LONG BEACH, CA – Walker & Dunlop, Inc. announced that it facilitated the $156,000,000 sale and $91,260,000 financing of Volta on Pine, a 271-unit, core multifamily property with 1,300 square feet of ground floor retail space in the heart of Downtown Long Beach, California.
Historically tied to aviation since the days of Amelia Earhart’s 1920s explorations, Long Beach is now coined “Space Beach” and is rapidly becoming the epicenter of the aerospace industry. Startups including Spin Launch, Rocket Lab, and Relativity Space have chosen the area as their headquarters since 2019, providing for a highly active job market in Long Beach.
Volta on Pine will benefit from the recent uptick in Long Beach’s booming job market and provide commuting renters with access to the approximately 950,000 jobs offered throughout Long Beach, Beach Cities, Downtown LA, and Irvine. Delivered in early 2021, the property is a collaboration between North America Sekisui House (“NASH”) Holland JV and MVE + Partners Architects, which both have an expansive presence primarily in the Western Region’s high-growth markets.
Walker & Dunlop’s Blake A. Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs, and Javier Rivera represented the sellers, Holland Partner Group and NASH and in the disposition to the buyer, Gelt, Inc. Mark Grace, John Montakab, and Trevor Fase arranged the financing from Nuveen on behalf of Gelt.
Volta on Pine is ideally situated in the heart of Long Beach’s Downtown, offering residents access to shopping destinations, world-class restaurants, breweries, and various grocery stores. Local attractions also include the Aquarium of the Pacific, Long Beach Convention & Entertainment Center, Long Beach Jazz Festival, Museum of Latin American Art (MOLAA), Lions Lighthouse, and the Long Beach Grand Prix. The property’s outstanding community amenities include a rooftop terrace with ocean views and barbecue stations, executive meeting rooms, a 24-hour state-of-the-art fitness center, sky lounge, pool, and spa. The apartment homes feature best-in-class luxury interior features, including gourmet chef’s kitchens with stainless steel appliances, quartz countertops, spa-inspired bathrooms, and spacious bedrooms.

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PITTSBURGH, PA – Thompson Thrift Residential, a wholly-owned affiliate of Indianapolis-based Thompson Thrift and one of the nation’s leading multifamily developers, announced the development of Prism at Diamond Ridge, a 336-unit, luxury multifamily community located in Moon Township, a thriving suburb of Pittsburgh. Resident go-ins are expected to start in the first quarter of 2023.
“Pittsburgh is one of the fastest growing U.S. cities for tech jobs, and over 50% of the city’s population consists of Millennial and Gen Z residents that are in their prime renting years,” said Brian Southworth, senior vice president of acquisitions, partner. “Our dedication to developing top-notch communities built on modern style, luxury and convenience will provide a welcome new renting option to the area’s growing population.”
Located at 2000 Market Place Boulevard, Prism at Diamond Ridge is conveniently situated near I-376, only 10 minutes from downtown Pittsburgh and near the Pittsburgh International Airport. Additionally, several major employers are in the area, including Cigna, Thermo Fisher Scientific, the FedEx Ground headquarters and Dick’s Sporting Goods’ headquarters.
Sitting on 22 acres, Prism at Diamond Ridge will include 336 one-, two- and three-bedroom apartment homes in a classic three-tale garden style layout. Each home will feature spacious open floor plans with the highest quality finishes including gourmet bar kitchens with quartz countertops and generous cabinet space; tile backsplashes; stainless steel appliances; modern plumbing fixtures; tiled showers with glass doors; 9-foot ceilings with designer light fixtures; wood inspired flooring; walk-in closets; full-size washers and dryers and much more. Residents will also have the opportunity to take advantage of resort style community amenities including a professionally decorated clubhouse, 24-hour fitness center, swimming pool with cabanas, community gardens, fitness trails, bike repair shops and bark parks and doggie spas.
Prism at Diamond Ridge will connect via sidewalk to the Montour Trail, the country’s longest suburban rail-trail, which is a multi-use non-motorized recreational pathway that extends 47 miles from Coraopolis to Clairton.
In addition to its accessibility to many of the region’s top employers, Prism at Diamond Ridge is also in proximity to several national retailers like Costco, Sam’s Club and Lowe’s, as well as regional shopping centers, Robinson Town Centre and The Mall at Robinson, which is anchored by Dick’s Sporting Goods, JCPenney and Macy’s. The property is also located in the highly rated Moon Area School District.
In 2021, Porch.com ranked Pittsburgh as one of the country’s “Best Places to Go After College” and the recent expansions of Uber and Google have served as a major economic catalyst.
Prism at Diamond Ridge is Thompson Thrift Residential’s second community in Pennsylvania, joining Meeder Flats, located in Cranberry Township. Thompson Thrift has made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a range of conventional, luxury leased villa and townhome-style communities. The company recently earned the distinction of being named one of GlobeSt. Real Estate Forum’s Influencers of Multifamily Real Estate for 2021.

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PITTSBURGH, PA – MultiVersity Housing Partners has recently bought The Revival on Carson portfolio. The Revival on Carson is a 47-unit, class A+ conventional housing portfolio consisting of two properties known as The Maul and Nakama buildings. The assets are in one of the city’s most in-demand neighborhoods, Southside.
The properties total approximately 12,750 SF of first-floor retail. These properties have corner frontage on Carson Street which is a historically high foot and automobile traffic area. This core location has attracted long-term retail tenants that have occupied the first-floor retail space for more than 10 years. Not only are the assets located in core locations, but they have undergone complete renovations while maintaining the 1900’s-built historical integrity. These renovations include high-end finishes that enable the properties to achieve premium rental rates.
The modern upscale features include hardwood flooring, expansive kitchens, granite countertops, tile showers, and stainless-steel appliances. Community amenities include two rooftop decks (with views of Carson St and the Pittsburgh skyline), resident lobby, fitness center, individual security systems, and private lot parking.
MultiVersity Property Management will bring their boutique-style approach and expertise in property management to operate this property more efficiently. MVPM will be adding outdoor kitchens to the rooftop decks, additional fitness equipment, a business center, and updated lobby features to enhance the property for residents.
“MultiVersity is excited to be in Pittsburgh’s historic South Side neighborhood,” said Principal of MVHP, Anthony Magnelli. “The Revival’s unrivaled location directly on Carson Street, premium unit features and amenities, and private on-site parking set the asset apart from its competition.”
Christopher Feeley, CEO and Managing Partner of MVHP, is “excited to be adding these high-end apartment assets to its growing portfolio of multifamily properties consisting of market-rate apartments, workforce housing, and off-campus purpose-built student housing.” Mr. Feeley further stated, “we are looking for more multifamily assets to buy within the Pittsburgh market.”

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