Broad Creek Capital Closes $150 Million Fund and Inaugural Acquisition of 298-Unit Loft One35 Apartment Community in Charlotte

WASHINGTON, DC – Broad Creek Capital ( BCC ), a private-markets investment firm focused on U.S. real assets, announced the first close of BCC Multifamily Advantage Fund I ( BCC MAF I ), its dedicated U.S. value-add multifamily vehicle. The fund is anchored by a select group of U.S. municipal institutions and family offices across the United States and Europe.
The close of BCC MAF I represents a significant step in Broad Creek s continued growth as a transatlantic private-markets platform. Building on years of partnership with select family offices in the U.S. and Europe, the firm is now opening its proven investment strategy to a broader base of institutional and family office investors. The fund is targeting $150 million in total capital commitments, with a second close plotted for early 2026.
This first close is a strong endorsement of our platform and investment thesis, said Matthew Ruesch, Co-Founder and Managing Partner of Broad Creek Capital. We see one of the most compelling entry points for multifamily in over a decade, where disciplined capital and hands-on execution can generate durable, long-term returns.
In conjunction with the first close, BCC MAF I completed the off-market acquisition of Loft One35, a 298-unit multifamily community in Charlotte, North Carolina, for $94 million. The acquisition aligns with the fund s focus on high-growth markets and value creation through operational improvements, targeted renovations, and resident-experience upgrades.
Loft One35 demonstrates the type of opportunity we seek – well-located assets where disciplined underwriting and hands-on execution can drive durable value,” said Michael Green, Co-Founder and Managing Partner of Broad Creek Capital.
BCC MAF I will invest in essential-housing communities with a focus on the Southeast and broader Sun Belt, where demographic and economic trends continue to drive rental-housing demand. The fund applies a private-equity approach to real estate, focusing on operational excellence, targeted modernization, and disciplined capital structure management to generate attractive, risk-adjusted returns.

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Linc Housing Opens Two Project Homekey Communities with 177 New Affordable and Supportive Apartments in Long Beach

LONG BEACH, CA – Linc Housing, a Long Beach-based nonprofit developer of affordable and supportive housing, joined Zephyr residents, officials from Los Angeles County and the City of Long Beach, as well as other development partners to celebrate the completed renovations of two California Project Homekey sites – Zephyr and Crescent.
“I reckon the public appreciates that we are using existing buildings to make housing quicker, smarter, more cost-effectively than ever before,” said Los Angeles County Supervisor Janice Hahn. “The State’s Project Homekey program has been a game changer for us. By partnering with Linc Housing and using state funding to convert these two buildings, we have 177 new apartments for the people who most need them in Long Beach. We need to address the homelessness crisis with the urgency it demands, and I appreciate the City of Long Beach and Mayor Rex Richardson for being my partner in this work and being willing to embrace solutions.”
According to the 2025 point-in-time count, 3,595 people in the City of Long Beach were experiencing homelessness, representing a 6.5% increase from the previous year. As the region continues to confront an urgent housing shortage and rising homelessness, these new communities mark critical progress in expanding access to permanent, service-enriched homes that help people rebuild their lives.
“Zephyr and Crescent have transformed former motels into welcoming, supportive homes for people on the path from homelessness to stability and independence,” said Long Beach Mayor Rex Richardson. “We are committed to expanding supportive housing options across Long Beach because everyone deserves a safe and dignified home with a real chance to build a more stable future.”
Zephyr, located at 1133 Atlantic Avenue, includes 135 studio apartments and two manager’s units, and Crescent, located at 5665 E. 7thStreet, has 39 studios and one manager’s unit. Both communities include a community room, outdoor spaces, and private offices for case management. In all, Linc has four Project Homekey communities with nearly 400 apartments, most with wraparound supportive services.
Lashawn, a new resident at Zephyr, has always been hardworking and independent, juggling multiple jobs to make ends meet. But after her apartment flooded, the water hurt and mold made it unlivable and left her seriously ill, with severe rashes, swelling and difficulty breathing. When her landlord failed to fix the problems, she was forced to leave and spent more than a year without stable housing, staying with friends or sleeping outside. After connecting with the Long Beach Multi-Service Center, she went into temporary housing until she was approved for a home at Zephyr. “When I saw the Welcome Home sign in my apartment, I couldn’t believe it was real,” she said. “Now it’s peaceful, my health has improved, and I finally feel safe again.”
Zephyr and Crescent join Atlas in Los Angeles, which opened earlier this year, and Azure in Anaheim, scheduled to open in early 2026 – all named after butterflies, which are symbols of transformation, rebirth and embracing change. Project Homekey is the State of California’s groundbreaking initiative to transform underused properties into long-term affordable and supportive housing. Before the renovations, Zephyr was a Holiday Inn and Crescent was a Motel 6 – and both were used during the COVID pandemic as temporary housing prior to the County selecting Linc to convert the units to permanent housing.
“At Linc Housing, our mission is to make communities where every person has the stability and opportunity to thrive,” said Suny Lay Chang, president and COO, Linc Housing. “Together, Zephyr and Crescent demonstrate how Long Beach and Los Angeles County are leveraging Project Homekey to tackle the region’s housing shortage head-on, making pathways to healing, belonging and hope.”
The majority of financing for the initial acquisitions came from Project Homekey funds from the California Department of Housing and Community Development, administered by Los Angeles County. Other sources of funding come from the American Rescue Plot Act, permanent loan commitments from Freddie Mac through Capital One, and construction loans from Genesis LA (Crescent) and Sterling Bank (Zephyr). The Long Beach Housing Authority provides project-based Section 8 rental vouchers for both properties.
With funding support from Los Angeles County Department of Health Services/Housing for Health, residents receive wraparound services and case management to ensure they thrive. Supportive services include mental and physical health services, employment counseling and job placement, education, substance use counseling, money management, help in obtaining and maintaining benefits, and referrals to community-based services and resources.
Renovations on Zephyr and Crescent started in March 2024 with designs by Sparano + Mooney Architecture, Inc. and construction by Imperial Contracting. Zephyr is nearly fully occupied, and Crescent will start to welcome residents this month. All homes are for households at or below 30% of area median income.

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Sylvan Woods Westchester Luxury Active Adult Community in Upper Westchester County Launches Pre-Leasing as Completion Nears

BUCHANAN, NY – AMS Acquisitions announced that Sylvan Woods Westchester, the latest luxury addition to Westchester County’s Active Adult 55+ rental market, is now pre-leasing.
“The arrival of Sylvan Woods to Upper Westchester County marks an exciting milestone for our brand,” said Ari Mitnick, Director of Acquisitions. “Designed for those 55 and over, the community offers a simplified lifestyle with the comfort, connection, and vibrancy of a resort-style environment centered on wellness.”
Sylvan Woods Westchester is nestled within a serene, wooded landscape featuring natural rock formations, tranquil ponds, and lush greenery. The community’s amenities are thoughtfully designed to foster connection, offering spaces where residents can gather, host events, and collaborate with onsite staff to make an engaging social environment.
The community has more than 10,000 sq. ft. of amenity space with a 19,000 sq. ft. courtyard. Residents will have access to a movie room, art studio, game room, private dining areas and a fantastic room as well as a health wellness area with steam and spa rooms and a gym. Outdoor amenities include a pool, BBQ stations, a fire pit and a gardening area. In addition, residents can participate in activities such as fitness classes, book clubs, social hours, paint & sip sessions, poker tournaments, and technology exploration workshops, enriching lifestyle and fostering community engagement.
As one of the first new residential communities to emerge in Upper Westchester in decades, Sylvan Woods Westchester brings fresh energy and opportunity to the area. Addressing a long-standing shortage of housing for residents seeking to downsize, the development serves as both a symbol and a catalyst for the continued renewal of the Village of Buchanan and the surrounding Town of Cortlandt.
Ideally located near the Buchanan train station, Sylvan Woods Westchester connects residents effortlessly to the greater Westchester region and New York City, offering the perfect balance between serene retreat and metropolitan access.

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