NEW YORK, NY – J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) announced the acquisition of two residential assets: The Preserve at Pine Valley in Wilmington, NC and Bass Lofts in Atlanta, GA. These strategic acquisitions underscore JPMREIT’s commitment to expanding its portfolio of high-quality, attainable housing assets in high-growth markets.
The Preserve at Pine Valley, a 219-unit, Class-B housing community, was bought in a 90/10 joint venture partnership with Ginkgo Residential, a Charlotte-based owner and operator focused on workforce housing. Situated in central Wilmington, the property offers residents convenient access to Downtown Wilmington, Wrightsville Beach, and the Novant Regional Medical Center. The property is ideally positioned to benefit from Wilmington’s robust economic and demographic growth, which, to date, has resulted in a 70% cumulative increase in population since 2000. The total buy price was $32.1 million, exclusive of closing costs.
Bass Lofts is a 133-unit, adaptive reuse, Class-A multifamily property located in the intown neighborhood of Small Five Points in Atlanta, GA. This unique asset offers a prime location with simple access to Downtown Atlanta, Midtown, and Buckhead, as well as major highways. Originally constructed in 1923 as a school, Bass Lofts is currently 96% leased, reflecting strong demand for quality housing in the area. The total buy price was $34.8 million, exclusive of closing costs.
The residential sector is one of J.P. Morgan Asset Management’s high-conviction investing themes, driven by the resilience of and strong demand for housing. The 2021 pricing bubble motivated developers to introduce new supply, which softened rents despite growing wages and strong apartment absorption. Wilmington and Atlanta are examples of markets where new supply has peaked, and rents are now firming. These JPMREIT acquisitions will benefit from a recovery in rental rates across their submarkets.
“These acquisitions underscore our confidence in the residential sector and our belief in the continued growth and resilience of the housing market. As we navigate an environment where homeownership remains significantly more costly than renting, we see a sustained demand for rental properties,” Chad Tredway, CEO and Chairperson of JPMREIT.
Doug Schwartz, Co-President of JPMREIT, added, “The Sunbelt region is experiencing declining supply amidst continued population and wage growth, making it a focal point for our investment strategy. At JPMREIT, we are committed to leveraging these trends by tactically investing in assets where we can make value and in locations where economic and population growth are making opportunities.”

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NEW YORK, NY – Hamilton Lane (Nasdaq: HLNE), a leading global private markets investment management firm, announced an investment in a portfolio of four multifamily assets in lower Manhattan. Funds managed by Hamilton Lane have bought an 85% interest in the assets of a family office seller. The portfolio comprises 126 multifamily units and 11,050 square feet of prime ground-floor retail space in the highly desired New York City neighborhoods of the West Village and SoHo.
Dalan Real Estate is a vertically integrated real estate firm specializing in New York City multifamily properties. Dalan will retain its 15% interest in the portfolio and will continue to operate the buildings. Hamilton Lane’s partnership with Dalan leverages the firm’s deep familiarity with the assets and expertise in the real estate space.
“We are excited to partner with Dalan, who has deep knowledge of and familiarity with these strategically located multifamily assets, on this transaction. We had high conviction around the acquisition of these assets, which have resilient tenant demand in a desirable location,” said Elizabeth Bell, Co-head of Real Estate at Hamilton Lane.
“Following a decline in U.S. real estate values of about 20% over the past two years, we believe this is an opportunistic time to invest in high-quality assets in prime locations at attractive entry values. Given the scale of the Hamilton Lane platform and our reputation as a supportive capital partner, we have generated significant deal flow and have the flexibility to invest in real estate through various channels, including primary funds, co-investments, secondaries and joint ventures. We remain keen to continue partnering with experts like Dalan in sectors and locations where we have strong conviction,” she added.
“We are very excited to be partnering with Hamilton Lane on this transaction. We have a high level of conviction and ten years of direct knowledge operating these assets which will position our partnership for immediate success. There continues to be fantastic demand for people to live in these neighborhoods and we don’t expect that to change any time soon,” said Daniel Wrublin, CEO of Dalan Real Estate.

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IRVINE, CA – Bascom Value Added Apartment Investors VI, LLC, which is sponsored by The Bascom Group, launched a new offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933, as amended. Fund VI is focused on continuing to buy apartment properties throughout the U.S. that can be repositioned through value-add renovations, management improvements, recovery from being over leveraged and distressed, or may be trading at a significant discount.
The Fund has been actively raising capital and acquiring property assets. The Fund currently owns five apartment properties with approximately $68 million of equity invested. The Fund is seeking to raise an additional approximately $76 million in equity this offering. Since 1996, Bascom has completed over $22.0 billion in multifamily value-added transactions encompassing 365 multifamily properties and over 105,000 units.
David Kim, Managing Partner, states, “We note that certain leading real estate research firms report that apartment prices have dropped 20%–30% from their 2022 peak due to capital market dislocations, rising interest rates, and oversupply in certain markets. We believe this has made opportunities to buy properties at a discount to peak pricing. In addition, we believe rising mortgage rates and a persistent housing shortage have made homeownership less affordable, resulting in strong demand for rentals. We expect national new housing supply to decline after 2024 and we project rents to increase steadily, which would enable investors to capitalize on inefficiencies and distressed assets in select markets.”
According to the Fund VI Manager, Chad Sanderson, “The Fund sees several potentially attractive investment themes: newer constructed properties trading at discounts to replacement cost, over-leveraged properties that have performed poorly and facing loan maturities, out of favor properties/markets with attractive going in cap rates, properties that have not had the capital invested to compete with newer properties, and areas of distress emerging for certain markets and properties due to oversupply.”
Joe Ferguson, Acquisitions Manager, adds, “The previously bought properties in Fund VI were either bought off-market or through a compromised marketing process. Currently, we believe capital market interest and apartment fundamentals vary from market to market and between product types. We believe these variances are making a buying opportunity for inefficiently priced assets.”

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