REBusinessOnline

Aspen Heights to Develop 219-Unit Single-Family Rental Community in Metro Austin

HUTTO, TEXAS — Locally based owner-operator Aspen Heights Partners has acquired 36 acres in the northern Austin suburb of Hutto for the development of Bell Yard, a 219-unit single-family rental (SFR) community. The property will offer two-, three-, and four-bedroom homes with attached garages, modern interiors and designer finishes, as well as an assortment of resort-style amenities. Construction is scheduled to begin in May of next year and to be complete in late

FCP, VaultCap Buy 100-Unit Multifamily Property in Grand Prairie, Texas

GRAND PRAIRIE, TEXAS — A partnership between Maryland-based investment firm FCP and VaultCap Partners has purchased Prairie Ridge Apartments, a 100-unit multifamily property located in the central metroplex city of Grand Prairie. Prairie Ridge offers one- and two-bedroom floor plans and amenities such as a playground and onsite laundry facilities. The partnership will merge the property with the adjacent Corey Place Apartments, which it acquired this summer, and operate the combined …

Taking its Toll: How the Pandemic Is Shifting Activity Along the Dallas North Tollway

By Greg Langston, principal, managing director, Avison Young The Dallas North Tollway (DNT) is a staple thoroughfare for Dallas Fort-Worth (DFW), connecting the metroplex’s urban core in Dallas to the thriving northern suburbs.  Over the past 12 years, since the recovery from the Great Recession began, much of the market’s activity and energy has occurred along this tollway. Weighing the performance of assets in submarkets that connect to the DNT versus those that don’t, those in …

InterFace Panel: Supply Chain Issues Continue to Challenge Multifamily Developers

By Taylor WilliamsFacing extended construction timelines and elevated costs of materials due to COVID-19’s disruption of global, national and local supply chains, multifamily developers are being forced to pivot, improvise and forge new relationships with suppliers in order to manage overall risk levels within their projects.Even before the pandemic, real estate developers and users across all asset classes understood how crucial competent supply chain management was to their budgets. …

Crescent Real Estate Breaks Ground on $250M Mixed-Use Project in Fort Worth

FORT WORTH, TEXAS — Locally based developer Crescent Real Estate has broken ground on a new mixed-use project in Fort Worth’s Cultural District that is valued at $250 million, according to The Dallas Morning News. Current plans for the project, which was announced in February, call for 175 residential units, a 200-room boutique hotel and a 160,000-square-foot office building that will house the headquarters of tenants such as Goff Capital, Canyon Ranch and Contango Oil & Gas. Crescent …

Century Pacific, Valor Club USA Opens 200-Acre Campus in San Antonio

SAN ANTONIO — Valor Club USA, an organization dedicated to helping veterans and servicemen and women transition from military to civilian life, has opened an office in San Antonio. The group’s president, Michael McDowell, is overseeing construction of a 200-acre campus with recreational facilities, residential units, a hotel and commercial and retail space. In addition, the development features veteran support services and an entertainment district anchored by an indoor/outdoor performance …

CBRE Negotiates Sale of 387,838 SF Harris Ridge Business Center in North Austin

AUSTIN, TEXAS — CBRE has negotiated the sale of Harris Ridge Business Center, a 387,838-square-foot industrial park in North Austin. Harris Ridge consists of five buildings that were constructed in phases between 2008 and 2021. The park was fully leased at the time of sale to a roster of 11 tenants with an average suite size of 32,392 square feet. Boston-based TA Realty purchased the property from Austin-based HPI Real Estate Services for an undisclosed price. Randy Baird, Jonathan Bryan, …

Nicholas Residential, Hughes Capital Buy 473-Unit Apartment Community in Dallas

DALLAS — A fund backed by Dallas-based Nicholas Residential and Hughes Capital Partners have purchased Bellevue at The Bluffs, a 473-unit apartment community located in the Bluffview neighborhood of Dallas. Built in 2019 and formerly known as Aura Bluffview, the property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, resident clubhouse, business center and a lounge. The seller was not

Livingston Street Capital Acquires 402-Unit Active Adult Portfolio in North Texas

FORT WORTH AND DENTON, TEXAS — An affiliate of Livingston Street Capital has acquired a portfolio of two active adult communities totaling 402 units in North Texas. The properties include a 162-unit community in Fort Worth, which the firm has rebranded as The Spring at Silverton, and a 240-unit community in Denton, which the firm has rebranded as Sunstone Village. These assets bring Livingston’s active adult and independent living portfolio to nearly 600 units in the Dallas-Fort Worth …

Joint Venture Acquires Three Hotels in The Woodlands from Howard Hughes Corp. for $252M

THE WOODLANDS, TEXAS — A joint venture led by Los Angeles-based investment firm Lowe has acquired three hotels in The Woodlands, located about 30 miles north of Houston, from The Howard Hughes Corp. (NYSE: HHC) for $252 million. The properties include The Woodlands Resort, a 402-room hotel that was built in 1972; Embassy Suites by Hilton, The Woodlands at Hughes Landing, a 205-room asset that was constructed in 2015; and The Westin at The Woodlands, a 302-room property that was completed in …

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