OKLAHOMA CITY — Tampa-based SkyView Advisors has brokered the sale of A&W Storage, a 467-unit self-storage facility located at 4800-4900 S. Sunnylane Road in Oklahoma City. The property is situated on 5.2 acres and spans 88,020 net rentable square feet. Richard Riddle, Ryan Clark and Zack Urow of SkyView Advisors represented the locally based seller in the transaction. The buyer was an undisclosed institutional investor.
HOUSTON — Seniors housing operator Civitas Senior Living and developer StoneCreek Real Estate Partners will redevelop the Copperfield Racquet & Health Club, a 98,000-square-foot seniors housing community in Houston. The new property, which will be branded StoneCreek of Copperfield, is situated on 6.6 acres and will feature 12 independent living villas, 74 assisted living units and 18 memory care units. Project partners include Pi Architects and interior design firm Senior By Design. Ground-up construction is planned to begin this month and to be complete by summer 2022.
ARLINGTON, TEXAS — Locally based developer StreetLights Residential has opened The Jackson, a 340-unit apartment community located within the Viridian master-planned development in Arlington. The property offers studio, one-, two- and three-bedroom units that range in size from 588 to 1,671 square feet and that are furnished with granite countertops, tile backsplashes, custom flooring and cabinetry and individual washers and dryers. Select units also feature private screened porches. Amenities include a lounge with coworking spaces, a fitness center with yoga and spin studios, coffee bar, pool, pet spa and a demonstration kitchen. WDG Architecture designed the project, and SLR Construction served as the general contractor. Rents start at $1,350 per month for a one-bedroom unit, according to Apartments.com.
ROUND ROCK, TEXAS — Metro Dallas-based developer RightQuest Residential has broken ground on Siena Round Rock, a 198-unit apartment community located on a 13-acre tract in the Austin suburb of Round Rock. Units will feature one- and two-bedroom floor plans with upgraded appliances, granite countertops and individual washers and dryers. Select residences will also offer private balconies or patios. Amenities will include a pool, fitness center, business center, dog park, outdoor grilling areas and a clubhouse with a media room. The first units are expected to be available for occupancy in spring 2022, with rents starting at $1,158 per month for a one-bedroom unit. Project partners include Cross Architects, civil engineering firm Kimley-Horn and general contractor Maker Bros. Construction. The Houston Group provided construction financing.
HOUSTON — Marcus & Millichap has arranged the sale of Strack Road Storage, a 577-unit facility located on the city’s northwest side. The property spans 198,005 square feet. Dave Knobler of Marcus & Millichap represented the seller, a locally based partnership, in the transaction. Knobler also secured the buyer, New York-based Merit Hill Capital.
EL PASO, TEXAS — Greysteel has brokered the sale of Cien Palmas Apartments, a 150-unit Section 8 housing property in El Paso. Built in 1971, the garden-style community is located about eight miles southeast of the downtown area and offers amenities such as a pool, playground, basketball court and onsite laundry facilities. Doug Banerjee and John Marshall Doss of Greysteel represented the seller and the buyer, both of which were private investors that requested anonymity, in the transaction.
IRVING, TEXAS — Bioworld Merchandising, a global manufacturer and distributor of licensed apparel and accessories, has signed a 123,844-square-foot industrial lease at TCC Passport Park in Irving. John Fulton, Clayton Johnson, Nora Hogan and Jordan Wade of Transwestern represented the tenant in the lease negotiations. Steve Trese and Steve Koldyke of CBRE represented the landlord, Trammell Crow Co.
AUSTIN, TEXAS — KeyBank’s Community Development Lending & Investment team has arranged a $47.6 million construction loan for Bridge at Turtle Creek, a 307-unit affordable housing project in south-central Austin. Units will consist of studio, one- and two-bedroom residences that will be reserved for renters earning between 50 and 70 percent of the area median income. The borrower, locally based developer JCI Residential, is developing the property in partnership with an affiliate of the Housing Authority of the City of Austin, which is serving as general managing partner of the development. Construction of the 4 percent low-income housing tax credit (LIHTC) project is scheduled to be complete in November 2022. Additionally, Enterprise Community Partners provided LIHTC equity for the development, and KeyBanc Capital Markets underwrote and sold $40.1 million of short-term tax-exempt bonds that were provided by Austin Housing Finance Corp. Hector Zuniga, Keven Ruf and Robbie Lynn of KeyBank originated the construction loan. Separately, KeyBank’s Commercial Mortgage Group provided a $40 million Freddie Mac forward commitment, tax-exempt loan for the project. The forward commitment period will be for 36 months. Upon conversion, the permanent loan term will be 17 years with a 40-year amortization schedule.
GEORGETOWN, TEXAS — Multifamily developer Wood Partners has broken ground on Alta Austin Avenue, a 312-unit apartment community located in the northern Austin suburb of Georgetown. Units will feature one-, two- and three-bedroom floor plans, as well as stainless steel appliances, granite countertops, tile backsplashes and full-size washers and dryers. Amenities will include a pool, fitness center, clubroom, business center, outdoor kitchen and a dog park. The opening is scheduled for this winter.
AUSTIN, TEXAS — Newmark has negotiated the sale of The Monroe, a 223-unit apartment community that is under construction in a Qualified Opportunity Zone in Austin’s East Riverside corridor. According to Apartments.com, the newly built property features one- and two-bedroom units and amenities such as a pool, outdoor grilling areas and a business center. Patton Jones of Newmark represented the seller, Dallas-based Stillwater Capital, in the transaction. New York-based JEM Holdings purchased the property for an undisclosed price.