Texas

IPA Arranges Sale of 120-Unit Mosaic on Broadway Apartments in San Antonio

by Taylor Williams October 4, 2021

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Mosaic on Broadway, a 120-unit apartment complex that is located adjacent to the Pearl Brewery development in San Antonio. The property was built in 2013 and includes 15,593 square feet of retail space that is fully leased. In addition, Mosaic on Broadway offers a rooftop pool, spa and outdoor grilling area, along with a 24-hour fitness center, a resident lounge with media zone, coffee bar, mail center and a fenced-in dog park. Will Balthrope and Drew Garza of IPA represented the seller, Broadway Developments, in the transaction. The duo also procured the buyer, Moody National Cos.

October 4, 2021

Acquisitions Multifamily Texas

The Multifamily Group Negotiates Sale of 107-Unit Community in Arlington

by Taylor Williams October 4, 2021

ARLINGTON, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Oaks of Arlington, a 107-unit community located about 1.5 miles from AT&T Stadium and Globe Life Field. According to Apartments.com, the property was built in 1984 and offers one- and two-bedroom units ranging in size from 502 to 1,184 square feet. Jon Krebbs of TMG represented the seller and the Chicago-based buyer, both of which requested anonymity, in the transaction.

October 4, 2021

Industrial Leasing Activity Texas

Newmark Secures 89,060 SF Industrial Lease Extension in Houston

by Taylor Williams October 4, 2021

DESOTO, TEXAS — Newmark has secured an 89,060-square-foot industrial lease extension at 10634 Tanner Road in Houston. According to LoopNet Inc., the property was built in 2015 and spans 214,811 square feet. Rob Stillwell, Si Pitstick and Josh Young of Newmark represented the tenant, Ohio-based wholesaler TSC Apparel LLC, in the lease negotiations. JLL represented the landlord, an entity doing business as WPT Apex DCLP.

October 4, 2021

Acquisitions Multifamily Texas

Terrain Capital Buys 326-Unit Haven at Westover Hills Apartments in San Antonio

by Taylor Williams October 1, 2021

SAN ANTONIO — Terrain Capital Partners has purchased Haven at Westover Hills, a 326-unit apartment community located on San Antonio’s west side. Constructed in 2005 on 24 acres, the garden-style property’s amenities include a resort-style pool with sundeck and heated spa, fitness center, sand volleyball court, playground and a massage room. The average unit size is 1,010 square feet. Will Balthrope and Drew Garza of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, Flournoy Development Co., and procured the buyer in the transaction.

October 1, 2021

Acquisitions Multifamily Texas

Cushman & Wakefield Brokers Sale of 200-Unit Multifamily Property in North Austin

by Taylor Williams October 1, 2021

AUSTIN, TEXAS — Cushman & Wakefield has brokered the sale of The Plaza at Windsor Hills, a 200-unit multifamily property in North Austin. Built in 1983 and recently updated, the property features an amenity package that includes a pool, courtyard, bark park, clubhouse, outdoor grilling area, playground and a business center. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Miami-based One Real Estate Investment, in the transaction. The buyer was Comunidad Partners.

October 1, 2021

Industrial Leasing Activity Texas

Louis Vuitton North America Signs 211,100 SF Industrial Lease Near Fort Worth

by Taylor Williams October 1, 2021

COPPELL, TEXAS — Louis Vuitton North America Inc. has signed a 211,100-square-foot industrial lease at 220 Freeport in the Fort Worth suburb of Coppell. Blake Anderson, Tom Carragher, Adam Petrillo, Al Petrillo, Craig Engelhardt, Jeff Cannon, Chris Koeck and Steve Korfiatis of Newmark represented the tenant in the lease negotiations. Transwestern represented the landlord, Prologis.

October 1, 2021

Acquisitions Retail Texas

Weitzman Arranges Sale of 74,837 SF Shops at Vista Ridge Retail Center in Metro Dallas

by Taylor Williams October 1, 2021

LEWISVILLE, TEXAS — Weitzman has arranged the sale of The Shops at Vista Ridge, a 74,837-square-foot retail center located in the northern Dallas suburb of Lewisville. Texas Family Fitness and Harbor Freight Tools are the center’s anchor tenants, and other users include Salons by JC, McAlister’s Deli, Smoothie King and Hobbytown USA. Matthew Rosenfeld, Kevin Butkus and Giovanni Scardino of Weitzman handled negotiations on behalf of the seller, a partnership between New Jersey-based Lamar Cos. and Colorado-based Real Capital Solutions. The buyer was an undisclosed, locally based investment group.

October 1, 2021

Development Hospitality Texas

Esperanto Developments to Open 103-Room Hotel Indigo in Metro Houston in November

by Taylor Williams October 1, 2021

SPRING, TEXAS — Esperanto Developments, an El Paso-based hospitality firm, will open the 103-room Hotel Indigo in Spring, a northern suburb of Houston, on Nov. 17. The four-story property includes four suites and amenities such as a pool, fitness center and a business center. In terms of food and beverage, Hotel Indigo offers a sit-down restaurant, room service, a grab-and-go bar and a poolside bar.

October 1, 2021

Acquisitions Multifamily Texas

Nitya Capital Acquires 2,555-Unit Multifamily Portfolio in Dallas-Fort Worth from Raven Multifamily

by Taylor Williams September 30, 2021

HOUSTON — Houston-based investment firm Nitya Capital has acquired a portfolio of nine multifamily properties totaling 2,555 units that are located in six different cities within the Dallas-Fort Worth (DFW) metroplex. Nitya Capital, which acquired the portfolio from locally based investment firm Raven Multifamily, plans to upgrade the properties with about $15 million in capital improvements to unit interiors and amenity spaces. Taylor Snoddy, James Roberts and Phillip Wiegand of NorthMarq brokered the sale. Steve Whitehead and William Hancock, also with NorthMarq, arranged an undisclosed amount of floating-rate acquisition financing on behalf of the new ownership.

September 30, 2021

Acquisitions Retail Texas

NewQuest Properties Brokers Sale of 186,880 SF Shopping Center in El Paso

by Taylor Williams September 30, 2021

EL PASO, TEXAS — Houston-based NewQuest Properties has brokered the sale of Sunrise Village Center, a 186,880-square-foot shopping center located near Fort Bliss in El Paso. Sunrise Village Center was originally built in 1957 and was 44 percent leased at the time of sale. Current tenants include Dollar General, Sally’s Beauty Supply and Black Fridays Daily Discount Store. The buyer, which plans to redevelop the property, was a Houston-based private investor doing business as JMK5 Holdings LLC. The seller was a family trust and original owner of the property. David Luther, Kelley Workman and Dakota Workman of NewQuest represented both parties in the deal.

September 30, 2021

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