Texas

Cushman & Wakefield Arranges Sale of 464,722 SF Alamo Ranch Shopping Center in San Antonio

by Taylor Williams September 15, 2021

SAN ANTONIO — Cushman & Wakefield has arranged the sale of Alamo Ranch, a 464,722-square-foot retail power center in San Antonio. Tenants include Best Buy, Dick’s Sporting Goods, Ross Dress for Less, Marshalls, Michaels, Ulta Beauty, PetSmart and OfficeMax. In addition, Super Target, Lowe’s Home Improvement and J.C. Penney shadow-anchor the center. Margaret Jones, Lane Breedlove, Chris Harden and Kris Von Hohn of Cushman & Wakefield brokered the deal on behalf of the undisclosed seller. Big V Property Group acquired Alamo Ranch for an undisclosed price.

September 15, 2021

Acquisitions Multifamily Texas

Buchanan Street Acquires 294-Unit Apartment Community in Dallas Arts District

by Taylor Williams September 15, 2021

DALLAS — California-based investment firm Buchanan Street Partners has acquired 4600 Ross, a 294-unit apartment community located in the Dallas Arts District. Built in 2020, the property’s unit mix consists of 51 studios, 166 one-bedroom units and 72 two-bedroom apartments, as well as five three-bedroom townhomes. Amenities include a pool, fitness center, sky lounge, pet park and a package locker system. The property was 95 percent occupied at the time of sale. The seller and sales price were not disclosed.

September 15, 2021

Loans Lument Multifamily Texas

Lument Provides $32.3M Acquisition Loan for Metro Houston Multifamily Community

by Taylor Williams September 15, 2021

PORTER, TEXAS — Lument has provided a $32.3 million bridge loan for the acquisition of Villas at Valley Ranch, a 312-unit apartment community located in the northeastern Houston suburb of Porter. Units feature one- and two-bedroom floor plans, and amenities include a pool, clubhouse, fitness center, conference room and a theater room. The loan carried a fixed interest rate and a three-year term. The borrower, San Antonio-based investment firm LYND Co., will use a portion of the proceeds to fund capital improvements. Marc Suarez of Lument led the transaction.

September 15, 2021

Acquisitions Industrial NAI Texas

NAI Partners Brokers Sale of 30,000 SF Industrial Building in North Houston

by Taylor Williams September 15, 2021

HOUSTON — NAI Partners has brokered the sale of a 30,000-square-foot industrial building within International Crossing Business Park in North Houston. The four-building development totals 90,750 square feet. Clay Pritchett and Zane Carman of NAI Partners represented the seller, TNRG Development, which has now sold all four buildings in the park, in the transaction. The name and representative of the buyer were not disclosed.

September 15, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of Rio Vista Apartments in Metro Fort Worth

by Taylor Williams September 14, 2021

HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Rio Vista, a 246-unit apartment community located in the northeast Fort Worth suburb of Haltom City. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Greenwater Investments, and procured the buyer, an unnamed investment firm based in California. Built in 1968, Rio Vista’s apartments feature one- and two-bedroom floor plans that range in size between 684 and 1,016 square feet, according to Apartments.com. Communal amenities include two resort-style pools, a courtyard, playground, dog park and a soccer field. Greenwater invested approximately $4 million to renovate Rio Vista prior to the sale.

September 14, 2021

Acquisitions Multifamily Texas

Walton Street Capital Acquires 180-Unit Multifamily Community in Dallas

by Taylor Williams September 14, 2021

DALLAS — An affiliate of Chicago-based Walton Street Capital LLC has purchased The Gentry on M Streets, a 180-unit apartment community located in the Lower Greenville neighborhood of Dallas. The seller and sales price were not disclosed. Built in 2015, Gentry features a mix of studio, one- and two-bedroom units that were 97 percent occupied at the time of sale. Interiors include granite countertops, stainless steel appliances, in-unit washers and dryers and balconies or private yards for select units. Community amenities include an outdoor kitchen and lounge, resort-style pool, 24-hour fitness center and a conference room. Located at 3736 Glencoe St., Gentry is located adjacent to Southern Methodist University and features direct access to Glencoe Park and the Katy Trail.

September 14, 2021

Acquisitions Industrial Texas

Colliers Arranges Sale of 60,500 SF Industrial Flex Property in Burleson, Texas

by Taylor Williams September 14, 2021

BURLESON, TEXAS — Colliers International has arranged the sale of Weatherby Business Park, a 60,500-square-foot industrial flex property located in the Fort Worth suburb of Burleson. The property was built in 2008 and was fully leased at the time of sale. Cody Payne, Austin Edelmon and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity.

September 14, 2021

Industrial Leasing Activity Texas

Arrive Logistics Signs Industrial Lease Extension, Expansion at MetCenter in Austin

by Taylor Williams September 14, 2021

AUSTIN, TEXAS — Arrive Logistics, a locally based freight brokerage firm, has signed a lease extension and expansion at MetCenter Business Park in Austin. The privately held company renewed its 78,000 square feet of space within Buildings 14 and 15 at MetCenter and also leased an additional 38,000 square feet within Building 15. Other tenants at MetCenter, which is owned by Dallas-based Mohr Capital, include Amazon, Ascension Seton, Texas Health & Human Services Commission and Power Home Remodeling.

September 14, 2021

Acquisitions Hospitality Texas

NewcrestImage Acquires 164-Room Sinclair Hotel in Downtown Fort Worth

by Taylor Williams September 14, 2021

FORT WORTH, TEXAS — Locally based hospitality investment firm NewcrestImage has acquired the 164-room Sinclair Hotel in downtown Fort Worth. The 17-story luxury property is part of the Marriott Autograph Collection of hotel brands and features multiple food and beverage concepts. The seller and sales price were not disclosed.

September 14, 2021

Sky-Landing-Apartments-White-Settlement-Texas

Market Reports Multifamily Texas Texas Market Reports

Dallas Multifamily Market Sets Pace for National Recovery

by Taylor Williams September 14, 2021

By Jon Krebbs, managing director, The Multifamily Group The COVID-19 crisis has certainly had a heavy impact on many sectors of the economy; however, the multifamily sector still has had a triumphant year. The Dallas apartment sector has maintained healthy occupancy in 2021, and the investment side of the market is picking up due to buyers having constrained capital during the height of the public health crisis in 2020. Dallas-Fort Worth (DFW) has benefited from major corporate relocations since the 1980s. Over the last decade, corporate interest has expanded and that brought multiple Fortune 500 companies’ headquarters to the region due to its pro-business conditions. It is no wonder why the market is on the radar of C-suite leaders and governing boards — its favorable workforce, affordable cost of housing, lack of state income tax and steady supply of new apartment buildings are all factors. Simply put, apartment investors regard DFW as an opportunity for growth. Between 2019 to 2020, approximately 120,000 people from outside the metroplex have been added to the local population. This number has substantially increased over the last two years due to COVID-19. Market Overview The Dallas multifamily market has been hot for the last seven …

September 14, 2021

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