Texas

Trez Capital Sells Two Apartment Communities Totaling 608 Units in Metro Austin

by Taylor Williams January 30, 2023

PFLUGERVILLE, TEXAS — Trez Capital has sold The Dalton and The Beacon, two apartment communities in the northern Austin suburb of Pflugerville that total 350 and 258 units, respectively. Trez Capital developed both properties in partnership with Thompson Realty Capital, with construction on both projects commencing in late 2019/early 2020 and wrapping up in 2021 and 2022, respectively. The Dalton and The Beacon both feature one-, two- and three-bedroom units and amenities such as pools, fitness centers, outdoor grilling and dining areas, dog parks and resident lounges. TerraCap Management purchased the assets. The sales price was not disclosed, but global real estate private equity firm ACRE provided $111 million in acquisition financing for the deal. Newmark arranged the debt.

January 30, 2023

Development Multifamily Texas

Sueba USA Opens 318-Unit San Estrella Apartments in Houston’s Energy Corridor

by Taylor Williams January 30, 2023

HOUSTON — Locally based developer Sueba USA has opened San Estrella, a 318-unit apartment community in Houston’s Energy Corridor neighborhood. Units come in one-, two- and three-bedroom floor plans that range in size from 480 to 2,087 square feet. Residences are furnished with stainless steel appliances, granite countertops, tile backsplashes and walk-in closets. Amenities include a pool, fitness center, internet café, business center, catering kitchen and outdoor grilling and dining areas. Rents start at roughly $1,200 per month for a one-bedroom unit.

January 30, 2023

Affordable Housing Development Multifamily Oklahoma Texas

TWG to Develop $47M Affordable Housing Project in Oklahoma City

by Taylor Williams January 30, 2023

OKLAHOMA CITY — Indianapolis-based multifamily developer TWG will build Fairground Flats, a $47 million affordable housing project in Oklahoma City. The six-building, 216-unit complex will house one-, two- and three-bedroom units that will be reserved for households earning 60 percent or less of the area median income. Amenities will include a pool, fitness center, playground and a clubhouse with a computer lab. The Oklahoma Housing Finance Agency provided a $33.6 million tax-exempt bond for the project. Construction is slated for an early 2024 completion.

January 30, 2023

Acquisitions Multifamily Texas

Northmarq Arranges Sale of 74-Unit Multifamily Property in Corpus Christi

by Taylor Williams January 30, 2023

CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of The Carmel Apartments, a 74-unit multifamily property in Corpus Christi. The property features one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth and Stephanie Hernandez of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.

January 30, 2023

Industrial Leasing Activity Texas

SUNRGY Solar Distribution Signs 47,332 SF Industrial Lease in Missouri City, Texas

by Taylor Williams January 30, 2023

MISSOURI CITY, TEXAS — SUNRGY Solar Distribution has signed a 47,332-square-foot industrial lease in the southwestern Houston suburb of Missouri City. A.J. Williams and Travis Land of Partners, the locally based investment and brokerage firm formerly known as NAI Partners, represented the tenant in the lease negotiations. Beau Kaleel and Brooke Swerdlow with Cushman & Wakefield represented the landlord, Logistics Property Co.

January 30, 2023

Acquisitions Multifamily Texas

37th Parallel Properties Acquires 291-Unit Apartment Community in Metro Houston

by Taylor Williams January 27, 2023

KATY, TEXAS — Virginia-based investment firm 37th Parallel Properties has acquired Grand Reserve, a 291-unit apartment community located in the western Houston suburb of Katy. The property offers one-, two- and three-bedroom units with an average size of 933 square feet. Amenities include a pool, fitness center, business center, clubhouse, coffee bar, package lockers and a dog park. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

January 27, 2023

Acquisitions Multifamily Texas

NexPoint Residential Sells 290-Unit Hollister Place Apartments in Northwest Houston

by Taylor Williams January 27, 2023

HOUSTON — Dallas-based REIT NexPoint Residential Trust Inc. (NYSE: NXRT) has sold Hollister Place, a 260-unit apartment community in northwest Houston that was built in 1997. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, lounge and onsite laundry facilities. NexPoint acquired Hollister Place, which was 93 percent occupied at the time of sale, in 2017 and implemented a value-add program. The buyer was not disclosed.

January 27, 2023

Development Industrial Texas

ALTO Real Estate to Develop 271,339 SF Industrial Project in Metro Dallas

by Taylor Williams January 27, 2023

WILMER, TEXAS — ALTO Real Estate Investments, a developer with three offices in the United States and one in Israel, will build a 271,339-square-foot industrial project in the southern Dallas suburb of Wilmer. The development, named ALTO Intermodal 45, will be located less than a mile from I-45 and the Union Pacific Intermodal railway and will feature 40-foot clear heights. Construction is scheduled to begin during the first quarter and to be complete by the end of the year. Colliers will market the development for lease.

January 27, 2023

Acquisitions Multifamily Northmarq Texas

Northmarq Arranges Sale of 240-Unit Multifamily Property in Corpus Christi

by Taylor Williams January 27, 2023

CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of The Avertine Apartments, a 240-unit multifamily property in Corpus Christi. The property features one-, two- and three-bedroom units and amenities such as a pool, playground and onsite laundry facilities. Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth and Stephanie Hernandez of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.

January 27, 2023

Development Healthcare Texas

Wolf Capital Partners Begins Renovation of 120,000 SF Medical Office Building in Houston

by Taylor Williams January 27, 2023

HOUSTON — Locally based investment firm Wolf Capital Partners has begun the renovation of Heights Medical Tower, a 120,000-square-foot medical office building located across the street from The Heights Hospital in Houston. Capital improvements include demolition of vacant structures, construction of a new spec suite and upgrades to the building’s HVAC systems. In addition, Wolf Capital, which has tapped Transwestern to lease the building, will reimagine the lobby and enhance the streetscape. Lastly, the firm will revamp various common areas, as well as restrooms and elevator cabs. Completion is slated for the fourth quarter.

January 27, 2023

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