LONG BEACH, CA – JPI, a leader in Class A multifamily development, in partnership with Tokyo Tatemono US Ltd. and BMO Bank, has closed on construction financing for Portico, a $150 million, mixed-use development in Long Beach, Calif. Located at 450 The Promenade North, Portico marks the first phase of the highly anticipated Mosaic redevelopment project, formerly known as City Place Long Beach.
Slated for delivery in 2028, Portico will feature 272 multifamily units, including studio, one-bedroom, two-bedroom, and three-bedroom apartments – 16 of which will be designated as affordable housing units. The development will also include 18,841 square feet of ground-floor retail, offering direct access to the pedestrian promenade and enhancing the area s walkability and vibrancy
This project represents a key step forward in reimagining Downtown Long Beach, said Mollie Fadule, Chief Financial and Investment Officer at JPI. With the support of Tokyo Tatemono US Ltd. and BMO Bank, we are not just building homes, we are making a destination that blends housing, retail, and culture into a thriving urban experience.
Residents will delight in a suite of elevated amenities, including a speakeasy, rooftop deck, sports simulator, sauna, and pool deck overlooking the Mosaic shopping center. Public art murals will adorn the building s brick façade.
The broader 14-acre Mosaic redevelopment, led by Turnbridge Equities, Waterford Property Company, and Monument Square Investment Group, will ultimately deliver 900 multifamily residences and 38,000 square feet of commercial space, transforming the heart of Long Beach into a dynamic live-work-play environment.

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DALLAS, TX – Clover Capital Partners announced the successful acquisition of The Woodlands of Plano. Located in Northeast Plano, this well-positioned community represents a fully stabilized value-add opportunity with 232 units across a mix of one, two, and three-bedroom floor plans.
The property includes assumable fixed-rate debt at 3.02% with a full 10 years remaining, providing exceptional long-term interest rate security, positive arbitrage and downside protection.
Plano offers proximity to major employers like Toyota, Frito-Lay, and Texas Instruments, making it a prime location for residents. The property is close to attractions such as Downtown Plano, Legacy West, The Shops at Willow Bend, and Oak Point Park, providing a mix of urban convenience and outdoor recreation.
A primary driver for the area and its residents is its location within the highly desirable Plano ISD, which is consistently ranked among the top districts in DFW. The metroplex remains the nation’s fastest-growing market for jobs and population growth, and is expected to gain 180,000+ new residents in 2025 alone.
We are incredibly grateful for the continued confidence and support of our investor partners, whose commitment makes opportunities like this possible. We would also like to extend a special thank you to CBRE for their partnership and execution in bringing this transaction to the end line.
We would also like to recognize our legal counsel, Platt Richmond, for their diligence and hard work throughout this transaction. Their guidance, responsiveness, and attention to detail were critical in navigating the legal complexities of the acquisition and helping ensure a smooth closing process.
“This marks an exciting step forward for our firm. Clover looks forward to executing our business plot, making more long-term value for our residents and investors, while maximizing returns and minimizing risk,” says Co-Founder Bryan Harlan.

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COLUMBUS, OH – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the grand opening of The Lofton, a 245-unit family-focused housing community in Columbus s South High neighborhood. Developed in partnership with the City of Columbus and faith-based nonprofit Community Development for All People, the project features thoughtfully designed homes serving households earning between 30% and 80% of the Area Median Income (AMI).
The Lofton represents a meaningful step forward for Columbus as the city grows in population and job opportunities, said Aaron Pechota, Executive Vice President of Development at The NRP Group. We and our partners designed these homes for the families that power the city, with spaces that foster connection, growth and stability. Together, we ve made a development that will anchor the South High corridor and support its continued growth for generations.
Located just off of South High Street at 55 Fornof Road, The Lofton is designed for families, and more than half of all residences are a mix of three- to four-bedroom homes. A 3,500 square-foot commercial space on the first floor is reserved for a daycare operator to support the needs of residents and the surrounding community.
Transformative projects like The Lofton help unlock the full potential of our city, said Columbus Mayor Andrew Ginther. Through a combination of public and private investment, we are bringing new housing, new energy and new opportunities to the South High neighborhood, setting the stage for more people to live, work and thrive in Columbus.
The Lofton offers simple access to downtown Columbus, the Small North Arts District, the Arena District and Nationwide Children s Hospital, as well as public transit along the South High corridor. Retail, dining and entertainment options are within walking distance, while major employment hubs and educational institutions, including Columbus State Community College, are minutes away.
The new community was designed by MA Design, a women-owned Columbus firm with a 45-year history specializing in family-oriented and affordable housing. Apartments feature fully equipped kitchens, modern cabinetry, luxury vinyl plank flooring, and walk-in closets. Residents will have access to onsite parking, elevators, package concierge services and laundry facilities.
The Lofton offers residents a robust suite of amenities that encourage connection, wellness and convenience. Indoor amenities include a fitness center, community room and spaces for gatherings and recreation. Outdoor areas feature walkable paths throughout the property, a playground and landscaped open spaces designed for interaction and daily activity.
Development and financing partners include KeyBank, which provided construction and permanent financing, Hudson Housing Capital and support from the City of Columbus and Franklin County through local bond and rental housing programs.
The Lofton is a strong example of how thoughtful partnerships can produce housing that s both financially sound and socially impactful, said Marisa Rodriguez, Vice President at Hudson Housing Capital. We re honored to have played a role in bringing this vital resource to the South High community.
Co-developer Community Development for All People helped guide the project s focus on larger homes and community-oriented spaces, building on prior collaborations with The NRP Group in Columbus, including Parsons Village Senior Apartments and the Residences at Career Gateway.
The Lofton is the most recent demonstration of our commitment to providing high-quality, affordable housing, said Mike Premo, Executive Director at Community Development for All People. With this project marking our fifth partnership with The NRP Group, we re proud to play a pivotal role in fostering vibrant communities where residents have access to safe, comfortable, and affordable homes that will enable them to not just live, but thrive.
The Columbus metro area remains a priority market for The NRP Group. The firm has developed nearly 2,000 units across more than 10 properties in the city, and has developed more than 5,000 rental homes across the state of Ohio since 1994.

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