HOUSTON — Atlanta-based multifamily investment firm Cortland has acquired Wynnewood at Wortham, a 444-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1998 and features one-, two- and three-bedroom floor plans that range in size from 719 to 1,254 square feet. Amenities include a clubhouse, leasing center, fitness and business center, two pools, two dog parks, a car wash station and multiple grills. The new ownership plans to implement a capital improvement program and to rebrand the property as Cortland Wortham. The seller and sales price were not disclosed.
AUSTIN, TEXAS — Newmark has brokered the sale of Nichols Park, a 200-unit apartment complex in southwest Austin. Built in 1985, Nichols Park offers one- and two-bedroom units with an average size of 670 square feet. Amenities include a pool, basketball court, dog park, outdoor grilling stations and a community lounge and coffee bar. Jim Young, Patton Jones, Andrew Dickson and Matt Michelson of Newmark represented the seller, Austin-based Thrive FP, in the transaction. Mesa West Capital provided a $23.4 million acquisition loan to the buyer, Los Angeles-based investment firm DreamField Capital. Nichols Park was 96 percent occupied at closing.
ROUND ROCK, TEXAS — General contractor Brasfield & Gorrie has topped out a 152,000-square-foot healthcare project in the northern Austin suburb of Round Rock. The building is known as Ascension Seton Williamson and is part of a larger campus of healthcare provider and seniors housing operator Ascension. A tentative completion date was not disclosed. In addition to construction of Ascension Seton Williamson, some 100,000 square feet of renovations and expansions are underway across the surgery and emergency departments and medical office building on the campus.
ADDISON, TEXAS — SRS Real Estate Partners has arranged the $5.6 million sale of a 5,672-square-foot restaurant building in the northern Dallas metro of Addison. The tenant, Florida-based breakfast eatery First Watch, recently committed to a 12-year term at the property via a corporate-guaranteed lease. Matthew Mousavi and Patrick Luther of SRS represented the seller, Dallas-based real estate private equity firm 90Ten, in the transaction. The buyer, a New Mexico-based private investor, acquired the asset via a 1031 exchange. The sales price equates to a cap rate of 5.5 percent.
AUSTIN, TEXAS — HydroGraph USA Inc. has signed a 20,555-square-foot industrial lease in South Austin. The chemicals manufacturer is taking space at the building at 2101 E. St. Elmo Road, which according to LoopNet Inc. was completed in 2021 and totals 52,236 square feet. Eric Sheaffer of Partners Real Estate represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
HOUSTON — JLL has arranged an undisclosed amount of acquisition financing for 3555 Timmons, a 227,064-square-foot office building located in the Greenway Plaza area of Houston. Built in 1982 and renovated in both 2017 and 2024, the building was 95 percent leased at the time of sale, with the Houston-Galveston Area Council serving as the anchor tenant. Michael Johnson, Michael King, Scot Sarlin and James Lovell of JLL arranged the fixed-rate debt through an undisclosed insurance company on behalf of the borrower, DML Capital.
AUSTIN, TEXAS — Pennsylvania-based private equity firm PPR Capital Management has completed The Residences at Rubi, a 101-unit mixed-income housing project in East Austin. The development is valued at $21.7 million. The unit mix will be split evenly between market-rate and affordable units, with the latter component carrying income restrictions between 30 to 70 percent of the area median income. IE2 Construction served as the general contractor for the project, and Avita Property Management is handling lease-up and property management duties.
HEWITT, TEXAS — Matthews Real Estate Investment Services has brokered the sale of Walker Place at Moonlight Park, a 98-unit single-family rental complex in Hewitt, located south of Waco. The property was completed in 2023, and homes feature three- and four-bedroom floor plans with an average size of 2,036 square feet, as well as attached two-car garages and private backyards. Richard Waterhouse and Andrew Kopenec of Matthews represented the seller, a Texas-based developer, in the transaction. The buyer was a Boston-based real estate private equity firm. Both parties requested anonymity.
OKLAHOMA CITY — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 94,089-square-foot warehouse that is adjacent to Will Rogers International Airport in Oklahoma City. Built on 9.3 acres in 2018 via a ground lease with the Oklahoma City Airport Trust and leased to a multinational logistics user, the warehouse features two dock-high doors, 14 drive-in doors, 25 truck parking spaces and 15 trailer parking spaces. The seller and sales price were not disclosed.
HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 31,113-square-foot shopping center located at 10750 Barker Cypress Road in northwest Houston. Known as Lakes of Riata Retail Center, the property is home to tenants such as Domino’s Pizza, Shipley Donuts, Anytime Fitness and The Cupcake Cowgirls. The buyer and seller were not disclosed.