FORT WORTH, TEXAS — Carolina Beverage Group, which provides manufacturing, packaging and distribution services for the beverage industry, has signed a 493,920-square-foot industrial lease expansion at AllianceTexas in North Fort Worth. The tenant has occupied space at AllianceTexas for nearly a decade and now has a total footprint of 695,124 square feet. Carolina Beverage Group’s new space features 36-foot clear heights, 135-foot truck court depths and ample trailer parking.
HOUSTON —Florida-based investment firm Stoneweg US has acquired Ashford, a 312-unit apartment community in Houston’s Energy Corridor. According to Apartments.com, the property was built in 2017 and features studio, one- and two-bedroom units that range in size from 553 to 1,326 square feet. Amenities include a pool, fitness center, outdoor grilling and dining stations and a dog park. The seller and sales price were not disclosed. Stoneweg US has tapped RPM Living to manage the property and oversee a value-add program.
EL PASO, TEXAS — Greysteel has brokered the sale of Athens Gate, a 233-unit apartment complex in El Paso. The property offers one- and two-bedroom units that range in size from 404 to 746 square feet. According to Apartments.com, amenities include a pool, playground, volleyball court and outdoor grilling stations. Jack Stone of Greysteel represented the seller, a locally based developer, in the transaction. The buyer and sales price were not disclosed.
DESOTO, TEXAS — JLL has negotiated the sale of Methodist Transitional Care Center, along-term care facility in the southern Dallas suburb of DeSoto. The 100-bed property was built in 2020 and encompasses 66 units. Charles Bissell and Evan Kovac of JLL represented the seller and developer, Madison Marquette, in the transaction. Illinois-based LFI Real Estate purchased the asset for an undisclosed price.
DALLAS — Locally based investment firm S2 Capital has acquired a portfolio of 14 multifamily properties totaling 4,455 units that are located in various cities throughout the Dallas-Fort Worth (DFW) metroplex as well as in Houston. The DFW component of the portfolio totals 3,399 units, and the Houston portion comprises 1,056 units. All properties were built between 1979 and 1987. Mark Brandenburg, Lauren Dow and Michael Cosby of JLL, along with Lauren Bresky and Loren Heikenfeld of Northmarq, arranged debt financing for the transaction. Roberto Casas, Rob Key, Matthew Lawton and Dustin Selzer with JLL, as well as Taylor Snoddy with Northmarq, brokered the sale. The seller was not disclosed. S2 Capital plans to extensively renovate and enhance the unit interiors, building exteriors and amenity spaces at all of the properties.
HOUSTON — Liberty Development Partners, a joint venture between locally based firms Connor Investment Real Estate and Logistics & Development Resources, has purchased Gulf Inland Logistics Park, a 1,158-acre industrial development site in Houston. The shovel-ready site is located at the intersection of the Grand Parkway and U.S. Highway 90 on the city’s east side. Liberty Development Partners also acquired CMC Railroad, a freight provider and service network within Gulf Inland Logistics Park that connects to the BNSF Railway and the Union Pacific Railroad. Prior to this deal, the joint venture acquired a 200-acre adjacent parcel to allow for expansion of the site. Construction plans and timelines for the existing Gulf Inland Logistics Park site and the adjacent tract have not yet been finalized. Trez Capital provided $66.5 million in acquisition financing for the joint venture’s purchase of CMC Railroad and an undisclosed portion of the land that will house the first phase of industrial development.
COLLEGE STATION, TEXAS — Student housing developer Parallel has broken ground on a 750-bed project located at 401 First St. near the Texas A&M University campus in College Station. The community will offer a mix of studio, one- and two-bedroom units, as well as walk-up townhomes. Shared amenities will include a full-service smart market, influencer room, gaming lounge, dog park, pool, spa, yoga room, fitness center, indoor study areas and outdoor gaming stations. The project is scheduled for completion in fall 2024. The development team includes BOKA Partners, Rogers O‘Brien Construction, Alison Royal Interiors, RLG Engineers, Mitchell & Morgan Civil Engineering, V3 Engineers, Infinisys and SMR Landscape.
KATY, TEXAS — Locally based developer Sueba USA has opened San Tierra, a 303-unit apartment community located in the western Houston suburb of Katy. San Tierra offers one-, two- and three-bedroom units that range in size from 480 to 2,087 square feet. Residences are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies/patios. The amenity package consists of multiple pools, a spa, outdoor cabanas with grilling areas, a 24-hour fitness center and a coffee bar. Rents start at $1,150 per month.
AUSTIN, TEXAS — Berkadia has arranged a $52 million bridge loan for the refinancing of Iron Rock Ranch, a 300-unit multifamily property in Austin. Iron Rock Ranch consists of 84 townhomes and 216 apartments in one-, two- and three-bedroom formats. Amenities include two pools with outdoor lounging areas, a fitness center, pet park and a basketball court. Andy Hill and Tyler Nowlin of Berkadia arranged the four-year, nonrecourse loan through J.P. Morgan Asset Management on behalf of the borrower, Houston-based Domain Communities, which purchased the asset in late 2019.
FORT WORTH, TEXAS — Texas-based developer Presidium has begun leasing Presidium Berkshire, a 340-unit multifamily development located on the north side of Fort Worth. The 352,000-square-foot community is expected to be fully complete early next year. Units will feature stainless steel appliances, quartz-style countertops, private balconies/terraces, individual washers and dryers and built-in desks. Amenities will include a pool with splash pads, outdoor dining and grilling areas, a two-story fitness center with a yoga studio, a speakeasy-style bar, demonstration kitchen, coworking lounge and a dog park. Dallas-based O’Brien Architects designed Presidium Berkshire. Rents start at $1,480 per month for a studio apartment.
