Texas

Lee & Associates Arranges $58M Sale of Holly Hall Apartments in Houston

by Taylor Williams October 8, 2021

HOUSTON — Lee & Associates has arranged the $58 million sale of Holly Hall Apartments, a 569-unit multifamily community in Houston. The sales price equates to roughly $102,000 per unit. The property is located on an 18.5-acre site near NRG Stadium and Texas Medical Center. Units range in size from 598 to 1,354 square feet and are furnished with custom cabinetry, granite countertops and individual washers and dryers. The amenity package consists of a pool, fitness center, spa, picnic area, pet play area and a courtyard. Matthew Jacocks of Lee & Associates represented the buyer, Miami-based GDF Properties, in the transaction. The seller was Harbert Management Corp FEICA/Holly Hall LLC. Seth Denison, also with Lee & Associates, arranged acquisition financing for the deal.

October 8, 2021

Acquisitions Multifamily Texas

Praedium Group Acquires 347-Unit Norra Apartments in Lewisville, Texas

by Taylor Williams October 8, 2021

LEWISVILLE, TEXAS — The Praedium Group, a New York City-based investment firm, has acquired Norra, a 347-unit apartment community located in the northern Dallas suburb of Lewisville. The newly built property offers one-, two- and three-bedroom units that feature stainless steel appliances, quartz countertops, vinyl plank flooring and full-sized washer and dryers. Communal amenities include a pool, fitness center, clubhouse, work lounge, recreational lounge with a kitchen, dog park and a package locker system. The seller/developer of Norra was not disclosed. New York Life Real Estate Investors, a division of New York Life Insurance Co., provided acquisition financing for the deal. Information on starting rents was not disclosed.

October 8, 2021

Development Healthcare Life Sciences Office Texas

Partnership Breaks Ground on 270,000 SF Life Sciences Building in Houston

by Taylor Williams October 8, 2021

HOUSTON — A partnership between Chicago-based investment firm Harrison Street, 2ML Real Estate Interests and local developer Hines has broken ground on a 270,000-square-foot life sciences building in Houston. The building, which represents the first phase of the Levit Green mixed-use development, is located on a 53-acre site adjacent to Texas Medical Center. Additional uses at Levit Green will include retail, residential and office space. DE Harvey Builders is the general contractor for the project, which is slated for a fourth-quarter 2022 delivery. JLL is marketing the space for lease.

October 8, 2021

Acquisitions Hospitality Texas

Noble Investment Group Buys 138-Room Hyatt Place Hotel in Round Rock, Texas

by Taylor Williams October 8, 2021

ROUND ROCK, TEXAS — Atlanta-based private equity firm Noble Investment Group has purchased the Hyatt Place Austin | Round Rock, a 138-room hotel located on the northern outskirts of Austin. Built in 2017, the pet-friendly property is situated within the La Frontera mixed-use development and offers a pool, fitness center, meeting rooms and complimentary breakfast service. The seller and sales price were not disclosed.

October 8, 2021

Acquisitions Industrial Texas

CBRE Investment Management Buys 952,000 SF Industrial Property Near Fort Worth

by Taylor Williams October 7, 2021

HALTOM CITY, TEXAS — A fund sponsored by CBRE Investment Management, the entity formerly known as CBRE Global Investors, has acquired 820 Exchange, a roughly 952,000-square-foot industrial property in the Fort Worth suburb of Haltom City. Phoenix-based Creation developed the four-building property and completed it earlier this year. Two of the development’s four buildings that feature 30- to 36-foot clear heights and cross-dock/rear-load configurations were fully leased at the time of sale. All told, 820 Exchange is currently 72 percent leased to three tenants. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL represented the seller in the transaction.

October 7, 2021

Development Office Texas

Ryan Cos. to Develop 400,000 SF Office Building at Legacy West in Plano

by Taylor Williams October 7, 2021

PLANO, TEXAS — Minneapolis-based developer Ryan Cos. will build a 400,000-square-foot office building at Legacy West, a mixed-use development located on the northern outskirts of Dallas in Plano. The 24-story building will offer amenities such as a fitness center, tenant lounge, café, multiple conference rooms and open green space. Gensler is designing the project, construction of which is scheduled to begin in the first quarter of next year and to wrap up by the first quarter of 2024. The building is already 50 percent preleased to global tax services and software provider Ryan LLC, and JLL is marketing the remaining space for lease.

October 7, 2021

Acquisitions Multifamily Student Housing Texas

TSB Realty Arranges Sale of 858-Bed Student Housing Community Near UT Austin

by Taylor Williams October 7, 2021

AUSTIN, TEXAS — Pennsylvania-based TSB Realty has arranged the sale of Villas on Rio, an 858-bed student housing community located near the University of Texas in Austin. An affiliate of Blue Vista Capital Management purchased the property from Villas Student Housing for an undisclosed price. Completed in fall 2021, the property offers shared amenities including a rooftop pool with cabanas and a hot tub; a full spa with hydrotherapy pools, individual steam rooms, saunas and a meditation room; and a fitness center. TSB Capital Advisors, an affiliate of TSB Realty, secured an undisclosed amount of acquisition financing on behalf of the buyer.

October 7, 2021

Acquisitions Multifamily Texas

IPA Negotiates Sale of 233-Unit View at Belterra Apartments in Metro Austin

by Taylor Williams October 7, 2021

DRIPPING SPRINGS, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of View at Belterra, a 233-unit apartment community in Dripping Springs, a western suburb of Austin. The property was built earlier this year on eight acres within the 93-acre Belterra Village mixed-use development. Units feature one-, two- and three-bedroom floor plans with an average size of 988 square feet. Amenities include a pool, wellness center, coworking spaces, sky lounge, clubroom and kitchen and a package room with cold storage capabilities. Will Balthrope, Jordan Featherston and Kent Myers of IPA represented the seller, American Residential Group, in the transaction. Oregon-based Hayden Properties purchased the asset for an undisclosed price.

October 7, 2021

Acquisitions Industrial Texas

Westcore Acquires 210,887 SF Industrial Property in Metro Houston

by Taylor Williams October 7, 2021

BAYTOWN, TEXAS — San Diego-based investment firm Westcore has acquired a 210,887-square-foot industrial property in the eastern Houston suburb of Baytown. The newly built property, which is located within the Cedar Port Industrial Park master-planned development near Port Houston, features 32-foot clear heights, 200-foot truck court depths and an ESFR sprinkler system. Jason Tangen and Barrett Gibson of Colliers International represented the seller, metro Houston-based NIT Industrial, in the transaction. Westcore was self-represented.

October 7, 2021

Industrial Leasing Activity Texas

Pollock Orora Signs 255,704 SF Industrial Lease in Houston

by Taylor Williams October 6, 2021

HOUSTON — Pollock Orora, a provider of commercial cleaning and packaging design services, has signed a 255,704-square-foot industrial lease at Seton Lake Logistics Center, located at 14611 Tomball Parkway in Houston. According to the property website, Trammell Crow owns the building, which is situated on 16.8 acres and features 32-foot clear heights. Joel Michael of NAI Partners represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord.

October 6, 2021

Newer Posts

Older Posts