Property Type

Milhaus, Humphreys Capital Complete 276-Unit Oxlley Apartments in Edmond, Oklahoma

by Taylor Williams June 30, 2025

EDMOND, OKLA. — A partnership between Indianapolis-based developer Milhaus and locally based investment firm Humphreys Capital has completed Oxlley Apartments, a 276-unit multifamily community in Edmond, about 15 miles north of Oklahoma City. Located at 101 W. Main St. in the historic downtown area, Oxlley features studio, one-, two- and three-bedroom units. Amenities include a 24-hour fitness center, electric vehicle charging stations, conference rooms for remote workers, a dog park and a pet spa. Rents start at $1,225 per month for a studio apartment.

June 30, 2025

Civic Development Texas

AP Construction Begins Renovation of McCallum High School in North Austin

by Taylor Williams June 30, 2025

AUSTIN, TEXAS — Adolfson & Peterson (AP) Construction has begun the renovation of McCallum High School, which is part of the Austin Independent School District and located on the city’s north side. The school originally opened in 1955 and serves roughly 1,500 students. The project team will demolish the existing 30,000-square-foot science wing and deliver a 50,000-square-foot facility with computer labs, robotics, a wood shop and spaces for biology, chemistry and physics classes. In addition, the entry vestibule and front office will be reconfigured/remodeled for enhanced security. PBK Architects is leading design of the renovation, which is expected to be complete in fall 2026.

June 30, 2025

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

Cavan Cos. Sells Build-to-Rent Project in Gilbert, Arizona for $66M

by Amy Works June 30, 2025

GILBERT, ARIZ. — Cavan Cos. has sold The Bungalows at San Tan Village, a 159-unit build-to-rent (BTR) community in Gilbert to AEW Capital Management. The sales price was $66 million. Cavan Cos. began construction of the property in 2021 and completed it in 2024. The Bungalows at San Tan Village was 97 percent occupied at the time of closing. The community offers a mix of one-, two- and three-bedroom single-story homes, each featuring private backyards and smart home systems. Amenities include a resort-style lap pool and a hot tub, a fitness studio, dog park, walking trail, playground and a resident clubhouse. The Bungalows is Cavan’s branded BTR product. The company has developed communities in Arizona and Nebraska under this name.

June 30, 2025

Acquisitions Arizona Industrial Western

Cohen Asset Management Acquires 168,000 SF Desert Cove Industrial Center Near Phoenix

by Amy Works June 30, 2025

SURPRISE, ARIZ. — An affiliate of Cohen Asset Management has purchased Desert Cove Industrial Center, a Class A industrial property in Surprise, from Evergreen Development for $36.3 million. Delivered in June 2024 by the seller, the freestanding single-tenant building is fully leased to BP Lubricants USA Inc., doing business as Castrol Oil. Situated on 9.4 acres at 11301 N. Litchfield Road, Desert Cove Industrial Center offers 168,000 square feet, multiple access points, functional column spacing, ample parking for trailer and auto and substantial power supply. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the deal. Brian Share and Garrett Stasand of Cushman & Wakefield Equity, Debt & Structured Finance team advised on the acquisition financing. John Werstler, Cooper Fratt and Tanner Ferrandi of CBRE provided market leasing advisory services.

June 30, 2025

Acquisitions Montana Multifamily Western

Brinkman Real Estate Buys 180-Unit Apartment Community in Kalispell, Montana

by Amy Works June 30, 2025

KALISPELL, MONT. — Brinkman Real Estate has acquired The Meridian Apartments, a Class A multifamily property in Kalispell. Terms of the transaction were not disclosed. The company’s capital markets team, in partnership with Greystone’s debt team led by Tim Wright, executed a Fannie Mae loan assumption and simultaneously closed on a supplemental loan. Built in 2023, The Meridian offers 180 studio, one- and two-bedroom apartments with quartz countertops, stainless steel appliances and vinyl plank flooring and keyless entry. Community amenities include a basketball court, an outdoor grill and picnic area, a dog park and onsite leasing and maintenance. Brinkman plans to implement an improvement program including the addition of in-unit laundry facilities, fencing for first-floor studios and upgrades to the dog park and shared outdoor areas. Entrust Property Solutions will provide operational management services for the property.

June 30, 2025

Acquisitions Retail Texas

Whitestone REIT Acquires 86,907 SF Shopping Center in Southwest Fort Worth

by Taylor Williams June 30, 2025

FORT WORTH, TEXAS — Houston-based Whitestone REIT (NYSE: WSR) has acquired 5000 South Hulen, an 86,907-square-foot shopping center in southwest Fort Worth. Built in 2005, the center is adjacent to Hulen Mall and was 96 percent leased at the time of sale to tenants such as Sephora, Old Navy, Barnes & Noble, Potbelly, Sports Clips, Kincaid’s Hamburgers and Jamba Juice. Chris Gerard, Adam Howells and Erin Lazarus of JLL represented the seller, a partnership between Trademark Property Co. and Alto Real Estate Fund, in the transaction.

June 30, 2025

Affordable Housing Arizona Development Multifamily Western

Wespac Residential Breaks Ground on First Affordable Housing Project in Sedona, Arizona

by Amy Works June 30, 2025

SEDONA, ARIZ. — Wespac Residential, as general contractor, has broken ground on The Villas on Shelby, an affordable multifamily property in Sedona. Project partners include HS Development Partners, the City of Sedona, Athena Studio and the Arizona Department of Housing. The Villas on Shelby will be Sedona’s first-ever affordable housing community and will be funded through federal Low-Income Housing Tax Credits (LIHTC). Situated on a 1.2-acre site acquired by the City of Sedona, the three-story apartment complex will feature 30 affordable rental homes, including 24 one-bedroom units and six three-bedroom units. The development will include covered parking, a community room with a kitchen, fitness room, playground and elevator access. Additionally, the property will feature future-ready infrastructure with stubs in place for electric vehicle charging stations. Construction is underway, with completion and tenant move-in scheduled for May 2026. In addition to federal LIHTC, the project is being funded via an investment from the State Housing Trust Fund, part of Governor Katie Hobbs’ allocation toward addressing Arizona’s housing crisis.

June 30, 2025

Leasing Activity Retail Texas

EōS Fitness to Open 45,000 SF Gym at Spring Creek Plaza in Plano

by Taylor Williams June 30, 2025

PLANO, TEXAS — EōS Fitness will open a 45,000-square-foot gym in Plano. The locally based operator will backfill a space previously occupied by LA Fitness at The Plaza at Spring Creek, a 26-acre lifestyle center that is also home to tenants such as Starbucks, Five Guys and Capital One. Segovia Partners represented EōS Fitness in the lease negotiations. Rosebriar Properties represented the undisclosed landlord. The opening is scheduled for 2027.

June 30, 2025

Acquisitions California Office Western

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works June 30, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

June 30, 2025

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 44,648 SF Industrial Lease in Round Rock, Texas

by Taylor Williams June 30, 2025

ROUND ROCK, TEXAS — Lee & Associates has negotiated a 44,648-square-foot industrial lease in the northern Austin suburb of Round Rock. The tenant was not disclosed. The space is located within Greenhill Distribution Center, which according to LoopNet Inc. was built in 1999. Adam Green and Will Sallis of Lee & Associates represented the landlord, Mississippi-based REIT EastGroup Properties, in the lease negotiations.

June 30, 2025

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