FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. will develop Westbend Residences, a 321-unit project in Fort Worth’s University District. Units will come in one-, two- and three-bedroom floor plans. A few penthouse units will also be available on the top floor. The property will feature two pools, a fitness center and dog spa, as well as 4,500 square feet of retail space. Construction is slated to begin in the second quarter of 2025 and complete in late 2026. The project is situated on 3.5 acres within Trademark’s …
For most of 2024, relatively high property values combined with rising interest rates priced buyers out of the market for new commercial and residential real estate acquisitions. This slowdown has not only impacted investors and homeowners, but it’s also affected the entire real estate industry — from lenders to appraisers, brokers, law firms, title insurance companies and beyond. Because Section 1031 exchange activity moves in lockstep with the real estate investment cycle, activity for qualified intermediaries has slowed as well. Section 1031 exchanges traditionally have been used by investors to …
DALLAS — JPI, a developer and builder based in Dallas, has hired Jay Parsons as economic advisor. Parsons will advise the company on economic trends and market dynamics. He will serve in a part-time role. Parsons has held executive and senior leadership roles at Madera Residential and RealPage. He also serves on the board of advisors for Apartment Life, a faith-based non-profit organization that offers community building programs.
DALLAS — South Florida-based Sunrise Realty Trust has provided $46.5 million in financing for The Boheme, a 352-unit building in Dallas. The Boheme is an eight-story building in the Bishop Arts District that was completed in 2023. San Antonio-based Kairoi Residential owns the community. The financing is part of a $62 million senior loan that the borrower will use to refinance the property. Apartments come in studio, one- and two-bedroom floor plans, according to Apartments.com. Shared amenities include a rooftop pool, coworking lounge with private meeting rooms, courtyards and a …
AUSTIN — Trammell Crow Company (TCC) has hired Sean Wolff as a senior vice president. Wolff will be responsible for sourcing and overseeing new development opportunities for High Street Residential (HSR), the multifamily development subsidiary of TCC. He will report to Brad Maples, managing director and market leader of TCC Austin. Wolff joins HSR from Slate Real Estate Partners in Austin, where he most recently served as a managing director. Wolff has also held positions at Holliday Fenoglio Fowler and Oden Hughes. He received a Bachelor of Arts from The …
KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed Reserve at Kingwood East, a 181-unit development in Kingwood, about 27 miles north of Houston. The project, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents Phase II of a larger development. The first phase comprised 240 apartments and 49 townhomes and was recently completed in April 2024. Units come in one-, two- and three-bedroom floor plans. The average apartment size is 1,046 square feet, …
SAN ANTONIO — Koontz Corp. has bought a 9.7-acre site in San Antonio from The Concordia Group for an undisclosed price. Koontz will develop The Elle Apartment Homes, a 305-unit community, on the land. Lee Jordan of Cavender & Hill Properties represented The Concordia Group in the sale of the land. Koontz represented itself in the deal. The Elle Apartment Homes will be a complex of four-story buildings comprising 264,015 net rentable square feet. The community will offer a mix of one- and two- bedroom apartments. Residents will have access …
FORNEY, TEXAS — A joint venture between Legacy Partners and The Resmark Cos. has begun leasing for Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas. Rylan at Gateway is located at 1205 Gateway Blvd. within Gateway, a 2,000-acre master-planned development. The community consists of five three-story buildings. Apartments come in a mix of studio, one- and two-bedroom layouts and range from 540 to 1,374 square feet. Units feature smart home technology, Wi-Fi connectivity, stainless steel appliances, wood-style flooring and full-size washers and dryers. Select …
DALLAS — Sunrise Realty Trust Inc., a lender on the Tannenbaum Capital Group (TCG) Real Estate platform, has closed on a $46.5 million commitment to a $62 million senior loan for the refinancing of The Bohéme, a 352-unit community in Dallas. TCG Real Estate originated the loan. The remaining $15.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. Kairoi Residential is the sponsor. The Bohéme was built in 2023. The community rises eight stories across from Lake Cliff Park within the Bishop …
SAGINAW, TEXAS — Marcus & Millichap has arranged the sale of Ashton, a 152-unit property in Saginaw, roughly 8 miles north of Fort Worth, Texas. Ford Braly, Al Silva and Dylan York of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private out-of-state investor, and procured the buyer, a local operator. Located at 681 N. Saginaw Blvd., Ashton was built in 1984. The community features one- and two-bedroom apartments with patios or balconies, walk-in closets and fireplaces. Tenants have access to amenities such …
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