RICHMOND, VA – 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 Tapestry West, a 262-unit Class A multifamily community in Richmond, Virginia. The community was bought on behalf of CS1031 Tapestry West Apartments, DST.
“Capital Square is bullish on the Richmond market. The local economy is well known for its strength and stability,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This is Capital Square’s thirteenth acquisition of a multifamily community in the Richmond MSA. This is our home court. We aim to own the home court by acquiring best-in-class apartment communities.”
Located at 2031 Maywill Street, Tapestry West is located in the midst of one of the city’s most vibrant areas and features exceptional community amenities that include: a resort-style swimming pool and large sundeck; an outdoor kitchen and lounge area; a state-of-the-art fitness center; a yoga studio; a bike repair station; a pet spa; a meditation room; a package center; and a clubhouse that features billiards, a coffee bar, business center and co-working stations.
The property is in close proximity to midtown Richmond and the emerging neighborhood of Scott’s Addition, which features 13 breweries, cideries and distilleries, as well as a host of restaurants, night spots and newly developed luxury multifamily communities that cater to a growing number of millennial residents and empty nesters. Established in 1901, Scott’s Addition is a historic area that is now one of Richmond’s fastest growing neighborhoods. Once primarily a hub for industrial buildings and businesses, Scott’s Addition is now home to nationally recognized restaurants, rooftop bars, a boutique bowling alley, cinema, shuffleboard bar, retail shops and more. The area is conveniently located with ready access to several Interstates, including I-64, I-95 and I-195, providing ready access to all of Greater Richmond and the city’s thriving employment base.
“Tapestry West, in our opinion, is an exceptional, luxury multifamily property that caters to Richmond’s thriving population of young professionals who demand high-end finishes and luxury amenities,” said Whitson Huffman, co-chief executive officer. “Greater Richmond is one of the Southeast’s most attractive areas, with a highly educated workforce, a growing economy and a diverse industrial sector. Richmond is flourishing by nearly every measure and Capital Square is excited to be a part of its growth and vibrant future.”

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ALAMEDA, CA – Rosefield Village was developed by Island City Development, an affiliate of the Housing Authority of the City of Alameda (AHA). Rosefield Village provides 92 affordable apartment homes for families in a warm and friendly environment. The site is a prime example of how redevelopment of existing properties can provide opportunities to increase the number of affordable homes—originally, Rosefield Village property had 53 units. The 2.4-acre property is located at 727 Buena Vista Ave, in an amenity-rich neighborhood, one block from the Webster Street commercial district.
“With stellar complexes such as Rosefield, the Housing Authority of the City of Alameda and its affiliates seek to double their affordable housing footprint in the City of Alameda over the next decade,” says Kenji Tamaoki, Board President, “This development moves us forward in our goal to serve more Alamedans.”
Rosefield Village makes a historical nod to the location through its elected name. The site is the former location of the first Rosefield Packing Company food processing plant built circa 1915. In 1932, Mr. Rosefield patented a process for making homogenized peanut butter making the first Skippy peanut butter! The factory was bought in 1955 and officially closed in 1974. Four years later, AHA bought the site and used the building as the home office and maintenance facility. In the 1980’s the Eagle Avenue Modular developments were completed, replacing what had once been dilapidated housing for military personnel unused since WWII.
Post-new construction and renovation in 2022, Rosefield Village now serves twice as many families. Rosefield Village incorporates significant green building techniques and universal design strategies to maximize livability and visit-ability for households with an array of family sizes, age ranges, and talents. This building was designed with sustainability in mind and is in-process of obtaining Green Point Rated Gold certification – an industry standard for sustainable development. Rooftop solar panels will provide energy to offset 20% of common area energy usage. Rosefield Village has Bay-Friendly rated landscaping which incorporates practices of water saving, maintenance labor savings, non-toxic weed suppression, reduction of run off, and potential greenhouse gas reduction are throughout the property. Additionally, flooring throughout the building is made of sustainable materials; energy efficient lighting is throughout; and all appliances are modern energy efficient models.
“The City of Alameda is pleased that the innovative transformation of Rosefield Village, located in the vibrant West End District, has made nearly twice as many affordable apartments as the original project, at a time when affordable housing is desperately needed” says Mayor Marilyn Ezzy Ashcraft.
The Housing Authority is pleased to be able to provide the City of Alameda with ninety-two additional affordable Family apartment homes and appreciates all who have been involved in the process. Thank you especially to the Alameda City Council for its continued support of affordable housing and to the City staff who worked alongside Housing Authority staff from the project’s first development applications through lease up.
This $72 million dollar investment would not be possible without numerous funding partners – The land is owned by the Housing Authority of the City of Alameda, and its development partner, Island City Development, is the sponsor and developer. Funding includes 4% Low Income Housing Tax Credits with Tax-Exempt Bond financing and State Tax Credits from the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee, Alameda County A1 funds, former redevelopment funds from the Alameda Unified School District passed-through the Housing Authority, additional Housing Authority funds, CDBG, HOME funds, a City of Alameda fee waiver, a project based voucher contract from the Housing Authority, and loans from Bank of America, N.A. and Greystone Servicing Company LLC. The tax credit investor is Enterprise Housing Credit Investments, LLC. The project is income and rent-restricted for at least fifty-five years.
“It has been a pleasure to enter this long-term investment in quality affordable homes for families in Alameda,” says Vice President of Investment, Phillip Porter of Enterprise Housing Credit Investments, “Enterprise targets quality affordable homes in such transit-oriented, sustainable, and higher opportunity locations.” Gioia McCarthy, Bank of America President San Francisco – East Bay, adds, “Congratulations to Island City Development and AHA for the successful completion of this significant construction project. Rosefield Village is a fantastic example of the impact that public-private partnerships can make in making quality affordable housing for those most in need.

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AUSTIN, TX – Palladius Capital Management, a vertically-integrated real estate investment manager focused on pursuing multifamily, student housing, hospitality and select thematic investment strategies, announced the acquisition of Citizen House Kyle, a 342-unit Class A multifamily asset in the high-growth South Austin suburb of Kyle, TX.
Located along the I-35 Innovation Corridor, Citizen House Kyle was completed in 2022 and is part of the larger Dry River District – a 65-acre mixed-use community being developed by Endeavor that includes multifamily, medical and retail space. The property offers luxury one- and two-bedroom units and an array of state-of-the-art amenities, including a resort-style pool, resident clubhouse, high-tech fitness center, outdoor lounge, and co-working space.
This transaction represents a win-win scenario for Palladius and Endeavor, said Nitin Chexal, CEO of Palladius. Endeavor was able to efficiently monetize its investment in a pre-stabilized property and Palladius was able to buy a high-end apartment community in a market that s experiencing rapid population growth. Leasing up pre-stabilized Class A multifamily assets is a strategy that we re focused on expanding, and we look forward to establishing similar partnerships with other merchant builders in our target markets.
Chexal and Director of Investments Nick Maupin, who led the Citizen House Kyle transaction, as well as the rest of the Palladius team have significant experience investing along the Innovation Corridor, having deployed more than $350 million across value-add and core-plus rental housing in this region since 2014. The firm believes the explosive growth from the corridor s main metros will continue to spill over into surrounding areas like Kyle, which has seen its population increase over 85 percent since 2010. Further demonstrating the area s strong fundamentals, Hays County – where Kyle is located – was ranked as the second fastest growing large county in the country according to U.S. Census Bureau data.
Nelson Crowe III, Principal at Endeavor Real Estate Group, commented, Citizen House Kyle is an integral part of our mixed-use development, Dry River District, serving the Kyle community. The Palladius team, specifically Nitin and Nick, were a pleasure to work with on this transaction. From deal awarding to closing, they never wavered even in a challenging debt market and provided flawless execution. We look forward to continuing to develop and deliver Citizen House communities across the Austin MSA and look forward to working with Palladius on future opportunities.
The Innovation Corridor s growing population has led to increased demand for high-quality rental housing like Citizen House Kyle as the prices for single-family homes in the area continue to rise. Citizen House Kyle is located 15 minutes from Austin s central business district and 15 minutes from San Marcos – two major employment centers that are home to companies like Amazon, Tesla, Seton Medical, HBO, Best Buy and H-E-B. The property is within walking distance of over 300,000 square feet of retail space, including a Starbucks, Home Depot, Costco (under construction), a variety of dining options, and Evo Entertainment, a 75,000 square foot entertainment center with eleven screens, a 14-lane bowling alley, and an arcade.

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