CHARLOTTE, NC – Crescent Communities and Pretium celebrated the groundbreakings of HARMON Ballantyne and HARMON Five Points, two build-to-rent (BTR) communities under construction in Charlotte as part of the companies’ joint venture and commitment to invest $1 billion in new single-family build-to-rent communities across 14 key strategic growth markets.
“We’re thrilled to celebrate the entry of the HARMON brand in Charlotte by officially breaking ground on HARMON Ballantyne and HARMON Five Points,” said Tony Chen, Managing Director of Single-Family Build-to-Rent at Crescent Communities. “HARMON Ballantyne and HARMON Five Points bring infill housing options to Charlotte providing its residents the opportunity to lease groundbreaking new homes in highly sought-after neighborhoods without the long-term commitment and high upfront cost of homeownership. We look forward to seeing the progress on these communities and are excited to share construction updates in the coming months.”
“Pretium is committed to being a leading part of the solution to address the nationwide housing shortage, and our build-to-rent partnership with Crescent to develop and operate rental communities across the country is part of those efforts,” said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. “The HARMON Ballantyne and HARMON Five Points communities demonstrate our dedication to providing affordable, modern housing in the rapidly growing communities where it is needed most. We look forward to continuing to ensure our residents have access to high-quality single-family homes.”
Both communities will offer townhomes ranging from 3 to 4 bedrooms each with private garages, driveways, and balconies. Located at 15825 Marvin Road, 13 miles south of Charlotte’s central business district, HARMON Ballantyne will bring 60 residences to the Ballantyne area, which has experienced noticeable growth in recent years and offers access to a broad range of amenities, including shopping, dining, schools, and recreation opportunities. HARMON Five Points will offer 76 residences located at 360 Seldon Drive in the West End neighborhood. The community will have a direct trail to the playground at Five Points Park and is in proximity to the Irwin Creek Greenway and Gold Line Streetcar for simple access to Uptown. HARMON Five Points is expected to offer pre-leasing winter of 2022 and HARMON Ballantyne in fall of 2023.
The groundbreakings add to Crescent Communities’ continued commitment to expanding its footprint in Charlotte. The company has also announced the development of multifamily communities NOVEL Mallard Creek and NOVEL University Place, both of which are currently under construction, the groundbreaking of NOVEL Ballantyne, and the sale of NOVEL LoSo Station to MAA.

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DALLAS, TX – Arch Street Capital Advisors, a real estate investment advisory firm, announced the sale of a 417-unit Class A multifamily asset in the Dallas-Fort Worth MSA.
The asset was bought in 2017 on behalf of one of Arch’s institutional capital partners. The business plot focused on increasing value through revenue management strategies and streamlined operational expenses, combined with strengthening market fundamentals.
“We are pleased to successfully exit this asset upon executing our business plot, derived through a combination of our macro perspective and property-level insight,” said, Christopher Collins, Vice President of Asset Management, at Arch Street Capital Advisors. “One of Arch’s strengths is our ability to shift between different geographies (both within the U.S. and Europe) and different asset classes. It provides Arch with acute market insight into dislocated pricing that drives strong risk-reward acquisitions across all market cycles. The sale of this Class A asset demonstrates that ability within the multifamily space, in addition to Arch’s many recent transactions in the retail, industrial, office, and build-to-suit spaces.”
“We are actively seeking to buy yield oriented, single-tenant, net-leased, office and industrial properties as well as Data Center, Multi-Family, MOB / Healthcare, Student Housing and Retail assets and continue to search for new opportunities both on a portfolio and single asset basis.” said Gautam Mashettiwar, Senior Vice President of Acquisitions, at Arch Street Capital Advisors.
Arch Street Capital Advisors is a full-service real estate investment advisory firm. Arch specializes in assisting institutional investors with their real estate investment strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services.

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GREENSBORO, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, announced it has bought a portfolio of four apartment communities totaling 846 apartment homes located in four of its target markets. The total buy price was $313 million. The portfolio was bought on behalf of Bell Apartment Fund VII investors. The four properties bought include Sidney at Morningside, located in Atlanta, GA (to be renamed Bell Morningside); Residences at Starwood, located in Frisco, TX (to be renamed Bell Starwood); Touchstone Apartments, located in Broomfield, CO (to be renamed Bell Broomfield); and Montecito Apartments, located in Santa Clarita, CA to be renamed Bell Valencia).
“We are excited to buy a portfolio of high-quality, differentiated properties located in submarkets with healthy supply and demand fundamentals,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “At a time of increased turbulence in the capital markets, this portfolio fits our long-term strategy of pursuing investments in our target markets where we can leverage our local experience and extensive operating platform to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”
Located in Atlanta, GA, Sidney at Morningside was completed in 2009 and contains 110 apartment homes with a larger than typical floor plot averaging 1,557 square feet. Its location in an attractive residential area is close to Emory University and retail amenities including the Ansley Mall and Trader Joe’s, and provides simple access to employment centers in Decatur, Midtown, Downtown, and Buckhead. The community was originally constructed as for-sale condominiums and features large floorplans with amenities and on-site features including a high-tech fitness center, game room, saltwater pool, and a dog park.
Located in Frisco, TX, Residences at Starwood was completed in 1998 and contains 234 apartment homes in a low-density setting. Its location near the Dallas North Tollway is within a small drive to 25 million square feet of office space in suburban North Dallas and retail amenities including Stonebriar Centre and Watters Creek Village. The community features townhome style units with a high concentration of two- and three-bedroom floorplans and attractive amenities including garages, private entries, a fitness studio, and a dipping pool.
Located in Broomfield, CO, Touchstone Apartments was completed in 2018 and contains 292 apartment homes. Its location is close to major employment centers including Interlocken Technology Park, transportation arteries including Highway 36 and the future expansion of the Jefferson Parkway, and retail amenities including Flatiron Crossing Mall. Community amenities include a full-scale fitness studio, resort-style pool, and direct access garages.
Located in Santa Clarita, CA, Montecito Apartments was completed in 1999 and contains 210 apartment homes. It lies across the street from the Westfield Valencia Town Center Mall and is adjacent to the Valencia Country Club, with simple access to Interstate 5. The community has a mix of apartment floorplans and amenities that include golf course views, a spa and fitness center, garages, and controlled gate access.

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