PHOENIX, AZ – Triumph Properties announced it has closed an $82.5mm total capitalization of a 287-unit multifamily development project, Aileron, located in the booming North Phoenix submarket. The land parcel of 9.87 acres was bought from Moderne Capital Partners, who will be Triumph’s development partner on the deal.
Triumph believes that Aileron’s location will benefit from the continued growth of the north Phoenix market including notable job announcements like the Taiwan Semiconductor Manufacturing Company (TSMC), who announced plans to open a 1,129 acre $12 billion factory. Aileron is 1 mile south of the Deer Valley Airport where Cox communications and Honeywell Aerospace have strong employment centers. Other notable nearby employers are Learn, Safeway Corporate and Albertsons.
Aileron will feature a mix of studios, one-, and two-bedroom units averaging 842 square fee. Unit finishes will include vinyl plank and carpet flooring, quartz countertops, tile backsplashes, wood cabinets, stainless steel appliances, in unit laundry, air conditioning and more. Amenities will include, pool, spa, clubhouse, fitness center, BBQ area, secured access and package center.
“We are excited about this project and our partnership with Moderne. Each of Moderne’s Partners brings tremendous experience and value to the table. We believe this will be the first of many projects together”, said Steve Feder, Principal at Triumph Properties.
“We are looking to make more strategic partnerships like we did on Aileron in the Southeast and Southwest as we expand our development pipeline. Suburban, garden-style apartments, surface parked or wrap product are what we are focused on”, adds Blake Brewer, Director of Acquisitions at Triumph Properties.

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KANSAS CITY, MO – Sherman Residential bought its third asset in the Kansas City metropolitan area, Kinsley Forest luxury apartments, a 2017-constructed Class A multifamily community located in Kansas City, Missouri.
The 328-unit property is located within 15 minutes of the Kansas City International Airport, downtown, and many top employers, including Cerner, T-Mobile, and the Social Security Administration. The Lakeview Terrace neighborhood gives students access to the NKC School District and several universities.
A northern Kansas City tree line surrounds this garden-style property and its inviting list of amenities, including: One to three-bedroom apartments with elevator access; Privacy conveniences such as in-unit washers and dryers, personal patios/balconies, and garages; The expansion of one s home into a welcoming clubhouse featuring a full demonstration kitchen, media lounge, and private conference room; Comprehensive community amenities, such as a 24-hour state-of-the-art fitness center with on-demand fitness, cabana-lined pool, outdoor fireside lounge, and gated pet park; A perfectly balanced location nestled within Northland forestry and just a minute from the entrance to Highway 169.
Garrett Salk, Sherman s Vice President, states: We are excited to expand our portfolio in the Kansas City market. The asset’s proximity to downtown and many of KC’s top employers drove us to pursue the property. We look forward to continuing to seek high-quality apartment communities in the KC market.
Sherman Residential has owned and professionally managed over 80 properties, including Kinsley Forest, and is currently celebrating its centennial year. Since 1922, the family-owned company, headquartered in north suburban Chicago, has successfully managed a nationwide portfolio of multifamily properties.

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DALLAS, TX – S2 Capital announced it has bought Residences at Preston Park, a 266-unit multifamily community in Plano, Texas. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not told.
Residences at Preston Park is a three-tale garden/townhomes style apartment built in 1995, set on approximately 15 acres, with an average unit size of 1,114 square feet. S2 Capital is poised to elevate the property’s renter profile via hands-on residential management, asset management, and construction management. The proposed interior and exterior renovation plans anticipate spending just over $4 million to make select premium renovations.
Located at 4701 Preston Park Boulevard, the property provides residents access to the highly ranked Plano Independent School District and is convenient to major employment nodes such as Legacy, Frisco, Uptown/Downtown Dallas, Las Colinas, DFW Airport, and the Platinum Corridor. In 2021, the Plano submarket saw nearly 98% average occupancy and 21% annual rent growth, driven by a growing population attracted by job opportunities and the area’s robust economic recovery.
“From the start of our discussion on Residences at Preston Park, we have been impressed by the property’s significant value-add opportunity,” said Ryan Everett, VP of Acquisitions at S2. “We believe our investment will benefit both the local residents and our investors. We are also bullish on West Plano’s apartment market, which is driven by steady occupancy rates and record-breaking demand for the whole Dallas-Fort Worth region.”

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