Stoneweg US Acquires Prose Frontier, Aims to Foster Sustainable Communities with Renamed Prosper Crossings Multifamily Project Valued at $2.1B AUM

Stoneweg U.S., an American real estate investment and development firm focusing on workforce housing sector projects with enhanced ESG commitments, has procured the Prose Frontier. The asset valued at $2.1 billion is soon to be rechristened as Prosper Crossings. The newly acquired property lies in Collin County, Texas, and features ten three-story buildings spread across 15 acres, developed by Alliance Residential and Carlyle. The development further features environmentally friendly improvements like EV charging stations and a solar panel array, along with upgraded community amenities.

Groundbreaking Build-for-Rent Community Set to Redefine Multifamily Living in Glendale, Arizona

Capital Square and Sunstone Two Tree have announced a new build-for-rent community named Ironwood Homes at Rosefield in Phoenix, Arizona. The 29-acre development will host 320 single-family rental homes, a blend of larger units, dedicated parking, and private yards with renting convenience. Anticipated to open in summer 2025, it aims to provide an array of amenities. The skyrocketing population growth and an acute shortage of high-quality single-family rental options in Phoenix make this a favorable investment opportunity.

Passco Companies Acquires Cortona at Forest Park, Amplifying St. Louis’s Momentum in Multifamily Real Estate Opportunities

Passco Companies, a California-based commercial real estate enterprise, has acquired the 278-unit Class-A Cortona at Forest Park apartment community in St. Louis, Missouri. This major acquisition highlights the potential in the dynamic urban center's real estate market, with the premium property situated close to Forest Park, Clayton, and Central West End. Its invaluable location and top-tier amenities have attracted a robust occupancy rate of 93%. The transaction was facilitated by JLL Capital Markets and financed by KeyBank Real Estate Capital's Commercial Mortgage Group.

Capital Square and May Riegler Properties Pave the Way for Thriving Communities with Successful Phase One Completion of Steamboat Basecamp Project

Capital Square and May Riegler Properties have completed the first phase of Steamboat Basecamp, a mixed-use multi-family development featuring 75 rental apartments and over 8,343 sq ft of unique retail space. The rapid lease uptake, with 80% of apartments already occupied, reinforces the high demand for residential real estate in Steamboat Springs. This development is especially significant due to the region's chronic housing shortage. With the inclusion of numerous amenities for residents and plans for additional townhouses, Capital Square continues to make notable contributions to the national multifamily housing landscape.

Groundbreaking Ceremony Sets Precedent for Affordable Housing with Lincoln Avenue Communities in Manchester, New Hampshire

Lincoln Avenue Communities (LAC) has begun construction of The Residences at Chestnut, a 142-unit affordable housing development in Manchester, New Hampshire. The project, LAC’s first ground-up development in the region, addresses the state's ongoing housing crisis. The Residences will include 106 apartments for households earning below 60% of the area median income and 36 units with project-specific vouchers, including 30 for veterans and their families. The project also features an underbuilding parking garage, a roof deck, fitness center, and bike storage and is set for completion in 2025.

Groundbreaking Oak Grove Vista Marks New Era in Multifamily Development in McDonough, Georgia

Vista Residential Partners has launched the first phase of Oak Grove Vista, a mixed-use development in McDonough, Georgia. Partnering with Atlantic American Partners, Township Capital, Trustmark Bank, and First National Bank, this multi-use project will blend 348 multifamily units and 40,000 square feet of commercial space. Key amenities include a leisure area with a pool, gym, and club room. Strategically located near I-75, the development will support over 75,000 logistics and e-commerce jobs and is set to reshape suburban landscapes in the region.

Wood Partners Unveils Alta Cypress Springs: A New Standard of Luxury Multifamily Living in Houston’s Thriving Suburbs

Wood Partners, a national multifamily real estate development leader, has celebrated the grand opening of Alta Cypress Springs, a luxury residential community in Houston, Texas. The strategically located development provides easy access to key commute routes and amenities, including top-tier schools in the Cypress-Fairbanks Independent School District and headquarters of major employers. The 330-unit property, designed by boutique architectural firm Design Balance, offers high-end finishes, on-site amenities, and high-speed internet hotspots, while being surrounded by green spaces for recreation.

The REMM Group Reclaims Management Reins for Lincon Village Apartment Community: A Masterstroke in Multifamily Property Management Innovation

Noteworthy property management firm, The REMM Group, has secured its second management contract for the illustrious Lincoln Village Apartment Community in Riverside, California. Originally involved during the community’s 2020 lease-up phase, the firm demonstrated impressive resilience and expertise, achieving exceptional sales results. Lincoln Village, boasting 180 luxurious units and a multitude of exceptional facilities, lies near Riverside's historic district. The REMM Group CEO, Sara D'Elia emphasises their commitment to providing premier living experiences for residents and is enthusiastic about their reinstatement, noting improved community engagement and higher occupancy rates.

ECI Group Executes Successful Sale of Revamped The Columns at Westchase to Mosaic Residential: A Triumph of Multifamily Real Estate Investment and Enhancement

ECI Group has successfully sold The Columns at Westchase apartment community in Houston, TX to Mosaic Residential. Acquired by ECI in 2018, the community received numerous renovations, enhancing apartments with high-end finishes and updating community amenities. The sale marks a key achievement reflecting ECI's commitment, insights, and efforts. ECI’s chief acquisitions officer, Scott Levitt, expressed pride in the successful repositioning of The Columns, and affirmed plans for future investments in Texas' vibrant market.