Texas

GreenLight Equity Group Acquires Two Multifamily Properties Totaling 192 Units in Oklahoma City

by Taylor Williams November 5, 2021

OKLAHOMA CITY — Salt Lake City-based investment firm GreenLight Equity Group has acquired Chula Vista and Villa Verde, two multifamily properties totaling 192 units in Oklahoma City. The properties are located on the city’s south side. According to Apartments.com, Chula Vista was built in 1970, totals 60 units and offers amenities such as a playground, picnic area and onsite laundry facilities, while Villa Verde was built in 1968 and features studio and one-bedroom units ranging in size from 470 to 690 square feet. New York-based North Point Capital and Assured Realty Capital Inc. both contributed preferred equity investments of undisclosed amounts to the deal, which traded off market. The seller was also not disclosed. The new ownership plans to implement a value-add plan. The deal marks the first collaboration between the partnership of North Point Capital and Assured Realty Capital.

November 5, 2021

Loans Multifamily Texas

Dwight Capital Provides $27.6M Acquisition Loan for San Antonio Apartments

by Taylor Williams November 5, 2021

SAN ANTONIO — New York City-based Dwight Capital has provided a $27.6 million bridge loan for the acquisition of Parc 410, a 344-unit apartment community in San Antonio. The property encompasses 21 buildings on a 10-acre site and offers amenities such as two pools, a basketball court, fitness center, business center and a dog park. Adam Sasouness of Dwight Capital originated the loan on behalf of the undisclosed borrower.

November 5, 2021

Acquisitions Multifamily Oklahoma Texas

TMG Arranges Sale of 187-Unit Apartment Complex in Oklahoma City

by Taylor Williams November 5, 2021

OKLAHOMA CITY — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Foxcroft Apartments, a 187-unit complex in Oklahoma City that was built in 1971. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, courtyard, playground and onsite laundry facilities. Danny Wieland of TMG represented the seller in the transaction, and Paul Yazbeck of TMG procured the buyer. Both parties requested anonymity.

November 5, 2021

Industrial Leasing Activity Texas

Lee & Associates Negotiates 81,280 SF Industrial Lease in Irving

by Taylor Williams November 5, 2021

IRVING, TEXAS — Lee & Associates has negotiated an 81,280-square-foot industrial lease at 6425 Campus Circle in Irving. According to LoopNet Inc., the property was built in 1981. Ken Wesson, Adam Graham and Chris Hillman of Lee & Associates represented the landlord, Longpoint Realty Partners, in the lease negotiations. The representative of the tenant, West Shore Homes, was not disclosed.

November 5, 2021

Industrial Life Sciences Market Reports Texas Texas Market Reports

Austin, San Antonio Industrial Markets Both Experience Unprecedented Demand

by Taylor Williams November 5, 2021

By Joe Iannacone, senior vice president, Titan Development; and Omar Nasser, senior vice president, AQUILA Commercial The Central Texas industrial market stretches between Austin and San Antonio along the Interstate 35 “Innovation” Corridor, an approximately 80-mile expanse that encompasses some of the fastest-growing cities in the nation. Austin, now the 10th-largest city in the nation population-wise, continues to see unprecedented growth in the tech, e-commerce and household industry sectors. Most notably, Tesla decided to construct its Cybertruck Gigafactory in East Austin along State Highway 130, which has and will be a boon to the region. The electric car maker also recently announced plans to relocate its headquarters from Silicon Valley to Austin. San Antonio, the nation’s seventh-largest city, has seen continued growth in the automotive, financial, life sciences and food and beverage sectors. Large companies continue to flock to the region to establish a major presence, including USAA, H-E-B and Toyota. The markets in between Austin and San Antonio from south to north — Schertz, New Braunfels, San Marcos, Kyle and Buda — have benefitted from the synergies of both markets due to their location and strong economies. As a result of the continued economic activity and with the effects …

November 5, 2021

Development Industrial Texas

Lovett Industrial Delivers Three Warehouses Totaling 1.6 MSF in Metro Houston

by Taylor Williams November 4, 2021

MISSOURI CITY, SPRING AND SUGAR LAND, TEXAS — Locally based investment firm Lovett Industrial has completed construction of three warehouses totaling approximately 1.6 million square feet in the Houston area. The properties include a 1 million-square-foot building in the southwestern suburb of Missouri City; a 220,000-square-foot facility within 99 North Logistics Park in the northern suburb of Spring; and a 326,000-square-foot asset located within Sugar Land Business Park, also on the city’s southwestern outskirts. The first two projects were executed as build-to-suits for an undisclosed, global e-commerce firm. The third building is 50 percent leased to Boise Cascade Building Materials Distribution. Lovett Industrial delivered the buildings with 95 percent of the total space preleased.

November 4, 2021

Acquisitions Multifamily Texas

TruePoint, Electra Capital Buy 436-Unit Apartment Community in Houston

by Taylor Williams November 4, 2021

HOUSTON — Metro Houston-based investment firm TruePoint Capital has acquired The Aubrey, a 436-unit apartment community in Houston’s Westchase neighborhood. Florida-based Electra Capital contributed a $5.2 million equity investment to the deal. The Aubrey offers one-, two- and three-bedroom units that range in size from 700 to 1,300 square feet and feature wood-style flooring, designer color schemes, washer/dryer connections and private patios/balconies. Communal amenities include two pools, a fitness center, a full-service business center, clothing care center, dog park and a playground.

November 4, 2021

Acquisitions Multifamily Texas

Partnership Acquires 252-Unit Garden Park Apartments in Arlington

by Taylor Williams November 4, 2021

ARLINGTON, TEXAS — A partnership led by Vertical Street Ventures has acquired Garden Park Apartments, a 252-unit multifamily community in Arlington. Built in 1968 and partially renovated in 2020, the property offers amenities such as a pool, outdoor lounge, playground and outdoor yoga space. The partnership, which now owns four properties in Texas, also included Invest in Multifamily, Limitless Estates and other private investors.

November 4, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 96-Unit Multifamily Property in Fort Worth

by Taylor Williams November 4, 2021

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Estrella at Broadmoor, a 96-unit multifamily property in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a locally based investment firm, in the transaction. The duo also procured the buyer, a locally based partnership. Both parties involved in the deal requested anonymity.

November 4, 2021

Acquisitions Oklahoma Retail Texas

Stan Johnson Co. Arranges $9.1M Sale of Tulsa Retail Center

by Taylor Williams November 4, 2021

TULSA, OKLA. — Stan Johnson Co. has arranged the $9.1 million sale of a 102,000-square-foot retail center in Tulsa. Anchored by Burlington, the center is adjacent to the 1 million-square-foot Woodland Hills Mall on the city’s south side. Mike Sladich, Jeff Hughes, Maggie Holmes and Michael Watson of Stan Johnson Co. represented the seller, a Baltimore-based investor, in the transaction. The buyer was a California-based 1031 exchange investor.

November 4, 2021

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