Texas

BEAUMONT, TEXAS — Transwestern has brokered the sale of Pindo Pointe, a 164-unit multifamily asset located at 7390 Pindo Circle in the East Texas city of Beaumont. Ed Cummins and Ryan Mendez of Transwestern represented the landlord, Parkdale Pinto LLC, in the transaction. Ohio-based Winslow Asset Management purchased the property for an undisclosed price.

PASADENA, TEXAS — Marcus & Millichap has brokered the sale of two multifamily properties totaling 980 units in the Houston metro of Pasadena. The 514-unit Alta Vista and the 468-unit Las Villas are both located near Port Houston, with access to State Highway 225, the Sam Houston Tollway and Interstate 45. Both properties were built in 1970 and renovated between 2012 and 2015. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller, Empire Square Group, a New York-based private equity firm, in the transaction. Fript procured the buyer, an undisclosed multifamily operator based in Houston.    

SAN ANTONIO — Online commercial real estate firm ArborCrowd has offered investors an opportunity to own equity interests in Quarry Station Apartments, a 306-unit multifamily community in San Antonio’s Alamo Heights neighborhood. The total capitalization of the deal is $40.8 million, with ArborCrowd raising $3.2 million in equity and projecting a return of 16 to 19 percent across a two- to four-year hold period. As part of the deal, the current owner will invest in upgrades to the property’s interiors and exteriors. ArborCrowd is a crowdfunding real estate investment organization that is part of the Arbor family of companies, including Arbor Realty Trust, Arbor Commercial Mortgage and AMAC.