Tuesday, July 28, 2026
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Multifamily

Moontower-Austin
AcquisitionsMultifamilyStudent HousingTexas

Ocean West Acquires 18-Story Student Housing Building Near UT Austin

by Taylor Williams

AUSTIN, TEXAS — An investment group led by Ocean West Capital Partners has acquired Moontower, an 18-story student housing building serving the University of Texas at Austin. Lincoln Ventures recently completed the property, which offers 567 beds and opened before the fall 2020 semester at near 100 percent occupancy. Amenities include a rooftop pool and lounge, a fitness center with yoga and spin studios, coffee bar, study lounge and private study rooms. Ryan Lang and Jack Brett of Newmark represented Lincoln Ventures in the sale.

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Acoya-Scottsdale-Troon-Scottsdale-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

Ryan Cos., Cadence, Starwood Complete Construction of 135-Unit Seniors Housing Project in Arizona

by Amy Works

SCOTTSDALE, ARIZ. — The joint venture team of Ryan Cos. US, Cadence Living and a controlled affiliate of Starwood Capital Group has completed construction of Acoya Scottsdale at Troon in Scottsdale. The community features 135 independent living and assisted living units in 22 floor plans ranging from 585 square feet to 2,385 square feet. The new community is situated on six acres of land between Pinnacle Peak and Troon Mountain. Thoma-Holec Design handled the interior design. This is the second Acoya-branded community in Arizona, and several more are planned according to the developers. Cadence Living is the operator.

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Olive-Tree-Holdings
FeaturesMultifamily

What Defines A Sound Multifamily Investment Strategy?

by Taylor Williams

By Yuriy Gelfman, principal at Olive Tree Holdings Real estate investing is best viewed through the relatable lens of child rearing. An investment enters life with two parents — a limited partner (LP) and a general partner (GP). The parents really want their little investment to do well in life. The investment’s journey through life is full of obstacles and potential dangers, but through this metaphor, we can breathe life into a topic that can be dry on paper. Pre-Birth Planning An investment is born out of the good intentions of the GP. But how does the GP select the right opportunity to invest in? In the multifamily segment, there are 13 million apartments contained in large communities split among tens of thousands of properties in several hundred markets. This really is a lot of real estate. It’s important to not fall in love with any opportunity based on arbitrary or subjective reasons. We seek opportunities that are: 1) scaled 2) located in growth markets 3) acquireable at a large discount to replacement cost and 4) are underperforming immediate peers. Each acquisition takes a significant amount of time to identify, negotiate, arrange financing for, staff, asset manage, construct and ultimately …

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AcquisitionsMultifamilySoutheastTennessee

Cushman & Wakefield Arranges $47M Sale of Multifamily Community in Knoxville

by John Nelson

KNOXVILLE, TENN. — Cushman & Wakefield has arranged the $47 million sale of The Village at Westland Cove, a 240-unit multifamily community in Knoxville. The property offers one-, two- and three-bedroom floor plans ranging from 717 square feet to 1,521 square feet. Communal amenities include a business center, pool, clubhouse, fitness center, car washing area, dog park, pet washing area and storage space. Jimmy Adams and Robert Stickel of Cushman & Wakefield represented the seller, StoneRiver Co., in the transaction. H3 Real Estate Advisors acquired the property.

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DevelopmentMassachusettsMultifamilyNortheastSeniors Housing

DiMella Shaffer Completes Second Expansion at Seniors Housing Property in Lexington, Massachusetts

by Taylor Williams

LEXINGTON, MASS. — DiMella Shaffer, a Boston-based architecture and design firm, has completed its second expansion project for the 26-acre Brookhaven at Lexington seniors housing community located north of Boston. The project featured renovations to all common areas, and expansion and improvements to the assisted care and long-term care facility. A four-story wing that houses new amenities has also been added. Brookhaven Senior Living owns the property.

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The-Destino-Grand-Prairie
AcquisitionsMultifamilyTexas

IPA Arranges Sale of 192-Unit Destino Apartments in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Destino, a 192-unit apartment community located in the central metroplex city of Grand Prairie. Built on 11 acres in 2000, the garden-style property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground and a dog park. Drew Kile, Will Balthrope, Joey Tumminello, Grant Raymond and Asher Hall of IPA, along with Al Silva of Marcus & Millichap, represented the seller, MBP Capital, in the transaction. The team also procured Capital Vision Management LLC as the buyer.

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Luxe-at-Las-Colinas
DevelopmentMultifamilySeniors HousingTexas

Story Senior, MPH Partners Underway on 140-Unit Seniors Housing Project in Irving

by Taylor Williams

IRVING, TEXAS — A partnership between Story Senior Ltd. and MPH Partners LLC is underway on construction of The Luxe at Las Colinas, a 140-unit active adult project that will be located at the intersection of State Highway 161 and North Belt Line Road in Irving. The community will span approximately 149,000 square feet and offer one- and two-bedroom units ranging in size from 644 to 1,112 square feet. Amenities will include a pool, fitness center, library, medical clinic, wellness café, activity center and media room. Moss Construction is the general contractor for the project, which is expected to be complete in November 2021. Active adult communities are age-targeted or an age-restricted developments designed for people 55 or older that typically feature single-family, detached residences.

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AcquisitionsMidwestMissouriMultifamily

Watermark Residential Sells 276-Unit Apartment Community in Suburban Kansas City for $60M

by Kristin Harlow

NORTHLAND, MO. — Watermark Residential, a wholly owned affiliate of Thompson Thrift, has sold Watermark at Tiffany Springs in suburban Kansas City for $60 million. The 276-unit, Class A apartment community is located at 9641 N. Ambassador Drive in Northland. The property features one-, two- and three-bedroom units. Amenities include a pool, clubhouse, outdoor firepit area, dog park and fitness center. The buyer was an entity controlled by A&C Ventures Inc., a private investment firm based in Sonoma, Calif. Mac Crowther and Whittaker Potts of Newmark represented Watermark in the sale.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $5.8M Sale of Luxury Apartment Building in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has arranged the sale of a 12-unit luxury apartment building in Chicago’s Lincoln Park neighborhood for $5.8 million. The price per unit of $481,250 is the highest in the submarket in four years, according to CoStar. The asset was built in 2017 as condos but has always operated as a rental property. It is located at 1513-17 W. Diversey Parkway. Jeremy Morton and Ted Stratman of Interra represented the seller, a local real estate developer. A California-based private investor purchased the property while completing a 1031 exchange. The building was fully leased at the time of sale.

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Entrada-Apts-Tucson-AZ
AcquisitionsArizonaMultifamilyWestern

Thayer Manca Residential Acquires Entrada Apartments in Tucson for $65.5M

by Amy Works

TUCSON, ARIZ. — Thayer Manca Residential (TMR) has purchased Entrada Apartments, a multifamily property located at 4545 N. Via Entrada in Tucson. An undisclosed seller sold the asset for $65.5 million. Built in 1983 and 1985 on 19.8 acres, Entrada Apartments features 424 residential units spread across 28 buildings, a clubhouse and office building. TMR plans to implement a $4.9 million renovation and repositioning program including a full marketing rebrand; a high-end renovation scope for the remaining classic units; the addition of washers and dryers to units without them; a modernization of the 24-hour fitness center; enhancement of the pet park and sports court; the addition of package lockers; and the completion of a variety of capital upgrades.

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