Texas

Rosewood Realty Arranges Sale of 492-Unit Multifamily Portfolio in San Antonio

by Taylor Williams March 20, 2023

SAN ANTONIO — New York City-based brokerage firm Rosewood Realty Group has arranged the sale of a portfolio of two multifamily properties totaling 43 buildings and 492 units in San Antonio. Built in 1983, Terrain at Medical Center features 16 three-story buildings that house 224 units. Constructed in 1980, Latitude consists of 27 two-story buildings that have 268 units. Mike Kerwin and Scott Bernstein of Rosewood Realty represented the seller, Houston-based investment firm Nitya Capital, in the transaction. Austin Marshak, also with Rosewood, represented the buyer, Nord Group.

March 20, 2023

Development Hospitality Texas

Excel Commercial Real Estate Opens 226-Site RV Park in Kingwood, Texas

by Taylor Williams March 20, 2023

KINGWOOD, TEXAS — Excel Commercial Real Estate has opened Laurel Springs RV Resort, a 226-site development in Kingwood, about 30 miles north of Houston. The property offers both long-term and overnight accommodations. Indoor amenities include a fitness center, arcade, business center, lounge, hospitality kitchen and onsite laundry facilities. The outdoor amenity package comprises a pool, outdoor patio and grilling areas, playground, dog park, putting green and walking trails. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.

March 20, 2023

Build-to-Rent Development Single-Family Rental Texas

TerraLane Communities to Develop 94-Unit BTR Residential Complex in El Paso

by Taylor Williams March 20, 2023

EL PASO, TEXAS — TerraLane Communities, the build-to-rent (BTR) development arm of California-based investment firm IHP Capital Partners, will develop a 94-unit residential complex in El Paso. Campo del Sol will offer 19 single-story, three-bedroom homes with an average size of 1,445 square feet. The remaining 75 homes will be two stories and feature either three- or four-bedroom floor plans that range in size from 1,674 to 2,076 square feet. Campo del Sol will also have a central amenity center with a pool, playground and outdoor grilling areas, as well as a network of trails connecting pocket parks and other green spaces. Preliminary sitework has been completed, and the development team will soon begin vertical construction. Completion is slated for the second quarter of 2024.

March 20, 2023

Industrial Leasing Activity Texas

Appliance Installation Company Signs 41,335 SF Industrial Lease in Schertz, Texas

by Taylor Williams March 20, 2023

SCHERTZ, TEXAS — Texas Installs, a Houston-based provider of appliance installation services, has signed a 41,335-square-foot industrial lease in Schertz, a northeastern suburb of San Antonio. Chris Caudill and Troy Martin of Partners Real Estate represented the tenant in the lease negotiations. Nick Prater with 4M Realty Co. represented the landlord, an entity doing business as FHS Associates-San Antonio LP.

March 20, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 9,445 SF Industrial Lease in Northwest Houston

by Taylor Williams March 20, 2023

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 9,445-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the property at 6001 Centralcrest Drive was built in 2002 and features 16-foot clear heights, five grade-level doors and 4,127 square feet of office space. Andrew Bischoff and John Buckley of Finial Group represented the landlord in the lease negotiations. The representative of the tenant, medical equipment manufacturer Medikon LLC, was not disclosed.

March 20, 2023

Acquisitions Industrial Texas

Mohr Capital Acquires 439,809 SF Industrial Property Leased to Tesla in San Antonio

by Taylor Williams March 17, 2023

SAN ANTONIO — Dallas-based investment firm Mohr Capital has acquired Foster Ridge II, a 439,809-square-foot industrial property in San Antonio that is fully leased to electric car giant Tesla. The cross-dock facility was constructed in 2022 and features 36-foot clear heights, 84 dock doors, an ESFR sprinkler system and 2,500 square feet of office space. Dustin Volz, Dom Espinosa and Trent Agnew of JLL represented the seller, Indiana-based Becknell Industrial, in the transaction. Rodrigo Godoi represented Mohr Capital on an internal basis.

March 17, 2023

Courtyard-by-Marriott-Austin-University-Area

Hospitality Loans Texas

PMZ Realty Capital Arranges $20.7M Acquisition Loan for Downtown Austin Hotel

by Taylor Williams March 17, 2023

AUSTIN, TEXAS — PMZ Realty Capital has arranged a $20.7 million acquisition loan for Courtyard by Marriott Austin-University Area, a nine-story, 198-room hotel located in the state capital’s downtown district. The nonrecourse loan was structured with a floating interest rate. The accommodations consist of 186 guestrooms and 12 suites, and guests have access to a pool, fitness center, business center and 1,342 square feet of meeting and event space. The name of the direct lender and the borrower, a Dallas-based investment firm, were not disclosed.

March 17, 2023

Development Multifamily Texas

Pearlstone Partners Breaks Ground on 182-Unit Multifamily Project in South Austin

by Taylor Williams March 17, 2023

AUSTIN, TEXAS — Locally based developer Pearlstone Partners has broken ground on The Montage, a 182-unit multifamily project in South Austin. The condominium development will offer studio, one- and two-bedroom units that will range in size from 520 to 1,400 square feet, as well as 12,872 square feet of retail space. Amenities will include a pool, fitness center, coworking lounge, clubhouse and a rooftop terrace. STG Design is the project architect, and Summit Design Build is the general contractor. Knighthead Funding provided construction financing. Completion is scheduled for spring 2025.

March 17, 2023

Acquisitions Hospitality Texas

Excel Commercial Real Estate Acquires 114-Site RV Park in Southeast Houston

by Taylor Williams March 17, 2023

HOUSTON — Excel Commercial Real Estate has acquired Eric & Jay’s RV Resort, a 114-site property in southeast Houston. The park sits on a 10-acre site with a stocked lake and offers both back-in and luxury pull-through slips. Amenities include a pool, fitness center, game room, outdoor grilling and dining stations and onsite laundry facilities. The seller and sales price were not disclosed. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.

March 17, 2023

Acquisitions Retail Texas

Partners Real Estate Arranges Sale of 5,302 SF Car Wash in Metro Austin

by Taylor Williams March 17, 2023

ROUND ROCK, TEXAS — Partners Real Estate, the Houston-based investment and brokerage firm formerly known as NAI Partners, has arranged sale of a 5,302-square-foot retail property in the northern Austin suburb of Round Rock that is leased to Mister Car Wash. Landan Dory and Jason Chtay of Partners represented the buyer, an entity doing business as AJH Williamsburg Ltd., in the transaction. Spencer Henderson and Jim Ceresnak from B&E CRE represented the undisclosed seller.

March 17, 2023

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