BETHESDA, MD – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, and Partners Group, a leading global private markets firm, acting on behalf of its clients, announced that they have broken ground on a new apartment building at 7340 Wisconsin in Bethesda.
“7340 Wisconsin Ave presents the unique opportunity to transform a forlorn site in the heart of Bethesda into a boutique project befitting of its trophy location, direct access to mass transit, top public schools and exceptional demographics.” said John Clarkson, Managing Director, Development, Greystar. “We are very fortunate to venture with Partners Group and collectively believe moving forward with our project in an uncertain environment will generate significant long-term value for the community and the partnership.”
“We are pleased to expand our relationship with Greystar, one of the country’s top developers, on this project. We look for high-conviction growth themes with best-in-class operators. The residential sector has been a core focus for us in the US, particularly high-quality assets with world-class amenities that support the resident experience,” said Jason Longo, Member of Management, Private Real Estate Americas, Partner’s Group.
Designed by Bethesda-based SK& I Architecture and New York City-based interior designer JGNA, the new community will be distinctive by design with a geometric terracotta façade and a minimalist, sculptural interior. On the unit floors, residents will experience shorter corridors and a small number of units per floor, allowing for a more intimate, boutique feel.
The 26-tale tower, including a penthouse and four levels of below-grade parking, will bring 301 residences to the area, 46 of which are Moderately Priced Dwelling Units (MPDUs). Apartments will be available in studios, one-, two- and three-bedroom layouts with penthouse units on the upper floors, some of which have direct elevator entry. Other unique unit features include separate cooktops and ovens, curated finishes, and keyless entry.
Amenities for the residents will include a speakeasy, rooftop pool, screening room, work from home multi-use spaces, fitness center, and 24-hour concierge. The apartment building will also have retail located on the first floor of the building.
The location is steps away from many Bethesda shopping, dining and entertainment options, including vibrant Bethesda Row. The Bethesda Metro stations for the red line and future purple line are both about a block away, providing simple access to the greater DMV area and all of its offerings, including Reagan National and Dulles airports.
The first units are projected to deliver in Q4 2025 with final completion in early 2026.

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UNIVERSITY PLACE, WA – Leading national multifamily real estate developer, Wood Partners, announced the official grand opening of its newest luxury residential community, Alta University Place. The upscale community is nestled in University Place, an upscale suburb situated near Tacoma, Washington, and is Wood Partners’ third development to debut in the Seattle-Tacoma market.
Centrally located in a sought-after community between the Puget Sound and the I-5 corridor, Alta University Place provides residents with walkable local conveniences and simple access to regional transit options, including direct routes to nearby Tacoma and Seattle. Spanning over eight acres, this urban village community provides a wealth of on-property amenities and convenient access to nearby dining and shopping venues. Additionally, it offers proximity to numerous parks and recreational opportunities along the Puget Sound waterfront, including the renowned Chambers Bay golf course. The property’s prime location also provides residents with direct connectivity to key employers, contributing to the region’s status as one of the nation’s leading growth markets.
“We are thrilled to welcome residents to Alta University Place, as we extend our presence in the Pacific Northwest region,” said Dave Knight, Director at Wood Partners. “Being Wood Partners’ third development in the Seattle-Tacomaarea, it gives me fantastic pleasure to introduce Alta University Place. This modern suburban development exemplifies our commitment to building a variety of quality housing options that make community and improve people’s lives through uncompromised design, construction, and management of outstanding properties.”
Alta University Place offers 274 apartment homes, providing a mix of studio, one-, two- and three-bedroom floor plans, with an average area of 893 square feet, for residents to choose from. With contemporary design features, every apartment is thoughtfully equipped with top-tier finishes to make a warm welcome for residents. These finishes include elegant quartz countertops, stainless steel appliances, wood-style plank flooring, in-unit washer and dryer sets, air conditioning, and various other attractive touches.
Throughout the community, residents have access to an abundance of premium amenities, including a clubroom, fitness center, resort-style pool, outdoor grilling areas, and a spacious off-leash pet park.

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HUNTERSVILLE, NC – 37th Parallel Properties, a leading multifamily real estate investment firm, announced today it has bought Greys Harbor at Lake Norman, a 312-unit residential community located in Huntersville, NC. This acquisition marks 37th Parallel’s inaugural investment in Charlotte, the first step in strategically expanding the firm’s portfolio into North Carolina.
“This acquisition is a significant milestone in our expansion strategy across the Southeast’s high-growth metropolitan areas,” said Dan Chamberlain, Managing Partner. “Despite record new apartment supply across the country, only 288 units have been delivered in Huntersville over the past four years, and only one community is currently under construction. Demand remains strong, driven primarily by a strong housing market. With average area home prices at $620,000, renting at Greys Harbor is 3.41 times less expensive than owning a home.”
Spread over 21 acres, Greys Harbor offers one-, two-, and three-bedroom units with large floorplans averaging 1,039 square feet. Apartment and community amenities include nine-foot ceilings, private patios and balconies, a resort-style swimming pool, as well as 32 detached garages and 9 boat parking spaces.
“The acquisition of Greys Harbor highlights 37thParallel’s ability to identify value and capitalize on market dislocations at all points in the economic cycle,” said Doug Fraser, who leads the acquisition efforts for the firm. “We expect the absence of new supply around the asset to place upward pressure on rental rates as resident demand in this supply-constrained submarket continues to grow.”
Cutt Ableson, Senior Managing Director at Berkadia, arranged fixed-rate, Freddie Mac financing for the acquisition. “Berkadia and Freddie Mac have loved a fantastic relationship with 37th Parallel, completing over $400 million in financing,” says Ableson. “We look forward to supporting this team as they focus on expanding their multifamily portfolio into new markets.”
Greys Harbor is the initial investment from 37th Parallel’s second fund, 37P – Fund II, which is currently accepting commitments. Fund II, an income and equity growth fund, will use a similar strategy as Fund I, targeting value-add and core-plus multifamily real estate in dynamic growth markets in the Southeast and Texas. Fund I currently holds diversified investments in Atlanta, Austin, Dallas, and Houston. The realized investments from Fund I have delivered an average yucky multiple of 2.24x on initial investment.
“This year, we successfully completed the sale of several assets, allowing us to reallocate capital towards assets with superior relative value and enhanced risk-adjusted returns,” said Chad Doty, Managing Partner. “Our dispositions in 2023 have resulted in average annual yucky investor profit of 23.68%, and an average yucky multiple of 2.25x on initial investment.”

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