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DevelopmentMultifamilyTexas

Thompson Realty, Trez Capital to Develop 504-Unit Multifamily Project in North Austin

by Taylor Williams

AUSTIN, TEXAS ­— Locally based developer Thompson Realty Capital and its equity partner, Trez Capital, will develop Larkspur Liberty Hill, a 504-unit multifamily project in Austin. The garden-style property will be located on the city’s north side and will feature a pool, leasing office and amenity center. Units will come in one-, two- and three-bedroom floor plans and average 920 square feet. Construction will occur in two phases, with the initial groundbreaking scheduled for early this year and tentative completion slated for 2025.

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San-Antonio-Community-Based-Outpatient-Clinic
DevelopmentHealthcareTexas

Newmark Negotiates Sale of 226,148 SF VA Outpatient Clinic in San Antonio

by Taylor Williams

SAN ANTONIO — Newmark has negotiated the sale of the San Antonio Community Based Outpatient Clinic, a newly built, 226,148-square-foot healthcare property that is fully leased to the Department of Veterans Affairs (VA). Gary Carr, Robert Hill and Chris Murphy of Newmark represented the seller, U.S. Federal Properties Co., in the transaction. The buyer and sales price were not disclosed.

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AcquisitionsMultifamilyTexas

Lloyd Jones Acquires 351-Unit Multifamily Community in Metro Houston

by Taylor Williams

KATY, TEXAS — Miami-based investment firm Lloyd Jones has acquired Seville at Clay Crossing, a 351-unit apartment community located in the western Houston suburb of Katy that was built in 2020. Units at the property feature granite countertops, private garages and individual washers and dryers. Amenities include a pool, package lockers and a dog park. The seller and sales price were not disclosed.

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McKinney-National-Business-Park
DevelopmentIndustrialTexas

TDC Breaks Ground on 945,000 SF McKinney National Business Park in Metro Dallas

by Taylor Williams

MCKINNEY, TEXAS — Transwestern Development Corp. (TDC) has broken ground on a five-building, 945,000-square-foot industrial project in the northern Dallas suburb of McKinney. McKinney National Business Park will be a speculative development that will be constructed in two phases on a 64-acre site adjacent to McKinney National Airport. Completion of Phase I is slated for the fourth quarter.

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DevelopmentIndustrialTexas

PCCP, Milam to Develop 560,500 SF Spec Industrial Project in San Antonio

by Taylor Williams

SAN ANTONIO — A joint venture between Los Angeles-based PCCP LLC and San Antonio-based Milam Real Estate Capital will develop a 560,500-square-foot speculative industrial project in San Antonio. The site is located near the Interstate 10-Loop 410 interchange within the 340-acre Rosillo Creek Industrial Park on the city’s northeast side. Cavender Hill has been tapped to lease the development. A construction timeline was not released.

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LoansMultifamilyTexas

Dwight Capital Provides $37.2M Acquisition Loan for Houston Multifamily Property

by Taylor Williams

HOUSTON — New York City-based Dwight Capital has provided a $37.2 million bridge loan for the acquisition of Valencia Grove, a 460-unit multifamily property in southeast Houston. The garden-style property consists of 32 buildings on a 17.3-acre site. Amenities include a pool, courtyard, leasing office/clubhouse and two dog parks. Kevin Lifshitz and Keith Hoffman of Dwight Capital originated the financing. The borrower was Bodka Creek Capital.

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Citizen-House-Decker-Austin
AcquisitionsLoansMultifamilyTexas

Newmark Brokers Sale of 324-Unit Citizen House Decker Apartments in East Austin

by Taylor Williams

AUSTIN, TEXAS — Newmark has brokered the sale of Citizen House Decker, a 324-unit apartment community in East Austin. According to Apartments.com, the property was built in 2021 and features one- and two-bedroom units that range in size from 650 to 1,250 square feet. Amenities include a pool, resident clubhouse with a kitchen, coworking spaces, an arcade, fitness center, business center and outdoor grilling areas. Locally based developer Endeavor Real Estate Group sold the asset to Toronto-based Prism Multifamily Group for an undisclosed price. Patton Jones and Andrew Dickson of Newmark brokered the deal. The new ownership will rebrand the property as Spectra Parks. Asia Capital Real Estate provided a $57.8 million bridge loan for the acquisition of the property. Mark Grace and Alison Williams of Walker & Dunlop arranged the debt.

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Switchyard-Apartments-Carrollton
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 234-Unit Switchyard Apartments in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Switchyard Apartments, a 234-unit multifamily community located in the northern Dallas suburb of Carrollton. Stoneleigh Cos. and Realty Capital Management developed the property in 2019. Amenities include a pool, fitness center and outdoor gathering areas. Drew Kile, Michael Ware, Joey Tumminello, Taylor Hill, Will Balthrope and Grant Raymond of IPA represented the seller, an entity doing business as SC Switchyard LLC, in the transaction. The team also procured the buyer, Tampa-based American Landmark. Switchyard Apartments was 96 percent occupied at the time of sale.

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AcquisitionsMultifamilyTexas

Embrey Partners Sells 323-Unit Apartment Community in San Antonio

by Taylor Williams

SAN ANTONIO — Locally based developer Embrey Partners has sold Standard at Legacy, a 323-unit apartment community located on the north side of San Antonio that, according to Apartments.com, offers studio, one-, two- and three-bedroom units. Residences are furnished with quartz countertops, custom cabinetry and stainless steel appliances. Amenities include a cyber lounge with workspaces and a conference room, a fitness center with yoga and virtual fitness studios, golf simulator, an outdoor area with kitchen and games, a pool with cabanas and a dog park. Chicago-based Sherman Residential purchased the property for an undisclosed price.

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601-Tittle-Drive-Dallas
IndustrialLeasing ActivityTexas

Zuri Furniture Signs 270,686 SF Industrial Lease in Dallas

by Taylor Williams

DALLAS — Zuri Furniture, which specializes in outfitting homes and offices, has signed a 270,686-square-foot, full-building industrial lease at 601 Tittle Drive in Dallas. The space is under construction within the 1,700-acre Austin Ranch master-planned development on the city’s north side and is expected to be available for occupancy by March 1. Chad Albert of NAI Robert Lynn represented the tenant in the lease negotiations. George Billingsley represented the landlord, locally based developer Billingsley Co., on an internal basis.

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