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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GILBERT, AZ – Family Development and Mosaic have announced the groundbreaking at Town Germann, a gated, build-to-rent community located in Gilbert, Arizona. The 14.5-acre property will consist of 209 luxury townhomes ranging from approximately 1,192 to 1,379 square feet with two- and three-bedrooms, 2 baths plus a powder room and two-car attached garages. Rents are anticipated from $2,600.00 to $2,900.00.
“Town Germann offers a long list of perks for its future tenants: a prime location, spacious rooms, open floorplan designs, private two-car garages with direct access, and highly desirable amenities, said Vince Barbato, Principal of Family Development. Residents will appreciate the privacy of living in a gated, professionally managed neighborhood with a multitude of retail and dining options just minutes away. Plus, its proximity to major freeways, including the nearby 202, will offer convenient access for commuters. Restaurants, shopping, entertainment venues, medical providers and recreational activities are all within walking or biking distance to Town Germann.
We were immediately inspired by Family Development s innovative vision for this community, said Ron Gonski, Senior Vice President of Growth at Mosaic. As the Build-to-Rent market evolves, Family Development has keyed into what today s renters really want, like an outstanding location and top-tier amenities that cater to their everyday lifestyles. This project s scale and quality make it an ideal match for Mosaic s innovative, technology-enhanced general contracting platform.
Behind its private gates, Town Germann s sought-after amenities will include a central resort pool and spa, barbecue area, fitness center, large central park, ramada, dog park, multiple pocket parks and walking trails.
“We believe that Town Germann will be one of the most coveted luxury lease addresses in Gilbert, said Barbato. From community perks to its ultra-convenient location in the heart of Gilbert, every detail has been thoughtfully plotted with today s discerning renters in mind. Mosaic’s vastly experienced team understood our vision, and as we learned more about the company’s approach to construction, Mosaic became the obvious choice to help us bring this project to life.”
Family Development and Mosaic operate at the leading edge of the build-to-rent industry, with Family Development completing multiple projects in the space already. The companies bring to their collaboration vast experience in multiple locations and a shared vision about innovation and quality in the build-to-rent space. As both companies expand their geographic footprint, they will seek additional opportunities to collaborate.

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