SAN ANTONIO, TX – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the formation of a joint venture partnership with ITOCHU Corporation to buy Creekside Terrace, a 100-unit build-for-rent (BFR) single-family community currently being developed by Pulte Homes, the third largest home builder in the country.
ITOCHU Corporation is one of the largest Japanese sogo shoshaa, or general trading and investment companies, founded in Japan in 1858. According to the 2023 Fortune Global 500 list, ITOCHU is the 96th largest company in the world, with annual revenue in excess of $103 billion.1
“Capital Square is thrilled to partner with one of the largest corporations in the world to buy Creekside Terrace, a build-for-rent community near San Antonio, Texas,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Creekside Terrace is a 100-unit purpose-built single-family BFR rental community, located just minutes from Interstate 35. Part of an exceptional master-plotted development of new homes, the community features a pool, pavilion and park with convenient access to nearby shopping and dining. These three- and four-bedroom, open-concept homes offer upscale interiors and contemporary amenities for growing families in the burgeoning New Braunfels, San Antonio area. The community will provide a high-quality rental housing option to the nearly 19,000 new residents who went to San Antonio last year.
“Capital Square continues to invest in the acquisition and development of build-for-rent communities throughout Texas and the Sunbelt,” said Dave Platter, managing director and co‑head of private equity at Capital Square. “As a firm, we continue to source opportunities in the I-35 corridor between Austin and San Antonio. We believe Creekside Terrace will present a welcoming community for young families looking for the benefits of single-family living without the high costs and headaches associated with homeownership today.”
Build-for-rent communities, comprised of single-family homes purpose-built for renting, have become an increasingly well loved asset class among institutions and individual investors. Demand for this rental option is growing exponentially among residents who seek a single-family lifestyle, the financial and leasing flexibility of a rental with the amenities and convenience of a professionally managed property.
The U.S. has chronically underbuilt housing since the Fantastic Financial Crisis and requires an additional 4.3 million housing units by 2035 to meet the demand for rental housing, according to the National Multifamily Housing Council. Demand for build-for-rent homes continues to increase with professionally managed communities offering one of the best solutions for the shortage of quality, affordable housing. Institutionally owned and operated build-for-rent communities represent less than 5% of the overall U.S. housing stock, paving the way for long-term, sustainable growth for the asset class.
“We are pleased to partner with Capital Square on Creekside Terrace and look forward to working with Capital Square on future acquisitions,” said Hideyuki Matsukawa, senior vice president and general manager of general product and realty division at ITOCHU International Inc.

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WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) made its third affordable housing investment of the month with the issuance of $30.5 million in tax exempt bonds and underwrote $20.1 million in federal Low Income Housing Tax Credit equity for the construction of Ontario Place (2400 Ontario Road NW) in Adams Morgan.
The work that Jubilee does is incredible. They transform what was once uninhabitable into fertile ground. stated Christopher E. Donald, Executive Director/CEO, DCHFA at the groundbreaking of Ontario Place. Additional financing for Ontario Place is being provided by the DC Department of Housing and Community Development in the form of $23.8 million loan from the Housing Production Trust Fund.
Ontario Place is a $61.4 development that will offer 52 units, with 26 of them reserved for returning citizens. The returning citizens will be former residents of Jubilee s KEB (adjacent sister property) and participants of Jubilee s existing Supportive Housing programs, or graduates of similar non-profit led reentry programs. Additionally, the 26 set aside units will provide long-term housing options for returning citizens, as well as reunited families.
The new four-tale building will consist of efficiency, one-, two-, and three-bedroom affordable housing units leased to tenants earning up to 50 percent of area median income. Ontario Place will include the first residential aquaponics system in the District. The produce from the aquaponics system will be offered to residents and used in the preparation of free daily meals for KEB residents. Ontario Place is being developed in accordance with Jubilee s Justice Housing model, which focuses on providing affordable housing in high opportunity neighborhoods with nearby services. Jubilee s Justice Housing model focuses on four goals: Housing Stability, High Sense of Community, Financial Security (including Education as a pathway), and Improved Health Outcomes.
Through its Multifamily Lending and Neighborhood Investment and Capital Markets divisions, DCHFA issues tax-exempt mortgage revenue bonds to lower the developers costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low-cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.

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ATLANTA, GA – GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of ARIUM Vinings Station, a 315-unit community located in Atlanta, GA, which will be rebranded as Windsor Vinings.
Located in the highly coveted Vinings submarket of Atlanta, the community offers direct access to I-285 and Atlanta Road, offering residents a quick commute to Atlanta’s largest employment nodes, including Cumberland/Vinings, Perimeter Center, Buckhead, Midtown/West Midtown, Downtown and Hartsfield International Airport.
The garden-style community also offers a dog park, pool, fitness center, grilling areas, clubhouse, tennis court, and a business center.
GID plans to renovate all classic and partially renovated residences (~60%) with modern finishes, along with updates to the fitness center, pool area, tennis court, dog park, and leasing center, delivering a resident experience that goes beyond the ordinary.
“We look forward to growing our portfolio in the Vinings submarket of Atlanta,” says Greg Bates, CEO, GID. “This property fits with our strategy of acquiring well-located garden-style communities with 9-foot ceilings in supply-constrained, high-growth submarkets.”
GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. With over 60 years of experience across multiple asset classes, GID is an established real estate private equity investor and fiduciary supported by an integrated operating platform with approximately 54,000 multifamily units and over 25M square feet of industrial and commercial space of assets under management.

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