CHARLOTTE, NC – FCP announced the $41.25 million acquisition through FCP’s Housing Preservation Fund of Cottages of Monroe (formerly Yardly Monroe), a 151-unit cottage-style apartment community in the rapidly growing suburb of Monroe, in Union County, near Charlotte, NC. The one-tale, detached and semi-detached cottages were purpose-built in 2024 as a rental community.
“The Cottages of Monroe investment supports our fund mandate to maintain affordability in a key growth market,” said Summer Haltli, Partner and Co-Founder of the FCP Housing Preservation strategy. “FCP’s acquisition of Cottages of Monroe is driven by the opportunity to buy a well-occupied, newly delivered, rental community in a favorable submarket at a favorable basis.”
Residents at the Cottages of Monroe benefit from the opportunity to live in stand-alone, newly constructed homes in a strong school district at a discount to home ownership in the same submarket. Cottages of Monroe provides a high-quality living experience for the numerous healthcare, education, and aerospace workers nearby. The submarket has experienced some of the strongest population growth in the Charlotte region over the past 5 years.
Cottages of Monroe, with one- and two-bedroom options, provides all the conveniences and amenities of multifamily living in family-friendly, private cottages with private, enclosed back yards and one-tale accessibility.
FCP has retained Greystar to manage the property. FCP will integrate resident services focused on education, economic mobility, and health to improve the resident experience and increase resident retention.

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CHARLOTTE, NC – Sherman Residential bought Elan Prosperity Village, a Class A multifamily property in Charlotte, NC, and renamed it The Wrenley. The Wrenley is a 300-unit luxury apartment community located in the heart of the rapidly growing Prosperity Village submarket of Charlotte.
Situated just off Interstate 485 the property offers exceptional connectivity to major employment centers, with access to more than 300,000 jobs within a 20-minute drive, including Uptown Charlotte, University Research Park, and the Concord industrial corridor. With the recently added Vanguard campus in University Research Park, The Wrenley’s residents will drive only five minutes to reach top employers such as Vanguard, Allstate, TIAA, and Wells Fargo.
Within the Prosperity Church Road neighborhood, The Wrenley delivers walkable retail and restaurants at three major shopping centers. Students can enroll in Charlotte-Mecklenburg public schools with ten magnet schools within five miles. Plus, the University of North Carolina’s main campus is just one neighborhood away.
The Wrenley’s midrise property and its resident-focused amenities provide: Studio to two-bedroom apartments expanding to over 1,200 square feet; A designer clubhouse with marble and natural wood finishes; Luxury options, such as quartz countertops and matte black fixtures; Focused spaces to work or study while using property-wide wifi; A private park with multiple fireside lounges and a gaming lawn; and Conveniences like in-unit washers and dryers, two EV chargers, and a 24-hour fitness center.
Sherman Residential s Senior Vice President stated: We’re proud to add a second property to our Charlotte portfolio within just four months of returning to North Carolina. After selling out of the market in early 2025, we’re entering 2026 with renewed momentum and a strong foothold in north Charlotte.
Sherman Residential has been in the real estate business for over 100 years and currently owns assets in six states. The family-owned company is headquartered in north suburban Chicago.

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SAN DIEGO, CA – Canyon Partners Real Estate and MG Properties announced their acquisition of the Shift Apartments, a multifamily building in the Downtown submarket of San Diego, CA.
Shift Apartments is comprised of a 21-tale and 5-tale multifamily community with 368 residential units, 18,840 square feet of ground floor retail space, and a 501-space structured parking garage. The property was completed in 2018 and includes units with high-quality finishes including quartz countertops and kitchen islands, designer kitchen and bath plumbing fixtures, and stainless-steel appliances.
Building amenities include a modern fitness facility, dog park, EV charging stations, and a co-working space with WiFi and private offices. The 21st floor also includes a sundeck, pool, spa, and sky lounge, which offers barbecue grills, bar seating, a fire pit, and clear views of San Diego Bay and the Downtown skyline.
The property is located in the East Village neighborhood of Downtown San Diego with walkable proximity to bustling pedestrian areas including Petco Park and the Gaslamp Quarter while being a convenient drive from Small Italy, Seaport Village, and Balboa Park. The Park and Market Trolley Station connect the property to major employment hubs throughout San Diego County, including UC San Diego, Sorrento Valley, and the Naval Base San Diego.
“East Village is undergoing a meaningful transformation, supported by strong demographic trends, infrastructure investment, and proximity to San Diego’s major employment centers,” said MG Properties President Jeff Gleiberman. “We are pleased to be expanding our apartment portfolio in San Diego and partnering with Canyon on this transaction, as this asset presents a unique opportunity to apply our operational expertise.”
Canyon has been an active provider of equity and debt capital across California for more than two decades and continues to invest in high-quality real estate projects in major markets throughout the United States. Since its inception, Canyon has capitalized ~$7.1 billion of total projects across all asset types in the state of California.

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