NEW BRAUNFELS, TX – Embrey has closed on the land buy for Collection at Gruene, marking the first project for the company’s newly launched single-family rental platform. Embrey’s single-family rental program will consist of one- and two-tale homes within a rental community with best-in-class amenities and professional property management. Embrey’s plot includes 126 duplex-style homes, with 252 units.
The deal was financed by PlainsCapital Bank, one of the largest banks in Texas, based in Dallas.
“This is an exciting offering for Embrey that expands our current portfolio of luxury living experiences beyond traditional multifamily residences,” said John Kirk, Managing Director and Executive Vice President of Development for Embrey.
Gruene, a historic area of New Braunfels, sits just off the I-35 corridor between Austin and San Antonio, Texas, in the second-fastest growing market in the U.S. according to the U.S. Census Bureau.
“The single-family rental living experience is highly desired by today’s discretionary renter,” said Jeremy Williams, Senior Vice President of Development for Embrey. “We have a premier location where residents can walk to historic downtown Gruene. The community is easily accessible to both Austin and San Antonio and close to local attractions like the Schlitterbahn Waterpark & Resort and the Guadalupe and Comal Rivers.”
The unique community will feature granite countertops; stainless steel kitchen appliances; washers and dryers; private driveways; fenced yards and attached garages with EV car charging outlets. Built-in desks and walk-in showers are available in select units.
Resident-accessible amenities include a private community clubhouse with a media room; a fitness center connected to an outdoor exercise and yoga lawn; a resort-style pool with sun decks, cabanas, and shade trellis lounge areas; outdoor grilling, fireplace and dining areas; and a large, fenced dog park.
Club and first-units are expected to be available first quarter of 2023. Construction of all units is expected to be completed by early 2024.

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CHARLOTTE, NC – Canada Pension Plot Investment Board (CPP Investments) and LMC, a wholly-owned subsidiary of Lennar Corporation (NYSE: LEN and LEN.B) and a leader in apartment development and management, have formed a new joint venture to develop Class-A multifamily residential communities across high-growth metropolitan areas in the U.S.
CPP Investments and LMC have allocated $979 million in equity to the joint venture. CPP Investments will own a 96% stake and LMC will own the remaining 4%.
“This investment is an brilliant opportunity to meet the strong demand for high-quality multifamily housing,” said Peter Ballon, Managing Director, Global Head of Real Estate, CPP Investments. “We are pleased to work alongside a best-in-class partner like LMC to continue to build our portfolio of multifamily investments, which we believe will deliver steady, long-term returns for the CPP Fund.”
The joint venture will focus on urban and suburban communities across major U.S. markets exhibiting strong population and job growth. It will also leverage LMC’s extensive development and construction expertise to build multifamily communities at an attractive cost basis, and benefit from LMC’s fully integrated development management, construction management, property management and investment management platforms.
The venture will launch with five seed assets: One in Boston, one in Miami and three in Denver, together totaling 1,371 apartment homes.
“This joint venture specifically targets high-growth markets where the housing supply hasn’t kept pace with renter demand, and we are proud to be part of the solution,” said Todd Farrell, President of LMC. “Our partnership with CPP Investments enables us to deliver on our mission to make extraordinary communities where people can live remarkably. We look forward to delivering on that vision with these five initial assets, as well as all future endeavors with CPP Investments.”

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ATLANTA, GA – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Skyhouse Midtown, a 320-unit, 23-tale luxury high-rise multifamily building prominently located in the heart of Midtown Atlanta, for $131 million.
The deal marks the first high-rise multifamily building RADCO has bought in its current investment cycle and complements the firm’s existing portfolio of multifamily and commercial real estate. The property has been renamed “The M by Radius.” Radius is RADCO’s highest brand and joins nearby Radius West Midtown to bolster the company’s in-town presence. RADCO previously owned the 53-tale Four Seasons hotel, office, and residential tower just blocks away from The M by Radius.
Built in 2013, the newly branded The M by Radius was one of the first buildings constructed in Atlanta coming out of the Fantastic Recession. The property offers a prime location at the corner of West Peachtree and 12th Street, the new epicenter of the city with offices, retail, and entertainment nearby. The ground floor includes 8,658 square feet of retail space.
The M by Radius is the closest high-rise to the I-75/85 connector in Midtown and one of the most visible buildings in the Atlanta skyline, offering exceptional signage or art opportunities on its half-domed roof. The property features frontage on Spring Street, 12th Street, and the bustling West Peachtree Street.
The building consists of studio, one-, two-, and three-bedroom apartments and luxury “amenities in the sky” including a rooftop pool and lounge, fitness center, and grills all with 360-degree views overlooking Atlanta’s skyline. The unit interiors at The M by Radius have modern, open floorplans with ample room for value-add expansion.
“RADCO is pleased to announce we have bought Skyhouse Midtown, our first high-rise, late vintage property acquisition in this cycle,” said Norman Radow, CEO of the RADCO Companies. “As residents and capital migrated to the suburbs during the pandemic, the cost of buying suburban apartment assets also substantially increased. There’s been a recent shift back to the urban core making in-town residential an attractive investment once again. The M by Radius offered everything we were looking for in an urban multifamily asset and as always, we intend to invest in this incredible building and significantly improve the resident experience. RADCO intends to seek out additional urban residential investments throughout the Southeast.”
The M by Radius sits directly across from 1105 West Peachtree, a fully-leased, newly constructed office building that is the plotted new regional headquarters for Google, part of its recently announced expansion in the Atlanta market. In addition, the property is across the street from the culinary-themed Epicurean Hotel, Northside Hospital’s in-town campus, SCAD, Georgia Tech, and other business and cultural attractions.
Skyhouse was first made by the visionary developer Jim Borders and his Novare Group.
The deal represents the 100th transaction for RADCO during the current real estate cycle. The Northmarq team led by Jason Nettles and Megan Thompson brokered the transaction.

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