NEW YORK, NY – Liberty Mutual Investments, the investment firm for Liberty Mutual Group, and Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition, investment management, and operation of high-quality residential communities, announced joint ventures for the acquisition and development of two new student housing projects, The Mark State College and The Mark Mansfield. The joint ventures will deliver 1,255 purpose-built off-campus student housing beds at Pennsylvania State University (Penn State) and The University of Connecticut (UConn).
These developments represent the first venture between LMI and Landmark, leveraging Landmark’s track record of more than 20 years, while continuing LMI’s focus on investing in premier student housing opportunities. LMI’s student housing portfolio includes approximately 17,000 beds and is focused on adding purpose-built housing near large public universities with robust student communities. TSB Capital Advisors arranged financing for both transactions.
The team will develop two sites – one on East College Avenue adjacent to the heart of the Penn State campus and the other on the corner of North Eagleville Road and Ledoyt Road, adjacent to the UConn campus core.
The Mark State College, a 12-story student housing project serving Penn State students, will add 515 beds upon completion. Planned amenities include a skydeck, rooftop pool and hot tub with campus views, jumbotron, modern fitness center and sauna, clubhouse/amenity area, grilling area and fire pits, sports simulator, study lounge with café and computer lab, structured parking deck, and bicycle/scooter parking. This is LMI’s third investment in student housing development within the Penn State market.
The Mark Mansfield, a 9-story student housing project serving UConn students, will add 740 beds in the supply-constrained Storrs, CT market. Planned amenities include a state-of-the-art fitness center and clubhouse, sauna, nearly pool-sized hot tub, study lounge, computer lab, gaming lounge, and bicycle parking.
“These properties represent exceptional opportunities to deliver premier off-campus student housing at thriving universities—communities that will attract students and provide long-term value for residents,” said Christopher Finn, Managing Director and Head of Real Estate at Liberty Mutual Investments. “We are excited to expand LMI’s student housing platform with Landmark, a leading developer of purpose-built, best-in-class student housing.”
“We’re excited about forging this relationship with LMI and look forward to working together on future initiatives,” said Walt Templin, President and Chief Investment Officer of Landmark Properties. “Our shared commitment to providing housing options in university communities will help students excel in their academic careers while also reducing the pressure on the local housing market.”
LMI invests more than $100 billion of long-term capital globally across its integrated platform on behalf of Liberty. The firm is focused on partnering with leading operators and investors to identify high-value opportunities, drive economic growth, and build enduring businesses side-by-side with its partners.

ATLANTA, GA – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Autry at Tulip Grove, a luxury 300-unit community in the Atlanta suburb of Buford. Thompson Thrift expects to welcome the first residents in January 2027.
“Gwinnett County is one of the most dynamic growth markets in the Southeast, with a thriving population, strong economy and exceptional employment rates,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Autry at Tulip Grove is designed to offer residents a seamless blend of style, comfort and connectivity, with amenities and finishes that create a place residents are proud to call home.”
Located at 1325 Laurel Crossing Pkwy NE, the 10-acre community will feature thoughtfully designed, four-story, elevator-serviced buildings offering spacious one-, two-, and three-bedroom apartment homes. In line with Thompson Thrift’s commitment to delivering high-quality homes with in-demand features and amenities, each residence will include premium interior finishes such as elegant quartz countertops, stainless-steel appliances, smooth glass-top ranges, timeless tile backsplash, designer fixtures and finishes and hardwood-style flooring. Residents will also enjoy large walk-in closets, walk-in showers, patio and balcony options, private yard options, detached garages, full-size washers and dryers, high-speed internet access, an Amazon package hub, and more.
Resort-style living will continue throughout the community and will feature two fully equipped fitness centers with 24-hour access, a heated swimming pool, electric vehicle charging stations, thoughtfully designed courtyards, an outdoor pavilion with a gas fireplace and seating, community grilling areas, outdoor game area, golf simulator, dog park, pet spa with grooming stations, billiards and shuffleboard, and a 24-hour social hub.
Situated adjacent to The Exchange, a 100-acre master planned development, future residents will have quick access to a wide variety of retail, entertainment and restaurant options, some of which include Sprouts Farmers Market, Pickle and Social, Andretti Indoor Karting & Games and TopGolf. Nearby access to Interstate 85 will offer convenient connectivity to downtown Lawrenceville, downtown Atlanta, Mall of Georgia and Sugarloaf Mills.
Autry at Tulip Grove is strategically positioned in one of Atlanta’s strongest suburban markets. In just a three-mile radius of the community, the population has grown 31.9% over the last 15 years, outpacing both Gwinnett County and the Atlanta MSA as a whole. Within Gwinnett County, 97% percent of the total workforce is currently employed, and the average household income is $114,000.
Major employers of the area include Publix Distribution & Manufacturing, Primerica, and Northside Hospital, which is underway on a 17-floor tower expansion that is slated for completion in 2026 and will generate an additional 5,000 jobs. Rowen, a 2,000-acre mixed-use development that could ultimately create 100,000 jobs once completed, is just 2.5 miles from the development.

AUBURN, AL – GTIS Partners LP, a global real estate investment firm that manages $4.7 billion in gross assets with a focus on residential and industrial investments, and RISE, a real estate development and management company specialized in student housing, announced the expansion of their joint venture to develop RISE Auburn, a premiere student housing community servicing the students of Auburn University.
With sustained enrollment growth at Auburn in recent years, the student housing market has tightened substantially due to a lack of new Class A developments with proximity to campus. GTIS and RISE were successfully able to assemble and entitle the 4.3-acre site which is situated approximately half a mile from campus. The project will feature 718 beds across 240 units in a highly amenitized building, offering students structured parking, a full-scale gym, a resort-style pool, a golf simulator, and study lounges.
“We are excited to expand our partnership with RISE and further strengthen our presence at SEC schools,” said Casey Chayet, Vice President of Acquisitions at GTIS. “Just as with our Ole Miss development with RISE (Ivy & Elm), RISE Auburn is an opportunity to deliver a best-in-class student housing community in a market we believe will see sustained enrollment growth for years to come. In the new era of Name, Image, and Likeness (NIL) in college athletics, GTIS and RISE will continue to pursue opportunities at universities that excel both academically and athletically.”
“Partnering with GTIS again allows us to follow through on our shared commitment to providing high-quality, modern housing where it’s needed most,” said Ryan Holmes, CEO of RISE. “With RISE Auburn, our goal is to create thoughtfully designed spaces and amenities that make life both easier and more fulfilling for Auburn students.”
The project is expected to deliver prior to the 2028-2029 academic year.

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.