HOUSTON, TX – Balfour Beatty Communities, a national residential real estate investment and management company, today announced the acquisition of Avanti Cityside, a 378-unit multifamily community located in Houston’s highly sought-after Texas Medical Center submarket. The transaction is Balfour Beatty s third investment in Texas over the last 18 months, following the acquisitions of River Pointe in Conroe, and The Leonard in Denton.
Avanti Cityside sits at the center of one of Houston’s most dynamic and resilient employment corridors, offering convenient access to the Texas Medical Center, Downtown Houston, Rice University, Hermann Park, and the Museum District. The community serves a diverse resident base drawn to the area’s concentration of healthcare, education, research, and professional employment opportunities.
Constructed in 2007, the community features 378 apartment homes with a mix of one-, two-, and three-bedroom floor plans and more than 362,000 square feet of rentable residential space. Residents delight in a range of amenities, including two swimming pools, a fitness center, clubhouse, business facilities, controlled-access entry, and landscaped outdoor gathering spaces.
“Avanti Cityside aligns exceptionally well with our investment strategy of acquiring well-located communities in strong growth markets where we can make additional value through thoughtful capital improvements and operational excellence,” said Lisa Dailey, Senior Vice President of Multifamily Acquisitions at Balfour Beatty Communities. “We look forward to building on the property’s strong foundation and delivering an exceptional living experience for residents.”
The acquisition adds a strategically located asset to Balfour Beatty Communities’ growing multifamily portfolio and strengthens the company’s presence in Texas. The Houston market continues to benefit from diverse economic drivers, while ongoing expansion and investment within the Texas Medical Center are expected to support sustained housing demand in the years ahead.
Avanti Cityside also presents a compelling value-add opportunity. Strong leasing of existing renovated apartment homes demonstrates robust resident demand for upgraded interiors and modern finishes. Balfour Beatty Communities intends to pursue targeted enhancements throughout the community designed to elevate the resident experience while supporting the property’s long-term performance.
“The combination of an established location, compelling market fundamentals, and future growth potential made Avanti Cityside an attractive investment for our team,” added Dailey.

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CHARLES, IL – Preservation Equity Fund Advisors (PEF Advisors), a real estate private equity firm focused on preserving existing affordable housing in high-cost markets, today announced the acquisition of Carroll Tower, a 108-unit affordable senior housing community in St. Charles, Illinois. This represents PEF Advisors’ third acquisition in the greater Chicago MSA.
Originally developed in 1984 as a Project-Based Section 8 community, Carroll Tower provides affordable housing for residents 62 years of age or older. Located approximately one hour west of Chicago, in one of the region’s most desirable suburban markets, the property helps meet the growing demand for affordable senior housing in Kane County, where rising housing costs continue to outpace supply.
The property consists of a six-tale residential building situated along the scenic Fox River in the heart of historic downtown St. Charles, adjacent to the iconic Hotel Baker. Carroll Tower features 108 one-bedroom units averaging 680 square feet. The property boasts several amenities including a community room, food pantry, laundry facilities, outdoor parking and elevator access, while also benefiting from walking distance to grocery stores, restaurants, retail and healthcare services. As of closing, the property was 98.1% occupied.
PEF Advisors plans to invest in capital improvements that will enhance the property, address deferred maintenance, and preserve Carroll Tower as a high-quality affordable housing community for current and future residents.
“This was an vital opportunity to preserve affordable housing as it was at risk of losing its affordability restrictions,” said Ann Caruana, President and Chief Investment Officer of PEF Advisors. “By restructuring the transaction and applying for a mark-up-to-market on the Section 8 contract during escrow, we were able to extend the affordability an additional 20 years. Our first course of business will be to restore services to the residents.”
Carroll Tower closed in July 2026 and represents PEF Advisors’ sixth acquisition for Preservation Equity Fund 3, continuing the firm’s strategy of acquiring and preserving existing affordable housing in supply-constrained, high-cost markets across the United States.

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MARIETTA, GA – Sagard Real Estate (SRE), a leading U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm, announced the acquisition of Belmont Place, a 326-unit Class A garden-style multifamily community located at 2825 Windy Hill Road Southeast in Marietta, Georgia.
Located in Atlanta s Cumberland/Galleria submarket, the acquisition expands SRE s multifamily portfolio and reflects the firm s continued focus on well-located rental housing communities in established suburban markets with durable demand drivers, strong employment access and favorable long-term fundamentals.
Built in 2004, Belmont Place consists of 12 residential buildings across a low-density 25.75-acre site. The community includes 326 one-, two- and three-bedroom apartment homes averaging approximately 1,055 square feet, along with ample parking. The property is currently 94% occupied.
Residences feature 9-foot ceilings, full-size washers and dryers, plank flooring, granite countertops, stainless steel appliances and private balconies. Community amenities include a resort-style pool, clubhouse, fitness center, game center, remote work lounge, tennis courts, outdoor courtyards and a car wash. SRE plans to pursue a targeted capital improvement program focused on select unit renovations and amenity enhancements.
Belmont Place is located approximately one mile from the I-75/I-285 interchange, 10 miles northwest of downtown Atlanta and 21 miles north of Hartsfield-Jackson Atlanta International Airport. The location provides residents with convenient access to major employment centers across the Atlanta metropolitan area, including Cumberland/Galleria, Buckhead, Midtown, Downtown Atlanta and Central Perimeter.
The surrounding area is supported by strong household demographics and a broad retail and entertainment amenity set. Belmont Place is located within close proximity to Cumberland Mall and The Battery Atlanta, a mixed-use destination anchored by Truist Park, as well as national grocers and retailers including Target, Kroger, Publix, Walmart and Costco.
Belmont Place is a compelling addition to our multifamily portfolio, combining scale, institutional-quality construction and a low-density site in one of Atlanta s most desirable suburban markets, said Matt DiVito, Managing Director, Acquisitions at Sagard Real Estate. The Cumberland/Galleria corridor benefits from strong demographics, deep employment access and limited directly competitive new supply, all of which support our long-term conviction in the property. We believe targeted upgrades will further enhance the resident experience while positioning the community for durable performance.
The acquisition aligns with Sagard Real Estate s strategy of investing in multifamily communities that serve a broad workforce renter base and are positioned to benefit from population growth, employment access, relative affordability and disciplined active management. Belmont Place further expands SRE s residential footprint in the Southeast and reinforces the firm s conviction in high-quality suburban rental housing within large, diversified U.S. growth markets. The transaction was facilitated by CBRE. The investment was made in partnership with McCann Realty Partners and Pegasus Residential. This is the third property managed by Pegasus Residential on behalf of Sagard Real Estate.

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