ATLANTA, GA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Brighton Woodstock, a build-for-rent, 100-unit townhome community in the Atlanta suburb of Acworth, Georgia.
Capital Square has formed the Private Equity Group managed by experienced real estate executives, Dave Platter and Jon Trott, as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent strategy in high growth sunbelt markets.
“Brighton Woodstock is a new build-for rent townhome community in Atlanta’s affluent and high barrier to entry Acworth/Cherokee County submarket. Build-for-rent communities are professionally managed neighborhoods of highly amenitized single-family rental homes,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This unique asset class is similar to gated residential neighborhoods that cater to residents’ desire for the space of a single-family home with the convenience and community feel of a multifamily rental.”
Located at 5900 Woodstock Road, the modern single-family residential community features open floorplans averaging 1,480 square feet with designer features and finishes, gourmet island kitchens, attached garages, private patios, spacious closet space and in-unit washer and dryers. Community amenities include a picnic and activity lawn, firepit and grilling area, kids park and playground, a dog park and a walking trail. Mobile car detailing, valet dry cleaning and housekeeping services are also available to residents.
Brighton Woodstock is approximately five miles from Kennesaw State University, one of the largest universities in Georgia and a leading employer in the Atlanta metropolitan area. Greater Atlanta gained 135,000 jobs in 2021 and is one of the Southeast’s major employment hubs for significant technology companies, including Google, Microsoft and Facebook, as well as numerous medical institutions and other top-rated universities, such as Emory and Georgia State. According to the U.S. Census Bureau, Atlanta experienced the fourth highest population growth in the nation between 2010 and 2021.
“Brighton Woodstock is in the heart of one of the nation’s fastest growing regions and in Atlanta’s affluent Cherokee County submarket, which has experienced average rent growth of 9.6% for the past five years. The Atlanta region continues to maintain its position as a top MSA in the Southeast, with 135,000 jobs gained in 2021, and the fourth highest population growth in the nation,” said Whitson Huffman, co-chief executive officer. “This property is particularly appealing from an investment perspective due to its location in Atlanta’s least supplied north suburban market, which enjoys the most attractive rent-growth projections in the metropolitan region.”

KNOXVILLE, TN – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the launch of CSRA Opportunity Zone Fund VIII, LLC. The project-specific opportunity zone fund will raise capital to develop Livano Knoxville, an approximately 348-unit Class A multifamily community in Knoxville, Tennessee. CSRA Opportunity Zone Fund VIII seeks to raise $46.684 million in equity from accredited investors.
“With the land acquired and a favorable construction loan in place, Capital Square believes it has reduced the risk on this superior site near the University of Tennessee,” said Louis Rogers, founder and co-chief executive officer. “And – the icing on the cake – the property is in an opportunity zone that permits investors to defer and exclude their capital gains from the sale of any asset by investing in this, Capital Square’s eighth, opportunity zone fund.”
Located in the city’s emerging South Knoxville neighborhood at 451 W. Blount Avenue, just south of the Tennessee River and adjacent to the University of Tennessee’s Neyland Stadium, the multifamily community will include studio, one-, two- and three-bedroom apartment homes averaging approximately 930 square feet. The property will feature 35 workforce apartment homes available to residents who earn up to 80% of the area’s annual median family income, the remainder of the available units will be market rate apartment homes. The city of Knoxville has agreed to contribute $6.5 million of the project’s total development cost as a result of the inclusion of the workforce housing units.
Capital Square completed the acquisition of the 5.8-acre lot earlier this month and secured a $70.4 million construction loan agreement with Truist Bank. Tennessee-based Southern Building Group Inc. has been engaged as general contractor. Groundbreaking on the $116 million project, led by Capital Square’s development division and joint-venture partner, LIV Development, is scheduled to take place next month.
“The University of Tennessee predicts that the state’s population will grow by up to one million new residents by 2040, with the Greater Knoxville population expected to increase by 17.2%,”1 said Whitson Huffman, co-chief executive officer. “The South Knoxville neighborhood enjoys strong economic fundamentals, with a healthy and stable employment base, multifamily occupancy north of 97% and rent growth projected to exceed 3.3% annually through 2027.2 Capital Square believes Knoxville is a highly attractive growth market and a compelling location for our latest opportunity zone development project.”
Knoxville is the third largest city in the state behind only Nashville and Memphis. The area is home to 18 four-year and two-year colleges and universities, led by the University of Tennessee, which has an annual enrollment of approximately 31,000 students and employs 11,700 academic and administrative employees. The university’s endowment exceeds $1.3 billion.
Major employers in the area include the U.S. Department of Energy Oak Ridge National Laboratory, Covenant Health, the University of Tennessee, Knox County Schools, University Health System, The Dollywood Company, Clayton Homes, DENSO Corporation, Tennova Healthcare, Blount Memorial Hospital and the Tennessee Valley Authority.

CHICAGO, IL – JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced it has acquired Courthouse Square, a 149-unit Class A apartment community 25 miles west of Chicago in the suburb of Wheaton.
“Apartment communities of this caliber are in high demand given the strong employment fundamentals and high barriers to entry for home ownership,” said Jay Madary, president and CEO of JVM Realty Corp. “The acquisition of Courthouse Square fits our long-term strategy of pursuing investments where we can leverage our local experience and extensive operating platform to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”
Located at 250 S. Naperville Road, Courthouse Square was built in 2016 and offers one-, two- and three-bedroom apartment homes in two, six-story brick buildings. Many of the open-concept apartment homes include dens/home offices with layouts offering up to 1,520 square feet. The property is LEED Silver certified with high-end, modern finishes such as kitchens with stainless steel appliances, quartz countertops and islands and subway tile backsplashes; nine-foot ceilings; engineered hardwood flooring; Shaker stye cabinetry; and a full-sized washer and dryer. Select homes come with a private balcony or oversized terrace and standalone showers with glass door enclosures.
Residents enjoy an abundance of community amenities including access to a resort-inspired pool and sundeck, concierge service and package receiving, fully equipped 24-hour fitness center and yoga studio, event room with catering kitchen, media space and billiards, an outdoor deck with a fire pit, heated indoor garage parking with electric charging stations, pet wash, car wash and bike repair stations.
The property has direct access to downtown Chicago via the Union Pacific West Line and nearby Interstates 88 and 355 connect residents with the greater Chicago Metropolitan Area. Residents enjoy a short commute to six Fortune 1000 companies and other top employers along the I-88 Illinois Technology and Research Corridor.
Wheaton is the county seat of DuPage County and has been consistently praised as a “Best Place to Live” by various publications for its charm, quality schools and family friendliness. Courthouse Square is located in an area of Wheatonknown for lush greenery and outdoor activities, with an array of retail, dining and entertainment options a short walk from the property.
With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 communities representing $1.6 billion in assets under management throughout the Midwest.
JLL Capital Markets represented the seller in this transaction. The team was led by Managing Director Kevin Girard, Managing Director Mark Stern, Director Zach Kaufman and Senior Analyst Avi Schiffman.

BROOKLYN, NY – Canyon Partners Real Estate, Tavros Holdings, and Charney Companies announced their joint venture for the development of 585 Union Street, a 224-unit multifamily development located in the Gowanus neighborhood of Brooklyn, NY, a qualified opportunity zone.
The Project is being capitalized with $57.7 million of equity, and the joint venture simultaneously closed on a $107.0 million senior construction loan from Pacific Western Bank. Canyon’s investment marks Canyon’s eleventh qualified opportunity zone investment, totaling $1.2B of project capitalization.
“Gowanus’s industrial beauty and artistic character makes it one of the most exciting cultural hubs in New York City, and we couldn’t be more thrilled to be a part of its expansion,” said Nicholas Silvers, founding partner at Tavros. “We are looking forward to adding housing to such a dynamic neighborhood with the help of a capital partner who shares the same vision.”
585 Union Street is located in the Gowanus neighborhood of Brooklyn, NY. The Project will benefit from its close proximity to diverse entertainment, transportation, and employment hubs within walking distance, including the many dining and entertainment options unique to the Gowanus neighborhood, the Barclays Center, and a Whole Foods. The Project is located one block from the Union Street subway station which provides access to Lower Manhattan, Times Square and Union Square, all within 35 minutes. The property is conveniently located near public parks, schools, restaurants, and museums. The development will offer a mix of studio, one-, two- and three-bedroom units along with parking, a fitness center, and a rooftop pool among other community amenities. Twenty-five percent of available units will be allocated to affordable housing and benefit from the Affordable New York housing program. In addition, the Project design will feature an entirely electric building, with flood resistant landscaping and plantings.
“The opportunity to create new rental homes in Gowanus, the most eagerly anticipated neighborhood in Brooklyn, has been a journey of perseverance and challenging work, which has been supported by a world-class team of professionals, colleagues and of course, our financial partners,” added Sam Charney, Principal of Charney Companies. “This is yet one more step to 585 Union Street becoming a reality, and I couldn’t be more excited.”

DALLAS, TX – The NRP Group, a vertically integrated, award-winning developer, builder and manager of multifamily housing, has officially broken ground on ‘Ascent at Mountain Creek – a 324-unit mixed-income multifamily community located just 15 minutes outside of downtown Dallas. Fifty percent of the units will be reserved for individuals and families earning 80% or less than the Area Median Income.
Located at 4868 S. Merrifield Road, Ascent at Mountain Creek will comprise 14 three-story, wood-frame residential buildings offering a mix of one-, two- and three-bedroom apartments. As a result of the increased resident demand for larger units to accommodate growing work-from-home preferences, den floor plans for one- and two-bedroom units will also be available. In-unit features will include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Community amenities will include a resort-style pool, dog park, fitness center and resident lounge that can double as workspace for remote workers.
There is a crucial need for mixed-income communities like Ascent at Mountain Creek in the City of Dallas where many residents are being priced out of the rapidly growing market, said Kyle Hines, Assistant Director for the Department of Housing and Neighborhood Revitalization. Housing demand throughout the region has caused significant price increases in the City and we are actively developing more affordable housing options using all available tools and resources to meet our current and future residents needs. We are pleased to see this project move forward and look forward to working closely with The NRP Group to bring this development to fruition.
Located at the intersection of Highway 408 and 1-20, Ascent at Mountain Creek will offer residents easy access to bustling downtown Dallas and is in close proximity to ample retail and dining options. The community is also surrounded by rolling hills, lush forests, and hiking trails, a rarity in the Dallas-Fort Worth market, with Mountain Creek Lake less than 10 miles south. Residents will also be a 10-minute drive from a variety of healthcare, grocery, retail, and recreational offerings, including Methodist Charlton Medical Center, Target, Home Depot, Epic Waters Waterpark, Grand Oaks Golf Club, and more.
Within Ascent at Mountain Creek s immediate vicinity is a host of employment opportunities for working professionals. Mountain Creek Business Park, a 450-acre industrial park, is home to a wide range of reputable companies, including Nestle, Ulta Beauty, and Chewy, among others. The community is also a short distance away from Dallas Baptist University, complete with 4,480 enrolled students and 132 full-time employees.
Dallas-Fort Worth continues to experience surging population growth, making Texas one of the leading states in the country in terms of net migration. The influx of new residents migrating to the area is causing high demand for a limited supply of apartments in the DFW market. As a result, apartment rents are quickly skyrocketing to rates that are infeasible for most individuals, especially those who are in the ‘missing middle income bracket, said Alena Savera, Vice President of Development at The NRP Group. We are excited to bring this housing development to the market and work alongside the City of Dallas to provide working-class families and individuals housing, as well as the opportunity to enjoy the natural beauty of the Mountain Creek region of Dallas.

HOUSTON, TX – 37th Parallel Properties announced 2022 transaction volume of $300 million, bringing their historical transaction totals to 10,000 units representing over $1 billion in value. The firm’s most recent transaction was Grand Reserve, a 291-unit, 2013-built community in Katy, one of the strongest submarkets in Houston. The asset was acquired off-market by 37th Parallel on behalf of their investors and joint venture partner.
“2022 was an expansion year for 37th Parallel,” said Dan Chamberlain, Managing Partner. “We deepened our geographic presence, grew our team, and expanded our execution capabilities. We ended our record year with the acquisition of Grand Reserve in Katy, a submarket that is in the 97thpercentile for school quality and boasts a median household income of $142,000,” said Chamberlain.
The property features a mix of one-, two-, and three-bedroom units with large floorplans averaging 933 square feet. Apartment and community amenities include nine-foot ceilings, private patios and balconies, resort-style swimming pool, as well as an impressive 141 attached and 69 detached garages.
Doug Fraser, who leads the acquisition efforts for 37th Parallel, said, “Two-thirds of our acquisitions in 2022 were sourced on an off-market basis, leveraging our strong closing track record and deep-rooted industry relationships to source the best available opportunities during a time of significant market volatility and uncertainty,” said Fraser.
This acquisition marks the ninth and final material investment from 37th Parallel’s inaugural fund, 37P – Fund I, which closed to new investment in early 2022. The Fund now has diversified investments in Atlanta, Austin, Dallas, Houston, and San Antonio. The firm launched its income and equity growth fund, 37P – Fund II, in September 2022. Fund II will employ a similar strategy as Fund I, targeting value-add and core-plus multifamily real estate in dynamic growth markets in the Southeast and Texas.
The firm continued their ongoing portfolio optimization strategy in 2022. “Our persistent focus on maintaining a 100% profitable investor track record was highlighted even more by the negative public market experience for many stock and bond investors in 2022,” said Chad Doty, Managing Partner. “Our 2022 dispositions resulted in average annual gross investor profit of 32.49%, and an average gross multiple of 2.66x on initial investment. We look forward to 2023, which will be challenging, but should also provide opportunities for those who know how to invest conservatively in strong markets.”

PFLUGERVILLE, TX – TerraCap Management LLC, a privately held investment firm with its headquarters in Naples, FL, announced the acquisition of The Dalton and The Beacon at Pfluger Farm located in the Pflugerville suburb of Austin, TX.
“We are proud to complete this double acquisition of The Dalton and The Beacon. These purchases will bring our Class A new apartment holdings in the Austin area to approximately 1,000 units. The submarkets these holdings are in are some of the fastest growing in the US with 50% population growth over the last 12 years. This combined with major national employers, high average family incomes, and premier amenities give us comfort and confidence. We are a tenant centric company that will focus on resident quality of life and positive energy for the communities,” said Steve Hagenbuckle, TerraCap Founder and Managing Partner.
The Dalton, a 2022-built, 350-unit apartment complex, features one, two, and three-bedroom units. The property is located near I-35 and is 25 minutes from downtown Austin. The property’s amenities include a swimming pool, a 24-hour fitness studio, a self-serve wine membership, a luxury pool house with grilling stations, an on-demand Starbucks Coffee bar, and a private dog park.
The Beacon, also built in 2022, is a 258-unit apartment complex located in Pflugerville with access to major employment and retail hubs. The one, two, and three-bedroom units feature stainless steel appliances, a farmhouse kitchen sink, custom lighting fixtures, and walk-in closets. The community’s amenities include a swimming pool with a sunning deck, an outdoor lounge with a fireplace, shuffleboard, billiards table, and a fitness studio.
“We’re excited to expand our holdings in a dynamic growth market such as Austin,” added Steve Good, TerraCap Partner and National Director of Acquisitions. “These are two high-quality assets that are well-located within one of the fastest growing communities in the Austin area. Both properties are accessible to downtown, fantastic retailers, and high-income employers such as Samsung, Amazon, Tesla, Apple, Google, Facebook, Micron, and Dell, among others. There is quite a growth story in Austin, and we look forward to finding future opportunities within the market.”

NORFOLK, VA – Harbor Group International, a privately owned international real estate investment and management firm, announced that its Multifamily Credit Fund (“the fund”) has secured a total of approximately $1.6 billion in capital commitments, including a $585 million USD commitment from CPPIB Credit Investments III Inc., a wholly-owned subsidiary of the Canada Pension Plan Investment Board (“CPP Investments”). The commitment marks CPP Investments’ third investment with HGI since 2019.
The fund seeks to achieve attractive risk-adjusted returns by investing in U.S. multifamily credit opportunities including senior mortgage loans, Freddie Mac K-series bonds, preferred equity and mezzanine debt investments, and investments in securitized multifamily mortgage products.
“We are thrilled to continue our relationship with CPP Investments through this partnership as our lead investor for the Multifamily Credit Fund,” said Richard Litton, President, HGI. “The fund is uniquely positioned to build on HGI’s track record both as an investor in multifamily credit strategies and as a multifamily operator with a large national portfolio. We also expect to benefit from the current rate environment as we seek to achieve positive returns for our investors.”
The commitment strengthens HGI’s and CPP Investments’ tenured relationship. In 2020, CPP Investments served as the lead investor in HGI’s multifamily whole loan platform, committing $110 million, and in 2019, CPP Investments committed $180 million to HGI’s Freddie Mac Supplemental Loan program.
“We continue to view multifamily credit investments as resilient assets that are well positioned to drive strong returns for the CPP Fund over the long term,” said Geoffrey Souter, Managing Director, Head of Real Assets Credit at CPP Investments. “HGI is a market leader in this space and we are pleased to extend our relationship with them through this new investment.”
As a national commercial real estate investor, owner and operator, more than 80% of HGI’s portfolio is composed of multifamily-related investments.

BYRON, GA – Carter Multifamily has announced its acquisition of Brighton Park, a 200-unit apartment community on Watson Boulevard in Byron (Warner Robins), Georgia for the purchase price of $34.5 million. Built in 2001 and spanning approximately 222,392 rentable square feet, Brighton Park offers well-designed one, two, and three-bedroom apartment homes.
The property is located in the growing Middle Georgia region, an excellent location for residents given its proximity to thoroughfares I-75 and I-16 which allows for easy access to the surrounding logistics and manufacturing employment hubs, and to companies such as Perdue Farms, Northrop Grumman and Frito Lay. The Middle Georgia region is also exemplary for higher education, with six universities within a 50-mile radius, such as Mercer University and Georgia Military Institute.
“We’re excited to continue to grow our footprint in the burgeoning market of Warner Robins/Middle Georgia. We believe the area continues to be an attractive multifamily market as evidenced by continuous population and job growth, as well as excellent connectivity to the country’s leading industry hubs of aerospace, manufacturing, and logistics. We believe that the Warner Robins submarket will continue to fuel demand growth for high-quality, affordable multifamily housing, and that Brighton Park will be a valuable addition to our real estate portfolio,” said Ray Hutchinson, chief investment officer of Carter Multifamily.
Property amenities include: pool, fitness center, playground, gated community, clubhouse, parking, carwash, tennis courts, laundry facilities, business center, grills, dog park, movie theater, and a vegetable garden. Carter Multifamily intends to execute a value-add strategy which will include operational improvements, upgrades to community amenities, interior unit renovations, and exterior plant improvements.

ATLANTA, GA – Quarterra, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and asset manager, announced the opening of its newest community, Emblem Riverside, in the Atlanta suburb of Douglasville.
The garden-style community features 320 apartment homes near the Chattahoochee River and Sweetwater Creek State Park offering an unmatched destination lifestyle, and easy access to neighborhood schools, employers and prime transportation routes. Phase II of the community will deliver in September 2023 and includes an additional 105 apartment homes including 25 townhomes.
Emblem communities were created by Quarterra to help address the nationwide shortage of attainable housing available to middle-income renters – making Emblem Riverside’s central location within Atlanta’s top logistics and ecommerce corridor, and immediate connectivity to major job centers throughout Atlanta providing access to over 525,000 workers, is even more vital.
“Atlanta is one of the fastest-growing housing markets in the country, and Emblem Riverside puts residents within easy reach of the city while offering the intimate feel and lifestyle of a suburban community,” said Ray Crocker, Senior Vice President of Development with Quarterra. “The community features the top-flight amenities package and a modern living experience that has become the trademark of the Emblem brand. We’re excited to bring this opportunity to Douglasville, and further enhance an already thriving community.”
Emblem Riverside residents will find convenient retailers and well-known restaurant options located along Thornton Road, with unique dining establishments and boutique shops a short distance away in Downtown Douglasville. Recreational opportunities abound, with Tributary Tennis Center, Chattahoochee River and Sweetwater Creek State Park, with its historic ruins, hiking trails, and camping, boating and fishing at 215-acre George Sparks Reservoir.
Situated at 1551 Riverside Highway, Emblem Riverside affords easy connectivity to Interstates 20 (east-west) and 285 (north-south), as well as local thoroughfares like Fulton Industrial Blvd. and Riverside. The Douglas Connect bus route runs along Riverside Parkway, providing connections to the Marta bus line and the greater Atlanta Metro Area, including neighboring Mableton, Villa Rica and South Fulton. The location also creates quick commutes to quality schools and regional employers like Douglas County, Google, Pepsi, Switch Data, ResMed, Quaker Oats, Wellstar Douglas Hospital and Amazon. Surface parking and rentable garages are available on site.
Part of the re-envisioned next generation of apartment homes by Quarterra – Emblem Riverside consists of one- and two-bedroom apartment homes, ranging from 738 to 1,194 square feet. Phase II will include one, two and three-bedroom homes, ranging from 737 to 1,719 square feet. In-home highlights include move-in ready internet, pendant lighting, quartz countertops on kitchen counters and islands, Whirlpool appliances including washers and dryers, wood-style vinyl plank flooring in living spaces and tiled shower and tub surrounds.
All residents will have access to a pool area with sundeck and seating, outdoor grilling stations, clubhouse with social kitchen, a fitness center, social lounge, outdoor veranda, secure package room and dog run.
Emblem Riverside is Quarterra’s fifth Georgia community, joining Gentry and Vireo in Atlanta, Emblem Grayson in Loganville, and Emblem Conyers, currently under construction, in Conyers.