AUSTIN, TEXAS — Houston-based investment firm Disrupt Equity has purchased Array Apartments, a 369-unit multifamily property in Austin’s Riverside District. The property was built in 1973 and features one-, two- and three-bedroom floor plans. The amenity package comprises two pools, two dog parks, a sports court, clubhouse, outdoor grilling and dining areas and onsite laundry facilities. Disrupt Equity’s in-house team will manage the property, and the new ownership also plans to implement a value-add program. The seller and sales price were not disclosed.
LA PORTE, TEXAS — Florida-based investment firm DLP Capital and Dallas-based Elevate Commercial Investment Group have acquired Domain at Morgan’s Landing, a 350-unit apartment community located in the eastern Houston suburb of La Porte. Built in 2021, the garden-style property houses one-, two- and three-bedroom units and offers amenities such as a pool, movie screening room, lounge with billiards and poker tables, fitness center, video arcade, a dog park and outdoor grilling stations. The seller and sales price were not disclosed.
DALLAS — Greysteel has arranged the sale of Meadows at Ferguson, a 264-unit apartment complex in northeast Dallas. Built in 1983, the property offers one-, two- and three-bedroom units. According to Apartments.com, residences have an average size of 825 square feet, and amenities include a pool, playground and picnic areas. Doug Banerjee, Jack Stone and Andrew Mueller represented the buyer and seller, both of which requested anonymity, in the transaction. The new ownership plans to implement a value-add plan.
HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 23 light industrial buildings totaling 711,399 square feet that are located throughout the Houston area. The properties provide access to major transportation arteries such as Interstates 10, 45 and 610, as well as the Sam Houston Tollway and U.S. Highways 290 and 59. The Class B portfolio was 76 percent leased at the time of sale to 125 tenants with footprints ranging in size from 833 to 24,439 square feet. The seller and sales price were not disclosed. Los Angeles-based lender PCCP LLC provided a $72 million acquisition loan for the deal.
WYLIE, TEXAS — Richmond, Va.-based investment firm 37th Parallel Properties has acquired Creekside South, a 252-unit apartment complex in Wylie, a northeastern suburb of Dallas. Built in 2015, Creekside South offers one-, two- and three-bedroom floor plans with an average size of 936 square feet and amenities such as a pool and outdoor lounge. Cutt Ableson of Berkadia arranged acquisition financing through an undisclosed life insurance company on behalf of 37th Parallel. The seller was not disclosed.
SAN ANTONIO — Newmark has brokered the sale of Viva Max, a 240-unit multifamily property in northwest San Antonio. Viva Max features one- and two-bedroom units with an average size of 733 square feet. The amenity package comprises a pool, clubhouse, picnic area, onsite laundry facilities, a playground and package handling services. Jim Young and Chase Easley of Newmark represented the seller in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price with plans to implement a value-add program. Viva Max was roughly 98 percent occupied at the time of sale.
VICTORIA, TEXAS — Northmarq has negotiated the sale of Stratford Place, a 110-unit apartment complex in Victoria, about 100 miles north of Corpus Christi. The property was built in 1980 and consists of 10 two-story buildings. Moses Siller, Zar Haro, Phillip Grafe and Bryan VanCura of Northmarq represented the seller, 3CM Multifamily, in the transaction. Additional terms of sale, including the name of the buyer, were not disclosed.
TRUMBULL, CONN. — New York City-based brokerage firm Rosewood Realty Group has negotiated the $101 million sale of The Royce at Trumbull, a 339-unit multifamily property located in southern Connecticut’s Fairfield County. AvalonBay Communities originally developed the property, which houses one-, two- and three-bedroom units, in 1997. Jonathan Brody of Rosewood Realty Group represented the seller, a partnership between Sym Investments and Skywood Properties, which acquired the asset in spring 2021 for $82 million. Brody also procured the buyer, Massachusetts-based Colony Hills Capital. The Royce at Trumbull was 99 percent occupied at the time of sale.
MIDDLETOWN, N.Y. — Marcus & Millichap has brokered the sale of two hotels totaling 261 rooms in Middletown, located about 75 miles north of New York City in the Hudson Valley region. The Hampton Inn and Courtyard by Marriott sold for a combined price of $34 million. Andrew Kern and Jerry Swon of Marcus & Millichap represented the seller, a limited liability company, in the transaction and procured the locally based buyer. Both parties requested anonymity.
SURPRISE, ARIZ. — Avanti Residential has completed the disposition of Villas at Mountain Vista Ranch, an apartment property located at 16630 N. Reems Road in Surprise. An undisclosed buyer acquired the asset for $85 million. Built in 2003, Villas at Mountain Vista Ranch features 256 apartments in a mix of one-, two- and three-bedroom floor plans with an average unit size of 1,008 square feet. Apartments include in-unit washers/dryers. Onsite amenities include a pool with lounge seating and a fitness center. Brad Goff, Brett Polachek and Chris Canter of Newmark represented the seller in the transaction. Newmark also arranged financing for the acquisition.