Property Type

TOMBALL, TEXAS — Dallas-based Trammell Crow Residential has broken ground on Alexan Creekside, a 380-unit multifamily community at 8627 Hufsmith Road in Tomball. The community will sit on a 20.5-acre lot on the southwest corner of Kuykendahl and Hufsmith roads, adjacent to the Village of Creekside Park addition in The Woodlands. Trammell Crow plans to open the first group of units, ranging from 691 to 1,396 square feet, later this year. The craftsman-style community will feature a brick and stone facade, staggered rooflines and varying elevations between two and three stories. Amenities will include a fitness center, resort-style courtyard, two swimming pools, fenced-in dog park with wash station and a clubhouse with WiFi access, a demonstration kitchen and a game room.

HOUSTON — Beech Street Capital LLC has closed a $30.9 million Freddie Mac CME loan for the acquisition of The Westheimer, a 244-unit multifamily community in Houston. Brian Sikes of Beech Street's Boston office originated the 10-year loan with 10-years of interest only payments and a 30-year amortization schedule. Boston-based Intercontinental Real Estate Corp. manages the borrower, U.S Real Estate Investment Fund. The property was built in 2008 and includes a security gate, pool, barbecue plaza, fireplace plaza, storage, coffee bar, massage room, dry cleaning, room service and pool-side cabanas.

SAN ANTONIO — Dallas-based Frontline Holdings, a private investment firm, has purchased the 164-unit Whispering Hills Apartments in northeast San Antonio. The Class B, garden-style community is 95 percent occupied. The property features one-, two- and three-bedroom floor plans, as well as a business center, two swimming pools and barbecue grill areas. Casey Fry of ARA's San Antonio office represented the seller, Commerce Capital, in the transaction.