CARROLTON, TX – Benefit Street Partners Multifamily Trust, an open-finished, continuously offered, multifamily REIT, announced the acquisition of Olympus on Broadway, a 390-unit class A multifamily apartment community in Carrollton, Texas.
Olympus on Broadway, now rebranded as LYV Broadway, is a newly constructed transit-oriented multifamily community in the heart of Historic Downtown Carrollton, Texas and is composed of studios, one- and two-bedroom units. The highly amenitized asset offers cutting edge luxury with quartz countertops, stainless steel appliances, a dynamic two-tale fitness center, resort style pool, and multiple lounge and courtyard spaces for relaxing, entertaining, or working.
The property also offers 6,048 square feet of live-work space providing residents an opportunity to connect with the neighborhood and the larger Carrollton community. The property s location is within walking distance to lively neighborhood dining and entertainment destinations as well as the Downtown Carrollton DART Station.
The Olympus on Broadway transaction represents exactly what BSPMT is targeting for acquisitions: a class A asset in an established, growing metropolitan area in Dallas and within one of the leading submarkets experiencing strong rent growth, said Mike Comparato, Head of Real Estate at Benefit Street Partners.

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SEATTLE, WA – American Capital Group, announced the acquisitions of 700 Broadway and Vantage Park, two multifamily communities located in Seattle s Capitol Hill neighborhood, for a combined buy price of $68,350,000.
Both properties are centrally located in urban Seattle and are within walking distance to several of the city s major employment centers, abundant amenities and educational and health care institutions. ACG will implement a capital improvement program, renovating common areas and interior units and improving the appeal of each community.
ACG anticipates increased demand for high quality, well-located housing in urban markets as residents continue to value efficient commute times and proximity to work, entertainment and education, said BJ Kuula, President, ACG.
Seattle s urban core continues to experience a high concentration of job opportunities, driven by the technology, health care and higher education industries. 700 Broadway and Vantage Park are proximate to downtown Seattle s largest employers, including Amazon, Google, Facebook and Apple, in addition to several hospitals and health care centers, which provide more than 24,000 jobs to the area.
We see significant opportunity for value creation and operational upside in these communities and will leverage our market expertise to reposition these properties to make an elevated living experience for both current and future residents, said John Lo, Acquisitions Manager for ACG.
700 Broadway is located in Capitol Hill s Broadway retail corridor and is within walking distance to the CBD and South Lake Union, major employment hubs for Seattle. Built in 2004, the property features 59 units spanning studio, one- and two-bedroom interiors. The property also includes 10,683 square feet of ground floor retail space, which is 100% occupied at the time of buy. Amenities include a fitness center, a private courtyard, barbeque and picnic areas and 24-hour concierge.
Vantage Park, a 91-unit community, lies within the south Capitol Hill neighborhood, one of the city s most attractive submarkets. The property is near several health care employers including Swedish, University of Washington Medicine and The Polyclinic. Vantage Park is also proximate to Seattle University and Seattle Central College, which combined enroll 23,000 students. Built in 2001, the community features premier amenities including a roof deck with city and water views, an outdoor courtyard and a fitness center.
The communities are near major transit options in Seattle, including the city s light rail, street car and bus lines. Each property is a small drive to I-5 and I-90, providing connectivity to the surrounding areas of Bellevue and Everett, which offer additional job opportunities as many technology companies go to the area.
The acquisitions add to ACG s growing portfolio in Washington. The firm recently opened the 409-unit Uplund Apartments in Totem Lake and announced a new development project, Kinect @ Burien, slated for completion in 2023.

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HAMILTON, NJ – Total construction starts fell 9% in August to a seasonally adjusted annual rate of $782.8 billion, according to Dodge Data & Analytics. All three sectors lost ground during the month: nonbuilding starts were down 2%, residential starts were 9% lower, and nonresidential building starts fell 13%.
Construction starts have hit a rough patch following the euphoria seen in the early stages of recovery from the pandemic, stated Richard Branch, Chief Economist for Dodge Data & Analytics. The Delta variant has raised concern that the fledgling economic recovery is stalling out, undermining the already low level of demand for most types of nonresidential buildings. Additionally, significant price increases for construction materials, logistic constraints, and labor shortages are making a challenging situation worse. Construction starts are likely to remain unsteady over the next few months. But, the dollar value of projects entering plotting continues to suggest that the recovery in construction starts should resume early in the new year.
Below is the full breakdown:
Nonbuilding construction starts lost 2% in August to a seasonally adjusted annual rate of $167.8 billion. Starts in the environmental public works category (water-related projects) gained 4%, while miscellaneous nonbuilding starts (heavily pipelines) were up 14%. Meanwhile, highway and bridge starts were 4% lower and utility/gas plants dropped 21% following a sizeable gain in July. Year-to-date, total nonbuilding starts were up 1% through August. Environmental public works were up 23%, and utility/gas plant starts were up less than one percentage point through August. Starts in the highway/bridge (-2%) and miscellaneous nonbuilding sectors (-19%) were down through the first eight months of the year. For the 12 months ending in August 2021, total nonbuilding starts were 2% lower than the 12 months ending in August 2020. Environmental public works starts were 22% higher and highway and bridge starts were up 3%, while utility and gas plant starts were down 17% and miscellaneous nonbuilding starts were 22% lower on a 12-month rolling basis. The largest nonbuilding projects to break ground in August were the $677 million Oak Hill Parkway roadway in Austin, TX, the $351 million southern expansion of the Kansas City Streetcar system in Kansas City, MO, and the $300 million first phase of the Dunns Bridge Solar Project in Wheatfield Township, IN.
Nonresidential building starts fell 13% in August to a seasonally adjusted annual rate of $244.9 billion. The declines were broad-based across building types with few bright spots. Commercial starts dropped 10%, institutional starts lost 15%, and manufacturing starts fell 37% following a sizable gain in July. Despite overall losses, there were gains in the retail, parking, and public buildings. Year-to-date through eight months, nonresidential building starts were 3% higher. Commercial starts increased 2% and manufacturing starts were 33% higher. Institutional starts, but, were 1% lower through eight months. For the 12 months ending in August 2021, nonresidential building starts were 8% lower than in the 12 months ending in August 2020. Commercial starts were down 8%, institutional starts fell 4%, and manufacturing starts dropped 29% in the 12 months ending August 2021. The largest nonresidential building projects to break ground in August were the $800 million first phase of the Facebook Eastmark Parkway data center in Mesa, AZ, the $400 million Facebook data center in Springfield, NE, and the $350 million Pratt & Whitney Project Ranger manufacturing building in Asheville, NC.
Residential building starts lost 9% in August to a seasonally adjusted rate of $370.2 billion. Single family starts fell 12% in August, while multifamily starts increased 1%. Through eight months, residential starts were 24% higher than in the same period one year ago. Single family starts gained 29%, while multifamily starts grew 13%. For the 12 months ending in August 2021, total residential starts were 21% higher than the 12 months ending in August 2020. Single family starts gained 28%, while multifamily starts were up 2% on a 12-month sum basis. The largest multifamily structures to break ground in August were the $615 million Flamingo Crossing Apartments in Winter Garden, FL, the $400 million 1018 West Peachtree apartments in Atlanta, GA, and the $374 million Victoria Place Gateway Tower in Honolulu, HI.
Regionally, total construction starts lost ground in August in all five regions.

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