Author: ipgocorp

BOULDER, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the sale of Notch66, a 336-unit luxury multifamily community located in Longmont. The Wolff Company, a Scottsdale, Ariz.-based real estate investment and development firm, purchased the property through its core-plus acquisition vehicle for an undisclosed price.
Notch66 was developed with equity from Watermark 2021 Development Fund III, LP. Construction began in February 2022 and was completed in June 2024. At the time of sale, Notch66 was 93% leased.
“The successful sale of Notch66 reflects our commitment to delivering thoughtfully designed, high-quality communities in vibrant growth markets like Longmont,” said Josh Purvis, managing partner for Thompson Thrift Residential. “With its proximity to Boulder and Denver, a strong employment base, and exceptional quality of life, Longmont continues to attract top-tier residents. We’re proud of the lasting value Notch66 brings to the community and confident it will remain a desirable place to live for years to come.”
Situated on approximately 18.4 acres at 2514 Main Street and Ute Highway, Notch66 features one-, two- and three-bedroom apartment homes with upscale finishes, including quartz countertops, stainless steel appliances, hardwood-style flooring, full-size washers and dryers, walk-in closets, and private yards and detached garages in select units. Community amenities include a clubhouse with resident gathering spaces, a heated resort-style swimming pool, a fully equipped fitness center, community-wide Wi-Fi and a dog park.
The sale of Notch66 reflects Thompson Thrift’s continued activity in Colorado, where the company has developed 22 communities statewide, including three communities in Longmont.
The transaction was brokered by CBRE, with Shane Ozment, Terrance Hunt, Chris Hart and Brad Schlafer representing Thompson Thrift.
“We had an incredible number of offers for Notch66,” said Shane Ozment, vice chairman for CBRE. “Its position as one of the fastest lease-up communities in Longmont, driven by its premium location and upscale finishes, clearly resonated in the marketplace.”
Over the past 40 years, Thompson Thrift has invested more than $7.1 billion into local communities and has become known as a trusted partner engaged in all aspects of development, construction, leasing, and management of high-quality real estate projects across the country.

ATLANTA, GA – ECI Group, with joint venture partner Marcus Partners, announces the off-market acquisition of Riverside Parc Apartments, a seven-building, 280-unit garden apartment community at 1925 Waycrest Drive Southwest, in Atlanta, GA.
“ECI is thrilled to acquire Riverside Parc with first-time joint venture partner, Marcus Partners,” said Peter Miklius, Acquisitions Director at ECI Group. “We are optimistic about the future growth prospects at this property and in the Atlanta apartment market in general, as the current oversupply of apartments is absorbed in 2026. The property is approximately 15 years old, and in mostly original condition, so we plan to modernize the amenities and unit interiors, which will make the property more enjoyable for the residents and be a long-term benefit to the neighborhood.”
ECI’s modernization plans include renovating the clubhouse and other amenities, adding washers and dryers in all the units, and upgrading the unit interiors, including paint color change, framing of bathroom mirrors, and replacing plumbing fixtures.
Riverside Parc features exceptional access to more than 26,000 jobs in the nearby Fulton Industrial Corridor and is a short drive to Hartsfield-Jackson International Airport, which supports more than 448,000 regional jobs. The surrounding neighborhood contains high-quality residential and retail uses, including the new Sandtown Crossings Shopping Plaza, which includes a Publix, Starbucks, CVS, and the Camp Creek Marketplace, which includes an LA Fitness, Target, Lowe’s, along with other national retailers.
ECI Group has been one of the most highly regarded, privately owned real estate organizations in the United States. The firm is fully integrated, with development, construction, investment, and property management groups that have garnered national recognition for innovation and performance in the multifamily industry.

BOSTON, MA – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of Boston Bay and Hope Bay, two adjacent affordable housing properties comprising 133 family units located in the Dorchester neighborhood of Boston, Massachusetts. This acquisition marks HVPG’s entry into the Massachusetts affordable housing market and expands the firm’s footprint across New England.
The properties, located at 205 Magnolia Street (Boston Bay) and 5 Norwell Street (Hope Bay), consist of 20 buildings across two scattered sites originally constructed between 1890 and 1920. Total project costs related to this preservation project are approximately $52.5 million, funded with a Fannie Mae loan provided by KeyBank.
HVPG is planning approximately $6.4 million in renovations, averaging ~$48K per unit. The comprehensive scope of work will include complete kitchen and bathroom upgrades with water-saving fixtures, energy star appliances, and modern, market rate finishes. There will be additional common area enhancements and upgraded security features added throughout both properties. Additionally, LED lighting will be installed at building exteriors and common areas to enhance resident safety and energy efficiency.
“We are proud to bring HVPG’s preservation platform to Boston and Massachusetts,” said Jason Bordainick, Co-Founder and Managing Partner of Hudson Valley Property Group. “Boston Bay and Hope Bay represent an opportunity to preserve critical affordable housing in one of the nation’s most supply-constrained markets. Our investment will ensure that 133 families can continue to call Dorchester home while benefiting from modernized living spaces and enhanced amenities. We look forward to partnering with the City of Boston and HUD to safeguard affordability and elevate quality of life for residents.”
HVPG secured new HUD Project-Based Section 8 HAP contracts covering 100% of the units which are leased to income-qualified residents. These contracts limit household rental payments to 30% of annual income. As a result of this acquisition rehab, affordability will be extended for an additional 27 years at Boston Bay and 31 years at Hope Bay.
As part of HVPG’s commitment to enhancing quality of life for residents, the firm will implement several community-focused initiatives at both properties. Through a partnership with Pinata, residents will have access to renters’ insurance and credit reporting services that enable them to build credit by reporting on-time rent payments to credit bureaus. HVPG will introduce its signature Community Enhancement Program, which includes the installation of security cameras and access control systems throughout both properties, complemented by continued roaming guard patrols to ensure resident safety. Additionally, HVPG will retain UHM Properties as onsite property management, ensuring continuity of the resident services programming currently offered through their central office.
This acquisition builds on HVPG’s regional expansion strategy and commitment to preserving affordable housing in high-cost markets across the Northeast. The firm currently operates properties across 13 states, with their current portfolio spanning more than 16,300 units nationwide.
SVN Affordable | Levental Realty was the exclusive listing broker for the seller and Jamie Renzenbrink and Gene Levental led the transaction on behalf of the firm.
“It was a privilege to represent the seller’s interest in this transaction, and after multiple rounds of competitive bidding with many qualified buyers at the table, we are pleased the seller selected Hudson Valley as the new owners of Boston and Hope Bay,” said Gene Levental, Managing Director, SVN Affordable. Given the age and construction of the buildings, meaningful renovation can be challenging, but HVPG’s proposed capital plan and financing structure will allow for long-term preservation and affordability of the assets, which was extremely important to the seller.”

RICHMOND, VA – Capital Square, a leading sponsor of tax-advantaged real estate investments and an active developer and manager of housing communities across the nation, has officially opened Chasen, a 352-unit, Class A, multifamily community in Richmond, Virginia’s Scott’s Addition qualified opportunity zone. This milestone marks the firm’s fifth successful opportunity zone development completed in Richmond’s premier dining and entertainment neighborhood.
The grand opening event featured a host of local dignitaries, including Richmond Mayor Dr. Danny Avula, Katherine Jordan of Richmond City Council, Capital Square Co-CEOs Louis Rogers and Whitson Huffman, and other key partners and development team leaders. After the reception and speeches, attendees toured the building’s market-leading residences and amenity spaces.
“The opening of Chasen represents another important milestone for Capital Square and for the continued evolution of Scott’s Addition,” said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. “A testament to how opportunity zone legislation can transform both neighborhoods and investor outcomes, Chasen reflects our commitment to creating high-quality residential communities that elevate the urban living experience. With its luxury amenities and premium finishes, Chasen offers residents a sophisticated lifestyle while reinforcing Scott’s Addition’s position as one of Richmond’s most dynamic and desirable neighborhoods.”
Located in the heart of Scott’s Addition, the community includes three six- and seven-story residential buildings above podium parking with over 5,350 square feet of ground-level retail space. Units average 845 square feet with premium appliances and finishes, including quartz countertops, tile back splashes and luxury tile throughout. Community amenities include a resort-style zero-edge pool, fitness center, wellness studio, co-working space, dog wash station, resident lounges, lush courtyards with native Virginia landscaping and a rooftop terrace.
Capital Square has been the most active developer within the Scott’s Addition neighborhood since 2020, having completed five Class A mixed-use multifamily communities: INK at Scott’s Collection, VIV at Scott’s Collection, GEM at Scott’s Collection, Otis and Chasen, all within walking distance of one another.
The project team included Poole & Poole Architecture as building architect, Timmons Group as civil engineer and Hourigan Construction as general contractor. The design team included ENV as interior designer and Marvel Designs as landscape designer.
Chasen was funded with proceeds from Capital Square’s seventh qualified opportunity zone fund, CSRA Opportunity Zone Fund VII, LLC. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones. More recently, Capital Square launched CSRA Opportunity Zone Fund IX, LLC to fund the construction of another luxury multifamily development in the Scott’s Addition neighborhood.
Natalie Mason, co-head of development at Capital Square, added, “Scott’s Addition has incredible energy, and Chasen puts residents right in the center of it all. From the local breweries and restaurants to the walkable streets and creative community, this neighborhood offers something truly unique. We’re excited to give people the opportunity to live here and experience everything this area has to offer.”

ATLANTA, GA – NewStar Exchange, a subsidiary of NEWSTAR, announced that it has acquired Sweetwater Springs, a newly-constructed Class A townhome apartment community in Atlanta, Georgia, and launched a new Delaware Statutory Trust offering for accredited investors.
The Property features 95 two-, three- and four-bedroom homes averaging 1,803 square feet. All homes feature attached garages and private balconies or patios. Construction of the community was completed in 2025 and as of closing the Property was 94% leased.
Community amenities include a resort-style pool, cabana with restrooms and showers, on-site maintenance and leasing office, playground, and a dog park. Interior finishes feature luxury vinyl plank flooring, granite countertops, and stainless-steel appliances. NEWSTAR Exchange acquired the property on behalf of Newstar 17 Sweetwater Springs, DST.
“We have evaluated more than 200 acquisition opportunities in our NEWSTAR Exchange business since launching in 2022, closing on just four properties through the end of 2025,” said Boone DuPree, Chief Executive Office of NEWSTAR. “We have been selective in waiting for opportunities to invest in high quality communities in high quality locations, at the right price and with the right financing, and Sweetwater Springs meets those objectives fully. We look forward to a successful offering to accredited investors seeking tax deferral with the opportunity for passive income and appreciation in an attractive institutional real estate asset.”

CHARLOTTE, NC – FCP announced the $41.25 million acquisition through FCP’s Housing Preservation Fund of Cottages of Monroe (formerly Yardly Monroe), a 151-unit cottage-style apartment community in the rapidly growing suburb of Monroe, in Union County, near Charlotte, NC. The one-story, detached and semi-detached cottages were purpose-built in 2024 as a rental community.
“The Cottages of Monroe investment supports our fund mandate to maintain affordability in a key growth market,” said Summer Haltli, Partner and Co-Founder of the FCP Housing Preservation strategy. “FCP’s acquisition of Cottages of Monroe is driven by the opportunity to acquire a well-occupied, newly delivered, rental community in a favorable submarket at a favorable basis.”
Residents at the Cottages of Monroe benefit from the opportunity to live in stand-alone, newly constructed homes in a strong school district at a discount to home ownership in the same submarket. Cottages of Monroe provides a high-quality living experience for the numerous healthcare, education, and aerospace workers nearby. The submarket has experienced some of the strongest population growth in the Charlotte region over the past 5 years.
Cottages of Monroe, with one- and two-bedroom options, provides all the conveniences and amenities of multifamily living in family-friendly, private cottages with private, enclosed back yards and one-story accessibility.
FCP has retained Greystar to manage the property. FCP will integrate resident services focused on education, economic mobility, and health to improve the resident experience and increase resident retention.

CHARLOTTE, NC – Sherman Residential acquired Elan Prosperity Village, a Class A multifamily property in Charlotte, NC, and renamed it The Wrenley. The Wrenley is a 300-unit luxury apartment community located in the heart of the rapidly growing Prosperity Village submarket of Charlotte.
Situated just off Interstate 485 the property offers exceptional connectivity to major employment centers, with access to more than 300,000 jobs within a 20-minute drive, including Uptown Charlotte, University Research Park, and the Concord industrial corridor. With the recently added Vanguard campus in University Research Park, The Wrenley’s residents will drive only five minutes to reach top employers such as Vanguard, Allstate, TIAA, and Wells Fargo.
Within the Prosperity Church Road neighborhood, The Wrenley delivers walkable retail and restaurants at three major shopping centers. Students can enroll in Charlotte-Mecklenburg public schools with ten magnet schools within five miles. Plus, the University of North Carolina’s main campus is just one neighborhood away.
The Wrenley’s midrise property and its resident-focused amenities provide: Studio to two-bedroom apartments expanding to over 1,200 square feet; A designer clubhouse with marble and natural wood finishes; Luxury options, such as quartz countertops and matte black fixtures; Focused spaces to work or study while using property-wide wifi; A private park with multiple fireside lounges and a gaming lawn; and Conveniences like in-unit washers and dryers, two EV chargers, and a 24-hour fitness center.
Sherman Residential s Senior Vice President stated: We’re proud to add a second property to our Charlotte portfolio within just four months of returning to North Carolina. After selling out of the market in early 2025, we’re entering 2026 with renewed momentum and a strong foothold in north Charlotte.
Sherman Residential has been in the real estate business for over 100 years and currently owns assets in six states. The family-owned company is headquartered in north suburban Chicago.

SAN DIEGO, CA – Canyon Partners Real Estate and MG Properties announced their acquisition of the Shift Apartments, a multifamily building in the Downtown submarket of San Diego, CA.
Shift Apartments is comprised of a 21-story and 5-story multifamily community with 368 residential units, 18,840 square feet of ground floor retail space, and a 501-space structured parking garage. The property was completed in 2018 and includes units with high-quality finishes including quartz countertops and kitchen islands, designer kitchen and bath plumbing fixtures, and stainless-steel appliances.
Building amenities include a modern fitness facility, dog park, EV charging stations, and a co-working space with WiFi and private offices. The 21st floor also includes a sundeck, pool, spa, and sky lounge, which offers barbecue grills, bar seating, a fire pit, and clear views of San Diego Bay and the Downtown skyline.
The property is located in the East Village neighborhood of Downtown San Diego with walkable proximity to bustling pedestrian areas including Petco Park and the Gaslamp Quarter while being a convenient drive from Little Italy, Seaport Village, and Balboa Park. The Park and Market Trolley Station connect the property to major employment hubs throughout San Diego County, including UC San Diego, Sorrento Valley, and the Naval Base San Diego.
“East Village is undergoing a meaningful transformation, supported by strong demographic trends, infrastructure investment, and proximity to San Diego’s major employment centers,” said MG Properties President Jeff Gleiberman. “We are pleased to be expanding our apartment portfolio in San Diego and partnering with Canyon on this transaction, as this asset presents a unique opportunity to apply our operational expertise.”
Canyon has been an active provider of equity and debt capital across California for more than two decades and continues to invest in high-quality real estate projects in major markets throughout the United States. Since its inception, Canyon has capitalized ~$7.1 billion of total projects across all asset types in the state of California.

WASHINGTON, DC – Penzance, a vertically integrated real estate fund manager, acquired approximately $200 million in multifamily and residential assets totaling 1,100 units and over 1.2 million square feet during the fourth quarter of 2025, significantly expanding its footprint across Virginia and the Carolinas. The four projects target a mix of high-growth markets with strong employment drivers and limited new supply.
The acquisitions include stabilized communities purchased well below replacement value, along with a build-to-rent development, deploying capital across a range of risk-adjusted strategies. By combining selective redevelopment, operational upgrades, and new development, Penzance positions each of the four assets to capitalize on local market strength while diversifying its portfolio
These acquisitions highlight the attractive opportunities we are seeing in residential projects with solid fundamentals and represent meaningful growth opportunities in target markets, across Virginia and the Carolinas, said Jacob Rosenberg, Senior Vice President, Investments at Penzance. A portfolio of well-located assets with attractive yields, complemented by strategic development, allows us to deliver strong risk-adjusted returns for our fund investors. We are grateful to the advisors, partners, and brokerage teams who helped us close these transactions expeditiously, adding meaningful scale for Penzance while meeting sellers and partners individual needs.
Having worked with Penzance for years and on multiple transactions, I continue to be impressed with its solution-oriented approach to acquisitions, allowing Penzance to meet the needs of various sellers on tight timelines, said Drew White, Investment Sales Senior Managing Director from Berkadia.
The fourth-quarter acquisitions include:
Presley Oaks (Charlotte, NC): A 318-unit multifamily community located in North Charlotte, inside the I-485 loop near University City and Research Park, with convenient access to Uptown. Built in 1996, Presley Oaks offers strong value to tenants with spacious apartments, 9 ceilings, private garages, a pool, and a fitness center. Its proximity to major employers, retail, and dining supports robust rental demand.
Compass at City Center (Newport News, VA): A 396-unit garden-style multifamily community in the heart of Newport News and Hampton Roads. Built in 1985, the property comprises a mix of one-, two-, and three-bedroom homes averaging 995 square feet each. Situated adjacent to the City Center at Oyster Point live-work play district, the community offers walkable access to retail, dining, major employers, and transportation corridors, including I-64, supporting ongoing demand in a market with limited new supply.
Nexus Luxury Apartments and Retail (Virginia Beach, VA): A 268-unit four-story multifamily and retail community built in 2018 in Virginia Beach s Kempsville corridor. Residences feature one and two-bedroom units designed to maximize space and comfort, along with 30,000 sf of on-site retail and amenity areas that support a high-quality resident experience. Its central location in the Hampton Roads area, near I-264 and I-64, offers convenient access to shopping, dining, and employment hubs. The asset was purchased from the original developer, providing liquidity for future projects.
Arden Ridge (Asheville, NC): A planned 109-unit build-to-rent townhome development on a 10-acre site near Asheville. Arden Ridge will deliver three and four-bedroom townhomes with private garages and shared community space, offering family-oriented rental housing in a market with growing demand and limited family options. Pre-construction is underway, with a groundbreaking expected early 2026 and the first homes slated for delivery in the second quarter of 2027.
In 2026, Penzance plans to make new investments across the Mid-Atlantic, from New Jersey to South Carolina. The firm s expanding portfolio reflects continued growth across multifamily, industrial, data center, and other commercial assets, demonstrating its ability to execute across asset types and geographies while delivering consistent, risk-adjusted returns.

PALM BEACH GARDENS, FL – Aventine Development and Seawood Builders celebrated the groundbreaking on Phase I of Arbor House, a refined new residential community designed to pair timeless sophistication with an easy, connected way of living.
Arbor House is a luxury multi-family development with 13 stories and 302 units, offering a mix of studio to three-bedroom apartments. An attached garage with 480 parking spaces complements amenities, including a 7,000-square-foot deck on the eighth floor featuring a wellness center, state-of-the-art fitness center, golf simulator, cold plunge, sauna, resort-style pool, and a ground-floor work-from-home lounge.
“High-rise luxury rental apartment living is something new and different for Palm Beach Gardens,” said Ed Masi, President/CEO of Seawood Builders. “Arbor House will meet the high demand for new Class-A multifamily residential during a time where there is clearly a shortage. Its prime location is convenient to popular retail outlets, including Trader Joe’s and Whole Foods, and will be a magnet for young professionals and their families.”
“Arbor House is part of a broader master plan that includes replacing outdated developments with new, modern uses,” added Bill Spruce, Cofounder/Managing Partner of Aventine Development. “Palm Beach Gardens is becoming a luxury market for living. By transforming an aging office park into a vibrant luxury living environment, we are part of the movement that already includes The Ritz-Carlton Residences, Palm Beach Gardens, opening later this year.”
“Arbor House is an important project for the City of Palm Beach Gardens,” stated Mayor Marcie Tinsley. “There is a strong, cooperative spirit between the City and our development partners to address the need for high-quality developments while also helping to spur interest in a rail station within PGA Station, a mixed-use development within our Transit-Oriented District that will serve our community.”
“Today’s celebration includes a ceremonial tree planting—a lasting symbol of Arbor House and the natural spirit of Palm Beach Gardens,” explained Alexandra Masi, Director of Marketing and Communications, Seawood Builders. “It will be preserved and placed on-site as construction progresses.”
Phase II of Arbor House will include a second 13-story tower and attached garage offering 318 apartments for a total of 620 units when both projects are completed.