Texas

Oldham Goodwin Completes 170-Unit Phase II of Catalon at Lago Mar Apartments Near Houston

by Taylor Williams January 28, 2021

TEXAS CITY, TEXAS — Oldham Goodwin Group LLC, a real estate development and management firm based in Central Texas, has completed Phase II of Catalon at Lago Mar, a project that added 170 apartments to the supply of Texas City, located southeast of Houston. Units feature stainless steel appliances, granite countertops and full-size washers and dryers. Amenities include a pool, outdoor fitness area, dog wash station and auto detailing station. Construction of Phase II began in August 2019. Rents start at roughly $1,000 per month for a one-bedroom unit, according to Apartments.com.

January 28, 2021

Development Industrial Texas

M2G, Pennybacker Capital to Redevelop 250,000 SF Industrial Property in Dallas

by Taylor Williams January 27, 2021

DALLAS — A partnership between North Texas-based M2G Ventures and Austin-based Pennybacker Capital will redevelop a 250,000-square-foot industrial property in the West Brookhollow area of Dallas. The project will convert a 1960s-era brick warehouse on a nine-acre site into a modern industrial building that will feature 20- to 24-foot clear heights and will be marketed to light industrial and logistics users. The redeveloped property will be branded PROTO Park. Completion is slated for September. The partnership also recently purchased the former Tuesday Morning distribution center in Dallas with plans to redevelop it.

January 27, 2021

Development Multifamily Texas

Wood Partners Completes 300-Unit Alta Cathedral Lakes Apartments in Metro Houston

by Taylor Williams January 27, 2021

SPRING, TEXAS — Multifamily developer Wood Partners has completed Alta Cathedral Lakes, a 300-unit apartment community in the northern Houston suburb of Spring. Units come in one-, two- and three-bedroom floor plans and feature stainless steel appliances, granite countertops, tile backsplashes and individual washers and dryers. Amenities include a pool, fitness center, business center with coworking spaces and reserve-able conference rooms, dog park and wash, bike storage and an outdoor courtyard with a kitchen. Rents start at $1,070 per month for a one-bedroom unit, according to Apartments.com.

January 27, 2021

Acquisitions Industrial Office Texas

Welcome Group Acquires 129,085 SF Office, Industrial Complex in West Houston

by Taylor Williams January 27, 2021

HOUSTON — Welcome Group LLC, a locally based investment firm, has acquired a 129,085-square-foot office and industrial complex in West Houston. The complex consists of four office buildings and one industrial building that were constructed in 2013 and are fully leased to three tenants, including Tally Energy Services. Ryan Wassaff and John Wilson represented Welcome Group on an internal basis.

January 27, 2021

Development Office Texas

Barings, B&Z Development Top Out 701 Rio Office Project in Downtown Austin

by Taylor Williams January 27, 2021

AUSTIN, TEXAS — Barings and B&Z Development LLC have topped out 701 Rio, a 120,983-square-foot office project in downtown Austin. Construction of the building, which will offer a fitness center with showers and lockers, as well as bike storage space, began in January 2020. Completion is slated for July. Barnes Gromatzky Kosarek Architects is designing the project, and Colorado-based Hensel Phelps is the general contractor. JLL is leasing the property.

January 27, 2021

Acquisitions Multifamily Texas

NorthMarq Brokers Sale of 270-Site Manufactured Housing Community in Mission, Texas

by Taylor Williams January 27, 2021

MISSION, TEXAS — NorthMarq has brokered the sale of Circle T RV & Mobile Home Park, a 270-site manufactured housing community located in the Rio Grande Valley city of Mission. Jared Bosch, Don Vedeen and Chris Michl of NorthMarq represented the seller, Boston Road MHP Inc., and the buyer, Lewis RR Properties Ltd., in the transaction. The sales price was not disclosed.

January 27, 2021

Acquisitions Retail Texas

Triten Real Estate Partners Buys 300,000 SF Market Square Mall in Plano

by Taylor Williams January 26, 2021

PLANO, TEXAS — Triten Real Estate Partners, which has offices in Houston and Dallas, has purchased Market Square Mall, a 300,000-square-foot shopping and dining destination that is situated on 26 acres in Plano. Daniel Eng and Calvin Wong of ENGVEST represented the seller, private investor Matthew Loh, in the transaction. Dan Zeltser of SHOP Cos. represented the buyer. The new ownership will redevelop the mall, which was built in the 1980s, into a mixed-use destination. Specific details of the redevelopment plan were not disclosed.

January 26, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Negotiates Sale of Two Adjacent Apartment Complexes in Fort Worth

by Taylor Williams January 26, 2021

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of The Falls and Oak Village, two adjacent apartment complexes that are situated on a combined 22 acres in Fort Worth. The Falls was built in 1976 and totals 256 units, while Oak Village was constructed in 1980 and comprises 152 units. Amenities include two pools, soccer fields, playgrounds, dog parks, grilling areas, and onsite laundry facilities. Al Silva of Marcus & Millichap represented the seller, Florida-based GreenWater Investments, and procured the buyer, an out-of-state investment group.

January 26, 2021

Acquisitions Multifamily Texas

EB Real Estate Acquires 270-Unit Plum Meadow Apartments in South Dallas

by Taylor Williams January 26, 2021

DALLAS — New York-based EB Real Estate Group has acquired Plum Meadow, a 270-unit apartment community in South Dallas. The property features one- and two-bedroom units and amenities such as a pool, courtyard and onsite laundry facilities. Thomas Burns, Jay Gunn and William Jarnagin of Berkadia represented the seller, an affiliate of New York-based Iliad Realty Group, in the deal. Josh Finley of Berkadia originated an undisclosed amount of Freddie Mac acquisition financing on behalf of EB Real Estate Group.

January 26, 2021

Acquisitions Office Texas

Younger Partners Brokers Sale of 251,332 SF Creekview Corporate Center in Metro Dallas

by Taylor Williams January 26, 2021

RICHARDSON, TEXAS — Younger Partners has brokered the sale of Creekview Corporate Center, a two-building, 251,332-square-foot office complex located in the northeastern Dallas metro of Richardson. Scot Farber and Tom Strohbehn of Younger Partners represented the buyer, Pennsylvania-based Exeter Property Group, in the transaction. The seller was locally based owner Beltway Commercial Real Estate.

January 26, 2021

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