SEATTLE, WA – Bellwether Housing and the Evergreen Impact Housing Fund (EIHF) announced the opening of The Aries at Bitter Lake, bringing 200 affordable apartments to the North Seattle community.
The Aries is the first project funded by EIHF to open to residents, proving that innovative financing can boost the supply of much-needed housing. EIHF provided patient and low-cost catalytic capital for The Aries which, paired with more traditional financing sources, allowed the project to go forward on time and efficiently.
“We are delighted to see The Aries open to working families,” said Kris Hermanns, Fund Manager of EIHF for the Seattle Foundation. “This project is a testament to the power of collaboration in addressing our state’s affordable housing crisis. When public and private sectors work together, we can make positive, sustainable change in Washington State. It is an honor to celebrate this impactful addition to the community.”
“The investments in affordable housing made by this region’s business sector have been transformative,” said Susan Boyd, CEO of Bellwether Housing. “The Aries will be home to 200 families who previously had a tough time finding stable housing. They can now afford to live near transit, fantastic schools and close to job centers. These homes and the stability they represent simply would not exist without the investments made by the EIHF.”
Large-scale affordable housing projects with family-size units often face financing constraints, especially in urban centers. The Washington State Housing Finance Commission (WSHFC) provided an allocation of bond cap and low-income housing tax credits (LIHTC) for The Aries. This public funding and EIHF’s private capital worked together to go the project forward. ;”Our state needs affordable housing at all income levels,” said Steve Walker, WSHFC executive director. “EIHF provides an vital piece of the funding puzzle, filling critical gaps and stretching public funding to do more. Ultimately, that allows more working families to stay in Washington State and call this place home.”
Representatives from Bellwether, EIHF, and project supporters gathered for the grand opening of The Aries earlier today. The event featured remarks from Boyd Hermanns, Paul Buckland, Senior Vice President at Wells Fargo, and Selina Mendoza, Vice President at CitiBank. The morning culminated in a ribbon-cutting and guided tours of the building.
The Aries is located at 916 N 143rd St, situated near a community center, bike trails, the Bitter Lake Reservoir, as well as public transportation on Aurora Avenue. The Aries units cater to families of four earning up to $66,420 and individuals with an annual income of $46,500. Many of the apartment homes are two- and three-bedroom units that are well-suited for families.

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ALBUQUERQUE, NM – The Bascom Group has bought the Overlook Apartments, a 1988 built, 344-unit garden-style multifamily property located at 6200 Eubank Boulevard in Albuquerque, New Mexico. The property marks Bascom’s first multifamily acquisition in the state of New Mexico.
Brandon Harrington and Tyler Woodard of Northmarq arranged the debt financing for the acquisition with TPG Real Estate Finance Trust as the lender. The seller was represented by Northmarq’s investment sales team lead by Trevor Koskovich, Jesse Hudson, Cynthia Meister, Ryan Boyle, and Logan Baca. Apartment Management Consultants will provide property management services and SD-CAP will provide construction management.
The buy of Overlook comes on the heels of the recent Bascom buys including Avenida Lakewood, a 230-unit Active Adult (55+) apartment community in Lakewood, Colorado, and Texan26, a 204-bed student community in Austin, TX.
Vice President of Bascom, Tom Gilfillan, states “The Overlook adds another well-positioned asset to the Bascom portfolio, and the first in the state of New Mexico. The property is located within a desirable infill location with scarce new housing supply, and offers residents proximity to nearby employment centers, outstanding school choices, well loved retail amenities, and numerous recreation options. The Albuquerque market continues to demonstrate attractive multifamily fundamentals, and we are excited to strengthen our footprint in this growing market.”
Located within the desirable Northeast Heights submarket of Albuquerque, The Overlook offers residents a low -density garden style community with an attractive unit mix of one- and two-bedroom units. Community amenities include two large swimming pools and spas, dog park, resident clubhouse, business center, fitness center, and barbecue areas. The property provides residents admission to outstanding nearby public schools with average ratings of 9/10, proximity to premier retailers like Whole Foods, Trader Joes, and Target, as well as accessibility to major employment drivers including Netflix Studios, Intel Corporation, Sandia National Labs, and the University of New Mexico.
Bascom’s, Paul Zakhary, Senior Vice President of Portfolio Operations, added, “The Overlook has been well-maintained while demonstrating consistent rental demand. As part of our strategic renovation program, Bascom intends to renovate unit interiors with new appliances, countertops, backsplash, cabinetry, as well as enhancing the property’s exteriors and community amenities. Most of the units remain in classic condition, giving our team room to add desirable elements while providing residents an affordable housing option.”

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DALLAS, TX – Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of the Dorian Apartments, formerly known as the Tribeca Apartments. Situated in the coveted Legacy area of DFW, this 398-unit apartment community marks the latest strategic addition to the Knightvest portfolio.
The Dorian Apartment community was built in 2008 and features a mix of three and four-tale structures across nine buildings, with units boasting an average of 910 square feet.
“With its strategic location, the Dorian Apartments fit seamlessly into our vision of acquiring institutional quality assets and transforming them into design-driven residential communities,” said David Moore, Knightvest Founder and CEO. “Our team is excited by this latest acquisition as we work to provide a high-quality alternative to new construction in this sought-after market.”
The community’s corridor spans Plano, Frisco, McKinney, and Allen cities experiencing an average population growth of over 50% in recent years. With Plano’s growth accompanied by the development of over 14.8 million square feet of Class A office space, the area has become a thriving live-work-play community.
Knightvest Capital closed the acquisition in December 2023 and plans to enhance the property by renovating unit interiors and property amenities, including the fitness center, pool area, and clubhouse.
“Our acquisition of the Dorian Apartments is another fantastic example of how we’re executing our value-add strategy to deliver dependable results to investors, residents, and employees,” concluded David Moore.

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