PHOENIX, AZ – Goodman Real Estate announces its latest milestone, the $131.1 million acquisition of Town Deer Valley Apartments, a premier 388-unit Class A property located in Phoenix, Arizona.
This latest acquisition reflects Goodman Real Estate’s continued efforts to expand its portfolio with premium residential properties in high-growth markets. Town Deer Valley Apartments, known for its modern amenities and prime location, is a testament to the company’s focus on making well-built, sustainable, and thriving communities that elevate the resident experience.
“Town Deer Valley Apartments aligns with our purpose of building and investing in purposeful communities,” said John Goodman, Founder of Goodman Real Estate. “The property offers not only gorgeous living spaces but also a strong foundation for enhancing the lives of our residents. We are excited to play an integral role in contributing to the ongoing growth and vibrancy of Phoenix.”
The sale was facilitated by Institutional Property Advisors (IPA) Phoenix, who served as the selling broker. Their expertise and industry insight were instrumental in achieving a seamless transaction. The deal was further supported by Walker & Dunlop, who provided financing solutions to bring the project to fruition. These partnerships underscore the collaborative efforts behind this significant milestone.
Located in a highly desirable area with convenient access to employment hubs, shopping, dining, and recreational options, Town Deer Valley offers residents a thoughtful balance of comfort and convenience. The property features luxurious amenities such as resort-style pools, state-of-the-art fitness facilities, and perfectly landscaped grounds. Each unit is designed with high-end finishes and spacious floor plans, catering to the needs of modern living.
Goodman Real Estate looks forward to integrating Town Deer Valley Apartments into its existing portfolio and leveraging its expertise to build stronger, healthier, and more connected communities.

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BAKERSFIELD, CA – CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, in partnership with Bettencourt Properties and The Beneficial Housing Foundation, announced the acquisition and plotted renovation of Sundance Apartments, an affordable housing complex in Bakersfield, Calif. This is the first community in Bakersfield for CPP.
Sundance Apartments is located at 6000 White Lane in the Spice Tract neighborhood of Bakersfield. The convenient location allows residents simple access to multiple bus stops, as well as a nearby grocery store, shopping center and restaurants. Originally built in 1981, the property has not received any substantial rehabilitations. The property is comprised of 10, two-tale buildings and an additional single-tale building which contains the community room, laundry room, and leasing office. Designed to accommodate families, Sundance Apartments offers 40 two-bedroom and 20 three-bedroom units. CPP s total development investment is approximately $32.5M, which includes the buy price of $20M and estimated renovation costs of approximately $80,000 per unit.
Bakersfield, like many cities in California, is experiencing an affordable housing crisis. In fact, studies indicate that nearly one-third of Bakersfield residents are spending more than 30% of their income on housing, said Belinda Lee, Director of Development at CPP. The preservation of Sundance Apartments 60 affordable units will play a part in helping to ensure that the Bakersfield affordable housing supply is maintained for years to come.
Sundance Apartments will receive significant renovations aimed at improving the property s energy efficiency and modernization. Specific improvements include the replacement of solar and electrical panels, HVAC units, water heaters and appliances. Additional interior upgrades include the modernization of bath and kitchen surrounds and fixtures, and replacement of unit flooring. Exterior improvements include roofing replacement, repairs to the property s asphalt, pavement and paths of travel, as well as upgraded landscaping. CPP also plans to upgrade the property s community room.
By preserving 60 affordable units and investing in significant upgrades, we aim to ensure that these homes remain safe, energy-efficient, and sustainable for years to come. Our partnership with Bettencourt Properties and The Beneficial Housing Foundation underscores our shared commitment to providing quality, affordable housing to the communities that need it most, said Alexis Castillo, Assistant Development Manager at CPP.
CPP is partnering with LifeSTEPS to provide on-site adult education, health and wellness, and skill-building classes and services to residents.
Renovations are expected to be complete by the end of 2025. The property s affordability was set to expire in 2027, but with CPP s involvement, the Section-8 Housing Help Payment (HAP) contract will be renewed for 20 years. Additionally, the property will encumber a new Land Use Restrictive Agreement (LURA) to ensure affordability for 55 years. All units will be income restricted to family households at 60% or below Area Median Income (AMI).
Additional partners on the project include the California Tax Credit Allocation Committee (CTCAC), who issued and allocated 9% LIHTC. WNC & Associates serves as the equity partner. Banner Bank is providing construction financing, while Key Bank serves as the permanent lender, using a Freddie Mac product.

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DALLAS, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the SKYE of Turtle Creek apartment community in Dallas, Texas. This successful acquisition represents the sixth investment in Knightvest’s Fund II.
Built in 1998, the 331-unit high-rise is located in the prolific submarket of Uptown Dallas, an area where Knightvest has direct experience. Knightvest will leverage its construction, management, and operational experience to seamlessly integrate the community into its portfolio. With the property largely in its original condition, Knightvest plans to renovate a considerable part of the units and make significant updates to the exterior and common areas. These improvements will position Skye to compete with new luxury developments in the area while maintaining a compelling price advantage. As part of the renovation efforts, Knightvest has renamed the community to Remi.
“Given our knowledge and success in the submarket, we have a clear path to enhanced performance and revenue, leading to significant value creation potential with the acquisition of Skye,” said David Moore, Knightvest founder and CEO. “With a buy price significantly below replacement cost, this acquisition perfectly aligns with our strategy, and we’re excited about our momentum in Fund II.”
With direct access to the Katy Trail, a walkable neighborhood boasting over 200 restaurants, and close proximity to vibrant areas like Victory Park, Downtown Dallas, and the Harwood District, the apartment community offers the best of urban living. Following Knightvest’s plotted renovations, the modernized interiors and enhanced common areas will position the community as a top-tier living destination in the area.

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