Texas

Elizabeth Property Group Buys 1,444-Unit Affordable Housing Portfolio in Texas

by Taylor Williams July 13, 2023

DALLAS — Dallas-based investment firm Elizabeth Property Group has purchased a portfolio of six affordable housing properties totaling 1,444 units in Texas. The properties are located in Houston, Dallas-Fort Worth, Beaumont, Huntsville, Bryan-College Station and Wichita Falls. Elizabeth Property Group plans to renovate the properties by addressing deferred maintenance, painting and replacing unit floors and undertaking exterior landscape upgrades. Afterschool community programs will also be offered at each property. American South Fund Management provided acquisition financing for the deal. The seller was not disclosed.

July 13, 2023

Acquisitions Affordable Housing Multifamily Texas

Hunt Capital Partners Sells Interest in 248-Unit Affordable Housing Community in San Antonio

by Taylor Williams July 13, 2023

SAN ANTONIO — Hunt Capital Partners has sold its ownership interest in Stonehouse Apartment Homes, a 248-unit affordable housing community in San Antonio, to the Mexican American Unity Council. The property, which is nearing the end of its compliance period, offers one-, two- and three-bedroom units and amenities such as a pool, clubhouse, courtyard and onsite laundry facilities. The percentage of the interest and the sales price it commanded were both undisclosed.

July 13, 2023

Industrial Leasing Activity Texas

Ryder Integrated Logistics Signs 234,478 SF Industrial Lease Near Fort Worth

by Taylor Williams July 13, 2023

HALTOM CITY, TEXAS — Third-party freight services provider Ryder Integrated Logistics has signed a 234,478-square-foot, full-building industrial lease at Northmark Commerce Center in the Fort Worth metro of Haltom City. The site spans 20 acres, and the cross-dock facility includes a 104-stall trailer drop lot. Brad Struck and Clint Manning of Cresa represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Creation Equity.

July 13, 2023

Acquisitions Industrial Self-Storage Texas

Versal Arranges Sale of 100-Unit Self-Storage Facility in Austin

by Taylor Williams July 13, 2023

AUSTIN, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stash N Go, a 100-unit facility located roughly eight miles outside of downtown Austin. The facility spans 14,150 net rentable square feet and was 90 percent occupied at the time of sale. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, an Austin-based entity doing business as Libertas Obsido LLC, in the transaction. The team also procured the undisclosed, Miami-based buyer.

July 13, 2023

Leasing Activity Office Texas

Method Architecture to Open 8,612 SF Office at East River in Houston

by Taylor Williams July 13, 2023

HOUSTON — Method Architecture will open an 8,612-square-foot office at East River, a 150-acre mixed-use development in Houston’s Historic Fifth Ward. The tenant is relocating from a space on the east side of downtown Houston and expects to open this fall. About 60 employees will work in the office, which features an open layout with hotel-style workstations. Employees also have access to a nine-hole, par-three golf course that opened at East River in fall 2022, as well as pickleball courts, a restaurant and 15,000-square-foot music venue designed by Method. Midway owns East River.

July 13, 2023

Development Office Texas

Broadshore Capital to Renovate 349,190 SF Office Building in Houston’s Energy Corridor

by Taylor Williams July 12, 2023

HOUSTON — Broadshore Capital Partners will renovate Eldridge Oaks, a 14-story, 349,190-square-foot office building in Houston’s Energy Corridor area. The renovation will update outdoor amenities to further enhance the tenant experience and upgrade the first- and second-floor lobbies, conference center and on-site food services. The project team also plans to add a tenant lounge space and enhance other common spaces. IA Interior Architects and OJB designed the project. Stream Realty Partners is the leasing agent.

July 12, 2023

Acquisitions Industrial Texas

Westcore Acquires 301,120 SF Distribution Center in Rockwall, Texas

by Taylor Williams July 12, 2023

ROCKWALL, TEXAS — San Diego-based investment firm Westcore has acquired Rockwall Distribution Center, a 301,120-square-foot industrial property located on the eastern outskirts of Dallas. Building features include 32-foot clear heights, 185-foot truck court depths, ESFR sprinklers, 68 dock-high loading doors and 62 trailer parking spots. Dustin Volz, Stephen Bailey and Dom Espinosa of Newmark, along with Matt Dornak and Ryan Wolcott of Stream Realty Partners, represented the undisclosed seller in the transaction. The facility was roughly 70 percent leased at the time of sale to an unnamed tenant.

July 12, 2023

Development Multifamily Texas

McNair Interests Breaks Ground on 221-Unit Multifamily Project in Houston

by Taylor Williams July 12, 2023

HOUSTON — Locally based developer McNair Interests has broken ground on Phase II of Remy on the Trails, a 221-unit multifamily project in Houston’s Westchase neighborhood. The site at 10505 Deerwood Road spans 6.8 acres. The complex will house one-, two- and three-bedroom units that will range in size from 900 to 1,500 square feet. Amenities will include a pool, fitness center, clubroom, dog park and outdoor grilling and dining stations. Project partners include Cadence Bank (construction lender), Arch-Con Corp. (general contractor), The Preston Partnership (lead architect), MaRS (interior design) and Kimley-Horn (landscape design). The first move-ins are expected to begin in summer 2024.

July 12, 2023

Leasing Activity Office Texas

Southeast Texas Regional Advisory Council Signs 10,196 SF Office Lease Renewal in Houston

by Taylor Williams July 12, 2023

HOUSTON — The Southeast Texas Regional Advisory Council, a nonprofit that serves the healthcare industry, has signed a 10,196-square-fooot office lease renewal at 1111 N. Loop W in Houston. Ryan Hand, Harry Holmes and Charlie Neuhaus of Partners Real Estate represented the tenant in the lease negotiations. Guy Brown of Texas Overland represented the landlord, Nitya Capital.

July 12, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 8,800 SF Office Lease Renewal in Fort Worth

by Taylor Williams July 12, 2023

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated an 8,800-square-foot office lease renewal at 2816 Shamrock Ave. in Fort Worth. According to LoopNet Inc., the building was constructed in 1972, renovated in 2008 and totals 16,000 square feet. Jake Neal and Blake Lloyd of Holt Lunsford represented the tenant, San Jose Cattle Co., in the lease negotiations. The name and representative of the landlord were not disclosed.

July 12, 2023

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