Tuesday, October 1, 2024
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Texas

Affordable HousingDevelopmentMultifamilyTexas

Hunt Capital Partners Completes 116-Unit Affordable Housing Project in North Austin

by Jeff Shaw

AUSTIN, TEXAS — Hunt Capital Partners has completed Saison North, a 116-unit affordable housing project located at the site of the former NXNW Brewery in North Austin. The majority (70 percent) of the units are subject to income restrictions, specifically for households earning 30, 50 or 60 percent or less of the area median income. Units come in one-, two- and three-bedroom floor plans, and amenities include a clubhouse with community kitchen, a fitness center and a business center. Hunt Capital Partners developed the property in partnership with O-SDA Industries, Travis County Housing Finance Corp. and Saigebrook Development.

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AcquisitionsLoansMultifamilyTexas

JLL Arranges Agency Acquisition Financing for 116-Unit Monticello Apartments in Fort Worth

by Jeff Shaw

FORT WORTH, TEXAS — JLL has arranged a Freddie Mac acquisition loan of an undisclosed amount for Monticello Apartments, a 116-unit multifamily complex in Fort Worth. The property consists of 22 two-story buildings that house 56 one-bedroom and 60 two-bedroom apartments. Units average 952 square feet in size and feature walk-in closets, patios or balconies, washer and dyers, stainless steel appliances and air conditioning. John Brownlee, Bo Beidleman, Blake Morrison and Aaron Craig of JLL originated the five-year, fixed-rate loan on behalf of the borrower, Price Realty.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 50-Room Hotel in Canadian, Texas

by Jeff Shaw

CANADIAN, TEXAS — Marcus & Millichap has brokered the sale of Canadian Courts Motel, a 50-room hospitality property located near Amarillo in northwest Texas. The motel offers complimentary breakfast and a meeting and event space that can accommodate up to 150 people. Allan Miller and Chris Gomes of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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Leasing ActivityRetailTexas

Body20, OrangeTwist Open Stores at The Shops at Highland Village in North Texas

by Jeff Shaw

HIGHLAND VILLAGE, TEXAS — Fitness concept Body20 and beauty treatments provider OrangeTwist have opened new studios/stores at The Shops at Highland Village, a retail center located about 15 miles north of Dallas-Fort Worth International Airport. The spaces span 2,000 and 2,300 square feet, respectively. Restaurant Drago House will also join the lineup later this year. JLL manages the property.

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AcquisitionsRetailTexas

Friedman Real Estate Negotiates Sale of 7,190 SF Retail Building Leased to Family Dollar in San Angelo, Texas

by Jeff Shaw

SAN ANGELO, TEXAS — Michigan-based brokerage firm Friedman Real Estate has negotiated the sale of a 7,190-square-foot retail building in the West Texas city of San Angelo. Family Dollar occupies the building, which was constructed in 2003. Shane Smith and Jared McNutt of Friedman represented the seller, a Texas-based investment firm, in the transaction. The buyer was an Ohio-based family office. Both parties requested anonymity.

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AcquisitionsMultifamilyStudent HousingTexas

Palladius Capital Management Buys 694-Bed Student Housing Community in San Antonio

by Taylor Williams

SAN ANTONIO — Austin-based investment firm Palladius Capital Management has purchased The Luxx, a 694-bed student housing community that serves students at the University of Texas at San Antonio (UTSA). Built in 2014, the property is located roughly a mile from campus and offers one-, two- and four-bedroom layouts across 220 units with bed-to-bath parity. Amenities include a pool, study spaces, volleyball court, fitness center, dog park and outdoor grills and dining stations. Palladius plans to implement a value-add program. The seller and sales price were not disclosed.

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DevelopmentMultifamilyTexas

Trademark Receives Zoning Approval for 400-Unit Multifamily Project in Dallas

by Taylor Williams

DALLAS — Trademark Property Co. has received approval from the Dallas City Council to rezone the site at 3900 Lemmon Ave. in the Oak Lawn area. The Fort Worth-based developer plans to construct a multifamily community with more than 400 units at the corner of Lemmon Avenue and Reagan Street. The building will rise three to seven stories and encompass three acres. The preliminary design includes plans for pocket parks, an amenity terrace and a ground-floor restaurant. Dallas-based GFF is the project architect. A construction timeline has not yet been established. 

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LoansMixed-UseTexas

Dwight Capital Provides $58.6M HUD-Insured Loan for Amarillo Mixed-Use Property

by Taylor Williams

AMARILLO, TEXAS — New York City-based Dwight Capital has provided a $58.6 million HUD-insured loan for Residences at Town Square, a 32-acre mixed-use property in Amarillo that consists of 480 residential units and 121,360 square feet of commercial space. The residential component comprises four five-story apartment buildings, and the commercial space houses a dental office, nail bar, spa, retail merchandising and restaurant users. Daniel Malka of Dwight Capital originated the debt through HUD’s 223(f) program on behalf of the borrower, Williams Group. Daniel Hartnett of Greysteel served as the loan correspondent.

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AcquisitionsMultifamilyTexas

S2 Capital Acquires 202-Unit Multifamily Property in Southwest Austin

by Taylor Williams

AUSTIN, TEXAS — Dallas-based investment firm S2 Capital has acquired Vineyard Hills, a 202-unit multifamily property in southwest Austin. The site spans 11 acres, and the property features one-, two- and three-bedroom floor plans. Amenities include a pool, spa, dog park and outdoor grilling and dining stations.  Ryan McBride, Robert Arzola, Robert Wooten, Alex Fernandes and Nick Beardslee of JLL represented the seller, Bob Reeves, in the transaction. Mark Brandenburg, also with JLL, arranged an undisclosed amount of acquisition financing for the deal through Benefit Street Partners. S2 Capital acquired the property in conjunction with Belle Rive Club Apartments, a 104-unit complex in Jacksonville, Fla.

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AcquisitionsRestaurantRetailTexas

Marcus & Millichap Brokers Sale of 5,677 SF Retail Building Leased to IHOP in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Marcus & Millichap has brokered the sale of a 5,677-square-foot retail building in the northern Houston suburb of Spring. The building is located along the I-45 corridor and is leased to breakfast eatery IHOP, which has 15 years remaining on its lease. John Paine of Marcus & Millichap represented the seller, metro Atlanta-based investment firm Greenleaf Property Management, in the transaction. Paine also procured the buyer, a California-based 1031 exchange investor.

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