IRVINE, CA – The Bascom Group has acquired Highridge Apartments, an irreplaceable 257-unit value-add apartment community in the highly desirable coastal community of Ranchos Palos Verdes, California. The purchase price was $127,000,000 or $494,163 per unit. Annie Rice and Jamie Kline of JLL Capital Markets arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The JLL Investment Sales team led by Blake Rogers and Kevin Sheehan represented the seller. AMC will provide property management services for the community and SD-Cap will manage the planned property renovations.
Highridge Apartments is an institutionally owned, 1972-vintage property that has undergone significant upgrades over the years, including new in-unit washers and dryers and enhanced amenities. Residents at Highridge Apartments enjoy a home-like living experience uncommon in the South Bay rental market. The spacious units average 1,157 square feet—21% larger than the submarket average—and include 28 loft-style residences with soaring ceilings. The community boasts an attractive unit mix, ample parking, and numerous amenities, including two pools and spas, two fitness centers, a tennis court, and a clubhouse. Located along Highridge Road, the community is just minutes from stunning ocean views and premier shopping and dining.
Bascom plans to further elevate the property by renovating unit interiors to a Class “A” standard and enhancing amenities to create a more resort-style living experience. Julie Schoenbachler, Senior Vice President of Operations for Bascom, states, “Our focus is on making smart, strategic upgrades that will improve the resident experience while increasing the property’s long-term value. With these targeted improvements, we are ensuring Highridge remains a top choice for residents who want space, convenience, and a modernized community.”
Highridge Apartments stands apart as one of only three multifamily communities with over 100 units in Rancho Palos Verdes, a highly sought-after coastal enclave known for its scenic beauty, tranquil atmosphere, and exceptional quality of life. The city boasts Los Angeles County’s #2 ranked school district and an average annual household income of $236,000, attracting a highly educated, high-income demographic. Surrounded by multimillion-dollar homes and facing significant housing supply constraints, Highridge presents a rare investment opportunity in a market with strong and sustained housing demand.
Chad Sanderson, Senior Principal at Bascom, added, “Highridge Apartments is located in a highly competitive market with one of the tightest vacancy rates in all of Los Angeles County. We are pleased to have brought this unique deal to a successful close.”
Bascom has been one of the most active apartment buyers in Southern California since its inception in 1996, partnering with institutional and private capital. To date, Bascom has acquired 96 multifamily properties and 15,948 units in Southern California, with 40 of those properties and 6,092 units located in Los Angeles County. Joe Ferguson, Acquisitions Manager for Bascom, added, “Few opportunities of scale ever arise in coastal Southern California, and nearly none in Rancho Palos Verdes. We are excited to convert on this truly generational opportunity.”

HUNTSVILLE, AL – Rockefeller Group and T2 Capital Management announced that leasing has commenced at Vista at Councill Square. The new six-story, 332-unit premium property is located in Downtown Huntsville, Ala., the city’s entertainment and lifestyle hub. Residents will have access to best-in-class social, wellness, and recreation experiences inside and out via Vista’s wealth of amenities.
In recent years, Downtown Huntsville has evolved into one of the city’s most sought-after neighborhoods. Its convenient proximity to cultural and lifestyle happenings makes it an ideal location for upscale apartment residences. Huntsville-based Matheny Goldmon Architecture + Interiors, which has designed some of the area’s most well-known and authentic properties—including the Mars Music Hall, Orion Ampitheatre, and the Guest Center at the Huntsville Botanical Garden—collaborated with OKW Architects to realize the striking, design-forward aesthetic of the exterior, as well as the building’s interiors and homes.
“We’re incredibly proud of the collaboration that brought our shared vision for Vista at Councill Square to life. The cutting-edge curved building design, top-tier finishes, and timeless finishing touches set a new standard for elevated living in Huntsville,” Paul Matheny, (Matheny Goldmon Architecture + Interiors). “This community will stand the test of time and marks a new era of future investment for our hometown.”
“Leasing commencement at Vista marks another step forward in the evolution of Downtown Huntsville,” stated John Petricola, Senior Managing Director and Head of Southeast Development, Rockefeller Group. “This joint venture with T2 is an investment that we hope will build a lasting legacy here. Vista is the only multifamily property in Huntsville offering a rooftop pool with sweeping views of the city and an outdoor kitchen – amenities that extend the curated apartment lifestyle experience to the open air above – fostering a sense of community and connection among residents.”
“The addition of Vista to downtown Huntsville is yet another step towards the expansion of this vibrant community. Together with our partners at Rockefeller Group, we are thrilled to see it open its doors,” said Jeff Brown, CEO and Co-Founder of T2. “We are proud to have led the development of this exceptional property for people to call home and look forward to bringing more quality housing to Huntsville in the future.”
Vista is outfitted with top-tier amenities including two dedicated coworking spaces on the first and sixth floors, a fitness center with a yoga and meditation room, a hospitality unit available for residents’ guests to rent nightly, EV charging stations in the garage, a game room and lounge, secure bike storage and a pet spa, in addition to in-unit smart devices. Vista also features a rooftop pool deck, boasting views of Monte Sano Mountain and the United States Space & Rocket Center.
The property features a mix of studio, one-, two-, and three-bedroom apartments, including a limited collection of townhomes, offering two levels of living space with interior staircases. Each unit has high-end finishes, including stainless steel appliances, an in-residence washer and dryer, quartz countertops, custom shaker-style cabinetry, oversized windows, backlit vanity mirrors and frameless glass shower enclosures.

PITTSBURGH, PA – Alpha Residential, a Pittsburgh-based multifamily developer, has announced plans for a 352-unit residential community in Moon Township’s emerging Diamond Ridge district. The development will feature 300 modern apartments and 52 built-to-rent townhomes, with initial townhome deliveries expected in Summer 2026 and full project completion in Spring 2027.
The new community will be located on Market Place Boulevard, strategically positioned just 6 miles from Pittsburgh International Airport and 13 miles from downtown Pittsburgh. The development will be part of the growing Diamond Ridge district, a dynamic mixed-use district that includes Class A office space, retail, and residential communities.
“This project represents a significant milestone in Alpha Residential’s growth and our continued commitment to the Pittsburgh market,” said Jide Famuagun, CEO of Alpha Residential. “As a Pittsburgh-based company, we’re particularly excited to contribute to the continued growth of Moon Township while exploring innovative design and sustainability features that will set new standards for residential development in the region.”
Apex Diamond Ridge will offer a mix of one- and two-bedroom apartments along with three-bedroom townhomes featuring attached garages. Residents will enjoy two floors of state-of-the-art amenities, including a swimming pool and comprehensive fitness center. Individual units will feature premium finishes including 9-foot ceilings, stainless steel appliances, and quartz countertops. As part of its commitment to innovative design, Alpha Residential is exploring the integration of geothermal energy technology within the development, which could enhance the project’s energy efficiency and environmental sustainability.
“The Diamond Ridge district represents the future of suburban Pittsburgh development, combining accessibility, amenities, and thoughtful design,” added Famuagun. “Our mix of apartments and townhomes will provide needed housing options for the growing Western Pittsburgh suburb and Pittsburgh International Airport corridor following the $1.5 Billion investment to expand the airport while complementing the area’s existing office and retail developments.”
The project marks Alpha Residential’s second multifamily development in the Pittsburgh area, following Apex Newbury in South Fayette, which is scheduled to open in August 2025. The new Apex Diamond Ridge community will be situated near key amenities including the Montour Trail and Robinson Town Centre.

ARLINGTON, TX – The Texas Rangers and The Cordish Companies celebrated the grand opening of One Rangers Way in the heart of the Arlington Entertainment District. With a blend of bespoke design, resort-inspired amenities, and a rich celebration of the Texas Rangers’ history, One Rangers Way has officially welcomed its first residents, offering an unmatched luxury living experience.
“The grand opening of One Rangers Way is monumental for both the Texas Rangers and our Arlington community that has long awaited a luxury residential option of this caliber,” said Jim Cochrane, Texas Rangers Executive Vice President & Chief Business Officer. “One Rangers Way embodies the spirit of the Rangers, blending modern luxury with the team’s history in an unmatched way. We are thrilled to offer residents a lifestyle that celebrates excellence, tradition, and the vibrant energy of Arlington’s Entertainment District.”
One Rangers Way is the first residential component of Arlington’s Entertainment District, setting a new standard for elevated living in the area. The upscale building will give an exclusive first opportunity to live within walking distance to some of country’s premier sports, entertainment, hospitality and cultural venues including Globe Life Field, Choctaw Stadium, AT&T Stadium, Texas Live!, Live! by Loews, Loews Arlington Hotel & Convention Center, Arlington Museum of Art, and forthcoming National Medal of Honor Museum.
“The Cordish Companies is incredibly honored to celebrate the opening of One Rangers Way,” said Blake Cordish, Principal of The Cordish Companies. “One Rangers Way is on par with any residential community in the country. With this building, we have delivered a truly exceptional community that offers an amenity-rich lifestyle and unique opportunity to live steps away from iconic venues and attractions. Today’s milestone is an important step in cementing Arlington as a world-class mixed-use destination for decades to come.”
One Rangers Way offers over 50 floor plan options across its 300-unit community, including studios, one- and two-bedroom apartments, and penthouses to appeal to all types of residents from young professionals and sports fans to families. Each residence features high-end finishes like quartz countertops, custom cabinetry, stainless steel appliances, floor-to-ceiling windows, and in-unit washers and dryers. Named after iconic Rangers players and moments, floor plans honor the team’s history in a deeply personal way that resonates with fans. Rents start at $1,400 for studios, with penthouse options beginning at $4,000.
With over 43,000 square feet of interior and exterior amenity space, One Rangers Way opens as one of the country’s most luxurious resort-style living experiences. Residents can also indulge in an extensive calendar of events organized by a dedicated Lifestyle Coordinator, creating opportunities to connect with neighbors and celebrate the spirit of One Rangers Way. The building provides amenities and services on par with the finest residential and condo buildings in the country.
“Congratulations to The Cordish Companies and the Texas Rangers for the opening of this beautiful residential development,” said Arlington Mayor Jim Ross. “One Rangers Way will truly deliver a one-of-a-kind living experience in the heart of our Entertainment District, and we are grateful for our partners continued investment in Arlington.”
The rich history of the Texas Rangers is showcased throughout the building by a curated collection of the team’s artifacts and player-inspired artwork, allowing fans to immerse themselves in the team’s legacy like never before. Rangers’ memorabilia incorporated into the building’s design includes dozens of artifacts on display, while the extensive art collection, tailored specifically for One Rangers Way, includes over 50 custom pieces featuring legendary Rangers players through the years, including artistic photographic prints, murals, sculptures, and incredible installations.
Each piece of art and memorabilia was hand selected to tell the story of the franchise and residents will truly be living like champions alongside some of the greatest moments in Rangers’ history. Highlights of the art and memorabilia collection include Iván “Pudge” Rodríguez’s bat, Corey Seager’s game-worn hat and positioning card, a game-used base from the Rangers AL West clinch game, a 2023 World Series celebration mural, a bat mixed media sculpture, and more. These elements transform One Rangers Way into an interactive celebration for every Rangers fan who calls it home.
The opening of One Rangers Way marks the culmination of years of planning and development, and pre-leasing has surpassed all expectations. With today’s opening, over 95% units are leased within the first phase of move-ins before Rangers’ Opening Day, with 60% of the entire building leased.
“The excitement surrounding One Rangers Way has been extraordinary,” added Emelyna Aurich, Director of Property Management for Cordish Living, The Cordish Companies’ multifamily division. “This community stands apart because it offers exceptional amenities, services, and proximity to some of the best entertainment and dining options in the region, while giving residents exclusive access to the Rangers clubhouse. With demand exceeding expectations, we encourage prospective residents to act quickly to secure their opportunity to be part of this exceptional experience.”

MELBOURNE, FL – Carter Multifamily announced the acquisition of Mode at Melbourne, a 166-unit garden-style multifamily community located in Melbourne, Florida. This latest addition to Carter Multifamily’s value-add portfolio will be managed by Allegiant-Carter Management, the in-house property management arm of Carter Funds. As an affiliated company under the Carter Funds umbrella, Allegiant-Carter Management will oversee the property’s day-to-day operations, ensuring seamless alignment with Carter Multifamily’s strategic vision and value-enhancement initiatives.
Mode at Melbourne is located in Melbourne, Florida, on the state’s rapidly growing Space Coast, southeast of Orlando. The property consists of 166 apartment homes featuring spacious one-, two-, and three-bedroom floorplans, with an average unit size of 1,707 square feet—approximately 500 square feet larger than the average of comparable units in the market. Built in 2020, the community spans approximately 218,592 rentable square feet and was 94.6% occupied at the time of acquisition, with an average monthly rent of $1,923.
Mode at Melbourne offers luxury-style amenities including a resort-style pool, fitness center, resident clubroom, EV charging station, dog park, and select units with water views. The property, formerly known as The Palm Bay Grand, will be rebranded to Mode at Melbourne, enhancing its market positioning.
Melbourne’s Space Coast is a rapidly expanding market fueled by strong population and job growth. Home to major employers like Northrop Grumman, L3Harris, SpaceX, and Blue Origin, the area continues to attract high-profile companies, including Boeing’s Space and Launch division. Ongoing tech sector expansion, such as L3Harris’ proposed 200-job campus growth, further drives housing demand, positioning Mode at Melbourne for long-term appreciation.
Carter Multifamily plans to enhance the property’s value through a targeted value-add strategy. This includes interior renovations, exterior upgrades, and operational efficiencies, as well as revitalizing the property’s branding.
Ray Hutchinson, Chief Executive Officer of Carter Funds, commented, “We’re excited to expand our multifamily portfolio into this dynamic, high-growth submarket along Florida’s Space Coast. Mode at Melbourne is well-positioned to capitalize on the region’s sustained population and job growth. With larger-than-average apartments, the property holds a unique competitive advantage and presents an excellent opportunity for value creation.”

SAN RAMON, CA – Belmont Village Senior Living, an award-winning developer, owner and operator of senior housing, announced the opening of Belmont Village San Ramon (1000 Walnut Drive), its fifth Bay Area development and 16th California community, developed in partnership with Sunset Development and located within the vibrant Bishop Ranch neighborhood that offers residents convenient access to premier retail, dining and entertainment.
Belmont Village San Ramon features 177 apartments, including studio, one- and two-bedroom options for Independent Living, Assisted Living and Memory Care. Residents will benefit from Belmont Village s proprietary, evidence-based approach to health and wellness, which includes its award-winning Circle of Friends® program designed to enhance cognitive strength and enrich daily life. The community is thoughtfully designed to provide the right balance of care and support tailored to all lifestyles, with well-trained staff and licensed nurses on-site 24/7.
The opening of Belmont Village San Ramon is a testament to our mission to create vibrant, supportive communities where seniors not only receive best-in-class care but truly feel at home, said Patricia Will, founder and CEO of Belmont Village Senior Living. We re excited to be part of the Bishop Ranch evolution through our collaboration with Sunset Development. Our residents will benefit from Belmont s thoughtful design and rich programs wrapped in beautiful outdoor spaces and steps from premier dining, entertainment and retail.
Set against the backdrop of Mount Diablo and the surrounding hills, Belmont Village residents will enjoy a prime location just steps away from City Center Bishop Ranch, a lively entertainment destination at the center of the evolving Bishop Ranch community. Residents can take advantage of walking paths for a short trek to engage in the array of meaningful social and cultural experiences City Center has to offer. Within Belmont Village San Ramon are state-of-the-art amenities including a fully equipped fitness center with professional trainers and group fitness classes, a screening room, a sports lounge, a creative arts studio, a library, and a full-service salon. Outdoors, the community offers a heated swimming pool, bocce ball and putting greens, a farm-to-table garden, a yoga lawn, rooftop terraces, and a dog park, creating a flourishing environment for relaxation, recreation and connection.
Welcoming Belmont Village San Ramon to Bishop Ranch represents a pivotal step in our continued growth as a dynamic, sought-after community, said Alex Mehran, Jr., president and chief executive officer of Sunset Development. This new development highlights the area’s increasing appeal as an ideal place to settle, with a diverse range of people choosing to make the city their home. The influx of new residents, including those at Belmont Village, underscores how San Ramon is evolving into a premier destination not only for families but also for seniors seeking a luxury living experience that offers both tranquility and easy access to the greater Bay Area.
Belmont Village San Ramon marks the second residential community to join Bishop Ranch and the only senior living community in the development. Owned and developed by the family-run Sunset Development, Bishop Ranch is a $5 billion mixed-use, walkable neighborhood and one of the largest privately owned, master-planned community projects in the U.S. Spanning nearly 600 acres in Northern California s San Ramon Valley, Bishop Ranch seamlessly integrates office spaces, residential living, hotel amenities, retail, restaurants and entertainment.

GREENVILLE, SC – Flournoy Development Group, an industry leader in innovative, best-in-class multifamily developments throughout the sunbelt, announced the groundbreaking of District South, its newest luxury mixed-use community in Greenville, South Carolina. This highly anticipated project underscores the company’s ongoing dedication to expanding its premier multifamily portfolio.
Situated on a sprawling 21-acre site, District South will feature an impressive collection of 365 multifamily units, 90 for-rent townhomes, six carriage homes, and 13 retail spaces meticulously crafted to meet the lifestyle needs of today’s sophisticated residents. The vibrant community is composed of five four-story apartment buildings, 12 townhome buildings, and three carriage home buildings designed to enhance seamless connectivity within the community and surrounding area.
Strategically positioned near major interstates I-85 and I-385, District South offers convenient access to Greenville’s diverse economic hubs, including major employers such as BMW, GE, Michelin, Jacobs, and Fluor. The site is located just off the well-traveled Woodruff Road corridor, providing immediate proximity to a wide range of dining, entertainment, and retail options, including Whole Foods, Fresh Market, Publix, and Sprouts. With Downtown Greenville only a 15-minute drive away, this location is ideal for professionals balancing city and suburban lifestyles.
Residents of this distinguished community will enjoy premium amenities designed to foster wellness, relaxation, and social engagement. These amenities include a convenient grab-and-go market for everyday essentials, a stylish and inviting resident lounge, a state-of-the-art fitness and wellness center, and a resort-style swimming pool with an expansive pool courtyard. Additional outdoor grilling stations and entertainment areas provide ideal spaces for gathering with friends and neighbors, while pet owners will appreciate the dedicated dog park and an indoor pet spa. The community also features thoughtfully planned sidewalks and vehicular connectivity, which provide easy access and convenient options for pedestrians, cyclists, and drivers alike.
Each apartment home will feature spacious one- and two-bedroom layouts with upscale finishes, including quartz countertops, stainless steel appliances, luxury vinyl plank flooring, and full-size washers and dryers, offering both style and functionality for future residents.
“We are thrilled to bring another meticulously designed, high-quality community to the Greenville market,” said Ryan Foster, Senior Vice President of Flournoy Development Group. “With a strong track record in Greenville with successful developments like District West and District Midtown, this project further reflects our commitment to delivering best-in-class communities that combine modern elegance, careful and thorough attention to detail, and a distinct sense of community.”
The project team includes architect Dynamik Design, general contractor McShane Construction, and local civil engineering firm Gray Engineering. The community will be expertly managed by Flournoy Properties Group.

HOUMA, LA – ECI Group (ECI) announced the sale of Houma Highlands apartments at 461 S. Hollywood Road in Houma, Louisiana to Oakwood Capital Oakwood) for an undisclosed price. The 16-building, 378-unit community was built in phases, with Phase 1 completed in 2004 by another developer and then it was acquired by ECI and Phase II was developed and completed in 2012.
“ECI is proud of our execution at Houma Highlands and the positive contributions we have made in the Houma community over more than a decade,” said Scott Levitt, Chief Acquisitions Officer at ECI Group. “We provided a continuum of integrated services at Houma Highlands, from development and construction management to property and asset management, and our team positioned it into the successful apartment community it is today. We know Oakwood will be excellent stewards going forward.”
In October 2024, ECI received a $350 million infusion of equity from Almanac Realty Investors and continues to pursue acquisition and development opportunities in major markets in the Southeast and Texas.
Houma Highlands offers pet-friendly one-, two-, and three-bedroom homes with sophisticated finishes, including upgraded countertops, stainless steel appliances, and stylish flooring. Residents enjoy an array of high-end amenities such as a resort-style pool, a fully equipped fitness center, and beautifully maintained green spaces.
For more than 50 years, ECI Group has been one of the most highly regarded, privately owned real estate organizations in the United States. The firm is fully integrated, with development, construction, investment, and property management groups that have garnered national recognition for innovation and performance in the multifamily industry. With a portfolio of more than 7,000 units located throughout the Southeast and Texas, ECI is strategically positioned to continue to be a leader in the multifamily industry.

FORT MYERS, FL – CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced it has acquired Coastal Village, a 200-home, 800-bed student housing community in south Fort Myers.
Situated at 19401 Skidmore Way, Coastal Village sits within a quick commute of Florida Gulf Coast University, a Division I college attended by approximately 16,000 students. CAPREIT’s acquisition of the off-campus community represents the company’s entry into the student housing sector.
“Residents of student housing want all the same things that traditional apartment residents want—namely, superior property management and white-glove service,” said Andrew Kadish, CEO of CAPREIT. “It’s that kind of touch that CAPREIT can bring to Coastal Village and the student housing industry. The relatively consistent and reliable demand in the student housing sector, combined with our desire to secure steady returns and significant capital appreciation for our investors, gives CAPREIT the perfect opportunity to enter student housing.”
With a portfolio mostly composed of market-rate and workforce apartments, CAPREIT has recently expanded into new verticals. Prior to joining the student space, the company entered the single-family, build-to-rent sector with the 2024 acquisition of Baldwin Chase in Greenville, S.C.
Coastal Village, originally built in 2004, is a pet-friendly community and offers fully furnished homes—each with four private bedrooms. Community amenities include an outdoor swimming pool, fire pit, resident lounge, coffee bar, private study spaces and an onsite fitness center. Apartment homes include upgraded kitchens with granite countertops and center islands, built-in desks in each room, full-size washers and dryers, central air conditioning and private patios or balconies.
In addition to the Florida Gulf Coast University campus, the community offers quick connectivity to the multitude of shopping options at Three Oaks Town Center and the vast recreational opportunities at Bonita Nature Place. Additionally, Florida SouthWestern State College is located 12 miles northwest of the community.

KINGSTON, RI – Gilbane announced its collaboration with the University of Rhode Island (URI) to develop and construct up to 1,100 additional on-campus beds through a new, innovative public-private partnership. This initiative will address growing student demand for on-campus housing and underscores both URI’s and Gilbane’s commitment to enhancing the student experience at the state’s flagship research university.
Selected through a competitive proposal process, Gilbane will lease University-owned land to plan, finance, design, construct, and manage the new residence halls on URI’s Kingston Campus. With a legacy spanning 150 years, Providence-based Gilbane has a proven track record of delivering innovative housing solutions in collaboration with higher education institutions nationwide. This latest project highlights the company’s commitment to creating resource-efficient, student-focused communities that meet the evolving needs of universities and their students.
Gilbane is pleased to partner with URI on this significant project, which reflects our shared commitment to enhancing the student experience,” said Zach Tronti, development director of Gilbane Development. “This collaboration underscores our dedication to developing high-quality, accessible housing that supports academic success and fosters a vibrant campus community. It’s rewarding to be working towards a project that will have a lasting impact at URI and in our home state of Rhode Island.”
These modern apartment-style residential buildings will provide a vibrant, inclusive, and academically supportive environment for undergraduate and graduate students to thrive. Construction is expected to begin in fall 2025 following a feasibility and pre-development activity period, with the first occupancy planned for fall 2027.
“Gilbane is thrilled to continue our longstanding partnership with URI on this innovative project,” said Mike Busam, Gilbane Building’s Rhode Island Business Leader. “This is incredibly rewarding given our long history with the University, where Gilbane has contributed to enriching the campus over the past decades, constructing multiple facilities, including the Ryan Center and Center for Bio-Life Sciences, among others. We’re looking forward to returning to campus!”
The new project aligns with URI’s strategic plan, Focus URI, and builds on a decade of campus advancements, further cementing URI’s reputation as a top-tier institution that prioritizes student success.
“This public-private partnership offers many benefits to the University and our students,” said Abby Benson, vice president for administration and finance, University of Rhode Island. “The partnership enables us to address the growing demand for on-campus housing expressed by URI students. It also enables us to develop new housing on an accelerated timeline while ensuring fiscal responsibility.”
“CannonDesign is honored to be working with two clients with whom we have a rich history, URI and Gilbane Development, in support of URI’s mission to expand and elevate student experience on campus.” said Lynne Deninger, AIA, Principal of CannonDesign.