ROCKLEDGE, FL – CONAM Multifamily Partners Fund III, a discretionary fund sponsored by The CONAM Group, announced the buy of Rockledge Flats, a Class A, 247-unit multi-family apartment community near Florida s Space Coast in Rockledge, Florida.
Completed in late 2021, the 10-acre luxury apartment community consists primarily of two four-tale elevator-served structures housing 247 units. A standalone, single-tale building serves as the leasing office and amenity clubhouse and features a 24-hour fitness center, resident lounge with billiards table, and conference room.
Positioned north of the indoor amenity structure and between the two four-tale residential structures is an outdoor kitchen with two gas grills and an oversized zero-entry pool with pergolas, lounge seating, and a poolside firepit. The best-in-class apartment interiors boast 10 ceilings, abundant natural light, stainless steel appliances, quartz counters, ample storage and closet space, and full-size washers and dryers.
Residents at Rockledge Flats have an simple commute to the robust job centers of the Space Coast, and an influx of local businesses attracted to Rockledge s main street initiative has contributed to a thriving local community centered nearly directly in front of the property. In further benefit to Rockledge Flats residents, the broader region has seen surging employment in technology industries, specifically the high-wage scientific research and development sector, which has grown over 75% in the past five years. Residents also benefit from the newly constructed Publix-anchored retail center located a small distance from the property, plus the abundance of desirable amenities in the master-plotted Viera community quickly accessible via US HWY 1.

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RIALTO, CA – Plant Prefab, the first Certified B Corporation building technology company dedicated to sustainable design, materials, and operations, announced that it has secured $42 million in Series C and other funding to support the company s capacity expansion and increased multi-unit housing production. The Series C was led by Gerdau Next Ventures, the corporate venture capital program of Brazilian steel producer Gerdau, with additional investments by Asahi Kasei, Brown Angel Group, ICT Capital and Unreasonable Collective. The round also included debt and equipment financing from Western Technology Investments and ATEL Capital Group. All parties are existing investors in Plant Prefab, reflecting strong belief in the company s growth and market opportunity.
We are gratified by this vote of confidence from our investors, who recognize the opportunity to further scale our solutions for multifamily and single-family community developments, said Plant Prefab Founder & CEO Steve Glenn. The Series C funding will enable completion of the Arvin Hub — Plant Prefab s first automated factory and regional production hub and the country s first hybrid panel and module manufacturing facility — which will provide the additional capacity, increased velocity, and expanded geographic reach to serve our target markets.
With a national housing shortage estimated at four million homes, the most in-demand urban infill and resort markets have been especially hard for builders to address due to diverse local zoning and code requirements, skilled labor shortages, high labor costs, and/or small building seasons, all of which dictate tailored solutions. Plant Prefab s patented Plant Building System™ was specifically designed for such challenges, utilizing advanced engineering in combination with specialized Plant Panels™ and Plant Modules™ to accommodate modular, panelized, and hybrid modular/panelized building solutions. The system addresses the design and buildability problems of all-modular or all-panelized approaches as well as the unpredictable timelines and labor challenges that can lead to massive schedule and cost overruns in site-based building.
The Arvin Hub will enable full industrialization of the Plant Building System, allowing Plant Prefab to take on larger multifamily and single-family community developments. At scale, the factory will be capable of producing over 900,000 square feet of housing (equivalent to over 800 housing units) per year, far more time and cost efficiently than the company s existing two factories. The Arvin Hub will also expand Plant Prefab s service area to the entire Western U.S., where the nation s housing shortage is especially severe. The company s pipeline reflects this demand: As of August 2022, contractual backlog totaled more than $85M and prospective business totaled more than $660 million, representing year-over-year growth of 58 percent and 110 percent, respectively. Contracts include workforce, affordable and market-rate housing spanning multifamily, single-family, single-family community and student housing developments.
In addition to completing the Arvin Hub, funds from this financing will also be used to bolster Plant Prefab s engineering, product management, supply chain and project management infrastructure. Digital building data — produced by the company s proprietary engineering platform — will be used to drive automated manufacturing equipment in addition to providing detailed instructions to project partners for efficient on-site installation and end. The development of curated end packages for all segments of the market will further streamline project plotting and mitigate supply chain-related delays.
Plant Prefab s end-to-end solution ensures optimal efficiency throughout the project lifecycle. This holistic approach and proven ability to standardize nearly any design into repeatable components makes the company uniquely suited to address the most high-demand segments of the housing market, especially urban infill, second home, and resort communities in the Western U.S., says Rafael la Porta de Castro, Corporate Development Director for Gerdau North America. Gerdau is proud to support Plant Prefab s leadership in sustainable housing design, production, and operations.
Plant Prefab s data-driven processes produce 30 percent less construction waste than site-based methods, and corporate responsibility initiatives spanning everything from material sourcing to component shipping efficiency have helped the company achieve carbon-neutral operations since 2020. The Arvin Hub is being constructed to Plant Prefab s strict environmental standards for minimal resource consumption and will be fully solar-powered. The company plans to continue scaling its sustainable housing production through a hub-and-spoke model that will eventually serve the entire continental U.S. Standardized Plant Panels will be produced at highly automated, high-volume regional hub facilities with consolidated resources, while Plant Modules will be assembled at spoke facilities that are located closer to customers to minimize shipping costs and on-site end work.

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INDIANAPOLIS, IN – Real estate private equity firm Gray Capital has closed on their acquisition of Sycamore Terrace Apartments, a 250-unit luxury multifamily apartment community located in Terre Haute, IN.
Gray Capital’s strategy for this project includes repainting exteriors to enhance curb appeal, installation of a controlled access and gate system at the property, cosmetic improvements for the club house, and improved on-site management of the property through Gray Capital’s property management company, Gray Residential.
“Sycamore Terrace is already a best-in-class asset, and our improvements at the property will ensure that Sycamore Terrace continues to set the standard for luxury apartment living and meet the needs of a growing community” says Spencer Gray, President and CEO of Gray Capital.
George Tikijian, Hannah Ott, and Cameron Benz of the Indianapolis Cushman & Wakefield represented the seller in the transaction, with Gray Capital representing itself.
Sycamore Terrace is the third property within Gray Capital’s $100 million multifamily investment fund, The Gray Fund, and follows the acquisition of Club Meridian in Lansing, MI and Indianapolis apartment property Stonybrook Commons earlier this year.
Gray Capital’s acquisitions in 2022—Sycamore Terrace, Club Meridian, and Stonybrook Commons—total over $127 million and are part of Gray Capital’s $775+ million in assets under management and more than $2 billion in commercial real estate transactions to date since its founding in 2015.

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