Texas

Census Bureau: Texas Claims Six of 10 Fastest-Growing Counties in Last Decade

by Taylor Williams April 6, 2020

WASHINGTON, D.C. — Six of the country’s 10 counties with the largest population gains this decade — Harris, Tarrant, Bexar, Dallas, Collin, and Travis — were in Texas, according to the U.S. Census Bureau’s July 1, 2019 population estimates, which were released in late March. The remaining four counties on the list are Maricopa County, Arizona; King County, Washington; Clark County, Nevada; and Riverside County, California. In addition, the metropolitan areas of Dallas and Houston ranked No.1 and 2, respectively, in numeric growth among major cities between 2010 and 2019, adding a combined 2.3 million people.

April 6, 2020

Lone Star Funds Buys $1.9B Majority Stake in Japanese Hotel Chain Unizo Holdings

by Taylor Williams April 6, 2020

DALLAS — Dallas-based private equity firm Lone Star Funds has acquired a $1.9 billion majority interest in Unizo Holdings Co. Ltd., a Japanese owner-operator of hotels and office buildings. Reuters initially reported the news, citing a statement from Unizo that Lone Star had purchased 86.6 percent of its outstanding shares in an open bid that began in December. According to its website, Unizo’s U.S. portfolio includes six office buildings totaling 1.6 million square feet in Washington D.C.

April 6, 2020

Texas

City of Austin Lifts Temporary Ban on Commercial, Residential Construction

by Taylor Williams April 6, 2020

AUSTIN, TEXAS — The City of Austin has lifted a temporary ban on certain construction projects in response to a new directive issued late last week by Texas Gov. Greg Abbott that deems all construction to be essential services. According to local ABC affiliate KVUE, the new guidelines on construction include additional measures designed to limit the spread of COVID-19, such as more hand-washing stations, no communal water coolers and job site pre-screening. The City of Austin’s website lists 484 cases of COVID-19 in Travis County as of Monday, April 6.

April 6, 2020

Acquisitions Industrial Texas

Stream Realty Partners Arranges Sale of 20,000 SF Industrial Property in Fort Worth

by Taylor Williams April 6, 2020

FORT WORTH, TEXAS — Stream Realty Partners has arranged the sale of a 20,000-square-foot industrial property located at 8900 Forum Way in Fort Worth. The property is situated on 3.6 acres of land and was 100 percent leased to Waples Manufacturing at the time of sale. Jamie Jennings, Andrew Rabinovich and Jeff Rein of Stream Realty Partners represented the seller, Agarita Management Co., in the transaction. The buyer was a private investor based in Fort Worth.

April 6, 2020

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 6,656 SF Retail Strip Center in Metro Houston

by Taylor Williams April 6, 2020

PASADENA, TEXAS — Marcus & Millichap has brokered the sale of Fairmont Crossing, a 6,656-square-foot retail strip center located in the eastern Houston suburb of Pasadena. Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based developer, in the transaction. The duo also procured the buyer, a local investor.

April 6, 2020

Company News Multifamily Texas

San Antonio Apartment Association Proposes Rental Assistance Program in Response to COVID-19

by Taylor Williams April 3, 2020

SAN ANTONIO — The San Antonio Apartment Association has proposed an emergency rental assistance program as a means of helping residents that are struggling to pay rent as a result of COVID-19. The organization is encouraging its members to forgive 25 percent of their outstanding rents and waive late fees for residents earning less than the area median income who can also show proof of unemployment.

April 3, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of Two Workforce Housing Communities in Metro Houston

by Taylor Williams April 3, 2020

PASADENA, TEXAS — Marcus & Millichap has arranged the sale of two workforce housing communities totaling 227 units in the eastern Houston suburb of Pasadena. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer. The new ownership will implement a value-add program.

April 3, 2020

Acquisitions Multifamily Texas

Greysteel Brokers Sale of 129-Unit Multifamily Portfolio in El Paso

by Taylor Williams April 3, 2020

EL PASO, TEXAS — Greysteel has brokered the sale of a two-property multifamily portfolio located at 525 and 670 N. Carolina Drive in El Paso. The properties were built in 1981 and feature two-bedroom units with an average size of 600 square feet. Jack Stone, Doug Banerjee and Andrew Hanson of Greysteel represented the seller and procured the buyer in the transaction. Fisher Wells and Daniel Harnett of Greysteel arranged acquisition financing for the buyer. Both parties requested anonymity.

April 3, 2020

Acquisitions Multifamily Texas

Jenkins Organization Acquires 74-Site RV Park in Austin

by Taylor Williams April 3, 2020

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based self-storage development and management firm has acquired the 74-site Austin Oaks RV Resort. The company will rebrand the community and implement a capital improvements program to the RV sites, pool, clubhouse, dog park and other common areas. The seller was not disclosed.

April 3, 2020

Acquisitions Multifamily Texas

H.G. Fenton Buys Two Multifamily Assets Totaling 70 Units in Austin

by Taylor Williams April 3, 2020

AUSTIN, TEXAS — San Diego-based investment firm H.G. Fenton Co. has purchased Casa Del Sol and Saltillo, two multifamily communities totaling 70 units in Central Austin. Both properties feature a pool and outdoor grilling areas. Muskin Commercial LLC represented the California-based seller in the transaction.

April 3, 2020

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