Author: ipgocorp

MILWAUKEE, WI – CIBC announced its involvement in the Thrive on King project, a historic adaptive reuse initiative that will transform a former department store building into 90 units of affordable housing in downtown Milwaukee.
“We are excited to be a part of the Thrive on King project, which will not only create much-needed affordable housing, but also contribute to the preservation of Milwaukee’s rich history,” said Tony Hernandez, head of Community Investment at CIBC Bank USA. “CIBC is especially passionate about this project because it represents a significant investment in Milwaukee’s future, and we are proud to be a part of it,” said Hernandez.
CIBC’s $45.5 million commitment through equity investment and construction lending will play a pivotal role in realizing the vision of this project. The community impact of Thrive on King is significant. The adaptive reuse of a vacant, historically significant store, will create 90 units of affordable housing in downtown Milwaukee. These units will serve as low-income residences, with 27 units specifically designed for seniors aged 55 and above.
The commercial space within Thrive on King will be anchored by the Greater Milwaukee Foundation and the Medical College of Wisconsin community-facing centers and institutes. The space will serve as a hub for a wide range of services including food, health and wellness programs, art, culture, history, community gatherings, early childhood education, generational programming, workforce development and business support.
“Thrive on King is more than just a development project. It’s a symbol of hope and progress for the city of Milwaukee,” said Hernandez.

DALLAS, TX – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the construction completion of Perch Denton, a 195-unit, single-family build-for-rent community in the Dallas suburb of Denton, Texas. Capital Square has partnered with Good + West Residential and Montgomery Street Partners as co-developers on the project.
Substantially all certificates of occupancy have been issued and nearly one-third of the homes are already occupied with strong leasing activity underway.
“Capital Square is a vertically integrated, national real estate firm built on three pillars: invest, build and manage,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Perch Denton is a part of Capital Square’s build strategy that gives the firm a competitive advantage by building our own investment properties for the various investment programs, DST, opportunity zone funds and the REIT.”
Located at 2205 N. Bonnie Brae Street, the 18-acre development includes a mix of one-, two- and three-bedroom single-family homes that average 1,005 square feet. Community amenities include a resort-style pool, fitness center, business center, dog park, pavilion and pickleball court all developed and marketed under the Perch brand.
An abundance of retail, shopping and dining options can be found within a mile of the property, including the adjacent Rayzor Ranch Marketplace anchored by Walmart, Sam’s Club and H-E-B. Immediately to the south is Rayzor Ranch Town Center, which contains an array of fast-casual and sit-down dining options, including In-N-Out, Chipotle, Chili’s and more.
With direct access to Interstate 35 and University Drive, Denton’s primary east and west thoroughfares, residents have direct access to downtown Denton, Frisco, McKinney, Dallas Fort Worth International Airport, Fort Worth and Dallas.
“Denton and its neighboring counties have experienced outsized population and job growth. Capital Square is pleased to help alleviate the shortage of quality housing with the delivery of 195 new single-family homes,” said Whitson Huffman, co-chief executive officer. “Leasing activity has been strong, and we are exceeding our projections for realized rents, underscoring our belief that the Dallas Metroplex is an ideal market for high-quality build-for-rent communities like Perch Denton.”
Capital Square formed a joint venture with Good + West Residential and Montgomery Street Partners to develop Perch Denton, which has been capitalized with funds raised from accredited investors in Capital Square Denton BFR, LLC, a private placement investment sponsored by Capital Square.

AUSTIN, TX – In partnership with the Housing Authority of the City of Austin (HACA), The NRP Group celebrated the grand opening of The Markson, a 330-unit mixed-income housing development in Austin s coveted Barton Springs community. As a part of both organizations commitment to creating affordable housing options for Austin residents, more than half of the units will be reserved for residents earning 80% of the Area Median Income (AMI).
The Markson meets the neighborhood s demand for quality, accessible workforce housing, and embodies the vision that Dan Markson carried throughout his 30-year career. Through his tireless efforts, bold leadership, and brilliant partnership development, Dan Markson changed the affordable housing landscape, leading to the creation of over 29,000 multifamily units in Texas, with more to come.
The Markson is one of the eight developments created in partnership with HACA, comprising over 2,300 units throughout the city. The organization serves over 25,000 Austin residents through 21 Project-Based Rental Assistance Properties, Voucher Programs, and the Austin Affordable Housing Corporation.
“As a part of our collective vision to provide stable, affordable housing options to essential workers, The Markson reflects our unwavering commitment to addressing the affordable housing shortage in Austin, said Michael Gerber, President and CEO of the Housing Authority of the City of Austin. Dan Markson’s legacy is embodied in The Markson, and this development will help ensure the integral presence of our community members in Austin’s diverse fabric.
The Markson offers affordable rents for people who provide critical services, including teachers and first responders, close to their places of work. To assist local school teachers in finding affordable housing, NRP Group is also extending one month of free rent to all employees of nearby St. Andrew’s Episcopal School. The community’s location offers easy access to downtown Austin and nearby employment centers, like Yeti and NXP, catering to essential workers and local employees alike.
Thanks to our continued collaboration with HACA, The Markson stands as a testament to Dan s vision and dedication to delivering housing options for essential workers throughout Texas, said Debra Guerrero, Senior Vice President of Strategic Partnerships and Government Affairs at The NRP Group. We honor his legacy, as well as HACA s vision to provide housing affordability for Austin families.
The Markson residents will enjoy an array of outdoor amenities, including a landscaped pool courtyard with private cabanas, an outdoor kitchen with grills, bocce ball, volleyball courts, and a dog park. The property s sky lounge offers indoor and outdoor gathering spaces complemented by sweeping views of downtown Austin, providing a serene retreat for residents, families, and their guests.
“We are thrilled to unveil The Markson, a project in the heart of Barton Springs that combines high-quality construction with affordability,” said Parker White, Vice President of Development at The NRP Group. “NRP has a rich history in Austin, standing as a pioneering force for affordable housing across Texas through impactful collaborations with key partners like HACA. Thanks to this continued support, we can provide essential workers with the opportunity to live in a vibrant community while investing in the local economy.”
Residents will also have access to a pet spa, bike storage, conference rooms, co-working lounge space, coffee bar, fitness center, game room, and package concierge. The community features a central parking garage with electric vehicle charging stations for added convenience. The Markson comprises one- to three-bedroom units with monthly rents ranging from $1,487 to $3,182. Residences are available in two different in-unit finishes—toffee flat panel or cream shaker style—and offer stainless steel appliances, pure white quartz countertops, luxury vinyl plank flooring, and keyless entry. A selection of units feature outdoor balconies.
Situated within the lush backdrop of the Barton Creek Wilderness Park, residents of The Markson will have access to a scenic nature trail, reservoir, the nearby Barton Creek Greenbelt, and over 20 acres of preserved nature area. The entire property is landscaped with native prairie plantings.
In addition to the Markson, NRP is developing Alameda at Oak Hill Development in collaboration with the Austin Affordable Housing Corporation, which will continue to grow affordable housing options in the Austin market.

ALEXANDRIA, VA – CIM Group announced that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia. CIM Group acquired the community in December 2017.
Located at 140 South Van Dorn Street, Mason at Van Dorn provides residents spacious homes offered in a range of floor plans from studio to two-bedroom configurations. The property features an on-site convenience store and deli as well as two resort-style swimming pools, tennis courts, barbeque and picnic areas, and other outdoor gathering and recreation areas.
Over the course of its ownership and management of this substantial apartment community, CIM Group instituted a program of improvements to Mason at Van Dorn, which was built in 1972. Throughout CIM Group s ownership, upgrades to the property s communal areas and amenities were completed including modernizing the club house creating a host of gathering spots such as a kids room, business center, fitness center, lounges, and a theatre room. CIM Group also focused on the community s outdoor recreation spots including the addition of a fully equipped kids playground and a grilling area and an upgrade to the large dog park. In addition, CIM Group enhanced resident services and added an Amazon Hub package area and Tide Dry Cleaning locker space.
As residences became vacant, CIM Group renovated with new flooring, cabinetry, appliances, fixtures, and lighting, as well as adding full-size washers and dryers in select units.
Mason at Van Dorn is located adjacent to WestEnd Alexandria, the prominent redevelopment of the 52-acre former Landmark Mall which includes the future Inova Alexandria Hospital Campus. Mason at Van Dorn, conveniently situated just off I-395 inside the Capital Beltway, is four miles from Old Town Alexandria and one mile north of the Van Dorn Metro Station.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

LAREDO, TX – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, announced its partnership with Texas A&M International University (TAMIU) to manage the Office of Housing and Residence Life to create a well-rounded operations and residential life program for the University’s two student housing communities, the Residential Learning Community and University Village.
“We’re excited to work with Texas A&M International University to create an elevated experience for students who live in campus housing,” Bradley Shaw, Senior Director of Real Estate, said, “We view student housing as more than just a place to live, and plan to develop a student life that will help build a new culture among student residents as well as with the broader campus community.”
Greystar will manage all aspects of TAMIU’s on campus housing including marketing, leasing, facilities, custodial, grounds, and residence life.
Dr. Pablo Arenaz, TAMIU President, affirmed the importance and value of the campus housing experience.
“Campus-based undergraduate and graduate housing is more than a place to sleep, it is a place to live the University experience. Our new residential life initiatives embrace the whole University experience including academic support and out-of-classroom educational experiences as our student residents transition from their parent’s home to their own home,” Dr. Arenaz noted.
“Over the last two years, the University has invested $6,000,000 in our housing facilities. Our overarching goal is to create the TAMIU living experience as a community. The building of strong communities and positive interactions among and between community members, campuswide, becomes a life skill that will benefit our students and graduates for years to come,” he explained.
As with all TAMIU auxiliary services, housing is part of the University’s Campus Safety and Planning department in its Division of Finance and Administration.
TAMIU vice president for Finance and Administration Juan J. Castillo highlighted the University’s aspirations for the program.
“As we continue to move beyond the Pandemic era, our priority for residential life here is to rebuild community. Working together with Greystar, we will see a return of the hallmark programs TAMIU’s Office of Housing and Residence Life was known for,” Castillo shared.
In addition to the recent investments, other changes Greystar will make, with great support from the University, include increasing the number of resident advisors and staff, and providing them with more training and resources to bring residential life to the forefront of the TAMIU campus experience. Through sound operational support structures supporting a dynamic housing operation, the University has committed significant resources for Greystar to begin other upgrades, near and long term, and students will see these projects commence over the coming months.
University Village is a garden-style 250-bed community with two- and four-bedroom options. It has a pool and a clubhouse as well as a study space, computer lab, and laundry facilities. The on-campus Dusty Food Pantry also has a satellite location in University Village.
The Residential Learning Community is a more traditional 436-bed residence hall-style community that consists of four buildings with three floors each, indoor access to the residential suites, a community center, game, media and conference rooms, a pool, and laundry facilities. A community marketplace, operated by Aramark Collegiate Hospitality, will be re-opening and offering convenient food options, both packaged and grab and go.

AUSTIN, TX – Endeavor Real Estate Group announced that its newest apartment community, Solomon, is open and welcoming residents. Professionally managed by Greystar, Solomon is comprised of 369 apartment homes in studio, one- and two-bedroom layouts that range from approximately 500 to 1,340 sq. ft.
The residences feature smart home technology including Bluetooth-enabled entry locks, Wi-Fi-enabled lights, smart thermostats and USB ports throughout powered by AT&T Fiber. Other features include built-in serving bars and wine fridges, premium wood-look floors, custom full-height cabinets with brass pulls, large windows for natural light, custom closet shelving, and oversized laundry rooms.
The rooftop pool and amenity deck steals the show with 270-degree views, a 25-foot video display, outdoor grilling and dining areas, and a 1,300-square foot resort-style covered cabana lounge. The content creation room and podcast studio are unique to the submarket, giving creative residents a place to hone their craft. Other amenities onsite include a state-of-the-art fitness center, two activated courtyards with outdoor living and coworking spaces, a clubroom with kitchen and gaming/TV area, and a fifth floor sky lounge with kitchen and entertaining spaces and direct pool area access. Residents have access to 1GB Wi-Fi throughout the common areas.
Solomon will also have onsite retail and will be home to a new location of Fresa’s Restaurant coming soon. The Mueller neighborhood provides plenty of additional dining and nightlife options including Paco’s Tacos, Capriotti’s Sandwich Shop, Chilantro, WitchCraft Tap Room & Bottle Shop, Lazarus Brewing Co. and more. Recreational amenities include Alamo Cinema & Drafthouse, Mueller Lake Park and trails, Texas Farmers Market at Mueller, The Thinkery, Morris Williams Golf Course, and Blue Starlite Mini Urban Drive-In, among others. The community is conveniently located just two minutes from I-35 and is a short drive from Downtown Austin.
“Solomon has a high-end feel with market-leading finishes and amenities that residents will love,”Collin Aufhammer, Vice President of Development, said. “The community is perfect for residents seeking the close proximity to amenities of the urban Mueller neighborhood but without having to pay the high prices of Downtown Austin for that sort of lifestyle.”

DALLAS, TX – Waterford Property Company, The Vistria Group, and Northern Liberties, in partnership with the Dallas Housing Finance Corporation (DHFC), announced the acquisition of a 395-unit class A multifamily community located at 8169 Midtown Blvd. in Dallas.
The joint venture purchased the property, known as Domain at Midtown Park, and at the same time entered into a long-term ground lease with the DHFC. With this acquisition, the owners will immediately restrict rents for new qualified residents to create stable workforce housing as part of an agreement with DHFC in exchange for 100 percent property tax abatement for 99 years.
“Core to our investing and impact philosophy is that creating more affordable housing is a crucial element in building more resilient households and vibrant communities, said Margaret Anadu, Senior Partner and Head of Real Estate at The Vistria Group. We are thrilled to partner with Waterford Property Company and Northern Liberties to ensure housing is affordable at Domain for years to come and look forward to working alongside our community partners to deliver essential services to our residents.”
Created by the City of Dallas in 1984, DHFC provides tax-exempt mortgage revenue bonds and other support for the acquisition, construction, or substantial rehabilitation of multifamily housing as part of Dallas department of housing and neighborhood revitalization.
Through this acquisition, Waterford is continuing its mission to pursue innovative essential housing solutions. We ve worked diligently over the last few years in California to build a portfolio of workforce-focused housing using a creative approach to lower costs for residents impacted by the high cost of living. Now we re able to focus on a similar much-needed solution in Texas with our partners and the City of Dallas, said Waterford Co-Founder John Drachman.
Northern Liberties entry into the Dallas market highlights our investment thesis to acquire well-located assets in high-growth markets where we can create or preserve workforce and affordable housing. Our mission is to create housing stability while providing year-round services that empower our residents. By acquiring properties, investing in people, and creating community, people prosper, said Northern Liberties Co-Founder and CEO Sharif Mitchell.
As Dallas has experienced strong growth over the past 10 years, its rents have continued to climb, like many across the country, and the city is dealing with affordability issues. The cost of housing has gone up as much as anywhere in the United States and police, teachers and other essential workers are the ones who are at risk. This is just the beginning of our focus on Texas and the opportunity to be part of the solution to bring more affordability into the market, said Waterford Co-Founder Sean Rawson.
Domain at Midtown Park was built in 2016. The community is located within the suburban neighborhood of Lake Highlands in Dallas, strategically positioned in the commercial district of Midtown Park. The property offers an abundance of amenities including clubhouse, fitness center, business center, BBQ grill area, outdoor lounge, cabana/pergola, dog park, and resort-style pool, storage units and a golf simulator.
The community s current tenant base is comprised primarily of moderate-income workforce employees and families. As noted, the joint venture will restrict rents at the property setting aside 51 percent of the units for residents who make 80 percent average median income (AMI), 39 percent of the units for families who make 140 percent AMI, and 10 percent of the units at market rate.
Freddie Mac through Walker & Dunlop provided debt for the transaction.

SAN ANTONIO, TX – Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced it has sold BLVD at Medical Center, a 248-unit apartment community in San Antonio. The firm acquired the property in June 2016, and after instituting a comprehensive capital improvement program, closed the sale on March 19.
Hamilton Zanze’s successful renovation efforts included upgrades to the apartment homes, building exteriors, common-area amenities and landscaping. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently.
“We are very pleased with the disposition of BLVD at Medical Center,” said Anthony Ly, Senior Director of Transactions at Hamilton Zanze. “As we always aim to do, we were able to add value and optimize the living experience through the strategic execution of a capital improvement program and a commitment to outstanding resident service. As a result, the community performed well, created a strong cash flow and delivered targeted returns to our investors, and was also a sought-after asset on the for-sale market.”
Situated at 4980 USAA Boulevard approximately 13 miles northwest of Downtown San Antonio, BLVD at Medical Center was built in 2016 and features one-, two- and three-bedroom units with an average size of 776 square feet. Apartment features include stainless steel appliances, walk-in closets, granite countertops and full-size washers and dryers. Community amenities include a resort-style pool, yoga studio, 24-hour fitness center, outdoor kitchen, playground, e-lounge/business center and valet trash service.
BLVD at Medical Center is located next to a protected greenbelt and offers easy access to Interstate 10 and Loop 410. The community also is near many of the area’s major employers, including the global headquarters of USAA, South Texas Medical Center, Valero Energy and the University of Texas at San Antonio.
The sale represents Hamilton Zanze’s third disposition in 2024. The firm has sold over $4 billion in multifamily properties since its founding in 2001.

PEARLAND, TX – Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of Discovery at Shadow Creek Ranch apartment community in the growing Houston suburb of Pearland, Texas. With this acquisition, Knightvest now owns an active portfolio of over 35,000 units, firmly establishing itself as one of the largest apartment owners in the United States.
Originally built in 2010, the 347-unit apartment community features spacious garden-style buildings. Knightvest plans to renovate and reposition the property by updating unit interiors with contemporary finishes to meet the demands of modern residents. Additionally, Knightvest plans to enhance the property’s amenities, including an expansion and renovation of the fitness center, pool, and clubhouse. As part of the modernization efforts, Knightvest will rename the community to Barron Park.
“Over the last decade, we’ve quietly grown to become one of the largest multifamily owners in the country by delivering dependable results driven by our consistent ability to identify underperforming properties and transform them into modern communities that compete with new construction,” said David Moore, Knightvest Founder and CEO. “Once again, our talented team has identified a compelling opportunity with the Barron Parkcommunity with the purchase price significantly below the replacement cost.”
The Houston suburb of Pearland, Texas, faces a limited supply of high-quality multifamily housing options and no remaining multifamily sites available to develop. At the same time, it’s experiencing growing demand given its proximity to the world’s largest medical center with $5 billion in new development underway at the Texas Medical Center. The growing area boasts top-tier school districts, strong proximity to major employers, and a robust economy.

JACKSONVILLE, FL – Multifamily real estate investment firm, Southeast Property Group, has acquired a two-property, 328-unit apartment portfolio in Jacksonville, Florida. Due to the distressed nature of the properties, Colonial Forest and Northwood Apartments will be re-branded to The Belmont and Avenue at 1601, respectively.
The Florida based investment firm has already begun a $9.7 million renovation program that includes significant updates, such as: new roofs, exterior paint, re-plumbing, amenity and landscape upgrades and other improvements, including updates to all of the apartment unit interiors.
“We are very excited to have had the opportunity to purchase both assets at below market pricing. We’re looking forward to improving not just the look of the properties, but the overall community for the immediate area as well as for the City of Jacksonville.” said Southeast Property Group Principal, Joe Rubin.
The properties were acquired from the Chetrit Group, headed by Joseph Chetrit and were originally acquired as part of an 8,000-unit portfolio, secured by a loan from JP Morgan. Southeast Property Group was presented the distressed opportunity from an off-market brokerage relationship.
“We are pleased with being able to transact with Mr. Chetrit. It was a very unfortunate situation, but thanks to our capital partners, we stand ready with plenty of dry powder to provide capital and expertise in these exact scenarios. In a very uncertain market, our team was able to move swiftly to make sure the transaction closed on the agreed upon price and terms.” said Southeast Property Group Principal, Richard Shuster.