DALLAS, TX – Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of the Dorian Apartments, formerly known as the Tribeca Apartments. Situated in the coveted Legacy area of DFW, this 398-unit apartment community marks the latest strategic addition to the Knightvest portfolio.
The Dorian Apartment community was built in 2008 and features a mix of three and four-tale structures across nine buildings, with units boasting an average of 910 square feet.
“With its strategic location, the Dorian Apartments fit seamlessly into our vision of acquiring institutional quality assets and transforming them into design-driven residential communities,” said David Moore, Knightvest Founder and CEO. “Our team is excited by this latest acquisition as we work to provide a high-quality alternative to new construction in this sought-after market.”
The community’s corridor spans Plano, Frisco, McKinney, and Allen cities experiencing an average population growth of over 50% in recent years. With Plano’s growth accompanied by the development of over 14.8 million square feet of Class A office space, the area has become a thriving live-work-play community.
Knightvest Capital closed the acquisition in December 2023 and plans to enhance the property by renovating unit interiors and property amenities, including the fitness center, pool area, and clubhouse.
“Our acquisition of the Dorian Apartments is another fantastic example of how we’re executing our value-add strategy to deliver dependable results to investors, residents, and employees,” concluded David Moore.

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PEORIA, AZ – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, announced that it has broken ground on Marlowe Peoria Place, the latest Marlowe-branded apartment community. Located west of Grand Ave. and south of Monroe St., this new community is part of Greystar’s master plot for Peoria Place, which will include more than 700 apartments, 255 build for rent homes and 400,000 sq. ft. of logistics.
“Marlowe Peoria Place is an vital piece in the overall Peoria Place master plot,” Billy Cundiff, Greystar Managing Director, Development, said. “Marlowe Peoria Place will highlight the entrance to Ancient Town Peoria with a public art piece and bring 4,900 sq. ft. of retail space that will serve as an amenity to the entire area. This project is truly a partnership between the city and Greystar to get the master plot of the ground.”
“In Peoria, we realize that a diverse housing portfolio is key to attracting new business,” said Peoria Deputy City Manager Mike Faust. “Peoria Place is a wonderful addition to the community, bringing new retail businesses and connection to our P83 Entertainment District with simple access to the 101.”
As the first conventional multifamily community within the master plot, Marlowe Peoria Place is a three-tale community with 370 apartment homes with one- and two-bedroom floorplans that range from 650 to 1,180 sq. ft. Marlowe Peoria Place Marlowe will balance comfort and luxury through their thoughtfully designed interiors including quartz countertops, stainless steel appliances, two bright color schemes, and abundance of community amenities. Community amenities will include a 1,200 sq. ft. fitness center, pickleball court, two dog parks, a coworking space in the clubhouse and a pool with cabanas and spa. The community’s architecture is Spanish desert which will have elements throughout the master plot as well.
The Peoria Place master plot is adjacent to the City of Peoria municipal offices and will bring restaurants, retail and lifestyle-related business to the Ancient Town area to complement the many events that the city hosts. The project is located half a mile south of Pioneer Community Park, an 83-acre public space with dog parks, an urban lake, public art and more than 10 lighted fields for various sports. Peoria Place is just a 10-minute drive from the Westgate entertainment district, State Farm Stadium, home of the Arizona Cardinals, and the Peoria Sports Complex where the Seattle Mariners and San Diego Padres play their spring training games.

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ROCHESTER, NY – Conifer Realty, a nationally ranked, full-service real estate company specializing in the development, construction, management, and ownership of high-quality, affordable housing communities, and Community Preservation Partners, a mission-driven affordable housing preservation developer, have announced the plotted renovation of Andrews Terrace, an iconic 526-apartment building complex on Rochester s waterfront for senior (62+) and disabled residents (and their families). This is the second joint community investment for Conifer and CPP in Rochester, following Keeler Park, which was bought in October 2022.
Built in 1975, and located at 125 St. Paul Street, Andrews Terrace consists of two 19- to 22-tale elevator-served residential buildings containing 526 studio, one-, and two-bedroom apartments. The buildings are connected fully on the first floor, with elevated outdoor walkways throughout. In recent years, the development has faced capital repair and maintenance challenges beyond what the operating budget could cover. In response to this, Andrews Terrace will receive extensive renovations estimated at $101 million, with a total project investment of approximately $335 million.
KeyBank Community Development Lending and Investment (CDLI) in partnership with the Urban Investment Group (UIG) within Goldman Sachs Asset Management, invested $135.6 million of 4% Federal LIHTC Equity and provided a $200 million construction loan. Additionally, KeyBank Commercial Mortgage Group closed $73.1 million Fannie MTEB and KeyBanc Capital Markets underwrote $163 million of tax-exempt bonds for this project. Federal and State Historic Tax Credit equity of $37.2 million will be provided by Chase Community Equity.
“We are excited to partner with Conifer Realty and Community Preservation Partners to revitalize Andrews Terrace, which provides a critical supply of affordable housing to Downtown Rochester. Our investment will help existing and new residents access safe, affordable housing and critical on-site services. We look forward to the lasting impact on the community of this next chapter in Andrews Terrace s nearly 50-year history, said Scott Maxfield, a Managing Director in the Urban Investment Group within Goldman Sachs Asset Management.
KeyBank has had a steadfast commitment helping the clients and communities we serve thrive, said Rob Likes, National Manager of KeyBank s CDLI team. We are deeply committed to helping underserved populations and are proud to partner with Conifer Realty and Community Preservation Partners to renovate, safe and decent affordable housing for seniors and disabled residents.
Preservation of this unique 557,602 square-foot downtown development, designed in the brutalist architectural style, will complement Rochester s ROC the Riverway Program, a unified plot which includes dozens of transformational projects along the Genesee River.
“We are thrilled to partner with Community Preservation Partners on the revitalization of Andrews Terrace, a cherished affordable housing community here in our hometown, said Jason Carroll, Senior Vice President of Acquisitions & Development at Conifer. This collaboration exemplifies our commitment to providing quality affordable housing and fostering sustainable neighborhoods that enhance the Rochester community. Together with CPP, we look forward to preserving the legacy of Andrews Terrace and making an even brighter future for its residents.”
All apartments will receive considerable kitchen upgrades including new countertops, painting, new appliances, fixtures, and cabinets. Bathrooms will also be refurbished with the installation of new fixtures, vanity, and wainscotting. Once completed, 5% of the community s apartments will be brought into ADA compliance.
Common areas, including the lobby, community room, management office, maintenance shop, and parking garage, will be renovated with drywall repairs, painting, new flooring, and HVAC upgrades, as needed.
There will also be several new outdoor additions to the community including a community garden on the property s terrace, grandparents playground, a seating and grilling area, and bocce ball courts. Indoor amenities will include a fitness room, game room, reading nook, and two community rooms with serve-in kitchens. New mailboxes with parcel boxes will also be installed.
Additionally, elevators and electrical and plumbing systems will be upgraded. The building s signature cantilevered balconies and connecting outdoor breezeways will be fully restored and upgraded with new end coating, bringing them back to their historical glory. Windows and select doors will be replaced, and the façade will receive concrete and masonry repairs.
Like many communities we serve across the nation, there is a significant need for affordable housing in Rochester, said Vice President of CPP East, John Fraser. So, it s incredibly satisfying to preserve this iconic affordable housing development for years to come. Andrews Terrace is a landmark and an vital part of the community.
Under an existing Housing Help Payment (HAP) contract Andrews Terrace currently has 496 of its apartments reserved for residents earning an Average Medium Income (AMI) of 50% or less, with 30 apartments set at 60% or less of AMI.
The transaction, which closed on December 21, 2023, includes a 20-year renewal to the Project-Based Section-8 contract from HUD, as well as a new 4% Low Income Housing Tax Credits (LIHTC) from the New York State Division of Housing and Community Renewal (NYSHCR), federal Historic Tax Credits (HTC) from the National Park Service, tax-exempt bonds issued by COMIDA (the County of Monroe Industrial Development Agency), and New York State Historic Tax Credits from the New York State Historic Preservation Office (SHPO).
Renovations are scheduled to take 32 months to complete, with minimal impact to residents expected, said Ari Shachter, Director of Acquisitions and project lead for Conifer.

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