MCLEAN, VA – Southern Management Companies announced its acquisition of The Shelby Apartments in Alexandria, Virginia. The addition of the 240-unit mid-rise community to Southern Management’s portfolio demonstrates the company’s strong market position and commitment to providing high-quality living experiences to the communities they serve.
The Shelby comprises primarily one- and two-bedroom apartment homes featuring spacious floor plans and updated finishes. Residents delight in a variety of amenities, including a state-of-the-art fitness center, pet-friendly grounds, and dedicated pet care facilities. The clubhouse, resort-style swimming pool, and outdoor grilling areas provide ample space for recreation, gatherings, and community engagement.
“The Shelby is a strong addition to our portfolio and reflects our continued confidence in Northern Virginia,” said Suzanne Hillman, CEO of Southern Management Companies. “Its location, quality and sense of community align well with our long-term investment strategy and our commitment to making exceptional places for people to live.”
Southern Management is a long-tenured and established owner operator with apartment, residential, and commercial properties throughout Maryland and Virginia. Southern Management looks forward to bringing long-term stability and investment to The Shelby and its residents.
Gabrielle Duvall, President of Southern Management Companies, added, “We are excited to welcome The Shelby’s residents and team members to Southern Management. Our focus will be building on the community’s existing strengths while providing the attentive service and long-term stability that residents expect from Southern Management.”
Opening its doors in 2014, The Shelby has been a central part of the revitalized Penn Daw area of Alexandria, near the intersection of Richmond Highway and North Kings Highway in affluent Fairfax County. Its location, just minutes from Interstate 495 and the Huntington Metro Station on the Yellow Line, makes the community easily accessible to current and future residents, while its proximity to Ancient Town Alexandria provides convenient access to a wide range of shopping, dining, and entertainment options.

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COLUMBUS, OH – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the groundbreaking of OSU East, a 336-unit upscale housing community in Northwest Columbus. Positioned near major employment centers and a growing mix of retail and recreational amenities, the community was designed to meet rising demand for high-quality rental housing in one of Columbus’ fastest-growing residential corridors.
OSU East marks The NRP Group’s first market-rate community in Columbus. The project is situated on a 27.5-acre site on West Dublin Granville Road that will include an additional 138 for-sale townhomes developed by M/I Homes of Central Ohio LLC.
This project represents an exciting milestone for our team and is the first of many opportunities we hope to pursue in Columbus, said Mike Zelenkofske, Executive Vice President of Development at The NRP Group. We were drawn to OSU East because of its connectivity to major transit corridors, proximity to neighborhood amenities, and the strong population and job growth shaping the region. We are grateful for the City’s continued partnership and excited to deliver a high-quality community that serves residents today while supporting the long-term growth of Columbus.
OSU East consists of 11 three-tale residential buildings with a mix of one-, two- and three-bedroom homes, including 144 one-bedrooms, 156 two-bedrooms and 36 three-bedroom units. Residence interiors will feature kitchen islands and peninsulas, granite countertops, luxury vinyl tile flooring, and balconies in most units.
Located near Ohio State University Airport and situated within the Worthington School District, OSU East offers residents proximity to Dublin, one of the region’s premier suburban employment and lifestyle hubs. The community s thoughtful design and best-in-class amenities were developed with working professionals and growing families in mind. The site offers simple access to major job centers throughout Columbus, including employers such as Ohio State University, Cardinal Health, Ohio Health, JP Morgan, Nationwide Insurance and Nationwide Children s Hospital.
The community offers convenient access to State Route 315 and Interstate 270, providing residents with strong freeway connectivity throughout Central Ohio. An 11-foot-wide bike path will also be installed along the development’s frontage in coordination with the City of Columbus, improving connectivity and walkability to nearby dining and retail along Dublin-Granville Road and Bridge Park, Dublin’s mixed-use lifestyle destination. The site is also close to Linworth Road Community Park, which offers soccer and baseball fields and walking trails, as well as Ohio State University Airport.
“We re pleased to partner with The NRP Group on this transformative development that will allow us to deliver for-sale townhomes alongside The NRP Group s high-quality rental housing,” said Josh Barkan, Division President at M/I Homes of Central Ohio LLC. “This kind of collaboration lets us meet a broader range of housing needs in Northwest Columbus, from young professionals to growing families to active adults and empty nesters, and we’re excited to break ground on our part of the site this spring.”
OSU East was designed with resident wellness, convenience and connection in mind. Amenities include a clubhouse with a full kitchen, a fitness center, a business pod with coworking space, volleyball and bocce courts, an outdoor grill and seating area, a resort-style pool and courtyards distributed throughout the site’s surface-parked layout. A package delivery room will also be available on site.
Financing was provided by PNC Bank, and the City of Columbus served as a key partner throughout the entitlement and development process.
Columbus and Central Ohio remain priority markets for The NRP Group, and the firm s latest expansion reflects strong confidence in the region s long-term fundamentals. Since 1994, The NRP Group has developed more than 68,000 apartment homes nationwide and currently manages over 33,000 residential units across the U.S. In Columbus, the company has delivered transformative developments, including Parsons Village Senior Apartments, the Residences at Career Gateway and most recently, The Lofton. Across Ohio, The NRP Group has developed more than 5,000 rental homes since 1994.
Construction of OSU East is now underway, with M/I Homes expected to start construction on its adjacent for-sale townhome community in spring 2027.

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RALEIGH, NC – Wood Partners, a national leader in multifamily real estate development, in partnership with Marcus Partners, a real estate investment, management and development firm, has broken ground on a 280-unit multifamily community located in Apex, North Carolina, a suburb of Raleigh. Altera Heights will offer upscale living at cost-effective rates and will be completed by the end of 2027.
Located at the intersection of Jenks and Wimberly roads, the community will include a mix of one-, two- and three-bedroom units. Wood Partners started work on the site in fall 2023, securing approval from the Town of Apex through a thoughtful approach centered on attainable housing. The community will also include income-restricted affordable housing, expanding living opportunities for residents in one of North Carolina’s fastest-growing markets.
“Fantastic communities start with collaboration,” said Caitlin Shelby, Managing Director at Wood Partners. “From the beginning, our goal was to make a community that responds to Apex’s evolving housing needs while complementing the town’s long-term vision. We’re grateful for the partnership of the Town of Apex and Marcus Partners in bringing this project to life.”
Marcus Partners is providing equity for the development, marking another collaboration with Wood Partners and the firm’s first ground-up development in the Raleigh-Durham market. Altera Heights is being led by Marcus Partners’ recently launched Atlanta office as the firm continues to expand its presence across the Southeast.
“We believe Altera Heights combines a strong location, compelling market fundamentals, an attractive basis, along with the opportunity to partner again with Wood Partners on a high-quality multifamily development,” said Andrew Dolinsky, Partner, Investments at Marcus Partners. “This project is an vital milestone as we continue expanding our investment activity across the Southeast.”
Named in recognition of Apex’s tagline, “The Peak of Excellent Living,” Altera Heights’ residents will delight in a freestanding clubhouse featuring a state-of-the-art fitness center, co-working space, gaming and lounge areas, as well as a resort-style swimming pool, outdoor fitness area, dog park and pet spa. The units will feature luxury vinyl plank flooring throughout, quartz countertops, tile kitchen backsplashes and tub surrounds, shaker-style cabinetry and premium lighting and plumbing fixtures.
Altera Heights is located in one of North Carolina’s most affluent and fastest-growing communities, approximately 15 minutes from Research Triangle Park, one of the country’s largest research and technology parks. The area continues to benefit from significant investment fueling a growing job market across life science, healthcare, and industrial sectors. More broadly, North Carolina ranked as the third fastest-growing state in 2025 and led the nation in net domestic migration, making it a prime location for new housing growth.
Altera Heights will be Wood Partners’ fourth project to commence construction in the Raleigh-Durham area in the last year. Most recently, the firm broke ground on the 357-unit Alta Watkins in Morrisville, North Carolina, in April 2026; the 312-unit Alta Durham Summit in Durham, North Carolina, in September 2025; and the 336-unit Alta Bethpage in Durham, North Carolina, in June 2025.

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