DALLAS — Miami-based Atlantic Pacific Cos. (A|P) has purchased Highland Park West Lemmon, a 372-unit apartment community in the Highland Park area of Dallas. The mid-rise building houses a mix of studio, one-, two- and three-bedroom floor plans ranging in size from 503 to 1,749 square feet, as well as 18,000 square feet of ground-floor retail space. The amenity package consists of two pools, a fitness center, resident clubhouse and a dog park. The seller and sales price were not disclosed. Following this purchase, A|P now owns 16 multifamily properties in Texas totaling nearly 5,500 units.
HOUSTON — Locally based investment firm Barvin has acquired Elan Heights, a 326-unit apartment community in The Heights neighborhood of Houston. Developed in 2016 by South Carolina-based Greystar, the property features units with stainless steel appliances and quartz countertops. Amenities include a fitness center with yoga and spin studios, a game room, conference center and a rooftop lounge. The seller and sales price were not disclosed.
FRESNO, TEXAS — Houston-based Guefen Development Partners has acquired two parcels totaling roughly 40 acres in Fresno, located southwest of Houston, for the development of a 320-unit build-to-rent residential project. The tracts include a 30.3-acre parcel along Rabb Road and a 9.7-acre adjacent parcel fronting State Highway 6. Jason Scholtz of Colliers represented the family that sold the land to Guefen Development. A construction timeline was not disclosed.
FORT WORTH, TEXAS — Cushman & Wakefield has negotiated a 250,000-square-foot industrial lease in Fort Worth for goTRG, a provider of reverse logistics services. The space is located within a newly built speculative development that consists of three buildings that are owned by Denver-based Black Creek Group. Mark Collins led the Cushman & Wakefield brokerage team that represented the tenant in the lease negotiations. Scott Moore and Bob Scully of CBRE represented Black Creek Group.
GRAND PRAIRIE, TEXAS — Texas-based developer Presidium has begun leasing Presidium Hill Street, a 290-unit multifamily project located in the central metroplex city of Grand Prairie. Units are furnished with stainless steel appliances, smart technology lock systems and Ecobee thermostats. Amenities include a pool, business lounge with conference rooms, rooftop terrace, fitness center, onsite car wash and a pet grooming area. Project partners include O’Brien Architects, interior design firm SLJ Design Group and civil engineer Kimley-Horn. Move-ins are scheduled to begin in spring 2022.
PEARLAND, TEXAS — Chicago-based investment firm Waterton has acquired Stonepost at Shadow Creek Ranch, a 360-unit apartment community located within the Shadow Creek master-planned community in the southern Houston suburb of Pearland. Built on 27.5 acres in 2010, the garden-style property offers one-, two- and three-bedroom units with an average size of 1,150 square feet. Amenities include a pool, fitness center, resident clubhouse, grilling area, billiards room, playground and a dog park. Waterton plans to upgrade the community’s unit interiors, mechanical systems, exterior landscaping and parking areas, as well as to rebrand the community as Sladestone at Shadow Creek Ranch. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Hillwood will develop a 135,000-square-foot speculative office building within the 900-acre Alliance Town Center development in Fort Worth. Hillwood Commons II is the first of two planned sister buildings and will be expandable to up to 270,000 square feet. The building will feature increased air filtration, bipolar ionization systems, touchless doors, electric vehicle charging stations and connectivity to the outdoors via the Alliance Town Center trail network and park system. Completion is slated for February 2023.
MANSFIELD, TEXAS — South Carolina-based developer Greystar has begun leasing Album Mansfield, a 190-unit active adult community located on the southern outskirts of Fort Worth. Units come in one- and two-bedroom formats and are reserved for renters age 55 and above. Amenities include a pool, outdoor activity terrace, dog park, coffee bar, game room, movie theater, fitness center and walking trails. Rents start at $1,300 per month for a one-bedroom unit.
COPPELL, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Valley Ranch Centre, a 111,211-square-foot retail property in Coppell, located in the northern-central part of the metroplex. Anchored by Club 4 Fitness and Dollar Tree, Valley Ranch Centre was built on 11.6 acres in 1989 and was roughly 75 percent leased at the time of sale. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Centcom Realty Corp., and procured the out-of-state buyer in the transaction.
DALLAS — Denver-based investment firm Baceline Group has acquired two shopping centers totaling 78,311 square feet in the Dallas area. The properties include the 53,948-square-foot Preston Lloyd Shopping Center, located at 19009 Preston Road in Dallas, and the 24,363-square-foot Orchid Centre, located at 4150 Eldorado Parkway in the northern Dallas suburb of McKinney. Baceline Group acquired the assets as part of a portfolio that included a 26,442-square-foot center in Montgomery, Ohio. The seller was not disclosed.