Texas

RightQuest Residential Breaks Ground on 264-Unit Paloma San Antonio Apartments

by Taylor Williams August 16, 2022

SAN ANTONIO — Dallas-based RightQuest Residential has broken ground on Paloma San Antonio, a 264-unit multifamily project that will be located on a 13-acre site on The Alamo City’s east side. Units will come in one- and two-bedroom formats, and amenities will include a pool, fitness center, business center, outdoor grilling stations, package lockers and a dog park. Cross Architects designed the project, and Houston-based Nations Construction is serving as the general contractor. Veritex Community Bank provided construction financing. The first units will be available for occupancy in fall 2023.

August 16, 2022

Acquisitions Multifamily Seniors Housing Texas

Blueprint Arranges Sale of Four Skilled Nursing Facilities in Texas for $28M

by Taylor Williams August 16, 2022

WACO, HOUSTON AND FORT WORTH, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of four skilled nursing facilities totaling 704 licensed beds in Waco, Houston and Fort Worth. A national owner acquired the properties for $28 million and plans to lease the facilities out to multiple operators. Blueprint marketed the properties, which were all built in the 1960s, on behalf of a court-appointed receiver.

August 16, 2022

Development Office Texas

McLaren Automotive Opens 31,000 SF Office, Showroom in Coppell, Texas

by Taylor Williams August 16, 2022

COPPELL, TEXAS — McLaren Automotive has opened a 31,000-square-foot office and showroom at 1405 S. Belt Line Road in the central metroplex city of Coppell. The space will house the North American operations of McLaren’s sports car division, which the British luxury auto manufacturer has relocated from New York. Dallas-based Merriman Anderson Architects designed the space, which also features a training center and workshop.

August 16, 2022

Acquisitions Multifamily Northmarq Texas

Northmarq Brokers Sale of 28-Unit Judson Meadows Apartments in San Antonio

by Taylor Williams August 16, 2022

SAN ANTONIO — Northmarq has brokered the sale of Judson Meadows, a 28-unit apartment complex in San Antonio. The property was built in 2007 and offers a playground, dog park and outdoor picnic areas. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.

August 16, 2022

Content Partner Features Leasing Activity Loans Midwest Multifamily Northeast Southeast Texas Walker & Dunlop Western

How to Maintain Multifamily Investment Momentum in the Face of Rising Interest Rates

by Sarah Daniels August 16, 2022

By Melissa Jahnke, associate director of operations, Walker & Dunlop The Federal Reserve raised interest rates by 75 basis points in June and then another 75 basis points in July, sending shockwaves across the commercial real estate industry. Fortunately, there are opportunities and solutions to bypass these potential roadblocks. Specifically, investors in a segment of multifamily housing known as small balance lending (SBL), encompassing five- to 150-unit properties, have several options to realize their aspirations for financing multifamily portfolios. View a higher resolution version of the timeline above here. During a recent webcast “Financing Amid Rising Rates: Best Approaches for $1M-$15M Multifamily Loans,” Walker & Dunlop’s market experts spoke about navigating today’s financing landscape. The expert panel included Allison Williams, senior vice president and chief production officer; Allison Herrera, senior director of SBL; and Tim Cotter, director of capital markets. These experienced professionals have found ways to make deals happen in a wide variety of financing environments and have shared their perspectives and guidance. If you are an owner of five- to 150-unit properties that require loans between $1 million to $15 million, the following will help you navigate today’s financial environment and build your momentum. Step 1: Consider the …

August 16, 2022

Acquisitions Multifamily Texas

Waterton Acquires 434-Unit Mission Gate Apartments in Plano

by Taylor Williams August 15, 2022

PLANO, TEXAS — Chicago-based investment firm Waterton has acquired Mission Gate, a 434-unit apartment community in Plano. Built on 24 acres in 1999, Mission Gate features one-, two- and three-bedroom units with an average size of 965 square feet across 13 buildings. Amenities include a pool, outdoor grilling stations, a playground and a dog park. Waterton plans to invest in capital improvements to unit interiors and common areas. The seller and sales price were not disclosed.

August 15, 2022

Loans Multifamily Northmarq Texas

Northmarq Arranges $43.7M in Acquisition Financing for Five Austin Multifamily Properties

by Taylor Williams August 15, 2022

AUSTIN, TEXAS — Northmarq has arranged three bridge loans totaling $43.7 million for the acquisition of five multifamily properties in Austin. The properties include Mueller I and II, which feature a combined 110 units and are located in the Windsor Park area; Villas at Mueller, a 124-unit community; the 40-unit Spanish Trails Apartments; and the 51-unit Miller Square Apartments. Chase Johnson and Brian Fisher of Northmarq originated the financing on behalf of the borrower, Zion Capital. The direct lenders were not disclosed.

August 15, 2022

Development Hospitality Oklahoma Texas

Lambert Nears Completion of 92-Room NOUN Hotel in Norman, Oklahoma

by Taylor Williams August 15, 2022

NORMAN, OKLA. — Hospitality development and management firm Lambert is nearing completion of the NOUN Hotel, a 92-room boutique hotel located near the University of Oklahoma’s campus in Norman. The grand opening is scheduled for Thursday, Sept. 22. The four-story hotel, which will include two suites, will offer multiple food and beverage establishments and 3,900 square feet of meeting and event space.

August 15, 2022

Industrial Leasing Activity Lee & Associates Texas

Bassett Furniture Signs 39,582 SF Industrial Lease in Arlington

by Taylor Williams August 15, 2022

ARLINGTON, TEXAS — Bassett Furniture, a Virginia-based manufacturer and retailer, has signed a 38,582-square-foot industrial lease at 1019 Enterprise Place in Arlington. Mark Graybill of Lee & Associates represented the landlord, High Street Logistics Properties, in the lease negotiations. Reed Parker, also with Lee & Associates, represented the tenant.

August 15, 2022

Acquisitions Retail Texas

Independence Commercial Advisors Negotiates Sale of 37,500 SF Retail Center in Lubbock

by Taylor Williams August 15, 2022

LUBBOCK, TEXAS — Texas-based brokerage firm Independence Commercial Advisors has negotiated the sale of Poka Lambro Shopping Center, a 37,500-square-foot retail property in Lubbock. Built on 4.9 acres in 1983, the property includes outparcels that house a Wells Fargo ATM and a recently renovated Burger King. Richard Mireles of Independence Commercial Advisors represented the undisclosed seller and procured the buyer, Texas-based NetCo Investments Inc., in the transaction.

August 15, 2022

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