DALLAS, TX – Crow Holdings, a leading national real estate investment and development firm, announced that its multifamily development company, Trammell Crow Residential (TCR), has partnered with Boston-based Marcus Partners to develop Alexan Harrison, a 450-unit luxury multifamily residence in Harrison, New York. This latest community under the Alexan brand marks Crow Holdings and Marcus Partners first New York State multifamily project.
Alexan Harrison, a five-tale wrap-style community, will consist of two buildings with distinct design aesthetics – one with urban characteristics and the other with a more country feel – as well as approximately 6,000 square feet of retail space between them. Each building will feature its own 10,000-square-foot clubhouse and resort-style pool area. Located at 3 Westchester Park Drive in New York s Westchester County, the project started construction in August and is expected to be completed in April 2024. Alexan Harrison will offer market-rate and affordable units including studios, one-bedroom, two-bedroom, and three-bedroom layouts ranging from 507 to 2,135 square feet.
Each residence will feature modern open floorplans, nine-foot ceilings, stainless-steel appliances, granite countertops in kitchens and bathrooms, full-size washer/dryers, custom closets, tiled bath surrounds, hardwood flooring, and key-fob access. Select units will have private balconies and walk-in closets, and other select units will offer townhome-style direct entry to the community s central drive.
First-class amenities include a speakeasy-style resident lounge, state-of-the-art fitness center, dog wash and parks, bike storage and maintenance rooms, half-mile walking trail around the property, game rooms, libraries, garden courtyard, rideshare waiting rooms, business offices with private office spaces, wellness center, conservatory, grilling stations, outside pizza ovens, and mail center, complete with Amazon parcel lockers.
Alexan Harrison is a small, 10-minute drive from the White Plains train station, which offers quick, direct service to Manhattan s Grand Central Station. Residents will have access to employment and lifestyle amenities, including the nearby headquarters of PepsiCo, Mastercard, HistoGenetics, and other corporations. The property abuts a 206,000-square-foot Lifetime Fitness Center, and a Wegman s grocery store is located next door.
Our alliance with Marcus Partners is a collaborative effort that resulted in a strong community design, said Andy Huntoon, TCR s Northeast Managing Director. Alexan Harrison is our first foray into New York s Westchester County – a proven market with a rich tradition of suburban life offering access to abundant corporate headquarters and an brilliant school system. We are building something special here – a place that residents will be drawn to, with community and warmth in a vibrant and exciting area.
Multifamily has become a critical part of our investment strategy, and it is ideal that Westchester County is home to our first multifamily development in New York, said Marcus Partners Principal David Fiore. The collaboration between Trammell Crow Residential and Marcus Partners is yielding – without question – a best-in-class multifamily project in a prime residential market.
TCR has developed more than 865 luxury residential communities under its Alexan brand. In the Northeast, these include Alexan 3 North in Billerica, MA and Alexan Wrentham in Wrentham, MA. Alexan Kingston in Kingston, MA is under construction. Four additional Northeast projects with more than 1,000 apartments are currently in development.
With 11 regional offices, TCR is a market-leading developer of premier, amenity-rich multifamily communities that has delivered nearly 260,000 apartments over the span of 40 years. In addition to the Alexan brand of luxury apartment communities, TCR also builds attainable housing through its latest multifamily brand, Allora, aimed at delivering high-quality, affordable apartment homes to growing communities of middle-income families across the United States.

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RALEIGH, NC – Blue Heron Asset Management announced, on behalf of its third fund, Blue Heron Real Estate Opportunity Fund III, that it has closed on the sale of the Indigo Apartments. Blue Heron was represented by NorthMarq in this transaction. The 489-unit, 2005-built multifamily community is in the Brier Creek/Research Triangle Park submarket between Raleigh and Durham, NC.
Blue Heron bought Indigo in December 2018 in an off-market transaction, and, shortly after taking ownership of the property, commenced a community enhancement plot that included the renovation of apartment interiors and an expansion and upgrading of the common area amenity spaces. Thoughtful property management and property-wide enhancements led to strong resident satisfaction and retention throughout Blue Heron’s ownership.
The transaction closed on October 12th, 2021, at a price of $121.9 million, resulting in the largest realization in Blue Heron’s history, the largest single-property, conventional multifamily transaction in North Carolina so far in 2021, and the largest in Raleigh-Durham ever-to-date.
“Our experience at Indigo is a testament to developing solid business plans, executing, making partnerships, and operating in vibrant growing markets. We couldn’t be prouder of our team that delivered exceptional results at the property for our residents and investors,” said Michael Eubanks, a partner at Blue Heron. “We want to express our deepest gratitude to everyone we worked with along the way who had a hand in this successful outcome.”

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ROCKVILLE, MD – Comstock Holdings Companies announced the acquisition of The Upton, in a joint venture between CHCI and Comstock Partners, LC, an affiliated, privately-held company. The 15-tale, luxury high-rise apartment building is located at 44 Maryland Avenue in Rockville, one block from the Rockville Metro Station in the heart of the I-270 Technology and Life Science Corridor in Montgomery County. Built in 2015, the 263-unit mixed-use property includes approximately 16,000 square feet of retail and a commercial parking garage. CHCI received a $500,000 acquisition fee in connection with the transaction and will also receive investment related income and incentive fees in connection with its equity interest in the asset. In addition, its wholly owned residential, retail, and parking property management subsidiaries will provide management services for the property in exchange for market rate fees.
CHCI will rebrand The Upton, as BLVD Forty Four, with newly renovated amenity areas and signage. The property offers a mix of unit types and floor plans ranging from studio, one bedroom, and two-bedroom apartments with two floors of indoor/outdoor amenity spaces, in addition to an expansive rooftop deck that provides unparalleled views of the skylines of Tysons and Reston, as well as the Blue Ridge Mountains. The retail space is anchored by Panera Bread, WesBanco and World of Beer.
This acquisition represents our commitment to expansion of our BLVD portfolio of best-in-class mixed-use apartment properties in transit-oriented locations that offer upscale urban lifestyle, proximity to major employment centers and ease of access to downtown Washington, DC and the entire Washington Metropolitan region said Chris Clemente, CEO of CHCI. As demonstrated by our ability to entitle, develop, and buy in-demand real estate assets in areas with barriers to entry, coupled with the significant development pipeline we control in the high growth Dulles Corridor, I am confident that CHCI is well-positioned to continue expanding assets under management and its recent pattern of growth of profitability .
Cushman & Wakefield represented the seller, Duball, LLC and arranged the debt for the buyer. Jorge Rosa, TJ Liberto, Shaun Weinberg, and Bill Collins handled the sale and Marshall Scallan and Michael Zelin led the financing. Bill Collins commented The Duball team is a valued client of ours and they did a fantastic job developing The Upton which is a perfect fit for Comstock with their focus on high quality, transit-oriented investments. This is the second large deal we ve closed with the Comstock team and we re looking forward to completing more in the future as they accelerate their acquisitions program.
This transaction brings CHCI s acquisition volume of income-producing properties to nearly $400 million since 2019. CHCI s management expertise of mixed-use residential, retail, and office properties, and commercial parking garage operations makes this latest acquisition an immediately synergistic addition to its managed portfolio. With its continuing focus on such immediately accretive acquisitions as well as continuing development of its extensive controlled development pipeline, CHCI continues to significantly increase its total assets under management in accordance with its long term growth objectives.

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