PORTLAND, OR – Virtú Investments, a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States, announced the acquisition of Kearney Plaza, a 131-unit market rate multifamily property in the Pearl District of Portland, Oregon. The buy price was approximately $33 Million, representing a discount of approximately 50% to today s estimated replacement cost, and a 10% discount to the seller s buy price in 2011.
Portland’s continued economic growth and limited supply of high-quality multifamily properties make the Kearney Plaza acquisition a rare opportunity in Portland s competitive real estate landscape. While late to reemerge from Covid-19, Virtú Investments considers the Portland market to have immense potential for sustained rent growth in the years ahead. The market is entering a low-supply era for apartments, with no new multifamily projects breaking ground since Q4 2022 while demand continues to rise.
“We are confident in Portland’s long-term prospects and believe that Kearney Plaza will deliver strong returns for our investors while contributing positively to the community,” said Michael Green, CEO of Virtú Investments. We are entering an extremely attractive investing environment for multifamily in specific markets like Portland, where valuations are beginning to represent a once-in-a-decade entry point, particularly for credit-worthy borrowers with access to quality lenders. We believe this is the beginning of a new market cycle with significant potential for producing long-term value for our portfolio.

Powered by WPeMatico

ARVADA, CO – CVS Health announced it has invested $19.2 million through Boston Financial to build 85 new affordable housing units in Arvada, Colorado. Made possible through the company’s collaboration with Family Tree and BlueLine Development, the investment demonstrates CVS Health’s commitment to improving the health of individuals across the country, which starts with providing access to quality, safe, affordable housing, especially in historically underserved communities.
“A critical component to improving an individual’s health and well-being is access to quality, safe, affordable housing,” said Frank J. Benedetto, Regional Director, Sales and Account Management at Aetna, a CVS Health company. “Through the development of Marshall Street Landing, unhoused residents will have supportive housing, that provides access to the vital resources they need to maintain stability, make positive changes, and ultimately lead healthier lives.”
Construction of the development, known as Marshall Street Landing, is currently underway and will provide a permanent supportive housing community for families and individuals experiencing homelessness. All participants will receive Project Based vouchers and have access to robust supportive services dedicated to educating and assisting residents with ending the cycle of homelessness and helping them to remain in stabilized housing.
The Jefferson Center for Mental Health will offer mental health and substance use counseling, while Family Tree will provide trauma-informed case management, advocacy, information and referrals, crisis help and on-site life-skills educational programming.
“Marshall Street Landing is a testament to what we can achieve when we come together with a shared vision of compassion and inclusivity,” said Dontae Latson, CEO of Family Tree. “Permanent supportive housing is not merely a place to live; it is a foundation for life. It offers individuals and families who have faced homelessness or disabling conditions not just shelter, but a community and a sense of belonging.”
Following its completion in Summer 2025, each unit at Marshall Street Landing will be fully furnished and feature a range, refrigerator, air conditioning, luxury vinyl floor, window coverings, and carpeting. Additional property amenities will include a community kitchen, common and laundry rooms, on-site management, a picnic area, playground, community garden, parking, 24-hour front desk coverage, and controlled access to the property.
CVS Health’s investment in Marshall Street Landing is a local demonstration of the company’s longstanding commitment to advancing health equity by addressing housing insecurities in communities across the country. In the past five years, CVS Health has made investments nationally to make or preserve and renovate more than 22,600 affordable rental units, including 14,300 for families and 5,800 for seniors. In addition, these investments have helped make nearly 2,500 permanent supportive housing units for veterans, LGBTQ+ individuals in need of support, those experiencing homelessness, single-parent households, victims of domestic violence, youth aging out of foster care, those with physical, intellectual, and/or developmental disabilities, those in need of mental health or substance abuse support, Second Chance participants, victims of human trafficking, and other groups that may be facing challenges in their lives.
To date, CVS Health has invested over $43 million to make, preserve and renovate over 2,100 affordable and supportive housing units throughout Colorado. Through the company’s investments and collaborations with vision-aligned developers and service providers, CVS Health has been able to provide quality housing and increased access to health care services based on the unique needs of the regional population.

Powered by WPeMatico

INDIANAPOLIS, IN – Gray Capital announced the acquisition of Regency Club Apartments, a 444-unit class B apartment community located in Evansville, IN. The property was built in two stages in the 1980s with additional townhomes built in 2006.
Gray Capital’s strategy with the property involves an immediate rebrand as River Club Apartments, with over $3 Million in exterior improvements and interior renovations to enhance the property and make an exceptional, elevated living experience that will continue to attract residents. Additionally, River Club will be managed by Gray Capital’s property management company, Gray Residential, with an experienced team ready to do Gray Capital’s strategy for the asset on day one.
“This property was the ‘lifestyle’ apartment community—the place to be for young professionals —when it was first built. While the property has maintained a excellent reputation, we are excited to not only continue the legacy but to bring River Club to the next level for residents.”
River Club is Gray Capital’s fourth apartment asset in the Evansville area. With two full-cycle multifamily investment projects completed in the Evansville area that have delivered exceptional returns for investors as well as one active investment, Gray Capital’s experience and confidence in the Evansville market is a powerful driver of River Club’s success.
Gray Capital’s acquisition of River Club comes after a year of lower activity in the multifamily market as a whole and for Gray Capital specifically, but interest rate stability, investor interest, and the growing emergence of attractive apartment properties in the investment sales market has Gray Capital far more optimistic this year.
“River Club is easily the most attractive multifamily acquisition opportunity the firm has seen in over 2 years. We are buying the property at an incredible basis discounted over 30% from the market peak. This market has not been an simple one to navigate, but I give full credit to the Gray team for avoiding many potential pitfalls and excelling in a challenging environment.”

Powered by WPeMatico