ORLANDO, FL – Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, announced that it has completed a significant rehabilitation of Valencia Park. The 208-unit affordable property in Orlando, Florida currently serves about 800 residents. LAC closed on the acquisition of the property in January 2021 and as part of the rehabilitation, extended the property’s affordability restriction for another 30 years.
“Lincoln Avenue Capital is a mission-driven company that works to strengthen communities through affordable housing,” said LAC CEO Jeremy Bronfman. “We are proud to expand our impact in Orlando by providing high-quality, sustainable homes for nearly 800 residents.”
“We look forward to preserving and extending the affordability of Valencia Park for another generation of residents,” said Eli Bronfman, LAC Managing Partner.
Lincoln Avenue Capital invested significantly in rehabilitating and upgrading the property. Completed upgrades to individual units include new kitchen appliances, new countertops, and vinyl plank flooring. The buildings received fresh paint and new windows as well as HVAC and electrical system improvements.
“I am thrilled about the recent renovations—it nearly feels like I am living in a new place entirely,” said resident Kim Lopez, who has lived at the property since 2015. “From the new flooring to appliances, upgrades across the board have made a positive impact on my daily life.”
LAC equipped the property with a range of new sustainability features such as energy-efficient windows in each unit, low-flow appliances that preserve water, and daylight sensors attached to the buildings to conserve electricity. Additionally, LAC improved the site’s accessibility with new wheelchair-accessible paths installed throughout the property.
Valencia Park currently offers residents outdoor amenities including a swimming pool, playground, and basketball court. The property management and resident services teams will continue to provide residents with opportunities to connect through community picnics, holiday parties and programming for children on a regularly scheduled basis.

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HOUSTON, TX – The Bascom Group has continued their acquisition run in Texas acquiring a 150-unit apartment community in Houston, marking their fourth Houston acquisition in nearly 12 months. Windwater at Windmill Lakes is a 150-unit community, built in 1999 and located in the southeast Houston submarket. The acquisition marks Bascom’s 39th multifamily property closed in Texas.
John Carr with Cushman & Wakefield represented the seller in the transaction. Huntington National Bank provided the debt financing for the acquisition and was arranged by Jason Pumpelly with Cushman & Wakefield. SD Cap Construction Management will provide construction management services and Cushman & Wakefield will provide property management. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.
The apartment community is very well-maintained, offering functional, spacious interior floorplans with original construction features ideal for upgrades. The existing amenity space offers sufficient opportunities for enhancement to better serves the needs of existing and future residents. With 100% of the units in original condition, this acquisition presents an attractive opportunity to physically reposition the asset.
Demand for Houston multifamily accelerated dramatically in the second half of 2021. Houston is expected to have the third largest employment growth in the US from 2021-2026 and is expected to have the largest population gain in the US from 2021-2026.
Chang Liu, Acquisitions Director for Bascom, adds “We are very pleased with this acquisition as it aligns well with our Texas strategy of acquiring newer vintage assets with minimal deferred maintenance and major value-add potential.” Jason Hanna, Senior Vice President of Operations, comments “We are excited to buy a property that offers characteristics, like large floorplans and ample community space, that are desired by today’s renters. We can elevate the interior design to match current modern standards and offer a boutique rental product for the submarket.”

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MCKINNEY, TX – Morgan Properties, one of the nation s top three multifamily owners, announced it has bought parcHaus at Skyline, a brand-new, 136-unit single-family rental community in McKinney, Texas. It bought the luxury Build-to-Rent community from Dallas-based Provident Realty Advisors. Rebranded Elevate at Skyline, this transaction represents Morgan Properties first Build-to-Rent acquisition and its third rental community in Texas.
For nearly four decades, Morgan Properties has been predominantly focused on acquiring larger Class B multifamily portfolios where we can bring our value-add expertise and make operational efficiencies, said Jonathan Morgan, President of Morgan Properties JV. While these opportunistic multifamily investments remain our core focus, we also see immense opportunity in partnering with developers in the build-to-rent market and capitalizing on the growing popularity among renters for single-family homes that allow for more space and privacy.
Located right outside the Dallas-Fort Worth area, Elevate at Skyline is situated in an ideal location with direct access to Highway 380 and I-75. Residents are in close proximity to well loved shopping and business centers including The Raytheon Campus and Allen Premium Outlets, local and international airports, and state-of-the-art healthcare facilities.
Elevate at Skyline offers one-, two-, and three-bedroom homes and is the perfect community for renters looking for more space and privacy than a multifamily community without the hassle of homeownership. These newly-constructed homes feature private backyards, smart thermostats and locks, energy-star appliances, in-unit washer and dryers, and modern design finishes. Elevate at Skyline s gated community is highly amenitized and offers covered and garage parking, a pickleball court, pool, dog park, business center, and more.
Single-family rental homes are in high demand in the Dallas-Fort Worth area, specifically in towns that boast a desirable quality of living, upper-echelon school districts, and a robust employer base like McKinney, Texas, said Jason Morgan, President of Morgan Properties Special Situations & Principal. This made acquiring Elevate at Skyline an simple choice for us, and one that will jumpstart our future interest in diversifying our portfolio through single-family rental communities, all while continuing to grow our presence in the thriving Sun Belt region.

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