LOS ANGELES, CA – Ethos Real Estate, an affordable and mixed-income multifamily investment firm, announced the company has closed on the $76 million buy of the Residences at Woodlake, a 276-unit multifamily property in the Crenshaw District of Los Angeles.
Under the deal, Ethos will be converting the formerly market rate property into deed restricted affordable housing through a unique public private partnership that leverages a California statutory property tax exemption. Under the deed restriction, half of the units will be restricted to families earning up to 80% of the Average Median Income (AMI) for Los Angeles, and 10 percent will be restricted to families earning up to 60% of AMI, for 55 years.
We are excited to be scaling the potential for public private partnership around the production of affordable housing, said Jennifer McElyea, Ethos Real Estate Managing Partner. California has a critical shortage of public funds to address the housing crisis and innovative models will absolutely need to be part of the solution.
The property was the second buy for Ethos joint venture with GCM Grosvenor, investing on behalf of its clients. GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $73 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies.
We are proud to be partnering with Ethos in ways that creatively address the shortage of affordable housing in communities across California, said Peter Braffman, Managing Director at GCM Grosvenor.

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NASHVILLE, TN – Cantor Fitzgerald announced the sale of Rivertop Apartments in Nashville, Tennessee. The sale was facilitated on behalf of investors in Rivertop Apartments, resulting in a total return of 137% of their aggregate original investment and an internal rate of return of 12% over the approximately three-year hold period.
Completed in 2019, Rivertop Apartments is a 224-unit, Class-A apartment community featuring elegant interior finishes and an expansive amenity set, including a resort-style pool, 24-hour fitness center, and a pet spa. The property is approximately eight miles west of downtown Nashville, along the I-40 corridor, providing accessibility to major employment centers, universities, retail centers, and lifestyle amenities.
“Rivertop Apartments is uniquely located on an elevated site with scenic views of the Cumberland River within the vibrant Nashville market,” said Aaron Wessner, Managing Director, Head of Capital Markets, Cantor Fitzgerald Asset Management. “Over the past three years, we successfully executed the business plot to optimize operations for this high-quality property and are pleased to have delivered an attractive return for investors.”
As of December 31, 2022, Cantor Fitzgerald’s real estate investment portfolio comprises over 7,900 stabilized multifamily units plus over 2,500 units under development, and over 8.1 million square feet of office, industrial, life science, and retail space across 147 properties. For the 12-month period ending September 30, 2022, Cantor Fitzgerald participated in more than $155 billion of total real estate transactions.

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BALTIMORE, MD – Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, is now leasing at The Lucie, a pet-friendly 500-unit apartment community in Brewers Hill that features a sky lounge with views of downtown and the harbor and high-end finishes including quartz countertops and tile backsplashes.
“We are thrilled with the delivery of the Lucie,” John Clarkson, Managing Director of Development, said. “Its innovative design, carefully selected amenities, and access to high quality retail will provide our residents an unrivaled living experience in the heart of Brewers Hill.”
Greystar, together with their joint venture partner, Griffin Capital Company, LLC, a leading private real estate investment manager, brought The Lucie to fruition.
The Lucie is one of nine communities being developed by Griffin Capital Qualified Opportunity Zone Fund L.P., which will comprise 3,273 apartment units with an estimated total project cost of approximately $979 million.
“The Lucie provides much needed multifamily units to the quick-growing Brewers Hill neighborhood, and we are thrilled that our long-term investment in this neighborhood will continue to make jobs, provide economic stimulus, and a fantastic experience for our residents for many years to come. The property was built on vacant and underutilized land, and we are proud to have converted the site into much needed housing. Greystar has been an integral partner in our mission, and we are excited to start leasing on another property with their team,” commented Eric Kaplan, President of Griffin Capital.
Floorplans are available in studio, one-, and two-bedroom layouts, with additional loft and den options. Apartment homes feature electric cooktops, nickel-end appliances, kitchen islands, flat cabinetry, mobile unit entry, smart thermostat, walk-in closets with built-in storage, stackable washers and dryers, and picturesque balconies with views of Brewers Hill and the water.
Community amenities include a cozy library, clubroom, game room, chef’s kitchen, fitness center, coworking spaces, conference room, semi-private call booths, active, zen and pool courtyards and a posh pet grooming studio.
The Lucie was designed by BKV Group architects, Edit Labs made the interiors and John Moriarty Associates served as the general contractor. Streetsense led the community’s branding efforts.
Brewers Hill features a history of beer brewing with the illuminated Mr. Boh sign that hangs above the ancient Natty Boh brewery serving as a local landmark. The Lucie is close to shopping which includes Sprouts Farmers Market, Harris Teeter, Target and Nordstrom Rack. Jimmy’s Well-known Seafood tops the area dining options that also include Mission BBQ, Di Pasquale’s Marketplace, Pasta Misa Canton and Iron Rooster, amongst others. Additional neighborhood highlights include Bark Social Baltimore, Canton Waterfront, Mobtown Brewery, Patterson Park and more. The community is a small drive to Fells Point, the Inner Harbor, which features a variety of entertainment options, and Oriole Park at Camden Yards and M&T Bank Stadium.

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