NEW YORK, NY – MC Real Estate Partners MCRE) and Tokyo Trust Capital (TTC) announced the acquisition of The View on Nob Hill Apartments, a 416-unit apartment complex ideally located in southern Westchester County, NY through on off-market transaction on behalf of a large Japanese financial institution. With demand for stabilized investments in the US increasing, MCRE and TTC expect that this is the first of a series of investments in the multi-family segment tailored to their Japanese capital relationships.
The apartment complex, situated on 24 acres overlooking the Saw Mill River Parkway in Elmsford, N.Y., was bought from an Ares Management investment fund. Currently 97% leased, The View on Nob Hill represents one of the best located apartment complexes in the county, with 20% of the apartments targeted for families earning 60% of the area’s median income. The property provides unparalleled access to the Saw Mill River and Sprain Brook Parkways, Interstate 287 and the New York Thruway, and is surrounded by a multitude of shopping and dining options. The White Plains and Tarrytown Metro North stations are each less than a ten-minute drive away. On-site property management services will continue to be provided by Lincoln Property Company.
This transaction is the third collaboration between MCRE and TTC, and their first multifamily deal together. MCRE continues to grow its multifamily activities as a complement to its already strong office property footprint in the New York, Boston, and D.C. markets. TTC, which is currently completing a large multi-family portfolio acquisition in Japan, makes its first foray into U.S. multifamily with The View on Nob Hill deal.
“MCRE targets acquisitions that precisely reflect the investment objectives of our institutional and private capital relationships. When TTC reached out to us about this mandate and we started the search process with both brokers and principals on the sell side, we quickly identified The View on Nob Hill as an ideal fit. Ares has done a terrific job restoring the property to its proper place as an vital, mid-market option in Westchester. We look forward to building upon their efforts to provide solid and attractive housing for the residents,” said Andy Nathan, managing principal of MCRE. “We are thrilled to be completing our third transaction with our friends and colleagues at TTC. Our activities together across markets and property types showcase the nimble approach we bring to solving the needs of our investment partners, including those overseas, to whom we bring both local expertise and a unique understanding of cross-border transactions.”
Minoru Machida, CEO of TTC added, “TTC is pleased to see yet another successful investment of Japanese capital in the US real estate market. The US real estate market is very attractive to Japanese investors due to unparalleled transparency and liquidity, backed by the most vibrant economy in the world. With the help of our dear friends at MCRE, we look forward to making more investments not only in multifamily but also in office and other asset types in key markets in the US.”

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PHOENIX, AZ – Link Senior Development and The Roxborough Group, announce the acquisition of Park Terrace Senior Living, an amenity rich, 301-unit independent living and helped living community in Phoenix, Arizona.
“Park Terrace is an exciting venture for Link as we plot for the next chapter of this thriving community by pulling from our extensive experience developing and operating in Arizona. As a 300-unit hub in Phoenix, Park Terrace will accelerate our operational integration in Arizona enhancing the life of our residents and providing benefit to all project stakeholders through greater efficiencies,” noted Ron Ziebart, principal at Link Senior Development.
The 15.3-acre campus features expansive outdoor communal areas including a resort-style pool, putting green, walking paths and tennis court, set amongst 12 residential buildings featuring one- and two-bedroom units. Link and Roxborough intend to invest more than $3 million to enhance the facilities, programming, food service and overall resident experience. The partnership will also focus on making the community more sustainable by increasing water and energy efficiencies.
“The substantial demand and need in the North Phoenix market for competitively priced independent living units are a very compelling tale for us,” said Matthew McCormick, managing director for The Roxborough Group. “In addition, we are very bullish on the senior living space as it recovers from COVID-19. Changing demographics and an on-coming “silver tsunami” make a unique opportunity to buy communities well below replacement cost with favorable trends. We look forward to working with Link to enhance the amenity base and service offerings for residents of Park Terrace.”
Park Terrace is Link’s eighth senior living project in Arizona and third under management through its vertically integrated operations division. Link has invested in bolstering its acquisitions platform with multiple acquisitions in Arizona, Oregon and Idaho over the past six months.
The acquisition marks Roxborough’s entry into the senior housing market and its fourth investment in the Phoenix area as it invests Roxborough Fund III, a diversified investment fund focused on value-add investments.
JLL worked on behalf of Link to source debt and equity partners to provide execution certainty in a tight timeline transaction.

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CUMMING, GA – Leading national multifamily real estate developer Wood Partners announced the groundbreaking of its latest high-end residential community, Alta North, less than an hour from downtown Atlanta in Cumming, Georgia. The new community will be developed as a joint venture with CP Capital US, a highly disciplined U.S. real estate manager specializing in multifamily investments. It is scheduled to open in late 2023 with pre-leasing officially starting in Fall 2023.
Situated at the intersection of GA 400 and Settingdown Circle in Forsyth County, Alta North will provide future residents with an array of nearby dining and retail options, as well as access to Atlanta’s city center less than an hour away. The forthcoming community will be part of a larger plotted development, which will bring more than 15,000 sq. ft. of commercial space and a new public road connecting the adjacent residential development to the north to Settingdown Circle.
“Atlanta has been one of the country’s best performing rental markets since the onset of the pandemic, due to the region’s strong economic growth and in-migration,” said Kristi Nootens, Vice President of Investments at CP Capital US. “We are excited to continue our long-standing partnership with Wood Partners to deliver a top-tier multifamily project in the booming market of Forsyth County.”
Once complete, Alta North will feature 310 one- and two-bedroom apartment homes across a combination of 3-tale and 3/4 split buildings. Boasting luxurious, modern finishes, each of Alta North’s apartment homes will come outfitted with rich wood-style plank flooring, top-of-the-line stainless steel appliances including microwave hoods, undermounted single bowl sinks, and designer tile backsplashes to offer residents a relaxing and welcoming place to call home. Additional high-end features include full-sized in-home washer and dryers and gorgeous granite countertops in both the kitchen and bathrooms.
Outside of their homes, residents will be able to take advantage of Alta North’s best-in-class community amenities, including a resort-style swimming pool with a tanning ledge, multiple grilling stations and fire pits throughout the property, and an on-site pet park and pet spa. Within the community clubhouse, residents will also have access to a 24/7 state-of-the-art fitness center, lounge and social gathering areas, and rentable office spaces for co-working.
“Wood Partners is thrilled to continue its expansion within the Metro Atlanta market with the groundbreaking of our newest community—Alta North,” said Bennett Sands, Managing Director. “Alta North presents a prime opportunity for Wood Partners to capitalize on the on-going growth across Georgia, and we look forward to continuing to play a positive role in the area’s development by delivering Wood Partners’ signature mix of comfort and luxury to future residents.”

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