RALEIGH, NC – Wood Partners, a national leader in multifamily real estate development, in partnership with Marcus Partners, a real estate investment, management and development firm, has broken ground on a 280-unit multifamily community located in Apex, North Carolina, a suburb of Raleigh. Altera Heights will offer upscale living at cost-effective rates and will be completed by the end of 2027.
Located at the intersection of Jenks and Wimberly roads, the community will include a mix of one-, two- and three-bedroom units. Wood Partners started work on the site in fall 2023, securing approval from the Town of Apex through a thoughtful approach centered on attainable housing. The community will also include income-restricted affordable housing, expanding living opportunities for residents in one of North Carolina’s fastest-growing markets.
“Fantastic communities start with collaboration,” said Caitlin Shelby, Managing Director at Wood Partners. “From the beginning, our goal was to make a community that responds to Apex’s evolving housing needs while complementing the town’s long-term vision. We’re grateful for the partnership of the Town of Apex and Marcus Partners in bringing this project to life.”
Marcus Partners is providing equity for the development, marking another collaboration with Wood Partners and the firm’s first ground-up development in the Raleigh-Durham market. Altera Heights is being led by Marcus Partners’ recently launched Atlanta office as the firm continues to expand its presence across the Southeast.
“We believe Altera Heights combines a strong location, compelling market fundamentals, an attractive basis, along with the opportunity to partner again with Wood Partners on a high-quality multifamily development,” said Andrew Dolinsky, Partner, Investments at Marcus Partners. “This project is an vital milestone as we continue expanding our investment activity across the Southeast.”
Named in recognition of Apex’s tagline, “The Peak of Excellent Living,” Altera Heights’ residents will delight in a freestanding clubhouse featuring a state-of-the-art fitness center, co-working space, gaming and lounge areas, as well as a resort-style swimming pool, outdoor fitness area, dog park and pet spa. The units will feature luxury vinyl plank flooring throughout, quartz countertops, tile kitchen backsplashes and tub surrounds, shaker-style cabinetry and premium lighting and plumbing fixtures.
Altera Heights is located in one of North Carolina’s most affluent and fastest-growing communities, approximately 15 minutes from Research Triangle Park, one of the country’s largest research and technology parks. The area continues to benefit from significant investment fueling a growing job market across life science, healthcare, and industrial sectors. More broadly, North Carolina ranked as the third fastest-growing state in 2025 and led the nation in net domestic migration, making it a prime location for new housing growth.
Altera Heights will be Wood Partners’ fourth project to commence construction in the Raleigh-Durham area in the last year. Most recently, the firm broke ground on the 357-unit Alta Watkins in Morrisville, North Carolina, in April 2026; the 312-unit Alta Durham Summit in Durham, North Carolina, in September 2025; and the 336-unit Alta Bethpage in Durham, North Carolina, in June 2025.

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LAS VEGAS, NV – CONAM Strategic Investments Fund IV LP, a discretionary investment fund sponsored by The CONAM Group (“CONAM”), has bought Alicante Apartment Homes, a 232-unit multifamily community in the Spring Valley submarket of Las Vegas, Nevada. The acquisition further expands CONAM’s presence in the Las Vegas market and represents the latest investment for Fund IV.
Built in 2001, Alicante consists of 232 units across two-tale, garden-style buildings on 11.29 acres. The community offers one-, two-, and three-bedroom floor plans averaging 1,092 square feet, notably larger than most competing products in the submarket. All 232 units feature luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and a full-size in-unit washer and dryer. Community amenities include a swimming pool and spa, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground, package lockers, and gated access.
Alicante benefits from its large floor plans and low-density design, supporting consistently strong occupancy and resident retention. Located less than one mile from Summerlin, the property offers convenient access to major employment centers including Southern Hills Hospital, St. Rose Dominican Hospital – San Martin Campus, the UnCommons mixed-use development, and the growing UNLV Tech Park. Average household incomes within one mile of the property exceed $112,000.
“Alicante fits squarely within our investment strategy — well-built suburban communities in markets with durable demand drivers, strong demographics, and attractive relative value,” said Zach Markell, Acquisitions Director at CONAM. “CONAM has been an owner and operator in Southern Nevada for decades, and this investment is a fantastic addition to our existing portfolio in the Las Vegas market.”

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NEW YORK, NY – Hawkins Way Capital, a vertically integrated real estate investment firm with over $3 billion in assets under management, along with joint venture partner Varde Partners, announce the acquisition of 81 E. 3rd St., a student housing property located in Manhattan’s East Village. Bought for $28 million, the off-market transaction marks a strategic addition to the growing FOUND Study student housing portfolio and expands the platform’s presence in one of New York City’s most sought-after neighborhoods.
Previously developed and operated as a privately owned student residence, the property features apartment-style layouts that offer an enhanced living experience, compared to traditional dormitory accommodations. Its flexible design also provides long-term optionality, with the ability to serve both student housing and conventional multifamily uses.
Located in the heart of the East Village, the property sits within one of Manhattan’s densest student populations and is in close proximity to major educational institutions, including New York University. The acquisition aligns with the joint venture’s long-term investment strategy of acquiring well-located urban student housing assets in markets driven by strong student demand, multiple academic institutions, limited housing supply, and long-term real estate value.
“The East Village has long been a market we have targeted, given its concentration of students, proximity to leading universities, and enduring real estate fundamentals,” said Ross Walker, Managing Partner, Hawkins Way Capital. “This acquisition expands our JV’s presence in one of Manhattan’s most dynamic neighborhoods and reinforces our strategy of investing in well-located urban student housing assets positioned to benefit from sustained demand.”
The acquisition further advances Hawkins Way Capital’s broader FOUND Study strategy, which provides high-quality, affordable housing options by way of acquiring well-located urban and select other assets that serve both students and academic institutions in markets with limited housing supply and strong long-term fundamentals.

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