The apartment vacancy rate is at an all-time low, but in some submarkets the supply-demand imbalance is shifting.

The third platform is anchored by a $100 million co-invest commitment from the firm's longstanding executive team.

Marvin Starr, whose legal acumen, speaking prowess and charisma were admired by his peers, students and colleagues, pioneered the widespread use of delayed tax-deferred exchanges.

The firm has commenced construction on a 122-unit adaptive reuse multifamily project, and has additionally acquired a 939-unit residential community.