BIXBY, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $14.7 million in joint venture equity for a 161-unit, build-to-rent residential community in Bixby, a southern suburb of Tulsa. The development will offer one-bed duplexes and two-, three- and four-bedroom farmhouse-style homes. Residences will feature private garages and backyards, and communal amenities will include a pool, fitness center and a clubhouse. Justin Shuart and Travis Headapohl of MMCC structured the equity on behalf of the developer, a partnership led by ACRE Development Partners.
SAN ANGELO, TEXAS — General contractor Hoar Construction has broken ground on a 142,000-square-foot healthcare project in the Central Texas city of San Angelo. The seven-story building will be an expansion of the 1.5 million-square-foot Shannon Medical Center, and the operator of that facility is also the lead developer of the project. The building will comprise three levels of parking and four levels of patient care facilities, including a 19,310-square-foot intensive care unit. Completion is slated for summer 2024.
HOUSTON — Locally based investment firm Pagewood has acquired a 97,997-square-foot industrial property located at 10205 Market St. Road in East Houston. The multi-tenant facility, which was built in phases during the late 1980s/early 1990s, offers proximity to Port Houston as well as Interstates 10 and 610. Nick Spearman oversaw the transaction for Pagewood, which plans to implement a value-add program, on an internal basis. The seller and sales price were not disclosed. The property was 80 percent leased at the time of sale.
HOUSTON — Wolfies Swim School will open a 16,800-square-foot venue in Houston’s Spring Branch neighborhood this summer. The space at 9336 Westview Drive will house two pools that will be designed to support swimmers of varying ages and experience levels. According to LoopNet Inc., the property was built in 1970, renovated in 2005 and was most recently occupied by 24 Hour Fitness. Harry Holmes and Charlie Neuhaus of Partners represented the tenant in the lease negotiations. The landlord was self-represented.
HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Haltom City Self Storage, a 328-unit facility located on the northern outskirts of Fort Worth. The property was built in 1985 and totals 39,570 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based private investor, in the off-market transaction. The duo also procured a Phoenix-based investment firm as the buyer. Both parties requested anonymity.
SAN ANTONIO — Wisconsin-based investment firm MLG Capital has acquired Springs at Alamo Ranch, a 232-unit apartment community in San Antonio. The 227,000-square-foot, Class A community offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, pet playground and an onsite car care center. MLG Capital plans to implement a value-add program and rebrand the property as Reata Alamo Ranch. The seller was not disclosed.
NORTH RICHLAND HILLS, TEXAS — SPI Advisory, an investment firm with offices in Dallas and Austin, has sold Wood Meadow Apartments, a 222-unit multifamily property located in the Fort Worth suburb of North Richland Hills. Built in 1984 and renovated in 2018, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and courtyards. SPI and its partners acquired Wood Meadow Apartments in 2017. The buyer and sales price were not disclosed.
SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. A New York-based private equity group acquired the property for $21 million in an all-cash transaction. Blueprint represented a court-appointed receiver to maximize proceeds for the trustee group and stakeholders involved. The buyer plans to install its Texas-based operator partner to manage the community.
AUSTIN, TEXAS — The Kroger Co. (NYSE: KR) has opened a 70,000-square-foot delivery service center in Austin. The Cincinnati-based grocer signed a six-year lease to occupy one of three buildings at Tuscany Logistics Center, a 373,648-square-foot development on the city’s northeast side. Target (NYSE: TGT) and Diligent Delivery occupy the other two buildings at Tuscany Logistics Center, which is owned by Dallas-based Dalfen Industrial.
SAN ANTONIO — Newmark has arranged the sale of a portfolio of three multifamily properties totaling 828 units in San Antonio. The portfolio spans from north-central to western San Antonio and includes Spice Creek, The Clara and The Maxwell. Matt Michelson of Newmark represented the seller, a partnership between Texas-based Multifamily Acquisition Advisors and California-based Blackhawk Property Holding, in the transaction. Henry Stimler, William Weber, Matt Mense, Ari Schwartzbard and Daniel Sarsfield, also with Newmark, originated Freddie Mac acquisition financing on behalf of the buyer, Harbor Group International.