Alliance Residential Co. has expanded its multifamily portfolio across key U.S. markets with the acquisition of eight communities comprising approximately 2,000 units between December and May.
Five of the properties were secured at a significant discount to replacement cost. Completed between December and March, these transactions spanning coast to coast include:
- Broadstone Miracle Mile, 60 units, in Los Angeles;
- Hawthorne Apartments, 156 units, in Riverside, California;
- North Park Landing, 226 units, in Fort Worth, Texas;
- Santoro, 387 units, in Houston; and
- Wyncrest Bala Cynwyd, 173 units, in Philadelphia.
“Each of these five acquisitions reflects the disciplined, cycle-tested approach Alliance has refined over more than two decades, focusing on assets acquired below replacement cost with clear operational or physical upside,” said Stephen Squatrito, managing director of acquisitions, West. “We have the capability to close deals simultaneously across multiple markets and with multiple partners, demonstrating both scale and efficiency.”
Alliance also expanded its presence in Orlando, Florida, with the acquisition of the 264-unit Stevens Pointe in January and the 300-unit Avalon Pointe and 300-unit Horizons Village in May.
According to the developer, the continued cadence of deal activity reflects growing institutional confidence in Alliance’s acquisition platform and its ability to source off-market or distressed deals at below-replacement-cost basis. Its national platform will continue to seek opportunities such as value-add repositioning, infill core assets, and properties in high-growth submarkets across its target geographies, including California’s Inland Empire, Florida, Houston’s The Heights/Memorial corridor, North Texas, and Philadelphia’s Main Line.
“Our acquisitions platform isn’t built around just one idea, it’s meant to work across different market environments,” added Sean Clancy, managing director of acquisitions, East. “At the end of the day, we try to stay disciplined and lean into what we do best, whether that’s putting some smart capital into an asset or finding good product in strong growth markets. When we keep that approach consistent, it tends to put us in a really good position to deliver solid, risk-adjusted returns over time.”
Alliance also recently made a push into the Midwest, tapping Ryan Adams as managing director of its newly established division. Adams will lead development efforts across the Midwest, identifying opportunities and overseeing the development lifecycle as the developer continues to expand its presence in key markets.
“Midwest markets present significant opportunity for well-conceived, thoughtfully executed multifamily development, and Alliance is well positioned to capitalize on that momentum,” noted Adams.
He brings more than two decades of real estate development experience to the role, most recently serving as vice president at Cityscape Residential in Overland Park, Kansas.