CYPRESS, TEXAS — New York City-based Affinius Capital has provided a $35 million loan for the refinancing of Village Green at Bridgeland Central, a 198,000-square-foot retail and office property located in the northwestern Houston suburb of Cypress. Grocer H-E-B anchors the retail component of the property, which is located within the Bridgeland master-planned community. The property’s office component comprises a three-story, 49,000-square-foot mass timber building that was close to fully leased at the time of the loan closing. Colby Mueck, Kelly Layne, Jack Britton and Scot Sarlin of JLL arranged the loan on behalf of the owner, Howard Hughes Holdings.
AUSTIN, TEXAS — Locally based owner-operator JMI Realty has received a $28.8 million acquisition loan for the 254-room Hilton Garden Inn Austin Downtown hotel. The hotel offers a variety of accommodations in addition to amenities such as a pool, fitness center and onsite food-and-beverage options. Beau Williams and Drew Gilligan of ThirtyFourth Capital, a Connecticut-based capital markets advisory firm that specializes in hospitality deals, arranged the loan through an undisclosed regional bank.
PLANO, TEXAS — Newmark has brokered the sale of Hathaway at Willow Bend, a 229-unit apartment complex in Plano. The property offers one-, two- and three-bedroom units and amenities such as two pools, a fitness center, outdoor kitchen and a dog park. Richard Furr, Brian O’Boyle Jr., Brian Murphy and Jack Forman of Newmark represented the seller, S2 Capital, in the transaction. Brian Kochan and Michael Caglianon, also with Newmark, arranged acquisition financing on behalf of the buyer, Granite Towers Equity Group.
PROSPER, TEXAS — JLL has negotiated the sale of an 86,698-square-foot shopping center in Prosper, a northern suburb of Dallas. Shops at Prosper Trail was built in 2016 and was fully leased at the time of sale. Dallas-based Younger Partners Investments sold the center to Ohio-based retail REIT Phillips Edison & Co. for an undisclosed price. Adam Howells and Erin Myer of JLL brokered the deal.
LONGVIEW, TEXAS — Fort Worth-based owner-operator Trademark Property Co. has provided updates on the repositioning of the 646,000-square-foot Longview Mall in East Texas. Since acquiring the mall a year ago in partnership with department store retailer Dillard’s, Trademark has upgraded the parking lot, exterior lighting and painting, landscaping and specialty leasing retail merchandising unit. Trademark is also planning to add a new children’s play area and update the interior paintwork and seating throughout the common areas.
ATHENS, TEXAS — Marcus & Millichap has brokered the sale of North Loop Mini Warehouses, a 277-unit self-storage facility in Athens, about 75 miles southeast of Dallas. The facility was built on 7.6 acres in 1994 and spans 53,812 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local family, in the transaction and procured the buyer, a California-based private investor. Both parties requested anonymity.
HOUSTON — Locally based brokerage and investment firm Finial Group has acquired a 21,500-square-foot industrial building in North Houston. The building at 15375 Vantage Parkway E features 20-foot clear heights, two grade-level doors and four dock-high doors. The building was leased to Williams Insulation at the time of sale. The seller and sales price were not disclosed.
OKLAHOMA CITY — Dallas-based brokerage firm Summit RE has arranged the sale of Quail Springs Shoppes, an 11,397-square-foot retail strip center in Oklahoma City. Tenants include CNS Jewelry & Watch Repair and Sit Still Kids Salon. Hudson Lambert of Summit RE represented the seller, a local developer, in the transaction and procured the buyer, a 1031 exchange investor. Both parties requested anonymity,
CHICAGO — A partnership between The Scion Group and funds managed by Ares Real Estate has acquired a portfolio of four student housing properties in Sun Belt markets. The aggregate purchase price for the 2,315-bed portfolio was approximately $435 million. The seller, Chicago-based SCHENK+, developed three of the properties and acquired and repositioned the fourth. The portfolio includes two communities serving students attending Texas State University in San Marcos, Texas: The Parlor and Hillside San Marcos. The other two properties are Tenn near University of Tennessee in Knoxville and Georgia Heights near the University of Georgia in Athens. Chicago-based Scion currently operates in all three student housing markets. The company says this acquisition represents a “comprehensive exit” for SCHENK+’s founder, Jared Schenk. “Jared Schenk is one of the true pioneers of off-campus student housing, and he has built an incredible portfolio of high-quality communities,” says Robert Bronstein, CEO of Scion. “Scion is pleased to add another successful portfolio execution to our track record, and we are even more excited to welcome these communities to our portfolio.” Founded in 1999, Scion is the world’s largest owner of off-campus student housing. Following this transaction, Scion will operate nearly 117,000 beds across 187 …
By Cyrus Khadivi, regional vice president of sales, LoopNet Inc./Ten-X For a Dallas multifamily investor considering where to allocate the next deployment of capital, the process and ultimate solution may be more complex than simply seeking the next acquisition. Looking ahead to 2027, the options could range from competing for additional assets in Dallas, pursuing lower-cost alternatives in other parts of the market, making larger investments in properties currently in their portfolio or simply keeping cash on hand until a better deal comes along. No matter what strategy the investor chooses, the deal execution will follow an extended period during which Texas multifamily owners have dealt with increasing debt rates, slowed rent growth in oversupplied markets and higher operating costs. Deals continue to happen, but investors are evaluating them with more attention to underlying fundamentals. According to a new survey among U.S multifamily investors conducted by LoopNet Inc., about a third of survey participants are planning to focus on upgrades to add value to their portfolios and increase rents in the coming year. An equal number plan to keep extra money to weather market downturns, and roughly a quarter of investors plan to make no portfolio changes at all. In …
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