SAN ANTONIO, TX – Avia Equities announced that it has bought Blair at Bitters, a 190 unit garden style multifamily community located in San Antonio, Texas.
The acquisition of Blair at Bitters represents a strategic expansion of Avia s footprint in Central Texas and aligns with the firm s focus on well located, attainable housing in high growth markets. The business plot includes targeted interior and exterior renovations, and upgrades to common areas and amenities, with the goal of enhancing the current and future resident experience while participating in the continued improvement of the San Antonio real estate market.
San Antonio remains one of the country s most dynamic large metros, supported by steady population growth and a diversified employment base in sectors such as healthcare, defense, finance, cybersecurity, and hospitality. In recent years, the metro has added tens of thousands of new residents and maintained an unemployment rate below both the Texas and U.S. averages, reflecting resilient labor market conditions and sustained in migration.
We are excited to add Blair at Bitters to the Avia portfolio and to establish our presence in the San Antonio market, said Mike Mortazavi, Founder of Avia Equities. This community offers strong fundamentals, an brilliant infill location, and a clear value add path through thoughtful renovations and hands on management. We view this acquisition as the first of many investments in San Antonio and look forward to being a long term partner in the city s growth.
Blair at Bitters features a mix of one and two bedroom floor plans, onsite parking, and community amenities consistent with other high quality suburban multifamily properties in the market.
The acquisition was leveraged with Freddie Mac financing.

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REHOBOTH DEACH, DE – REDICO and Ciel Senior Living have formed a joint venture to design and build a new senior living community in Rehoboth Beach, Delaware. The project signals renewed confidence in developing and financing new senior housing communities while helping meet the growing demand for high-quality senior living options throughout Sussex County and the surrounding region.
The partnership brings together REDICO’s experience as a developer, investor and owner of senior housing communities with Ciel Senior Living’s operating platform. Under the joint venture, REDICO will lead development and investment strategy, with Ciel serving as the operating partner for the community.
“Our involvement in this project and our ability to attract financing necessary to make it possible reflects renewed investor interest in this industry,” said Dale Watchowski, CEO of REDICO and American House Senior Living. “This project also reflects REDICO’s broader senior living development strategy, which combines institutional capital, experienced operating partners and targeted market expansion in high-demand markets.”
The project is one of several new senior living communities that REDICO and its affiliate, American House, are plotting to open over the next several years across several states in the Midwest and on the East Coast.
The project also marks an vital milestone for Ciel Senior Living, a rapidly growing senior housing operating and development platform that currently manages more than 3,000 units across 20 communities in 10 states and continues to expand through strategic operating, acquisition and development partnerships nationwide.
“This is more than the start of a construction project – it is the realization of a vision,” said Edward Burnett, Co-Founder of Ciel Senior Living. “Rehoboth Beach has long been a destination known for its quality of life, vibrant culture and strong sense of community. We are honored to bring a senior living experience that reflects those qualities while making an environment where older adults can continue to live with purpose, connection and confidence.”
Upon completion in 2028, Ciel of Rehoboth will feature 144 thoughtfully designed luxury suites offering Independent Living, Helped Living and Memory Care. Inspired by the beauty and character of Delaware’s coastal heritage, the campus will combine elegant design, resort-style amenities, exceptional dining, engaging programming and personalized wellness and care services tailored to each resident’s individual needs.
“From the resident experience to the design of the community itself, every aspect of Ciel of Rehoboth has been thoughtfully plotted to foster connection, promote well-being and deliver the elevated hospitality that defines the Ciel brand,” said Alexis Martini, President and Chief Operating Officer of Ciel Senior Living.
As Delaware’s senior population continues to grow, the need for sophisticated, service-rich senior living options has never been greater. Through their partnership, REDICO and Ciel are meeting that need with a thoughtfully designed community that will enable residents to age in place while enjoying an active, fulfilling lifestyle supported by hospitality-driven services and compassionate care.

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HOBOKEN, NJ – Rockpoint, a Boston-based real estate private equity firm, and Urby, a hospitality-driven multifamily developer, announced the formation of a joint venture to buy land and develop a multifamily residential tower on the Jersey City Waterfront. Urby will co-manage construction and development, and also oversee property management and leasing alongside Rockhill, Rockpoint’s property services affiliate.
The 69-tale building, which will be called 201 Hudson – by Urby, will comprise 748 market-rate studio-, one-, two-, and three-bedroom apartments. The project will also include approximately 10,000 square feet of retail space and 102 surface parking spaces. 201 Hudson – by Urby is the second phase of a three-tower multifamily development master plot.
The building is located in the highly desirable Jersey City Waterfront submarket, offering a lively neighborhood atmosphere and exceptional connectivity within the Tri-State area. The Grove Street and Exchange Place PATH stations and the Harborside Ferry terminal are a small walk away, putting Manhattan at a 10-minute commute from the front door. Residents will also have convenient access to the Harborside Light Rail, which stops right outside the building, as well as I-78 and the Holland Tunnel.
“The Jersey City Waterfront continues to distinguish itself as one of the most compelling multifamily submarkets in the New York metro area, driven by strong demographic tailwinds, significant public and private investment, and exceptional transportation access to Manhattan,” said Dan Domb, a Managing Member and COO at Rockpoint. “We are excited to partner with David Barry and his team who we believe are some of the most talented and creative developers in the business.”
Residents will have access to a robust suite of lifestyle-oriented amenities, including a resort-style pool with views of the Manhattan skyline, parlor and garden rooms, a state-of-the-art fitness center, dog run, children’s play area, roof deck, and Class A finishes throughout. Many of the units will have stunning views of the Manhattan skyline and the Hudson River.
“201 Hudson – by Urby continues our vision of making engaging, design-driven residential communities on the Jersey City Waterfront,” said David Barry, Founder and CEO of Urby. “We are pleased to have Rockpoint join the project as we deliver the next chapter of this three-tower development and continue to contribute to the ongoing growth of Jersey City.”
Rockpoint has a longstanding history of investing in the residential sector and has closed on or committed to 146 residential investments since 1995, inclusive of investments made at its predecessor, comprising approximately 100,000 multifamily units. In addition to 201 Hudson – by Urby, the firm’s Jersey City investments also include The Morgan Provost Square, a Class A Jersey City Waterfront community; The Declan, a ground-up luxury development in the Port Imperial submarket; and Embankment House, a stabilized Class A community in the Hamilton Park neighborhood of Jersey City.
Newmark’s Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger and Managing Director Michael Collins advised both Urby and Rockpoint on the transaction.
The project team includes New York-based architects HLW; Concrete Amsterdam, the Dutch studio behind citizenM and other globally recognized hospitality concepts; interior designer Shawn Hausman, known for award-winning hospitality and lifestyle developments; and landscape architect Bas Smets, whose practice is responsible for the reimagined grounds of Notre-Dame Cathedral in Paris as well as LUMA Arles and the Mandrake Hotel in London.

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