SARASOTA, FL – Broad Creek Capital (“BCC”), a private markets investment firm focused on U.S. real assets, announced the acquisition of The Crossing at Palm Aire, a 315-unit Class A multifamily community in Sarasota, Florida, following the successful second close of its Multifamily Advantage Fund I (“MAF I”). BCC bought the property alongside co-sponsor Hillridge Capital, with Abod Capital Solutions investing as a co-limited partner in the joint venture.
The acquisition brings the fund to nearly 30 percent deployed toward its $150 million target and follows a second close led by European family offices. The fund s overall investor base spans family offices and institutional investors in the United States and Europe. The milestone reflects continued investor confidence in Broad Creek’s disciplined strategy of acquiring high-quality multifamily communities in high-growth, Sun Belt markets where operational improvements can make long-term value.
“Broad Creek started as a family office, and we have kept that orientation as we have grown,” said Matthew Ruesch, Co-Founder and Managing Partner of Broad Creek Capital. “We invest our own capital in every transaction, and we underwrite each acquisition as owners rather than intermediaries. This close, and the acquisition it funded, reflect the kind of steady, disciplined deployment we committed to our partners.”
Completed in 2023, The Crossing at Palm Aire is a Class A apartment community in one of Florida’s fastest-growing markets. The partnership plans to enhance the property’s performance through operational improvements, targeted capital investments and resident-focused initiatives, with Hillridge Capital leading property-level asset management.
“Florida remains one of the country’s strongest multifamily markets, and Sarasota continues to benefit from population and employment growth,” said Adam Stifel, Head of Real Estate at Broad Creek Capital. “The Crossing at Palm Aire is the type of asset we look for: a high-quality community in a growing market where we can improve operations, enhance the resident experience and make long-term value.”
The Crossing is the second transaction Broad Creek and Hillridge have completed together, following The Carson in Charlotte. “The Crossing at Palm Aire is an exceptional community with tremendous long-term potential,” said Jonathan Cummings, Founder and Managing Partner of Hillridge Capital. “Together with Broad Creek, we’re focused on making operational efficiencies, enhancing the resident experience and building on an already outstanding asset.”
MAF I targets value-add multifamily investments across the Southeast and broader Sun Belt, concentrating on markets where the supply wave has already broken: markets that have absorbed recent deliveries, continue to grow, and face limited new competition ahead. The Crossing at Palm Aire is the fund’s second investment: a well-located community bought at an attractive basis, with a defined program of operational and physical improvements. It follows the off-market acquisition of The Carson, a 298-unit community in Charlotte, North Carolina, in October 2025.
Broad Creek anticipates an additional fund close in late 2026 or early 2027 as it continues deploying capital across the Sun Belt. The announcement follows the firm’s recent acquisition of the 194,000-square-foot office property at 1667 K Street NW in Washington, D.C., through its joint venture with Garfield Investments.

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MCLEAN, VA – Southern Management Companies announced its acquisition of The Shelby Apartments in Alexandria, Virginia. The addition of the 240-unit mid-rise community to Southern Management’s portfolio demonstrates the company’s strong market position and commitment to providing high-quality living experiences to the communities they serve.
The Shelby comprises primarily one- and two-bedroom apartment homes featuring spacious floor plans and updated finishes. Residents delight in a variety of amenities, including a state-of-the-art fitness center, pet-friendly grounds, and dedicated pet care facilities. The clubhouse, resort-style swimming pool, and outdoor grilling areas provide ample space for recreation, gatherings, and community engagement.
“The Shelby is a strong addition to our portfolio and reflects our continued confidence in Northern Virginia,” said Suzanne Hillman, CEO of Southern Management Companies. “Its location, quality and sense of community align well with our long-term investment strategy and our commitment to making exceptional places for people to live.”
Southern Management is a long-tenured and established owner operator with apartment, residential, and commercial properties throughout Maryland and Virginia. Southern Management looks forward to bringing long-term stability and investment to The Shelby and its residents.
Gabrielle Duvall, President of Southern Management Companies, added, “We are excited to welcome The Shelby’s residents and team members to Southern Management. Our focus will be building on the community’s existing strengths while providing the attentive service and long-term stability that residents expect from Southern Management.”
Opening its doors in 2014, The Shelby has been a central part of the revitalized Penn Daw area of Alexandria, near the intersection of Richmond Highway and North Kings Highway in affluent Fairfax County. Its location, just minutes from Interstate 495 and the Huntington Metro Station on the Yellow Line, makes the community easily accessible to current and future residents, while its proximity to Ancient Town Alexandria provides convenient access to a wide range of shopping, dining, and entertainment options.

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COLUMBUS, OH – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the groundbreaking of OSU East, a 336-unit upscale housing community in Northwest Columbus. Positioned near major employment centers and a growing mix of retail and recreational amenities, the community was designed to meet rising demand for high-quality rental housing in one of Columbus’ fastest-growing residential corridors.
OSU East marks The NRP Group’s first market-rate community in Columbus. The project is situated on a 27.5-acre site on West Dublin Granville Road that will include an additional 138 for-sale townhomes developed by M/I Homes of Central Ohio LLC.
This project represents an exciting milestone for our team and is the first of many opportunities we hope to pursue in Columbus, said Mike Zelenkofske, Executive Vice President of Development at The NRP Group. We were drawn to OSU East because of its connectivity to major transit corridors, proximity to neighborhood amenities, and the strong population and job growth shaping the region. We are grateful for the City’s continued partnership and excited to deliver a high-quality community that serves residents today while supporting the long-term growth of Columbus.
OSU East consists of 11 three-tale residential buildings with a mix of one-, two- and three-bedroom homes, including 144 one-bedrooms, 156 two-bedrooms and 36 three-bedroom units. Residence interiors will feature kitchen islands and peninsulas, granite countertops, luxury vinyl tile flooring, and balconies in most units.
Located near Ohio State University Airport and situated within the Worthington School District, OSU East offers residents proximity to Dublin, one of the region’s premier suburban employment and lifestyle hubs. The community s thoughtful design and best-in-class amenities were developed with working professionals and growing families in mind. The site offers simple access to major job centers throughout Columbus, including employers such as Ohio State University, Cardinal Health, Ohio Health, JP Morgan, Nationwide Insurance and Nationwide Children s Hospital.
The community offers convenient access to State Route 315 and Interstate 270, providing residents with strong freeway connectivity throughout Central Ohio. An 11-foot-wide bike path will also be installed along the development’s frontage in coordination with the City of Columbus, improving connectivity and walkability to nearby dining and retail along Dublin-Granville Road and Bridge Park, Dublin’s mixed-use lifestyle destination. The site is also close to Linworth Road Community Park, which offers soccer and baseball fields and walking trails, as well as Ohio State University Airport.
“We re pleased to partner with The NRP Group on this transformative development that will allow us to deliver for-sale townhomes alongside The NRP Group s high-quality rental housing,” said Josh Barkan, Division President at M/I Homes of Central Ohio LLC. “This kind of collaboration lets us meet a broader range of housing needs in Northwest Columbus, from young professionals to growing families to active adults and empty nesters, and we’re excited to break ground on our part of the site this spring.”
OSU East was designed with resident wellness, convenience and connection in mind. Amenities include a clubhouse with a full kitchen, a fitness center, a business pod with coworking space, volleyball and bocce courts, an outdoor grill and seating area, a resort-style pool and courtyards distributed throughout the site’s surface-parked layout. A package delivery room will also be available on site.
Financing was provided by PNC Bank, and the City of Columbus served as a key partner throughout the entitlement and development process.
Columbus and Central Ohio remain priority markets for The NRP Group, and the firm s latest expansion reflects strong confidence in the region s long-term fundamentals. Since 1994, The NRP Group has developed more than 68,000 apartment homes nationwide and currently manages over 33,000 residential units across the U.S. In Columbus, the company has delivered transformative developments, including Parsons Village Senior Apartments, the Residences at Career Gateway and most recently, The Lofton. Across Ohio, The NRP Group has developed more than 5,000 rental homes since 1994.
Construction of OSU East is now underway, with M/I Homes expected to start construction on its adjacent for-sale townhome community in spring 2027.

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