Property Type

Dinerstein Tops Out 33-Story Aspire Post Oak Apartment Tower in Houston

by Taylor Williams November 19, 2020

HOUSTON — The Dinerstein Companies, a locally based developer, has topped out Aspire Post Oak, a 383-unit apartment building located across from a Whole Foods Market in the Galleria area of Houston. The high-rise building will consist of seven floors of parking below the 33 residential floors. Units will feature an average size of 1,210 square feet and will be furnished with modern kitchens, smart technologies and individual washers and dryers. Amenities will include a 24-hour fitness center, infinity pool with tanning decks and adjacent aqua lounge, indoor and outdoor resident event space, a dog park and concierge services. Ludlow & Associates Construction is the general contractor for the project, which will also include 15,506 square feet of retail space. Dinerstein expects to begin leasing Aspire Post Oak in the second half of 2021, with rents starting at $3,000 per month.

November 19, 2020

Development Multifamily Texas

Trammell Crow to Develop 378-Unit Allora Northwest Crossing Apartments in Northwest Houston

by Taylor Williams November 19, 2020

HOUSTON — Trammell Crow Residential will develop Allora Northwest Crossing, a 378-unit apartment community that will be located at 5550 Bingle Road in northwest Houston. Units will feature individual washers and dryers and stainless steel appliances, while amenities will include a fitness center, pool, dog park and a bike storage room. Chris Caudill of NAI Partners represented Trammell Crow Residential affiliate Maple Bingle Apartments LLC in the acquisition of the 16.8-acre development site. Clay Pritchett and Zane Carman, also with NAI Partners, represented the seller, an investment group led by Claude Anello. Allora Northwest Crossing is expected to be complete in the fourth quarter of 2021.

November 19, 2020

Development Industrial Texas

Mesquite City Council Approves Zoning Change for 356,000 SF Industrial Project

by Taylor Williams November 19, 2020

MESQUITE, TEXAS — The City Council of Mesquite, located east of Dallas, has approved a zoning change for a 356,000-square-foot industrial project to be developed by Huntington Industrial Partners. The proposed development would consist of a 240,000-square-foot cross-dock building and a 116,600-square-foot front-load building. The proposed site of the project spans 22 acres on Military Parkway, east of Interstate 635.

November 19, 2020

Acquisitions Industrial Texas

RGH Real Estate Buys 412,000 SF Industrial Building in Comfort, Texas

by Taylor Williams November 19, 2020

COMFORT, TEXAS — RGH Real Estate Holdings LLC has purchased a 412,000-square-foot industrial building located at 1206 5th St. in Comfort, located northeast of San Antonio. According to LoopNet Inc., the single-tenant property was built in 2015 and features clear heights between 20 and 37 feet. Ryan Boozer, Jeremy Kelly, Lena Pierce, Mackenzie Ford and Kevin Cosgrove of Stream Realty Partners represented the buyer in the transaction. Russell Noll of Transwestern represented the seller, WINRE LLC.

November 19, 2020

Development Industrial Texas

TexAmericas Center Breaks Ground on 150,000 SF Spec Industrial Building in Texarkana

by Taylor Williams November 19, 2020

TEXARKANA, TEXAS — TexAmericas Center (TAC) has broken ground on a 150,000-square-foot speculative industrial building in Texarkana. The multi-tenant building will be situated on 24 acres and will feature 32-foot clear heights, one dock door per 5,000 square feet and two drive-in doors. Completion is scheduled for summer 2021. TAC owns and operates one of the largest mixed-use industrial parks in the United States, with roughly 12,000 development-ready acres and 3 million square feet of commercial and industrial product.

November 19, 2020

Acquisitions California Mixed-Use Office Retail Western

Hunter Properties Sells Phase I of Coleman Highline Mixed-Use Campus in San Jose to Blackstone REIT for $275M

by Amy Works November 19, 2020

SAN JOSE, CALIF. — Cupertino, Calif.-based Hunter Properties has completed the sale of Phase I of Coleman Highline, a 1.75 million-square-foot, mixed-use campus in San Jose. The transaction included two office buildings totaling 360,000 square feet and fully leased to Roku, an amenities building and parking structure. Upon full build out, the Coleman Highline will total eight office buildings, a 175-room hotel and 115,000 square feet of amenity and retail space.

November 19, 2020

Acquisitions Arizona Industrial Western

Cohen Asset Management Sells Two Phoenix-Area Two Industrial Facilities for $45.3M

by Amy Works November 19, 2020

TOLLESON AND TEMPE, ARIZ. — Cohen Asset Management has completed the dispositions of two Class A industrial properties totaling 292,185 square feet. The dispositions fetched a combined total of $45.3 million across two transactions. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the deals. In the first transaction, KKR acquired a 249,904-square-foot warehouse/distribution facility located at 8313 W. Latham St. in Tolleson for $31.8 million. The single-tenant property is fully leased, on a long-term basis, to an international convenience store operator. A California-based high-net-worth family purchased a 42,281-square-foot Class A industrial/warehouse building located at 2077 E. University Drive in Tempe for $13.5 million. The single-tenant property is leased to a global electric vehicle and clean energy company.

November 19, 2020

NorthLight-at-Edge-on-Hudson-Sleepy-Hollow

Development Multifamily New York Northeast

Hines Breaks Ground on 246-Unit Multifamily Project in Sleepy Hollow, New York

by Taylor Williams November 19, 2020

SLEEPY HOLLOW, N.Y. — Houston-based developer Hines, in partnership with MetLife Investment Management, has broken ground on NorthLight at Edge-on-Hudson, a 246-unit multifamily project in Sleepy Hollow. The property will offer studio, one- and two-bedroom units ranging in size from 565 to 1,406 square feet with high-end finishes. Amenities will include a pool, outdoor kitchens, fire pits, open green spaces and lounge areas for social or coworking use, two penthouse terraces and a roof deck, an indoor clubhouse with coworking space, fitness center, kid’s play area and a communal kitchen and wine lounge. Leasing is scheduled to begin in the first quarter of 2022, with full completion slated for the third quarter of 2022. Santander Bank provided construction financing.

November 19, 2020

Loans Multifamily Student Housing Washington Western

Highland Realty Capital Secures $41M Financing for 976-Bed Student Housing Community Near Washington State

by Amy Works November 19, 2020

PULLMAN, WASH. — Highland Realty Capital has secured a $41 million bridge loan for The Ruckus, a 976-bed student housing community located near Washington State University in Pullman. The company secured financing — $2 million of which will be used to convert 89 four-bedroom units into three-bedroom units with bed-to-bath parity — through a Los Angeles-based debt fund on behalf of the borrower, NB Private Capital (NBPC). “Bed-to-bath parity is always an issue, and with COVID-19, it became an obvious upgrade for us to make,” says Blake Wettengel, president of NBPC.

November 19, 2020

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassHousing Provides $36M Construction Loan for Boston Affordable Housing Project

by Taylor Williams November 19, 2020

BOSTON — MassHousing has provided a $36 million construction loan for the development of The Loop at Mattapan Station, a 135-unit affordable housing community located in the Mattapan area on the south side of Boston. Preservation of Affordable Housing, a nonprofit organization, is developing the building, which will house 10,000 square feet of ground-floor retail space and is expected to be complete in June 2022. The unit mix will include six studio apartments, 38 one-bedroom apartments, 81 two-bedroom apartments and 10 three-bedroom apartments.  Approximately 30 percent of the units will be designated as workforce housing.

November 19, 2020

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