Texas

Westmount Realty Capital Buys 291-Unit Station at Mason Creek Apartments in Houston

by Taylor Williams January 18, 2022

HOUSTON — Dallas-based Westmount Realty Capital has purchased The Station at Mason Creek, a 291-unit apartment community in Houston. Built in 2001, the property offers one-, two- and three-bedroom units with an average size of 772 square feet. The amenity package consists of a pool with a splash pad, fitness center, coffee bar, clubhouse, business center and a dog park. The seller was not disclosed. Westmount plans to implement a value-add program to the unit interiors, building exteriors and landscaping, as well as to rebrand the property as Westmount at Mason Creek.

January 18, 2022

Acquisitions Industrial Texas

Pegasus Real Estate Acquires 271,100 SF Industrial Portfolio in Irving

by Taylor Williams January 18, 2022

IRVING, TEXAS — Pegasus Real Estate has acquired a two-property industrial portfolio totaling 271,100 square feet in Irving. The portfolio comprises a fully leased, 92,051-square-foot building and a 12-building complex that was 93 percent leased at the time of sale. The properties were built in phases between 1981 and 1999 and feature 12- to 18-foot clear heights. Stephen Bailey, Dustin Volz, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based Fort Capital, in the transaction. Dustin Dulin and Wyatt Simmons, also with JLL, arranged floating-rate acquisition financing on behalf of Pegasus Real Estate.

January 18, 2022

Acquisitions Multifamily Texas

IPA Negotiates Sale of 240-Unit Apartment Community in Metro Austin

by Taylor Williams January 18, 2022

LEANDER, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of 22 North, a 240-unit apartment community located in the northern Austin suburb of Leander. Built in 2018, the property offers one-, two- and three-bedroom units with an average size of 1,090 square feet. Amenities include a pool, fitness center, business center, grilling area and a media/game room. Will Balthrope, Kent Myers and Jordan Featherston of IPA represented the buyer and seller, both of which requested anonymity, in the transaction.

January 18, 2022

Acquisitions Industrial NAI Office Texas

NAI Partners Arranges 34,000 SF Office, Industrial Sale-Leaseback in Houston

by Taylor Williams January 18, 2022

HOUSTON — NAI Partners has arranged the sale-leaseback of a 34,000-square-foot office and industrial property in Houston. The property is located at 1515 Witte Road on the city’s west side. Cary Latham and Wyatt Huff of NAI Partners represented the seller/tenant, Allpoints Group, a provider of surveying and other advisory services for the homebuilding industry, in the transaction. The duo also secured the buyer, locally based investment firm Triten Real Estate Partners.

January 18, 2022

Acquisitions Office Texas

Regent Properties Acquires 435,000 SF Office Building in Downtown Austin

by Taylor Williams January 17, 2022

AUSTIN, TEXAS — Regent Properties, an investment and management firm headquartered in Dallas and Los Angeles, has acquired 816 Congress, a 435,000-square-foot office building in downtown Austin. The 20-story building offers amenities such as a fitness center, conference facilities and a sky lounge with a terrace. Regent plans to implement a capital improvement program that includes repositioning the lobby and courtyards, as well as the activation of roughly 12,000 square feet of retail space. The seller and sales price were not disclosed.

January 17, 2022

Development Office Texas

Billingsley Underway on 260,000 SF Headquarters, Showroom Project for At Home in Dallas

by Taylor Williams January 17, 2022

DALLAS — Locally based developer Billingsley Co. is underway on construction of a new, 260,000-square-foot headquarters campus in Dallas for home improvement retailer At Home. The property will be located within Billingsley’s Cypress Waters development and will consist of 182,000 square feet of office space and a 78,000-square-foot design center. Amenities will include training rooms, wellness facilities, coworking spaces and a barista bar. Architecture firms GFF and Corgan designed the project. Completion is slated for December. At Home, which is currently headquartered in Plano, employs a corporate staff of about 400 in Dallas and plans to expand to over 1,000 over the next 10 years. The retailer operates about 230 stores across 40 states.

January 17, 2022

Acquisitions Multifamily Texas

BHW Capital Sells 241-Unit Park at Tour 18 Apartments in Northeast Houston

by Taylor Williams January 17, 2022

HOUSTON — Houston-based developer BHW Capital has sold The Park at Tour 18, a 241-unit apartment community located on the city’s northeast side. Units at the property come in one- and two-bedroom floor plans that, according to Apartments.com, range in size from 700 to 1,198 square feet. Amenities include two pools, a fitness center, game room, dog park, indoor and outdoor grilling stations and a conference room. Dallas-based Civitas Capital acquired the asset for an undisclosed price.

January 17, 2022

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 265-Unit Apartment Community in West Fort Worth

by Taylor Williams January 17, 2022

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of The Villas at Cantamar, a 265-unit apartment community located on the west side of Fort Worth. The property features one-, two- and three-bedroom units and amenities such as two pools, a playground and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the locally based buyer and seller, both of which requested anonymity, in the transaction.

January 17, 2022

Acquisitions Retail Texas

Younger Partners Buys 96,948 SF Shopping Center in Prosper, Texas

by Taylor Williams January 17, 2022

PROSPER, TEXAS — Dallas-based Younger Partners has purchased The Shops at Prosper Trail, a 96,948-square-foot shopping center located northeast of Dallas. Shadow-anchored by Kroger, the property was built in 2016 and was 98 percent leased at the time of sale. Adam Howells and Zach Riebe of JLL represented the seller, MQ Development Co., in the transaction. Micah Ashford, Moody Younger and Kathy Permenter represented Younger Partners on an internal basis.

January 17, 2022

Acquisitions Industrial Office Texas

Cushman & Wakefield Brokers Sale of 2.3 MSF Office, Industrial Portfolio in Dallas-Fort Worth

by Taylor Williams January 14, 2022

DALLAS — Cushman & Wakefield has brokered the sale of a portfolio of 80 office and light industrial buildings totaling approximately 2.3 million square feet that are located across the Dallas-Fort Worth metroplex. About 75 percent, or 61 of the buildings totaling 1.7 million square feet, are light industrial facilities, and the remainder are office assets. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield represented the seller, locally based investment firm Momentum Commercial Realty, in the transaction. California-based CIP Real Estate purchased the portfolio for an undisclosed price.

January 14, 2022

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