LOS ANGELES, CA – Eagle Partners announced the closing of a $107-million affordable housing preservation acquisition, The Hills at Hacienda Heights, a 350-unit apartment community in the San Gabriel Valley of Los Angeles. Eagle Partners’ acquisition will create long-term affordability for the community and will enhance the quality of the asset through targeted capital reinvestment.
Eagle Partners, a vertically-integrated multifamily real estate investor and operator, partnered with Red Stone Equity Partners, JPMorgan Chase, California Housing Finance Agency (CalHFA), and Affordable Housing Access to execute upon the market-to-affordable conversion.
Eagle Partners will restrict up to 350 units to households earning up to 80% of Area Medium Income (AMI) with an emphasis on minimizing tenant displacement.
“There is substantial need to increase access to and maintain the quality of attainable housing across Southern California and beyond,” said Taylor Friend, a Managing Partner of Eagle Partners. “We are proud to partner with best-in-class organizations to find creative ways to meet the needs of the community while also creating value for our investment partners.”
The Hills at Hacienda Heights will be the second – and largest – CalHFA affordable housing preservation equity transaction in California.
“As part of the state’s overall housing finance strategy, CalHFA is continually exploring creative ways to boost and preserve the supply of affordable housing for Californians earning low to moderate incomes,” said CalHFA Executive Director Tony Sertich. “We are thrilled to be part of this collaboration that will preserve affordability for so many deserving families.”
Red Stone Equity Partners, a leading real estate investment firm specializing in affordable housing, partnered with JPMorgan Chase to execute the transaction. As a market leader in affordable housing and long-standing investment partner of Red Stone, JPMorgan Chase provided the majority of the capital for the investment. The investment is a part of Red Stone’s Preservation Equity platform, which utilizes private market solutions to acquire and preserve existing affordable rental housing throughout the country.
“Investing in The Hills at Hacienda Heights’ affordable conversion alongside Eagle Partners represents the kind of strategic collaboration that Red Stone seeks with sophisticated operators as we continue to prudently deploy impact capital into affordable housing,” said Brian Fishback, Director of Alternative Investments at Red Stone Equity Partners. “This transaction reflects our commitment to preserving affordability, and we look forward to seeing the lasting impact this investment will have for residents and the broader Hacienda Heights community.”
Situated on approximately 10.5 acres and originally built in 1970, The Hills at Hacienda Heights is a recently renovated community of 1-, 2- and 3-bedroom homes offering a multitude of high-quality amenities, including a gym, business center, three pools and a spa, and expansive open areas. The community represents nearly 40% of all apartment inventory in Hacienda Heights.
“This acquisition underscores what is possible when sophisticated capital aligns with a clear purpose, and that positive impact can be married with compelling financial returns to better the communities that we operate within,” said Shahny Lutfeali, a Managing Partner of Eagle Partners. “In addition, we want to thank Kevin Green and the Institutional Property Advisors team for their collaboration throughout the sales process.”

COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Venture on Venetucci, a 336-unit multifamily community in Colorado Springs. Thompson Thrift expects to welcome the first residents in March 2027.
“Colorado Springs continues to stand out as one of the nation’s fastest-growing economies, supported by billions in new investment and thousands of new jobs,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Our newest community reflects that same momentum, bringing Thompson Thrift’s signature blend of quality, luxury and lifestyle to a market that values exceptional living experiences.”
Located at 4446 Venetucci Blvd., the 16.5-acre community will feature spacious one-, two- and three-bedroom apartment homes averaging 1,000 square feet. Each residence will include premium interior finishes such as elegant quartz countertops, stainless-steel appliances, smooth glass-top ranges, timeless tile backsplash and hardwood-style flooring. Residents will also enjoy large walk-in closets, walk-in showers, patio and balcony options, private yard options, detached garages, full-size washers and dryers, high-speed internet access, an Amazon package hub and more.
Resort-style living will continue throughout the community and feature a fully equipped fitness center with 24-hour access, a heated swimming pool, community grilling areas, a pickleball court, billiards, shuffleboard, dog park, pet spa with grooming stations, and a resident business center with a conference room and focus suites.
The site offers stunning views of Pikes Peak and Cheyenne Mountain, along with easy access to nearby trails and an abundance of outdoor recreation. South Academy Highlands, one of the city’s newest shopping centers, will provide residents with retail and fast-casual restaurant options including Sam’s Club, Walmart, MOD Pizza, Jersey Mike’s Subs, and Starbucks. Broadmoor World Arena, an 8,000-seat multi-purpose arena, and Cheyenne Mountain Shopping Center are just a few minutes away and will offer residents with additional shopping and entertainment options.
Venture on Venetucci offers excellent visibility and connectivity to S Academy Blvd., and Interstate 25 provides easy access to downtown Colorado Springs and Colorado Springs Airport. Top area employers include Fort Carson, Amazon Distribution and UCHealth Memorial Hospital Central, all within six miles of the site.
Peak Innovation Park, a 1,600-acre master planned business park near Colorado Springs Airport, is less than five miles from the property and currently has 4,000+ employees across multiple businesses, including three Amazon facilities, Aerospace Corporation and Northop Grumman.
Colorado Springs ranks 5th out of 403 cities nationally on Milken Institute’s 2025 Best-Performing Cities – Economic Resilience and Opportunity report. Since 2022, 23 companies have announced expansion plans in Colorado Springs with development projects that will bring more than 4,000 jobs and over $2 billion in capital investment.
Colorado Springs has made a significant investment in tourism and entertainment, including the new U.S. Olympic & Paralympic Museum, Weidner Field, Ed Robson Arena, the Hybl Sports Medicine & Performance Center and the Air Force Academy Visitor Center. These projects are expected to provide over a billion-dollar economic impact and generate thousands of jobs.

ELIZABETHTOWN, PA – Greystar, a global leader in the investment, development, and management of real estate, announced that its new apartment community The Henry at Klein Mills is now pre-leasing with first move-ins slated for fall.
“We’re proud to introduce a fresh, new housing option to Lancaster County with The Henry at Klein Mills,” said George Hayward, Managing Director of Development at Greystar. “This community represents our first of what we hope are many investments in the fast-growing Lancaster-Harrisburg area. Residents will enjoy an elevated amenity package and in-unit experience, including quieter units, that set us apart from other offerings in the Elizabethtown area, all in a prime location with easy access to Lancaster, Hershey and Harrisburg.”
The Henry at Klein Mills offers one-, two- and three-bedroom layouts that range from 616 sq. ft. to 1,115 sq. ft. Apartment homes feature: Open concept floorplans; Superior soundproofing; Spacious closets; Stainless steel appliances; In-home washer and dryer; Keyless door entry; Smart thermostats; and Pre-installed high-speed internet.
The community is situated in a natural setting with an abundance of trees and green space for residents to enjoy. The Henry’s amenities include: Resident lounge; Top-tier fitness center; Heated swimming pool; Sun deck; Dog park; Community-wide Wi-Fi; EV charging; Bike storage; and 24-hour emergency maintenance.
The Henry at Klein Mills offers a prime location in Elizabethtown, just minutes from Elizabethtown College, downtown shops, Weis Markets, Moo-Duck Brewery and the Campus Ridge Farmer’s Market as well as the Mars factory, the state government in Harrisburg, Masonic Village and other job centers.. Residents enjoy easy access to Lancaster, a vibrant town known for its rich Amish heritage and abundance of handcrafted goods and baked treats.
Nearby Hershey Park delivers fun with its world-class amusement park, concert venue, Hershey’s Chocolate World and one of the largest car shows hosted by the Antique Automobile Club of America. Nearby Harrisburg provides a wealth of career opportunities, museums and entertainment options. Harrisburg International Airport is conveniently located in nearby Middletown.

MABELTON, GA – Vista Residential Partners announced the financing close and groundbreaking of Mill Grove Vista, a three-story, 304-unit Class A, garden-style apartment community at 5178 Floyd Road in Mableton, Georgia. The multifamily development sits at the heart of a forthcoming 23.6-acre mixed-use development that will introduce a civic building, townhomes, and neighborhood-serving retail along Floyd Road, complementing the historic Mable House complex and the 2,500-seat Mable House Barnes Amphitheatre directly across the street.
Residents will enjoy immediate access to everyday conveniences and outdoor recreation, including the Silver Comet Trail’s Floyd Road Trailhead, multiple grocery options within one mile, and swift connectivity via Veterans Memorial Highway, the East-West Connector, and I-20.
“Mill Grove Vista reflects Vista’s commitment to building in walkable, well-amenitized locations where new supply is limited and everyday living is made easier,” said Chase Beasley, Managing Director, Southeast Regional Partner at Vista. “We’re proud to help anchor this civic-oriented master plan in Georgia’s newest city.”
The community will feature twelve residential buildings and 546 parking spaces, offering an expansive fitness center, resort-style pool, clubroom with coffee bar, co-working spaces, secure parcel room, dog park, and playground. Interiors will include stainless steel appliances, luxury countertops and islands, vinyl plank flooring, and open, efficient layouts. Average home size will be 917 square feet, with a mix of one-, two-, and three-bedroom residences.
The development comes via partnership with Virtus Real Estate Capital and financing via Nationwide. Apex Multifamily Construction, a Vista affiliate, will serve as general contractor.
“We are excited to collaborate with both Virtus and Nationwide to provide a community which will truly become the focal point of the largest city in Cobb County. From the Silver Comet Trail to daily conveniences on Floyd Road, Mill Grove Vista is designed for how residents actually live—healthy, connected, and close to everything,” added Scott Henley, CEO Vista Residential Partners.
Vertical construction is expected to commence Q1 of 2026, with first residences expected to deliver in early 2027 and full completion targeted for late 2027.

MADISON, WI – JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced that it has acquired Wrenfield at Pleasant View, a 300-unit luxury apartment community in Madison, Wisconsin. The property was purchased from Continental Properties and brokered by Berkadia. JVM Realty rebranded the property from Springs at Pleasant View to Wrenfield at Pleasant View.
Located at 8504 Mansion Hill Avenue on 17.73 acres, Wrenfield at Pleasant View was completed in 2022 and features townhome-style design with private entries across 15 two-story residential buildings. The community features spacious one-, two-, and three-bedroom floor plans averaging over 1,000 square feet per unit. The property also includes many of the high-end features common to JVM properties, including open kitchens with stainless-steel appliances and granite countertops with undermount sinks; high-end finishes and lighting; designer plank flooring in the living areas; walk-in closets; a large balcony or patio; and in-unit, full-size washers and dryers. Select upgraded units will also feature soaker tubs, subway tile backsplashes, painted accent walls, French door refrigerators, and custom closet organizers.
“Wrenfield at Pleasant View represents another exceptional addition to our Wisconsin portfolio and marks our third acquisition from Continental Properties,” said Jay Madary, president and CEO of JVM Realty. “With limited new supply in the area, robust employment growth, and a highly educated renter base, Madison continues to be one of the strongest multifamily markets in the Midwest. We’re excited to have the opportunity to utilize our award-winning management expertise, our in-house marketing team, and our revenue management capabilities to add value and create a signature experience that supports both investors and residents.”
Residents will also enjoy resort-style community amenities such as a heated swimming pool; a fully equipped 24-hour fitness center; a clubhouse with a kitchen, TVs, lounge seating, and a conference room; a business center; a car wash; valet trash, internet, and package delivery services; a fire pit and outdoor grilling stations; and two on-site dog parks with a pet spa area.
“We take great pride in this community and value our ongoing relationship with JVM Realty,” said Aaron Konop, finance director at Continental Properties. “Their operational strength and commitment to delivering an excellent resident experience make them a trusted steward for its continued growth.”
Located in Madison’s West Madison submarket, near the towns of Verona and Middleton, Wrenfield at Pleasant View offers convenient access to the Beltline Highway and downtown Madison, as well as proximity to major employers including Epic Systems, the leading healthcare software company, whose nearby campus supports 13,000 jobs and is expanding to add 2,000 more. Overall, Madison-area employers support over 232,000 jobs, with more in development. The community also benefits from an abundance of healthcare operators, top-ranked schools, and retail options such as West Towne Mall, which offers more than 125 retail and dining options. Residents can also take advantage of the adjacent 18-acre Midtown Commons Park with its many golf courses, sports fields, hiking trails, pools, and other outdoor recreation.
“Maximum success for us is forging strong and enduring relationships between best-in-class buyers and sellers,” said Pete Evans, senior managing director of investment sales at Berkadia Chicago. “Continental Properties’ trailblazing and brilliant Springs product is a perfect fit for JVM’s expert insight into their markets and ability to maximize perpetual competitive advantages, while driving additional revenue through insightful and proven avenues.”
Madison is the capital and the second most populous city in Wisconsin, and it was recently ranked the #1 Best Place to Live in America by Livability. It consistently ranks as one of the fittest and happiest cities in the country. Additionally, the University of Wisconsin is a major presence in the city, contributing to its vibrant culture, intellectual atmosphere, and diverse population.
Wrenfield at Pleasant View marks JVM’s fourth acquisition in Southeast/Central Wisconsin, further strengthening the firm’s presence across the region. JVM now owns and manages 21 communities throughout the greater Midwest.

ROSEVILLE, CA – CONAM Strategic Investments Fund IV LP, a discretionary fund sponsored by The CONAM Group, announced the acquisition of Sonterra Apartments, a 136-unit multifamily community located in Roseville, California. This purchase expands CONAM’s footprint in the Sacramento region and represents the latest acquisition for Fund IV.
Built in 2001, Sonterra encompasses 136 units across ten two-story garden-style buildings situated on 6.66 acres. The community offers a comprehensive amenity package, including a 24-hour fitness center, resort-style pool and spa, outdoor barbecue area, resident clubhouse and leasing office, outdoor fireplace, picnic areas, package lockers, and a bocce ball court.
Interiors have been extensively upgraded, with 132 of the 136 units featuring hardwood flooring, stainless steel appliances, granite countertops, and modernized cabinetry. Each apartment home includes a private patio or balcony, and second-floor units feature vaulted ceilings up to 16 feet, enhancing the community’s open and suburban feel.
Located in Roseville, California, one of the Sacramento region’s most dynamic and desirable submarkets, Sonterra benefits from exceptional local fundamentals. Roseville offers convenient access to leading medical and technology employment centers, including the Sutter Health and Kaiser Permanente hospital campuses, as well as major employers in the Hewlett Packard Enterprise, Penumbra, and Oracle business corridors. The area’s robust public transportation network, vibrant retail and lifestyle amenities, and highly rated school systems contribute to its enduring appeal among families and professionals alike. Supported by strong household incomes and demographic growth, Roseville continues to outperform much of the greater Sacramento region in both employment stability and quality-of-life metrics.
“Sonterra represents the type of institutional-quality asset that aligns perfectly with our investment strategy — high-performing suburban communities in markets with strong demographics and barriers to new supply,” said Zach Markell, Acquisitions Director, CONAM. “Sonterra further complements our existing portfolio in the Sacramento market where CONAM has been a long-time owner operator.”

IRVINE, CA – Advanced Real Estate, an Irvine-based multifamily investment firm, has acquired The Cove at West Covina, a 138-unit apartment community located in West Covina, California, for $41 million. The purchase expands the company s growing Southern California portfolio, which now exceeds 12,000 residential units across the region. The acquisition reflects Advanced Real Estate s continued strategy of targeting well-located suburban assets with strong value-add potential and stable long-term fundamentals.
“The Cove is well located, with large units averaging over 1,000 square feet. It’s rare to find such an attractive unit mix for under $300,000 per unit,” said Rick Julian, CEO of Advanced.
“West Covina has been a historically strong rental market with abundant retail and employment and very little new competing supply. The last significant new multifamily development was completed over 12 years ago,” said Paul Julian, Rick’s son and president of Advanced. “We see great value in this type of low-density product in the San Gabriel Valley.”
Advanced plans to make significant renovations and upgrades to the property, including the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. These upgrades will be completed by R3 Construction (Advanced’s in-house construction company) and Advanced Management Company (its in-house property management company).
The gated community offers a wide range of lifestyle amenities designed to enhance resident comfort and convenience. Highlights include two resort-style swimming pools with cabanas and lounge areas, a fitness center equipped with state-of-the-art exercise equipment, and inviting outdoor firepits that provide a welcoming social atmosphere. Residents also benefit from a spacious, beautifully landscaped central courtyard, offering open green space for relaxation, recreation, and community gatherings.
This is the first purchase for Advanced’s new Opportunity Fund (Advanced Fund 24-3). The company plans to make more Southern California apartment acquisitions in the coming year.
Advanced’s investment offerings are open to its “friends and family” network, which has now grown to over 1,000 investors. “We have a unique tax-efficient structure, allowing investors to use their trapped retirement funds for the bulk of their investment and leverage a smaller personal contribution of cash,” said Rick. “We are always open to welcoming new investors.”

KENT, WA – MG Properties, a privately held real estate investment company headquartered in San Diego, announced the acquisition of Dockside Apartments, a premier multifamily community situated within the Lakes at Kent master planned community located in Kent, Washington.
Dockside Apartments is a 344-unit garden-style apartment community nestled along the Green River. Offering a unique blend of natural beauty and urban convenience, the property features spacious one-, two-, and three-bedroom residences, with modern interiors, open-concept layouts, and private outdoor spaces. Its scenic setting and proximity to Seattle make it a highly desirable retreat for residents seeking both relaxation and connectivity.
The community boasts an extensive suite of lifestyle amenities, including a resort-style swimming pool, three-level fitness center, clubhouse with lounge and kitchen, outdoor grilling areas, pet park, and more. Dockside Apartments aligns with MG Properties’ ongoing strategy of acquiring high-quality, well-located properties in strong West Coast markets.
“We are excited to add Dockside Apartments to our growing Pacific Northwest portfolio,” said Jeff Gleiberman, President of MG Properties. “Its ideal location, strong resident demand, and potential for continued growth make it a perfect fit for our long-term investment strategy.”
The seller was represented by Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper from CBRE. Financing for the transaction was led by CBRE Capital Markets’ Troy Tegeler and Trevor Breaux.
Dockside Apartments marks MG Properties’ 11th acquisition in the Seattle metro area and further reinforces its commitment to expanding its presence in dynamic, high-growth markets.

VIRGINIA BEACH, VA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the $86 million acquisition of Reflections at Virginia Beach, a 480-unit garden-style multifamily community in Virginia Beach, Virginia. The acquisition is a strategic expansion of HGI’s portfolio in its home state, strengthening its presence in a market where it maintains a proven track record and deep operational experience with similar assets.
Built in 1986, the community spans 19 two- and three-story residential buildings across 30 acres. The property offers a mix of one- and two-bedroom apartments with 828 parking spaces for residents.
Reflections at Virginia Beach recently underwent a $7 million capital improvement program, enhancing its robust suite of amenities, including a resident clubhouse and lounge, an outdoor swimming pool, a 24-hour fitness center, a business center with meeting rooms, outdoor grilling stations and access to nearby nature trails. The property is also a short drive to the Virginia Beach oceanfront.
“The acquisition of Reflections at Virginia Beach underscores our commitment to expanding thoughtfully in markets where we have long-standing experience and strong performance,” said Yisroel Berg, Chief Investment Officer of Multifamily at HGI. “Virginia Beach is a dynamic market with robust employment and lifestyle fundamentals, making it an ideal location for our continued growth.”
Located just 15 minutes from HGI’s corporate headquarters in Norfolk, the acquisition builds on the firm’s established local presence. The company currently owns or manages over 1,400 units across five properties within the Hampton Roads metropolitan area.

WASHINGTON, DC – The NHP Foundation (NHPF), in partnership with CHV ownership entities—Change All Souls Housing Corp. and the Columbia Heights Village Tenants Association (CHVTA) announced the development of 1425 Harvard Street NW, the former parking lot of Columbia Heights Village apartments.
The ownership group closed on construction financing in July 2025 and construction began shortly thereafter. When completed in mid-2027, the development will deliver a new seven-story, 108-unit affordable housing community designed by Shalom Baranes Associates, PC, and built by McCullough Construction, LLC, bringing critically needed homes to one of Washington, D.C.’s most cost-burdened neighborhoods.
The 108-unit Harvard Court development is backed by a strong public-private partnership. The District of Columbia Housing Finance Agency (DCHFA) issued $48.26 million in tax-exempt bonds and underwrote more than $41 million in federal and DC Low-Income Housing Tax Credit (LIHTC) equity. Financing partners include Hudson Housing Capital, Bank of America, DCHFA, and the DC Department of Housing and Community Development (DC DHCD).
DC DHCD further strengthened the project with $24.29 million from its Housing Production Trust Fund 2022 NOFA, ensuring Harvard Court plays a major role in advancing the city’s affordable housing pipeline.
“This development reflects NHPF’s strategy of leveraging underutilized land within our existing portfolio to maximize housing production in ways uniquely designed for specific neighborhoods,” said Eric Price, President & CEO of NHPF, “It is exactly the kind of creative solution we need in high-cost areas like Columbia Heights.”
Harvard Court will deliver 100% affordable apartments, expanding opportunities for families and individuals at a range of incomes.
Located in the heart of Columbia Heights, Harvard Court responds to skyrocketing rents and displacement pressures by ensuring long-term affordability. The project will complement the existing Columbia Heights Village community, preserving neighborhood diversity while adding new homes and amenities.