FRAMINGHAM, MA – The historic Bancroft building, which dates back to the early 1900s, has been preserved and given a new purpose by Washington Square Ventures, which has transformed the former factory into 258 apartment homes that are professionally managed by Greystar. The project was awarded a 2023 Preservation Massachusetts Mayor Thomas M. Menino Legacy Award, which recognizes excellence in historic preservation statewide.
The Lofts building is an ancient mill building that has served as a car manufacturing plant as well as other crated goods throughout the 20th century and was previously home to artists at the Fountain Street Gallery. Some of the industrial components, like raised beams and factory-style windows, have been restored and remain in the Loft building.
“The Bancroft Building is a key piece of Framingham’s economic history, having served several purposes throughout its life, and we wanted to make sure it endured for another purpose,” said Matt Faris, Co-Founder and Managing Partner of Washington Square Ventures. “It started its life as a shoe factory, served as a military supply factory as Bancroft Cap Company, and even saw Bay State Autos manufacture automobiles.”
A brand-new building on the property, The Vista, is a ground-up traditional apartment building and features sweeping views of Farm Pond, while the site’s former power station has been transformed into a 4,500 sq. ft. amenities hub highlighted by a resort-style swimming pool, lounge with TVs, fire pits and turf, outdoor grilling stations, and a top-notch fitness center inside. Washington Square Ventures is also working on a second phase of Bancroft Lofts with an expansion that would add 300 more apartment homes to the community.
Washington Square Ventures spent the time lovingly restoring the Bancroft Building, using sustainable building practices, and now Bancroft Lofts is a fantastic example of Framingham’s reinvention. The vibrant downtown is close to transit, restaurants, many with Brazilian cuisine, and local businesses like Jack’s Abby Craft Lagers, a local favorite and official beer of the Boston Celtics. Bancroft Lofts partnered with Jack’s Abby to design a special pint glass used as a go-in gift for residents.

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CHARLESTON, SC – Argyle Real Estate Partners (Argyle), a real estate investment firm focused on multifamily acquisitions in the Southeast and Texas, announced the closing of Newbrook Point Hope, a 264-unit community located in Charleston, SC, an extension of the affluent and highly desirable Daniel Island submarket. The acquisition marks the Company’s first in the Charleston market.
“Argyle is pleased to tap into unchartered territory and close out the year with the acquisition of Newbrook,” said Ryan Reyes, CEO for Argyle Real Estate Partners. “Given its location and accessibility, the mint condition of the asset, and the development plotted for the area, which we believe will help spur future growth, we’re confident that Newbrook will be one of our standout properties.”
Newbrook is at the epicenter of the ‘Point Hope’ Masterplan Development; a master development plot that contains single-family residential homes from many of the nation’s top builders, multifamily housing, retail and office space, and brand-new A-rated public schools.
The 2021-vintage Newbrook offers studios, and 1, 2 and 3-bedroom apartments with unique and spacious floorplans averaging over 1,000 sf ft. Apartments feature stainless-steel appliances, quartz countertops, walk-in closets, modern fixtures, and full-size washers and dryers; while the property’s amenity suite, which draws its design and inspiration from the area’s coastal surroundings, includes a full-service clubhouse, a resort-style saltwater pool, a pickleball court, fitness center, an impressive dog park known as the “Doggy Paddle”, and ample green space with community trails for walking, biking, and running that also provide access to other neighboring attractions. Greystar will oversee operations onsite.
Newbrook is 25 minutes from Downtown Charleston, the main manufacturing (Boeing and Mercedes) and healthcare hub in Charleston; and Daniel Island is home to major employers such as: Benefitfocus (county’s largest employer), Booz Allen Hamilton and Gildan.
“Newbrook fits our investment criteria of buying well located assets for below replacement cost in strong and desirable submarkets,” said Mike Cacciatore, Principal for Argyle Real Estate Partners. “By being within walking distance to Publix,30K SF of quality retail, and A-rated public schools, Newbrook offers access to an unparalleled, walkable community that is and will remain desirable to prospective tenants over the long term.”

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KNOXVILLE, TN – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced the acquisition of Summit Townhomes, a newly constructed 120-unit build-for-rent (BFR) housing community in Knoxville, Tennessee. The community was bought on behalf of CS1031 Summit Place BFR Housing, DST, which seeks to raise $18 million in equity from accredited investors and has a minimum investment of $50,000.
Capital Square formed the Private Equity Group managed by experienced real estate executives, Dave Platter and Jon Trott, as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent strategy in high growth sunbelt markets. This represents Capital Square’s fourth BFR offering for the Section 1031/DST program, and the seventh BFR project for the private equity group.
“Capital Square’s private equity group is a high-performing team with top-tier executives who are focused on housing strategies, including BFR,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This will be one of the largest BFR platforms in the nation. We have previously reported that Capital Square has secured its first institutional partner for the BFR strategy and has now closed on the seventh BFR community, Summit Townhomes, for the DST program.”
Located at 100 Lisa’s Way, construction of Summit Townhomes was completed in 2022. The mix of three- and four-bedroom townhomes average over 1,400 square feet with open floor plans, marble countertops, stainless steel appliances, full size washer and dryers, walk-in closets, smart home integration and extra storage space. Community amenities include a firepit, picnic and barbecue area, private and overflow parking, covered gazebo and bark park.
The property is in close proximity to State Route 62, providing residents with simple access to top employers, such as Oak Ridge National Laboratory, Y-12 National Security Complex, UT-Battelle, Methodist Medical Center of Oak Ridge and Oak Ridge Schools. Summit Townhomes is served by Woodland Elementary School, Robertsville Middle School and Oak Ridge High School, all within a two-mile radius of the property.
Summit Townhomes is under a 30-minute drive from downtown Knoxville. The Knoxville MSA has a population of 747,185 and is projected to increase by 3.6% over the next five years. The University of Tennessee plays a significant role in Knoxville’s economy. With iconic landmarks like Neyland Stadium, with a seating capacity of 100,000+, university sports events generate meaningful revenue for local businesses. Moreover, the university employs more than 11,700 people who focus on research, educational programs and partnerships that contribute to the city’s overall economic growth.
“Knoxville is an attractive and promising real estate market, offering a combination of affordability, a stable rental market driven by universities and government employment, steady economic growth and a favorable income tax policy,” said Whitson Huffman, co-chief executive officer. “The property has already seen strong performance, accomplishing full lease-up in nine months with 98% current physical occupancy.”

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