REDMOND, WA – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, in joint venture with QuadReal Property Group, announced key milestones at two luxury communities in the Marymoor submarket of Redmond.
Spectra, a luxury mixed-use community at 17620 Northeast 69th Court, the first apartment community to open in the core of the emerging Marymoor Village, opened its third and final phase with delivery of the 187-home West Building.
Less than a mile away, The Piper, a 284-home luxury community directly fronting renowned Marymoor Park at 17305 NE 67th Court, reached the topping out point in its continued construction. The community is due to complete in H1 2024, with first residents welcomed shortly afterwards.
“Quarterra and QuadReal are excited to lead delivery of high-quality housing for people looking to relocate to the burgeoning Marymoor Village,” said Brad Reisinger, Regional President for Quarterra. “Between Spectra and The Piper, we are introducing more than 730 apartment homes to the neighborhood, including 74 affordable homes for low and moderate-income households. We are committed to creating a sense of place in Marymoor Village that integrates great housing with investment in public infrastructure, prioritizes local small business retail and showcases public art.”
Daniel Gliksman, Managing Director, Americas-East at QuadReal, added: “The multifamily sector has been, and remains one of our strongest convictions, underpinned by favorable demographic trends. We continue to look for opportunities to work alongside best-in-class developers and deliver high quality residential real estate in fast growing and desirable neighborhoods.”
Marymoor Village was rezoned in anticipation of a nearby Link Light Rail Station, which will provide unprecedented connectivity with the surrounding region. Spectra, comprising of 450 apartment homes and 37,259 square feet of retail space, offers the modern conveniences and amenities of living found in urban podiums with the openness and outdoor features provided in suburban garden communities. Onsite amenities include an outdoor pool, multiple playgrounds, fitness center, pea patches, dog run, several club rooms, a rooftop lounge, and an expansive co-working area.
The apartment homes include new concept designs while offering interior finishes that rival those in downtown towers. Additionally, residents and the public alike can enjoy an extensive public art offering including multiple murals, an interactive light sculpture and bespoke art balconies.
Located at the neighborhood’s front door and directly across the street from the under-construction light rail station, Spectra offers a curated retail mix that includes BrightHorizons daycare, Stone Korean Restaurant, Sasquatch Strength and Phenix Salon Suites, with two additional retail spaces available to lease. Spectra residents also enjoy direct pedestrian access to Whole Foods Market, as well as Downtown Redmond and the Redmond Town Center via the East Lake Sammamish Trail.
“Quarterra and our partners could not be more proud of how Spectra came together and its positive reception from our residents, the neighborhood, and the City of Redmond,” said Reisinger. “We wanted Spectra to play an integral role in Marymoor’s evolution, and we’re excited for the community and its residents to help shape and influence the direction of this incredible locale.”
The Piper, which directly fronts the 640-acre Marymoor Park and its sports facilities, trail system, dog park and concert venue, will similarly beckon residents to engage with their surroundings. The Piper’s amenities will virtually cascade into the park, with an emphasis on open-air experiences including an outdoor plaza and resort-style pool and spa overlooking the park.
The Piper’s 284-homes trend larger than those at Spectra and many are designed to cater towards those needing more space. The community is divided between two five-story mid-rise buildings separated by a pedestrian art walk, highlighted by murals, sculptures and other works from eleven different artists. The community will also house an artists in residence program in a dedicated space along the art walk.
Spectra is currently open and available to lease, while The Piper will complete construction next year and welcome its first residents in mid-2024.

FAIRFAX, VA – GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Arbors at Fair Lakes, a 282-unit, community located in Fairfax, VA, which will be rebranded as Windsor Fair Oaks.
The garden-style community has a rich assortment of lively amenities, such as a clubhouse, pool and sundeck, 24-hour fitness center, dog park, tennis court, two outdoor grilling stations, a complimentary shuttle to the Vienna Metro and a half-mile nature trail.
Conveniently located just outside of Washington, D.C., Windsor Fair Oaks provides easy access to major employers in Tyson’s Corner, Reston/Herndon, the Rosslyn-Ballston corridor, and National Landing/Pentagon City through major interstates I-395, I-95, and the Capital Beltway. With Whole Foods anchored directly across the street and four additional retail centers with 5.3MM sq ft within two miles of the community, residents are able to enjoy a wide variety of entertainment, dining, fitness, and shopping options.
This acquisition enhances GID’s portfolio within the bustling DMV submarket of Fair Lakes, a masterfully planned community with over 2.5MM+ sq ft of office/hotel space, 1MM+ sq ft of retail, and over 3,000 multifamily and condominium residences. According to Niche’s suburb rankings, Fair Lakes has an A+ rating and is ranked within the top 15% of suburbs in Virginia, helping to create a deeper sense of home for future residents.

PHOENIX, AZ – Locale, the upscale apartment-style hotel brand and management company, and The Dinerstein Companies (TDC), a national real estate and development company, announced the expansion of their partnership with the launch of Locale Midtown Phoenix, offering upscale furnished apartments for short and extended stays within the Aspire Park Central residential community.
Locale Midtown offers 27 upscale furnished apartments within walking distance of Creighton University and St Joseph’s Hospital and Medical Center and is now accepting reservations for guest stays. Blending the comfort of home and convenience of a hotel, Locale’s apartment-style accommodations feature fully-equipped kitchens, in-unit washer-dryers, self check-in, modern design, and premium amenities. The luxury property includes a resort-style pool and fitness center plus a Sky Deck with expansive views of Downtown Phoenix.
This launch comes on the heels of the partnership’s latest project in Nashville, Locale The Gulch, that converted the fifth floor of Aspire Gulch, Dinerstein’s luxury residential building into upscale apartment-style rentals.
Dinerstein and Locale first established a partnership in 2016 and have successfully launched furnished, apartment-style accommodations at eight properties, with more locations to come in 2024.
“Our goal is to always partner with best-in-class companies for all our assets. Since our initial rollout with Locale seven years ago, they have continued to show a similar mindset as us by approaching everything with the customer experience at the forefront within our buildings”, said Clay Hicks, Partner and President of TDC Management. “We continue to keep our pulse on the short-term rental business within the national markets we are in and believe Locale is the company best suited for us to meet our shared goals.”
Locale’s apartment-style accommodations respond to rapidly growing consumer demand for more space, privacy, and comfort while traveling, especially for work trips that stretch into leisure vacations. The furnished apartments perform well in newly constructed buildings as well as stabilized multifamily assets, boosting occupancy and delivering premiums to conventional rents.
“We’re excited to expand our exclusive short-term rental relationship with Dinerstein. The trust and respect we’ve built over the years has been enhanced by the superior returns we’ve generated for their assets and capital partners – it’s been a winning combination,” said Nitesh Gandhi, Founder and CEO of Locale. “We share a vision that high-quality furnished apartments enhance the value of multifamily assets and it’s our pleasure to work with Dinerstein’s exceptional team to bring these accommodations to life within their communities.”

DAVENPORT, FL – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced its second Ltd. branded apartment community, Ltd. Champions Ridge, in Davenport, Florida, is now welcoming move-ins. The Ltd. brand exclusively focuses on Greystar’s essential housing product, delivering more attainable housing opportunities for key populations affected by the lack of rental options in the Orlando metro area and across the country as more Ltd. communities come online.
“Ltd. Champions Ridge addresses the incredible need for attainable housing both in the Orlando area and throughout the United States,” Parker LeCorgne, Director of Development at Greystar, said. “We are excited to bring the Ltd. brand and the new rental experience here to Davenport by providing much-needed housing supply that offers an attainable, high-quality experience for renters. We are proud to be able to do this for the benefit of our community, including essential workers such as teachers, nurses, and first responders. So far, the response has been tremendous. Ltd. Champions Ridge was 60 percent pre-leased before final walkthroughs and all available apartments have been rented.”
The apartment community has one-, two- and three-bedroom floorplans that range from 798 sq. ft. to 1,245 sq. ft. While the rents will be lower than typical multifamily housing in the area as a result of efficiencies in construction, technology, and the operating model, Ltd. Champions Ridge boasts similar quality construction, amenities, and experience of a traditional Greystar community.
Ltd. Champions Ridge, like all Ltd.-branded communities, will have standard amenities appropriate for their location, including community pools and gyms, among other options. Additionally, cutting-edge technology packages in multi-family will be included in each Ltd. community and apartment, with property-wide high-speed internet, smart locks, and resident apps that streamline everything from maintenance requests to guest access. This package of amenities and innovative technology helps to set Ltd. communities apart from most of the existing attainable supply in the United States.
“Our Ltd. brand is Greystar’s solution to the lack of housing supply for the middle of the market,” said Scott Berka, Senior Managing Director, Brand and Customer Experience at Greystar. “Champions Ridge is just the latest example of our commitment to delivering rental housing that combines the opportunity to live in a professionally managed Greystar community with the promise of limited future rent increases while living in an Ltd.-branded property.”

NORTH SAINT PAUL, MN – Tareen Development Partners announced the groundbreaking of the highly anticipated Article No. 7 project, an 82-unit apartment complex located on the corner of 7th Ave., East and Helen Street in North Saint Paul, Minnesota. The groundbreaking ceremony marked a significant milestone for the development and the community.
Article No. 7 aims to revitalize the North Saint Paul neighborhood by providing modern, high-quality housing options for residents. With its prime location and thoughtful design, the complex will offer a comfortable and convenient living experience for individuals and families alike. The name Article No. 7 is a nod to the original newspaper building (The Lillie Suburban Newspaper) and the No. 7 signifies an abbreviation for North and 7th Ave where the building is located.
“We are excited to break ground on the Article No. 7 project and contribute to the growth and enhancement of the North Saint Paul community,” said Basir Tareen, Founder of Tareen Development Partners. The 82-unit apartment complex will feature a mix of one and two bedroom units. Each apartment will be thoughtfully designed with modern finishes, spacious layouts, and an array of amenities to ensure a comfortable and enjoyable living experience. Residents will have access to on-site (below ground) parking, a fitness center, community spaces, and more.
TDP is proud to collaborate with Bauer Construction and Momentum Design, Sail Management and the City of North St Paul on this project. The building is expected to be completed in Fall of 2024.

CHARLOTTE, NC – The Milestone Group announced its acquisition of The Weathersby Apartments, a 180-unit, fully renovated, market-rate multifamily community at 8415 University Station Circle in Charlotte, NC. The purchase price was not disclosed.
The Weathersby features modern two-, three- and four-bedroom apartments strategically located between two major job centers in North Charlotte. The community is located right off W.T. Harris Blvd and proximate to Uptown Charlotte, University City, and Northlake, with easy access to numerous shopping, restaurants, and other service retail.
Community amenities include a swimming pool with a bi-level sundeck, a clubhouse, a 24-hour fitness center, a dog park, an outdoor kitchen, and picnic spaces. The modern, fully renovated and updated residences include quartz countertops, white cabinets, tile backsplashes, stainless steel appliances, faux-wood plank flooring throughout, custom closets, and washers and dryers in every unit.
“We are excited to add this fully-renovated community to our portfolio,” said Milestone Vice President of Acquisitions, Jason Wise. “Our team was able to efficiently source and execute this direct off-market acquisition and assume the existing financing, benefitting both Milestone and the seller by avoiding the loan prepayment penalty.”
The Milestone Group is a leading, privately held real estate investment management firm with strong expertise and focus on value-add multifamily assets in major metropolitan markets of the United States. Founded in 2003, Milestone has created trust and confidence with its investors through successfully navigating multiple economic cycles across over $9 billion of multifamily investments totaling more than 90,000 units.

WALTHAM, MA – Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced that it has closed on its construction loan to commence building its latest Alexan community, a 210-unit, luxury multifamily residence in Waltham, Massachusetts.
Alexan Waltham will be located at 73 Pond Street in downtown Waltham and will feature five stories of Class A residential apartments over one level of at-grade podium parking. Construction has commenced, and completion is anticipated for Summer 2025. Alexan Waltham will offer both market-rate and affordable units in studio, one-bedroom, two-bedroom, and three-bedroom layouts ranging from 650 to 1,400 square feet.
With its ideal location just two blocks north of the Main Street / Moody Street intersection, residents of Alexan Waltham will be immersed in Waltham s lively social scene highlighted by the 40+ restaurants along Moody Street. Residents will also have convenient access to Boston s premier employment corridors stemming from the short walk to the MBTA s Waltham Station, which provides access to Cambridge s Porter Square Station and Downtown Boston s North Station, and the 5-minute drive west to Route 128, which is home to Greater Boston s largest suburban office cluster. Additionally, the site is directly bordered by the Waltham portion of the Massachusetts Central Rail Trail, a 104-mile off-road, shared-use trail offering recreational activities and alternative access routes into Cambridge and Boston.
This project is another example of TCR s strategy to invest in high-growth areas across the U.S., said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We continue to be active in the Greater Boston area and look forward to working with our partners and the City of Waltham to provide much needed and desirable housing to the area.
With this newest Alexan offering, TCR currently has more than 29,000 apartment units in various stages of development in 20 markets across the country.

SAN JOSE, CA – Urban Catalyst, a real estate fund manager and developer based in San Jose, California, has launched a new fund, UC Multifamily Equity I LLC (UCME). UCME focuses on the development of a 272-unit luxury apartment building named Aquino. Located within walking distance of Downtown San Jose s western edge, Aquino is next to the site of Google s planned Downtown West campus and within walking distance of the SAP Center and Diridon Station, one of the West Coast s busiest transit hubs. The project is fully entitled and approved for multifamily construction.
Aquino will consist of studio, one-, two-, and three-bedroom units with stainless steel appliances, quartz countertops, electric ranges, and air conditioning. Residents will have access to private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run, and a courtyard with an outdoor kitchen.
Historically, multifamily demand has vastly exceeded supply in the San Jose metropolitan area, putting upward pressure on rents and keeping the occupancy rate high. Due to the highly restrictive development policies throughout California, the San Jose metro s 2023 multifamily construction pipeline — the number of units slated for completion by the end of this year — is smaller than 18 major U.S. metros, according to CBRE data.
The San Jose metro s average multifamily occupancy rate was 95.7% at the end of Q1 2023, higher than the national average of 94.5%, CBRE data show. Multifamily rents in the Bay Area s South Bay subregion, which includes the San Jose metro, are projected to increase 47% in the next decade, according to Yardi Matrix data. The South Bay s projected rent growth exceeds that of Austin, Nashville, Phoenix, and several other major U.S. multifamily submarkets, Yardi Matrix data show.

HOUSTON, TX – Venterra Realty acquired the Avasa Spring Branch community located in Houston, Texas. The 361-unit, three-story multi-family community was built in 2023 and offers modern one, two, and three-bedroom mid-rise residences that range from 613-1475 square feet in 21 unique floor plans. The apartments feature granite countertops, stainless steel appliances, larger soaking tubs, and ample closet space along with an excellent amenity package.
Residents can enjoy Avasa’s best-in-class amenity package, spending time in either of the two well-appointed pool areas with grilling areas and social spaces. Additional on-site amenities include a state-of-the-art fitness center, connected yoga/spin studio, clubhouse, and more.
Located on Brittmoore Rd., near the intersection of I-10, the property offers easy access to prominent employment hubs including Memorial City, City Center, Westchase, and the Energy Corridor, and all the shopping, dining, and activities in the area.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.TM, the 48-Hour Maintenance Guarantee, and SMARTLEASING.
“We have seen excellent growth in the Houston area and are excited to expand our Texas portfolio with the addition of Avasa Spring Branch,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further enhance the standard of living at Avasa Spring Branch by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

MIAMI, FL – GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Altís Ludlam Trail from The Altman Companies, a 312-unit, wrapped-style community located in Miami that will be rebranded as Windsor Ludlam Trail.
The community features a roof-top heated swimming pool with a sun deck and poolside cabanas, a fitness center with cardio and yoga rooms, a game lounge, movie theatre, business center, and flex work-from-home spaces.
Located in the West Miami submarket of Florida, with proximity to major thoroughfares Highway 826, 836, and US Route 1, the community is uniquely positioned adjacent to the Ludlam Trail, a 6.2-mile linear greenway connecting a vast network of 30,000 residents, five schools, six parks, and nearly 50 acres of green space. The Ludlam Trail also serves as a major alternative transportation option for non-vehicular travel to the Blue Lagoon and Dadeland office markets.
“The Altman Companies are proud to have developed Altís Ludlam Trail into a premier residential community with a strong emphasis on sustainability and an exceptional living experience,” said Seth Wise, CEO of The Altman Companies. “As we transition ownership to GID, we have full confidence that they will uphold the same standards of excellence and further enhance the community for its residents.”
“This strategic move reflects our unwavering commitment to expanding our portfolio and offering exceptional living experiences to our residents,” said Greg Bates, President and CEO of GID. “With the acquisition of Altís Ludlam Trail, we are poised to set new standards for resident satisfaction, create a positive impact, and solidify our position as a leader in the real estate industry. We look forward to greeting our residents and building lasting partnerships with the local community.”