HEMPSTEAD, NY – Hudson Valley Property Group, a leading, national affordable housing preservation company, announced its acquisition of 100 Terrace Apartments, a 420-unit affordable housing property located at 100 Terrace Avenue in Hempstead, New York.
The acquisition marks HVPG’s first property in Nassau County and expands the firm’s presence on Long Island, where it also operates a property in Suffolk County. To date, HVPG has preserved ~2,300 units of affordable housing throughout New York State and City. Through this preservation project, HVPG will protect the long-term affordability of 100 Terrace and implement comprehensive renovations designed to enhance quality of life for residents while modernizing the property’s infrastructure and amenities.
Total project costs related to this transaction are approximately $145 million. HVPG is planning approximately $23 million in renovations, averaging $55,000 per unit, to modernize the six-story, mid-rise building originally constructed in 1972.
“We are proud to expand our footprint on Long Island and bring our preservation expertise to Hempstead,” said Jason Bordainick, Co-Founder and Managing Partner of Hudson Valley Property Group. “100 Terrace represents a critical component of the area’s affordable housing infrastructure, and we’re committed to ensuring these 420 homes remain safe, accessible, and affordable for working families for generations to come. Through thoughtful investment and strategic partnerships with HUD and local stakeholders, we’re preserving not just housing, but stability and opportunity for this community.”
To ensure long-term affordability for residents, HVPG has secured a renewed HUD Project-Based Section 8 Housing Assistance Payment (HAP) contract covering 99% of the property’s units. Under this agreement, income-qualified residents will pay no more than 30% of their household income toward rent, with affordability protections locked in for an additional 22 years. The property is further restricted to income-qualified residents earning no more than 50% of Area Median Income (AMI).
The property is further supported by a Payment in Lieu of Taxes (PILOT) agreement with the Township of Hempstead Industrial Development Agency (IDA), which was instrumental in enabling the preservation of this vital affordable housing asset.
Frederick Parola, Executive Director of the Town of Hempstead Industrial Development Agency, said, “We welcome this investment by Hudson Valley Property Group and with our assistance, tenants, the Village of Hempstead, and the Town of Hempstead will benefit from the revitalization of this property and the creation of a safe, attractive, and well-maintained affordable housing community.”
“We look forward to partnering with Hudson Valley Property Group in preserving this community asset and are excited to collaborate to deliver safe, affordable housing to the residents of 100 Terrace Avenue. HVPG’s investment alongside the Village of Hempstead’s commitment to improving the quality of life and housing in this neighborhood will have positive ;impact for our community for years to come,” said Jeffery Daniels, Deputy Mayor of the Village of Hempstead.
HVPG’s renovation plans prioritize resident safety, comfort, and quality of life through a wide-ranging transformation of the property. The comprehensive scope of work will touch every aspect of residents’ living experience, from their individual units to shared spaces and building-wide systems.
Units will receive new cabinetry and countertops, energy-efficient appliances, water-saving faucets and sinks, and upgraded flooring as needed. The property will feature an expanded central laundry facility on the ground floor and a newly created business center available for residents’ use. HVPG will be launching its signature Community Enhancement Program which includes the implementation of security measures throughout the property, including upgraded cameras, access control systems, and intercom technology. All residents will have access to complimentary high-speed Wi-Fi at no cost. Building infrastructure improvements will address critical systems with new roofing, parking garage improvements, boiler system repairs and complete modernization of all elevators.
HVPG is committed to continuing and supporting existing resident programming, including the PEACE afterschool program that serves the 100 Terrace community.
“The Partnerships in Education to Avoid Criminal Justice System Entry (P.E.A.C.E. Afterschool Program) has proudly served this community for over 14 years, providing educational enrichment, tutoring, and youth employment opportunities,” said Dr. Fayth Vaughn-Shavuo, Executive Director of P.E.A.C.E. “We’re excited to partner with new ownership of 100 Terrace, Hudson Valley Property Group, whose commitment to enhancing residents’ quality of life through education and community programming aligns perfectly with our mission. We look forward to strengthening the support and resources available to our students and families in the years ahead.”
The project is being financed through a combination of equity from HVPG’s Hudson Valley Preservation Fund and a Fannie Mae loan provided by KeyBank. HVPG worked closely with the U.S. Department of Housing and Urban Development (HUD) and the Township of Hempstead IDA to structure this preservation transaction.

CHARLOTTE, NC – Elevest Capital, a boutique private equity firm focused on multifamily real estate, announced the completion of Fund 64 in partnership with Rise48 Equity, marked by the acquisition of a 240-unit B+ multifamily community in Charlotte, North Carolina. The transaction reflects Elevest Capital’s continued strategy of investing in well-located assets within high-growth submarkets that offer attractive long-term fundamentals and value-creation opportunities.
This property was built in 1999 and sits in a desirable B+ submarket of Charlotte and offers significant upside through strategic renovations. The property presents opportunities to modernize unit interiors and add in-unit washers and dryers. These enhancements are expected to drive rental growth and elevate resident satisfaction.
“Closing Fund 64 and acquiring this asset highlights the strength of our investment strategy and the value we bring to investors,” said Adam Williams, Founder & CEO of Elevest Capital. “Charlotte continues to demonstrate strong economic momentum, making this property a standout addition to our portfolio.”
To unlock additional value, there will be swift execution of a comprehensive value-add strategy centered on unit modernizations and amenity enhancements. These targeted improvements are intended to drive occupancy and support rental growth.
“This investment exemplifies our disciplined approach to multifamily investing, targeting assets with clear value-creation pathways in high-demand markets,” said Dana Williams, President of Elevest Capital. “Our team’s hands-on management and renovation expertise will be integral to realizing the full potential of this property.”

DALLAS, TX – MG Properties, a privately held real estate investment firm, announced the acquisition of Sola Galleria Apartments, a multifamily community located in Farmers Branch, Texas. The acquisition further expands MG Properties’ presence in the Dallas–Fort Worth metro area, one of the fastest-growing multifamily markets in the country.
Sola Galleria Apartments is a well-located residential community offering modern amenities and convenient access to major employment centers, retail, dining, and transportation corridors throughout the DFW area. The property’s location at the intersection of Farmers Branch and Addison provides residents with proximity to Dallas’ urban core while maintaining a balanced “live-work-play” living environment.
MG Properties plans to implement its trusted approach at Sola Galleria Apartments, focusing on resident satisfaction, operational efficiencies, and selective property enhancements.
“This transaction underscores our continued confidence in the Dallas–Fort Worth market,” said Jeff Gleiberman, President of MG Properties. “Farmers Branch remains an attractive submarket due to its central location, economic vitality, and sustained demand for rental housing.”
The sellers, HLC Equity and The Hampshire Companies, were represented by Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware, and Jack Windham of IPA. Financing for the transaction was led by IPA Capital Markets’ Cameron Chalfant, Brian Eisendrath, Harry Krieger, and Scott Arenzon.

FORT COLLINS, CO – The Milestone Group completed two Class A Intermountain region acquisitions, purchasing Bucking Horse Apartments, a 322-unit, garden-style multifamily community within the 160-acre Bucking Horse master-planned community in Fort Collins, Colorado, and Prelude at Paramount, a 280-unit garden-style multifamily community in Meridian, Idaho, a rapidly growing suburb of Boise. The purchase prices were not disclosed.
“Bucking Horse Apartments features highly sought-after amenities, numerous recreational options, and exceptional access to regional employment centers. The Fort Collins market is characterized by strong fundamentals for growth, high barriers to entry, and 95% market occupancy with limited supply in the pipeline,” said Milestone Vice President of Acquisitions Rich Ritter. Ritter continued, “Prelude at Paramount provides significant enhancement potential in one of the most dynamic growth corridors in the Mountain West, supported by exceptional demographic and economic momentum. Acquiring the asset at a basis well below replacement cost creates an attractive entry point that, when combined with our value-enhancement business plan, positions the property to capture long-term demand and appreciation. These acquisitions provide us portfolio exposure to two suburban markets experiencing strong demographic tailwinds fueled primarily by domestic migration and outsized job growth in tech, medical, and educational sectors.”
Bucking Horse Apartments: The Fort Collins region continues to attract capital investment with accompanying job creation, including Marvel Fusion’s $150 million laser research facility, a 3.5 million square foot Amazon robotics facility, Colorado State University’s Future Technology building, and the expansion of the existing USDA facility, as Fort Collins was named a regional hub city for the reorganized agency.
Bucking Horse Apartments was designed specifically to encourage neighborhood living, with low-density garden-style buildings built to homebuilder-quality construction standards. The community’s one-, two-, and three-bedroom units, and three-bedroom garage townhomes, are surrounded by single-family homes averaging $800K, delivering a unique and highly attractive product in a walkable and richly amenitized community.
Prelude at Paramount: Located within Boise’s thriving rental market, Meridian is one of the fastest-growing cities in the region, having experienced more than 20% population growth since 2020. The Boise/Meridian area boasts a diverse and growing economy and serves as a regional hub for technology, healthcare and education, which have driven strong job growth and low unemployment. Prelude at Paramount enjoys direct access to top schools, retail centers, employment hubs, and transportation corridors.
The 2018-vintage asset was designed for modern, efficient living in a resort-style community. One-, two-, and three-bedroom units feature smart home technology and recently renovated common area amenities.

ARDMORE, PA – Piazza Property Development Company and Radnor Property Group announced the start of construction of The Piazza at Ardmore, a $187 million new mixed-use, multi-family housing and retail project at 100 Lancaster Avenue in Ardmore, Pennsylvania. The Piazza at Ardmore will bring 270 apartments, nearly 30,000 square feet of street-living retail space, and 480 parking spaces to Ardmore’s business district, 108 of which will be for public use.
The site is owned by Daniel Piazza Esquire and The Piazza Family who currently operate an Acura dealership. In January 2025, Dan Piazza Esquire selected Radnor as his developer to undertake the pre-development and development process.
“Radnor is delighted to expand our multi-family portfolio expertise to Ardmore, one of Philadelphia’s finest suburban communities to live and work,” said David Yeager, Radnor’s CEO & Managing Partner. “Through collaboration with ownership, The Piazza at Ardmore is a tremendous opportunity to carry on the area’s momentum and growth, enhancing its vibrancy and economic prosperity for the future.”
The project is part of a transit-oriented development at the Amtrak/SEPTA Rail station, bringing greater density and walkability to the downtown. Located adjacent to the Ardmore train station—the area’s busiest stop for regional SEPTA trails—and within walking distance of the Suburban Square Shopping Center, Ardmore Farmer’s Market, Ardmore Music Hall, and Trader Joe’s, The Piazza at Ardmore is ideally situated to create a true sense of place.
Amenities for The Piazza at Ardmore will include covered public and private parking, a community lounge, gaming room, media room, demo kitchen, co-working space, fitness center, an outdoor pool, and over 19,000 SF of outdoor courtyard space. The target retail tenants include a mix of food and beverage, health and wellness, and specialty retail uses.
“The groundbreaking of this project represents an exciting milestone for Piazza and the community of Ardmore,” said Daniel Piazza Esquire “This development has long been in the works, and we’re thrilled to be engaged with Radnor to bring The Piazza at Ardmore to fruition and deliver a truly fantastic live-work-play environment.”
This project illustrates the concerted effort between Radnor and Piazza in delivering a thoughtful, responsive, and elevated community. The team worked closely with Lower Merion Township and the Ardmore Initiative, the community’s Business Improvement District, to engage with stakeholders, ensure ample parking and walkability, and create pedestrian-friendly spaces where people can congregate.
“We hope that The Piazza project will bridge the years-long connectivity challenge between Haverford College and downtown Ardmore,” said Alec Hersh, Executive Director of the Ardmore Initiative. “The Piazza at Ardmore is another big piece in the puzzle of making Ardmore the Main Street of the Main Line.”

RALEIGH, NC – Elevest Capital, a boutique private equity firm specializing in multifamily real estate, announced the successful completion of Fund 63 with the acquisition of a 97-unit B+ class multifamily property located in the Raleigh-Durham MSA, in partnership with Rise48 Equity. This latest acquisition underscores Elevest Capital’s continued dedication to sourcing high-quality assets that offer strong investment potential and enhance communities.
Built in 1987, the asset is well positioned within a strong submarket of one of the Southeast’s fastest-growing metropolitan areas. The property offers compelling value-add potential through unit renovations and targeted amenity enhancements. It currently benefits from healthy occupancy levels and is supported by robust fundamentals, including an expanding job base, continued population growth, and sustained rental demand.
“Our ability to successfully close Fund 63 demonstrates the ongoing strength of our investor base and their confidence in our investment strategy,” said Adam Williams, Founder & CEO of Elevest Capital. “The Raleigh-Durham area continues to attract residents and businesses alike, making it a compelling addition to our portfolio.”
To drive long-term value and enhance the resident experience, there are extensive plans to execute a comprehensive renovation program focused on upgrading unit interiors, installing in-unit washers and dryers, and enhancing community amenities. These strategic improvements are intended to increase occupancy, support rental growth, and maximize investor returns.
“This acquisition reflects our commitment to identifying high-quality assets with strong value-creation potential,” said Dana Williams, President of Elevest Capital. “By executing a strategic renovation plan and applying proven management expertise, we believe the property is well positioned to deliver long-term benefits for residents while generating attractive returns for our investor partners.”

CHICAGO, IL – S2 Capital, a national vertically integrated real estate investment manager, announced the acquisition of Ovaltine Apartments, a 344-unit garden and loft-style multifamily community located in Villa Park, Illinois, a western suburb of Chicago, marking the firm’s first investment in the greater Chicago area. Terms of the transaction were not disclosed.
The acquisition represents a strategic expansion for S2 into a new major U.S. market following several years of evaluation and underwriting across the Chicago region. The property was acquired through a highly competitive marketing process led by the JLL Investment Sales team and aligns with S2’s value-add investment strategy.
Originally converted from the historic Ovaltine Chocolate Factory in 2001, Ovaltine Apartments is a generational landmark asset featuring distinctive loft-style layouts, 9- to 15-foot ceiling heights, and unique architectural character rarely found in suburban Chicago. The community is located in DuPage County, a supply-constrained submarket with no new multifamily units currently under construction within a three-mile radius and strong recent rent growth.
“All markets are not created equal, and our entry into Chicago reflects years of disciplined research and conviction around long-term fundamentals,” said Cole Stephens, Managing Director of Asset Management, Residential at S2 Capital. “Ovaltine offers a compelling combination of historical character, durable demand drivers, and value creation potential, making it an exciting first investment for S2 in the Chicago market and a strong addition to our portfolio.”
The property has demonstrated exceptional recent performance, maintaining average occupancy above 95% since January 2024 while consistently outperforming comparable properties in rent growth. Approximately 98% of units remain unrenovated or only partially upgraded, providing S2 with the opportunity to execute a comprehensive renovation program aimed at driving rental growth and enhancing resident experience.
S2 acquired the asset through its fully discretionary closed-end fund, S2 Real Estate Fund II. The firm plans to leverage its vertically integrated operating platform to implement interior renovations, targeted capital improvements, and operational efficiencies over the investment horizon.

NASHVILLE, TN – National multifamily developer Wood Partners has officially closed on Alta Beacon in Nashville, Tennessee. The 328-unit, wrap-style multifamily community will break ground this month and is slated to deliver first units in Q2 of 2026.
Located on the edge of the Wedgewood-Houston neighborhood, just a few blocks south of downtown, Alta Beacon offers residents convenient access to one of Nashville’s fastest-evolving neighborhoods. The area is seeing the arrival of ultra-luxury brands such as Hermès and Brunello Cucinelli, positioning Wedgewood-Houston as a growing destination for dining, retail and culture.
“Nashville’s multifamily market continues to show strong demand, and Alta Beacon allows us to deliver a thoughtfully designed, amenity-rich community that meets the needs of today’s renters,” said Andrew Steffens, Managing Director at Wood Partners. “We’re looking forward to starting construction in the midst of the neighborhood’s explosive growth and at a time when other comparable projects are stalling. I can’t express how proud I am of our local team for continuing to pursue and execute on exceptional investment opportunities.”
Situated upon a 60-foot bluff, the 5-story community will feature a mix of studio, one- and two-bedroom apartment layouts. Future residents can enjoy protected high-rise quality views, a clubhouse, a fitness area, a resort-style pool, an indoor sky deck with a large exterior deck, dog yards, a pet spa and gate-protected structured parking.
Upon completion, Wood Partners will have delivered more than 3,500 units across Nashville. Earlier this year, the firm broke ground on Alta Gallatin, a 372-unit multifamily community situated on 35 acres. That project will include a commercial component at the entrance, along with a clubhouse, fitness center, business hub, pool, dog park, amenity lawn and for-rent detached garages.

BOSTON, MA – International real estate business Pembroke has announced the acquisition of Proto in Kendall Square in Cambridge, MA. A vibrant property since opening in 2018, Proto s 280 units are currently 95% occupied. The property is situated in the epicenter of technology, life science and academia and offers residents amenities that improve the quality of life—community spaces for entertaining or work, onsite concierge, a landscaped terrace, fitness center, pet spa and expansive bike storage. Sustainability features include LEED gold certification, EV parking and all electric energy star appliances in units.
This decade is one when we ve seen the global real estate market profoundly change—people want more from the places where they live and work, and they want ease in transitioning between these places. We re diversifying our portfolio to complement our office and mixed-use properties in leading metropolitan markets by investing in residential assets in the same locations, said Edward Johnson, President of Pembroke. Proto is our fifth residential acquisition in two years, and it s particularly meaningful to us, because it s not only our first acquisition in the Boston-area since launching our diversification strategy, but Boston also is the city where Pembroke began twenty-eight years ago.
Pembroke continues to focus on diversifying its portfolio and is sourcing more development and operating multifamily opportunities across North America, Europe and Asia Pacific. We continue to focus on identifying the attractive opportunities in our target markets, be it high-quality existing assets or ground-up developments, and are in a unique position to close deals expediently, said Jack Clark, Senior Vice President and Head of Investments at Pembroke. We look forward to uncovering what opportunities 2026 will bring.
The Boston area has been a focal point not only for Pembroke s investment team but also the development and design teams, as they transform the former Seaport World Trade Center into Commonwealth Pier. Opening in 2026, Pembroke is revitalizing Commonwealth Pier to create a new waterfront destination with a mix of restaurants and retail, new public spaces connecting Boston Harbor with the dynamic Seaport neighborhood and programming welcoming people from across Boston and beyond all four seasons. Commonwealth Pier also will be a new home for Fidelity Investments and the Museum of American Finance, an affiliate of the Smithsonian Institute which will welcome the public to its exhibits and programming free of charge, advancing its mission to make financial literacy accessible to all.
Like many Bostonians, I have known this iconic, waterfront property through very different functional evolutions. Originally a series of industrial warehouses, we ve preserved notable historic features while modernizing the building to give it a human scale and infusing it with next-generation technology that meets the needs of today s users, Johnson said. We literally cut out parts of this massive property to create spaces that encourage connections for the public and the building occupants. There s a flow that runs through this property that will inspire exploration.
Also in 2025, Pembroke acquired multifamily development sites in Munich and Melbourne. Alramstrasse 14 is a 16,500 sqm property in southwest Munich just four kilometers from Munich City Centre which Pembroke will transform into a complex with high quality rental apartments complemented by community features, green spaces and retail. 155 Johnston Street is located in Melbourne s trending suburb, Fitzroy, less than two kilometers from Melbourne s Central Business District (CBD) where Pembroke is planning a multi-use complex with contemporary rental apartments with a wide range of lifestyle benefits. Pembroke launched its ambitious global diversification strategy two years ago with the purchase of two operating assets: The Lark in London in December 2023 and Fitzroy in Arlington, VA outside Washington DC in December 2024. Pembroke has offices in these cities and will rely on its distinctive approach leveraging both global expertise and local knowledge to advance its work as a multifamily investor, developer and asset manager.
Pembroke s Boston portfolio also includes the office towers Seaport East and West at Commonwealth Pier, 255 State Street and 245 Summer Street.

NEW YORK, NY – Oakline Properties announced a new partnership with Drucker + Falk, a Top-50 NMHC multifamily and commercial property management firm with over 43,000 apartment units under management. The partnership will enable the continued longevity of DF’s successful legacy in the property management industry.
Founded by Emanuel E. Falk and A. Louis Drucker in 1938 in Newport News, VA, DF has grown to manage properties in 10 states and today has over 1,000 employees. The company has been under the leadership of third-generation owners and managing directors Wendy Drucker, Kellie J. Falk, and David Falk, Jr. since 2005. For 87 years, DF has paired the tools, technology and resources of a national organization with the personalized service of a local partner. DF s forward-thinking, people-focused approach has guided its growth into one of the nation s largest and most established property management and commercial real estate firms.
In the transaction, Drucker + Falk was represented by M&A advisors, Transact Capital Partners, with the deal team led by Partner, Patrick Morin and Managing Director, Mark Leone.
We are tremendously excited to partner with Oakline as they help us bring DF s operations into its next phase of growth and scale, added Kellie J. Falk, Principal and Managing Director of DF. Our partnership provides the perfect puzzle piece that allows us to keep our foremost focus on providing best-in-class service for our customers, while continuing to invest behind our best asset, our people.
Oakline, launched in September 2025 by Alpine Investors, partners with leading property management companies by investing in their growth, preserving their independence and legacy while unlocking the advantages of national scale. Through modern technology, cross-platform lead generation, expanded service offerings, and access to world-class talent, Oakline supports partners growth and long-term success. The Drucker and Falk families will remain actively involved as the business partners with the Oakline platform, which will now manage 65,000+ units nationwide
From the outset, Oakline’s people-oriented mission gave us the confidence that they will take care of our people and the company we have built, said Wendy Drucker, owner and Managing Director of DF. We look forward to our next chapter and continuing to build on our property management industry leadership.
Wendy, Kellie, David and the team at Drucker + Falk have built one of the leading multifamily management firms in the US, said Amanda Sayigh, CEO of Oakline. We are deeply grateful for the opportunity to partner with them and to support the company’s continued growth, while maintaining the attributes that have defined its success to-date.