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.

DURANGO, CO – Olympus Property has strengthened its presence in Durango, Colorado, with the acquisition of Confluence at Three Springs, a 171-unit, Class A apartment community located within the highly sought-after Three Springs master-planned development. Built in 2016, the property delivers a modern, lifestyle-oriented living experience in one of Colorado’s most supply-constrained housing markets.
This transaction represents Olympus’ second acquisition in the Durango market and advances the firm’s strategy of concentrating investment in submarkets where it maintains operational scale and local expertise. With Rocket Pointe under management since 2021, Olympus is positioned to drive operational efficiencies, leverage regional synergies, and enhance asset performance across both properties. The firm’s vertically integrated platform will support streamlined execution, long-term value creation, and compelling returns.
Durango’s substantial affordability gap, where median home values exceed $730,000 and renters enjoy a $4,000+ monthly cost advantage, alongside a 19% rent-to-income ratio at Confluence, reinforces the property’s appeal as a high-quality, attainable housing option in a high-barrier market.
“Durango has consistently demonstrated healthy supply-demand fundamentals, with strong rent-to-income dynamics and enduring appeal as both a lifestyle and workforce destination,” said John Vu, Director of Acquisitions at Olympus Property. “The acquisition of Confluence reflects our strategic interest in high-barrier, high-quality markets where our local presence and operational depth position us to deliver durable results. The strength of the Three Springs master plan and the property’s connectivity to major employers and outdoor amenities make it an ideal long-term investment for our portfolio.”
Confluence is situated near Mercy Regional Medical Center and Fort Lewis College, two of the area’s primary economic anchors, and benefits from proximity to year-round tourism, recreational assets, and ongoing public and private investment. The planned Mesa Park development will further strengthen this ecosystem, adding an events center, amphitheater, and expanded regional trail network by 2027.

ANN ARBOR, MI – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has partnered with Manulife Investment Management (Manulife IM) to construct The Metropolitan on South U, a 259-unit student housing community at 1208 South University Ave. This project represents the sixth project in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool.
Construction will begin imminently. Landmark Construction, the in-house general contractor for Landmark Properties, will build the project with Myefski Architects serving as architect. Peninsula Investments also partnered on the project, adding to their investments across Landmark’s portfolio of student housing communities.
“We are excited to move forward with construction on The Metropolitan on South U and bring much needed housing to the Ann Arbor market as enrollment growth at the University of Michigan remains steady,” said Jason Doornbos, Chief Development Officer of Landmark Properties. “The well-located community is poised to add renewed vibrancy to the university ecosystem in Ann Arbor.”
The Metropolitan on South U is steps from the University of Michigan’s Ross School of Business, the Michigan Diag, and a variety of shopping, dining, and entertainment options. Fully furnished residences will feature quartz countertops, hardwood-style laminate floors, stainless steel appliances, in-unit laundry, and will come prewired for internet and cable access.
“We are proud to expand our partnership with Landmark with this development at the University of Michigan, supported by strong local market fundamentals and a premier location adjacent to campus,” said Jonathan Kimball, Associate Director at Manulife IM.
“We are excited to partner with Landmark on our second development at the University of Michigan, and ninth in 2025. Its proximity to Ross School of Business makes it an ideal location within Ann Arbor, a market with strong market fundamentals,” said Juan Fernando Valdivieso, Managing Director of Peninsula Investments.
Community amenities will include a well-appointed clubhouse, modern fitness center, resort-style pool and rooftop lounge with a variety of seating options. The Metropolitan will also include approximately 5,000 square feet of ground-floor retail space.

DENVER, CO – Security Properties, the leading real estate investment firm in the Pacific Northwest, has acquired Rosemont West 84th, a 300-unit garden-style community in Federal Heights, Colorado, for $51,025,000. The purchase marks the firm’s eighth market-rate acquisition of 2025, pushing year-to-date deployment to nearly $700 million and reinforcing its position as one of the most active multifamily buyers in the country this year.
Located eight miles north of Downtown Denver, Rosemont West 84th offers direct access to I-25 and U.S. 36, connecting residents to major employment centers in Denver, Boulder, and the Interlocken Business Park. The property includes a diverse mix of studios, one-bedrooms, lofts, two-bedrooms, and townhomes, with nearly 90% of units already renovated with upgraded finishes and modern features.
Security Properties originally acquired Rosemont in 2017 and sold it in 2021 during a period of peak pricing. Regaining ownership at approximately one-third below its 2021 sale price and more than 50% below replacement cost underscores the firm’s disciplined investment approach and ability to act quickly when market conditions create rare, high-value opportunities.
“This acquisition highlights our ability to move decisively when we identify opportunities that align with our long-term investment philosophy,” said Mark Bates, Chief Investment Officer at Security Properties. “Our familiarity with Rosemont and deep knowledge of the Denver market allowed us to underwrite the opportunity with precision — a capability our investors and partners consistently rely on.”
The acquisition also expands Security Properties’ long-standing presence in the Denver region, which the firm first entered in 2010. Rosemont becomes the 13th property the company has owned in the metro. While overall investor interest in Denver has softened, Security Properties remains bullish based on historical performance, strong in-place demand drivers, and a sharply constrained supply pipeline. The Federal Heights submarket is among the tightest in the region, with just 313 new multifamily units delivered within a three-mile radius since 2019 and no current market-rate construction, a dynamic that supports long-term rent stability.
“Even as Denver moves through a period of normalization, its long-term fundamentals remain compelling,” Bates said. “A young, highly educated workforce, a widening affordability gap between renting and owning, and a notable slowdown in new supply point to sustained demand for well-located rental housing. We believe this is exactly the right moment to lean in.”
The acquisition reflects Security Properties’ broader strategy of expanding across key growth markets with a disciplined and focused approach. The firm’s relationships, regional expertise, and ability to provide executional certainty continue to highlight the firm’s unmatched sourcing and underwriting capabilities, especially in competitive or complex transaction environments.
“Our integrated team and decades of experience allow us to uncover and execute on opportunities that generate strong long-term outcomes,” Bates said. “We’re committed to growing our presence in Denver with the same thoughtful, disciplined approach that has defined our success in the Pacific Northwest.”

PHILADELPHIA, PA – GMH Communities, a vertically-integrated real estate company, and AEW Capital Management, a global real estate investment firm with over $82 billion in assets under management, announced their joint acquisition of two student housing communities: Dockside at Clemson University in Clemson, South Carolina and Flatiron at Louisiana State University (LSU) in Baton Rouge, Louisiana. Both properties are located near their respective campuses, offering convenient access and are outfitted with Class-A amenities.
With the addition of the Clemson and LSU communities, the AEW-GMH partnership will now own and operate more than 2,000 beds across four universities in Power 4 markets.
“For 40+ years, GMH has been a leader and innovator in the student housing industry,” said Gary Holloway, Jr., chief executive officer and president, GMH Communities. “We stay ahead of trends in the industry and understand what students seek in a community. The acquisition of Dockside and Flatiron underscores GMH’s commitment to investing in high-quality, well-located assets within fundamentally strong markets.”
“AEW is thrilled to expand its student housing portfolio in partnership GMH,” said Adam Schwank, portfolio manager and managing director at AEW Capital Management. “Dockside and Flatiron exemplify the attributes we seek in high-performing student housing assets: modern construction, generous common area spaces for students and prime locations adjacent to growing Power 4 universities.”
The 633-bed Dockside community will be rebranded as The Cove at Clemson, offering a premier lakefront setting with direct access to Lake Hartwell. In Baton Rouge, the 293-bed Flatiron community is recognized as one of the market’s few pedestrian-oriented housing options, offering convenience just steps from the LSU campus.
The off-campus, purpose-built student housing markets at Clemson and LSU continue to experience a demand driven by growing university enrollments and a desire for quality off-campus housing. Through this partnership, GMH and AEW aim to further enhance the living experience for students by creating environments that foster both academic and social success.

DALLAS, TX – Ashcroft Capital, a fully integrated multifamily investment firm, announced its acquisition of Birchstone Cedar Ridge, a luxury garden-style community in Dallas built in 2024. Ashcroft’s affiliate property management arm, Birchstone Residential, is now providing services for the residents of the community. The acquisition was completed through a joint venture that includes Pearlmark Real Estate and Temerity Strategic Partners. This acquisition marks the second in 2025 between Ashcroft and Pearlmark.
The Class-A property (formerly Jefferson Cedar Ridge) features 360 apartment homes and becomes Ashcroft’s 20th multifamily property in the Dallas-Fort Worth metroplex.
“We are excited to expand our Birchstone brand with the acquisition of Cedar Ridge apartments,” said Frank Roessler, founder and CEO of Ashcroft. “Through our ongoing partnership with Pearlmark and Temerity, we continue to acquire high-quality, institutional-grade apartment communities, and this property fits well within our investment strategy. We are targeting luxury communities in our metros at a strong discount to replacement cost. Properties like Cedar Ridge will allow us to showcase our customer service, which supports strong rent growth and retention.”
Located at 6165 Ridge Center Drive, Birchstone Cedar Ridge features one-, two- and three-bedroom homes ranging from 660 to 1,541 square feet. Community amenities include a resort-style pool with cabanas, outdoor kitchen and grill areas, enclosed dog park, 24-hour fitness center with cardio and strength stations, business center, EV-charging station, 24-hour emergency maintenance service and community clubhouse. The community also offers furnished apartments, flexible payment options and pet, housekeeping and delivery services.
Homes feature undermount kitchen sinks with gooseneck faucets, granite counters, white and gray shaker cabinets, modern pendant lighting, ceiling fans, plush carpeting, hardwood-style flooring and smart thermostats.
“Birchstone Cedar Ridge is an outstanding addition to our portfolio,” said Scott Lebenhart, chief investment officer of Ashcroft. “It has a wide array of onsite features that should serve to attract and retain residents, and it’s located in an area with great shopping, award-winning schools, museums and parks. With our strong presence in the Metroplex, Birchstone Cedar Ridge will also benefit from our economies of scale and operational efficiencies in the area.”
“We are proud to continue our relationship with our valued joint venture partners through the acquisition of Birchstone Cedar Ridge,” said Stephen Quazzo, CEO and co-founder of Pearlmark. “This is truly a best-in-class asset that offers a unique resident experience in this submarket. With the experience and expertise that Ashcroft and Birchstone Residential have in the Dallas-Fort Worth market and their dedication to premium resident service, we believe this property will perform extremely well.”
In addition to Texas, Ashcroft owns communities throughout Florida, Georgia and North Carolina. The company is actively pursuing additional markets in the Sun Belt.

ATLANTA, GA – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Wrenly, a 214-unit multifamily community in the Atlanta suburb of Newnan. The company expects to welcome its first residents in April 2027, and construction completion is projected for early 2028.
“Coweta County’s entitlement process is grounded in thoughtful planning and community priorities, and we’re honored that our collaborative approach earned the trust and support needed to move this development forward,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are excited for Wrenly to deliver high-quality, luxury housing that supports the continued growth and momentum of the Newnan community.”
Located at the northeast corner of Newnan Crossing Boulevard and Newnan Crossing Court, the 28.6-acre community will include six residential buildings in one-, two-, and three-bedroom configurations. The apartment homes will average approximately 1,000 square feet and feature designer fixtures and finishes, including elegant granite countertops, stainless-steel appliances, smooth glass-top ranges, timeless tile backsplash, full-size washers and dryers, and hardwood-style flooring, as well as patio, balcony, and private yard options.
Resort-style living will continue throughout the community and feature a fully equipped fitness center with 24-hour access, firepit with seating areas, a swimming pool with an integrated waterfall, and a built-in seat wall adjacent to the firepit. Community grilling areas, pickleball court, dog park, pet spa with grooming station, and a resident business center with focus suite will also be available for residents to enjoy.
Major employers near the site include Piedmont Newnan Hospital, Yamaha Motor Manufacturing, Amazon Distribution Center, Southeastern Regional Medical Center, just to name a few. Significant investments not far from the site include Piedmont Newnan Hospital’s $65 million south tower expansion, and the U.S. Soccer National Training Center, a $200 million, 200-acre development expected to open in 2026 that will create approximately 400 jobs and include more than 200,000 square feet of high-performance facilities, locker rooms, meeting rooms and headquarters space for employees.
In the past 10 years, Coweta County has seen limited multifamily deliveries, representing only 1.4% of the overall multifamily deliveries across the Atlanta MSA during the same period, while population growth exceeded 21% throughout the last 15 years and is expected to grow another 5.6% over the next five years. This strong population growth has led to a shortage of housing options for new residents, making Wrenly a great addition to the Newnan market.

HYATTSVILLE, MD – EJF Capital, a global alternative asset management firm with approximately $5.6 billion of assets under management, announced the completion of construction at The Bellevue, a 361-unit, multifamily development located in Hyattsville, Maryland. This is the fifth project delivered within EJF s OpZone Fund II and reflects the Firm s continued expansion into high-growth, metropolitan Qualified Opportunity Zone ( QOZ ) markets.
Developed in partnership with The NRP Group, The Bellevue is situated in one of Prince George s County s most dynamic residential corridors, a neighborhood propelled by ongoing economic development and expanded access to employment centers throughout the Washington, D.C. metro area. Long-term demand for high-quality housing in Hyattsville results from proximity to the University of Maryland, a vibrant arts district, and dynamic retail and dining options.
The newly delivered community features studio, one-, two-, and three-bedroom apartments along with a comprehensive amenity suite, including a fitness center, clubroom, co-working lounge, landscaped courtyards, and structured parking.
We are pleased to bring The Bellevue to completion as we invest in high-quality housing within supply-constrained and growing communities, said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. Hyattsville s strong demographic and employment trends make it a highly attractive market, and The Bellevue reflects our commitment to delivering thoughtfully designed multifamily communities with best-in-class partners.
The Bellevue joins EJF Capital s growing portfolio of multifamily and industrial developments within QOZs nationwide. Since 2018, EJF has invested in 24 multi-family and commercial developments across the country, including five completed developments in the OpZone Fund II, aligned with the firm s strategy of develop institutional-quality properties in markets positioned for sustained growth.

ORLANDO, FL – Halstatt Real Estate Partners, a real estate private equity firm, announced the acquisition of Isles at East Millenia, a 200-unit multifamily community located in Orlando, Fla. The property was acquired in partnership with GoldOller Real Estate Investments, a long-standing Halstatt partner.
Orlando continues to post exceptional job and population growth, fueled by its robust leisure and hospitality sector, said Steven Iannaccone, managing principal, Halstatt Real Estate Partners. While much of the region s new supply targets Class A renters, Isles at East Millenia meets the growing demand for quality workforce housing in one of Orlando s most dynamic submarkets. The asset s location and fundamentals make it an ideal fit for our value-add strategy.
The partnership plans to implement a comprehensive renovation program, upgrading the units that remain in original condition with new appliances, countertops, and contemporary finishes, along with exterior repainting, landscaping, and other site enhancements. This marks Halstatt s fourth value-add repositioning alongside GoldOller, which manages more than 40,000 apartment units across ten states and brings deep operational experience within the Orlando market, including more than 750 units currently under management.
Halstatt Real Estate Partners invests in value add and opportunistic real estate projects across Florida, Texas, and the Southeast, partnering with experienced sponsors to reposition assets and strengthen portfolio performance. In addition to its multifamily investments, Halstatt has been an early mover in the build-to-rent sector, with seven projects totaling more than 1,350 units across Florida, Texas, and Ohio.