HOUSTON — A partnership between an affiliate of developer Atlantic | Pacific Cos. and The Harris County Housing Authority has completed Arbor at Wayforest, a 192-unit affordable housing complex located in Houston’s Greenspoint neighborhood. Residences are reserved for renters earning up to 30, 50 and 60 percent of the area median income. According to Apartments.com, the property features two- and three-bedroom units that range in size from 926 to 1,103 square feet and amenities such as a pool, fitness center, business center and a playground.
PRINCETON, TEXAS — HLC Equity, a Pittsburgh-based investment and management firm, has refinanced Southgate Apartments, a 156-unit multifamily complex located northeast of Dallas in Princeton. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center and a resident clubhouse. Berkadia originated the long-term, Fannie Mae loan, the amount of which was not disclosed.
THE COLONY, TEXAS — ELM Cos., a provider of energy storage and infrastructure solutions, will open a new 125,000-square-foot headquarters and manufacturing facility in The Colony, a northern suburb of Dallas. The company is expanding its microgrid and solar operations from a 25,000-square-foot space in nearby Lewisville, a move that is expected to add about 65 new jobs to the local economy. Construction of the facility is underway, and ELM Cos. plans to take occupancy before the end of the year.
TULSA, OKLA. — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Broadmoor Retirement Community, a 124-unit independent living facility in Tulsa. Built in 1986, the age-restricted property features studio, one- and two-bedroom units with an average size of 510 square feet. Casey Litsey and C.J. Swanson of TMG represented the seller, and Paul Yazbeck of TMG procured the buyer. Both parties requested anonymity.
RICHARDSON, TEXAS — Lee & Associates has negotiated an 8,264-square-foot office lease in the northeastern Dallas suburb of Richardson. The tenant, Property HOA Management, will occupy space at Two Mission Park, a building that was originally constructed in 1982 and totals 77,449 square feet, according to LoopNet Inc. Jessica Reinhardt and George Tanghongs of Lee & Associates represented the landlord, an entity doing business as Dallas North Office LLC, in the lease negotiations.
DALLAS — Northmarq has arranged the sale of Grand Seasons Apartment Homes, a 144-unit multifamily complex in North Dallas. The property was built in 1978 and offers one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining areas and a dog park. Taylor Snoddy, Charles Hubbard and Eric Stockley of Northmarq brokered the deal. The buyer and seller were not disclosed. The new ownership plans to implement a value-add program.
HOUSTON — Locally based developer NewQuest Properties is underway on the redevelopment of Pavilion Square, a 90,000-square-foot retail center in Houston. NewQuest is rebranding Pavilion Center as West on West. Asian grocer 99 Ranch Market will anchor the center. Other tenants will include Gen Korean BBQ House and Teso Life, which will occupy 6,212 square feet and 13,340 square feet, respectively. Exterior renovations are scheduled for completion this month.
TOMBALL, TEXAS — Colliers has negotiated the sale of a 10-acre commercial development site located at 15530 Treichel Road in the northern Houston suburb of Tomball. Tom Condon Jr. and John Grimsley of Colliers represented the seller, an undisclosed private investor, in the transaction. Chris Weisinger and Ryan Knape of One Rock represented the buyers, Max & Beverly Welch, who plan to expand their existing garden center and nursery at the site.
PLANO, TEXAS — Midland Tower Construction has signed a 7,193-square-foot office lease at Placid Business Center in Plano. Jared Laake and Brian Paffford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Placid LLC, in the lease negotiations. Jack Kemendo and Cameron Rogers of Rubicon Representation represented the tenant.
FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 2,348-square-foot office lease at Mallick Tower in downtown Fort Worth. The 90,000-square-foot building was originally constructed in 1968. Vic Meyer, Jake Neal and Matt Carthey with Holt Lunsford Commercial represented the undisclosed landlord in the lease negotiations. Alex Hrapkiewicz of JLL represented the tenant, Stannum Capital.