RENO, NV – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Aspen Vista, a newly constructed 102-unit build-for-rent housing community in Reno, Nevada. The community was bought on behalf of CS1031 Aspen Vista BFR Housing, DST.
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 (“BFR”) strategy in high growth sunbelt markets. This represents Capital Square’s fourth BFR offering on platform to date.
“The team at Capital Square is pleased to sponsor a build-for-rent housing community in Reno, Nevada, for the DST/Section 1031 exchange program. Reno is one of the fastest growing regions, attracting many large corporations and residents from more expensive border states, including California. With strong leasing and rent growth, Aspen Vista is poised to become a top performer in Capital Square’s growing portfolio of housing options,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Located at 548 Aurora View Court, construction of Aspen Vista was completed in 2022. Developed by D.R. Horton, the nation’s largest homebuilder by volume, the detached three- and four-bedroom single-family homes average 1,689 square feet with open floorplans, granite countertops, stainless steel appliances, wood-like plank flooring, full size washer/dryers, walk-in closets, private backyard or patio, attached two-car garages, smart home integration and extra storage.
The property is in close proximity to the 395 Highway interchange, offering residents simple access to nearby schools, parks and shopping centers anchored by tenants such as Walmart, Smiths, Grocery Outlet, Huge Lots, CVS Pharmacy and Right Value Hardware. Residents also benefit from major logistics hubs with blue-chip employers, including Amazon, Tesla, Volvo and UPS.
The Reno metropolitan statistical area is one of the fastest growing regions in the country, which has increasingly attracted large corporations and residents migrating from bordering states, such as California. Over 29 corporate headquarters have went into the market with major employers, including Apple, Google, Blockchains, Switch, Walmart, eBay and Tesla’s Gigafactory.
“Aspen Vista has been built in one of the most attractive real estate markets in the country, which has experienced rent growth of more than 6.5 percent in 2022, according to Yardi Matrix,” said Whitson Huffman, co-chief executive officer. “The property is a modern and attractive housing option located in an undersupplied submarket that achieved 96 percent occupancy in 2022 with only 892 units under construction.”

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CHARLESTON, SC – Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer and asset manager, announced the opening of Cormac Apartments. Cormac is a mixed-use apartment community on Charleston’s upper peninsula and represents the first joint venture between QMF and Cresset Partners and was capitalized in their Cresset Diversified Qualified Opportunity Zone (QOZ) Fund I.
Cormac, featuring 303 apartment homes and 13,068 square feet of retail space, as well as a pair of public ground level courtyards – offers an unprecedented level of modern living to the rapidly growing North Morrison “NoMo” district. The mid-rise community’s unique and enviable location puts residents within simple reach of employment centers and dining options, as well as entertainment and sporting venues. It also provides prime access to Downtown Charleston, Mt. Pleasant, Park Circle in North Charleston, and West Ashley.
“Cormac represents a significant step in the evolution of Charleston’s Upper Peninsula district, bringing an element of sophistication through next-level living and retail opportunities,” said Beach Corontzes, development manager for Quarterra. “The Upper Peninsula has become a destination dining and nightlife locale, not to mention a coveted neighborhood to call home. We’re excited to welcome residents and help to accelerate the surging momentum in the neighborhood.”
Situated at 1310 Meeting Street Road, Cormac is central to regional employment, shopping, dining and entertainment options. The retail shops at King Street, East Bay Street, Historic Charleston City Market, West Edge and Mt. Pleasant Town Center are all within a small drive. Local hot spots such as Butcher & Bee, Edmund’s Oast Brewing Company, Home Team BBQ, Revelry Brewing and Brewlab Charleston are just blocks away. Cormac residents also find themselves in close proximity to several local attractions such as The Refinery, Pacific Box & Crate, and The Wonderer.
Cormac’s location on Meeting Street Road (U.S. Highway 52), is less than a quarter mile from Interstate 26, and approximately 1 mile from Ravenel Bridge – which leads to Mt. Pleasant – making exceptional connectivity to employment centers in Downtown, Mt. Pleasant and North Charleston. Residents have access to a controlled-access three-tale above-grade parking facility, as well as on-street parking and 19 electric vehicle charging stations.
The community features studio, one- and two-bedroom apartment homes, highlighted by Nest smart thermostats, keyless entry and stainless-steel Whirlpool appliances. Custom cabinetry, quartz or granite countertops, hardwood-inspired flooring and pendant lighting is featured in two distinct design schemes. Homes are equipped with tile backsplashes and under-cabinet lighting in kitchens, and baths come with oversized tubs or walk-in showers with full tile surrounds.
Residents also delight in a full amenity lineup which includes an eighth-floor rooftop terrace complete with butler kitchen and spectacular views of Downtown Charleston and the Ravenel Bridge. The fourth-floor features three elevated courtyards – one of which is highlighted by a resort-style pool and clubhouse. The clubhouse is home to multiple coworking spaces. A state-of-the-art fitness center, a bike storage room, package lockers, rentable storage spaces are at residents’ disposal, as well.

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BILLINGS, MT – Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, announced its acquisition of South Forty Apartments and its plans to renovate the property, helping to preserve high-quality, affordable units for Yellowstone County seniors. The transaction is a joint venture with Fairview Housing Partners, a national nonprofit affordable housing organization.
“We’re thrilled to grow our housing portfolio with our first acquisition in Montana, and we look forward to deepening our investment in the state over the coming years,” said LAC CEO Jeremy Bronfman. “LAC is grateful to Vitus for its stewardship of the property and its partnership to ensure long-term affordability at South Forty Apartments. We are especially excited to close our first joint venture with Fairview Housing Partners and look forward to working together to provide vital services and resources for our residents.”
Under the terms of LAC’s acquisition, 101 units will be restricted for seniors at or below 60 percent of area median income (AMI). The property will also be covered by a Housing Help Payment contract for 100 percent of its units.
“This deal will preserve access to high-quality homes for lower-income seniors who face unique challenges in finding affordable housing across the country,” said Fairview Executive Director Thom Amdur. “We thank LAC for their partnership and are proud to play a vital role in supporting seniors in Yellowstone County.”
Originally built in 1987, South Forty Apartments offers amenities including an arts and crafts area, library, fitness center, and a picnic area. The acquisition and rehabilitation was financed through a 223(f) loan with PGIM and an equity investment and bridge loan through PNC.

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