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The-Landings-at-Steeplechase-Houston
AcquisitionsMultifamilyTexas

Catalyst Equity Partners Buys 290-Unit Apartment Community in Northwest Houston

by Taylor Williams

HOUSTON — Dallas-based investment firm Catalyst Equity Partners has purchased The Landings at Steeplechase, a 290-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1981, offers one-, two- and three-bedroom units ranging in size from 501 to 1,088 square feet and includes amenities such as a pool and a fitness center. The seller and sales price were not disclosed. Catalyst plans to invest about $2.5 million in capital improvements to the property.

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Metro-7000-Fort-Worth
LoansMultifamilyTexas

Bellwether Enterprise Provides Agency Financing for Fort Worth Affordable Housing Property

by Taylor Williams

FORT WORTH, TEXAS — Bellwether Enterprise Real Estate Capital has provided an undisclosed amount of Freddie Mac financing for the preservation of Metro 7000, a 206-unit affordable housing property in Fort Worth. The borrower, Comunidad Partners, plans to invest more than $1 million in physical upgrades to the garden-style property. In addition, Comunidad will introduce social services, including telehealth, concierge resource referral, resident council meetings, youth education services, health and wellness education and economic advancement education. Anthony Tarter of Bellwether structured the financing.

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Anthology-of-Austin
DevelopmentMultifamilyTexas

Cadence McShane Breaks Ground on 130-Unit Seniors Housing Community in North Austin

by Taylor Williams

AUSTIN, TEXAS — General contractor Cadence McShane has broken ground on Anthology of Austin, a 130-unit seniors housing community that will be located on the city’s north side. Designed by OZ Architecture, the five-story, 128,000-square-foot facility will offer assisted living and memory care services. Units will feature studio, one- and two-bedroom formats, and amenities will include a fitness center, salon, clubhouse, theater and a bar/bistro. Completion is scheduled for spring 2023.

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AcquisitionsMultifamilyTexas

Greystone Brokers Sale of 109-Unit Apartment Complex in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Greystone has brokered the sale of Oak Creek, a 109-unit apartment complex in Garland, a northeastern suburb of Dallas. According to Apartments.com, the property was built in 1964 and offers one-, two- and three-bedroom units ranging in size from 568 to 1,000 square feet. Mark Allen of Greystone brokered the deal. The new ownership plans to implement a value-add program. Both parties involved were Texas-based limited liability companies.

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South Park Plaza
AcquisitionsOfficeSouth CarolinaSoutheast

CBRE Arranges $31.3M Sale of Office Campus in Charleston

by Julia Sanders

CHARLESTON, S.C. — CBRE has arranged the sale of South Park Plaza, a three-building office park in Charleston. Boyd Watterson purchased the property from an entity doing business as JEMA II LLC for $31.3 million. Charles Carmody, Patrick Gildea, Matt Smith, Grayson Hawkins and Ryan Carmody of CBRE represented the seller in the transaction. Located at 1-3 South Park Circle, South Park Plaza is a 139,060-square-foot property situated close to Interstate 526 and Citadel Mall, a shopping center anchored by Belk, Dillard’s, Target, Bath & Body Works and Loft. Since 2018, South Park Plaza has been 90.6 percent leased to tenants including The Medical University of South Carolina Hospital Authority.

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AcquisitionsMultifamilyTexas

Greysteel Arranges Sale of 54-Unit Multifamily Property in Liberty Hill, Texas

by Taylor Williams

LIBERTY HILL, TEXAS — Greysteel has arranged the sale of Stubblefield Park, a 54-unit multifamily property in Liberty Hill, a northern suburb of Austin. Built in 2016, the property consists of 14 buildings on a five-acre site. J.R. Ellis and Harrison Cole of Greysteel represented the seller in the transaction and arranged acquisition financing through a regional bank on behalf of the buyer. Both parties involved in the transaction requested anonymity.

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Lucid Motors
FloridaLeasing ActivityRetailSoutheast

Three Retailers Sign Leases at $4B Miami Worldcenter Development in Downtown Miami

by Julia Sanders

MIAMI — Three retailers have signed leases to join the tenant lineup at Miami Worldcenter, a $4 billion, 27-acre mixed-use development underway in downtown Miami. The three retailers are Sephora, a beauty and make-up retailer; Lucid Motors, an electric car company; and Bowlero, an entertainment retailer that offers bowling, interactive arcades and dining. The retailers, which are taking a combined 60,000 square feet, will open at Miami Worldcenter in 2022. CIM Group and Miami-based The Comras Co. are leading retail leasing on behalf of Miami Worldcenter Associates, the master developer of Miami Worldcenter. Sephora will occupy more than 6,000 square feet at the World Square Plaza, a 20,000-square-foot public plaza and park that will run along Miami Worldcenter’s 7th Street Promenade. Lucid Motors plans on taking about 23,000 square feet and developing a multi-use facility. The retailer will have a Lucid Studio, which will allow customers to experience the brand and its lineup of luxury electric vehicles. The location will also serve as a service facility and a delivery center. The facility will be located along 1st Avenue and 10th Street. Bowlero will occupy more than 31,000 square feet within Miami Worldcenter’s 78,000-square-foot “Jewel Box” retail building. The venue will …

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The-Cove-Apartments-Hingham-Massachusetts
AcquisitionsMassachusettsMultifamilyNortheast

CBRE Brokers $139.2M Sale of The Cove Apartments in Hingham, Massachusetts

by Taylor Williams

HINGHAM, MASS. — CBRE has brokered the $139.2 million sale of The Cove, a 220-unit apartment community in Hingham, located south of Boston. Built in 2020, the property offers a mix of one-, two- and three-bedroom units with hardwood-style flooring, custom cabinets, artisan tile backsplashes and stainless steel appliances. Amenities include a pool, social lounge, fitness center, coworking spaces and pet grooming station. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a joint venture between Arizona-based Alliance Residential and an institutional investor, in the transaction. The trio also procured an undisclosed institutional investor as the buyer.

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Authentix Cartersville
DevelopmentGeorgiaMultifamilySoutheast

McShane Construction Breaks Ground on 240-Unit Apartment Development in Metro Atlanta

by Julia Sanders

CARTERSVILLE, GA. — McShane Construction Co. has broken ground on Authentix Cartersville, a 240-unit multifamily development located in the northwest Atlanta suburb of Cartersville. McShane is building the property on behalf of the developer, Continental Properties. Authentix Cartersville is McShane’s 23rd project for Continental. Completion is slated for February 2023. Designed by Excel Engineering, Authentix Carterville will feature two-story, garden-style buildings with townhome-style studio, one-, two- and three-bedroom units and private, ground-floor entrances. Each unit will include modern kitchen appliances, washer/dryers and natural light. Community amenities will include a clubhouse with a coffee bar, 24-hour fitness center, swimming pool, outdoor barbeque area and a dog park with a pet spa. Situated on a 25-acre site at 5000 Canton Highway, Authentix Cartersville will be located adjacent to Georgia Highlands Cartersville Campus, about 25.5 miles from Lake Allatoona and 45.4 miles from downtown Atlanta.

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DevelopmentHospitalityNew YorkNortheast

Lightstone Tops Out 303-Room Moxy Lower East Side Hotel in Manhattan

by Taylor Williams

NEW YORK CITY — National investment and development firm Lightstone has topped out Moxy Lower East Side, a 303-room hotel located at the junction of Manhattan’s Little Italy, SoHo and Chinatown neighborhoods. The design team includes master architect Stonehill Taylor, interior design firms Michaelis Boyd and David Rockwell, who designed the restaurant and underground lounge. Other amenities will include a coworking lounge, fitness center and three meeting rooms. Completion is slated for late 2022.

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