LONG BEACH, CA – MWest Holdings, a Los Angeles-based real estate company with over 2 million square feet of residential and commercial property across the U.S., announced that it has bought 442 Residences, a five-tale, 94-unit multifamily asset in Downtown Long Beach.
“We are thrilled to expand our California portfolio in the Long Beach submarket. With a prominent location in a growing metropolitan market, nearby business centers, and public transportation, 442 Residences provides quality housing for this dynamic area. It also has abundant outdoor amenity spaces and refined interiors that are attractive to residents of the community,” said Karl Slovin, President of MWest Holdings.
Built in 2019, 442 Residences is comprised of studio, one- and two-bedroom loft-style units ranging from 524 to 1,043 square feet, with 9’9″ to 11’1″ ceiling heights, oversize balconies and wrap-around outdoor terraces, designer kitchens, washer and dryers, keyless entry doors, and smart thermostats.
Residents have access to an array of high-end amenities including an ocean view roof deck, outdoor movie lounge, a hotel-inspired lobby, outdoor yoga and cardio areas, a state-of-the-art fitness studio, secure underground parking with EV charging stations, and an onsite bike share and e-scooter hub.
Located in the center of Downtown Long Beach, 442 Residences is well-positioned in a walkable neighborhood with a variety of nearby shopping and dining options, and a thriving area for business. It is directly across from the new Long Beach Civic Center, home of City Hall, Port of Long Beach headquarters, and the Main Library.

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NEW BRAUNFELS, TX – Embrey has closed on the land buy for Collection at Gruene, marking the first project for the company’s newly launched single-family rental platform. Embrey’s single-family rental program will consist of one- and two-tale homes within a rental community with best-in-class amenities and professional property management. Embrey’s plot includes 126 duplex-style homes, with 252 units.
The deal was financed by PlainsCapital Bank, one of the largest banks in Texas, based in Dallas.
“This is an exciting offering for Embrey that expands our current portfolio of luxury living experiences beyond traditional multifamily residences,” said John Kirk, Managing Director and Executive Vice President of Development for Embrey.
Gruene, a historic area of New Braunfels, sits just off the I-35 corridor between Austin and San Antonio, Texas, in the second-fastest growing market in the U.S. according to the U.S. Census Bureau.
“The single-family rental living experience is highly desired by today’s discretionary renter,” said Jeremy Williams, Senior Vice President of Development for Embrey. “We have a premier location where residents can walk to historic downtown Gruene. The community is easily accessible to both Austin and San Antonio and close to local attractions like the Schlitterbahn Waterpark & Resort and the Guadalupe and Comal Rivers.”
The unique community will feature granite countertops; stainless steel kitchen appliances; washers and dryers; private driveways; fenced yards and attached garages with EV car charging outlets. Built-in desks and walk-in showers are available in select units.
Resident-accessible amenities include a private community clubhouse with a media room; a fitness center connected to an outdoor exercise and yoga lawn; a resort-style pool with sun decks, cabanas, and shade trellis lounge areas; outdoor grilling, fireplace and dining areas; and a large, fenced dog park.
Club and first-units are expected to be available first quarter of 2023. Construction of all units is expected to be completed by early 2024.

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CHARLOTTE, NC – Canada Pension Plot Investment Board (CPP Investments) and LMC, a wholly-owned subsidiary of Lennar Corporation (NYSE: LEN and LEN.B) and a leader in apartment development and management, have formed a new joint venture to develop Class-A multifamily residential communities across high-growth metropolitan areas in the U.S.
CPP Investments and LMC have allocated $979 million in equity to the joint venture. CPP Investments will own a 96% stake and LMC will own the remaining 4%.
“This investment is an brilliant opportunity to meet the strong demand for high-quality multifamily housing,” said Peter Ballon, Managing Director, Global Head of Real Estate, CPP Investments. “We are pleased to work alongside a best-in-class partner like LMC to continue to build our portfolio of multifamily investments, which we believe will deliver steady, long-term returns for the CPP Fund.”
The joint venture will focus on urban and suburban communities across major U.S. markets exhibiting strong population and job growth. It will also leverage LMC’s extensive development and construction expertise to build multifamily communities at an attractive cost basis, and benefit from LMC’s fully integrated development management, construction management, property management and investment management platforms.
The venture will launch with five seed assets: One in Boston, one in Miami and three in Denver, together totaling 1,371 apartment homes.
“This joint venture specifically targets high-growth markets where the housing supply hasn’t kept pace with renter demand, and we are proud to be part of the solution,” said Todd Farrell, President of LMC. “Our partnership with CPP Investments enables us to deliver on our mission to make extraordinary communities where people can live remarkably. We look forward to delivering on that vision with these five initial assets, as well as all future endeavors with CPP Investments.”

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