MEDWAY, MD – Toll Brothers, the nation s leading builder of luxury homes, through its Toll Brothers Apartment Living rental subsidiary, and HQ Capital Real Estate have announced the formation of a new joint venture to develop Hathon, a 190-unit multifamily rental community in Medway, MA.
The project is being financed through a $45 million construction loan facility from PNC Bank. The debt and equity were arranged by Toll Brothers in-house Finance Department. Toll Brothers Apartment Living will manage the development, marketing, and asset management of the project.
Hathon is located on a 12.3-acre site on Main Street in Medway. The town sits between Boston, Massachusetts and Providence, Rhode Island with convenient access to the Interstate 495 corridor and the region s many employment centers. The MetroWest market is regarded as one of Greater Boston s most desirable submarkets and is often noted for its quintessential New England feel and its affordability compared to downtown Boston and Cambridge.
Hathon will consist of 190 rental apartments (142 market-rate units and 48 affordable units) in four and five tales of wood-frame construction with surface parking. The apartment homes will feature high-end luxury finishes and a best-in-class amenity package, including a state-of-the-art fitness center, outdoor area, and resort-style pool, co-working space, fantastic room and media lounge, demonstration kitchen and dining room, mail café with coffee station, playground, pet spa and dog run. The project offers unparalleled access to the outdoors in an idyllic New England setting along with walkable retail, all within a 45-minute drive to the heart of Boston.
Charles Elliott, President of Toll Brothers Apartment Living, stated: We re excited to continue our growth in the dynamic northeast market. Medway joins multiple successful Toll Brothers Apartment Living projects in the region reflecting the strength and diversity of the local economy.
Fred Cooper, Toll Brothers Senior Vice President, Finance and Investor Relations, stated: We look forward to working on our first transaction with HQ Capital, whose reputation in the region is well-established. We are also pleased that PNC is providing the construction financing for Hathon, given our long and successful history with the bank.
Kristi Nootens, Vice President of Investment Management at HQ Capital Real Estate, stated: Hathon presents the opportunity for us to partner with a best-in-class developer to deliver relatively affordable luxury apartments to a supply-constrained market with fantastic demographics and stable employment. While this is our first project with Toll Brothers Apartment Living, we look forward to building on this relationship both within the Boston MSA and in other target markets across the country.

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IRVINE, CA – The Bascom Group has bought an 80-unit multifamily community within the broader San Diego market. The property, Echo Pointe Apartments, consists of large, two- and three-bedroom floorplans across 20 fourplex buildings in centrally-located La Mesa, California. Bascom bought the 80-unit property for $26,800,000, or $355,000 per unit. Brightspire Capital (fka Colony Capital) provided the debt financing for the acquisition and was arranged by Brian Eisendrath, Cameron Chalfant, and Jake Vitta of CBRE Capital Markets. Apartment Management Consultants (AMC) will provide property management services.
Bascom Sr. Principal, Chad Sanderson, states, “After successfully completing two repositioning projects in San Diego County earlier this year, we are excited to backfill our portfolio with Echo Pointe. Echo Pointe’s large floorplans and silent neighborhood provides residents a unique community experience in one of the most desirable rental markets in the country. We believe the San Diego Metro and the La Mesa submarket will see strong fundamental growth over the next several years driven by limited new housing supply and continued population growth.”
Echo Pointe is centrally located in La Mesa, an area known for its exceptional access to San Diego’smajor employers, retail centers and recreational activities. La Mesa residents are drawn to its chic style and trendy retail, all while maintaining a family-friendly, small town feel. Bascom’s Senior Vice President of Operations, Julie Schoenbachler, adds, “The property is located within a five-minute drive to burgeoning Downtown La Mesa and less than a five-minute walk to the Spring Street Trolley Station with service to the San Diego Trolley Orange Line. Moreover, residents have access to key employment centers throughout the Metro. Over 46% of San Diego County’s entire employment base is within a 10-mile radius of the property.”
Joe Ferguson, Acquisitions Manager for Bascom, states, “Echo Pointe has a very low-density feel with under 20 units per acre. Like single-family rentals, residents at Echo Pointe have convenient access to individual units and minimal disturbances from neighbors. Through a targeted renovation program that includes dishwasher additions to all units, Echo Pointe will provide residents a quality product at an affordable price.”
The Bascom Group has been one of the most active apartment buyers in Southern California since its inception in 1996, partnering with institutional and private capital. To date, Bascom has bought 96 multifamily properties and 16,746 units in Southern California, with six of those properties and 453 units located in San Diego County. Over the past year, The Bascom Group has completed over $805.8 million in multifamily transactions across its national portfolio.

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DENVER, CO – Lincoln Property Company, alongside partner Cadillac Fairview, closed on the buy of The Pullman. The 13-tale boutique residential and retail community is located at 1959 Wewatta St. in Denver s Union Station neighborhood.
The buy of The Pullman is the second existing asset acquisition from the $800M and growing U.S. multifamily fund co-sponsored by Lincoln Property Company Residential and Cadillac Fairview.
The Pullman, whose name was inspired by the Pullman train car, sits alongside Denver s Union Station, highlighting its transit-oriented location. The luxury building is only a three-minute walk to Whole Foods and King Soopers and provides immediate access to coffee shops, restaurants, nightlife, parks, trails, Coors Field, and major employers.
The Pullman s location is perfect, everything residents need is within a couple of blocks, said Jeff Courtwright, Lincoln Property Company s EVP for the Southwest region. The Denver market has seen substantial rent growth as people continue to go to Colorado from out of state. We look forward to adding The Pullman to the Lincoln portfolio.
Built in 2020, The Pullman is 168 units and a mix of one-, two-, and three-bedroom residences, in addition to two-tale penthouses. Units range from 819 to 3,784 square feet. The property also includes 2,895 square feet of ground-floor retail space, plus above- and below-ground structured parking.
The rooftop features a heated pool and spa with towel service, with views directly into Coors Field to watch a Rockies game, alongside a massive outdoor kitchen and dining lounge. Other community amenities include a fitness center with Pelotons and yoga studio, billiards lounge with wet bar, pet spa, private clubroom, coffee and herbal tea bar, refrigerated and non-refrigerated package lockers, tech lounge, concierge services, as well as a reservable guest suite, board room and personal office space.
Residence interiors include high-end finishes such as KitchenAid gas cooktops with griddles, custom wood cabinetry, quartz countertops, herringbone tile backsplash, beverage bars complete with wine fridges, built-in wall ovens, powder room bathrooms, laundry rooms with cabinet storage, frameless shower enclosures, and tech features such as Lutron lighting control and USB electric outlets.

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