RALEIGH, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, has officially opened Maeve, a 20-story, luxury mixed-use high-rise located in Raleigh’s Warehouse District. The milestone marks the successful completion of a major opportunity zone development that now stands as one of the most significant additions to downtown Raleigh’s urban landscape.
The grand opening event, held earlier today, featured a host of local dignitaries, including Raleigh Mayor Janet Cowell, Bill King of Downtown Raleigh Alliance, Kerry Painter of Raleigh Convention Center, as well as Capital Square Co-CEO Whitson Huffman, and other key partners and development team leaders. After the reception and speeches, attendees toured the building’s residences and amenity spaces.
“What was once a shuttered building and a surface parking lot has become a magnificent 20-story landmark apartment tower with ground-floor retail, extending the downtown core south,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By investing in Maeve, investors from North Carolina and beyond are able to participate in Raleigh’s growth engine. And the icing on the cake for investors – taxes on the sale of Maeve will be forgiven after a ten-year holding period under the opportunity zone legislation.”
Located at 319 West Lenoir St., Maeve includes 297 apartment homes and more than 10,000 square feet of street-level retail, available for leasing. The community offers studios and one- to three-bedroom units, with upscale features such as exposed concrete ceilings, stainless steel appliances, luxury vinyl and tile flooring, and modern cabinetry. A dramatic, double-height lobby connects to 30,000 square feet of amenities, including a resort-style pool, rooftop lounge, coworking spaces, and fitness center. A multilevel parking garage is also available for residents and guests.
Positioned at the nexus of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, Maeve is one of the few luxury apartment communities in the downtown submarket and is within walking distance of entertainment venues, restaurants, cultural landmarks, and major employers. Proximity to U.S. Route 70 allows for convenient travel to the Research Triangle and nationally renowned educational institutions, including Duke University, the University of North Carolina at Chapel Hill, and North Carolina State University.
“Capital Square is proud to celebrate the grand opening of Maeve, where residents are now enjoying a refined living experience complete with premier amenities and sweeping views of downtown Raleigh and the Red Hat Amphitheater,” said Whit Huffman, co-chief executive officer of Capital Square. “More importantly, this marks a significant step in the ongoing transformation of the Raleigh Warehouse District into a thriving, 24-hour neighborhood. That momentum will continue to build as hundreds of new residents make Maeve and this vibrant community their home.”
Constructed from fall 2022 through spring 2025, Maeve supported an estimated annual average of 750 jobs across the Raleigh-Carymetropolitan statistical area, according to FTI Consulting.1 The project also generated an estimated $108.5 million in annual output, $76.3 million in gross domestic product and $52.6 million in labor income during its construction phase. In addition, $3.8 million in state and local tax revenues and $11.1 million in federal taxes were generated.2
Now fully operational, Maeve supports 78 permanent jobs, including leasing and maintenance personnel and anticipated commercial tenants. The building is expected to generate an annual economic impact of $23.4 million to GDP, $4 million in labor income, $600,000 in federal tax revenues and approximately $1.5 million in state and local tax revenues.
Capital Square partnered with JDAVIS Architects as building architect and W.M. Jordan Company as general contractor. The design team also included Architecture Firm as interior designer and EDSA as landscape designer. Greystar is the property manager and York Properties is serving as the leasing agent for the retail spaces.
Maeve was funded with a construction loan from First National Bank of Pennsylvania, equity from FrontRange Capital Partners, and proceeds from Capital Square’s sixth qualified opportunity zone fund, CSRA Opportunity Zone Fund VI, LLC. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones. More recently, Capital Square launched CSRA Opportunity Zone Fund IX, LLC to fund the construction of a luxury multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia.
Overall, Capital Square’s nine opportunity zone funds have initiated in excess of $870 million in gross asset value to date and have generated $197 million in annual gross domestic product during construction. The nine projects are expected to contribute an additional $81 million in annual GDP from ongoing operations.
According to economic impact studies completed by FTI Consulting, Capital Square’s opportunity zone developments have generated significant economic and fiscal impacts, including the creation of approximately 2,000 construction jobs during development, as well as 345 permanent full-time jobs projected to be supported annually from ongoing operations. In turn, the developments have generated $41 million in annual total tax revenue during their construction phases and are projected to deliver $17 million in annual state and local tax revenues during their operational phases.

AUSTIN, TX – National multifamily developer Wood Partners and its partner ParkProperty Capital (PPC) announced the start of construction on a 336-unit multifamily development in Hutto, Texas, a suburb outside of Austin. The project broke ground this week and is slated to deliver to the community in the third quarter of 2026.
Located off of Ed Schmidt Boulevard, the new community offers residents suburban living with access to urban conveniences, including the Co-Op District, Bushy Creek Amphitheater, a curated selection of retail and restaurants and more. Additionally, with access to Austin’s major highways, the development is in the center of some of the city’s top employers, including many high-tech, manufacturing and service companies. A recent report by The Williamson County Economic Development Partnership forecasts significant growth for the city of Hutto, which is projected to gain 32,800 new residents, requiring an additional 11,700 housing units to be delivered in the area.
“At Wood Partners, we’re committed to delivering high-quality multifamily developments that support the growth and success of cities like Hutto,” said Bart Barrett, Managing Director at Wood Partners. “Hutto offers a unique balance of a suburban lifestyle with accessible urban amenities and proximity to Downtown Austin, one of the nation’s fastest-growing cities. We’re proud to contribute to the region’s evolution by providing housing options that meet the needs of this thriving community.”
The multifamily community comprises 10 three-story buildings and offers a variety of amenities including a state-of-the-art fitness center, a business lounge, private offices, a club room with a coffee station, a resort-style pool and a fenced dog park. In collaboration with city officials, the development will also feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Residents can expect granite countertops, 42-inch shaker-style cabinets, wood-like flooring, stainless steel appliances, full-size washer and dryer and ground-floor units with private fenced yards.

CHICAGO, IL – Oxford Capital Group announced its acquisition of the Carefree Portfolio, eleven seniors housing properties totaling 489 units in the Minneapolis area and northern Minnesota. An affiliate of Oxford acquired the properties from an independent operator. Oxford’s senior housing management affiliate, Oxford Living US, LLC, will manage the properties. Terms of the transaction were not disclosed.
“We are excited to continue to expand our senior housing silo as we strategically assemble a portfolio of properties throughout the United States and Canada,” said John W. Rutledge, Founder, Chairman & CEO of Oxford Capital Group, the Chicago based investor, manager, and developer, as well as Chairman of Oxford Living. “Oxford Living has made targeted senior housing acquisitions and investments in a number of growing markets throughout the southeastern United States, the Pacific northwest and Canada, including Florida and Ontario. Our Minnesota acquisition fits well into our acquisition strategy. We plan further portfolio acquisitions in these and other markets.”
“While most institutional investors focus on high-end development in urban centers, our strategy is to buy overlooked mid-market properties which are dependable, comfortable and affordable,” said Oxford Living President Lawrence Cummings, who has over thirty years of experience in seniors housing management, operations and development. “We have been warmly received by the resident community in the properties we are acquiring, as well as by the civic leadership in the Minnesota markets in which we are investing. We look forward to continuing to fulfill the properties’ mission to serve their residents and surrounding communities.”
Oxford Living focuses on high private pay senior housing properties in both primary and important secondary markets throughout the United States and Canada. Acquisitions focus on markets with compelling demographics and properties with significant value-add potential.
The eleven property Carefree Portfolio totals 489 units located in the greater Minneapolis area, Duluth and other markets in northern Minnesota. Oxford will invest several million dollars in the coming years enhancing the properties and will add services in several of the properties as needed.

ATLANTA, GA – National multifamily developer Wood Partners expands its presence across the Southeast with the start of construction on projects in Palmetto, Florida, Nashville and Atlanta. The multifamily communities are part of the Wood Partners’ new attainable housing initiative offering upscale living at cost-effective rates.
“Wood Partners’ recent expansion in the Southeast creates valuable living opportunities in the region’s fastest-growing markets as we continue to deliver upscale yet attainable housing,” said Joe Keough, CEO at Wood Partners. “The growth of our attainable housing strategy has allowed us to provide high-quality, cost-effective apartments where they are most needed. We are meeting this unmet attainable housing demand across our entire national footprint.”
Palmetto is a 246-unit, four-story attainable development in Palmetto, Florida, featuring a mix of one-, two- and three-bedroom apartment layouts. Centrally located between St. Petersburg, Tampa, Sarasota and Lakewood Ranch, Palmetto offers proximity to award-winning beaches, top-tier medical facilities and premier shopping and dining destinations. In addition to neighborhood offerings, the multifamily community features a resort-style pool, a sundeck with shade sail, grill areas, a package room, fitness center, resident clubhouse with pool table and shuffleboards, coworking space, day office, hospitality kitchen, a dog park and an outdoor pet wash.
Gallatin, located at 1330 Nashville Pike, spans 35 acres and features 372 multifamily apartments for rent, including one- and two-bedroom units. The development will include 5,000 square feet of commercial space at the front of the property. Residents can enjoy a range of amenities, including a clubhouse, fitness center, business hub, pool, dog park, amenity lawn and for-rent detached garages. Gallatin broke ground in February, with the first units expected to be delivered by Spring 2026.
Ben Hill is a 236-unit community in southwest Atlanta, featuring a mix of one-, two- and three-bedroom layouts. The multifamily community is ideally located near Hartsfield-Jackson Atlanta International Airport, Georgia’s largest employer, as well as major industrial corridors, including the Fulton Industrial Corridor and the I-85 South industrial corridor. Amenities will include a clubroom, coworking space, day offices, a fitness center, a pool and a dog park, enhancing the living experience. The development broke ground in January and is slated for completion in August 2026.
Wood Partners’ attainable communities are built with upscale finishes such as granite countertops and 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 and embracing minimal, yet well-done, landscaping. These savings allow for a lower price point for the renter. Last year, Wood Partners introduced multiple attainable housing communities, including Union City in Atlanta, Conner Park in Tampa, Mint Hill in Charlotte, North Carolina and Rayzor Ranch in Dallas.

SEATTLE, WA – Security Properties in partnership with RGA ReCap Real Estate Investments on behalf of Reinsurance Group of America (RGA) purchased Henry Apartments, a 100-unit multifamily property built in 2017 located in Seattle, Washington, for $34,750,000. This strategic move aligns with the city’s evolving work landscape, as remote work declines and demand for conveniently located housing rises.
Amazon’s recent policy requiring employees to work from the office five days a week has significantly impacted downtown Seattle. In January 2025, the city recorded the second-highest weekday worker foot traffic since March 2020, with 2 million unique visitors downtown. This shift underscores the growing need for residential options close to employment hubs.
Henry is in Seattle’s desirable Queen Anne neighborhood, a premier residential area renowned for its historic architecture, tree-lined streets, and breathtaking views. Residents of Queen Anne not only benefit from the neighborhood’s proximity to major employers, but they also enjoy easy access to everyday conveniences, shopping, dining, cultural attractions, and outdoor opportunities.
New multifamily residential construction in the area is expected to decline by nearly 70% over the next two years, as development barriers remain high. Coupled with the surge in return-to-office mandates, Henry is uniquely positioned to benefit from limited future competition and sustained demand for rentals. With this acquisition, Security Properties reinforces its leadership in Seattle’s multifamily residential market, meeting the moment as urban living near major employers becomes more essential than ever.
“Henry exemplifies our strategy of investing in high-quality assets located in premier, supply-constrained neighborhoods with exceptional connectivity to employment and lifestyle amenities,” said Daniel Diaz, Director at Security Properties. “The Queen Anne neighborhood continues to benefit from renewed return-to-office momentum, particularly with major employers drawing talent back to the urban core. This shift is already translating into stronger leasing activity across our urban portfolio, and Henry is well-positioned to capture that demand given its proximity to South Lake Union and Downtown Seattle.”
Security Properties intends to implement a targeted renovation program building upon the property’s existing high-end finishes while enhancing the amenity offerings to further elevate the resident experience. With the addition of Henry, Security Properties now owns 29 assets totaling more than 6,500 units in the Greater Seattle area and approximately 25,000 units nationwide. The property will be managed by Security Properties-affiliate Security Properties Residential.

RALEIGH, NC – ECI Group announced the acquisition of Ardmore at Flowers Apartments, an 11-building, 396-unit apartment development at 380 Topwater Drive in Raleigh (Clayton), NC, in the 3,000-acre Flowers Plantation master-planned community.
The community will be rebranded as The Averly at Flowers. The price was not disclosed in the “off-market” transaction. The investment marks ECI’s first acquisition with Almanac Realty Investors, a division of Neuberger-Berman, since the announcement in October 2024 of Almanac’s $350 million infusion of capital to fuel ECI’s expansion.
“ECI is excited to return to North Carolina and expand our presence in the Southeast with the acquisition of Ardmore at Flowers,” said Scott Levitt, Chief Acquisitions Officer at ECI Group. “We believe this investment represents an excellent opportunity to acquire a new property at well below today’s replacement cost in one of the fastest growing submarkets in North Carolina with a very limited near-term supply of newly constructed apartments. This has historically been a recipe for success. We expect this to be the first of many acquisitions over the next few years in the Southeast and Texas with our new Almanac partnership.”
The re-branded The Averly at Flowers apartments offer all the modern features of new development alongside a highly desirable location within the award-winning Flowers Plantation in Clayton. Residents enjoy easy access to community anchors Publix, Harris Teeter, and the Triangle YMCA, along with an additional 50,000 square feet of commercial space expected by 2026. Walking trails, top-rated schools, shopping, and dining add to the appeal of the community, which has convenient access to I-40 and I-42.

PENSACOLA, 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 The Quinn, a 324-unit Class A multifamily community in Pensacola. The first residents began moving in last fall, and the company expects to complete construction at the end of the summer.
“We’re honored to be part of the Pensacola community and excited to welcome residents to The Quinn,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “We look forward to making a positive impact—both within the neighborhood and in the lives of our residents—through thoughtful design, meaningful connections and a commitment to exceptional living.”
Located near the intersection of W Nine Mile Road and Beulah Rd, The Quinn consists of nine, three-story garden-style apartment buildings on 18 acres. The one-, two-, and three-bedroom apartment homes average approximately 1,000 square feet and residents will be able to select from a variety of layouts with signature amenities including a balcony or ground-floor patio, private enclosed yards as well as detached single-car garages. The apartment homes are finished with elegant quartz countertops, hardwood-style flooring, stainless steel appliances, high-speed, instant-on internet access, ceiling fans in all bedrooms and the living room, a full-size washer and dryer, smart thermostat and an Alexa-compatible smart hub.
Community amenities at The Quinn include a beautifully appointed clubhouse, a fully equipped fitness center with 24-hour access, a resort-style pool with community grilling areas, fire pits, cabanas, and turf area for outdoor exercise or yard games, pickleball courts, and a dog park with pet spa.
The community is less than one mile east of a Publix Super Market and approximately two miles west of the 9 Mile and Interstate 10 interchange, which provides residents with easy access to downtown Pensacola, and major employers such as Navy Federal Credit Union, Baptist Health Care Campus, Naval Air Station and Pensacola State College.
At the ribbon cutting, visitors were able to tour the model, explore 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 Keep Pensacola Beautiful to aid their efforts in preserving the community of Pensacola. They do this by working strategically with community partners to combine education and preservation with hands-on stewardship at a local level.

BRIGHTON, CO – The Milestone Group announced the acquisition of Solaire Apartments, a 252-unit, market-rate community in the Denver suburb of Brighton, Colorado. The purchase price was not disclosed.
“Solaire is in one of the fastest-growing submarkets in the region and is an excellent strategic fit to our growing portfolio, acquired at an estimated discount to replacement cost in excess of 25% and located in a submarket characterized by limited new supply,” said Milestone Vice President of Acquisitions Rich Ritter. “Milestone assumed the existing agency debt, allowing for a quick transaction without capital markets risk. We will now execute a multi-phase value-add strategy designed to enhance the resident experience and drive both immediate and sustained improvements in property performance.”
Solaire Apartments is sustainably designed and features contemporary one-, two-, and three-bedroom apartments at 1287 S. 8thAvenue in Brighton. The suburban Denver location affords residents easy access to numerous shopping, restaurants, and other amenities while providing easy access to freeways for Denver commuting and an abundance of options for accessing parks and mountain recreation.
Community amenities include a resort-style pool with a lap lane and year-round hot tub and lounge, a Clubroom with a kitchen and business center, a 24-hour fitness center, a dog park, a playground, and inviting native grass areas. The modern residences include faux-wood plank flooring throughout, oversized closets*, private balconies or patios with Trex flooring, exterior storage*, fireplaces*, and washers and dryers in every unit.

NEW ORLEANS, LA – The Menkiti Group, a DC-based, minority-owned real estate firm, announced its recent strategic partnership with VPG to acquire Arbor Place Apartments, a 136-unit multifamily property located in Terrytown, LA. Located just outside of New Orleans, the property marks a significant investment aimed at preserving affordability and furthering both firms’ shared commitment to revitalizing historically underinvested communities.
“We believe that meaningful neighborhood change begins with strong local partners, and we’re honored to work alongside VPG on this impactful project,” said Bo Menkiti, Founder and CEO of The Menkiti Group. “Arbor Place represents the kind of thoughtful investment that aligns with our values—preserving affordability, supporting local leadership, and strengthening communities for the long term.”
Through this partnership, The Menkiti Group is providing joint venture equity financing for the project. The investment was made through The Menkiti Group’s Obsidian Catalyst Fund I, LP – a mission-driven real estate investment fund focused on supporting emerging sponsors and driving inclusive growth in urban communities.
VPG will be leading the project’s operations and long-term asset management strategy. With over 14 years of experience, VPG has built a strong presence in the New Orleans region, owning and managing over 850 apartment units. Arbor Place Apartments will continue to serve local residents with 50% of the 136 units designated as affordable housing at 60% of the Area Median Income.
“This investment represents a meaningful step in providing high quality, accessible and affordable housing options for working families across New Orleans,” said Michael Merideth, CEO of VPG. “We are proud to partner with The Menkiti Group and the Obsidian Catalyst Fund to further our mission of delivering high-quality workforce and affordable housing that supports long-term community stability.”

DALLAS, TX – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the opening of a 324-unit, mixed-income housing community in Dallas, Texas. Ascent at Mountain Creek is just 15 minutes outside of downtown Dallas, with 50% of the units reserved for individuals and families earning 80% or less than the Area Median Income (AMI).
Located at the intersection of Highway 408 and I-20, Ascent at Mountain Creek offers scenic views of rolling hills and considerable green space and is less than 10 miles from Mountain Creek Lake. The community is also in close proximity to the 450-acre Mountain Creek Business Park, home to companies such as Nestlé, Ulta Beauty and Chewy. Everyday conveniences such as Target, Home Depot and the Methodist Charlton Medical Center are just a 10-minute drive away, along with recreational venues such as Epic Waters Waterpark and Grand Oaks Golf Club. Residents will also have access to ample retail and dining options, as well as major employment hubs in downtown Dallas.
As Dallas-Fort Worth s affordability crisis deepens, Ascent at Mountain Creek provides much-needed housing at a mix of income levels for essential workers, from teachers and nurses, to first responders and public transit operators, said Alena Savera, Vice President of Development at The NRP Group. We re grateful for the partnership and collaboration of the city, which has allowed us to deliver a community that meets the diverse needs of Dallas renters and enhances resident quality of life.
The newly delivered community at 4868 S. Merrifield Road comprises 14 three-story, wood-frame buildings offering a mix of one-, two- and three-bedroom apartments. To meet resident demand for larger units that accommodate work-from-home preferences, den floor plans for one- and two-bedroom units are also available. In-unit features include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Residents can enjoy a variety of community amenities, including a resort-style pool, dog park, state-of-the-art fitness center with a spin room and clubhouse lounge.
There is a pressing need for mixed-income housing in the metroplex, where rising costs are making it harder for residents to find affordable homes, said Keith Pomykal, District 14 Dallas PFC Board Member. Working with The NRP Group has allowed us to deliver the quality and attainable housing our community needs.
The Dallas metro area remains a priority market for The NRP Group. The firm has developed over 6,700 units across 30 properties in the region, and recently broke ground on new affordable housing developments Thrive on Crawford in Fort Worth and The Fielder in Mesquite.