IHP Capital Partners and The Grupe Company Acquire 2.6 Acres for New Townhome Community in Pleasanton, Calif.

Black Ave will bring new for-sale homes to a walkable infill location near schools, parks and historic downtown in a supply-constrained East Bay market

PLEASANTON, Calif. (November 3, 2026) - IHP Capital Partners ("IHP"), a leading national residential real estate investment firm, and joint venture partner, The Grupe Company, a vertically integrated real estate development firm, today announced the acquisition of a 2.6-acre infill site in Pleasanton, Calif., for the development of Black Ave, a new community of 59 three-story for-sale townhomes.

Located at 4400 Black Avenue, the community will introduce new housing within an established Pleasanton neighborhood near top-rated schools, public recreation amenities and the city's historic downtown.

"Pleasanton offers excellent access to major employment centers, an established community and a limited supply of new homes," said Chris Bley, co-president of IHP Capital Partners. "We're excited to build on our relationship with The Grupe Company to deliver a well-located housing option in this desirable East Bay market. This acquisition expands our collaboration in the Tri-Valley, where we're focused on infill sites with upside supported by strong fundamentals."

The townhomes at Black Ave will range from approximately 1,450 to 2,250 square feet and include three bedrooms, three bathrooms, and two car garages. The largest floor plan will include an Accessory Dwelling Unit (ADU), offering multi-generational living space for families and guests. Nine homes will be designated below-market-rate ("BMR").

Black Ave is located directly across from Amador Valley Community Park and the Dolores Bengston Aquatic Center, and is within walking distance of an elementary school, a high school and Pleasanton's downtown district. The city's central position in the Tri-Valley provides access to employment centers in Silicon Valley, San Francisco and the regional Tri-Valley market.

"Black Ave is a rare opportunity to create new, for-sale homes in a neighborhood where buyers can walk to school, the park and downtown," said Mark Fischer, president of The Grupe Company. "Pleasanton has seen limited new housing development over the past two decades, and our approach is to provide a modern living option that complements the neighborhood's character and high quality of life for all residents. We look forward to delivering another quality new community in a dynamic Northern California market."

The project will replace an approximately 22,000-square-foot, 1970s-era single-story office building that will be demolished. With entitlements in place, vertical construction is expected to commence in April 2027. Initial home sales are planned for fall 2027. Home pricing will be announced at a later date.

Black Ave marks IHP's recent second project with The Grupe Company, following Aria, a 57-townhome community in nearby San Ramon. Including Black Ave and Aria, IHP has more than 25 residential communities in various stages of development across Arizona, California, Colorado, Texas and Utah. The company partners with regionally focused, best-in-class builders to invest in well-located, high-demand housing markets throughout the Western U.S. and Texas and is actively pursuing new opportunities for development.

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