HORSESHOE BAY, TX – Falcon Senior Housing and SilverPoint Senior Living broke ground on The Statesman at Horseshoe Bay, a $108 million luxury senior living community located on Falcon Tract within the SilverRock community in Horseshoe Bay, Texas.
The ceremonial groundbreaking marks the official public introduction of The Statesman at Horseshoe Bay — the name under which the project will be marketed, sold, and operated.
The Statesman will offer independent living, helped living, and memory care on one of the most distinctive lakeside locations in the Texas Hill Country. Designed to reflect the natural elegance of the Highland Lakes corridor, the community is positioned as the premier luxury senior living anchor for the Horseshoe Bay, Marble Falls, and greater Hill Country market.
“Today, we break ground not just on a development, but on a community — The Statesman at Horseshoe Bay. We are answering the call Horseshoe Bay has questioned for: to give residents the ability to stay in their hometown and to provide an engaged community that matches the Hill Country elegance and luxury lifestyle they already know here, stated John Hyjer of Falcon Senior Housing.
Located on Falcon Tract within the SilverRock master community, The Statesman provides residents direct access to Horseshoe Bay’s world-class amenities, lakeside lifestyle, and the scenic character of the Highland Lakes corridor.

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ELK GROVE, CA – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced its acquisition of Mosa Apartment Homes, a 387-unit, newly-constructed affordable multifamily rental community located at 10149 Bruceville Road in Elk Grove, California.
Total project costs related to this transaction are approximately $83.6 million, inclusive of the assumption of permanent debt. The acquisition expands HVPG’s growing California portfolio, advancing its mission to secure long-term, high-quality affordability across high-cost West Coast housing markets.
Completed in 2025, Mosa is a 14-building, garden-style family community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement covering 100% of units, with HVPG acquiring the general partner interests in all three. Approximately 8% of units are further supported by tenant-based vouchers, and income restrictions span 30%, 50%, 60% and 80% of area median income (AMI). As a result of HVPG’s acquisition, affordability at Mosa is locked in for an additional 30 years, and no residents will be displaced through the transaction.
“Mosa represents a meaningful expansion of our West Coast portfolio and preservation strategy, extending our work to safeguarding affordability at newly-delivered communities in addition to repositioning legacy properties,” said Jason Bordainick, Co-Founder and Managing Partner of Hudson Valley Property Group. “By stepping into ownership shortly after completion, we are helping ensure that 387 families benefit from a quality, well-managed home with long-term affordability protections for decades to come. We are grateful to our partners at the City of Elk Grove and the California Municipal Finance Authority for their support of this vital transaction.”
The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners and public finance support facilitated by the California Municipal Finance Authority (CMFA) and the City of Elk Grove.
HVPG will focus on delivering operational excellence and resident-centered programming through a partnership with California-based nonprofit Pacific Housing, Inc. Pacific Housing will serve as the Managing General Partner in the transaction and will provide on-site residence services including afterschool and teen programing, adult education and skill-building classes, and individualized service coordination connecting residents to community resources. The property also features an on-site management office, computer room, fitness center, library, in-unit washers and dryers, and advanced high-definition site monitoring. Rooftop solar panels power the residential units, reducing tenant utility costs and the property’s carbon footprint.
Mosa is HVPG’s second property located in California. Across its national portfolio, HVPG has preserved 18,700 units across 99 properties in 13 states.

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CHICAGO, IL – Equity Residential (NYSE: EQR) and AvalonBay Communities, Inc. (NYSE: AVB) announced a definitive agreement to combine in an all-stock merger of equals making one of the country’s leading real estate companies with the differentiated scale, capabilities, and balance sheet strength to expand margins, accelerate growth, and redefine leadership in rental housing. The new company will have a pro forma equity market capitalization of approximately $52 billion and a total enterprise value of approximately $69 billion, with more than 180,000 rental apartments.
Benjamin Schall, Chief Executive Officer and President of AvalonBay Communities, said, “This combination makes a new and fundamentally stronger company with differentiated capabilities that will drive structurally superior cash flow generation, earnings and dividend growth, and value for shareholders. As one of the country s leading developers of new apartments across our regions, we will directly increase the supply of both market rate and affordable housing. Drawing on the foundational strengths and industry-leading teams across both of our organizations, our ambition is to redefine leadership in rental housing for the benefit of residents, associates, and shareholders.
We are excited to partner with AvalonBay to continue Equity Residential s history of relentlessly seeking opportunities to make value for shareholders, said Mark J. Parrell, Equity Residential s President and CEO. The combined company s investors will benefit from accelerated growth from increased investment in operational innovation; a larger, self-funded development platform; and the variety of other value creation opportunities that world class scale affords. This, together with our similar cultures that prioritize exceeding the expectations of our employees and residents, positions the combined company to make exceptional value for its shareholders, customers and employees.
This is a transformative event in the apartment industry that will make long-term value for shareholders. By combining the two premier companies in the sector, we make a company with the size and scale to be a leading operator in the space as well as a major creator of new rental housing, said Steve Sterrett, Board Chair of the new entity and former long-time Chief Financial Officer of Simon Property Group. “Having spent decades helping build and lead one of the country’s fantastic real estate companies, I have a deep appreciation for what it takes to make enduring value in this industry, and I reckon the future prospects of this enterprise are tremendous.
Under the terms of the agreement, which has been unanimously approved by the Board of Directors of AvalonBay and the Board of Trustees of Equity Residential, AvalonBay shareholders will receive 2.793 shares of Equity Residential common stock for each share of AvalonBay common stock owned. Upon closing, AvalonBay shareholders will own approximately 51.2% and Equity Residential shareholders will own approximately 48.8% of the combined company on a fully diluted basis.
The transaction is expected to be completed in the second half of 2026, subject to shareholder approval by both AvalonBay and Equity Residential and satisfaction of other customary closing conditions. The transaction is expected to qualify as a tax-free reorganization for U.S. federal income tax purposes.

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