BEE CAVE AND GEORGETOWN, TEXAS — Virginia-based multifamily REIT AvalonBay Communities (NYSE: AVB) has agreed to acquire Cielo and Retreat at Wolf Ranch, two apartment communities in the Austin area, for a combined purchase price of $187 million. The seller is BSR REIT, and the deal is expected to close in late March. Cielo is a 554-unit apartment community in Bee Cave, located west of the state capital, that was built in 2015. Retreat at Wolf Ranch, a 303-unit community located in the northern suburb of Georgetown, was acquired by Arkansas-based BSR in summer 2020 for $51.6 million.
COPPELL, TEXAS — Houston-based developer Alliance Industrial has broken ground on 300 Freeport, a 186,291-square-foot distribution center in Coppell, located in the northern-central part of the metroplex. The site spans 13 acres, and the development will feature a rear-load configuration, 32-foot clear heights and 233 trailer parking stalls. Project partners include Seeberger Architecture, Langan Engineering, Alliance Industrial Builders and Stream Realty Partners. Completion of 300 Freeport is slated for the first quarter of 2026.
HOUSTON — JLL has brokered the sale of 1255 Enclave, a 171,091-square-foot office building in the Energy Corridor area of West Houston. Completed on 6.7-acres in 1999, the six-story building is situated within a 120-acre, 3 million-square-foot development known as The Enclave and offers amenities such as a fitness center and outdoor dining and gathering spaces. The sale also included a 676-space parking garage. Kevin McConn and Marty Hogan of JLL represented the undisclosed seller in the transaction. The buyer, Harmony Public Schools, plans to house back-office functions within the building.
BURLESON, TEXAS — Elevate Commercial Investment Group has purchased Camden Crossings, a 144-unit apartment complex located south of Fort Worth in Burleson. Built in 2023, Camden Crossings offers studio, one- and two-bedroom units that are furnished with granite countertops, stainless steel appliances and private balconies. Amenities include a pool, pickleball court and a pet park. The seller, the original developer, requested anonymity. The sales price was approximately $23 million, based on a stated per-door price of $160,000.
SAN ANTONIO — A partnership between OCI Development, Atlantic Pacific Cos. and Opportunity Home San Antonio has completed Vista at Silver Oaks, a 76-unit affordable housing project on the city’s north side. Residences come in two- and three-bedroom layouts and are entirely reserved for renters earning 60 percent or less of the area median income. In addition to business and fitness centers, residents have access to services such as monthly social events, tax preparation classes, health and wellness programming and afterschool care. Construction began in August 2023.
DALLAS — Knightvest Capital, an investment firm with four offices across Sun Belt markets, has acquired SKYE of Turtle Creek, a 331-unit apartment building in Uptown Dallas that was completed in 1998. According to Apartments.com, SKYE of Turtle Creek offers one-, two- and three-bedroom units that range in size from 843 to 1,886 square feet, as well as a clubhouse, dog park and outdoor grilling and dining stations. The seller and sales price were not disclosed. Knightvest has since rebranded the property as Remi and plans to renovate select units and to upgrade building exteriors and common areas.
HOUSTON — CDC Houston, a subsidiary of Coventry Development Corp., has begun the renovation of the 125-room Courtyard Houston City Place hotel. The four-story hotel was built in 2016 on a 2.9-acre site within the 2,000-acre City Place master-planned community on the city’s north side. Amenities include an outdoor pool, fitness center and meeting and event space. Arkansas-based Julian Builders is leading design and construction of the project, which is expected to be complete in the second quarter.
FORT WORTH, TEXAS — Orlando-based development and investment firm Foundry Commercial has purchased an industrial outdoor storage (IOS) site in Fort Worth. Located on the city’s south side, the site at 8800 S. Freeway spans 6 acres upon which Foundry plans to construct a 5,200-square-foot service building. Foundry is partnering with Manulife Investment Management on the purchase and development of the property, which will be known as Freeway Yards.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 14,828-square-foot industrial lease in southeast Houston. The property at 13027 Gulf Commerce Drive totals 44,358 square feet and features exterior dock doors, drive-in doors, trailer storage and parking for over 90 vehicles. Jason Gibbons of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was National Technical Institute, a provider of vocational training services.
CYPRESS, TEXAS — Locally based brokerage firm Oxford Partners has arranged the sale of a 10,000-square-foot industrial building in the northwestern Houston suburb of Cypress. According to LoopNet Inc., the single-tenant building at 13233 N. Eldridge Parkway was completed in 2024. Jeffery Arnaud of Oxford Partners represented the buyer, Hernandez Office Supply, in the transaction. Darren O’Connor of Partners Real Estate represented the undisclosed seller.