HALTOM, TX – Rise48 Equity, a leading multifamily investment group, announced the acquisition of Mosaic Apartments in the DFW area of Texas. This 288-unit complex marks a significant milestone as the company’s 50th acquisition since 2019 and its 10th in the Dallas MSA, further expanding their strong presence in Texas.
Rise48 Equity has plans to revitalize Mosaic Apartments, soon to be rebranded Rise Fossil Creek, with an investment of over $7 million. Property renovations include:
Platinum-level interior upgrades: New shaker doors, quartz countertops, plumbing fixtures, stainless steel appliances, vinyl flooring, and updated lighting.
Transformative exterior: Fresh 3-tone paint, pool area improvements, leasing office & clubhouse upgrades, landscaping enhancements, a new LED-backlit monument sign, and new marketing banners.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have acquired Mosaic Apartments off-market at a great basis. It’s a very strong submarket and a great asset with a lot of upside. We want to thank our investors for partnering with us on this deal, and we will immediately begin to execute our business plan.”

BETHESDA, MD – JBG SMITH announced that the Impact Pool, the affordable housing investment platform it manages, has helped create and preserve more than 3,000 units of quality workforce housing across the Washington region since 2020, outpacing its goal to deliver 3,000 units by 2025 and with capital remaining to invest in additional units.
The Impact Pool has surpassed what we set out to achieve – the creation and preservation of affordable homes for thousands of workers in communities throughout the Washington region, and we are proud to have reached our goal ahead of schedule and with additional funds to continue our efforts, said AJ Jackson, EVP of Social Impact Investing at JBG SMITH. This is a moment of celebration and provides impetus to keep going. Investing at scale allows us to have a meaningful impact, and this milestone reinforces our commitment to preventing displacement and preserving affordability in rapidly changing neighborhoods vulnerable to rising housing costs. Consequently, we plan to continue to finance workforce housing through other vehicles even after the Impact Pool s funds have been fully deployed.
The 3,000+ units include: Parkstone Alexandria (Alexandria, VA) 326 units; Crystal House (Arlington, VA) 825 units; Hamilton Manor (Hyattsville, MD) 245 units; Huntwood Courts (Washington, DC) 214 units; Earle Manor (Wheaton, MD) 140 units; The Gale Eckington (Washington, DC) 603 Units; Loree Grand (Washington, DC) 212 units; Falkland Chase (Silver Spring, MD) 268 units; Franklin Apartments (Takoma Park, MD) 185 units.
Launched by JBG SMITH in 2019, the Impact Pool is a key component of the Washington Housing Initiative (WHI) created by JBG SMITH and the Federal City Council. The Impact Pool, managed by a subsidiary of JBG SMITH, leverages private capital to help combat the loss of housing for middle-income families. The Impact Pool works with non-profit and for-profit mission driven sponsors to acquire privately owned and unsubsidized housing that s affordable to everyday working households, lock in affordability, invest in the buildings, and operate them using strategies designed to stabilize residents rather than push rents.
The Impact Pool surpassed its goal with the deployment of $6 million in mezzanine financing to Montgomery Housing Partnership (MHP) for the refinancing of Franklin Apartments, a 185-unit age-restricted housing community in Takoma Park, MD. Concurrent with the closing of the Impact Pool s loan, the property obtained a new $26.2 million Freddie Mac loan, provided by Key Bank, along with an extension of an existing $3.75 million soft loan from Montgomery County.
The Franklin Apartments investment is a perfect example of what we sought to accomplish when we created the Impact Pool. Montgomery County is projected to lose up to 11,000 naturally occurring affordable housing units by 2030. Our collaboration with a non-profit owner, dedicated to the property s preservation, will provide residents with the ability to age in-place in a resource rich neighborhood of Montgomery County, commented Jackson.
Located at 7620 Maple Avenue in Takoma Park, MD, the Class B mid-rise Franklin Apartments was built in 1952 and renovated in 2011. The building was acquired by MHP in 2022 and is currently managed by Humphrey Management. The property includes 135 parking spots, green community features, a grilling area, and multi-purpose entertainment room and is pet friendly. MHP provides onsite resources to residents including the operation of a food pantry, health and safety seminars, and programming.
MHP is a 501(c)(3) non-profit organization serving more than 4,000 residents of Montgomery County and neighboring communities by providing more than 2,880 quality affordable homes. The organization is committed to housing people, empowering families, and strengthening neighborhoods. Since 1989, MHP s mission has been to preserve and expand access to quality, affordable housing.
The Impact Pool previously partnered with MHP to provide financing for the 140-unit Earle Manor apartments, located in Wheaton, MD.

CORAOPOLIS, PA – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced its third Ltd.-branded apartment community, Ltd. Findlay, is now preleasing. Located in Coraopolis, PA, Ltd. Findlay is the first property comprised entirely of apartments created in the Modern Living Solutions (“MLS”) factory – Greystar’s modular construction business focused on building off-site, prefabricated modular apartments sustainably and at an attainable price point under Greystar’s dedicated impact housing brand, Ltd. by Greystar.
“Ltd. Findlay is a significant milestone for Greystar and Modern Living Solutions,” Andy Mest, Managing Director of Development, Modern Living Solutions at Greystar, said. “This is our first Ltd. community that is built entirely from modular construction. Each apartment is comprised of two to four modules that are built at the MLS factory in Knox, PA, and then driven to the community site and assembled. This allows us to deliver an attainable product that is also more sustainable due to reduced construction waste.”
Ltd. Findlay offers the easy living experience and amenities that residents expect in a Greystar community, with rents that are lower than typical multifamily housing in the area. The modular construction, combined with cutting-edge technology at the property, deliver an experience that sets Ltd. apart from most of the existing attainable housing supply in the United States. Each Ltd. community and apartment includes property-wide high-speed internet, smart locks, and resident apps that streamline everything from maintenance requests to guest access. Amenities include a community pool and fitness center for residents to enjoy.
Ltd. Findlay offers one-, two- and three-bedroom floorplans that range from 662 sq. ft. to 1,373 sq. ft. The community is conveniently located in close proximity to Robert Morris University, Pittsburgh International Airport, Robinson Mall and the headquarters of both FedEx Ground and Dick’s Sporting Goods.
“Our Ltd. brand is Greystar’s solution to the lack of housing supply for the middle of the market,” said Scott Berka, Senior Managing Director, Brand and Customer Experience at Greystar. “Ltd. Findlay is the latest example of our commitment to delivering rental housing that combines the opportunity to live in a professionally managed Greystar community with the promise of limited future rent increases while living in an Ltd.-branded property.”

VERO BEACH, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of Verity, a 276-unit Class A multifamily community in Vero Beach. The company intends to begin construction this month, with completion expected in summer 2026.
“Despite significant demand for housing options in the Vero Beach community, supply has not kept pace in recent years,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are pleased to be able to move forward with providing a highly desired rental living option that fits the community’s needs.”
Located off 37th Street on 11th Circle, Verity will span more than 18 acres and consist of three-story buildings offering one-, two- and three-bedroom apartment homes with up to nearly 1,400 square feet.
Apartment homes will feature many of the high-end finishes and amenities that Thompson Thrift communities have become known to include—hardwood-style flooring; full-size washers and dryers; stainless-steel appliances and built-in microwaves; smooth, glass-top ranges; side-by-side refrigerators with ice and water dispensers; detached garages; tile backsplashes, designer fixtures and finishes; large walk-in closets; private yard and patio options and ceiling fans in the living room and all bedrooms.
Residents can also choose from an array of signature collection amenities including walk-in showers with full tile and glass doors, premium lighting, smart hub to integrate all smart devices, premium appliances, and dry bar in select homes.
One tailormade community feature is a custom-angled clubhouse with a covered pavilion that connects to the 24-hour fitness center and will include a coffee bar, a 24-hour social hub, work from home suites and a resident conference room with screenshare and video conferencing technology. Other community amenities will include a resort-style swimming pool, electric firepits with seating area, community grilling areas, pickleball court, a dog run with agility equipment and pet spa. Residents will also have access to high-speed internet access, an Amazon package hub, valet trash service, an onsite service team and a user-friendly mobile app for rent payment, submitting service requests, community feed, and more.
Verity residents will be a short drive to nearby beaches and coastal attractions, as well as downtown Vero Beach and Treasure Coast Plaza, a popular dual-anchor shopping center.
Located within one of the top demographic pockets of the market, the site is surrounded by home values and income levels that exceed market averages, while Vero Beach itself continues to boast high population growth, along with impressive job growth figures, increasing by more than 6% since 2020.
Approximately 70% of Vero Beach’s workforce, highlighted by nearly 6,000 medical service jobs, is located within five miles of the Verity site. The property sits directly across the street from the area’s largest employer – the Cleveland Clinic Indian River Hospital which is home to more than 1,500 jobs. Other major nearby employers include L3 Harris Technologies, a quickly growing aerospace manufacturing and research company, and the Indian River County school district, which supports more than 17,000 students across 27 schools.

PALM BEACH GARDENS, FL – Vista Residential Partners, a national multifamily development firm headquartered in Atlanta, GA received City of Palm Beach Gardens, Fla., approval for luxury 221-unit multifamily development, to be known as Gardens Vista Apartments.
Located at the intersection of Central and Victoria Falls Boulevards, Gardens Vista will sit on 16 acres of the more than 50-acre tract of land known as Cimarron Cove. The community is in the heart of Palm Beach Gardens and lies within 0.5 miles of I-95, and less than 1.5 miles from PGA Blvd and Gardens Mall.
The Mediterranean-style complex will include 131 one-bedroom, 72 two-bedroom, and 18 three-bedroom apartments. Community amenities feature two pickleball courts, resort style swimming pool, more than one acre of walking trails, spacious gym, interactive game room, golf simulators, co-working space, 24/7 package concierge, vehicle charging stations, and a dog park. Designed by Niles Bolton Associates, the apartments will include stainless steel appliances, 9-foot ceilings, wood plank flooring, in-unit washer and dryers, and much more.
Vista has agreed to include 10% of its units to comply with the City’s workforce housing requirement. This aligns with Vista’s corporate commitment to provide workforce housing with attainable rents for those who want to live, work, and play in a well-planned community with modern units and top of the line amenities.
According to Vista’s CEO, Eduardo de Guardiola, the approval is the culmination of a two year effort and collaboration between Vista and its consultants, which include Urban Design Studio, Kimley Horn & Associates, Niles Bolton Architects, all of whom worked extensively and alongside the City’s Planning and Zoning Staff to create a development plan that won unanimous approval from the City’s staff and City Council, as well as its neighboring homeowner association.

ANTIOCH, TN – FCP announced the acquisition of Hickory Lake Apartments, a 322-unit multifamily property at 3940 Apache Trail in Antioch, TN in the Nashville MSA. The acquisition of Hickory Lake marks FCP’s 6th transaction in the Nashville market, and the first since 2022. FCP assumed a HUD loan as part of the transaction, but further terms were not disclosed.
“The acquisition of Hickory Lake Apartments provides FCP with an affordable community in a location proximate to Nashville’s largest employment centers,” said FCP’s Scott Reibstein. “We are excited to be back in the rapidly growing Nashville market. FCP is thrilled to acquire Hickory Lake, a community that supports our commitment to the preservation of affordable and workforce housing. As Nashville continues to grow, properties like Hickory Lake are of vital importance for residents.”
Hickory Lake Apartments are located near I-24, one of Nashville’s principal north-south corridors, providing access to the I-24 South Industrial Corridor as well as to downtown Nashville, Nashville International Airport, Brentwood, and the Century Farms mixed-use development.
The income-restricted community features one-, two-, and three-bedroom units with lush landscaping, two swimming pools overlooking a private lake, as well as a playground, grill and picnic areas.
FCP extends its appreciation to Zac Wracher of The Kirkland Company for his representation of the seller.

DETROIT, MI – MedCore Partners in partnership with REDICO/American House has completed the acquisition of two (2) senior living communities located in Troy and Rochester Hills, Michigan (Detroit MSA). The communities will be operated by American House under the brands American House Somerset and American House Hampton Village, respectively.
“MedCore is excited to partner with American House and to expand its existing senior living portfolio to now include Michigan” said Brian Bollich, one of MedCore’s four founding partners. “This purchase highlights our investment program of purchasing value-add opportunities with significant location upside, strong cash flow, and operational improvements. The acquisition team hopes to leverage each asset’s central location to healthcare options, as well as recreational and lifestyle amenities to position them for steady value enhancement.”
MedCore currently owns and manages senior living communities in Texas, Oklahoma, Arizona, Florida, Nevada, Oregon, Utah, and Washington. This acquisition will bring MedCore’s seniors housing portfolio to 9 states and 22 assets with approximately 2,700 beds. The operator, American House, having grown to now operate more than sixty communities, has a strong presence in Michigan as well as throughout the Midwest, Southeast and New England.
Dallas based MedCore Partners is a full-service real estate company dedicated exclusively to the healthcare and senior living industry. MedCore has built trusted relationships with both healthcare providers and numerous capital sources to successfully execute the development, acquisition, construction, financing, and leasing of healthcare facilities. Leveraging its intimate knowledge of medical sector dynamics with its comprehensive platform of real estate services offered.

SAN DIEGO, CA – Toll Brothers Apartment Living, the rental division of Toll Brothers (NYSE: TOL), the nation’s leading builder of luxury homes, in partnership with PGIM Real Estate and general contractor Swinerton, announced the topping out of The Lindley. Located at 1331 Columbia Street in San Diego, California, this new community will feature 422 apartment and penthouse residences, upscale amenities, unrivaled rooftop views, and over 12,000 square feet of retail space. Totaling over 800,000 square feet, The Lindley will be one of the largest multifamily communities ever developed by Toll Brothers.
A topping out event was recently held at The Lindley to celebrate this construction milestone and was attended by over 300 guests, including development partners, local officials, and the project s construction team. Financed with a construction loan facility from BNY Mellon and Wells Fargo, construction commenced in 2022 and residential occupancy is anticipated in late 2024.
“The Lindley represents our commitment to delivering top-tier multifamily communities in sought-after locations,” said John McCullough, President of Toll Brothers Apartment Living. “We are thrilled to top out this new community, Toll Brothers Apartment Living s first in San Diego, and look forward to offering an exceptional living experience in one of the city s most desirable neighborhoods.”
The Lindley’s elegant architectural design reflects the sophisticated San Diego lifestyle the community provides, featuring an array of studio, one-bedroom, and two-bedroom apartment homes and penthouses, complemented by over 12,000 square feet of retail space. Residence features include quartz countertops with ceramic tile backsplashes, stainless steel appliances, custom cabinetry, oversized closets, smart home features, and private balconies. The community is set to redefine luxury living with its state-of-the-art amenities, including an indoor/outdoor fitness center with Pilates and yoga studios, sauna, and cold plunge; saltwater pool with cabanas, grilling areas, and firepits; and 37thfloor sky lounge and deck with piano lounge, private dining, and outdoor theater, enhanced by expansive, breathtaking bay views. The community is being constructed to meet LEED Gold certification standards, and the parking garage will include EV charging stations.
The topping out of The Lindley represents a great milestone for Toll Brothers and our expansion in Southern California, said Michael McCann, Managing Director of Toll Brothers Apartment Living in the West Region. The Lindley s strategic location and striking architecture embody the essence of San Diego s dynamic culture and charm. We are excited to contribute to the growth of this neighborhood as it continues to become a center of upscale urban living.

COLLEGE PARK, MD – Gilbane Development Company, Amazon, Metro, City and County officials, partners, residents, and members of the community gathered to celebrate the Grand Opening of Atworth, a transit-oriented, mixed-use affordable apartment community in College Park, MD. The project is reserved for tenants with incomes at or below 80 percent of area median income (“AMI”), and the units will maintain affordability for the duration of the 98-year ground lease.
Local officials and project stakeholders welcomed the residents to their new community and spoke on the positive impacts and opportunities Atworth has created for the College Park community.
Attendees of the event enjoyed guided tours of the property, providing them with an up-close look at the sleek and sustainable design features and amenities that Atworth has to offer.
Atworth is located at 4201 River Road, College Park, MD, near The University of Maryland, and just steps from the Metro, MARC & future MTA Purple Line, making it a convenient hub for transportation and connectivity.
This 451-unit community offers featuring a 324-space structured parking garage, 5,000 SF of ground floor retail space, a collection of affordable Studio, 1, 2, and 3-Bedroom apartments designed with artistic elements and modern flair, to meet the needs of all Prince George’s County residents. Each apartment features high-end finishes, state-of-the-art appliances, and expansive windows that offer breathtaking views of the surrounding landscape.
Residents enjoy onsite amenities which include a resort-style pool, fitness center, yoga studio, a rooftop terrace with a future herb garden, a pet spa and two clubhouses. The community also features a variety of green spaces, including two courtyards complete with BBQ grills, firepits and TVS, providing residents with a peaceful retreat in the heart of the city.
“Atworth is more than just a new community – it is a testament to what can be achieved through collaboration and innovation,” said Robert Gilbane, Jr, Senior Vice President of Gilbane Development Company. “By strategically integrating residential and retail spaces near key transportation hubs, we foster a vibrant community that reaps numerous benefits for the community. We are proud to have worked with Metro and the Amazon Housing Equity Fund to provide the College Park community with innovative and affordable housing.”
“We are proud to be a part of this project to create affordable housing at our stations, providing access to Metrorail, Metrobus, and other transit options,” said Metro Executive Vice President and Chief Financial Officer, Yetunde Olumide. “Through our industry leading transit-oriented development program, we are working to create diverse, equitable, and sustainable communities and confronting the challenges of housing affordability facing so many people in our region.”
“The Atworth College Park project is a testament to collaborative action. With backing from WMATA via a ground lease, support from Prince George’s County through PILOT assistance, and vital financing from the Amazon Housing Equity Fund, this initiative demonstrates how diverse stakeholders can unite to address critical community needs. It is partnerships like these that can create truly equitable housing,” said Senthil Sankaran, Managing Principal, Housing Equity Fund.
“Atworth is emblematic of what is possible when we in the public sector work with our private sector partners to achieve regional housing and transportation goals. The result of this collaboration is highly sought after transit-oriented investment here in Prince George’s County,” said Jim J. Chandler, Assistant Deputy Chief Administrative Officer for Economic Development, Office of the County Executive for Prince George’s County.
Metro has ground leased a portion of its station property to Gilbane Development Company for the project, under Metro’s Joint Development Program. A $56.3 million low-rate loan to Gilbane Development Company funded by Amazon’s Housing Equity Fund ensured the project was able to provide critical workforce housing affordable to families earning 80 percent of area median income (AMI) for the entire term of the 98-year lease.

HOUSTON, TX – Ascendant Capital Partners, a vertically integrated real estate investment and operating platform, and Culver Investment Partners, a multifamily investment platform focused on existing core-plus and value-add multifamily communities, announced the acquisition of the Elle Collection portfolio in the Texas Medical Center area, a populous and growing submarket of Houston, TX, for approximately $60 million. The acquisition marks Ascendant and CIP s first deal together and the first investment for CIP s new platform.
The Elle Collection comprises three multifamily assets – Elle at the Medical Center, Vie at the Medical Center, and Plaza Townhomes at the Medical Center – totaling 470 units. This strategic acquisition aligns with Ascendant and CIP’s investment focus on acquiring well-located residential assets in high-growth markets with strong fundamentals.
We are excited about this latest addition to our portfolio, said Russell Gimelstob, Founder and Chief Executive Officer of Ascendant. The Medical Center is a dynamic submarket that has multiple demographic demand drivers, including a growing job market, concentration of world-class medical facilities and research institutions, and is home to medical professionals, researchers, and support staff, all of whom need access to high quality housing. We look forward to partnering with CIP to deepen our presence in Houston and enhance the value of these properties through our operational expertise. Looking ahead, we expect to remain active deploying equity and structured capital solutions across the hospitality and residential sectors.
We are pleased to acquire this portfolio that provides needed housing in Houston s fast growing Medical Center neighborhood, said Jeremy Basloe, Founder and Managing Partner of CIP. The portfolio has three differentiated offerings catering to the needs of the residents in the submarket. We believe by acquiring this portfolio at such an attractive basis and implementing our operational and capital-intensive business plan, we can provide residents with a high quality of living while also delivering returns to our investors. We are eager to continue to capitalize on the current market dislocation to execute attractive and accretive acquisitions across Texas and the Sunbelt regions.
The Elle Collection benefits from its prime location within the Medical Center, one of the largest medical districts in the world. The Medical Center is a major economic driver for Houston, attracting a strong tenant base of medical professionals and students. The partnership will seek to implement a strategic capital improvement plan to enhance the resident experience at the Elle Collection properties.