DALLAS, TX – Waterford Property Company, The Vistria Group, and Northern Liberties, in partnership with the Dallas Housing Finance Corporation (DHFC), announced the acquisition of a 395-unit class A multifamily community located at 8169 Midtown Blvd. in Dallas.
The joint venture bought the property, known as Domain at Midtown Park, and at the same time entered into a long-term ground lease with the DHFC. With this acquisition, the owners will immediately restrict rents for new qualified residents to make stable workforce housing as part of an agreement with DHFC in exchange for 100 percent property tax abatement for 99 years.
“Core to our investing and impact philosophy is that making more affordable housing is a crucial element in building more resilient households and vibrant communities, said Margaret Anadu, Senior Partner and Head of Real Estate at The Vistria Group. We are thrilled to partner with Waterford Property Company and Northern Liberties to ensure housing is affordable at Domain for years to come and look forward to working alongside our community partners to deliver essential services to our residents.”
Made by the City of Dallas in 1984, DHFC provides tax-exempt mortgage revenue bonds and other support for the acquisition, construction, or substantial rehabilitation of multifamily housing as part of Dallas department of housing and neighborhood revitalization.
Through this acquisition, Waterford is continuing its mission to pursue innovative essential housing solutions. We ve worked diligently over the last few years in California to build a portfolio of workforce-focused housing using a creative approach to lower costs for residents impacted by the high cost of living. Now we re able to focus on a similar much-needed solution in Texas with our partners and the City of Dallas, said Waterford Co-Founder John Drachman.
Northern Liberties entry into the Dallas market highlights our investment thesis to buy well-located assets in high-growth markets where we can make or preserve workforce and affordable housing. Our mission is to make housing stability while providing year-round services that empower our residents. By acquiring properties, investing in people, and making community, people prosper, said Northern Liberties Co-Founder and CEO Sharif Mitchell.
As Dallas has experienced strong growth over the past 10 years, its rents have continued to climb, like many across the country, and the city is dealing with affordability issues. The cost of housing has gone up as much as anywhere in the United States and police, teachers and other essential workers are the ones who are at risk. This is just the beginning of our focus on Texas and the opportunity to be part of the solution to bring more affordability into the market, said Waterford Co-Founder Sean Rawson.
Domain at Midtown Park was built in 2016. The community is located within the suburban neighborhood of Lake Highlands in Dallas, strategically positioned in the commercial district of Midtown Park. The property offers an abundance of amenities including clubhouse, fitness center, business center, BBQ grill area, outdoor lounge, cabana/pergola, dog park, and resort-style pool, storage units and a golf simulator.
The community s current tenant base is comprised primarily of moderate-income workforce employees and families. As noted, the joint venture will restrict rents at the property setting aside 51 percent of the units for residents who make 80 percent average median income (AMI), 39 percent of the units for families who make 140 percent AMI, and 10 percent of the units at market rate.
Freddie Mac through Walker & Dunlop provided debt for the transaction.

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PEARLAND, TX – Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of Discovery at Shadow Creek Ranch apartment community in the growing Houston suburb of Pearland, Texas. With this acquisition, Knightvest now owns an active portfolio of over 35,000 units, firmly establishing itself as one of the largest apartment owners in the United States.
Originally built in 2010, the 347-unit apartment community features spacious garden-style buildings. Knightvest plans to renovate and reposition the property by updating unit interiors with contemporary finishes to meet the demands of modern residents. Additionally, Knightvest plans to enhance the property’s amenities, including an expansion and renovation of the fitness center, pool, and clubhouse. As part of the modernization efforts, Knightvest will rename the community to Barron Park.
“Over the last decade, we’ve quietly grown to become one of the largest multifamily owners in the country by delivering dependable results driven by our consistent ability to identify underperforming properties and transform them into modern communities that compete with new construction,” said David Moore, Knightvest Founder and CEO. “Once again, our talented team has identified a compelling opportunity with the Barron Parkcommunity with the buy price significantly below the replacement cost.”
The Houston suburb of Pearland, Texas, faces a limited supply of high-quality multifamily housing options and no remaining multifamily sites available to develop. At the same time, it’s experiencing growing demand given its proximity to the world’s largest medical center with $5 billion in new development underway at the Texas Medical Center. The growing area boasts top-tier school districts, strong proximity to major employers, and a robust economy.

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SAN ANTONIO, TX – Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced it has sold BLVD at Medical Center, a 248-unit apartment community in San Antonio. The firm bought the property in June 2016, and after instituting a comprehensive capital improvement program, closed the sale on March 19.
Hamilton Zanze’s successful renovation efforts included upgrades to the apartment homes, building exteriors, common-area amenities and landscaping. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently.
“We are very pleased with the disposition of BLVD at Medical Center,” said Anthony Ly, Senior Director of Transactions at Hamilton Zanze. “As we always aim to do, we were able to add value and optimize the living experience through the strategic execution of a capital improvement program and a commitment to outstanding resident service. As a result, the community performed well, made a strong cash flow and delivered targeted returns to our investors, and was also a sought-after asset on the for-sale market.”
Situated at 4980 USAA Boulevard approximately 13 miles northwest of Downtown San Antonio, BLVD at Medical Center was built in 2016 and features one-, two- and three-bedroom units with an average size of 776 square feet. Apartment features include stainless steel appliances, walk-in closets, granite countertops and full-size washers and dryers. Community amenities include a resort-style pool, yoga studio, 24-hour fitness center, outdoor kitchen, playground, e-lounge/business center and valet trash service.
BLVD at Medical Center is located next to a protected greenbelt and offers simple access to Interstate 10 and Loop 410. The community also is near many of the area’s major employers, including the global headquarters of USAA, South Texas Medical Center, Valero Energy and the University of Texas at San Antonio.
The sale represents Hamilton Zanze’s third disposition in 2024. The firm has sold over $4 billion in multifamily properties since its founding in 2001.

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