DALLAS — G.W. Floyd Ventures LLC has acquired Switzer Business Park, a 123,000-square-foot development featuring a mix of office, industrial and flex spaces in northeast Dallas. Brian Pafford and Jason Finch of Bradford Commercial Real Estate Services represented the seller, a California-based partnership that is exiting the Texas market. Bradford will continue to lease the property, which houses more than 60 tenants, on behalf of the new ownership.
SAN ANTONIO — Orlando-based Capstone Manufactured Housing has arranged the sale of Crescent Place, a 319-site manufactured housing asset located on 60 acres in San Antonio. Amenities include a swimming pool, clubhouse, basketball court, playground and a dog park. Ian Hilpl, Kevan Enger and Brian Hummell of Capstone represented the seller, a private investor, in the sale.
FORT WORTH, TEXAS — Cantrell Co. & Partners has brokered the sale of Antiqua Village, a 152-unit multifamily community in southeast Fort Worth. The property was 93.5 percent occupied at the time of sale. Sam Pettigrew of Cantrell represented the seller, Republic Village LP. The buyer of record is M&D Antiqua Village LLC, a Texas-based entity.
HOUSTON — Caydon, an Australian development firm, has opened Drewery Place, a $200 million multifamily community in Houston. The property features 357 units in micro, studio, junior, one-bedroom and two-bedroom formats. Amenities include a pool, fitness center, dog park, conference room and whiskey bar. Drewery Place represents the first phase of Laneways, Caydon’s mixed-use development that is inspired by the streets of Melbourne.
AUSTIN, TEXAS — Miami-based One Real Estate Investment has purchased Mira Vista Apartments, a 200-unit multifamily community in Austin’s Windsor Hills neighborhood. The community was built in 1983 and was 97 percent occupied at the time of sale. Mira Vista is a garden-style community composed of 32 one-bedroom units and 168 two-bedroom units ranging from 650 square feet to 960 square feet. Amenities include a pool, clubhouse, community grill area, courtyard, playground, sauna, pool with sundeck and a resident business center with internet access. Brad Williamson of Berkadia secured a $15.1 million fixed-rate acquisition loan that carries a 3.24 percent interest rate and five years of interest-only payments for the deal. Noam Franklin, Chinmay Bhatt and Cody Kirkpatrick of Berkadia delivered a publicly traded REIT as an equity partner for One Real Estate.
MINEOLA, TEXAS — Marcus & Millichap has brokered the sale of KeepIt Mini Storage, a 509-unit self-storage facility in Mineola, about 80 miles east of Dallas. Built in phases between 1994 and 2017, the property comprises 116 climate-controlled units, 393 non-climate-controlled units, four uncovered parking spaces and a 1,800-square-foot business center that can be rented out on a per-day basis. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and developer in the transaction, and procured the 1031 exchange buyer.
GRAND PRAIRIE, TEXAS — Venture Commercial Real Estate has arranged the sale of a 58,515-square-foot retail property formerly occupied by Albertson’s grocery store in Grand Prairie, located roughly midway between Dallas and Fort Worth. John Zikos and Charlotte Cooper represented the seller in the transaction. Sean Porter with Capstone Commercial Real Estate Group Inc. represented the buyer. Both parties requested anonymity.
AUSTIN, TEXAS — Locally based investment firm Rastegar Property has acquired a 36-unit multifamily community located at 902 Romeria Drive in the Brentwood area of Austin. Units at the property average 490 square feet. Rastegar plans to fully renovate the property with new flooring, tile, cabinets, countertops, stainless steel appliances, interior and exterior paint, windows, siding, roofs, landscaping and covered parking.
SAN ANTONIO — Developers KDC and Weston Urban have completed the 460,000-square-foot Frost Tower in downtown San Antonio. Construction of the 23-story building, which the developers say represents the biggest office project delivered in downtown San Antonio in 30 years, began in March 2017. Tenants have started moving in, and include JPMorgan Chase, State Farm and Toyota. Pelli Clarke Pelli served as the design architect. Kendall/Heaton Associates was the production architect, and Clark Construction Group LLC was the general contractor.
HOUSTON — The Praedium Group, a New York-based investment firm, has acquired Everly Apartments, a 387-unit multifamily community in West Houston. Built in 2018, the property offers one- and two-bedroom units that range in size from 659 to 1,292 square feet and feature stainless steel appliances, granite or quartz countertops and custom wood cabinetry. Amenities include a pool with cabanas, a fitness center, indoor golf simulator, outdoor beer garden and a Wi-Fi lounge with private conference rooms. The seller was not disclosed.
