Texas

Matthews Brokers Sale of 396-Unit Beacon Hill Apartments in Dallas

by Taylor Williams March 9, 2020

DALLAS — Matthews Real Estate Investment Services has brokered the sale of Beacon Hill Apartments, a 396-unit multifamily community in Dallas that has since been rebranded as The Edison. Built in 1984 and remodeled in 2003, the community features one- and two-bedroom units and amenities including three pools, a racquetball court, clubroom and two laundry rooms. Pacific Team Management sold the asset to locally based investment firm WindMass Capital, which will upgrade the unit interiors, for an undisclosed price. Dan McQuaid of Matthews handled the transaction. The property was 80 percent occupied at the time of sale.

March 9, 2020

Acquisitions Multifamily Texas

SevenSeas Holdings Buys 296-Unit Terraces on the Parkway Apartments in Metro Dallas

by Taylor Williams March 9, 2020

GRAND PRAIRIE, TEXAS — SevenSeas Holdings LLC has acquired Terraces on the Parkway, a 296-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling stations, fitness center, dog park and a children’s play area. Dougherty Mortgage LLC arranged an undisclosed amount of Fannie Mae acquisition financing for the deal. The loan, which carried a 12-year term and a 30-year amortization schedule, was secured through a partnership with Old Capital Lending.

March 9, 2020

Loans Multifamily Texas

LMI Capital Arranges Two Commercial Loans Totaling $9M in Houston Area

by Taylor Williams March 9, 2020

HOUSTON AND PASADENA, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged two commercial loans totaling $9 million in the Houston area. In the first transaction, Jamie Safier of LMI Capital placed a $2.6 million, 10-year loan for the refinancing of a 50-unit multifamily asset located in the eastern suburb of Pasadena. In the second deal, Adam Pike of LMI Capital arranged a $6.4 million acquisition loan for a 105,000-square-foot office building in west Houston. The property names and borrowers were not disclosed.

March 9, 2020

Development Multifamily Oklahoma Seniors Housing Texas

HarborChase Opens New Seniors Housing Community in Oklahoma City

by Taylor Williams March 9, 2020

OKLAHOMA CITY — Developer HarborChase has completed HarborChase of South Oklahoma City, an upscale seniors housing community. The property offers assisted living and memory care services, as well as respite stays. Amenities include a full-service bistro, exhibition kitchen, bar and cocktail lounge, fitness and wellness center and a fine dining restaurant. Residents have already begun moving into the building.

March 9, 2020

Acquisitions Healthcare Texas

New Era Partners Acquires 48-Bed Oceans Behavioral Hospital in Waco

by Taylor Williams March 9, 2020

WACO, TEXAS — New Era Partners, a division of Texas-based development and investment firm New Era Cos., has acquired the 48-bed Oceans Behavioral Hospital in Waco. The newly built facility provides both inpatient and outpatient mental health treatments. New Era acquired the asset as part of a portfolio of healthcare properties that includes three behavioral hospitals that are operated by Oceans Healthcare. The Plano-based provider has about 25 behavioral health facilities in Texas, Louisiana and Mississippi. The seller was not disclosed.

March 9, 2020

Development Office Texas

Cawley Partners, Rosewood to Develop 1 MSF Office Project at Heritage Creekside in Plano

by Taylor Williams March 6, 2020

PLANO, TEXAS — Cawley Partners and Rosewood Property Co. will develop a 1 million-square-foot office project at Heritage Creekside, a 156-acre mixed-use development in Plano. The four-building project will be developed in phases and will include a central courtyard and an amenity hub. Phase I will feature a six-story, 250,000-square-foot building with a fitness center, conference center and a rooftop deck. The development team hopes to begin construction by the first quarter of 2021.

March 6, 2020

Development Multifamily Texas

KWA Construction Tops Out 390-Unit Cooper Apartments in Fort Worth

by Taylor Williams March 6, 2020

FORT WORTH, TEXAS — Locally based general contractor KWA Construction has topped out The Cooper, a 390-unit apartment project located in Fort Worth’s Medical District. Designed by architecture firm GFF and developed by Dallas-based Lang Partners, The Cooper will feature studio, one-, two- and three-bedroom units, as well as townhomes. Amenities will include a pool, fitness center with a yoga studio, outdoor grilling area, media center, clubhouse, business center and a coffee bar. Completion is slated for this fall.

March 6, 2020

Development Multifamily Texas

Allied Orion Begins Leasing 281-Unit Riverhaus Creekside Apartments Near San Antonio

by Taylor Williams March 6, 2020

NEW BRAUNFELS, TEXAS — Houston-based development and management firm Allied Orion Group has begun leasing Riverhaus Creekside, a 281-unit apartment community in the San Antonio suburb of New Braunfels. Floor plans feature one-, two- and three-bedroom units ranging in size from 722 to 1,440 square feet. Riverhaus Creekside offers amenities such as a pool, fitness center, dog park and a resident clubhouse with a cyber lounge. Move-ins are expected to begin later this month.

March 6, 2020

Development Multifamily Texas

JK & JY Development Breaks Ground on 268-Unit Residential Project in Metro Dallas

by Taylor Williams March 6, 2020

CARROLLTON, TEXAS — JK & JY Development LLC has broken ground on The View Condominiums, a 268-unit residential project in the northern Dallas suburb of Carrollton that will also include 31,000 square feet of retail and restaurant space. Designed by locally based firm Humphreys & Partners Architects, the property will offer amenities such as a pool, social lounge, fitness center, game room, business center and a fully equipped kitchen and bar. Construction is expected to be complete by early 2022.

March 6, 2020

Loans Multifamily Texas

PCCP Provides $46M Acquisition Loan for Two Newly Built Apartment Properties in Austin

by Taylor Williams March 6, 2020

AUSTIN, TEXAS — PCCP LLC has provided a $46 million acquisition loan for Indie and Candela, two adjacent apartment communities totaling 258 units in Austin. Indie was completed in mid-2018, totals 139 units and includes ground-floor retail space. Candela was completed in mid-2019 and features 119 units and various amenities on the ground floor. The seller was Transwestern Development Co. The borrower was not disclosed.

March 6, 2020

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