Texas

Berkadia Brokers Sale of 372-Unit Life at Spring Estates Apartments in Houston

by Taylor Williams July 12, 2022

HOUSTON — Berkadia has brokered the sale of The Life at Spring Estates, a 372-unit apartment community in Houston’s North View neighborhood. The Life at Spring Estates features one-, two- and three-bedroom units ranging from 1,017 to 1,332 square feet. Amenities include a pool, fitness center, business center, clubhouse, bark park, picnic areas and parcel lockers. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Todd Marix and Chris Curry of Berkadia represented the seller, New York City-based Olive Tree Holdings, in the transaction. The buyer, Nashville-based Inman Equities, purchased the asset for an undisclosed price.

July 12, 2022

Acquisitions Multifamily Texas

Fogelman Properties Acquires 201-Unit Moorings Apartments in Metro Houston

by Taylor Williams July 12, 2022

LEAGUE CITY, TEXAS — Memphis-based investment firm Fogelman Properties has acquired The Moorings, a 201-unit apartment complex in League City, a southeastern suburb of Houston. The Moorings, which was 95 percent occupied at the time of sale, offers recently upgraded units in one- and two-bedroom floor plans. Amenities include a pool, fitness center, game room, outdoor lounge areas and Amazon package lockers. The seller and sales price were not disclosed.

July 12, 2022

Loans Multifamily Northmarq Oklahoma Texas

Northmarq Arranges $9.2M Acquisition Loan for Multifamily Property in Moore, Oklahoma

by Taylor Williams July 12, 2022

MOORE, OKLA. — Northmarq has arranged a $9.2 million bridge loan for the acquisition of Mansions South Apartments, a 146-unit multifamily property in Moore, a southern suburb of Oklahoma City. Built in 1972, the property comprises 12 two-story buildings that house one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse, volleyball and basketball courts and a playground. Bob Harrington of Northmarq arranged the loan, which features two years of interest-only payments. The borrower and direct lender were not disclosed.

July 12, 2022

Acquisitions Retail Texas

Partners Capital Sells 40,094 SF Royal Montreal Plaza Retail Center in Metro Houston

by Taylor Williams July 12, 2022

KATY, TEXAS — Partners Capital, an affiliate of Partners Real Estate Co., has sold Royal Montreal Plaza, a 40,094-square-foot shopping center located in the western Houston suburb of Katy. Josh Lass-Sughrue and Davis Amanyisye of NAI Partners, the real estate services arm of Partners Real Estate, represented the seller in the transaction. The buyer was not disclosed. Partners Capital originally acquired the asset in August 2018.

July 12, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of 764,156 SF Industrial Portfolio in Dallas-Fort Worth Metroplex

by Taylor Williams July 11, 2022

DALLAS — JLL has negotiated the sale of a portfolio of 19 industrial buildings totaling 764,156 square feet. The buildings are located in various cities throughout the Dallas-Fort Worth metroplex. At the time of sale, the portfolio was 96 percent leased to 29 tenants with an average remaining lease term of 4.3 years. Stephen Bailey, Dustin Volz, Dom Espinosa, Wells Waller, Pauli Kerr and Cole Sutter of JLL represented the seller, Dallas-based investment firm MoxieBridge, in the transaction. Arden Logistics Park, the industrial investment arm of Philadelphia-based Arden Group, acquired the portfolio in partnership with global investment management firm Arcapita.

July 11, 2022

Acquisitions Multifamily Texas

Thompson Thrift Residential Sells 324-Unit Retreat Apartments in Corpus Christi

by Taylor Williams July 11, 2022

CORPUS CHRISTI, TEXAS — The residential branch of Thompson Thrift, a development and investment firm with offices in Indiana, Phoenix and Houston, has sold The Retreat, a 324-unit apartment community in Corpus Christi. Developed in 2017, the community comprises 14 three-story buildings with one-, two- and three-bedroom units. Residences feature granite countertops, full-sized washers and dryers, private balconies and detached garages. Amenities include a pool, fitness center, clubhouse, technology center, movie lounge, gaming den, a bark park and a package handling system. Kelly Witherspoon, Justin Cole and Adam Sumrall of Berkadia brokered the sale. The buyer and sales price were not disclosed. The Retreat was 96 percent occupied at the time of sale.

July 11, 2022

Loans Multifamily Texas

Prime Finance Provides $47.3M Acquisition Loan for 312-Unit Multifamily Property in San Antonio

by Taylor Williams July 11, 2022

SAN ANTONIO — Prime Finance has provided a $47.3 million acquisition loan for Lantower Alamo Heights, a 312-unit multifamily property in San Antonio. Built in 2015, Lantower Alamo Heights offers one-, two- and three-bedroom units and was 93 percent occupied at the time of sale. The amenity package consists of a pool, conference room, courtyard, dog park, pet wash station, fire pit, fitness center, a game room and outdoor grilling areas. Marko Kazanjian, Chris McColpin, Max Herzog and Andrew Cohen of JLL arranged the floating-rate loan, as well as a preferred equity investment with Connecticut-based Sound Mark Partners, on behalf of the borrower, Austin-based Old Three Hundred Capital.

July 11, 2022

Loans Multifamily Texas

Colliers Mortgage Provides $25.4M HUD-Insured Construction Loan for Metro Dallas Multifamily Project

by Taylor Williams July 11, 2022

GARLAND, TEXAS — Colliers Mortgage has provided a $25.4 million HUD-insured construction loan for The Draper, a 155-unit multifamily project that will be located in the northeastern Dallas suburb of Garland. The Draper will offer a mix of one- and two-bedroom, market-rate units. Colliers arranged the loan, which carries a 40-year term and amortization schedule, through HUD’s 221(d)(4) program. The borrower was an entity doing business as GFNT Opportunity II LP.

July 11, 2022

Build-to-Rent Development Single-Family Rental Texas

AHV Communities to Develop 157-Unit Single-Family Rental Project in McKinney, Texas

by Taylor Williams July 11, 2022

MCKINNEY, TEXAS — AHV Communities will develop a 157-unit single-family rental project in the northern Dallas suburb of McKinney. The development will sit on a 38-acre site along U.S. Highway 380 and will house three- and four-bedroom homes with private backyards and two-car garages. The community will offer several amenities, including a pool, fitness center, dog park, grilling and picnic areas, clubhouse and a bocce ball/game court. Construction is scheduled to begin in early 2023.

July 11, 2022

Acquisitions Multifamily Texas

Three Pillars Capital Acquires 544-Unit Del Mar Apartments in Houston

by Taylor Williams July 8, 2022

HOUSTON — Locally based private equity firm Three Pillars Capital Group has acquired Del Mar Apartments, a 544-unit multifamily community in Houston’s Edgebrook neighborhood. Built in 1972, the property offers one-, two- and three-bedroom units that are furnished with built-in bookshelves, passthrough kitchen bars and individual washers and dryers. Amenities include three pools and a fitness center. Jim Hurd of Houston Income Properties represented Three Pillars Capital, which plans to implement a capital improvement program, in the deal. Houston-based First Choice Management sold the property for an undisclosed price.

July 8, 2022

Newer Posts

Older Posts