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Market ReportsTexasTexas Market Reports

Legislative Elimination of Zoning Restrictions: A New Offensive Playbook for Texas Multifamily Developers

by Taylor Williams

By Jonathan Aldaco, partner at Bell Nunnally LLP For decades, multifamily developers across Texas have faced a frustrating reality: after investing significant time and capital in projects, multifamily developments can spend months — or even years — sidelined in layers of procedural red tape before construction even begins. And while some projects eventually move forward, some never do. Senate Bill 840 (now codified as Chapter 218 of the Local Government Code) rewrites the playbook on this trend. Designed to address the shortage of housing in metropolitan areas across Texas, this new law streamlines approvals and lowers regulatory hurdles by allowing mixed-use and multifamily housing by right on commercial property. Only nine months into its implementation, Chapter 218 has made one point clear: The rules governing multifamily development in Texas have changed. Off the Sidelines, Into the Game As a threshold matter, Chapter 218 only applies to municipalities with a population of more than 150,000 that are wholly or partly located in a county with a population of more than 300,000. This means that cities like Dallas and Fort Worth and other municipalities in the metroplex like McKinney, Irving, Arlington, Frisco and Plano are impacted by Chapter 218. In total, this …

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MultifamilySeniors HousingTexas

Newmark Arranges Recapitalization of 1,546-Unit Seniors Housing Portfolio in Dallas, Houston

by Taylor Williams

DALLAS AND HOUSTON — Newmark has arranged the recapitalization of a portfolio of five seniors housing properties totaling 1,546 units that are located throughout the Dallas and Houston areas. The properties include: The Tradition-Clearfork in Fort Worth, The Tradition-Lovers Lane and The Tradition-Prestonwood in Dallas, and The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston. The properties offer independent living, assisted living and memory care services and had a combined occupancy rate of about 96 percent at the time of the recapitalization. Chad Lavender, Ryan Maconachy, Sarah Anderson, Mills Poynor and Ben McElroy of Newmark worked on behalf of the owner, Tradition Senior Living, to secure a joint venture equity investment from Kayne Anderson Real Estate. Newmark also arranged new financing for the portfolio.

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AcquisitionsIndustrialTexas

JLL Negotiates Sale of 767,520 SF Industrial Building in Brookshire, Texas

by Taylor Williams

BROOKSHIRE, TEXAS — JLL has negotiated the sale of Twinwood Distribution Center III, a 767,520-square-foot industrial building in the western Houston suburb of Brookshire. Built in 2024, the property features 40-foot clear heights, 179 dock-high doors, 185-foot truck court depths and approximately 2,600 square feet of office space. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings of JLL represented the seller, local owner-operator, Clay Development & Construction Inc., in the transaction. The buyer was Bridge Logistics Properties. Twinwood Distribution Center III was fully leased at the time of sale to an undisclosed provider of logistics services.

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Kimpton-Fredericksburg
DevelopmentHospitalityTexas

DC Partners Tops Out 210-Room Hotel in Fredericksburg, Texas

by Taylor Williams

FREDERICKSBURG, TEXAS — Houston-based developer DC Partners has topped out a 210-room hotel in the Central Texas city of Fredericksburg that will be operated under IHG Hotels & Resorts’ Kimpton brand. Designed by Merriman Anderson Architects with interiors by Curioso, the Kimpton Fredericksburg will be located within The Meuse, a 22-acre mixed-use development. The property will feature a full-service restaurant and bar, along with a poolside bar and lounge. Additional amenities will include a 10,000-square-foot outdoor pool and deck, fitness center, café and 18,500 square feet of indoor/outdoor meeting and event space. Construction began last summer. The opening is scheduled for 2027.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 94,532 SF Shopping Center in Wichita Falls, Texas

by Taylor Williams

WICHITA FALLS, TEXAS — Marcus & Millichap has brokered the sale of Parker Square Shopping Center, a 94,532-square-foot retail center in Wichita Falls, about 115 miles northwest of Fort Worth. Crunch Fitness anchors the center, which was built in 1955 and was 97 percent leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 306-Unit Apartment Community in Red Oak, Texas

by Taylor Williams

RED OAK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Emerson at Red Oak, a 306-unit apartment community in Red Oak, a southern suburb of Dallas. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 904 square feet, as well as amenities including a pool, fitness center, picnic and grilling areas, dog park, game room and a business center. Joey Tumminello, Michael Ware, Drew Kile and Taylor Hill of IPA represented the seller, CESM Real Estate, in the transaction and procured the buyer, Professional Equity Management.

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DevelopmentIndustrialTexas

Hanover, TIG Complete 213,425 SF Spec Industrial Project in South Houston

by Taylor Williams

HOUSTON — A partnership between local developer Hanover Co. and Transwestern Investment Group (TIG) has completed Kirby 288, a 213,425-square-foot speculative industrial project in South Houston. The development features a cross-dock configuration, 36-foot clear heights and excess trailer storage. Powers Brown designed the project, and Kimley-Horn acted as the civil engineer. Colliers is the leasing agent. Construction began in August 2025.

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AcquisitionsRetailTexas

JLL Brokers Sale of 113,823 SF Shopping Center in North Dallas

by Taylor Williams

DALLAS — JLL has brokered the sale of Pavilion on Lovers Lane, a 113,823-square-foot shopping center in North Dallas. Built in 1986, expanded in 2006 and renovated in 2023, the two-building center was 99 percent leased at the time of sale to tenants such as Eatzi’s, Odelay, Stay Fit Studios and La La Land Café. Barry Brown and Erin Myer of JLL represented the seller, Dallas-based Corrigan Investments, in the transaction. Wally Reid, Kristi Leonard and Luke Rogers, also with JLL, arranged acquisition financing for the deal. The buyer and direct lender were not disclosed.

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Leasing ActivityRetailTexas

Mega Furniture Signs 52,677 SF Retail Lease in Corpus Christi, Texas

by Taylor Williams

CORPUS CHRISTI, TEXAS — Mega Furniture has signed a 52,677-square-foot retail lease in Corpus Christi. The building at 4818 S. Padre Island Drive was originally constructed in 1973 and was formerly occupied by Conn’s HomePlus. Lynann Pinkham of local brokerage firm Cravey Real Estate Services represented the undisclosed landlord in the lease negotiations. Asterra Properties represented the tenant.

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AcquisitionsMultifamilyTexas

Newmark Arranges Sale of 452-Unit Apartment Community in East Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Newmark has arranged the sale of Centreport Lake, a 452-unit apartment community in East Fort Worth. Built on 24 acres in 2008, the property offers one-, two- and three-bedroom apartments with an average unit size of 946 square feet. Amenities include two pools, a dog park, business center and outdoor grilling and dining stations. Richard Furr, Brian Murphy and Brian O’Boyle Jr. of Newmark represented the seller, Marlin Spring US Realty, in the transaction. Henry Stimler and Ricky Warner, also with Newmark, arranged undisclosed amounts of acquisition financing and equity investments on behalf of the buyer, which was also not disclosed.

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