A joint venture between Conserve Holdings and Calibogue Capital has landed $28.9 million of acquisition financing to purchase a multifamily asset in Richmond, Va., Commercial Observer has learned. Greystone supplied the five-year, full-term, interest-only Fannie Mae -backed loan for Conserve’s $45 million acquisition of the Sphere property from MVP Equities . Newmark ’s Garrison Gore arranged the transaction, which closed at a 4.81 interest rate, according to Conserve. The 224-unit apartment complex at 2005 Brook Road is adjacent to the 103-unit Spectrum multifamily community that Conserve acquired in November 2024 for an undisclosed purchase price. “Our expansion in Richmond continues with the Sphere, a community that perfectly complements the Spectrum next door,” David Walkin , principal of Conserve Holdings, said in a statement. “This acquisition highlights our belief in Richmond’s long-term growth and underscores our strategy of acquiring high-quality communities in key markets.”

Spartanburg, SC – [10/16/2025] – Conserve Holdings, in partnership with PeakMade Real Estate as property manager, announced the acquisition of Auden Upstate, a 486-bed student housing community serving the University of South Carolina Upstate (USC Upstate). This transaction reflects Conserve’s growing focus on the student housing sector and its continued expansion into high-growth markets.

Richmond, VA – [10/28/2025] – Conserve Holdings announced today the acquisition of The Sphere, a Class A, 224-unit, multifamily community in Richmond, Virginia. This marks Conserve’s second acquisition in the Richmond market, following the recent purchase of The Spectrum, which is located directly adjacent to The Sphere.

BISWIRE/Oct. 19, 2025 — Conserve Holdings (“Conserve”), a vertically integrated real estate investment and management firm, today announced the successful recapitalization of Cottage Trails Apartments, a 187-unit Class A luxury multifamily community in Chesapeake, Virginia, through a joint venture with MLG Capital.

Chesapeake, VA — 9/28/2025 — Conserve Holdings (“Conserve”), a vertically integrated real estate investment and management firm, today announced the successful recapitalization of Cottage Trails Apartments , a 187-unit Class A luxury multifamily community in Chesapeake, Virginia, through a joint venture with MLG Capital.

JAMES CITY — A property management and development firm hopes to bring more apartments to central James City County — including affordable units — by transforming a hotel with a distinctive historical feature. New Jersey-based Conserve Holdings is asking the county’s Board of Supervisors to approve a rezoning that would allow for a complete overhaul of the Fort Magruder Hotel and Conference Center, located at 6945 Pocahontas Trail. The proposed master plan calls for 32,000 square feet of commercial space in what is now the property’s conference center and the conversion of the hotel’s 303 guestrooms into 126 apartments. A major component of the proposed redevelopment is affordable housing. Conserve Holdings’ plan calls for 40% of the units to be offered to renters meeting specific income thresholds. Conserve Holdings already owns and manages Grand Village at Williamsburg, a rental community next door to the Fort Magruder Hotel. The county’s planning commission unanimously voted to recommended approval of the rezoning at its April 2 meeting. The Board of Supervisors will consider the rezoning application at its May 13 meeting.

Conserve Holdings has nabbed $23.2 million of acquisition financing to purchase a South Carolina multifamily asset, Commercial Observer has learned. Arbor Realty Trust (ABR) provided the three-year, nonrecourse loan on the real estate investor’s $32.9 million purchase of the 210-unit Cove at Ridge property in Lyman, S.C., from Universal Development & Construction . Stephen York , managing director at Arbor, originated the floating-rate loan. David Walkin , founding partner at Conserve Holdings, said the property consists of many townhomes with attached garages, and he stressed there is heavy demand for this type of rental asset that is not widely available in northwest South Carolina. “We’ve been active in the Greenville market since 2020 and I’ve always believed in its long-term potential, even through periods of oversupply and negative rent growth,” Walkin said. “The basis at which we acquired this site is truly unmatched, and we’re excited to continue expanding our footprint in this dynamic market.” Located at 610 Universal Drive just north of U.S. Highway 29, the property previously called Universal at Pine Ridge has amenities that include a fitness center, a pool, an outdoor fire pit, a business center and a clubhouse. The apartment complex is about 30 miles from the North Carolina border, and 90 miles southwest of Charlotte. CBRE (CBRE) ’s John Phoenix arranged the transaction. “As demand for high-quality, affordable housing continues to rise with the Upstate’s booming population and robust job growth,” Phoenix said in a statement referring to the northwest region of South Carolina near Greenville and Spartanburg. “This investment further showcases Conserve’s mission of providing accessible housing options that support Greenville-Spartanburg’s expanding workforce.”

BISWIRE/April 2, 2025 – Conserve Holdings is proud to announce the acquisition of Universal Pine Ridge, a 210-unit multifamily community located in Lyman, South Carolina. This marks our seventh acquisition in the Greenville-Spartanburg MSA, reinforcing our commitment to strategic growth across the Southeast. The transaction, facilitated by John Phoenix, highlights the collaborative efforts of all parties involved. John noted, “Our team was thrilled to assist David Walkin and the Conserve Team with the acquisition of Universal at Pine Ridge. As demand for high-quality, affordable housing continues to rise with the Upstate’s booming population and robust job growth. This investment further showcases Conserve's mission of providing accessible housing options that support Greenville/Spartanburg's expanding workforce.” Financing for the acquisition was provided by Steve York of Arbor Realty Trust, continuing their strong partnership with Conserve Holdings. Conserve Holdings also extends its appreciation to the sellers, Cox Universal Groups’ Shane Anderson, and wishes them continued success in their future endeavors. This acquisition underscores Conserve Holdings’ focus on quality assets in thriving communities. For media inquiries, please contact: Annie Cobb Annie@conserveholdings.com About Conserve Holdings: Conserve Holdings, a leading real estate investment firm specializing in the acquisition and management of multifamily properties nationwide. The company was founded by David Walkin and Steve Fuchs with a focus on long-term value creation. The company leverages its expertise to identify and secure investment opportunities that deliver optimal returns for its investors. Conserve Holdings is committed to building strong relationships, driving innovation, and contributing to the growth and success of the communities in which it operates. Contact David Walkin at david@conserveholdings.com