ORLANDO, FL – JLL Income Property Trust, an institutionally managed daily NAV REIT with more tham $6.3 billion in portfolio assets and 119 properties, announced the acquisition of Jefferson Lake Howell, a newly constructed, class-A apartment community in the northern Orlando suburb of Casselberry, Florida. This amenity-rich, lakefront, 384-unit garden-style apartment community was bought for approximately $154 million.
“This addition to our growing residential portfolio, an overweight portfolio allocation for us, aligns with our strategy to invest in well-located communities with strong demand drivers and high barriers to entry for new competition,” said Allan Swaringen, JLL Income Property Trust President and CEO. “The community’s proximity to high paying employment centers and top-rated schools, limited supply of competitive properties along with minimal developable land in the area for new apartments, along with the region’s consistently low vacancy rates made this an attractive investment that we believe will drive long-term, stable cash flow for our portfolio.”
Swaringen also noted, “Orlando apartment demand was highly resilient and remained positive even during the pandemic-induced recession of 2020, despite deep job losses due to a decline in tourism. Then, in 2021, occupied units grew by a record 7 percent and rents increased 26 percent ranking seventh for recent rent growth among 162 markets tracked by LaSalle.”
Located less than 10 miles north of Downtown Orlando, Jefferson Lake Howell provides residents with simple access to highways serving major employment and transportation nodes via Interstate Highway 4 and State Road 17, along with nearby retail amenities including a Publix-anchored shopping center, a Walmart Supercenter and numerous dining and entertainment options.
The Orlando apartment market is a LaSalle Research & Strategy recommended overweight for core investment given its strong in-migration trends, limited for-sale housing stock and record-low residential vacancy rates. Orlando’s population is forecasted to grow 1.9 percent through 2026, well above the US average of 0.7 percent, while vacancy currently sits at a record-low 2.1 percent, below its 20-year average of 5.6 percent. The property is also within three miles of highly rated schools that are part of Seminole County’s school system, which ranks in the top five in Florida.
JLL Income Property Trust’s aggregate residential allocation is now over $2.7 billion, with more than 9,900 residential units across 24 apartment communities and a 14-market single-family rental portfolio representing 43 percent of its $6.3 billion property portfolio.

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PRINCETON, TX – HLC Equity, a national real estate investment and property management firm, has announced the buy of Southgate Apartments, a 156-unit, new construction community located in Princeton, Texas.
Southgate Apartments, the latest Class A acquisition for HLC Equity, is located adjacent to the high growth McKinney area of Dallas. The city is undergoing significant economic expansion due to growth in key industries. For the past decade, McKinney has maintained a consistent presence on the list of fastest growing cities in the nation.
The Southgate Apartments community was completed in Q1 of 2022, when HLC Equity secured the off-market opportunity from a relationship with the developer, who specializes in the local DFW market. Inheriting the lease-up component has allowed HLC Equity to generate a better yield and is expected to stabilize at a 5% cap rate. The property offers residents exclusive, never-lived-in units plus a variety of distinguished amenities. From an expansive resort-style pool and clubhouse to a state-of-the-art fitness center and a dog park, Southgate provides residents with a heightened experience, regardless of their style or preference.
“We are excited to add Southgate to our expanding Dallas portfolio. This opportunity was sourced off-market through our relationships with an experienced local developer. This community hits right in our target of acquiring high quality assets in growing markets with the high potential to outperform.” commented Daniel Farber, CEO of HLC Equity.
Southgate Apartments will be managed by HLC Equity’s internal property management team and will implement many features developed by its Layers brand. Layers endeavors to increase property value and resident experience by providing certain unit upgrade options, integrating the company’s innovative technology and offering onsite/offsite services to further benefit residents and community at large.

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SAN ANTONIO, TX – Embrey, a diversified real estate investment company that owns, develops, builds, buys, and manages multifamily residential communities and commercial assets in targeted markets across the United States, announced the final closing of Embrey Horizontal Living Fund I, a $160 million discretionary equity fund to support the development of a portfolio of build-to-rent projects, an emerging and highly desirable concept in the multifamily industry.
Led by Fortune 100 institutional investors, the fund is the foundation for $500 million in build-to-rent projects that Embrey will start over the next two years. Initial developments will break ground in Texas markets in the coming months, with expansion to other Sunbelt markets to follow.
The communities are typically 200-300 units and are comprised of duplexes and townhomes with one-, two-, and three-bedroom floorplans. Units have individual yards and private garages, and the communities include amenities such as pools, clubhouses, fitness centers, dog parks, and full-service management.
“This is a major step in Embrey’s goal of expanding our fund platform,” said Garrett Karam, Embrey’s Chief Investment Officer. “We’ve invested heavily to make the team and the capabilities necessary to raise and service institutional-level funds.”
“The structure of the fund entrusts Embrey to manage the capital for maximum return,” said Karam. “That trust is based on a nearly 50-year track record of maximizing value for our investors and operating with the highest level of integrity. We appreciate the confidence our institutional and private capital partners have shown in us, and we expect those relationships to grow within our fund platform.”
Karam said Embrey sees brilliant investment opportunities for the fund and has a strong development pipeline in place.
“We expect to scale our fund platform in the coming years and are excited by the growth that lies ahead,” Karam said. “We have strong conviction that the multifamily sector will continue to produce opportunities for outsized returns, and we are focused on making investment vehicles that will enable our partners to benefit from robust growth in the sector and in our company.”

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