HUNTSVILLE, TEXAS — Stafford Barrett has brokered the sale of Encore at Sam Houston, a 528-bed student housing property located near Sam Houston State University in Huntsville. The garden-style property offers four-bedroom units with bed-to-bath parity across 12 buildings. Shared amenities include a resort-style pool, 24-hour fitness center, private study lounges, a pet park and basketball and volleyball courts. Jeyton McNair and Greg Jasper of Stafford Barrett represented the undisclosed seller in the disposition.
HOUSTON — A joint venture between Austin-based RPM Living Investments and New York-based DRA Advisors has acquired San Paloma, a 372-unit apartment community in Houston’s Energy Corridor area. Developed by Sueba USA in 2006, San Paloma features one- and two-bedroom units with an average size of 1,050 square feet. The amenity package comprises a pool, fitness center, heated spa, playground, dog park, business center and outdoor lounge spaces. A partnership between Blackstone and Livcor sold the property for an undisclosed price. Amerant Bank provided acquisition financing for the deal.
HOUSTON — Berkadia has arranged the sale of Timberwalk, a 300-unit apartment community in northwest Houston. Built in 1983, Timberwalk offers one-, two- and three-bedroom units ranging in size from 501 to 1,088 square feet and amenities such as two pools, a fitness center, playground, outdoor grilling and dining areas and onsite laundry facilities. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia represented the seller, Dallas-based Performance Properties, in the transaction. Johnny King of Berkadia secured acquisition financing on behalf of the buyer, New York City-based Lone Star Capital.
FORT WORTH, TEXAS — Colliers Mortgage has provided a $7.3 million HUD-insured construction loan for Avenue at Sycamore Park, a multifamily project in Fort Worth that will add 91 affordable housing units and 17 market-rate residences to the local supply. The project’s affordable component will include units for renters earning 30, 50 or 60 percent or less of the area median income. Jeff Rogers of Colliers Mortgage originated the financing through HUD’s 221(d)(4) program on behalf of the borrower, an entity doing business as CSH Avenue at Sycamore Park Ltd. A tentative completion date was not disclosed.
ARLINGTON, TEXAS — Incab America, a manufacturer of fiber optic cables, has signed a 40,000-square-foot industrial lease in Arlington. According to LoopNet Inc., the single-tenant building at 2821 E. Randol Mill Road was constructed in 1968. Reed Parker and Mark Graybill of Lee & Associates represented the landlord, Arden Logistics Management LLC, in the lease negotiations. Riley Maxwell and John Brewer of Transwestern represented Incab America.
DENTON, TEXAS — A partnership between Dallas-based developer CLX Ventures and Principal Real Estate Investors has broken ground on a 1.2 million-square-foot industrial project in the North Texas city of Denton. The development, which has been branded ICC-35, will consist of three buildings ranging in size from 123,584 to 702,766 square feet that will be situated on a 73-acre site along I-35. Buildings will feature clear heights of 32 to 36 feet, truck court depths of 135 to 185 feet and a total of 233 dock doors and 10 drive-in ramps, as well as combined parking for 640 cars and 257 trailers. Construction is slated for an August 2023 completion. Holt Lunsford Commercial has been appointed as the leasing agency.
HUMBLE, TEXAS — A partnership between New York-based Sunsail Capital and Dallas-based ZaneCRE has acquired Sarah at Lake Houston, a 350-unit multifamily property located in the northern Houston suburb of Humble. Built in 2020, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, multi-sport simulator, business and conference center, dog park and a biergarten. Zack Springer of Newmark brokered the transaction. Purvesh Gosalia, also with Newmark, arranged acquisition financing on behalf of the joint venture.
TOMBALL, TEXAS — Berkadia has negotiated the sale of Bridgewater Apartments, a 206-unit workforce housing community in the northern Houston suburb of Tomball. Built in phases between 1979 and 1982, Bridgewater Apartments contains one- and two-bedroom units ranging in size from 670 to 944 square feet. The amenity package comprises a resident kitchen, clubroom, business center, pool, picnic areas with grilling stations, an enclosed pet park and open green spaces. Joey Rippel, Chris Young, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia represented the seller, Houston-based Sentinel Capital, in the transaction. Cutt Ableson, also with Berkadia, arranged acquisition financing on behalf of the buyer, a partnership between Tranquility Capital, Abundance Equity Partners and Rubio Investors.
PORTLAND, TEXAS — Northmarq has arranged the sale of Sun Valley Apartments, a 120-unit multifamily complex in Portland, located outside of Corpus Christi in South Texas. The property was originally built in 1968 and offers a pool and onsite laundry facilities. Zar Haro and Phil Grafe of Northmarq represented the seller, McGuire Family Properties, in the transaction. The undisclosed buyer plans to implement a value-add program.
ARLINGTON, TEXAS — California-based automotive parts manufacturer Prestige Autotech has signed a 49,280-square-foot industrial lease at 2001-2023 Exchange Drive in Arlington. According to LoopNet Inc. the property was built in 1972 and spans 187,840 square feet. Reed Parker and Mark Graybill of Lee & Associates represented the landlord, Link Logistics Real Estate, in the lease negotiations. Greg Nelson and Jimmy Holcomb of Paladin Partners represented the tenant.