Rockpoint, The Morgan Group, and Humbold Announce Joint Venture to Develop Caroline at Sunrise
Partnership to Acquire and Develop Multifamily Community in Sunrise, Florida
BOSTON and MIAMI, Jan. 7, 2026 /PRNewswire/ -- Rockpoint, a Boston-based real estate private equity firm, and The Morgan Group, a vertically integrated, third generation family business that invests in multifamily housing in high-growth U.S. markets, today announced the formation of a joint venture to acquire and develop Caroline at Sunrise, a garden-style apartment community in Sunrise, Florida. Humbold Real Estate Ventures, a Florida based family-owned real estate firm, and current owner of the land, will also participate in the joint venture. Financial terms of the transaction were not disclosed.
The development will feature a total of 452 units, including 412 apartments and 40 townhomes. The 21-acre property is situated in the Sunrise submarket of Fort Lauderdale in central-western Broward County, which has emerged as a fast-growing residential destination with strong regional connectivity and convenient access to major employment centers. Residents benefit from major nearby highway systems, the Fort Lauderdale-Hollywood International Airport, and premier entertainment destinations. Caroline at Sunrise will be an amenity-rich community offering flexible, thoughtfully designed living spaces designed to meet a range of lifestyles and resident needs.
"We are excited to make this investment on behalf of our limited partners," said Dan Domb, Managing Member and COO at Rockpoint. "We continue to see positive demand dynamics in select Florida submarkets including a shift in tenant preferences towards community-based living. Caroline at Sunrise will provide a unique living experience for residents who value proximity to major city centers while maintaining the resort-style, beachside lifestyle that defines Florida. We look forward to partnering with The Morgan Group and Humbold to develop and deliver on a differentiated community experience."
"The Morgan Group is proud to partner with Rockpoint and Humbold to develop this unique property," said Evan Schapiro, Vice President and East Region Development Partner at The Morgan Group. "It was critical that we identify an equity partner with deep multifamily experience who shares our vision for Caroline at Sunrise. We look forward to offering tenants the same best-in-class amenities and living experience we have delivered through our Caroline properties across the country – with a focus on responsibility to the local community and a commitment to excellence from start to finish."
Construction is scheduled to begin in early 2026, with first units expected to deliver in late 2027. The property will showcase best-in-class interior finishes and a thoughtfully curated amenity package, including a two-story clubhouse with a state-of-the-art fitness center and yoga studio, a resort-style pool, co-working space, pet spa, outdoor lounge, and dog park.
"Our team looks forward to partnering with Rockpoint and The Morgan Group to develop this community. This project has been in the works for many years, and we're excited to see it come to fruition," said Ariel Kaufman and Lauren Iaslovits, Principals at Humbold Real Estate Ventures.
Rockpoint, along with its predecessor firm, has a longstanding history of investing in the residential sector and has closed on or committed to 140 residential investments since 1995, comprising more than 97,000 multifamily units.
About Rockpoint
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm's co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 512 transactions with a total peak capitalization of approximately $82 billion. To learn more, visit www.rockpoint.com.
About The Morgan Group
Morgan is a vertically integrated, third-generation family business that invests in multifamily housing through development and acquisitions in high growth US markets. Currently, Morgan's owned and managed portfolio consists of more than 22,000 units across Texas, California, Arizona, Colorado, Missouri, and Florida. The firm has built, acquired, or is developing over 30,500 units valued at more than $6.7B in its history. Morgan has an extensive development and acquisitions track record and targets $1B of new investments annually. Morgan strives to deliver best-in-class multifamily assets and to responsibly manage our investor's capital.
www.morgangroup.com
About Humbold Real Estate Ventures
Humbold is a boutique family-owned real estate investor with a diversified portfolio of residential, commercial and industrial properties. The Florida operation was started in 2018 and continues to pursue investment opportunities in Florida.
Contacts
Rockpoint
Sarah Salky / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
rockpoint-jf@joelefrank.com
The Morgan Group
Joe Melton
SVP of Marketing and Communications
(713) 361-7224
JoeM@morgangroup.com
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SOURCE Rockpoint Group, L.L.C.