Texas

Younger Partners Buys 77,669 SF Grocery-Anchored Shopping Center in Heath, Texas

by Taylor Williams February 15, 2021

HEATH, TEXAS — The newly launched retail investment division of Dallas-based Younger Partners has purchased Heath Town Center, a 77,669-square-foot, grocery-anchored shopping center in Heath, located northeast of Dallas. Tom Thumb is the grocery anchor at the center, which was 98 percent leased at the time of sale. Micah Ashford, Moody Younger and Kathy Permenter negotiated the deal internally for Younger Partners. Adam Howells and Barry Brown of JLL represented the seller, Malouf Interests Inc.

February 15, 2021

Acquisitions Multifamily Seniors Housing Texas

SLIB Brokers Sale of 167-Unit Seniors Housing Portfolio in El Paso

by Taylor Williams February 15, 2021

EL PASO, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of SunRidge of Cambria, Cielo Vista and Desert Springs, three seniors housing communities in El Paso totaling 167 units. The assisted living and memory care communities were built in 1995, 1998 and 2000 and maintained 89 percent, 87 percent and 90 percent occupancy, respectively, at the onset of the COVID-19 pandemic. The seller is a debt and equity capital provider looking to divest of a non-core market, while the buyer is a local owner-operator. Ryan Saul and Matthew Alley of SLIB represented the seller in the deal.

February 15, 2021

Development Multifamily Texas

ZOM Living to Develop 398-Unit Hazel by the Galleria Apartments in Dallas

by Taylor Williams February 12, 2021

DALLAS — Orlando-based ZOM Living will develop Hazel by the Galleria, a 398-unit apartment community that will be located on 3.5 acres at the corner of Noel Road and Interstate 635 in the Galleria area of Dallas. Amenities at Hazel by the Galleria will include a 3,000-square-foot coworking space with lounges, private offices and a coffee bar, a fitness center with saunas and a relaxation lounge, an outdoor pool with surrounding grilling stations and fire pits, an entertainment lounge with bar areas, pet spa and a package room. LRK is the project architect, and CBG Building Co. is the general contractor. Construction is scheduled to begin this month and to be complete in the second quarter of 2023.

February 12, 2021

Acquisitions Multifamily Texas

Stream Realty Partners Brokers Sale of 235,400 SF Lanark Distribution Center in Northeast San Antonio

by Taylor Williams February 12, 2021

SAN ANTONIO — Stream Realty Partners has brokered the sale of Lanark Distribution Center, a 235,400-square-foot industrial property situated on 10 acres in northeast San Antonio. The two-building property was built in 1982 and renovated in 2004, according to LoopNet Inc., and was 97 percent leased at the time of sale. Jamie Jennings, Andrew Rabinovich, Kevin Cosgrove and Walter Simpson of Stream Realty Partners represented the seller, a private partnership, in the transaction. The buyer and sales price were not disclosed.

February 12, 2021

Acquisitions Multifamily Texas

29th Street Capital Acquires 254-Unit Multifamily Community in Metro Houston

by Taylor Williams February 12, 2021

THE WOODLANDS, TEXAS — Chicago-based investment firm 29th Street Capital has acquired Avana Sterling Ridge Apartments, a 254-unit multifamily community located north of Houston in The Woodlands. According to Apartments.com, the property features one-, two- and three-bedroom units and a pool, fitness center, media center and a game room. The new ownership plans to rebrand the Class B property, implement a limited interior renovation package and improve the property’s exterior, clubhouse and amenity spaces. The seller and sales price were not disclosed.

February 12, 2021

Civic Development Texas

Adolfson & Peterson Completes 100,431 SF Elementary School in Haslet, Texas

by Taylor Williams February 12, 2021

HASLET, TEXAS — General contractor Adolfson & Peterson Construction has completed Haslet Elementary School, a 100,431-square-foot institution that will be located outside Fort Worth and that will be part of the Northwest Independent School District. The school, which has the capacity to enroll 850 students, features an open concept library, learning pods with classrooms and collaborative spaces. Austin-based Huckabee designed the project, construction of which began in summer 2019.

February 12, 2021

Development Multifamily Seniors Housing Texas

Civitas, Journey Capital Break Ground on 121-Unit Seniors Housing Project in Aledo, Texas

by Taylor Williams February 12, 2021

ALEDO, TEXAS — Civitas Senior Living and Journey Capital, a senior housing development company, have broken ground on Harvest of Aledo Senior Living, a 121-unit project located approximately 20 miles west of Fort Worth in Aledo. The 68,000-square-foot property will consist of 20 independent living residences, 67 assisted living units and 24 memory care units. Other project partners include Arrive Architects, Ridgemont Construction and Senior By Design. Completion is scheduled for fall 2022.

February 12, 2021

Development Multifamily Texas Top Stories

ZOM Living Completes 41-Story Atelier Multifamily Tower in Dallas Arts District

by Jeff Shaw February 12, 2021

DALLAS — ZOM Living has completed construction of Atelier, a 41-story apartment tower in the Dallas Arts District. The property features 417 luxury multifamily units, including 53 lofts, near Klyde Warren Park. Units range from 500 to 2,300 square feet with panoramic views of uptown and downtown Dallas. The property also features two levels of underground parking and 15,000 square feet of retail space, with CBRE handling the retail leasing. The location is walking distance from the AT&T Performing Arts Center, Dallas Museum of Art, Crow Museum of Asian Art and Nasher Sculpture Center. Atelier’s main lobby is designed as an art gallery and the tower features resort-style amenities, including an expansive amenity deck with infinity edge pool and sun deck, custom cabanas, yoga lawn, outdoor lounge with grilling area for al fresco dining, a bar and a fire pit. Interior amenities include a fitness area, coworking space with private conference rooms, private wine lockers, entertainment lounge, catering kitchen with harvest table, grab-n-go resident market and a pet spa. Stantec was the architect on the project, which general contractor Balfour Beatty built. ZRS Management, an affiliate of ZOM, is managing the community. Orlando-based ZOM is developing heavily in the Dallas …

February 12, 2021

Company News Multifamily Student Housing Texas Walker & Dunlop

Walker & Dunlop Acquires Austin-Based FourPoint Investment Sales Partners

by Taylor Williams February 11, 2021

AUSTIN, TEXAS — Walker & Dunlop has acquired FourPoint Investment Sales Partners, an Austin-based brokerage firm specializing in student housing and traditional multifamily properties. The FourPoint team of Chris Epp, Chis Bancroft, Kevin Dufour, Matthew Chase, Craig Miller and Kyle Peco will lead and scale Walker & Dunlop’s student housing investment sales division, with a goal of growing sales volume to $25 billion by 2025 for the Maryland-based company. The two firms have partnered as correspondents on student housing deals in the past.

February 11, 2021

Acquisitions Multifamily Texas

Berkadia Arranges Sale of 414-Unit Stewart Creek Apartments in Frisco

by Taylor Williams February 11, 2021

FRISCO, TEXAS — Berkadia has arranged the sale of Stewart Creek Apartments, a 414-unit multifamily community in Frisco. Built in 1999, the property features one-, two- and three-bedroom units with quartz countertops, walk-in closets and private balconies/patios. Amenities include a business center, clubhouse, package lockers, picnic area and a bark park. Jay Gunn, Tom Burns and Will Jarnagin of Berkadia represented the seller, Plano-based Univesco Inc., in the transaction. In addition, Jason Rice and Chris Pollard of Berkadia arranged floating-rate acquisition financing through Varde Mortgage Capital on behalf of the sponsor, Lubbock-based Madera Residential.

February 11, 2021

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