Los Angeles, Calif. – PCCP has provided an $84 million senior loan to Pacific Development Partners for the refinance of Montreux, a 335-unit, Class A multifamily community located at 5550 E. Deer Valley Drive in Phoenix, AZ (North Phoenix submarket). The three-building property was delivered in 2019 and is approximately 89% leased. The financing was marketed by James Bach of CBRE.

Los Angeles, Calif. – A joint venture of PCCP, Trinitas Ventures, and Peninsula Investments has announced the ground-up development of Avanza at Hyde Park, a 237-unit, Build-for-Rent (BFR) community located at 136th Street and Brooks School Road in Noblesville, IN. Situated in a high barrier-to-entry, affluent Indianapolis suburb, the project is now under construction with completion anticipated in Fall 2027.

This email address is being protected from spambots. You need JavaScript enabled to view it., Jerad Roberts, and This email address is being protected from spambots. You need JavaScript enabled to view it. of Northcap Commercial are pleased to announce the strategic acquisition of Morrell Park Apartments for $24,000,000 ($150,000/unit). This distinguished 160-unit community, built in 1981 and located at 525 Harris Street in Henderson, Nevada, represents a rare off-market opportunity in the Las Vegas Valley.

Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, announces the disposition of Kensington Crossings, a 254-unit apartment community and Morgan Bay, a 268-unit apartment community located in Houston, Texas.

Company bolsters established footprint in Mid-Atlantic region with addition of Axiom Cabin Branch near Washington, D.C.

StoneBridge Investments, a Washington, D.C.–based multifamily real estate investment company, has acquired Luxe at 1820, a 300-unit, garden-style apartment community in Tampa, Florida. 

Luxe at 1820 is located at 1820 Crosstown Club Place in the Tampa suburb of Brandon, FL, eight miles east of downtown Tampa.  It’s prime location in the MSA provides a compelling opportunity to acquire a well-built property in one of the country's most dynamic and fastest-growing metropolitan regions. The property offers direct access to the major employment corridors, strong retail centers, high performing schools, and a growing transportation network that supports Tampa’s economic ascent. 

“We are extremely bullish on Tampa and the broader Florida growth story,” said Kees Bruggen, Managing Director of StoneBridge Investments. “This region has repeatedly demonstrated its resilience and economic competitiveness, and we believe Tampa is positioned to outperform over the coming period, especially as the supply pipeline moderates and demand remains stable. Luxe at 1820 aligns perfectly with our strategy of acquiring high-quality assets in markets with durable long-term fundamentals and strong projected household formation.” 

Built in 2009 to a high standard and offering an attractive mix of unit types and amenities, Luxe at 1820 provides a strong foundation for value creation through capital improvements. StoneBridge plans to implement a comprehensive renovation program over time. 

“Luxe at 1820 is a great example of what we are looking for—a well-located, high-quality asset that is poised for targeted reinvestment,” added Will Bateman, Director at StoneBridge Investments. “Tampa continues to see strong momentum, and by modernizing the unit interiors, refreshing the amenities, and enhancing the curb appeal, we believe we can further elevate its standing in the submarket. Residents will benefit from a more contemporary living experience, and the community will continue to be well positioned for long-term success.” 

The acquisition of Luxe at 1820 strengthens StoneBridge’s presence in Florida, one of the firm's primary target markets. The company continues to pursue both value-add and core-plus acquisitions in high-growth metros across the Mid-Atlantic and Southeast backed by strong demographics, pro-business environments, and expanding employment sectors. 

Brian Moulder and Chris Chadbourne of Walker & Dunlop represented the seller, American Landmark. Financing was secured by Connor Locke, Brenden Coleman, and Skye Stansbury of Walker & Dunlop. 

The closing represents the fifth acquisition in Monument Opportunity Fund V

The Mogharebi Group (TMG) has advised a private seller in the sale of two Central California multifamily properties totaling 293 units for a total consideration of $61.75 million. The assets — The Grove in Bakersfield and Cottonwood Grove in Clovis — each generating multiple offers, were sold to separate California-based private investors.  

Newbrook Capital Properties, a private multifamily investment firm, has acquired a 1990s vintage two-property portfolio totaling 340 units in the Norfolk, VA metropolitan area for $58.2 million. The acquisition includes Green Tree, a 208-unit garden-style community located at 749 Green Tree Circle  in Chesapeake, VA, and Emerald Lake, a 132-unit garden-style property situated approximately 40 minutes south at 1500 Emerald Lake Circle in Elizabeth City, NC.   

The portfolio was 98% occupied at closing, reflecting strong leasing fundamentals. Building on the positive performance, Newbrook has identified a compelling value-add opportunity to renovate approximately 70% of the unit interiors, which largely feature original finishes. StoneCreek has been engaged to provide professional property management services to enhance operations, elevate the resident experience, and drive long-term efficiencies for Newbrook. 

The Norfolk Metropolitan Area benefits from a constrained housing supply, supported by a resilient and diversified economic base.  The market is underpinned by strategic sectors such as defense, logistics, healthcare, and government.  A key catalyst for regional growth is The Port of Virginia—ranked as the third largest and among the most advanced ports on the U.S. East Coast.  Supporting over 400,000 jobs, the port drives substantial economic activity and fuels consistent demand for workforce housing, particularly in high-growth submarkets like Norfolk and Chesapeake. 

Newbrook Capital Properties was co-founded in late 2023 by hedge fund manager Robert Boucai and James Broyer, former president of multifamily investments at JRK Property Holdings. Since inception, the firm has acquired a geographically diversified portfolio totaling approximately $400 million in assets under management, encompassing more than 2,000 units across five states: Colorado, North Carolina, Ohio, Missouri, and Virginia. 

“Our strategy is built around identifying mispriced, high-quality assets in primary and secondary markets with durable multifamily fundamentals, limited supply, elevated occupancies, and rental upside,” said Broyer. “This approach allows us to acquire properties at an attractive cost basis with long-term fixed-rate financing and hold them for longer durations, while generating stable income growth and consistent, outsized cash yields for our investors.” 

The firm’s differentiated approach is designed to appeal to family offices seeking tax-efficient multifamily investments. Newbrook’s investments have ranged from $20 million to $95 million, providing flexibility and access to markets often overlooked by larger institutional players, according to Broyer. 

“We remain flexible in our deal structuring, managing acquisitions on a deal-by-deal basis while exploring fund and joint venture models for future growth,” he said. 
 
The acquisition was leveraged with assumable below-market Fannie Mae financing with eight years of term remaining and over 150 basis points of immediate positive leverage relative to the in-place cap rates. 

The seller was represented by Hunter Bowling and Paul Marley of Cushman & Wakefield on the sale of Emerald Lake, and by Drew White and Carter Wood of Berkadia on the sale of Green Tree.