Texas

Kalterra Capital Underway on 249-Unit Multifamily Project in San Marcos, Texas

by Taylor Williams June 22, 2022

SAN MARCOS, TEXAS — Kalterra Capital Partners is underway on construction of The Dylan, a 249-unit apartment community in the Central Texas city of San Marcos. The site is adjacent to McCarty Commons, which the Dallas-based developer sold in 2021. Units will come in one-, two- and three-bedroom floor plans and will be furnished with granite countertops, stainless steel appliances and private patios/balconies. Residences will range in size from 675 to 1,415 square feet. Amenities will include a pool, fitness center, volleyball court and open green space. Kalterra expects to deliver the property in the second quarter of 2023.

June 22, 2022

Build-to-Rent Development Single-Family Rental Texas

Coastal Ridge, Halstatt to Develop 225-Unit Build-to-Rent Community in Metro Austin

by Taylor Williams June 22, 2022

ROUND ROCK, TEXAS — Ohio-based Coastal Ridge Real Estate, in a joint venture with Halstatt Real Estate Partners, will develop a 225-unit build-to-rent residential community in the northern Austin suburb of Round Rock. The site spans 20 acres within the 1,200-acre Avery Centre mixed-use development. The development will feature one-, two- and three-bedroom homes, and amenities will include a pool, resident clubhouse, walking trails, outdoor seating areas and a fitness center. Coastal Ridge will operate the community under its Stillwell brand. A formal groundbreaking ceremony will take place on Tuesday, July 19.

June 22, 2022

Development Multifamily Seniors Housing Texas

JPI Breaks Ground on 185-Unit Independent Living Community in Anna, Texas

by Taylor Williams June 22, 2022

ANNA, TEXAS — Locally based developer JPI, in partnership with the City of Anna, has broken ground on Parmore Anna Senior Living, a luxury independent living community located approximately 50 miles north of Dallas. The property will be the first of its kind in Anna and JPI’s second installment in its new line of senior housing developments. The Anna Housing Finance Corp. is also a partner on the project. The 150,000-square-foot community will span over nine acres and include 185 apartments. Completion is scheduled for 2023.

June 22, 2022

Acquisitions Industrial Texas

Lee & Associates Brokers Sale-Leaseback of 165,000 SF Industrial Building in Coppell, Texas

by Taylor Williams June 22, 2022

COPPELL, TEXAS — Lee & Associates has brokered the sale-leaseback of a 165,000-square-foot industrial building located at 585 S. Royal Lane in northern central metroplex city of Coppell. Alex Wilson and Nathan Denton of Lee & Associates represented the buyer, Nuveen Real Estate, in the off-market transaction. The seller and tenant was Dexas International, a local manufacturer of kitchen tools and specialty gadgets.

June 22, 2022

Acquisitions Office Texas

Newmark Negotiates Sale of 156,104 SF One Mockingbird Plaza Office Building in Dallas

by Taylor Williams June 22, 2022

DALLAS — Newmark has negotiated the sale of One Mockingbird Plaza, a 156,104-square-foot office building located near Dallas Love Field Airport. Chris Murphy, Gary Carr, Robert Hill and Chase Tagen of Newmark represented the seller, TXRE Properties, in the transaction. The buyer and additional terms of sale were not disclosed. The newly renovated One Mockingbird Plaza was 94 percent leased at the time of sale.

June 22, 2022

Acquisitions Multifamily Texas Top Stories

SWBC Real Estate Sells Five-Property Multifamily Portfolio in Texas for $350M

by Kristin Harlow June 22, 2022

TEXAS — SWBC Real Estate LLC has sold a five-property multifamily portfolio totaling 1,437 units in Texas for $350 million. The communities include: The Royalton at Grand Prairie in Grand Prairie; Central Park at Craig Ranch and The Royalton at Craig Ranch in McKinney; The Royalton at Rockwall Downes in Rockwall; and The Royalton at Sunfield in Buda. Lightbulb Capital Group, the family office of developer and investor Jay Schuminsky, acquired the properties in the Dallas-Fort Worth metroplex, including those in Grand Prairie, McKinney and Rockwall. Brixton Capital purchased the community in Buda, which is a southern suburb of Austin. Both buyers are based in California. “It’s apparent that there is still a very aggressive appetite for new multifamily properties in the Dallas and Austin markets, as there was a large amount of interest in the sale of these properties,” says Stuart Smith, COO of SWBC. “The recent uptick in interest rates is causing some concern with the future values of commercial real estate properties. However, the continued interest in the multifamily sector in well-located areas throughout Texas has remained strong at this time.” Joey Tumminello, Will Balthrope and Drew Kile of Marcus & Millichap’s Institutional Property Advisors led the …

June 22, 2022

Development Multifamily Texas

OHT Partners Breaks Ground on 750-Unit Multifamily Development in South Austin

by Taylor Williams June 21, 2022

AUSTIN, TEXAS — Locally based developer OHT Partners has broken ground on Phase I of a 750-unit multifamily development in South Austin. The first phase of the development, which will be branded Lenox Woods, will total 402 units and is scheduled for a late 2023 completion. The second phase, which will comprise 348 units in a yet-to-be-named community, is slated to be delivered in 2024. The site spans 37 acres and includes a 7.5-acre parcel that will function as parkland. Lenox Woods will feature one- and two-bedroom units and amenities such as two pools, a fitness center, dog park, pickleball courts and a business center. Meeks + Partners is designing the community.

June 21, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 408-Unit Apartment Community in Northeast San Antonio

by Taylor Williams June 21, 2022

SAN ANTONIO — Newmark has brokered the sale of ReNew at TPC, a 408-unit apartment community in northeast San Antonio. The property features a mix of studio, one-, two-, three- and four-bedroom units with an average size of 905 square feet. Units are furnished with hardwood-style flooring, stainless steel appliances, granite countertops and walk-in closets. Amenities include a pool, grilling areas, a resident lounge, business center, fitness center and a dog park. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the seller, San Francisco-based FPA Multifamily, in the transaction. California-based DB Capital Management purchased the property for an undisclosed price with plans to implement a value-add program.

June 21, 2022

Acquisitions Multifamily Texas

Camino Verde Group, Bakerson Buy 152-Unit Multifamily Property in Fort Worth

by Taylor Williams June 21, 2022

FORT WORTH, TEXAS — A joint venture between Las Vegas-based investment firm Camino Verde Group and Arizona-based Bakerson has purchased Antigua Village, a 152-unit multifamily property located about six miles east of downtown Fort Worth. Built in 1968, the complex comprises 10 two-story buildings on a 7.3-acre site. Units come in one-, two- and three-bedroom floor plans, and amenities include a business center and a playground. The new ownership plans to make capital improvements and to rebrand the property as Apex Apartments. Global Real Estate Investors (GREA) brokered the sale.

June 21, 2022

Industrial Leasing Activity Texas

Johnson Controls to Open 123,000 SF Industrial Facility in Weslaco, Texas

by Taylor Williams June 21, 2022

WESLACO, TEXAS — Johnson Controls, a manufacturer and distributor of building products and equipment, will open a 123,000-square-foot industrial facility in the Rio Grande Valley city of Weslaco. The facility, which is scheduled to open late in the fourth quarter, sits on a 2.3-acre site and includes assembly, distribution and office space. The move is expected to add about 100 new jobs to the local economy. The company’s initial investment in Weslaco is approximately $5.5 million.

June 21, 2022

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