DENTON, TEXAS — A partnership between Connecticut-based Spirit Investment Partners and Strategic Value Partners, which also operates out of Connecticut, has purchased Resia Rayzor Ranch, a 322-unit apartment community in the North Texas city of Denton. Built in 2024, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Miami-based Resia previously owned the property, which was acquired as part of a two-property portfolio deal that included a 573-unit community in Houston. Jamie Leachman and Carter Wroblewski of JLL arranged acquisition financing for the deal through Oaktree Capital Management.
CELINA, TEXAS — Cedarwood Cos., an Ohio-based developer, has broken ground on Topaz at Light Farms Way, a 272-unit multifamily project in the North Texas city of Celina. The property will offer studio, one- and two-bedroom units, and amenities will include a pool, fitness center, dog park, playground, car care center and access to walking trails and green spaces. Cedarwood’s in-house general contracting team is handling construction of the project. The first residences are expected to be available for occupancy next summer.
HOUSTON — A partnership between Connecticut-based Spirit Investment Partners and Strategic Value Partners, which also operates out of Connecticut, has purchased Resia Ten Oaks, a 573-unit apartment community in West Houston. Built in 2024, the property offers one-, two- and three-bedroom units that according to Apartments.com range in size from 608 to 1,033 square feet. Amenities include a pool, fitness center, playground and a clubhouse. Jamie Leachman and Carter Wroblewski of JLL arranged acquisition financing for the deal through Oaktree Capital Management. The seller was Miami-based Resia. The new ownership has since rebranded the property.
NEWPORT BEACH, CALIF. — Talonvest Capital, a California-based intermediary, has arranged a $47.7 million permanent loan for a portfolio of six self-storage facilities in Texas. The number of units was not disclosed, but the portfolio spans more than 600,000 net rentable square feet. The facilities are located in Austin, McKinney, Frisco, Houston and Bee Cave. The borrower was a partnership between The Jenkins Organization, a Houston-based owner-operator, and Kansas-based Clark Investment Group The direct lender was not disclosed.
HOUSTON — Brokerage firm Rockspring Properties has negotiated the sale of a portfolio of four grocery stores totaling 145,546 square feet in Houston. Seller Bros. is the owner and occupant of the stores, three of which are located in Houston proper and one of which is located in the eastern suburb of Pasadena. The buyer was Reliable Properties. Cotton Munson, Mike Axelrad and Aimee Namakarn of Rockspring Properties brokered the deal.
HASLET, TEXAS — Joby Aviation Inc. (NYSE: JOBY), a manufacturer of eVTOL (electric vertical take-off and landing) aircraft for commercial passenger transportation, has signed a 45,000-square-foot industrial lease in Haslet, located north of Fort Worth. The space is located within Alliance Air Trade Center, which is part of Perot Field Fort Worth Alliance Airport. No third-party brokers were involved in the lease negotiations.
By Taylor Williams New development within the Houston industrial market is increasingly skewing toward data centers and advanced manufacturing projects, creating new hurdles for architectural, engineering and contracting (AEC) teams to overcome in terms of labor and timing. At the annual InterFace Houston Industrial conference that took place in late August at The Briar Club and was attended by more than 200 industry professionals, Jason Cooper, president at Houston-based general contractor Arch-Con Corp., immediately cited both of these issues when asked about the biggest challenges the industry faces today. Braylie Manson, business development associate in the Houston office of Texas-based engineering firm Dunaway, moderated the conference’s design and construction panel. “The most difficult thing of the past year, excluding the past month or so, has been getting highly qualified subcontractors on board that can keep the schedules that are expected,” said Cooper. “Schedules keep accelerating; we have to turn these projects over faster and faster, so [as general contractors], we have to be very selective about which subcontractors we use to avoid delays.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about …
KYLE, TEXAS — General contractor Cadence McShane has completed a 75,000-square-foot industrial project in Kyle, a southern suburb of Austin. Designed by Studio 8 Architects and developed by TIG Real Estate Services, the project represents Phase I of a41-acre development known as Kyle Technology Park and consists of three 25,000-square-foot buildings. The buildings feature 35-foot clear heights and were designed to accommodate multiple users. Kyle Technology Park is ultimately planned to encompass 11 buildings totaling approximately 300,000 square feet.
RICHMOND, TEXAS — Seattle-based lender Avatar Financial Group has provided a $3.9 million bridge loan for the 80-room Fairfield Inn & Suites byMarriott hotel in Richmond, a southwestern suburb of Houston. The three-story, limited-service hotel was built on 2.5 acres in 2020 and offers amenities such as an outdoor pool, fitness center, business center and a sundries shop. The borrower, an entity doing business as Epic Hotel Investors LLC, recently acquired the hotel from its original developer and will use a portion of the loan proceeds to fund capital improvements.
FORT WORTH, TEXAS — Neveon USA, a provider of upholstery, foam and insulation products, has signed a 59,000-square-foot industrial lease renewal and expansion in northeast Fort Worth. The space is located within Riverbend Business Park, a 32-building, 1.4 million-square-foot development. Grayson Fleitz and Matt Carthey of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. The tenant representative was not disclosed, but Newmark represented Neveon in its previous lease for 50,000 square feet at the property in 2023.