RICHMOND, TEXAS — Guefen Development Partners has acquired 13.3 acres in the southwestern Houston suburb of Richmond for the development of Haven Mission Trace, a 264-unit apartment complex. The property will consist of eight residential buildings that will house units ranging in size from 669 to 1,266 square feet, as well as a pool and a clubhouse. Ashley Casterlin of Davis Commercial represented the seller in the land deal. A tentative completion date was not disclosed.
HOUSTON — Texas-based accounting firm Weaver has signed a 60,247-square-foot office lease at 440 Post Oak Parkway in Houston’s River Oaks district. The space spans three floors of the 28-story building, which was originally constructed in 1982. The landlord, Florida-based CP Group, is in the midst of renovating the building to feature an activated lobby, fitness center, conference rooms, coffee bar, restaurant and outdoor green spaces. Scott Morse of Citadel Partners represented Weaver in the lease negotiations.
MCKINNEY, TEXAS — Locally based developer KDC has completed Phase II of Independent Financial’s $150 million office headquarters campus in the northern Dallas suburb of McKinney. Construction of the six-story, 198,000-square-foot building, which is located within the Craig Ranch master-planned development, began in early 2021. KDC completed Phase I of the project, which featured a 165,000-square-foot building on a 10-acre site, in summer 2019. Amenities include a fitness center, coffee bar and a grab-and-go dining area. Earlier this year, the project team purchased an additional 17 acres located northwest of the campus for further expansion, bringing the total footprint to 30 acres.
HOUSTON — Arizona-based SB Properties has acquired Vargos on the Lake, a 276-unit apartment community in West Houston. The property offers one- and two-bedroom apartments and three-bedroom townhomes. Amenities include a pool with a sundeck, fitness center with yoga and kickboxing stations, resident lounge with billiards and poker tables, conference lounge and a dog park. Jennifer Ray and Ryan Epstein of Walker & Dunlop represented the seller, Berkshire Group, in the transaction. The sales price was not disclosed.
BAYTOWN, TEXAS — Marcus & Millichap has brokered the sale of Cedar Grove Park RV Resort, a 266-site RV park located in the eastern Houston suburb of Baytown. Robert Denninger of Marcus & Millichap represented the seller, a private investor, and the buyer, a limited liability company, in the transaction. Both parties involved in the deal requested anonymity. The property was roughly 90 percent occupied at the time of sale.
ARLINGTON, TEXAS — Locally based investment firm 180 Multifamily Properties has purchased a 224-unit complex in Arlington. According to Apartments.com, the property at 834 Timberlake Drive offers one-, two- and three-bedroom units ranging in size from 600 to 1,010 square feet, as well as a business center and a clubhouse. The new ownership plans to implement a value-add program and rebrand the property as Oakmont Apartment Homes. The seller was Florida-based ZMR Capital.
HOUSTON — NAI Partners has arranged the sale of five freestanding industrial buildings totaling approximately 85,000 square feet in northwest Houston. Darren O’Conor of NAI Partners represented the seller and developer, Vault Partners, in the disposition of the buildings, which traded to four different buyers. Buyer representatives included Jeremy Kraus and Jordan Enger of CBRE; Gerrit Stryker of United Real Estate; Jason Gibbons and Jack Gaffney of Finial Group; and Rafael Melara of Hunington Properties
DALLAS AND AUSTIN, TEXAS — Good + West has partnered with a Dallas-based private equity fund for the development of four build-for-rent (BFR) projects in the state of Texas. Development costs are set to total $400 million. The communities will be built under the Austin, Texas-based development firm’s Perch banner over the course of the next four years. Heather McClure of Walker & Dunlop advised Good + West in identifying its joint venture partner for the projects. Perch communities offer a seres of single-family buildings with fenced-in yards and patios, alongside shared amenities including resort-style swimming pools, outdoor kitchens with gas grills, fire pits, game lawns, pet parks, fitness centers and landscaped courtyards. The company currently has $150 million worth of BFR development underway in the state of Texas, including the joint venture’s first project, Perch Denton. Located in the Dallas-Fort Worth suburb of Denton, the community is scheduled for delivery in 2023 and will offer 195 units. Additional Good + West BFR projects currently underway include Perch Chisolm Trail in Fort Worth and Perch Manor Downs, located outside Austin in Manor. Phase I of both projects are set for delivery in 2023 and 2024, respectively. The pace of development …
DALLAS — CBRE has arranged the sale of DalParc Logistics Center, a newly built, 1 million-square-foot industrial development in South Dallas. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE represented the seller and developer, Kansas City-based VanTrust Real Estate, in the transaction. Property Reserve Inc. purchased DalParc Logistics Center, which is fully leased to an unnamed tenant, for an undisclosed price. VanTrust broke ground on the project in summer 2020.
HOUSTON — Walker & Dunlop has brokered the sale of 7 Square, a 402-unit apartment community in Houston. The property offers one- and two-bedroom units and amenities such as two pools, a fitness center with yoga and spin rooms, a wine room and outdoor grilling stations. Walker & Dunlop’s Ryan Epstein and Jennifer Ray represented the undisclosed seller in the transaction. The duo also worked with Mark Vinitsky and Harvey Pava of Walker & Dunlop to arrange acquisition financing through Voya Financial on behalf of the buyer, a partnership between DLP Capital and Avid Realty Partners. The loan was structured with a three-year term and interest-only payments.