DALLAS, TX – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the opening of a 324-unit, mixed-income housing community in Dallas, Texas. Ascent at Mountain Creek is just 15 minutes outside of downtown Dallas, with 50% of the units reserved for individuals and families earning 80% or less than the Area Median Income (AMI).
Located at the intersection of Highway 408 and I-20, Ascent at Mountain Creek offers scenic views of rolling hills and considerable green space and is less than 10 miles from Mountain Creek Lake. The community is also in close proximity to the 450-acre Mountain Creek Business Park, home to companies such as Nestlé, Ulta Beauty and Chewy. Everyday conveniences such as Target, Home Depot and the Methodist Charlton Medical Center are just a 10-minute drive away, along with recreational venues such as Epic Waters Waterpark and Grand Oaks Golf Club. Residents will also have access to ample retail and dining options, as well as major employment hubs in downtown Dallas.
As Dallas-Fort Worth s affordability crisis deepens, Ascent at Mountain Creek provides much-needed housing at a mix of income levels for essential workers, from teachers and nurses, to first responders and public transit operators, said Alena Savera, Vice President of Development at The NRP Group. We re grateful for the partnership and collaboration of the city, which has allowed us to deliver a community that meets the diverse needs of Dallas renters and enhances resident quality of life.
The newly delivered community at 4868 S. Merrifield Road comprises 14 three-tale, wood-frame buildings offering a mix of one-, two- and three-bedroom apartments. To meet resident demand for larger units that accommodate work-from-home preferences, den floor plans for one- and two-bedroom units are also available. In-unit features include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Residents can delight in a variety of community amenities, including a resort-style pool, dog park, state-of-the-art fitness center with a spin room and clubhouse lounge.
There is a pressing need for mixed-income housing in the metroplex, where rising costs are making it harder for residents to find affordable homes, said Keith Pomykal, District 14 Dallas PFC Board Member. Working with The NRP Group has allowed us to deliver the quality and attainable housing our community needs.
The Dallas metro area remains a priority market for The NRP Group. The firm has developed over 6,700 units across 30 properties in the region, and recently broke ground on new affordable housing developments Thrive on Crawford in Fort Worth and The Fielder in Mesquite.

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CHARLOTTE, NC – Ginkgo Residential bought The Preserve at Pine Valley, a 219-unit garden-style apartment community in Wilmington, NC, for $32.1 million in an all-cash transaction. Built in 1974, the property aligns with Ginkgo s value-add strategy, which focuses on the preservation of workforce housing through curb appeal, replacement of aged infrastructure elements, amenity enhancements, and interior renovations. The acquisition was completed in a joint venture between Ginkgo REIT Inc. and J.P. Morgan Real Estate Income Trust.
We remain actively engaged in identifying value-enhancing opportunities for shareholders and anticipate an accelerated acquisition pace this year, with a looming wave of multifamily loan maturities in 2025, said Bill Green, Co-CEO and Principal of Ginkgo Residential.
Located in the heart of Wilmington, the property benefits from strong demographic tailwinds. The city was the 6th fastest-growing MSA in the U.S. from 2020 to 2023, adding roughly 38 new residents per day. Over the next five years, Wilmington is projected to grow by another 10,000 residents annually. Employment has also surged 13.6% over the past five years, more than double the 5.2% national average.
This acquisition is a prime example of our strategy in action—identifying well-located, underperforming assets where we can make meaningful value for both residents and investors, said Kiel Bollero, Director of Acquisitions at Ginkgo Residential.
The property will be owned within Ginkgo REIT Inc., which has delivered an 11.8% annualized total return since its inception in July 2019. The REIT aims to provide investors with stable, tax-efficient income and long-term capital appreciation.

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CONSHOHOCKEN, PA – Morgan Properties, the nation s largest private owner of multifamily communities, has bought a portfolio of 3,054 units across 11 assets in eight Midwest states from Trilogy Real Estate Group. This acquisition, valued at $501 million, marks a significant milestone in the firm s 40-year history as it expands Morgan Properties apartment holdings to over 100,000 units nationwide while continuing to broaden its presence throughout the Midwest.
Surpassing 100,000 units is a defining moment and a testament to the hard work and dedication of our entire organization, who have helped shape Morgan Properties into a best-in-class multifamily owner and operator, said Jonathan Morgan and Jason Morgan, Co-Presidents of Morgan Properties. As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment. Morgan Properties has a proven track record of acquiring large portfolios with significant barriers to entry and providing execution certainty.
The communities, located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, and Tennessee, range in age from 1989 to 2018 and are exceptionally well-located within their respective submarkets.
Morgan Properties has outlined a comprehensive value-add strategy aimed at increasing the marketability and comfort of these properties through physical and operational improvements. Enhancements will include programmatic interior upgrades consisting of new flooring, appliances, cabinets, and countertops, as well as smart home features and an expansion and refresh of on-site amenities.
Morgan Properties now owns and operates over 360 communities in 22 states throughout the country. Through a series of key portfolio acquisitions, the largest of which was a $2.6 billion buy of 98 communities, the firm’s apartment holdings have more than doubled in the past 6 years under the leadership of Jonathan and Jason Morgan.

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