Texas

Wood Partners Opens 225-Unit Alta Spring Creek Apartments in Metro Dallas

by Taylor Williams September 21, 2020

GARLAND, TEXAS — Multifamily developer Wood Partners has opened Alta Spring Creek, a 225-unit apartment community in the northeastern Dallas suburb of Garland. The Class A property is located near the regional headquarters of State Farm Insurance and Raytheon and features studio, one- and two-bedroom units with stainless steel appliances, granite countertops, upgraded fixtures and private yards. Amenities include a pool, fitness center and outdoor grilling areas. Rents start at approximately $1,150 per month for a one-bedroom unit, according to apartments.com.

September 21, 2020

Acquisitions Office Texas

Generational Commercial Sells 50,480 SF Riata Crossing 6 Office Building in Austin

by Taylor Williams September 21, 2020

AUSTIN, TEXAS — Locally based developer Generational Commercial Properties has sold Riata Crossing 6, a 50,480-square-foot office building located at 12544 Riata Vista Circle, adjacent to Apple’s existing campus in Austin. Studio 8 Architects designed the project, and Zapalac Reed served as the general contractor. Bethany Perez, Bart Matheney and Chad Barrett of AQUILA Commercial represented Generational Commercial Properties in the transaction. Lance Morris of The Retail Connection represented the buyer, Greater Texas Federal Credit Union.

September 21, 2020

Acquisitions Multifamily Texas

Greystar Buys 528-Unit Regency Park Apartments in South Austin

by Taylor Williams September 18, 2020

AUSTIN, TEXAS — Greystar has purchased Regency Park, a 528-unit apartment community in South Austin. According to rentcafé.com, the property features one-bedroom units with designer cabinetry and countertops and individual washers and dryers. Amenities include two pools, a fitness center, business center, dog park, sand volleyball court and a resident clubroom with billiards and a TV lounge. Patton Jones of Newmark Knight Frank arranged the sale of the community from a Florida-based private investment group to Charleston, S.C.-based Greystar.

September 18, 2020

Development Multifamily Student Housing Texas

Lincoln Ventures Completes 18-Story Student Housing Community Near UT Austin

by Taylor Williams September 18, 2020

AUSTIN, TEXAS — Lincoln Ventures has completed the development of Moontower, an 18-story student housing community located about a mile from the University of Texas at Austin. The property offers one-, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include a rooftop pool and lounge, a study lounge with individual study rooms, a fitness center, yoga and spin studio, coffee bar and 24-hour package concierge. The community’s development team included interior designer Chelsea Kloss Interiors, contractor JE Dunn and architect Gensler.

September 18, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 279-Unit Self-Storage Facility in Houston

by Taylor Williams September 18, 2020

HOUSTON — Marcus & Millichap has brokered the sale of Big Space Storage, a 279-unit self-storage facility in Houston. The property was built in 2016 and spans 137,760 net rentable square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.

September 18, 2020

Acquisitions Multifamily Texas

Rosewood Realty Arranges Sale of 260-Unit Cottonwood Creek Apartments in Waco

by Taylor Williams September 18, 2020

WACO, TEXAS — New York City-based Rosewood Realty Group has arranged the sale of Cottonwood Creek Apartments, a 260-unit multifamily community in Waco. The property features one-, two- and three-bedroom units with designer finishes, walk-in closets, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling area and a pet playground. Jonathan Brody of Rosewood Realty represented the seller, Continental Properties, and procured the buyer, Borei Olam Management. The sales price was not disclosed.

September 18, 2020

Affordable Housing Loans Multifamily Texas

Bellwether Provides $32.6M Agency Loan for Austin Affordable Housing Project

by Taylor Williams September 18, 2020

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $32.6 million Freddie Mac permanent loan for the construction of Austin Colorado Creek, a 240-unit affordable housing project at 2917 Falwell Lane on the city’s east side. The property will offers one-, two-, three- and four-bedroom units and amenities such as a pool, clubhouse, business center and a playground. A majority of the units (192) will be reserved for renters earning 60 percent or less of the area median income (AMI) and 48 will be reserved for renters earning 50 percent or less of AMI. Phil Melton and Cindy Hannon of Bellwether originated the financing. The borrower was not disclosed.

September 18, 2020

Affordable Housing Development Loans Multifamily Texas

Bellwether Provides $42.6M Agency Perm Loan for Affordable Housing Project in Austin

by Taylor Williams September 17, 2020

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $42.6 million Freddie Mac permanent loan for the construction of Austin Manor, a 280-unit affordable housing project in East Austin. All of the units will be reserved for renters earning 60 percent or less of the area median income. Austin Manor will offer amenities such as a 6,000-square-foot clubhouse, pool, sports court and a playground, as well as family support services including counseling, adult education, health and nutrition courses and youth programs. Phil Melton and Cindy Hannon of Bellwether originated the loan. The borrower was not disclosed.

September 17, 2020

Development Multifamily Texas

Allied Orion Nears Completion of 360-Unit Southbrook Multifamily Project in Metro Austin

by Taylor Williams September 17, 2020

LEANDER, TEXAS — Allied Orion Group is nearing completion of The Southbrook, a 360-unit multifamily project that will be located in the northern Austin suburb of Leander. Designed by Dallas-based Humphreys & Partners Architects, the property will offer one, two- and three-bedroom floor plans and amenities such as a pool, fitness center, resident lounge with billiards tables, dog park, courtyard and package delivery services. The first units are expected to be available for occupancy in the fourth quarter.

September 17, 2020

Industrial Leasing Activity Texas

Stream Realty Partners Negotiates 203,040 SF Industrial Lease in Mesquite, Texas

by Taylor Williams September 17, 2020

MESQUITE, TEXAS — Stream Realty Partners has negotiated a 203,040-square-foot industrial lease at Urban District 30 in the eastern Dallas suburb of Mesquite. For the tenant, online light bulb retailer 1000Bulbs.com, the lease represents an expansion of 60 percent of its previous warehouse capacity. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Urban Logistics Realty, in the lease negotiations. Blake Kendrick and Seth Koschak, also with Stream Realty Partners, represented the tenant. At full completion, which is slated for the fourth quarter, Urban District 30 will total approximately 977,000 square feet across five buildings.

September 17, 2020

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