DALLAS — Dallas-based Rosewood Property Co. has acquired a portfolio of 16 self-storage facilities totaling approximately 1.3 million net rentable square feet across roughly 12,000 units. The locations of the properties are split among 12 states, with three facilities in Texas. Aaron Swerdlin, Kenneth Cox and Taucha Hogue of Newmark represented the seller, Utah-based REIT Extra Space Storage, in the transaction. Jim Davies, Erich Pryor and Tom Sherlock of Talonvest Capital represented Rosewood Property Co. Extra Space Storage will continue to manage the majority of the properties. The acquisition brings Rosewood’s self-storage portfolio to 73 facilities across 21 states totaling more than 5.8 million square feet and approximately 44,500 units.
DALLAS — A partnership between locally based development and investment firm Eider Creek Capital and a fund backed by Crow Holdings has broken ground on Mountain Creek East Logistics Center, a 467,541-square-foot speculative industrial project in southwest Dallas. Ricardo Quinones of Davidson Bogel Real Estate represented the development team in its acquisition of the four-parcel, 25-acre site on which the project will be developed. Completion is slated for August. CBRE has been tapped to lease the development.
SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of a trio of multifamily properties in San Antonio. Hidden Village is a 176-unit property that was built in 1965 and features an average unit size of 676 square feet. Montrose Place was built in 1960 and totals 72 units that average 611 square feet, and The Dunes was built in 1975 and totals 119 units that average 622 square feet. Chris Siemasko, Paul Yazbeck, Jon Krebbs and Bryce Smith of TMG brokered the deal. The buyer(s) and seller(s) were not disclosed.
AUSTIN, TEXAS — Locally based developer OHT Partners will soon break ground on Lenox Grand, a 315-unit apartment community that will be located on a 16.4-acre site at 13505 Burnet Road in North Austin. Designed by Davies Collaborative, Lenox Grand will feature one-, two- and three-bedroom units and amenities such as two pools, a shared work studio, dog park, walking trails and a pickleball court. The property will also offer proximity to The Domain mixed-use development and the offices of major employers such as Apple, Amazon, Facebook and 3M. Completion is slated for 2023.
ROSENBERG, TEXAS — Berkadia has negotiated the sale of Town Center Lofts, a 309-unit apartment community in the southwestern Houston suburb of Rosenberg. Developed in 2021 by Sueba USA, the property offers studio, one- and two-bedroom units ranging in size from 560 to 1,207 square feet. Amenities include two pools, a 24-hour fitness center, a community clubroom with a chef-inspired kitchen and package lockers. Jeffrey Skipworth, Todd Marix, Chris Curry, Joey Rippel, Chris Young and Kyle Whitney of Berkadia represented Sueba USA in the sale. A joint venture between Chicago-based Redwood Capital Group and global investment management firm Heitman purchased the asset for an undisclosed price.
FORT WORTH, TEXAS — Nebraska-based investment and development firm Goldenrod Cos. will build a new mixed-use project in Fort Worth’s West Seventh District that will consist of 147 multifamily units, 99,400 square feet of office space and 11,600 square feet of retail and restaurant space. Known as The Van Zandt, the development will include the first speculative office project built in Fort Worth since 2017. Residential amenities will include a pool and a fitness center, as well as indoor and outdoor lounges and meeting areas. Construction is slated to begin during the first quarter. Stream Realty Partners has been tapped to lease the office space.
HOUSTON — DLP Capital, a Florida-based investment and finance firm, has provided $74 million in acquisition financing for two Houston-area apartment complexes totaling 1,062 units. Palms at Westheimer totals 798 units and is located on the city’s west side, while Huntington at Stonefield spans 264 units and is located on the city’s north side. The borrower was locally based investment firm Kalkan Capital. The seller was not disclosed.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Meadow Ridge, a 484-unit apartment community in Fort Worth. Built on 24 acres in 1981, Meadow Ridge offers one-, two- and three-bedroom units with private balconies/patios, as well as two pools and a tennis court. Al Silva of Marcus & Millichap represented the seller, Lubbock-based Madera Residential, in the transaction and procured the buyer, a Dallas-based private investment company. The new ownership plans to implement a value-add program.
PFLUGERVILLE, TEXAS — Alabama-based LIV Development has acquired 30 acres in the northern Austin suburb of Pflugerville for the development of a 463-unit residential project that will include both single-family and multifamily residences. Ben Fuller and John Carr of Cushman & Wakefield represented the seller, Austin-Pecan Ventures LLC, in the sale of the land. Construction is scheduled to begin in the second quarter.
SAN ANTONIO — Cushman & Wakefield has brokered the sale of Sonterra Medical Park, a 117,597-square-foot healthcare property in San Antonio. The three-building complex is located adjacent to North Central Baptist Hospital on the city’s north side. Travis Ives, Gino Lollio, Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield represented the seller, Stream Realty Partners, in the transaction. The buyer and sales price were not disclosed. At the time of sale, Sonterra Medical Park was 93 percent leased to tenants in the oncology, radiology and orthopedics sectors.