REBusinessOnline

Olympus Property Sells 374-Unit Multifamily Asset in Northwest Houston

HOUSTON — Fort Worth-based Olympus Property Group has sold The Tradewinds at Willowbrook, a 374-unit multifamily community in northwest Houston. The property was built in 2007 and consists of 14 three-story buildings. Floor plans comprise one-, two- and three-bedroom units averaging 920 square feet, with select units offering wood floors, patios and fireplaces. Amenities include a resort-style pool, jogging trails, a business center, fitness center and outdoor picnic area with gas grills and …

NKF Brokers Sale of 330-Unit Apartment Community in Metro Austin

ROUND ROCK, TEXAS — Newmark Knight Frank (NKF) has brokered the sale of The Ace, a 330-unit multifamily community located in the northern Austin suburb of Round Rock. The Class A property is located near the corporate campuses of Dell, Apple and Samsung, as well as The Domain, a shopping and dining destination. Units at the property, which was built in 2018, average 918 square feet and offer wood-style flooring, stainless steel appliances and granite countertops. Amenities include a pool, …

Sam Moon Group Breaks Ground on 148-Room Hyatt House Hotel in Metro Houston

SHENANDOAH, TEXAS — Hospitality developer Sam Moon Group has broken ground on a 148-room Hyatt House hotel within the Metropark Square mixed-use development in Shenandoah, located north of Houston. The five-story property will feature studio, one- and two-bedroom suite with fully equipped kitchens and separate living guestrooms. Communal amenities will include a pool and a fitness center, a bar and a lounge. VCC is the general contractor for the project, and Type Six is the architect. Veritex …

Crunch to Open $2.5M Gym in Corpus Christi

CORPUS CHRISTI, TEXAS — National fitness chain Crunch will open a $2.5 million, 25,000-square-foot gym in Corpus Christi. The facility will be located within the Carmel Village Shopping Center and will be open 24 hours a day beginning in fall 2019. The gym will offer more than 70 classes per week, a training area with indoor turf and tanning beds. Crunch also plans to open 21 more gyms throughout Central Texas over the next five

SLIB Negotiates Sale of 40-Unit Seniors Housing Community Near Austin

PFLUGERVILLE, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Heatherwilde Assisted Living, located in the Austin suburb of Pflugerville. A local partnership looking to exit the seniors housing industry sold the property to a Fort Worth-based owner-operator for an undisclosed price. Heatherwilde features 40 units on a 2.6-acre lot. The community is situated adjacent to Pflugerville Health Care Center and Pflugerville Middle School. Matthew Alley of SLIB arranged …

Trademark Property Co. to Redevelop 1.7 MSF Memorial City Mall in Houston

HOUSTON — Fort Worth-based Trademark Property Co. has been tapped by MetroNational, the owner of Memorial City Mall in Houston, to redevelop the 1.7 million-square-foot shopping center. Redevelopment plans include reimagining the south side of the mall, which recently saw its anchor tenant Sears close its doors, as well as creating additional public spaces and adding more entertainment uses. The mall is located along the Interstate 10 corridor, just inside Beltway 8, and is part of the …

HFF Negotiates Sale of Office, Retail Properties Totaling 421,617 SF in Dallas’ Victory Park

DALLAS — HFF has negotiated the sale of several office and retail buildings totaling 421,617 square feet within Victory Park, a 75-acre mixed-use development in Dallas. Ryan Shore, Barry Brown and Chris Gerard of HFF represented the seller, Orlando-based investment firm Estein USA. Charlotte-based Asana Partners purchased the properties for an undisclosed price in an off-market transaction. The Victory Park area, located where Uptown and downtown Dallas converge, houses approximately 3,500 …

Thorofare Capital Funds $24M Acquisition Loan for Multifamily Portfolio in San Antonio

SAN ANTONIO — Los Angeles-based Thorofare Capital has provided a $24 million acquisition loan for a portfolio of multifamily properties totaling 338 units in San Antonio. The five-year, nonrecourse loan features a floating interest rate, 75 percent loan-to-cost structure and flexible prepayment options. A portion of the proceeds will be used to fund expenditures for capital improvements. The borrower was not

Arbor Provides $18.3M Fannie Mae Loan for Refinancing of Houston Apartments

HOUSTON — Arbor Realty Trust Inc. has provided an $18.3 million Fannie Mae loan for the refinancing of an undisclosed apartment community in Houston. The loan was sourced through Fannie Mae’s ARM 7-6 program, which allows borrowers to secure seven-year loans with floating interest rates with the option to be converted to fixed-rate loans. Matt Norman of Arbor’s Bloomington, Ind., office originated the loan on behalf of an undisclosed

Marcus & Millichap Arranges Sale of 4,885 SF Retail Property in Austin Leased to QuikTrip

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of a 4,885-square-foot commercial property net-leased to QuikTrip in Austin. Anthony Pucciarello and Vincent Knipp of Marcus & Millichap had the exclusive listing to market the property on a sale-leaseback basis. Derrick Dougherty, also with Marcus & Millichap, represented the buyer, which acquired the property via a 1031

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