CHEVY CHASE, MD – FCP has made its first investment in the Las Vegas, NV market with the acquisition of The Avondale Apartments. The 560-unit apartment community located at 9225 W. Charleston Boulevard lies within the Peccole Ranch master-plotted community with immediate access to the nearby 20,000-acre Summerlin development.
“FCP is excited to expand its Western U.S. footprint and enter Las Vegas with the addition of such a high-quality asset in a top-tier location,” said Bart Hurlbut, Senior Vice President and head of Western US investments at FCP. “While the property has been institutionally owned and well-managed, we see a fantastic opportunity to take advantage of the immediate proximity to employment and amenities while repositioning the community. In a challenging transaction environment, we continue to find ways to buy communities in fantastic locations in growing markets where we see continued long-term fundamental strength, and Avondale Apartments meets those criteria to a tee.”
FCP plans to implement value-adding capital improvement projects including upgrading common areas and a modern unit renovation plot that will position Avondale to thrive in one of the most desirable submarkets in Las Vegas.
The Avondale Apartments are conveniently located within the Peccole Ranch master-plotted community, which features miles of walking trails, tennis courts, playgrounds, and an abundance of retail and convenience amenities. Within 2.5 miles is the 20,000-acre master-plotted mixed-use development, Summerlin, with the largest concentration of dining, retail, entertainment, and hospitality amenities outside of the downtown Las Vegas Strip.
Avondale comprises one-, two-, and three-bedroom residences in three-tale buildings. Each residence features hardwood floors, stainless steel appliances, patios or balconies, a fireplace, in-unit washers and dryers, garden soaking tubs, and a gas stove. Residents of Avondale can delight in three resort-style swimming pools, a 4,000 square foot fitness facility, a racquetball court, spin room, two dog parks, and a dog washing station.
FCP extends its appreciation to CBRE’s Las Vegas Investment Sales team of Adam Schmitt, Spence Ballif, Jannie Mongkolsakulkit, and Justin Neubeck for their representation of the seller, and CBRE’s Mid-Atlantic Debt and Structured Finance team of Maxi Leachman, John Knies, and Sallie Ann Seiders in securing financing for the acquisition.

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ATLANTA, GA – Greenwood Star Holdings, a vertically integrated real estate company specializing in the acquisition, management, and disposition of multifamily properties, announced the acquisition of two multifamily communities as part of its Regulation D, 506(c) offering: Greenwood Star Income and Growth Trust (GSREIT) a private, open-end real estate investment trust focused on acquiring high-quality, income-producing multifamily assets across the Southern United States.
The acquisitions include Parkside Apartments, a 281-unit property, along with Creekside Apartments, a 96-unit property, both located in the Atlanta suburb of Doraville, Georgia. Parkside was bought for $31.5 million, a 23% discount to its comparable sale price, and Creekside was bought for $15.5 million, a 35% discount to its comparable sale price. Both properties include the assumption of attractive long-term financing involving a 3.63% Fannie Mae loan maturing in August 2029.
“Doraville is an in-demand submarket of Atlanta that continues to demonstrate resilient fundamentals, making a competitive rental housing environment,” said Lisa Li, chairman and CEO of Greenwood Star. “With our integrated property management capabilities, and the ability to assume the 3.63% Fannie Mae loans, we believe that Parkside and Creekside are well-positioned to deliver significant value to investors.”
Both properties may benefit from their desirable locations within the Doraville submarket, an area where favorable fundamentals are expected to continue supporting the market for the foreseeable future. The area has seen strong population growth in recent years along with a robust job market. Doraville has also experienced high occupancy rates driven in part by affordability: mortgage payments in the surrounding area are more than double the monthly rent payments at both properties, reinforcing demand for quality rental housing.

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NEW YORK, NY – Liberty Mutual Investments, the investment firm for Liberty Mutual Group, and Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition, investment management, and operation of high-quality residential communities, announced joint ventures for the acquisition and development of two new student housing projects, The Mark State College and The Mark Mansfield. The joint ventures will deliver 1,255 purpose-built off-campus student housing beds at Pennsylvania State University (Penn State) and The University of Connecticut (UConn).
These developments represent the first venture between LMI and Landmark, leveraging Landmark’s track record of more than 20 years, while continuing LMI’s focus on investing in premier student housing opportunities. LMI’s student housing portfolio includes approximately 17,000 beds and is focused on adding purpose-built housing near large public universities with robust student communities. TSB Capital Advisors arranged financing for both transactions.
The team will develop two sites – one on East College Avenue adjacent to the heart of the Penn State campus and the other on the corner of North Eagleville Road and Ledoyt Road, adjacent to the UConn campus core.
The Mark State College, a 12-tale student housing project serving Penn State students, will add 515 beds upon completion. Plotted amenities include a skydeck, rooftop pool and hot tub with campus views, jumbotron, modern fitness center and sauna, clubhouse/amenity area, grilling area and fire pits, sports simulator, study lounge with café and computer lab, structured parking deck, and bicycle/scooter parking. This is LMI’s third investment in student housing development within the Penn State market.
The Mark Mansfield, a 9-tale student housing project serving UConn students, will add 740 beds in the supply-constrained Storrs, CT market. Plotted amenities include a state-of-the-art fitness center and clubhouse, sauna, nearly pool-sized hot tub, study lounge, computer lab, gaming lounge, and bicycle parking.
“These properties represent exceptional opportunities to deliver premier off-campus student housing at thriving universities—communities that will attract students and provide long-term value for residents,” said Christopher Finn, Managing Director and Head of Real Estate at Liberty Mutual Investments. “We are excited to expand LMI’s student housing platform with Landmark, a leading developer of purpose-built, best-in-class student housing.”
“We’re excited about forging this relationship with LMI and look forward to working together on future initiatives,” said Walt Templin, President and Chief Investment Officer of Landmark Properties. “Our shared commitment to providing housing options in university communities will help students excel in their academic careers while also reducing the pressure on the local housing market.”
LMI invests more than $100 billion of long-term capital globally across its integrated platform on behalf of Liberty. The firm is focused on partnering with leading operators and investors to identify high-value opportunities, drive economic growth, and build enduring businesses side-by-side with its partners.

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