linnet Corner and The Estuary I is HKIT Architects. The General Contractor is J.H. Fitzmaurice.

ATLANTA, GA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera Westside Trail, a contemporary midrise community in Atlanta’s West Midtown neighborhood.
Modera Westside Trail, which features 373 homes, offers convenient access to the Westside Beltline Connector Trail and the experiential retail, restaurants, breweries and music venues that define West Midtown. The community is located alongside the west boundary of the Georgia Tech campus and just south of Echo Street West, a new mixed-use development featuring office, retail and residential offerings. First move-ins are anticipated for October.
“As the Westside becomes more connected, it continues to emerge as one of Atlanta’s most attractive living destinations,” said Phil Carson, managing director of development in Atlanta for Mill Creek Residential. “Modera Westside Trail is designed to meet that demand with a community that blends high-end amenities, thoughtful design and seamless connectivity. From local restaurants and retail to major city attractions, this location puts everything within reach, and we’re excited to welcome our first residents next month.”
Situated at 576 Northside Drive Northwest, Modera Westside Trail offers panoramic views of the Atlanta skyline and will put residents within a short commute of the thriving employment sectors of Midtown, Atlantic Station and Downtown Atlanta. The community is positioned just minutes from Atlanta’s primary artery, the Downtown Connector (I-75/85). Additionally, popular athletic venues including Mercedes-Benz Stadium, State Farm Arena, Bobby Dodd Stadium and McCamish Pavilion are nearby.
Modera Westside Trail offers studio, one-, two- and three-bedroom homes, including 37 premium collection homes with upgraded features. Community amenities include a resort-style swimming pool with sundeck and unobstructed views of Midtown, eighth-floor sky lounge with bar area and outdoor deck, multiple outdoor courtyards with fire pits and grilling areas, spa with sauna and steam room, boutique-style lobby, expansive resident clubroom, coworking space, private conference room, dog park, pet spa and a club-quality fitness center with cardio equipment, Echelon spin bikes, yoga studio and fitness on-demand. Residents will also have access to 24/7 self-serve digital package lockers, controlled-access garage parking, EV-charging stations, complimentary loaner bikes, bike repair station, bike storage and additional storage space.
Home interiors include nine-foot ceilings, oversized windows, wood-style plank flooring, stainless steel appliances, quartz countertops, custom cabinetry, tile backsplashes, spacious closets, in-home washers and dryers and tile shower surrounds. Smart home features include keyless entry, connected smart thermostats, USB outlets and secure controlled-access guest technology. Premium homes feature French door refrigerators, built-in desks, under-cabinet lighting, designer bathrooms with spa-like soaking tubs, LED mirrors and additional refined features.

LAS VEGAS, NV – MG Properties, a leading real estate investment and management company, announced the $64 million acquisition of The Pearl at St. Rose, a premier garden-style property located within the desirable Silverado Ranch master-planned community in Las Vegas, Nevada. The closing marks MG Properties’ ninth multifamily acquisition over the past twelve months, comprising 3,250 units and totaling over $1 billion.
The Pearl at St. Rose is a 270-unit apartment community situated along the St. Rose Corridor in South Las Vegas, offering residents easy access to a wide variety of local retail and amenities, as well as convenient transit to employment centers throughout the Las Vegas Valley. Built in 2000, the property features spacious floor plans, modern interior finishes, and a range of lifestyle amenities including a pool and spa, fitness center, dog park, and resident clubhouse.
“We are excited to expand our presence in Las Vegas and further leverage the efficiency of our regional operations there,” said Jeff Gleiberman, President of MG Properties. “Given continued economic expansion and diversification coupled with limited future supply, we are very bullish on the long-term fundamentals and growth potential of the market.”
The seller, an affiliate of The CONAM Group, was represented by Charles Steele, John Cunningham, and Jared Glover of Berkadia. Financing for the transaction was provided by Freddie Mac and arranged by Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino, and Michael Beach of Berkadia.

LAS VEGAS, NV – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the financial closing and groundbreaking of a $133 million, 390-unit luxury residential community in Las Vegas, developed in partnership with Haseko North America, the U.S. subsidiary of Japan s largest condominium construction firm.
Located at the northeast corner of West Maule Ave. and Gagnier Blvd., the site is directly across from the Durango Casino & Resort and adjacent to The UnCommons, a premier mixed-use destination featuring upscale apartments, retail, dining and Class-A office space.
This marks The NRP Group s third groundbreaking in Las Vegas this year, underscoring the firm s strategic expansion into one of the fastest-growing cities in the U.S. The firm s rapid 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.
This development is a premier example of NRP s market-rate luxury portfolio, said The NRP Group Vice President of Development Mike Moriarty. Its proximity to the Durango Casino and The UnCommons, combined with true walkability outside the Strip, makes it a rare and highly desirable location. From the luxury finishes to the thoughtfully curated amenities, this community will serve as our flagship in Las Vegas and set a new standard for upscale living in the region.
Located in the Spring Valley submarket along I-215, the community offers convenient access to major employment hubs and some of the largest companies in Las Vegas, including DraftKings, EY, BDO, Berkadia, CBRE, Morgan Stanley, Newmark, Sotheby s and Deloitte. Residents will be just a 10-minute drive from the Las Vegas Strip and 12 minutes from Harry Reid International Airport.
The four-story, single-building development will comprise a mix of studio, one-, two-, and three-bedroom residences designed for premium comfort and flexibility. Each home will include high-end finishes such as stainless steel appliances, quartz countertops, designer cabinetry, wood-style flooring, and in-unit washers and dryers.
Residents will enjoy a suite of resort-style amenities, including a swimming pool, two landscaped courtyards, a 24-hour fitness center, indoor bicycle storage with a repair station, an indoor pet wash and a 575-space parking garage. The property s clubhouse will offer a community kitchen, coffee station, pool table, and a multi-sport simulator. The building s design emphasizes warm tones and a sophisticated, modern aesthetic to promote wellness, walkability and connection.
Our partnership with The NRP Group reflects Haseko s commitment to aligning with best-in-class developers who share our vision for creating transformative communities, said Haseko North America President and Chairman Kain Matsumoto. This project is a strategic milestone for us, combining thoughtful design, walkable urban planning and long-term value creation in one of the most dynamic housing markets in the country. We re proud to collaborate on what will become a flagship destination for luxury living in Las Vegas.
The location of this community is truly exceptional, offering walkable access to entertainment, dining and employment in a way that s rare outside the Las Vegas Strip, said Laurie Mathers, Haseko North America Head of Investment and Asset Management. With nearby lifestyle and entertainment destinations just steps away, residents will enjoy a blend of convenience, sophistication, and connectivity within their new homes. This development is a perfect example of how smart site selection and elevated design can redefine urban living.
Las Vegas remains a priority market for The NRP Group. The firm recently broke ground on North & Valley, a 105-unit affordable housing community in North Las Vegas, and Miraluna, a Class-A, 342-unit apartment located near the Southern Highlands Master-Planned Community. By year-end, nearly 1,200 units across four developments in the Las Vegas market will be under construction. The NRP Group has developed more than 62,000 apartment homes since 1994, and currently manages over 30,000 residential units across the U.S.
The NRP Group broke ground on the new residential housing development this month, with completion scheduled for Q3 2027.

SEATTLE, WA – Security Properties, the leading real estate investment firm in the Pacific Northwest, has completed one of the largest multifamily acquisitions in the Seattle area so far this year, purchasing a five-property, 903-unit Seattle portfolio from Washington Holdings for $400.8 million.
The sale includes Liza Eastlake, The Hemlock, The Hayes on Stone Way, Carter on the Park, and Heron Flats & Lofts. These high-quality assets are in some of Seattle’s most desirable and well-connected neighborhoods, which benefit from immediate proximity to major regional employers. Eastdil Secured represented the seller in the transaction.
“This acquisition underscores our long-term commitment to Seattle and the Pacific Northwest,” said Dan Byrnes, Chief Executive Officer of Security Properties. “These communities are in neighborhoods where our team members live, where we have deep local knowledge, and where we see exceptional long-term value. This is our second acquisition from Washington Holdings this year, and they have an outstanding reputation for delivering and preserving high quality assets. We’re excited to continue the stewardship and provide unmatched living experiences to Seattle residents.”
The transaction comes at a time when Seattle’s multifamily fundamentals remain strong despite national headwinds as units under construction in the metro area continue to drop. With new supply constrained and targeted submarkets experiencing a tangible boost from return-to-office trends, Security Properties sees a clear opportunity to secure high-quality assets positioned for long-term performance.
Mark Bates, newly appointed Chief Investment Officer of Security Properties, noted the strategic and operational significance of the deal. “This acquisition not only strengthens our Seattle portfolio but also demonstrates our ability to execute complex transactions that require creative capital structures and trusted capital relationships,” Bates said. “It’s a clear example of our team’s ability to deliver for our partners and something we have been working towards for the past year.”
Bates stepped into his new role as CIO earlier this summer with a focus on streamlining Security Properties’ product offerings to investors.
“Our goal for this year is to create a structure that breaks down barriers between our product types — market rate, affordable, and development — so we can better match the right capital with the right investment opportunities,” said Bates. “My focus is on making our investment platform more interconnected, efficient, and responsive to our partners.”
The acquisition builds on a busy first half of the year for the company. In the spring, Security Properties sold the last asset purchased from the Security Properties Multifamily Fund II, an investment vehicle which launched in late 2013 and held 13 assets. The fund delivered strong returns, generating an IRR of 27.2% and an equity multiple of approximately 3.3x. The performance is an example of the diversified, value-add investment strategy that defines the Security Properties platform. The team has a demonstrated track record of their ability to underwrite with precision, considering factors such as incoming supply, historical and in-place operating performance, and asset-specific locational and demand drivers that support long-term value creation.
The company plans to extend this formula and market expertise as they continue to expand nationally with a focus on key markets such as Denver, Nashville, the Bay Area and others. The company is doubling down in markets where they have a competitive edge through deep relationships, local intelligence, and the ability to source off-market opportunities. “Our approach is precise and data-driven,” Bates said. “Whether in Seattle or in other target metros, we are committed to finding the right investments for our partners, assets that can outperform through thoughtful acquisition, strong operations, and a long-term view.”
Byrnes said this evolution is critical to keeping Security Properties at the forefront of multifamily investing. “Our investors include some of the largest institutions in the world, and we embrace the challenge of delivering best-in-class opportunities and results,” he said. “Scale matters in this business, and this transaction is a milestone in our ability to deliver that level of service and performance.”