DENTON, TEXAS — Dallas-based Urban Logistics Realty will develop Urban District 35, a four-building, 440,663-square-foot industrial park that will front Interstate 35 in Denton. Building features will include 28- to 32-foot clear heights, 60-foot speed bays and ample car and trailer parking. Construction is slated for a fourth-quarter completion. Dallas-based Holt Lunsford Commercial has been tapped to lease the development.
HOUSTON AND PASADENA, TEXAS — Berkadia has brokered the sale of a portfolio of four workforce housing properties totaling 1,556 units in the Houston area. The portfolio consists of the 504-unit Mosaic in the eastern suburb of Pasadena; the 364-unit Huntington Glen in Houston; the 438-unit Onyx in Houston; and the 250-unit Avenue in Houston. Joey Rippel, Chris Young, Jeffrey Skipworth, Kyle Whitney, Todd Marix and Chris Curry of Berkadia represented the seller, Austin-based GVA Real Estate Group, in the transaction. The buyer was a joint venture between Houston-based Stonewall Associates and New York-based Nord Group.
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.
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.
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.
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.
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.
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.
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.
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.