DALLAS, TX – ORIX Corporation USA announced that its Real Estate Investment Strategies team-operated subsidiaries have bought three multifamily properties totaling 1,029 units in Texas and Georgia. The transactions, representing approximately $200 million in aggregate value, expand ORIX USA s multifamily equity portfolio and reflect the firm s continued investment in residential real estate across the United States.
We are excited about these new investments and remain highly optimistic about opportunities to invest in multifamily properties across our target markets, said Alex Lizarazo, Managing Director and Head of Asset Management for ORIX USA s Real Estate Investment Strategies team.
The three investments outlined below demonstrate ORIX USA s ability to pursue multifamily equity opportunities across a range of investment profiles, from acquiring recently constructed assets below replacement cost to repositioning established properties through targeted capital investment and operational improvements.
The Kendrick – Atlanta, Georgia: ORIX USA bought the Kendrick, a 1998-built, 423-unit garden-style multifamily community located in Atlanta s Buckhead neighborhood, near major employment, retail and entertainment centers. The business plot includes capital improvements to modernize units and common areas.
Lookout – Dripping Springs, Texas: ORIX USA bought Lookout, a 241-unit multifamily community in Dripping Springs, outside Austin. Completed in 2025, the Class A+ Gurban property is a market leading best-in-class asset bought below replacement cost. ORIX USA plans to stabilize the property while investing in technology, amenities and other enhancements.
Vic at Jordan Ranch – Katy, Texas: ORIX USA also bought Vic at Jordan Ranch, a 365-unit, Class A garden-style multifamily community in Katy, Texas. The asset is stabilized and well located in the affluent Jordan Ranch master-plotted community, an area benefitting from continued growth and future development. The team will focus on targeted operational improvements that enhance property performance and long-term value.
These acquisitions underscore our continued focus on seizing compelling investment opportunities where our balance sheet strength, active ownership approach, and disciplined property-level execution can drive meaningful value creation, added Max Dobrushkin, Managing Director.
Established in the U.S. in 1981, ORIX USA is a diversified investment and asset management firm specializing in credit, real estate, private equity and managed solutions for middle-market borrowers and investors. ORIX USA and its subsidiaries use approximately 2,100 professionals and manage $43.5 billion in assets and commitments as of June 30, 2026.

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ATLANTA, GA – RangeWater Real Estate has bought Bell Buckhead West, a 280-unit, Class A multifamily community in Atlanta’s Buckhead neighborhood, through a joint venture with Heitman Investment Management. Bell Buckhead West further expands RangeWater’s presence in its hometown market and reflects the firm’s strategy of investing in high-quality communities where local market expertise, operating capabilities, and targeted improvements can unlock long-term value.
Built in 2015, the five-tale mid-rise community spans 5.56 acres and features studio, one- and two-bedroom residences with structured parking in one of Atlanta’s most established commercial and residential neighborhoods. RangeWater plans to implement a targeted interior renovation program and selective amenity upgrades to further enhance the resident experience. The property benefits from its location within a supply-constrained submarket characterized by strong employment drivers, connectivity, and sustained renter demand.
The acquisition was sourced off market through RangeWater’s longstanding relationship with the previous owner, Bell Partners, highlighting the firm’s ability to identify differentiated investment opportunities through deep industry relationships and local market expertise.
“Our investment process is built on recognizing leading indicators before they become broadly reflected in the market. By combining real-time market insights, deep industry relationships, and local operating expertise, we identified an opportunity with strong conviction, not only in the asset itself, but in the value we believe can be made through skilled execution of a thoughtful asset enhancement strategy,” said Brian Soss, Executive Managing Director of Acquisitions at RangeWater Real Estate.
The property offers convenient access to Buckhead, Midtown, Cumberland, Central Perimeter, and Downtown Atlanta via Interstate 75. More than 1.6 million square feet of medical office space is located within one mile of the community, including major Wellstar, Piedmont, and Emory-affiliated facilities, supporting a diverse employment base and long-term demand for high-quality rental housing.
RangeWater owns (and/or manages via RangeWater Residential) 9,744 units across the Atlanta MSA, including 2,140 units within a five-mile radius of the property, providing proprietary local market insights and operational advantages that support long-term value creation for residents and investment partners.

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SANDY SPRINGS, GA – Kennedy Wilson, a global real estate investment company, has partnered with Shimizu Corporation to develop Caldwell, a 382-unit luxury multifamily community in Sandy Springs, Georgia. The project marks Kennedy Wilson’s first multifamily development in Georgia and the first partnership between the two firms. Kennedy Wilson bought the 6.9-acre site that housed a former UPS office in late 2025 and started demolition this summer.
Located at 35 Glenlake Parkway NE, the project will redevelop the office property into a five-tale luxury residential community in one of Metro Atlanta’s most desirable submarkets. The community will feature 382 residences averaging 937 square feet, more than 17,500 square feet of indoor and outdoor amenities, and convenient access to Atlanta’s major employment centers, retail destinations and transportation corridors.
“Our acquisition of Caldwell is an exciting milestone for Kennedy Wilson as we expand our multifamily development platform in Georgia and establish our first partnership with Shimizu,” said John McCullough, President, Multifamily Development Group at Kennedy Wilson. “Caldwell offers exceptional long-term fundamentals, driven by strong employment growth and an affluent resident base with limited new multifamily supply. By transforming an underused office site into a thoughtfully designed residential community, we are maximizing the utility of the land and making much-needed housing in one of Atlanta’s most desirable metros.”
We re incredibly proud to start our first partnership with Shimizu. What makes this venture especially meaningful is the friendship and trust we ve built along the way, and we re honored to be their partner and steward of this investment, said Robert Miyajima, Senior Vice President at Kennedy Wilson. We look forward to growing together for many years to come, both through this partnership and Kennedy Wilson s broader commitment to Japan.
“Caldwell represents an exciting opportunity for Shimizu to expand its presence in the U.S. and provide high-quality residential solutions,” said Satoshi Arai, President of Shimizu Realty Development (U.S.A.), Inc. “We value this inaugural partnership with Kennedy Wilson, leveraging their proven expertise in identifying and capitalizing on the potential of high-growth markets like Sandy Springs. By developing a high-quality residential community, we are making meaningful value for the local community​. We believe that this project will be a significant addition to the neighborhood and is well-positioned to thrive.”
The development underscores Kennedy Wilson’s continued focus on expanding its multifamily platform in high-growth markets with strong long-term fundamentals. Sandy Springs has experienced significantly less multifamily supply growth than the broader Atlanta metropolitan area in recent years, supporting sustained rental demand and reinforcing the area’s long-term investment appeal.
The approximately $139 million development is expected to welcome its first residents in 2028. New South Construction will serve as general contractor, Dynamik Design as architect and PEC+ as civil engineer.

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