Author: ipgocorp

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.

JERSEY CITY, NJ – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced that it has completed a $71 million acquisition, preservation and renovation project at Grandview Terrace Apartments, a 283-unit senior housing complex located in the Journal Square Neighborhood of Jersey City, New Jersey.
The upgrades to Grandview Terrace encompass a variety of holistic improvements including building modernization, energy efficiency upgrades, unit renovations and the addition of an enhanced, high-definition monitoring system providing site wide security coverage and ensuring adherence to HVPG’s community standards.
“We’re elated to unveil the revitalized Grandview Terrace, a collaborative effort with the Jersey City Housing Authority (JCHA) and HUD that will ensure long-term affordability for local seniors that were previously at-risk of losing access to this affordable housing and possibly being displaced,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “From the comprehensive modernization to the installation of advanced security measures, every aspect of this project reflects our commitment to creating secure, inviting places for our residents to call home.”
The renovations within the 283-unit complex totaled $15.2 million (~$53,500 per unit) and include new kitchen cabinetry and countertops; new high-efficiency, stainless steel appliances; high output lighting and water conserving fixtures; and the creation of fully compliant ADA and H/V units. Interior upgrades also included new flooring with subfloor repairs; wall patching and painting; and a new sky lounge for residents with a stretching room, community room, library and computer center with views of New York City.
The initial acquisition and substantial rehabilitation of the Grandview Terrace Apartments was financed with equity from HVPG’s second affordable housing fund (HVPF II) and a construction loan from Key Bank. Upon completion of the 16-month construction and preservation project in February 2024, the loan was refinanced under the HUD Section 223(f) program with KeyBank.
To ensure the long-term affordability of the property, HVPG secured a new, 20-year HUD Regulatory Agreement. Additionally, HVPG was able to unlock new rental subsidy for tenants as a result of the previously existing expired HUD 202 restrictions through both project-based and tenant-based Section 8 vouchers. The Jersey City Housing Authority played a critical role in this project and serves as the new contract administrator for all of the HUD Section 8 voucher units. HVPG and JCHA worked in partnership to secure new Section 8 subsidy for 267 low-income households that did not previously receive any rental assistance. This will ensure that income-qualified tenants are protected and will pay no more than 30% of their income in rent. No residents were displaced because of this transaction.
“The JCHA appreciates the opportunity to partner with Hudson Valley Property Group, HUD, the City and the County to preserve and provide quality, safe affordable housing to the senior citizens of Jersey City and Hudson County at Grandview Terrace”, said Patricia Ramirez, Director of the Housing Choice Voucher Program of the Jersey City Housing Authority.
The project follows Hudson Valley Property Group’s recent acquisition of a 1140-unit affordable housing portfolio across Maryland and North Carolina, and Northgate One Apartments in Camden, NJ. As the demand for affordable housing continues to rise, HVPG intends to further expand its portfolio and offer additional high-quality affordable housing options throughout the United States. HVPG currently owns over 10,650 units of affordable housing across 65 properties throughout the Northeast, Midwest, Mid-Atlantic and Southeast regions.

WASHINGTON, DC – TM Associates, United Planning Organization (UPO), and Gilbane Building Company were joined by the Department of Housing and Community development (DHCD), Department of Human Services (DHS), DC Housing Finance Agency (DCHFA), partners, and community members to announce the grand opening of MDXL Flats Apartments, a highly anticipated affordable residential community offering 101 affordable apartments in the heart of Washington, DC’s Buzzards Point neighborhood.
MDXL Flats Apartments joins sister community, MDL Flats, in setting a new standard for affordable luxury housing that blends seamlessly into the city’s sleek skyline adorned with glass-clad architecture.
From modern interiors, vibrant community space, and views overlooking Nationals Park and the Capitol Building, MDXL Flats Apartments caters to the distinct needs and preferences of its residents.
Key highlights of MDXL Flats Apartments include: Spacious and thoughtfully designed one-bedroom, two-bedroom, three-bedroom and even four-bedroom apartments, affordable to households earning between 30% and 50% of the average local median income. High-end finishes and panoramic views of the city. Convenient access to a wide array of dining, shopping, and entertainment options, including Audi Field, with ground-level retail. Dedicated resident services and on-site management and maintenance, ensuring residents receive prompt assistance and personalized attention. Access to quality schools, transit, and arts & culture in Ward 6.
“The delivery and grand opening of MDXL Flats completes TM’s $110m investment into the transformation of this corner in DC”, said Bob Margolis, Owner/Chief Executive Officer of TM Associates. “This milestone not only marks the completion of a remarkable project but also reflects TM’s steadfast dedication to enhancing vibrant communities. Through the introduction of high-quality, affordable rental homes, we are committed to driving lasting positive change.”
MDXL Flats, and its sister community, MDL Flats – who opened their doors in 2021, make up 177 affordable residential units, contributing to Mayor Bowser’s goal of creating 12,000 affordable homes by the end of 2025. More than 220 DC residents contributed to the construction of MDXL Flats. The project exceeded its goal of 35% certified business enterprises (CBE).
“We know that to achieve the Mayor’s bold housing goals, we have to be even bolder with our actions. MDXL Flats is an example of how we can use targeted investments and intentional planning to deliver affordable housing in more parts of our city. We thank all of the partners who made this project a reality for the residents who will call this building home,” said Deputy Mayor for Planning and Economic Development Nina Albert.”
UPO President and CEO Andrea Thomas said, “Housing is a persistent concern for DC residents, so UPO is proud to be a partner in providing housing stability to people with low incomes and supportive services to those who were unhoused. Most importantly, we are excited to hear the new residents declare, ‘I’m home.'”
“Gilbane Building Company is very proud of this project for not only the impact that more affordable housing options will have on the community but also the positive impact the project had throughout construction,” said Tyler Swartzwelder, business leader for Gilbane’s Washington, DC office. “Fifty percent of construction contracts, totaling more than $14 million, were awarded to diverse-owned and small businesses. Thanks to clients like TM Associates, who share our commitment to advancing diversity, equity, and inclusion, Gilbane is more than halfway towards our goal of generating $4 billion in awards to MWBE+ businesses by 2027.”

CHANDLER, AZ – Olympus Property announced the acquisition of Alta Chandler at the Park, a prominent residential community situated in Chandler, Arizona. As a premier community, Alta Chandler at the Park offers residents access to luxury living and unparalleled career opportunities. With 291 units, this four-story, mid-rise community represents a significant addition to Olympus Property’s portfolio, furthering the company’s mission to invest in top-tier properties in thriving markets.
Olympus Property currently oversees a portfolio of approximately 31,000 units across various markets. This acquisition further strengthens the company’s multifamily portfolio of approximately 5,500 Class A units in the Phoenix metropolitan statistical area (MSA) and aligns with Olympus Property’s commitment to providing residents with high-quality living experiences in attractive submarkets.
“Alta Chandler at the Park offers a generational opportunity to acquire high quality real estate in one of Arizona’s most dynamic submarkets. This addition underscores our commitment to investing in newly constructed high-quality assets located in submarkets with strong employment and economic tailwinds. We look forward to leveraging our experience and resources to enhance the resident experience and contribute to the continued growth of the Chandler community,” notes Wade Madden, Chief Executive Officer at Olympus Property.
Alta Chandler at the Park is situated adjacent to the area’s premier economic hub, the Price Corridor. In turn, the property benefits from its proximity to robust industries such as high-tech manufacturing, aerospace, information technology, finance, and advanced business services. With over 44,400 jobs and industry leaders like Wells Fargo, Bank of America, Dignity Health, and Northrop Grumman, the Price Corridor serves as the focal point for high-profile business operations in Chandler. Moreover, the property is strategically positioned to capitalize on Chandler’s ongoing economic growth, illustrated by significant investments from blue-chip companies like Intel. Intel’s recent $20 billion expansion of their Ocotillo campus, the largest private-sector investment in Arizona’s history, is expected to generate thousands of tech and construction jobs, solidifying the city’s status as a thriving economic hub.
Alta Chandler at the Park sets the standard for refined living with a range of top-tier amenities. From the convenience of the UrBo! Bodega Convenience market to the modern fitness center, speakeasy lounge, open concept club room, micro-offices, and rooftop lounge, the property caters to modern lifestyle needs. Additionally, the apartment interiors feature nine-foot ceilings, spacious kitchen islands, stainless steel appliances with gas cooktop ranges, and illuminated bathroom mirrors, ensuring a comfortable and stylish residential experience.