HOUSTON — Developer Raven Capital has completed FORME, a 33-story multifamily high-rise located at 5501 La Branch St. in Houston’s Museum District. Designed by LJC Design & Engineering and operated by Sentral, FORME features 475 units, including 55 boutique hotel suites. Residences range from 500-square-foot studios to 1,400-square-foot three-bedroom apartments, all of which are equipped with walk-in closets and smart-home technology. The property also features a pool and hot tub, 20,000 square feet of fitness and recovery areas and 20,000 square feet of coworking space with reservable offices and quiet zones. The 12th floor is occupied by The Branch on La Branch, a cocktail lounge and raw bar. Rents start at $1,750 per month for a studio apartment.
Texas
SAN ANTONIO — JLL has negotiated the sale of The Legacy Shopping Center, a 353,000-square-foot retail power center located in San Antonio’s Far North Central submarket. Built in 2006 on 32.2 acres, The Legacy is home to tenants such as Main Event Entertainment, Best Buy, Spec’s Wines, Spirits & Finer Foods, Paul Mitchell and Buffalo Wild Wings. The center also includes second-floor office space and five pad sites. Barry Brown, Whitney Snell and Shea Petrick of JLL represented the seller, Santikos Real Estate Services, in the transaction. The buyer was a partnership between Rio Capital and Triangle Capital Group.
CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Action Storage U-Haul, a 279-unit facility in Corpus Christi. The property spans 51,164 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster, Hugh Horne and Kirk Silas of Versal represented the seller, a locally based entity doing business as Mission Lake Estates Inc., in the transaction. The team also procured the buyer, Dallas-based Hinze Capital.
FORT WORTH, TEXAS — NWA Recycling has signed a 17,896-square-foot industrial lease in southeast Fort Worth. The space is located along Fairlane Avenue, although the address was not disclosed. Walker Floyd and Patrick Kelley of Holt Lunsford Commercial represented the tenant in the lease negotiations. Finn Wilson of LanCarte Commercial represented the landlord, Faropoint.
DALLAS — Marcus & Millichap has brokered the sale of Infinity on the Point, a 249-unit apartment complex in North Dallas. According to Apartments.com, the property offers one- and two-bedroom units. Amenities at the three-story, garden-style property include a pool, sundeck, grilling stations, dog park, fitness center, package lockers and covered parking. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap, along with Drew Kile, Taylor Hill, Joey Tumminell, Michael Ware and William Hubbard of Marcus & Millichap’s Institutional Property Advisors (IPA) division, represented the seller, a California-based investment company, in the transaction. The team also procured the buyer, Reap Capital, which plans to rebrand the property as The Creekside at Vantage.
DALLAS — Newmark has arranged the sale of 8020 Park Lane, a 120,923-square-foot office building located within The Shops at Park Lane mixed-use district in North Dallas. Built in 2015, the five-story building was fully leased at the time of sale to Energy Transfer LP. Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan of Newmark represented the seller, Northwood Investors, in the transaction. Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis, also with Newmark, arranged acquisition financing on behalf of the buyer, DFW Land.
DALLAS — Local brokerage firm Holt Lunsford Commercial has negotiated a 20,258-square-foot industrial lease renewal in northeast Dallas. The tenant is Nevitt Fragrances Inc., and the space is located within the building at 10480 Markison Road, which according to LoopNet Inc. was built in 1987 and totals 49,107 square feet. Josh Barnes, Blake Troiani and Danny Phillips of Holt Lunsford represented the landlord, ATCAP Partners, in the lease negotiations. Adam Jones of Stream Realty Partners represented the tenant.
SOUTHLAKE, TEXAS — ATLIX, a supplier of industrial metal 3D printers, has signed a 17,180-square-foot industrial lease in Southlake, located northeast of Fort Worth. The space is located within the building at 1825 Mustang Court and includes 4,300 square feet of office space. Shane Benner of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Keaton Brice, Andrew Gilbert and Maddy Coffman of Holt Lunsford Commercial represented the landlord, Brookfield Properties.
DALLAS — Crow Holdings, a privately owned real estate investment and development firm based in Dallas, has received $380.2 million for the refinancing of a multifamily portfolio. Totaling 1,549 units, the portfolio is located in Texas, Colorado and Virginia. The properties include Alexan Lower Greenville in Dallas; Alexan Braker Pointe and Alexan Waterloo in Austin, Texas; Alexan Julian in Denver; and Alexan Florence in Alexandria, Va. AllianceBernstein provided the financing. Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman of CBRE secured the refinancing on behalf of the borrower. Trammell Crow Residential (TCR) developed each of the communities in partnership with Crow Holdings. Alexan Lower Greenville totals 475 units and was built in 2019. Built in 2023, Alexan Braker Pointe comprises 314 units across six stories. Alexan Waterloo was built in 2021 and features 272 units. Alexan Julian was built in 2020, and Alexan Florence was delivered a year later, in 2021, with 286 units. Based in Dallas, TCR is a real estate development company of Crow Holdings. Since its inception 45 years ago, the firm has built more than 291,000 multifamily units, with a local presence in 15 U.S. markets. — Hayden Spiess
RICHARDSON, TEXAS — MG Properties has purchased Reserve at Spring Creek, a 458-unit apartment community located in the northeastern Dallas suburb of Richardson. Built on 17 acres in 2019, the property offers one-, two- and three-bedroom units with an average size of 921 square feet and amenities such as a pool, fitness center, outdoor grilling and dining stations, coworking lounge, coffee bar and a social lounge. Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Jack Windham of Institutional Property Advisors (IPA) a division of Marcus & Millichap, represented the seller, , an affiliate of Lone Star Funds, in the transaction. Cameron Chalfant, Brian Eisendrath, Harry Krieger and Scott Arenzon, also with IPA, arranged an undisclosed amount of agency acquisition financing for the deal.
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