Texas

Praedium Group Buys 330-Unit Lenox Grand Crossing Apartments in Metro Houston

by Taylor Williams October 13, 2021

HOUSTON — New York City-based investment firm The Praedium Group has purchased Lenox Grand Crossing, a 330-unit apartment community in the western Houston suburb of Katy that was built in 2020. Units within the 10-building community feature stainless steel appliances, granite countertops, tile backsplashes and full-sized washers and dryers. Amenities include a pool with cabanas, outdoor pavilion with grilling stations, recreational lounge with a pool table and bar seating, a fitness center, two dog parks and a package locker system. The seller was not disclosed.

October 13, 2021

Development Multifamily Single-Family Rental Texas

Banyan Residential Breaks Ground on 163-Unit Single-Family Rental Community in Kyle, Texas

by Taylor Williams October 13, 2021

KYLE, TEXAS — Los Angeles-based Banyan Residential has broken ground on Banyan Bunton Creek, a 163-unit single-family rental (SFR) community in Kyle, located in between Austin and San Antonio. Residences will feature two-car garages, fully landscaped backyards and modern interiors, and renters will have access to a pool with a splash pad and cabanas. Leasing is scheduled to begin early next year. An affiliate of Walton Street Capital is financing the project, which will be Banyan Residential’s second SFR community following the July opening of the 96-unit Banyan Kingsland Heights in Houston.

October 13, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 93,945 SF Industrial Park in Sugar Land, Texas

by Taylor Williams October 13, 2021

SUGAR LAND, TEXAS — JLL has negotiated the sale of Commerce Center Sugar Land, a 93,945-square-foot industrial property located on the southwestern outskirts of Houston. Built between 2006 and 2007, Commerce Center Sugar Land consists of six buildings with warehouse, manufacturing and specialized lab space that feature 16- to 18-foot clear heights and a 37 percent office finish. Trent Agnew, Charles Strauss, Katherine Miller and Jack Moody of JLL represented the seller, an affiliate of Houston-based Griffin Partners, in the transaction. A subsidiary of ARKA Properties Group Inc. purchased the asset for an undisclosed price.

October 13, 2021

Acquisitions Multifamily Texas

CBRE Negotiates Sale of Three Multifamily Properties Totaling 466 Units in Metro Dallas

by Taylor Williams October 12, 2021

ARLINGTON AND CEDAR HILL, TEXAS — CBRE has negotiated the sale of three multifamily properties totaling 466 units in the Dallas area. The 186-unit Biltmore Apartments and the 248-unit Park Lane Apartments are located in Arlington, and the 32-unit Cedars Apartments is located in the southern suburb of Cedar Hill. Chris Deuillet and William Hubbard of CBRE represented the seller, Macdonald Realty, in the transaction. A partnership between Legacy REI and Casa REI purchased the properties for an undisclosed price.

October 12, 2021

Industrial Leasing Activity Office Texas

Diab Americas Signs 265,248 SF Headquarters Lease in DeSoto, Texas

by Taylor Williams October 12, 2021

DESOTO, TEXAS — Diab Americas LP, a Swedish manufacturer of core products for the marine and aerospace industries, has signed a 265,248-square-foot headquarters lease at I-20 Corporate Center in the southern Dallas suburb of DeSoto. The headquarters location consists of 242,248 square feet of warehouse space and 23,000 square feet of office space. Kevin Santaularia, Michael Spain and Michael Grant of Bradford Commercial Real Estate Partners represented the locally based landlord, 220 E. Danieldale Partners, in the lease negotiations. The tenant plans to take occupancy of the space in November.

October 12, 2021

Acquisitions Multifamily Texas

West Shore Acquires 322-Unit Sovereign Apartments in North Fort Worth

by Taylor Williams October 12, 2021

FORT WORTH, TEXAS — Boston-based multifamily investment firm West Shore LLC has acquired The Sovereign, a 322-unit apartment community in North Fort Worth. The property, which according to Apartments.com was built in 2015, offers one-, two- and three-bedroom units. Amenities include a pool, outdoor kitchen, dog park, fitness center, clubhouse and an auto detailing center. The seller and sales price were not disclosed. West Shore now owns and operates about 11,000 units across seven states following this acquisition.

October 12, 2021

Acquisitions Industrial Texas

Fort Capital Buys 49,441 SF Industrial Complex in Northeast San Antonio

by Taylor Williams October 12, 2021

SAN ANTONIO — Fort Worth-based investment firm Fort Capital has purchased a 49,441-square-foot industrial complex at 14309 Toepperwein Road in San Antonio. The Class B facility features 37 suites ranging in size from 799 to 3,120 square feet and is located about 1.2 miles from Interstate 35 on the city’s northeast side. The seller and sales price were not disclosed.

October 12, 2021

Acquisitions Retail Texas

RealSource Brokers Sale of 47,000 SF Retail Building Leased to LA Fitness in Metro Houston

by Taylor Williams October 12, 2021

RICHMOND, TEXAS — RealSource Group has brokered the sale of a 47,000-square-foot retail building leased to LA Fitness in Richmond, located southwest of Houston. The newly constructed building is located within the 525,000-square-foot Waterview Town Center, which is across the street from an Amazon distribution center and in front of a 300-unit apartment community. Austin Blodgett of RealSource, in conjunction with brokerage firm ParaSell Inc. represented the Houston-based seller in the transaction. Blodgett and ParaSell also represented the buyer, a private partnership based in Texas.

October 12, 2021

Data Centers Development Industrial Texas

Rowan Green to Develop $300M Hyperscale Data Center Campus in Temple, Texas

by Taylor Williams October 11, 2021

TEMPLE, TEXAS — Rowan Green Data, a data center developer and infrastructure provider with offices in Houston and Portland, will develop a $300 million hyperscale campus in the Central Texas city of Temple. The project will span approximately 135,000 square feet and have a power capacity of about 500 megawatts. In the data center space, the amount of electricity needed to power the servers and cool the equipment is the highest variable cost; as such, the size of data center deals is frequently measured by the consumption of megawatts rather than square footage. All factors being held equal, one megawatt of energy is enough to power 500 or so homes for a full year. The facility, whose hyperscale designation indicates that it will be marketed to large tech companies with heavy cloud-based operations, will be constructed in two phases on a 32-acre site. Construction of the first phase is slated for a summer-2022 delivery, and full completion is scheduled for 2023.

October 11, 2021

Acquisitions Multifamily Texas

S2 Capital Buys 1,893-Unit Multifamily Portfolio in Dallas-Fort Worth, Austin

by Taylor Williams October 11, 2021

DALLAS — Locally based investment firm S2 Capital has purchased a portfolio of four multifamily properties totaling 1,893 units, including three in the Dallas-Fort Worth (DFW) metroplex and one in Austin. The properties are: Hyde Park at Montfort in Dallas (662 units); Twin Creeks Crossing I (347 units) and Twin Creeks Crossing II in Allen (330 units); and Tintara at Canyon Creek in Austin (554 units). Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the undisclosed seller in the transaction. Jeff Erxleben, Lauren Bresky, Kevin Leamy and Loren Heikenfeld, also with NorthMarq, arranged an undisclosed amount of floating-rate debt on behalf of S2 Capital. The new ownership plans to invest in capital improvements to Tintara at Canyon Creek and Hyde Park at Montfort.

October 11, 2021

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