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Azul-Apartments-Dallas
LoansMultifamilyTexas

Lightstone Capital Provides $28.5M Loan for Refinancing of Dallas Apartment Community

by Taylor Williams

DALLAS — New York City-based Lightstone Capital has provided a $28.5 million loan for the refinancing of The Azul Apartments, a 362-unit multifamily community located in the Lake Highlands area of Dallas. Built on 9.3 acres in 1983, the property comprises 324 one-bedroom units and 34 two-bedroom units across 20 three-story buildings. About 35 percent (130) of the units have been recently renovated. Amenities include multiple pools, a business center, clubhouse and a dog park. Thomas Wayda, Dan Sacks and Harrison Drucker of Greystone arranged the loan. The borrower was an entity doing business as Azul Multifamily DE LLC.

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AcquisitionsMultifamilyStudent HousingTexas

Newsome Development Sells 134-Bed Student Housing Property Near Baylor University

by Taylor Williams

WACO, TEXAS — Newsome Development & Investments has sold 11th Street Flats, a 134-bed student housing property located near Baylor University in Waco. The community was constructed in 2015 and offers 45 units in a mix of two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, study lounge and deck with campus views. Teddy Leatherman, Stewart Hayes and Scott Clifton of JLL represented the seller in the disposition of the property to Waterway Family Funds.

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AcquisitionsIndustrialTexas

Fort Capital Acquires 76,200 SF Industrial Portfolio in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Fort Worth-based investment firm Fort Capital has acquired a portfolio of seven industrial buildings totaling 76,200 square feet in Arlington. The Class B, multi-tenant buildings offer proximity to major thoroughfares such as Interstates 20 and 30, as well as Loop 820. The portfolio had an occupancy rate of 94 percent at the time of sale. The seller and sales price were not disclosed.

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AcquisitionsMultifamilyTexas

Partners Arranges Sale of 64-Unit Williamsburg Apartments in Killeen, Texas

by Taylor Williams

KILLEEN, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of Williamsburg Apartments, a 64-unit multifamily complex located in the Central Texas city of Killeen. According to Apartments.com, the property was built in 1977 and offers one-bedroom units. Jason Chtay of Partners represented the seller, an entity doing business as AJH Williamsburg Ltd., in the transaction. The name and representative of the buyer were not disclosed.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 531-Unit Self-Storage Portfolio in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a portfolio of two facilities totaling 531 units in Fort Worth. The portfolio spans 89,300 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, an entity doing business as Plano Storage Station LP, in the transaction. The team also procured the buyer, an Austin-based family partnership.

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Montierra-Apartments-Houston
AcquisitionsMultifamilyTexas

Bascom Group, Cadre Acquire 346-Unit Montierra Apartments in Houston

by Taylor Williams

HOUSTON — A partnership between Southern California-based investment firm Bascom Group and New York-based investment manager Cadre has acquired The Montierra, a 346-unit apartment community in Houston’s Uptown/Galleria area. Sueba USA developed the property in 2003. According to Apartments.com, units come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, clubhouse, lounge, movie theater, business center and outdoor grilling stations. Dustin Selzer of JLL represented the seller in the transaction. Brandon Smith, Annie Rice and Jamie Kline, also with JLL, arranged acquisition financing through California Bank & Trust. The new ownership plans to implement a value-add program.

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DevelopmentIndustrialTexas

Brennan Investment Group to Develop 216,004 SF Industrial Facility in South Houston

by Taylor Williams

HOUSTON — Chicago-based Brennan Investment Group has acquired 12 acres at the intersection of Kirby Drive and North Spectrum Boulevard in South Houston for the development of a 216,004-square-foot industrial facility. The rear-load building will feature 36-foot clear heights, 175-foot truck court depths and an ESFR sprinkler system. Construction is scheduled to begin in early January and to be complete by the fourth quarter of 2023.

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Premier-at-Prestonwood-Dallas
AcquisitionsMultifamilyTexas

Westmount Realty Capital Buys 208-Unit Multifamily Property in North Dallas

by Taylor Williams

DALLAS — Locally based investment firm Westmount Realty Capital has purchased Premier at Prestonwood, a 208-unit multifamily property in North Dallas. Built in 1995, the property offers one- and two-bedroom units with an average size of 1,027 square feet, as well as a pool, fitness center and a clubhouse. Westmount plans to upgrade the building exteriors and the interiors of select units while also enhancing the amenity package with the addition of a dog park and package lockers. The seller was not disclosed.

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Leasing ActivityOfficeTexas

McGuireWoods Signs 33,345 SF Office Lease in Uptown Dallas

by Taylor Williams

DALLAS — Law firm McGuireWoods has signed a 33,345-square-foot office lease at The Link at Uptown in Dallas. The firm will occupy the entire 22nd floor and part of the 21st floor of the 25-story building, which is now 96 percent leased. Blake Shipley of JLL, in conjunction with Sarah Kennington and Bryce Jackson of Thirty-Four Commercial, represented the landlord, Kaizen Development Partners, in the lease negotiations. Stephen Hemphill, Cory Darden and Steve Macnoll of Mohr Partners represented McGuireWoods.

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AcquisitionsIndustrialTexas

Cushman & Wakefield Arranges Sale of 759,889 SF Industrial Portfolio in Dallas-Fort Worth

by Taylor Williams

DALLAS — Cushman & Wakefield has arranged the sale of a portfolio of seven industrial buildings totaling approximately 759,889 square feet in Dallas-Fort Worth. The properties are scattered throughout the metroplex in municipalities including Richardson, Lewisville, Irving, Farmers Branch, Coppell and Arlington. Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. New Jersey-based investment firm Faropoint acquired the portfolio, which was fully leased at the time of sale, for an undisclosed price.

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