RALEIGH, NC – Located just four miles north of Myrtle Beach, SC, home to gorgeous beaches, award-winning restaurants, and highly-touted golf courses, The Banks at Bridgewater will offer sophisticated apartments starting in late 2021.
Infusing daily life with a dose of vacation, The Banks at Bridgewater features floor-to-ceiling windows, granite countertops, hardwood floors, spacious kitchen islands, balconies with incredible views, large walk-in closets, luxury bathrooms, a washer and dryer in every home, and more. Living at The Banks at Bridgewater allows you to step outside and soak in the vacation vibes while enjoying the saltwater pool and sun-deck with available sound systems, private workspaces, and valet trash pickup.
Drucker + Falk (DF), with deep roots in multifamily management, is a performance-driven real estate service and investment firm among the most respected property management and commercial real estate companies in the country. DF has once again joined forces with NC-based developer, Craig Davis Properties (CDP) to bring yet another stunning apartment community to market, having first worked with CDP on Lumen Apartments, Hampton, Virginia s premiere luxury apartment community. With over three decades of experience, the teams at CDP effortlessly combine state-of-the-art concepts with state-of-the-market opportunities to make unique environments for all who live, work, and play in the community.
For The Banks at Bridgewater s development, DF and CDP have worked together on multiple levels – consulting, design, development, and lending one another expertise and experience in the fields of multifamily development and management and in new construction.
DF Managing Director and Principal, Kellie Falk, says With more than ten decades of experience under our belts collectively, the teams at CDP effortlessly combine their forward-thinking thoughts and state-of-the-art concepts with our thoughts for management and development. All of us at Drucker + Falk are looking forward to more projects to come with Craig Davis Properties.

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ALTAMONTE SPRINGS, FL – The GSH Group, an experienced team of highly qualified and innovative multifamily real estate investors, bought its first Florida property, for $62.8 million. The Preserve at Spring Lake is a 320-unit multifamily community in Altamonte Springs, FL, which is within the thriving and diverse northern suburban Orlando market located in Seminole county.
GSH plans to elevate this well-maintained 1970’s vintage property, with capital improvements budgeted at over $3.8 million. Residents of The Preserve at Spring Lake already delight in the use of five swimming pools and a low-density site plot, and GSH signature renovations will further amplify the residents’ comfort and lifestyle. The upgrades contracted with Multifamily Commercial Construction LLC, headquartered in Oak Park, MIrun the gamut from renovating unit interiors and exteriors to installing exterior lighting and updating parking to implementing cost-saving efficiencies via human touch and tech touch.
“We are thrilled to have hired Bainbridge, a best-in-class third party property manager of this property, and we are confident they will help us push this property to its fullest potential,” said Gideon Pfeffer, the managing partner at The GSH Group.
This acquisition and its capital improvement strategy align perfectly with GSH’s goals to bring strong and steady returns to its investors and partners while enhancing the lives of its residents and all stakeholders through well-plotted and measured value-add upgrades to its properties and via innovative social impact programs. The GSH Group’s concierge approach to real estate investing allows investors to participate in the lucrative multifamily real estate market with ease and assurance that all the hard work and challenges are being managed and executed with expert stewardship.

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INDIANAPOLIS, IN – The Woodforest CEI-Boulos Opportunity Fund, a high-impact commercial real estate Opportunity Zone fund established by Woodforest National Bank and CEI-Boulos Capital Management, announced its $3 million equity investment in The Wesmont in Indianapolis’ Near Eastside neighborhood. The new property, built on a four-acre remediated industrial brownfield site, consists of 188 new workforce apartments, 170 of which are affordable to people with low incomes. The Woodforest CEI-Boulos Opportunity Fund is the majority equity investor in the $31.1 million project spearheaded by TWG Development, LLC.
The Wesmont, at 1129 East 16th Street, is named after Indianapolis native and lifetime resident Wes Montgomery, one of the most influential jazz guitarists of the 20th century. The project is part of a neighborhood-driven redevelopment plot by the City of Indianapolis. In addition to several local designations targeting the neighborhood for revitalization, The Wesmont is located in one of only 22 federally designated “Promise Zones” in the U.S., targeted for priority federal support of local redevelopment initiatives. The project will benefit from an Industrial Recovery Tax Credit, which is issued by the Indiana Economic Development Corporation to incentivize investment in former industrial sites requiring significant rehabilitation and/or remediation.
“CEI-Boulos Capital Management is committed to harnessing the Opportunity Zone incentive to serve its intended purpose – to truly benefit and revitalize underinvested communities, like Indianapolis’s Near Eastside neighborhood,” said Sam Spencer, CEO and Managing Director, CEI-Boulos Capital Management. “We’re thrilled to be working with our partners at TWG Development on this transformative project providing affordable housing and improving the environment.”
“It’s fantastic to see the equity investments of our fund making an impact in neighborhood-driven initiatives like The Westmont,” said Doug Schaeffer, Executive Vice President, CRA Executive Director, Woodforest National Bank. “There is a critical need for affordable workforce housing, excellent jobs and trusted guidance in Indianapolis and The Westmont is a historic investment our fund proudly stands behind.”
Revitalization and economic development benefits of this project include access to a public bus stop and “rails to trails” 18-mile walking and biking path linking The Wesmont to the city’s commercial districts, schools, parks, and residential neighborhoods. The development is making new local jobs with an average wage of $20.00/hour. EmployINDY, a nonprofit organization dedicated to removing barriers to quality employment for underserved and underrepresented residents, will help recruit, hire, and train new employees.
“Without the Woodforest CEI-Boulos Opportunity Fund’s Opportunity Zone equity investment, the project would not be possible,” said J.B. Curry, Vice President of Market Rate Development, TWG Development, LLC., an established Indianapolis-based real estate development company with a proven track in conventional, workforce, senior and affordable housing/mixed-use developments around the country. “This is an example of an Opportunity Zone investment happening for the right reason and making the difference between a project going forward or not.”
The Wesmont is one of ten high-impact investments made to date by the fund. The Opportunity Zones program is a community investment tool established by Congress in 2017 to encourage long-term investments in low-income communities nationwide. Opportunity Zones are low-income census tracts nominated by governors and certified by the U.S. Department of the Treasury.

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