LAS VEGAS, NV – McCourt Partners, one of the most visionary and community-driven family-owned real estate development companies in the U.S., announced a partnership with experienced ;Las Vegas-based TRU Development Company, a market leader with deep roots in the region, to develop a 244-unit, Class A apartment building in Henderson, Nevada. The project is set on nearly 6 acres at the gateway of Inspirada, a vibrant and flourishing master-plotted community.
“We’re delighted to expand our footprint to an exciting high growth market where we see fantastic potential,” said Jordan Lang, President of McCourt Partners. “We are pleased to partner with TRU Development who not only have a proven track record and intimate market knowledge but share our passion for building projects that have a meaningful impact on the communities they serve.”
“TRU Development is excited about the opportunity to partner with McCourt Partners in acquiring a dynamic site in Inspirada. The growing submarket in West Henderson provides a perfect setting for a new multifamily residential delivery,” said Tim Deters, President and CEO of TRU Development.
This project is the latest in a robust pipeline of developments for New York and Los Angeles-based McCourt Partners, who announced earlier this year the acquisition of a core piece of the Dallas Design District, a unique real estate portfolio spanning more than 40 acres and nearly 800,000 square feet of leased showroom, retail, and flex office space.
McCourt’s Chairman and CEO, Frank H. McCourt Jr., is a fifth-generation builder and business leader with family roots in real estate and construction dating back to 1893. Over the last 45 years, McCourt has been involved in large-scale real estate projects in New York City, London, Miami, Austin and Los Angeles, and played a critical role in the development of Boston’s Seaport.

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DALLAS, TX – Brazos Residential, a Dallas-based real estate private investment firm specializing in multifamily investments, announced the acquisition of two properties in Rocky Mount and Fayetteville, NC, marking the firm’s thirteenth and fourteenth transactions in 2022, respectively.
In Rocky Mount, the firm bought the Jefferies Cove Apartments, a 152-unit community built in 1987, with an average unit size of 1,066 sq. ft. Brazos bought the asset from the original developer and was particularly drawn to the opportunity due to its proximity to an existing portfolio property that has performed exceptionally well.
“Jefferies Cove is located a half a mile from our Rosewood community that we bought earlier this year,” clarifies James Roberts, Managing Partner, and Cofounder. “Rosewood is of similar vintage to Jefferies Cove and was also bought from its original developer. Since we bought it in April, the property has continually exceeded pro forma. We are confident that Jefferies Cove presents a comparable opportunity for our investors.”
In Fayetteville, Brazos bought the Briarwood Apartments, a 273-unit complex that was built in 1970. The property is in very close proximity to Cape Dread Medical Center, the 9th largest medical system in North Carolina, which contains nearly 1,000 beds and employs over 7,000 people, and marks the firm’s fourth acquisition in Fayetteville, NC.
“Brazos now holds over 700 units in Fayetteville,” clarifies Blake Shannon, Chief Investment Officer. “By emulating the success of our other Fayetteville properties, we are excited to capitalize on Briarwood’s operational inefficiencies to reposition the asset and maximize returns to our investor partners.”
Founded in 2022, Brazos Residential owns, operates, and manages multifamily real estate assets for institutional and high-net-worth investors across the country. Brazos holds over 2,500 multifamily units across the American Sun Belt, predominately in Texas and North Carolina. The firm employs a dynamic team of real estate, private equity, accounting, and capital market professionals and controls over $307 million in multifamily real estate investments.

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SALT LAKE CITY, UT – Safehold, the creator and leader of the modern ground lease industry, has closed on a $26.5 million ground lease to facilitate the ground-up development of One Burton, a fully amenitized 180-unit multifamily project located in South Salt Lake’s new downtown district.
The Qualified Opportunity Zone project will be developed by a new Safehold customer, ABSTRACT Development Group, an affiliate of a large New York based multifamily real estate owner.
“We are pleased to close our first multifamily transaction in Salt Lake City with a first-rate sponsor,” said Senior Vice President Adam Matos. “Safehold’s ground lease structure has proven to be an advantageous capital source for high-end developments nationwide. We look forward to expanding our presence in the Salt Lake City market and continuing to work closely with ABSTRACT.”
“This transaction was extremely vital to us as it represents our first project in the growing Salt Lake market. The Safehold team was a pleasure to work with, and remained a reliable partner, even during this current period of economic uncertainty,” said Jason Algaze, Principal at ABSTRACT. “They understood our goal to provide thoughtfully-designed and much-needed housing in the Salt Lake market. We look forward to working alongside Safehold to develop additional high-end multifamily projects.”

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