FRISCO, TX – Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, in partnership with Pondmoon Capital, announced the opening of Mirra, a five-story, 285-unit luxury apartment community located in the heart of Frisco Square near Dallas, Texas. Mirra offers a refined living experience with thoughtfully designed residences and an array of upscale amenities. Construction began in January 2023 and the community recently commenced the move-in of its first residents.
We are thrilled to welcome our first residents at Mirra in the vibrant community of Frisco, said John McCullough, President of Toll Brothers Apartment Living. Mirra was designed to provide residents with a sophisticated, connected, and comfortable community, reflecting our commitment to developing residences that deliver the quality and elevated lifestyle that today s renters expect.
Mirra features a mix of studio, one-bedroom, and two-bedroom apartment homes, each crafted with high-end finishes and modern conveniences. Residents enjoy granite countertops with tile backsplashes, stainless steel appliances, designer lighting, oversized closets with built-in shelving, and smart home technology, including keyless entry and smart thermostats. Select residences offer kitchen islands, double bathroom vanities, glass-enclosed showers, and private balconies or patios, providing an ideal space for relaxation and elevated comfort.
The community boasts an impressive suite of amenities designed to help residents balance life-on-the-go with relaxation. These include a resort-style pool with lounge seating and firepit, a two-story fitness center with a yoga and spin studio featuring Peloton® equipment, a clubroom with entertainment bar, a game lounge with billiards, and multiple coworking spaces with conference rooms. Additional amenities include a pet spa, bike storage, a social mailroom, and a covered parking garage with reserved parking and EV charging stations.
Mirra represents our dedication to creating communities that offer both luxury and a sense of belonging, said Tommy Rhodus, Managing Director of Toll Brothers Apartment Living in the Central region. The community s prime location in Frisco Square provides residents with unparalleled access to shopping, dining, entertainment, and major employment centers.
Located at 8320 Church Street, Mirra is situated in Frisco Square, offering easy access to dining, specialty stops, and a variety of local attractions, including Toyota Stadium, the National Soccer Hall of Fame, the Frisco Rail District, Kaleidoscope Park, Stonebriar Centre, and the Frisco Public Library. The community is also conveniently located near major thoroughfares, providing easy connectivity to the Dallas North Tollway, Legacy Business Park, The Star, and the new PGA of America headquarters.

SEATTLE, WA – Global real estate investment company Kennedy Wilson has partnered with Kenedix, Inc. and Hulic Co., Ltd. to acquire The Danforth in Seattle for $173 million. The 265-unit multifamily community with Whole Foods as the sole ground-floor tenant builds on Kennedy Wilson s significant multifamily presence in the Pacific Northwest that totals more than 13,000 market rate and affordable apartment units.
Given our 30-year history in Japan, we are proud to continue the growth of our investment management platform alongside these two prestigious companies that are aligned with our investment strategy and our focus on delivering quality housing within growing Pacific Northwest markets, said William McMorrow, Chairman and CEO of Kennedy Wilson. The Danforth provides an opportunity to acquire a recently built community at a discount to replacement cost within an area experiencing limited new construction and strong absorption due to recent return-to-office initiatives from leading technology employers.
We appreciate the opportunity to participate in this joint investment. With continued population growth and the potential for attractive returns, we are strengthening our initiatives in the U.S. real estate market, said Hikaru Teramoto, Representative Director, President & COO at Kenedix, Inc.
We are pleased to have our first JV investment with Kennedy Wilson and Kenedix. We are currently increasing international investment with partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria, said Sohei Okuno, General Manager, Global Investment Department at Hulic Co., Ltd.
The Danforth, a 16-story tower constructed in 2018, features 1- , 2-, and 3-bedroom layouts and access to Seattle s newest Whole Foods Market on the ground floor. The community offers expansive amenities including a Studio Fit fitness center, rooftop solarium and dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen, and a BBQ patio with multiple grills.
Located at the intersection of Seattle s First Hill and Capitol Hill neighborhoods, The Danforth is adjacent to the city s best restaurants, nightlife, and largest employers. It is also positioned within Seattle s largest hospital network, with a $1.3 billion expansion project set for completion by 2027 that will support a highly educated and well-compensated resident base.
Kennedy Wilson has a 10% interest, investing $6.6 million of equity in the core plus joint venture, and will serve as asset manager for the partnership and will earn customary fees.

SEATTLE, WA – Fourth Avenue Capital and Range Equity Management, in a joint venture with PCCP, have acquired 2121 Belmont, a stabilized Class-A multifamily property located in the Buckman neighborhood of Portland, Oregon. With this acquisition, Fourth Avenue Capital now owns 25 assets across its portfolio, including six other properties in the Portland MSA.
Originally built in 2008 as condominium units, 2121 Belmont is comprised of 123 oversized apartment units averaging approximately 981 square feet. The property offers high-end interior finishes including real hardwood floors, gas ranges, stainless steel appliances, and central heating and air conditioning. Despite its boutique scale, the property features concrete and steel Type I construction, delivering a distinct resident experience highlighted by a 1:1 parking ratio. Amenities include a fitness center, onsite leasing office, dog wash station, and bike storage.
“We targeted this asset because of its differentiated product type — Type I construction, large unit sizes, and dedicated parking for every residence,” said Davis Vaughn, Managing Partner at Fourth Avenue Capital. “We believe the opportunity to acquire this level of quality at approximately half of replacement cost, combined with its unique features, will yield a durable competitive advantage and create outsized value for our investors.”
Strategically located in Portland’s Buckman neighborhood, 2121 Belmont sits at the heart of the city’s rapidly developing Central Eastside. Its position on Belmont Street provides residents with excellent access to downtown and walkability to urban amenities including dining, nightlife, and public parks.
“We are excited about this acquisition given the unique attributes of the asset and cyclical recovery of the market. We look forward to executing our value-add business plan in conjunction with our partners at FAC and PCCP,” said Andrew Gindy, Managing Partner at Range Equity Management.

WALDORF, MD – North Bethesda, Maryland-based CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $6 billion of multifamily assets in the U.S., announced it has acquired two apartment communities in Charles County featuring a combined 360 homes.
The workforce-housing communities, Palmer Apartments and Smallwood Gardens, are adjacent to one another, just south of St. Charles Parkway in south Waldorf. CAPREIT is set to undertake a series of capital improvements on the properties, designed to elevate them to a premier choice for the discerning modern workforce renter.
“As a leading workforce and affordable housing provider, we are always aiming to grow our portfolio in stable markets,” said Andrew Kadish, CEO of CAPREIT. “We’re excited to expand to Waldorf with the acquisition of these two communities, which are right in the backyard of our company headquarters. With a large footprint and vast institutional knowledge of the greater Mid-Atlantic market—which is our largest market with multiple regional headquarters—we viewed this as a prime opportunity with an abundance of upside. We look forward to getting started on the capital improvement process.”
CAPREIT has dedicated $5 million toward upgrades, which will include a significant refresh of building exteriors, amenities, common areas, landscaping and additional community enhancements. Home interior renovations are also planned to help elevate the spaces to modern standards. Additionally, CAPREIT plans to implement energy-saving measures that have the potential to reduce utility costs by up to 25%.
Palmer Apartments, located at 3008 Pilgrims Square, was originally built in 1980 and features 152 one- and two-bedroom homes. Smallwood Gardens (formerly Smallwood Gardens at Village Center of St. Charles) is positioned at 2640 Hamilton Place. Originally built in 1976, the two-story community features 208 one-, two- and three-bedroom homes.
Each property features a swimming pool, playground, laundry facility and onsite maintenance. Apartment interiors include fully equipped kitchens, large walk-in closets, air conditioning and in-home climate control. Select homes feature private patios or balconies.
The properties sit across from Smallwood Village Center, a 173,000 square-foot shopping center, and within walking distance of a stop on the VanGO bus line. The St. Charles neighborhood is located approximately 22 miles south of Washington, D.C., making it a popular option for those who commute to the key employment centers in the city.
“Waldorf is a stable but improving location, and we’re delighted to join the St. Charles neighborhood,” said Stephen Catarinella, chief investment officer for CAPREIT. “We believe that there is significant operational upside with these communities that we can unlock through an infusion of capital improvements and our resident-centric approach to property management.”
To enhance the resident experience, CAPREIT plans to employ its systematic program of surveying residents at key points within the leasing process to evaluate guest and resident sentiment regarding the property’s maintenance, amenities, safety, response time and overall value.

HOUSTON, TX – Hanover Company has closed its Hanover Opportunities Fund (HOF) at $125 million in capital commitments and is actively acquiring land and underutilized commercial properties, such as vacant buildings and distressed office assets, for redevelopment into multifamily or industrial projects. HOF can close acquisitions quickly, with or without entitlements in place, and offers flexible deal structures to accommodate sellers.
For site owners, lenders, and intermediaries, HOF can offer quick-close, all-cash solutions with a trusted development sponsor, said Brandt Bowden, CEO of Hanover.
Rather than acquiring stabilized assets, HOF targets early-stage opportunities that can be executed through Hanover s vertically integrated development platform.
Today s real estate environment is seeing a massive demographic shift and accelerated obsolescence in office, all against a backdrop of capital scarcity, Bowden added. HOF is built to take on the risk to reposition assets, while providing immediate liquidity to sellers—often before entitlements are in place.
Led by Bowden and Hanover Managing Director Drew Willson, the fund was created to address capital dislocation and the growing need for pre-development risk capital.
HOF has already made three acquisitions: an industrial development site in York, Pennsylvania, and two multifamily development sites in San Jose, California.
With its capital base in place, HOF is actively pursuing acquisitions across Hanover s national footprint, which includes Sun Belt, West Coast, Northeast, and Mid-Atlantic markets.

ARVADA, CO – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a groundbreaking ceremony at the future site of Marshall Pointe Apartments, a four-story, 260-unit affordable housing community in Arvada, Colorado expected to begin leasing in September 2026.
“We are proud to commence work today on LAC’s second ground-up development in the Denver metro area,” said Ben Taylor, LAC vice president and project partner. “Marshall Pointe will provide high-quality, affordable housing for families in one of Colorado’s fastest-growing communities.”
Comprised of mostly one- and two-bedroom units, Marshall Pointe will lease its units to residents earning between 30% and 70% of the Area Median Income (AMI). Communal amenities will include two courtyards: one for adults featuring a covered dining area, hammock grove, flex lawn space, and lush landscaping; and one for children including a climbing wall, playground, movie wall, and garden. Additional indoor amenities include a fitness center, game room, package and mail rooms, and a lounge with a kitchenette. All units will be equipped with stainless steel Energy Star appliances, balconies, walk-in closets, linen closets, and hard-surface countertops.
LAC is partnering with Family Tree, a non-profit human services agency in the Denver Metro Area, to offer full-time permanent supportive housing (PSH) at the site for all 13 units at the property, including eight that will have Project-Based Housing Choice Vouchers from the Arvada Housing Authority (AHA). As a result of the partnership with LAC, residents at Family Tree’s nearby under development supportive housing property will have the opportunity to move to Marshall Pointe when ready, creating a Corridor of Housing Advancement between the sites and supporting long-term residency in the area.
The project was financed in partnership with AHA and the Colorado Housing and Finance Authority (CHFA), which provided Federal and Colorado State Tax Credits, along with the permanent financing. Additionally, the Colorado Department of Local Affairs provided $5 million of bridge funding for the land acquisition through their Operation Turn Key program, which allowed LAC to acquire the land 18 months ahead of the construction finance closing. Additional partners include the National Equity Fund (NEF) and JP Morgan Chase.

SARASOTA, FL – Wolfson BTR, Florida s first large-scale Build-to-Rent (BTR) developer, announced it has officially broken ground on Symphony Lakes, a fully-amenitized 274-unit Build-to-Rent community located strategically between the Sarasota / Bradenton and Tampa / St. Petersburg metropolitan areas.
Spread across approximately 50 acres, Symphony Lakes is a two-phase development featuring 3- and 4-bedroom townhomes and 4-bedroom detached single-family homes, each with private backyards and attached garages. Phase I will deliver 220 townhomes and 18 single-family homes, while Phase II will bring an additional 54 townhomes to the community.
The project will offer a full suite of lifestyle amenities, including a resident clubhouse, fitness center, resort-style pool, playground, meeting spaces, and extensive dog-walking and running trails—all designed to meet the evolving needs of today s renters who seek more space, privacy, and a higher standard of living.
Symphony Lakes represents our continued commitment to bringing thoughtful, community-driven Build-to-Rent projects to markets that desperately need quality housing options, said Adam Wolfson, CEO and Founder at Wolfson BTR. We are focused on delivering homes and communities that provide a bridge for those who are not yet ready for homeownership but seek a living experience beyond that of traditional multifamily apartments inclusive of more space, privacy, and community connection
Site work formally began in October 2024, with vertical construction scheduled to commence in August 2025. The first units are expected to be delivered beginning in early 2026.
Situated within a three-minute drive of I-275, Symphony Lakes offers residents easy connectivity to major employment hubs, retail, dining, and coastal amenities in both the Tampa Bay and Sarasota regions.

NORFOLK, VA – The Port at East Beach, a premier waterfront multifamily community, has successfully completed its initial lease-up in less than eight months, exceeding expectations despite construction delays. Professionally managed and leased by Drucker + Falk, this achievement underscores the team’s ability to navigate challenges in a highly competitive market.
This newly constructed apartment community offers a sophisticated living experience with one-, two-, and three-bedroom floor plans featuring high-end apartment interior finishes and stunning water views. Residents enjoy exceptional amenities including a resort-style pool, convenient grilling areas, and inviting lounge spaces with amazing water vistas.
The resident clubhouse provides a perfect gathering spot, complemented by a convenient parking garage, smart apartment locks for modern living, and a secure package room. Adding to its unique appeal, the community features the newly renovated The Port at East Beach Marina, offering over 100 wet docking slips up to 60 feet in length that start at $270 per month. The onsite restaurant, Longboards, further enhances the vibrant lifestyle available right at home to this distinctive community’s residents.
Deidre Brown, Director of Multifamily Management at Drucker + Falk, shared, “I am thrilled that DF could complete this record-breaking lease-up in a highly competitive market, all while providing outstanding customer service. This is just another example of our ability to successfully lease-up a Class A Multifamily project with owners’ goals at the forefront of everything we do.”
The rapid lease-up of The Port at East Beach further solidifies Drucker + Falk’s reputation as a leader in multifamily property management, consistently delivering results and creating exceptional communities.

LAC DU FLAMBEAU, WI – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a grand opening ceremony for Forest Edge Apartments, a 40-unit, townhouse-style affordable housing development in Lac du Flambeau.
“We are proud to partner with Cinnaire Solutions and Wisconsin Management Company to bring high-quality, affordable housing to the heart of the Wisconsin Northwoods,” said Kevin McDonell, LAC Vice President and Regional Project Partner. “Forest Edge Apartments will support the local economy by giving workers and families a place to call home.”
Forest Edge Apartments features a mix of two- and three-bedroom homes with energy-efficient appliances, large closets, and complimentary internet packages for residents. The majority of units will be leased to those earning between 30 and 60% of the area median income (AMI), with 8 units reserved for residents with disabilities via Section 811 Housing Vouchers. Communal amenities include a fitness center, community room, business and meeting center, and a parcel room for package delivery. A significant portion of the property’s energy consumption will be offset by solar panels installed on each building.
The development was made possible through a partnership between LAC, Cinnaire Solutions, Quasar Development Group, and Wisconsin Management Company (WMC), with financing assistance from the Wisconsin Housing and Economic Development Authority (WHEDA), the Federal Home Loan Bank of Chicago, the Wisconsin Department of Administration, Cinnaire Lending, the Couillard Solar Foundation, Focus on Energy, and an Energy Innovation Grant.

ANNA, TX – Bridge Tower marked a major milestone with the grand opening of the Amenity Center at The Reserve at Arden Park, officially welcoming residents, partners, and city officials to the new construction Build-to-Rent community.
Located in the heart of Anna, a city rapidly emerging as a residential hotspot just north of McKinney, the 142-home development introduces a new standard of luxury rental living. The community blends the privacy and space of single-family homes and townhomes with resort-style amenities designed for modern lifestyles.
Now open to residents, the Amenity Center features a resort-style pool, indoor/outdoor yoga space, grilling stations, a full gym, a multi-purpose room, pool table, covered patio, and a playground. It also connects directly to the scenic Natural Springs Park trail, offering an active lifestyle and seamless access to nature.
“This isn’t just another housing development—it’s a community designed to meet the expectations of today’s renters,” said West Rathbun, Director of Property Operations at Bridge Tower. “We’ve created a place where people can thrive—where elevated design, comfort, and convenience come together.”
The grand opening event drew support from local real estate professionals, investment partners, and representatives from the AnnaChamber of Commerce, who participated in the official ribbon cutting ceremony.
Arden Park is the latest addition to Bridge Tower’s growing portfolio and reflects broader trends in the housing market, where high-quality rental homes are in increasing demand among families, young professionals, and relocating homeowners.
“Anna is growing quickly, and with that growth comes a need for housing options that deliver both quality and flexibility,” said Rathbun. “We’re excited to help meet that need and invest in a city that continues to show so much promise.”