ATHENS, GA – CP Capital, a leading U.S. real estate manager specializing in multifamily investments, announced the acquisition of Ascent Athens, a 200-unit, Class A garden-style multifamily community located in Athens, Georgia, currently operating at 95% occupancy. The acquisition reflects CP Capital s strategy of turning insights into opportunities, which includes selective ground-up development allocations and the targeting of best-in-class multifamily assets at a discount to replacement cost in supply-constrained, demand-resilient submarkets.
The community is anchored by the University of Georgia, a 43,000-student institution with 11,500 faculty and staff that generates $8.4 billion in annual economic impact for the state, providing a degree of fiscal stability and durable demand. The investment also benefits from a diversifying local employment base and near-term supply constraints. Developed by Westplan in 2020, the fully-amenitized property offers residents a pool, fitness center, clubhouse, and business center.
Ascent Athens represents exactly the kind of opportunity we look for: the highest quality multifamily asset in the submarket, with no like-and-kind competition. The surrounding product consists predominantly of broke townhomes and older vintage, non-institutional multifamily with deferred maintenance and inferior finishes. As a newly built Class A community, Ascent is in a category of its own, giving it significant pricing power and the ability to attract the submarket’s most creditworthy renters. This lack of direct competition insulates the asset from heavy competitive pressure and supports rent growth assumptions throughout the hold, says Jay Remillard, Executive Managing Director at CP Capital. This acquisition allows us to enter a stable market at a compelling basis while positioning the property for meaningful value creation over our hold period.
CP Capital and its equity partners will season the asset into an institutionally managed, proven income-producing property positioned for a clean exit in the coming years. The investment also demonstrates the firm s dedication to tailoring its strategies to current market cycles. Distressed inventory is growing. Maturing loans and broke partnerships are making opportunities to buy high-quality assets below replacement cost, with equity built into the basis from day one, said Paul Doocy, Senior Managing Director at CP Capital.
The acquisition of Ascent Athens underscores our team s highly effective approach to multifamily investing. We re building a portfolio of well-located assets in supply-constrained markets with steady long-term fundamentals, all based on disciplined underwriting and strong conviction.

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COLUMBUS, OH – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, announced the groundbreaking of Stone Ridge at High Street, a 150-unit affordable housing community located along South High Street in Columbus, Ohio. Developed in partnership with the City of Columbus and the Ohio Housing Finance Agency, the project will provide much-needed housing for working professionals and families earning up to 60% of the Area Median Income (AMI).
Stone Ridge at High Street is a direct investment in South Columbus and builds on nearly 15 years of work we ve done in the city, said Aaron Pechota, Executive Vice President of Development at The NRP Group. For years, this property sat vacant, despite its proximity to downtown Columbus and some of the city s strongest employment centers. Together with city officials and our financing partners, we are transforming a distressed site into a community that will provide stable, high-quality housing for families and working professionals while supporting the continued growth and revitalization of the South Side.
Stone Ridge at High Street will feature two five-tale buildings on a 4.5-acre site, each featuring a mix of one-, two-, three- and four-bedroom apartments designed to accommodate families of varying sizes.
Located at 45 W. Barthman Avenue, approximately one mile from downtown, the community provides ample public transit within the South High Street corridor, one of the city’s primary transportation arteries. The development offers proximity to ample shopping and dining destinations in downtown Columbus, and is located near job centers and major employers in German Village and the Brewery District. The Nationwide Children’s Hospital and the growing Southern Gateway district are just minutes away.
The community will be erected near the historic Hart Road Quarry, the last remaining vestige of the South Side s once-thriving network of limestone and gravel quarries. Today, the former industrial landmark has been transformed into a birding oasis for waterfowl, reflecting the broader evolution and continued reinvestment taking place throughout the neighborhood.
Public-private partnerships are essential to the success of the Columbus Housing Strategy, and Stone Ridge at High Street demonstrates what can be accomplished when city leaders, financial institutions and private developers work together with a shared vision to improve the lives of Columbus residents, said Columbus Mayor Andrew J. Ginther. As Columbus continues to grow and prosper, we are making significant investments to ensure that every neighborhood shares in that success. Projects like this are building on the strengths of neighborhoods that have historically seen too small investment while making affordable housing opportunities for working families.”
Designed with families in mind, Stone Ridge at High Street will offer a range of amenities that promote wellness, connection and safety. Residents will have access to a clubhouse and multipurpose community room with a kitchen for gatherings and events, as well as outdoor amenities including landscaped courtyards and a playground.
Development and financing partners include Huntington Bank, which provided debt and equity financing, along with support from the City of Columbus and the Ohio Housing Finance Agency.
We are proud to support Stone Ridge at High Street and help bring high-quality, affordable housing to the Southside of Columbus, making new opportunities for residents and contributing to the neighborhood s continued growth, said Andrew Hugger at Huntington Bank.
The development was financed by Deutsche Bank, which provided both construction and permanent financing for Stone Ridge at High Street.
Stone Ridge at High Street builds upon The NRP Group s commitment to Columbus and Central Ohio. Headquartered in Cleveland, the company has delivered transformative developments in Central Ohio, including Parsons Village Senior Apartments, the Residences at Career Gateway and most recently, The Lofton. Across Ohio, The NRP Group has developed more than 5,000 rental homes since 1994.
Construction of Stone Ridge at High Street is now underway, with completion scheduled for April 2028.

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ATLANTA, GA – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation s leading multifamily developers, announced the development of Avira at Silver Comet Trail, a 319-unit multifamily community in the Atlanta suburb of Powder Springs. Construction is underway with resident go-ins expected to start in October 2027.
“Avira at Silver Comet Trail exemplifies the thoughtful, lifestyle-focused development that continues to drive our growth across the Southeast,” said Josh Purvis, managing partner at Thompson Thrift Residential. With direct access to one of Georgia’s premier recreational trails and convenient connections to employment, shopping and entertainment, this community will offer residents an exceptional place to call home.”
Located at the southeast corner of Highway 278 and Isley Stamper Road, the community will offer convenient access to downtown Powder Springs, major retail destinations, healthcare providers and employment centers throughout the Atlanta metropolitan area. The site is adjacent to the Silver Comet Trail, a 61.5-mile multiuse trail that spans Cobb, Paulding and Polk counties and provides opportunities for walking, running and cycling.
“Powder Springs continues to demonstrate the strong fundamentals we seek when selecting new development opportunities,” said Jesse Houghtalen, senior vice president of development at Thompson Thrift. “Steady population growth, expanding employment opportunities and convenient regional connectivity make this an outstanding market to deliver a community that will serve residents for years to come.”
Avira at Silver Comet Trail will feature a mix of one-, two- and three-bedroom apartment homes in three- and four-tale buildings with premium interior finishes designed to provide a modern living experience. Residences will include quartz countertops, stainless-steel appliances, tile backsplashes, hardwood-style flooring, full-size washers and dryers, large walk-in closets, smart-home technology and private patio, balcony and yard options.
The community s amenity package is designed to encourage both active lifestyles and social connection. Residents will delight in direct walk and bike access to the Silver Comet Trail, along with a resort-style swimming pool, fitness center, thoughtfully designed courtyards, pickleball court, dog park and pet spa. Additional outdoor features will include a basketball court and a nature-inspired children’s play area featuring organic play elements. Residents will also have access to community gathering spaces, grilling areas, coworking focus suites, billiards, shuffleboard, and other lifestyle-focused amenities.
The Powder Springs location offers proximity to major employment hubs throughout northwest Atlanta, including the Westside Logistics & E-Commerce Industrial Corridor, which supports more than 28,000 jobs, as well as Wellstar Paulding Medical Center and Wellstar Cobb Medical Center. Residents will also delight in convenient access to shopping, dining and entertainment destinations throughout Cobb County.
The development will be capitalized with equity from the Thompson Thrift 2026 Multifamily Development, LP.
Over the past 40 years, Thompson Thrift has invested billions of dollars into local communities nationwide and has become known as a trusted partner engaged in all aspects of development, construction, leasing and management of high-quality real estate projects across the country.

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