DUBLIN, CA – Cityview, a premier multifamily investment management and development firm, has bought Tralee Village Apartments in Dublin – California s fastest growing city. The three-tale, 130-unit multifamily project is spread across two buildings and sits above more than 30,000 square feet of curated ground-floor retail, including eateries and service-focused shops.
Tralee Village was a prime opportunity to buy a well-located, high-quality asset in a highly sought-after submarket that has experienced significant population and employment growth since the pandemic, said Sean Burton, CEO of Cityview. With a 95% average historical occupancy and robust market fundamentals, Tralee Village fits squarely in our strategy of acquiring communities in supply constrained markets with high barriers to entry at significantly below replacement cost.
Originally built in 2011, the community offers spacious one-, two- and three-bedroom floorplans featuring open concept layouts, in-unit washers and dryers, granite countertops, USB outlet ports, modern custom-wood cabinetry in two styles, central heat and air, large closets, 9-foot ceiling heights and stainless-steel appliances. Select units also feature vaulted ceilings, floor-to-ceiling windows and large balconies.
Cityview is plotting a comprehensive renovation of the interiors and common areas, including new unit flooring, lighting, kitchen and bathroom countertops and accessories.
Tralee Village residents have full access to community amenities including ground-floor retail, a resort-style pool and spa, high-end fitness center, clubhouse, business center, courtyard and BBQ area, playground, parcel lockers, bike storage and ample garage parking.
Located at 6599 Dublin Boulevard, Tralee Village is ideally located in the Tri-Valley, which is increasingly recognized as the Bay Area s premier business ecosystem. Its centrally accessible location, relatively affordable office rents and highly educated workforce continues to attract innovative start-ups and well-established companies including 10X Genomics, Chevron, Workday, Oracle, Tesla, General Electric, SAP, Snowflake, TriNet and Accenture.
Combining urban conveniences with suburban comforts, Dublin is located just 35 miles east of San Francisco and features highly rated public schools, 24 community parks, nearly 800 acres of open space and a wide array of cafes, restaurants and shops. The city is currently undergoing a vast mixed-use and pedestrian-oriented transformation as the Downtown Dublin Preferred Vision comes to fruition.
With a 58% population increase from 2010 to 2020, and 10,000+ new residents expected by 2033, Dublin s multifamily market is experiencing growing demand and shrinking supply, making this a prime area for investment, added Burton. We look forward to reimagining Tralee Village and elevating its design, finishes and amenities to rival new Class A communities.
Conveniently situated at the intersection of I-580 and I-680, Tralee Village residents have simple access to the West Dublin/Pleasanton BART station as well as the nearby employment hubs of Silicon Valley, San Francisco, Oakland, Berkeley, Walnut Creek and the Peninsula.
Jason Parr at Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.

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CONSHOHOCKEN, PA – Morgan Properties, the nation s largest private owner of multifamily communities, announced that it has bought an 11-property portfolio of apartments located throughout the state of Pennsylvania from the original developer and owner – The DePaul Management Company.
Totaling 3,434 units in the suburbs of Philadelphia and Pittsburgh, the Lehigh Valley, Reading, and the state capital of Harrisburg, this acquisition significantly increases Morgan Properties presence in its home state. Morgan Properties now owns and manages over 14,000 units and 56 communities in Pennsylvania, and 350 communities nationwide.
“As Morgan Properties continues to expand its national footprint, we remain deeply committed to our Pennsylvania roots,” said Jonathan Morgan, President of Morgan Properties JV. “The DePaul acquisition directly supports our strategic goal of acquiring large multifamily portfolios with high barriers to entry where our market concentration will enable us to achieve operational efficiencies and capitalize on economies of scale. We look forward to maximizing these assets through our professional management expertise and executing our value-add repositioning strategy.”
Morgan Properties plans to invest over $80 million in physical upgrades to the communities over the coming years to enhance the resident experience. Capital plans will address kitchen, bath, and common area renovations, installation of in-unit washers and dryers, lighting, security, and landscape improvements, roof replacements and parking lot repairs, and the installation of high-efficiency heating systems. Additionally, amenity and common area enhancements will include fitness center upgrades and expansions, installation of exterior dog parks and pet wash stations, Amazon package hubs, playgrounds, pickleball courts, and outdoor grilling islands.
Morgan Properties maintains a strategic and opportunistic approach to our acquisitions, said Jason Morgan, President of Morgan Properties Special Situations and Principal. Our team utilizes proprietary data from our existing portfolio to make calculated bets on where to invest and the DePaul portfolio is located in high-density submarkets where we have a track record of success. We look forward to executing our operational and capital improvement programs to make an exceptional living experience for the thousands of residents who call these communities home.
Matthew Stefanski and Zachary Pierce of Berkadia’s Philadelphia Office brokered the transaction.

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DALLAS, TX – Toll Brothers Apartment Living, the rental division of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, in partnership with Equity Residential, announced the opening of Lyle. Located at 17727 Addison Road in Dallas, Texas, this new community features 334 apartment residences and an immersive collection of amenities and offers convenient access to exciting destinations in Dallas and beyond. Lyle s construction, financed by a $55.6 million construction loan from Santander Bank, N.A., commenced in 2022.
Lyle s apartment homes were crafted to make a serene, chic retreat and include a mix of spacious studio, one-, two-, and three-bedroom floor plans. The residences are replete with sophisticated features and finishes, including kitchens with quartz countertops and tile backsplashes, modern flat panel cabinetry, and hardwood-style flooring in the living areas. Residents will find homes designed to exceed their expectations, with features including custom roller shade window treatments and oversized closets with built-in storage and shelving. In addition, each apartment home is outfitted with smart home technology, including keyless entry and smart thermostats. Select residences also include private balconies, terraces, or fenced-in yards.
Lyle s upscale amenities include options for both social gatherings and individual pursuits. Outdoor spaces include a luxury resort-style pool with sundeck and a courtyard with lounge seating, ping pong, and lawn games. The sky lounge with connecting outdoor terrace offers an entertainment kitchen, lounge seating, and expansive city views. Residents can support their active lifestyles with Lyle s fitness center, with state-of-the-art strength and cardio equipment as well as flex studios. An immersive coworking lounge, featuring a Starbucks Serenade coffee bar, provides residents with both private options as well as conference room space. The community was constructed to meet LEED Gold certification standards, and the parking garage includes EV charging stations.
We are thrilled to open our newest luxury community in Dallas with Equity Residential, said John McCullough, President of Toll Brothers Apartment Living. The Dallas market continues to be a hub for tremendous growth, and Lyle represents our continued commitment to delivering first-class multifamily communities in highly desirable locations.
Striking a balance between urban and suburban, Lyle is perfectly positioned with simple accessibility to the Dallas North Tollway. Residents can explore the diverse dining, shopping, and entertainment options of North Dallas, while only a small drive to the best of both downtown and the surrounding area. Lyle is located in the highly rated Plano Independent School District and boasts a WalkScore® of 71.
Lyle s sophisticated design offers an elevated living experience to residents, and its premier location affords simple access to both the lifestyle destinations as well as the major employment centers of Dallas and beyond, said Tommy Rhodus, Managing Director of Toll Brothers Apartment Living in the Central region.
Lyle is one of three new communities opening in Texas this year as part of a strategic development partnership between Toll Brothers Apartment Living and Equity Residential.

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