DENTON, TX – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, in partnership with the Denton Housing Authority, announced the financial closing and groundbreaking of Arbor Ranch, a 297-unit affordable housing community in Denton, Texas. The development will provide deeply affordable homes to families earning between 30% and 70% of the Area Median Income (AMI), expanding access to attainable housing in the rapidly growing Denton submarket.
“This groundbreaking is a testament to the strong collaboration of our public and private sector partners who are all deeply committed to increasing available high-quality, affordable housing for the residents of Denton, said Nick Walsh, Vice President of Development at The NRP Group. We are building on our previous work in the community with the development of Arbor Ranch, our most modern, Class-A affordable product to date, placing residents close to employment centers, education and everyday amenities in one of the city s most strategic locations.
Located at 2820 Roselawn Drive just off Interstate 35, Arbor Ranch places residents within walking distance of Denia Park and its recreation center and the newly rebuilt Borman Elementary School. The development is also within short driving distance to downtown Denton, the University of North Texas and Texas Woman s University. The property is approximately 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas, connecting residents to the broader Dallas-Fort Worth employment base. Nearby, the Eagle Creek master-planned residential community is taking shape, adding to the area s growing residential infrastructure.
As Denton continues to experience rapid growth, ensuring that we have diverse and attainable housing options at a range of income levels is critical to sustaining our economic momentum, said Sherri McDade, CEO of the Denton Housing Authority. By expanding housing availability near key employment hubs, we re ensuring that Denton remains a competitive and thriving community for years to come.
Designed to accommodate both working professionals and growing families, the development will feature a mix of one- through four-bedroom residences across nine three-story buildings on a 22-acre site. Residents of Arbor Ranch will have access to a full suite of amenities, including an outdoor pool, playground, barbecue and picnic areas, children s activity room and community lounge. Onsite resident services, including after-school programming, will be provided to support families and promote long-term stability.
Truist Bank provided comprehensive financing for the project, including a $68 million construction loan, $48 million in permanent financing through its wholly owned subsidiary, Grandbridge Real Estate Capital, and a $33 million low-income housing tax credit equity investment. The permanent financing was secured through a forward rate lock under Freddie Mac s Tax-Exempt Loan program, providing long-term rate stability for the project.
Complex transactions like this require clear execution and tight coordination between our clients and our internal teams, said Kathy Farrell, Head of Truist Asset Finance. Securing financing certainty early was a critical step in positioning the development for long-term success. We re proud to help bring high-quality, affordable housing to this growing part of North Texas.”
The Dallas-Fort Worth metro area remains a priority market for The NRP Group. The firm has developed nearly 7,000 units across more than 30 properties in the region, and recently celebrated the grand opening of Thrive on Crawford, an affordable housing community that opened in January.
Construction of Arbor Ranch is now underway with first units anticipated in early 2027.

SEATTLE, WA – Fourth Avenue Capital (FAC) announced the acquisition of Spring Woods, a 174-unit Class A apartment community in Salem, Oregon, and Silver Star, a 72-unit Class A community in Kalispell, Montana. These acquisitions expand FAC’s portfolio to 30 properties.
Spring Woods – Salem, Oregon: Completed in May 2025, Spring Woods consists of 174 apartment homes across 10 residential buildings and a dedicated leasing office situated on 6.98 acres. The community offers a balanced mix of one-, two-, and three-bedroom floor plans ranging from 640 to 1,215 square feet, with an average unit size of 1,001 square feet. Each residence includes an in-unit washer and dryer and air conditioning.
Interior finishes reflect high-end Class A new construction standards in the local market, featuring quartz countertops, modern cabinetry, vinyl plank flooring, stainless steel appliances, and private patios or decks. Community amenities include a leasing office, dog run, and children’s playground, providing a well-rounded living environment for residents.
From 2023 to 2024, Salem ranked as the second-fastest-growing metro in Oregon for job growth, trailing only Bend. As the state capital, Salem benefits from a stable government employment base of more than 20,000 positions, providing insulation from economic volatility. This foundation is further supported by major private-sector employers in healthcare, led by Salem Health, as well as prominent educational institutions including Willamette University and Chemeketa Community College, which together enroll more than 10,000 students within five miles of Spring Woods.
Silver Star – Kalispell, Montana: Completed in 2024, Silver Star is a 72-unit apartment community comprised of 18 residential buildings situated on 5.72 acres. All units feature three-bedroom, two-bathroom layouts averaging 1,205 square feet, representing some of the largest floor plans in the Kalispell market. Each residence includes an in-unit washer and dryer, air conditioning, nine-foot ceilings, and vaulted living rooms in second-floor units.
Interior finishes are top-of-market for Kalispell and include quartz countertops, stainless steel appliances, hardwood cabinetry, large kitchen islands, private patios and decks, gas ranges, gas fireplaces, and vinyl plank flooring. The oversized layouts and high-quality finishes appeal to residents seeking more space and functionality than typically available in conventional apartment communities.
Kalispell serves as the primary city in Flathead County, one of the fastest-growing regions in the United States. From 2020 to 2023, population growth averaged 3.2% annually, far exceeding the national average, and is projected to remain more than four times above the national average growth rate in the coming years.
“Both of these acquisitions align with a core thesis we have of acquiring newly constructed assets below replacement cost in high-growth markets,” said Davis Vaughn, Managing Partner at Fourth Avenue Capital. “With limited future supply and larger-than-average floor plans, we believe these properties are well-positioned to achieve outsized rent growth over the long term.”

BROOMFIELD, CO – Fairfield, a nationwide developer and property manager, announced the grand opening of Rowlen Apartments, a newly constructed 297-apartment residential community located at 1151 Spring Place in Broomfield, Colorado.
Offering studio, one-, two-, and three-bedroom apartment homes, including 70 income-aligned residences, Rowlen includes an amenity-rich living experience in one of the most desirable and fastest-growing cities along Colorado s Front Range. Broomfield is currently ranked in the top spot on Livability.com s Top 25 Best Places to Live Out West.
Rowlen represents Fairfield s continued focus on developing thoughtfully designed communities in highly livable, growth-oriented markets like Broomfield, which is consistently recognized as one of the top places to live, said Jacob Lorson, Development Associate. Located near I-25, Highway 7, and E-470, this community offers strong regional connectivity along with an easy commute to both Denver International Airport and the Broomfield Regional Airport.
Designed with modern mountain architecture and a garden-style layout, Rowlen creates a sense of community through its robust design and amenity offerings, including a four-season pool, pet spa with built-in wash, outdoor gear storage, tinker space, direct-access garages, and Level 2 EV chargers. Inside the apartment homes, residents will find stainless steel kitchen appliances, quartz countertops, flexible layouts, and refined touches that reflect Fairfield s commitment to high-quality design.
Sustainability is integrated throughout the community, highlighted by an on-site solar power system atop the clubhouse and leasing building, Lorson added. Additionally, Fairfield is constructing and dedicating nearly six acres of publicly accessible park space that will include a pedestrian path, basketball court, and open areas that enhance long-term value for residents and the broader community.

TAMPA, FL – Ram Realty Advisors, a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast, announced the acquisition of Beacon 430, a 327-unit apartment community located in Downtown St. Petersburg, Florida (Tampa MSA). The property was acquired by an affiliate of Ram Realty Partners VII.
The acquisition reflects Ram s strategy of investing in well-located multifamily assets within infill urban markets where development constraints limit new supply. Developed in 2014, Beacon is a four-story, elevator-served residential community situated on a 4.3-acre site spanning two city blocks in the heart of Downtown St. Pete. The property provides a low-rise residential alternative with extensive outdoor amenities in a submarket where limited site availability and rising land costs increasingly favor high-rise development.
Downtown St. Pete has emerged as one of Florida s most vibrant urban submarkets, supported by strong population growth, a diversified employment base, and a highly walkable waterfront environment. The property is within walking distance of several of the area s largest employers, including Johns Hopkins All Children s Hospital, Orlando Health Bayfront Hospital, and the University of South Florida St. Petersburg campus, as well as the Central Avenue retail and entertainment district and the city s waterfront cultural attractions.
Ram plans to implement a targeted value-add program focused on operational enhancements, common area and amenity improvements, and select unit interior upgrades designed to further position the property within the market.
Beacon stood out to us because of its scale, location, and ability to offer a different residential experience than much of the new product in Downtown St. Pete, said Nate Wilson, Vice President of Multifamily Investments at Ram. We believe targeted operational improvements and selective upgrades will further strengthen the property s position within the market.
The Tampa Bay area has been a primary market for Ram for more than two decades, said Casey Cummings, Chief Executive Officer of Ram. We have been investing in this market since 2000 and continue to see strong long-term fundamentals in Downtown St. Pete. Beacon represents another opportunity to expand our footprint in a market we know well.

DALLAS, TX – After a highly competitive and complex process, Clover Capital Partners announced the successful acquisition of our newest assets: Creekstone and Gable Point Apartment Communities. Located in East Dallas adjacent to the Dallas Athletic Club, this well-positioned two-property portfolio represents a compelling value-add opportunity with 374 units across a mix of one- and two-bedroom floor plans.
Developed and owned by the Pardue family since the 1980s, the properties provide Clover with an attractive basis well below both current replacement cost and prevailing market pricing, creating a strong foundation for long-term value creation.
Creekstone and Gable Point benefit from their proximity to major employment centers, established retail corridors, and key recreational amenities throughout East Dallas. The properties offer residents convenient access to major thoroughfares, neighborhood retail, and outdoor amenities, while sitting within a submarket that continues to experience strong demand for attainable workforce housing.
The Dallas-Fort Worth metroplex remains one of the strongest growth markets in the country, supported by sustained job creation, population growth, and long-term housing demand. Within that backdrop, Clover believes Creekstone and Gable Point are well-positioned to benefit from operational improvements, strategic capital investment, and continued submarket growth.
We are incredibly grateful for the continued confidence and support of our investor partners, whose commitment makes opportunities like this possible. We would also like to extend a special thank you to Institutional Property Advisors (IPA) for their partnership and execution in bringing this transaction to the finish line.
We would also like to recognize our legal counsel, Platt Richmond, for their diligence and hard work throughout this transaction. Their guidance, responsiveness, and attention to detail were critical in navigating the legal complexities of the acquisition and helping ensure a smooth closing process.
“This acquisition represents another meaningful step forward for our firm. Clover looks forward to executing our business plan, enhancing the resident experience, and creating long-term value for our investors while maintaining a disciplined approach to risk,” says Co-Founder Bryan Harlan.

SAN DIEGO, CA – Eagle Partners, a vertically integrated multifamily investment manager and operator focused on attainable housing, announced the closing of a $162.5-million affordable housing preservation portfolio acquisition of The Hendrix Apartments and The Hadley Apartments (“the Portfolio”) located in Escondido, California.
The Portfolio consists of two adjacent communities totaling 551-units of one- and two- bedroom residences serving the senior demographic (55+) in North San Diego County. Through this acquisition, Eagle will implement a long-term affordable preservation strategy while executing a targeted capital improvement program designed to enhance the resident experience.
Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority (CSCDA), and Affordable Housing Access to execute on the transaction.
“This transaction represents a meaningful milestone in the continued scaling of our attainable housing platform and speaks to our ability to source institutional quality opportunities on an off-market basis” said Taylor Friend, Managing Partner of Eagle Partners. “We are proud to expand our presence in San Diego County and to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship.”
In November 2025, Eagle, Red Stone Equity Partners, and JPMorgan Chase acquired the 350-unit Hills at Hacienda Heights in Los Angeles County for $107 million. The Escondido acquisition represents Eagle’s second preservation transaction and further establishes the firm’s footprint in Southern California.

PAPILLION, NE – Cavan Companies has closed on land for The Bungalows at Prairie Hills, a planned 154-home single-story Build-to-Rent (BTR) community in Papillion, Nebraska. The project represents the company’s third development in the Omaha metropolitan area, expanding Cavan’s Midwest platform in a market where demand for single-family rental housing continues to outpace supply.
Horizontal construction is expected to begin in May 2026 on approximately 16 acres at the southwest corner of Highway 370 and South 114th Street, a corridor providing direct access to Interstate 80, Offutt Air Force Base, and major employment centers throughout the Omaha metro. The site is also located near Shadow Lake Towne Center, placing the community within an established residential and commercial node.
When complete, The Bungalows at Prairie Hills will feature 154 detached rental homes with one-, two-, and three-bedroom floorplans ranging from approximately 683 to 1,389 square feet. The community will include 104 detached garages, a clubhouse, fitness center, and shared amenities designed to provide residents with the space and privacy of a detached home while maintaining the flexibility of rental living.
The Prairie Hills development follows two Cavan communities in Omaha that are now entering lease-up. Phase 1 homes at The Bungalows at Whitehawk Lake in West Omaha will begin leasing and move-ins on April 1, 2026, followed by Phase 1 homes at The Bungalows on Honeysuckle in Elkhorn on April 15, 2026.
Together, the three communities represent one of the largest single-developer Build-to-Rent platforms currently underway in the Omaha metropolitan area.
“We’re seeing strong demand for housing that sits between traditional apartments and homeownership,” said Norm Miller, Chief Executive Officer of Cavan Companies. “Markets like Omaha are ideal for single-story Build-to-Rent communities because residents want the space and privacy of a home without the barriers of ownership.”
The Omaha metropolitan area has surpassed one million residents, supported by employment anchors including Berkshire Hathaway, Union Pacific, Mutual of Omaha, CHI Health, Nebraska Medicine, and Offutt Air Force Base. Sarpy County has emerged as one of the region’s fastest-growing areas, driven by infrastructure investment, strong schools, and continued suburban household formation.
As housing costs rise nationally, more households are seeking options that provide the space and privacy of a home without the financial commitment of ownership.
“Build-to-Rent communities help address that gap,” Miller said. “They offer the lifestyle of a detached home while maintaining the flexibility of renting.”
Cavan Companies have more than 50 years of real estate development experience and has focused on the Build-to-Rent sector since 2016 through The Bungalows delivering single-story rental communities designed around private yards, neighborhood-style layouts, and modern amenities.

DENVER, CO – Century Communities (NYSE: CCS), a top national homebuilder, industry leader in online home sales, and featured on America’s Most Trustworthy Companies and World’s Most Trustworthy Companies by Newsweek, announced that Century Living, the Company’s multi-family arm, acquired a shovel-ready development site at 33rd Avenue and Mariposa Street in Denver’s sought-after LoHi neighborhood from development firm Elevation Development Group.
Going forward, Century Living will serve as the developer and general contractor on the project—named The Stevie—with groundbreaking this week and units expected to deliver for leasing in 2028.
Elevation began the permitting process for the luxury apartment community in 2021, which enabled the deal with Century Living to come complete with land, architectural and engineering plans, and all entitlements and permits.
“This is a unique opportunity to deliver brand-new, high-quality housing to one of Denver’s most valued neighborhoods,” said Jim Francescon, an executive at Century Communities. “With premium amenities and luxury units, The Stevie will provide an elevated quality of living with immediate access to everything LoHi and surrounding neighborhoods have to offer.”
Additional Project Details: Five-story building; 116-unit, luxury boutique apartment community (including select loft units); Amenities will include a pool, sun deck, fitness center, and resident lounges; First-level garage plus underground parking; Walking distance to notable restaurants, shops, and parks; and Quick access to I-25 and Union Station.
Century Communities is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S.

PHOENIX, AZ – TerraCap Management LLC, a privately held investment firm with its headquarters in Naples, FL, announced today the acquisition of Tresa at Arrowhead Apartments, a 1998-built, 360-unit apartment complex located in the Arrowhead Ranch submarket of Phoenix, AZ.
“Tresa’s purchase profile is consistent with our deep value strategy going forward. We are excited about continuing to position our investors with assets that have defensive purchase prices, especially in growth markets in Arizona near areas with plenty of amenities and opportunities for higher wage tech jobs,” said Steve Hagenbuckle, TerraCap’s Founder and Managing Partner.
Tresa at Arrowhead features one, two, and three-bedroom units with various levels of unit interior renovations, leaving room for further upgrades to enhance the tenants’ living experiences. Amenities at the property include swimming pools, grilling stations, a game room, gated parking, a dog park, a fitness center, and a dry sauna.
Tresa at Arrowhead boasts a low-density environment in a highly infill neighborhood, as the property is centrally located in Phoenix’s Arrowhead Ranch submarket and sits on 19 acres with lakeside walking trails. The property is adjacent to the Loop 101 freeway with convenient access to the new TSMC semiconductor plant, higher-wage employment in North Scottsdale and the Westgate Entertainment District.
“This acquisition aligns with our strategy of investing in well-located multifamily assets at a meaningful discount to today’s replacement cost. At Tresa at Arrowhead, value creation is driven by proven renovation premiums at the property and across the surrounding competitive set. The asset’s scale and supply-constrained location provide additional downside protection, and we believe these factors should drive attractive risk-adjusted returns over the hold period,” added Baron Davis, TerraCap’s National Director of Acquisitions.

NASHVILLE, TN – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced that it has sponsored the purchase of City Limits, a 254-unit garden-style community situated between the Middle Tennessee towns of Columbia and Spring Hill in the southern Nashville metro area.
Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the community, which is located on 16 landscaped acres approximately seven miles north of Columbia’s downtown district and four miles southwest of Spring Hill.
“We are pleased to expand our presence in the Nashville MSA with the acquisition of our third property in the Spring Hill/Maury County submarket,” said David Nelson, president and chief investment officer at Hamilton Zanze. “The area has experienced substantial growth over the past 15 years and is well positioned to benefit from continued population growth across the broader Nashville region. The asset’s proximity to major employers—including GM’s largest North American manufacturing plant and Maury Regional Medical Center—along with its strong construction quality and affluent local demographics made it a compelling addition to our portfolio.”
Situated at 2513 Nashville Highway, City Limits features one-, two- and three-bedroom homes ranging from 779 to 1,458 square feet. Built in 2022, the three-story community provides near-direct connectivity to the small-town charm contained within Columbia and Spring Hill, including boutique shops, historical sites and a variety of dining options. Additionally, Nashville and its vast array of entertainment options are within a 40-minute drive of the community.
Community amenities at City Limits include a resort-style swimming pool, grilling station, resident clubhouse, conference room, recreation room, onsite pet park and pet spa, playground, putting green, sand volleyball court and a state-of-the-art fitness center. The gated community also offers carport and garage parking options.
Homes feature custom cabinetry, wood-inspired plank flooring, quartz countertops, pendant lighting, upgraded plumbing fixtures, oversized primary bedrooms, spacious walk-in closets, in-home washers and dryers, ceiling fans, air conditioning, garden bathtubs and private patios or balconies.