REBusinessOnline

Cantrell Partners Brokers Sale of 153-Unit Antiqua Village Apartment Property in Fort Worth

FORT WORTH, TEXAS — Cantrell Co. & Partners has brokered the sale of Antiqua Village, a 152-unit multifamily community in southeast Fort Worth. The property was 93.5 percent occupied at the time of sale. Sam Pettigrew of Cantrell represented the seller, Republic Village LP. The buyer of record is M&D Antiqua Village LLC, a Texas-based

Retail Property Taxes Will Rise

As retailers rise and fall in the age of Amazon, property taxes remain one of retailers’ largest operating expenses. That makes it critical to monitor assessments of retail properties and be ready to contest unfairly high taxable valuations. Assessors — and property owners attempting to educate those assessors — must understand how the changes taking place in the retail sector affect property value. Assessors must adjust their models to reflect new market realities, and property owners …

Caydon Opens $200M Drewery Place Multifamily Property in Houston

HOUSTON — Caydon, an Australian development firm, has opened Drewery Place, a $200 million multifamily community in Houston. The property features 357 units in micro, studio, junior, one-bedroom and two-bedroom formats. Amenities include a pool, fitness center, dog park, conference room and whiskey bar. Drewery Place represents the first phase of Laneways, Caydon’s mixed-use development that is inspired by the streets of

One Real Estate Buys 200-Unit Mira Vista Apartments in Austin

AUSTIN, TEXAS — Miami-based One Real Estate Investment has purchased Mira Vista Apartments, a 200-unit multifamily community in Austin’s Windsor Hills neighborhood. The community was built in 1983 and was 97 percent occupied at the time of sale. Mira Vista is a garden-style community composed of 32 one-bedroom units and 168 two-bedroom units ranging from 650 square feet to 960 square feet. Amenities include a pool, clubhouse, community grill area, courtyard, playground, sauna, pool with …

Marcus & Millichap Brokers Sale of 509-Unit Self-Storage Facility in Mineola, Texas

MINEOLA, TEXAS — Marcus & Millichap has brokered the sale of KeepIt Mini Storage, a 509-unit self-storage facility in Mineola, about 80 miles east of Dallas. Built in phases between 1994 and 2017, the property comprises 116 climate-controlled units, 393 non-climate-controlled units, four uncovered parking spaces and a 1,800-square-foot business center that can be rented out on a per-day basis. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and developer …

Venture Commercial Arranges Sale of 58,515 SF Former Albertson’s in Metro Dallas

GRAND PRAIRIE, TEXAS — Venture Commercial Real Estate has arranged the sale of a 58,515-square-foot retail property formerly occupied by Albertson’s grocery store in Grand Prairie, located roughly midway between Dallas and Fort Worth. John Zikos and Charlotte Cooper represented the seller in the transaction. Sean Porter with Capstone Commercial Real Estate Group Inc. represented the buyer. Both parties requested

Rastegar Property Acquires 36-Unit Multifamily Asset in Austin

AUSTIN, TEXAS — Locally based investment firm Rastegar Property has acquired a 36-unit multifamily community located at 902 Romeria Drive in the Brentwood area of Austin. Units at the property average 490 square feet. Rastegar plans to fully renovate the property with new flooring, tile, cabinets, countertops, stainless steel appliances, interior and exterior paint, windows, siding, roofs, landscaping and covered

KDC, Weston Urban Complete 460,000 SF Frost Tower in Downtown San Antonio

SAN ANTONIO — Developers KDC and Weston Urban have completed the 460,000-square-foot Frost Tower in downtown San Antonio. Construction of the 23-story building, which the developers say represents the biggest office project delivered in downtown San Antonio in 30 years, began in March 2017. Tenants have started moving in, and include JPMorgan Chase, State Farm and Toyota. Pelli Clarke Pelli served as the design architect. Kendall/Heaton Associates was the production architect, and Clark …

Praedium Group Acquires 387-Unit Everly Apartments in West Houston

HOUSTON — The Praedium Group, a New York-based investment firm, has acquired Everly Apartments, a 387-unit multifamily community in West Houston. Built in 2018, the property offers one- and two-bedroom units that range in size from 659 to 1,292 square feet and feature stainless steel appliances, granite or quartz countertops and custom wood cabinetry. Amenities include a pool with cabanas, a fitness center, indoor golf simulator, outdoor beer garden and a Wi-Fi lounge with private conference …

CIT Group Funds $56M Loan for Acquisition, Renovation of Irving Apartment Complex

IRVING, TEXAS — New York City-based bank CIT Group Inc. has provided a $56 million loan for the acquisition and renovation of Bel Air Las Colinas, a 515-unit multifamily complex in Irving. The garden-style property consists of 28 three-story buildings that feature studio, one- and two-bedroom floor plans. Amenities include a pool and a resident clubhouse. A portion of the proceeds will be used to fund capital improvements to the unit interiors, landscaping and amenity spaces. The borrower was …

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