Texas

HOUSTON — HFF has secured acquisition financing for Cityside Crossing, a 360-unit apartment complex in southeast Houston near the University of Houston main campus. HFF worked on behalf of Commerce Capital Partners LLC (ComCapp) to secure the 12-year, fixed-rate Fannie Mae loan through M&T Realty Capital Corp. Cityside Crossing is located at 5514 Griggs Road near the South Loop East Freeway and the newly completed METRORail Southeast/Purple line. The asset was 95 percent occupied at the time of financing. Robert Wooten led the HFF debt placement team representing ComCapp.

PROSPER, TEXAS — Venture Commercial Real Estate has brokered the sale of 26 acres near Windsong Ranch for a 300-unit, townhome-style apartment development located within the Prosper Independent School District. Terre Verde Group, the developer of Windsong Ranch, sold the land tract to Atlanta-based Davis Development. The property is located at the northeast quadrant of Highway 380 and Gee Road, adjacent to a new 300,000-square-foot, Kroger-anchored retail development expected to break ground in December. Ken Reimer, Edward Bogel and David Davidson Jr. of Venture represented the seller, Terra Verde Group, in the transaction. Bogel and Davidson represented the buyer, Davis Development. The $1.2 billion Windsong Ranch master-planned development is located a little more than two miles west of the Dallas North Tollway on Highway 380. The property will include 3,100 single-family residential lots, 150 acres of mixed-use development along U.S Highway 380 and 600 acres of open space with native preserves, trails and parks. The first three phases have been completed and are now open.

AUSTIN, TEXAS — Castle Lanterra Properties has acquired Stonegate Apartments, a 452-unit, class A property in Austin. An institutional ownership group was the seller. The property was built in 2003 and is located just off I-35. Stonegate consists of 24 two- and three-story buildings in a variety of floor plans. Amenities include a clubhouse with a leasing office, business center, fitness center and recreation room. The property also features two swimming pools and barbeque grilling stations. Planned unit upgrades will include new lighting and plumbing fixtures, stainless steel appliances and wood vinyl plank flooring. Castle Lanterra Properties acquires, improves, repositions and manages a portfolio of multifamily properties.

ODESSA, TEXAS — Marcus & Millichap has arranged the sale of Village Place, a 100-unit multifamily property located in Odessa. Joe James and Kent Myers of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a Texas-based development company. Village Place is located at 1100 Milburn Ave., within one mile of U.S. Highway 385 and one mile from I-20. The property was built in 1971.