NEW YORK, NY – Lightstone, one of the most diversified privately held real estate companies in the U.S., announced the acquisition of a 27-asset multifamily portfolio in suburban Detroit, MI.
The portfolio includes 7,810 multifamily units and an 11,000-square-foot office building spread across 19 different submarkets. Lightstone has successfully owned multifamily properties in Detroit, MI for over fifteen years and continues to operate its assets through Lightstone’s management company, Beacon Management. Lightstone’s business plot includes adding amenities, improving common areas and renovating unit interiors. The transaction will increase Lightstone’s Detroit multifamily holdings from 5,400 units to over 13,000 units, and will grow Lightstone’s national multifamily portfolio to over 23,000 units.
“This strategic acquisition allows us to leverage our experience and long-term success as multifamily investors” said Mitchell Hochberg, President of Lightstone. “We are truly excited to bring these properties into the Lightstone family.”
Lightstone, founded by David Lichtenstein, is one of the largest and most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 25 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 160 existing properties, Lightstone’s over $7.5 billion portfolio currently includes over 6.5 million square feet of industrial, logistics, and life sciences properties, over 23,000 residential units, and over 4,300 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami. Lightstone also owns over 10,000 land lots across the country.

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ANNAPOLIS, MD – Aventon Companies, a prominent, vertically integrated multi-family developer with active projects throughout the mid-Atlantic and Southeast, announced it has begun construction on its latest apartment community in Annapolis, Maryland. Aventon Annapolis, located at 2555 Riva Road, will be a five-tale, 250-unit, amenity-rich apartment community situated on nearly four acres and conveniently located near major Fortune 500 employers, world-class schools and hospitals as well as restaurants and shopping destinations. Aventon Annapolis is being developed through a joint venture with Lake Forest, IL-based private equity firm, Westminster Capital.
The new community will offer spacious studio, one, and two-bedroom floorplans that feature high-end finishes and smart home technology. Designed for simple living, over 15,000 square feet of amenity space includes a resort-style, saltwater pool, game room with activities like pool, shuffleboard and retro arcade machines, fitness center featuring cardio and strength training equipment, as well as private day offices, a conference room and podcast studio. Animal lovers will delight in ample walking space, a dog park, and state-of-the-art pet spa.
“Annapolis is one of the most sought-after submarkets in the DC metro area thanks to its prime location on the Chesapeake Bay, supply constraints, and a booming local economy,” said Mark Coletta, Senior Managing Director for Aventon Companies. “Aventon Annapolis marks our first venture into Annapolis, and we are thrilled to become the premier luxury asset for apartment living in this already prestigious town.”
Aventon Annapolis is currently approved as the multi-family component of a larger mixed-use project which consists of 50,000 square feet of office space and 7,200 square feet of retail space. The project has been designed by SK+I Architecture, Parker Rodriguez, Inc., and Carlyn and Company. In just under three years, Aventon Companies has assembled an impressive $1.5 billion portfolio of ground-up developments bringing nearly 6,000 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic. Aventon Annapolis is slated to be completed in 2023.

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FRISCO, TX – Domain at The Gate, a 350-unit multifamily community in the northern DFW metro region, has been sold by Embrey Partners, LLC. The buy was made by TA Realty and brokered by Walker & Dunlop.
The best-in-class property situated within the prominent mixed-use development, The Gate, will retain the award-winning Embrey Management Services (EMS) to manage the property.
“This is a luxury property in a premier location adjacent to The Star District, home to the Dallas Cowboys and widely known in the area for its simple access to top-quality restaurants and entertainment,” said John Kirk, Managing Director and Executive Vice President of Development for Embrey. “The Frisco area is considered one of the strongest submarkets in the DFW metroplex and a highly desirable location for corporate offices.”
Property amenities include a luxurious pool courtyard with a fully equipped outdoor kitchen, a two-tale fitness center with spin bikes and TRX training equipment, sport simulator and bocce ball court, and a dog park and pet spa for residential pets. Access to a WIFI lounge, bike storage and repair shop, and a controlled access parking garage with electric vehicle charging stations add to the resident-experience.
Residential units include spacious floorplans with 9-foot ceilings, wood-style flooring and kitchens with granite countertops and stainless-steel appliances. Built-in computer desks and bookshelves are also available in select units.

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