ATLANTA, GA – S2 Capital announced it has acquired a four-property portfolio in the Atlanta metro area. The portfolio totals 1,406 units across four mid-1980s assets and includes Cornerstone Apartment Homes, Pointe at Norcross, Sonoma Ridge Apartment Homes, and Woodland Ridge Apartments. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not disclosed.
Over the next two years, S2 expects to spend approximately $5 million per property, or over $20 million, in renovations. Unit interiors will be updated and will feature stainless steel appliances, hard-surface countertops, undermount sinks, kitchen backsplash, vinyl flooring, hardware, light fixtures, and ceramic shower tile. Planned upgrades for exterior spaces are property-specific, and are expected to include enhanced amenity spaces, leasing offices, clubhouses, swimming pool, landscaping, balcony enclosures, monuments, and signage.
Located at 2100 Winters Park Drive in Atlanta, Cornerstone Apartment Homes is a 344-unit, two-story garden style apartment complex featuring one-and two-bedroom units. Sonoma Ridge Apartment Homes, located at 4659 Dawson Boulevard in Atlanta, offers one-, two-, and three-bedroom units in a two-story garden style apartment community with 440 units. Pointe at Norcross, at 3600 Park Colony Drive in the submarket of Norcross, is a 320-unit two-story garden style apartment complex featuring one-and two-bedroom units. Woodland Ridge Apartments, at 1355 Indian Trail Lilburn Road NW in Norcross, offers one-and two-bedroom units in a two-story garden style apartment community with 302 units. All four assets are within a few minutes’ drive of Buckhead, the Central Perimeter, Midtown, and the I-85 Industrial Corridor, in close proximity to a large variety of industries and jobs.
“The Atlanta area is a great fit for our value-add strategy targeting workforce housing, particularly in the Northlake/Norcross submarket where almost 40% of residents are renters,” said Davey Leach, VP of Acquisitions at S2. “Atlanta has posted record demand and rent growth figures over the past few quarters, and these submarkets are enjoying 98% or higher occupancy rates. The opportunity to renovate four properties in the same submarket to a similar standard leads to immediate economies of scale that will benefit our tenants as well as our investors.”

NASHVILLE, TN – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 264-unit Kirkwood Place in Clarksville, Tennessee. The Kirkland Company represented the seller on this transaction. This represents HZ’s ninth acquisition in Tennessee and first in the Clarksville metro.
The property, built in 2020, is located 9.8 miles from Downtown Clarksville and 45 miles from Downtown Nashville. Hamilton Zanze purchased this property off-market through a local broker relationship.
“We are excited to expand our presence in Tennessee with the purchase of Kirkwood Place in Clarksville, TN,” said David Nelson, Hamilton Zanze’s chief transactions officer. “The brand-new asset features favorable amenities, convenient location to near employers, and close proximity to an abundance of retail and entertainment in Downtown Clarksville.”
The community is located at 2934 Dunlop Lane in the Clarksville-Hopkinsville metro area. The 264 units average 1,021 square feet with five different floor plans. Community amenities include an outdoor lounge and grill area, resort-style pool, pet spa and park, and social game room with billiards tables and TVs. Unit amenities include gourmet kitchens with stainless steel appliances, in-unit washer and dryer, private balconies and patios, wood vinyl plank flooring, and quartz countertops.
HZ’s capital improvements will include site improvements, building repairs, amenity improvements, and mechanical, electrical, and plumbing improvements. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

NEW YORK, NY – Walker & Dunlop, Inc. announced that it has arranged $70,000,000 in permanent financing for 21 West Street in New York, New York. The 33-story tower includes 293 carefully designed studio, one-, two-, and three-bedroom apartments. Located in the Financial District of Manhattan, the property is proximate to the offices of major financial firms, including Goldman Sachs and American Express.
Jonathan Schwartz, Adam Schwartz, Aaron Appel, Keith Kurland, Michael Ianno, and Triston Stegall led the Walker & Dunlop team in arranging the financing for Rose Associates, a repeat client. Based in New York, Rose Associates is a leading multifamily and mixed-use real estate developer and operator that has overseen the successful residential and retail leasing at the property for nearly 30 years. The 12-year loan, provided by MetLife features an attractive fixed rate and interest-only payments for the entire term, which will ensure continued operating performance for years to come. The Rose Associates team was led by Marc Ehrlich, Chief Investment Officer and Michele Bengelsdorf, Head of Asset Management.
“Though the New York City rental market experienced headwinds during the COVID-19 pandemic, the market has successfully absorbed more than 60,000 new units that were delivered over the past four years. With vacancies at near record lows, this lending opportunity was very attractive to the capital markets,” said Walker & Dunlop’s Jonathan Schwartz.
21 West Street blends modern convenience and a classic landmark style with luxurious residences. The property’s amenity offerings include a roof deck, fitness center, resident lounge, and children’s playroom. With excellent transit access, residents enjoy convenient access to the rest of Manhattan as well as to Brooklyn, Queens, and New Jersey. New retail offerings, including West of Broadway, Brookfield Place, and Westfield’s World Trade Center mall dramatically increase area residents’ shopping and dining options.

PHOENIX, AZ – Triumph Properties announced it has closed an $82.5mm total capitalization of a 287-unit multifamily development project, Aileron, located in the booming North Phoenix submarket. The land parcel of 9.87 acres was purchased from Moderne Capital Partners, who will be Triumph’s development partner on the deal.
Triumph believes that Aileron’s location will benefit from the continued growth of the north Phoenix market including notable job announcements like the Taiwan Semiconductor Manufacturing Company (TSMC), who announced plans to open a 1,129 acre $12 billion factory. Aileron is 1 mile south of the Deer Valley Airport where Cox communications and Honeywell Aerospace have strong employment centers. Other notable nearby employers are Discover, Safeway Corporate and Albertsons.
Aileron will feature a mix of studios, one-, and two-bedroom units averaging 842 square fee. Unit finishes will include vinyl plank and carpet flooring, quartz countertops, tile backsplashes, wood cabinets, stainless steel appliances, in unit laundry, air conditioning and more. Amenities will include, pool, spa, clubhouse, fitness center, BBQ area, secured access and package center.
“We are excited about this project and our partnership with Moderne. Each of Moderne’s Partners brings tremendous experience and value to the table. We believe this will be the first of many projects together”, said Steve Feder, Principal at Triumph Properties.
“We are looking to make more strategic partnerships like we did on Aileron in the Southeast and Southwest as we expand our development pipeline. Suburban, garden-style apartments, surface parked or wrap product are what we are focused on”, adds Blake Brewer, Director of Acquisitions at Triumph Properties.

DALLAS, TX – S2 Capital announced it has acquired Residences at Preston Park, a 266-unit multifamily community in Plano, Texas. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not disclosed.
Residences at Preston Park is a three-story garden/townhomes style apartment built in 1995, set on approximately 15 acres, with an average unit size of 1,114 square feet. S2 Capital is poised to elevate the property’s renter profile via hands-on residential management, asset management, and construction management. The proposed interior and exterior renovation plans anticipate spending just over $4 million to make select premium renovations.
Located at 4701 Preston Park Boulevard, the property provides residents access to the highly ranked Plano Independent School District and is convenient to major employment nodes such as Legacy, Frisco, Uptown/Downtown Dallas, Las Colinas, DFW Airport, and the Platinum Corridor. In 2021, the Plano submarket saw nearly 98% average occupancy and 21% annual rent growth, driven by a growing population attracted by job opportunities and the area’s robust economic recovery.
“From the start of our discussion on Residences at Preston Park, we have been impressed by the property’s significant value-add opportunity,” said Ryan Everett, VP of Acquisitions at S2. “We believe our investment will benefit both the local residents and our investors. We are also bullish on West Plano’s apartment market, which is driven by steady occupancy rates and record-breaking demand for the whole Dallas-Fort Worth region.”

KANSAS CITY, MO – Sherman Residential acquired its third asset in the Kansas City metropolitan area, Kinsley Forest luxury apartments, a 2017-constructed Class A multifamily community located in Kansas City, Missouri.
The 328-unit property is located within 15 minutes of the Kansas City International Airport, downtown, and many top employers, including Cerner, T-Mobile, and the Social Security Administration. The Lakeview Terrace neighborhood gives students access to the NKC School District and several universities.
A northern Kansas City tree line surrounds this garden-style property and its inviting list of amenities, including: One to three-bedroom apartments with elevator access; Privacy conveniences such as in-unit washers and dryers, personal patios/balconies, and garages; The expansion of one s home into a welcoming clubhouse featuring a full demonstration kitchen, media lounge, and private conference room; Comprehensive community amenities, such as a 24-hour state-of-the-art fitness center with on-demand fitness, cabana-lined pool, outdoor fireside lounge, and gated pet park; A perfectly balanced location nestled within Northland forestry and just a minute from the entrance to Highway 169.
Garrett Salk, Sherman s Vice President, states: We are excited to expand our portfolio in the Kansas City market. The asset’s proximity to downtown and many of KC’s top employers drove us to pursue the property. We look forward to continuing to seek high-quality apartment communities in the KC market.
Sherman Residential has owned and professionally managed over 80 properties, including Kinsley Forest, and is currently celebrating its centennial year. Since 1922, the family-owned company, headquartered in north suburban Chicago, has successfully managed a nationwide portfolio of multifamily properties.

BOSTON, MA – Taurus Investment Holdings, a global private equity real estate firm operating for over 45 years with experience in multifamily, office, logistics, mixed-use and renewable energy sectors, and Kayne Anderson Real Estate, the real estate private equity arm of Kayne Anderson Capital Advisors, L.P., announced the formation of a joint venture to acquire Halstead Framingham, a 1974 vintage, 1,020-unit apartment community located in Framingham, Massachusetts. Following the transaction, the property will be renamed The Green at 9 & 90.
The joint venture plans to commit significant capital to transition The Green to a low-carbon, energy-efficient multifamily community. In addition to the sustainability-focused retrofit, the joint venture plans to implement a range of tenant-driven social activations such as rent reporting to help tenants build credit through on-time rent payments and prioritization of partnering with diverse-owned businesses vendors.
Both Taurus and KA Real Estate maintain a successful track record and forward-thinking approach to real estate and are committed to prioritizing and incorporating environmental, social and governance (“ESG”) standards into their businesses. Taurus s energy-focused retrofit subsidiary, RENU Communities, will implement a tailored program to reduce greenhouse gas emissions across the entire property by 50% while significantly boosting energy efficiency by upgrading the property s HVAC systems, adding rooftop solar PV and a property-wide energy management system. KA Real Estate will invest in The Green through its KA Multifamily Impact strategy, which is an extension of both the firm’s leading ESG initiatives and strategic multifamily investments.
This is an exciting opportunity to partner with a like-minded team and leverage our expertise in investing, enhancing and operating high-quality multifamily properties, said David Selznick, Chief Investment Officer, KA Real Estate. ESG is a guiding principle of how we operate at Kayne Anderson, and this partnership builds on our commitment to invest in assets that prioritize increasing sustainability, rent attainability and positive social impact in local communities.
Taurus has a longstanding commitment to creating environmentally conscious properties. As the demand for building decarbonization continues to rise, The Green is an excellent fit for RENU s retrofit program. We are thrilled to partner with KA Real Estate to enhance the property s energy profile and social impact potential, said Peter A. Merrigan, CEO of Taurus Investment Holdings. We are thankful for all our partners support and look forward to improving our residents quality of life, while also maximizing value for our investors.
RENU Communities works to link traditional real estate investment with the growing desire for electrification and decarbonization. RENU provides turnkey, energy-efficient retrofits of existing real estate assets with a focus on renewable energy and reducing carbon footprints with the additional goal of generating Net Operating Income (NOI) improvement and creating value for investors.
Given that the electric provider for The Green and State of Massachusetts have set high standards for meeting climate change goals and are offering a variety of financial incentives, we believe The Green has numerous opportunities for water and energy upgrades as well as great opportunities for renewable energy onsite, said Christopher Gray, PhD., Chief Technology Officer of RENU Communities.
The Green, currently 98% occupied, is ideally situated in the heart of Boston s Metro West office and lab market, with over 700,000 suburban job and employers that include TJX, Raytheon, Bose, Staples and MathWorks, among others. Tenants benefit from an extensive, recently updated amenity package that includes an expansive fitness center with simulation surfing options, resident lounge with numerous shared workspaces, pool, pickleball court and multiple grilling areas.
We are delighted to see KA Real Estate and Taurus partner on this iconic asset, said Yan Ling, Managing Director of Evercore Real Estate Capital Advisory. Their investment in environmental and social improvements will elevate the property to a new era and bring lasting benefits to the residents, local community and climate.

AUSTIN, TX – Palladius Capital Management, a vertically-integrated real estate investment manager focused on pursuing multifamily, student housing, hospitality and select thematic investment strategies, announced the acquisition of The Heights, a 672-bed student housing property located in the Austin, TX suburb of San Marcos.
The acquisition was made on behalf of Palladius Real Estate Fund I ( PREF I ), a private real estate investment fund focused on producing attractive risk-adjusted returns through the acquisition, management and disposition of equity interests in multifamily and student housing assets across the country.
The Heights, located thirty minutes away from downtown Austin and approximate to the Texas State University campus, enjoys strong leasing volume from the 38,000-student population. As part of its value creation strategy, Palladius plans to fully renovate the property s 240 units. It will also re-amenitize common spaces, including the clubhouse and pool, FF&E and gym equipment and enhance the building s exteriors.
As increasing demand for student housing narrows cap rates, Palladius remains especially committed to our tactically contrarian approach to investing, which enables us to identify opportunities others overlook, commented Nitin Chexal, CEO of Palladius. We believe the Heights was acquired at an attractive basis and that this transaction will showcase our ability to recognize mispriced risk. We look forward to implementing our capital improvement plan to maximize the value of this well-located asset.
The Heights represents the most recent acquisition made by the Palladius team along the I-35 corridor. The firm s hands-on approach to asset and property-level management are critical elements of its risk control and value creation strategies and can be credited with contributing to its historic track record of delivering strong risk adjusted returns for its partners and investors.

FAYETTEVILLE, NC – Olympus Property announced the acquisition of The Heights at McArthur Park apartments, a 288-unit garden style multifamily property in Fayetteville, North Carolina.
The Heights at MacArthur Park is a class A community located in the desirable city of Fayetteville. The property has a premier location with its proximity to some of the region’s largest employers, including Fort Bragg, Goodyear Tire, VA Healthcare Centers, and Walmart Associates. In addition, Amazon plans to build a 1.3 million-square-foot fulfillment facility in the Military Business Park in Fayetteville, which will create more than 500 full-time jobs and hundreds of other part-time roles. This type of job growth will continue to support robust rent growth in the area.
Fayetteville has seen no new deliveries in the market since 2016, and with only two new projects currently underway (totaling 214 units), the vacancy rate for Fayetteville is expected to remain below 4% for the foreseeable future.
“The Heights at McArthur Park is an exceptional asset in a market that is experiencing robust job growth. The strong fundamentals of Fayetteville will make this a great acquisition for Olympus and breaking into a new market is always exciting,” stated Travis Bertetto, Acquisitions Manager.
The Heights at McArthur Park features a resort style pool with a sundeck and cabanas, fitness center, white sand volleyball court, business center, resident park with a playground, and an off-leash dog park. Unit interiors include granite-style countertops, nine-foot ceilings, and upgraded appliances.
“The Fayetteville market has an extremely tight supply pipeline with nothing planned for development in the foreseeable future. These factors paired with strong rent growth will provide long-term upside for both our partners and firm,” added Chase Bennett, Senior Managing Director.

LOUISVILLE, KY – Capital Square, a leading sponsor of Delaware statutory trust offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a newly built, Class A, 309-unit multifamily community in Louisville, Kentucky. The community, developed by LIV Development, was acquired on behalf of CS1031 The Louis Apartment Flats, DST, a Delaware Statutory Trust offering for Section 1031 exchange and other investors.
“Capital Square is bullish on Class A multifamily investments because they generate an unrivaled combination of stable cash flow, appreciation potential, and inflation protection,” said Louis Rogers, founder and chief executive officer of Capital Square. “The facts speak for themselves: for over two years, in spite of the pandemic, Capital Square has collected approximately 99% of all rents due on nearly 11,000 apartment units across the southeast. Investors are flocking to the multifamily asset class even more today because of the proven inflation protection.”
Located at 3750 Chamberlain Lane, The Louis is a newly built community completed in 2021. It offers one-, two-, and three-bedroom units with top-of-the-line finishes and an average unit size of 966 square feet. Community amenities include a: resort-style swimming pool with poolside cabanas; 24-hour, state-of-the-art fitness center; resident lounge with a complimentary gourmet coffee bar; business center with private workspaces and printing stations; fenced pet park with pet spa; and 24-hour onsite community market.
“LIV Development is incredibly pleased with the finished product at The Louis,” said Andrew Murray, LIV’s managing director of development. “We were able to deliver a highly-amenitized community that offers residents an excellent place to call home. Louisville is a great market and we’re glad to have completed our first project in the city.”
The property is within two miles of multiple retailers, restaurants and entertainment venues. The Louis is also within close proximity of Interstate 265, allowing residents easy access to Greater Louisville and the surrounding region.
“Capital Square acquires high quality apartment communities in high growth markets in the mid-south and Southeast,” said Whitson Huffman, chief strategy and investment officer. “Though a currently challenging macro-economic environment, the housing crisis in this country has created strengthening fundamentals in our target markets and multifamily investment continues to provide strong opportunities for compelling risk-adjusted returns for investors, and will do so for the foreseeable future.”