COLUMBIA, SC – Lincoln Avenue Capital, a mission-driven acquirer and developer of affordable housing, announced that it bought Wyndham Pointe Apartments and will continue to reserve 100% of the units for low-income residents in the Columbia community.
“Lincoln Avenue Capital is proud to continue growing our nationwide affordable housing portfolio in communities where quality, sustainable homes are needed,” said LAC CEO Jeremy Bronfman. “This acquisition preserves affordable residences and improves the environmental profile of Wyndham Pointe.”
Columbia has limited affordable housing options for individuals and families. The statewide affordable housing crisis has made long waiting lists for housing relief and a financial burden for residents whose wages have not kept pace with escalating rents in South Carolina. Data shows that the cost of a one-bedroom apartment in Columbia increased 21% over the course of a year.
“Our investment will preserve the affordability of Wyndham Pointe for generations of Columbia residents to come,” said LAC Associate Brian Moloney. “We are excited to use this opportunity to make a more sustainable property.”
As part of Lincoln Avenue Capital’s commitment to sustainability and green building practices, the team is incorporating water saving fixtures into Wyndham Pointe. The upgraded water fixtures will reduce water usage on the property by up to 40%.
LAC worked with the South Carolina State Housing Finance and Development Authority (SC Housing) to ensure a safe transfer of ownership for long-term quality homes. The acquisition was financed through a loan from the National Equity Fund, which has supported previous LAC acquisitions across a wide range of national markets.
The property, originally built in 2007, includes 180 units and offers community amenities including an exercise room, clubhouse, business center with computer access, playground, and swimming pool.

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MILPITAS, CA – MG Properties, a private San Diego-based real estate investor, owner, and operator bought Eleanor Apartments, a 333-unit community Milpitas, CA for $193 million.
The community is in a premier Bay Area location defined by strong employment growth and desirability. Eleanor is a transit-oriented mixed use community with 10,000 sf of ground floor retail, completed in 2021. This luxury community has an attractive contemporary design and robust set of common area amenities, and residents can easily access a variety of walkable dining and entertainment options surrounding the property.
“We are pleased to be further growing our long-term presence in the Bay Area, a market that has strong potential for recovery after the impacts of the Covid crisis”, said Jeff Gleiberman, MG Properties’ President.
The sellers, SummerHill Apartment Communities, The Resmark Companies, and Kennedy Wilson, were represented by Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni, and Alexander Tartaglia from Institutional Property Advisors. Financing was provided by Fannie Mae and arranged by Brian Eisendrath and Cameron Chalfant of Institutional Property Advisors.

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HILTON HEAD, SC – ACRE, a global real estate private equity firm, announced it has broken ground on Pepper Hall Multifamily, a high-end 331-unit multifamily property in Bluffton-Hilton Head, South Carolina. The project is being developed in partnership with Charleston, SC-based Southeast Partners. With construction underway, Pepper Hall is scheduled to officially open in Spring 2024.
Located 11 miles west of Hilton Head Island within a newly developed, mixed-use master-plotted community, Pepper Hall will feature a mix of one- and two-bedroom residences, with an average size of 938 square feet. Unit interiors will feature best-in-class finishes and smart-home technology. Residents of Pepper Hall will have access to a full suite of high-quality amenities including a clubhouse, resort-style pool, fitness center, yoga studio with Fitness-on-Demand, and pocket parks adjacent to each building.
ACRE remains focused on identifying unique multifamily and single-family development opportunities in high-growth coastal markets in the Southeast, said Bret Hewett, Vice President of Acquisitions for ACRE. We re very excited to partner with an accomplished firm in Southeast Partners to bring our vision for this development to life, and we’re thrilled to expand our footprint to an under-supplied submarket situated in a region that continues to see healthy economic growth and exceptionally strong demand for affordable high-quality apartments.
Pepper Hall is located less than 20 miles northeast of Savannah, Georgia, in one of the Southeast s fastest growing regions. Since 2000, the market has seen its population increase by approximately 55 percent, as residents continue to relocate to the area due to its attractive lifestyle, access to various outdoor amenities including the Atlantic Coast, and low cost-of-living.
Through a series of equity and debt funds, ACRE manages more than $3.2 billion in assets across private real estate investments and loans. The firm specializes in value-add, multifamily opportunities and invests in workforce and affordable housing assets in strategic growth markets. ACRE s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on making added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties.

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