Texas

1900-Parmer-Austin
BerkadiaFinanceNewsTexas

Berkadia Arranges $47 Million Refinancing for 1900 Parmer in North Austin

by Lynn Peisner

AUSTIN, TEXAS — Berkadia has arranged a $47 million refinancing loan for Griffin Capital, the El Segundo, California-based owner of 1900 Parmer Apartments in Austin. MF1 Capital was the lender, and Berkadia’s team was led by Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Patrick Johnson. The property, located at 1900 E. Parmer Lane, was developed in 2024 and was 98 percent leased at the time of the loan closing. In addition to one- and two-bedroom units, 1900 Parmer features two pools with cabanas, a two-story fitness center with …

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Capitol-at-Stonebriar-Frisco
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale of 424-Unit Asset in Frisco, Texas

by Lynn Peisner

FRISCO, TEXAS — Irvine, California-based The Bascom Group has sold Capitol at Stonebriar, a 424-unit community at 9600 Gaylord Parkway in Frisco that opened in 2018. JPI was the original developer. The buyer and sales price were not disclosed. The asset was 91 percent occupied at the time of the sale. Newmark Multifamily Capital Markets’ Brian Murphy, Brian O’Boyle Jr. and Richard Furr represented Bascom Group in the sales transaction, while David Schwarz arranged acquisition financing on behalf of the buyer.

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The-Beacon-at-Pfluger-Farm-Pflugerville
Investment SalesNewsTexas

Virga Capital Buys The Beacon at Pfluger Farm in Metro Austin

by Lynn Peisner

PFLUGERVILLE, TEXAS — Virga Capital, a development and investment firm based in Bozeman, Montana, has acquired The Beacon at Pfluger Farm in the Austin suburb of Pflugerville, about 22 miles northeast of the city. The seller was not disclosed. The three-story garden-style community was built in 2022 and includes one-, two- and three-bedroom units complemented by amenities that include a resort-style pool, two fitness centers, a clubhouse, coworking and lounge spaces, private garages and outdoor gathering areas. Dallas-based Valiant Residential has been selected to manage the property.

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Layers-Galleria-Farmers-Branch
Investment SalesNewsTexas

MG Properties Buys Layers Galleria in Farmers Branch, Texas

by Lynn Peisner

FARMERS BRANCH, TEXAS — IPA has arranged the sale of Layers Galleria, a 330-unit property in Farmers Branch, 14 miles north of Dallas. IPA’s Joey Tumminello, Taylor Hill, Drew Kile, Michael Ware and Jack Windham represented the seller, Pittsburgh-based HLC Equity, and procured the buyer, San Diego-based MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed sum of acquisition financing. The three-story community was developed in 2013. Amenities include a pool, parking garages and a 24-hour fitness center.

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Stonebrook-Village-Frisco
Investment SalesNewsTexas

Paskin Group Buys Stonebrook Village in Frisco, Texas

by Lynn Peisner

FRISCO, TEXAS — Paskin Group has acquired Stonebrook Village, a 216-unit formerly affordable-housing property in Frisco, in a 1031 exchange. Paskin will rebrand the asset to The Ranch at Frisco and is planning to renovate units to drive rent growth following the 2024 expiration of a land-use agreement that required the property be 100 percent affordable. Strata Capital was the seller. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and William Hubbard arranged the transaction. Stonebrook Village was developed in 1994 on approximately 14 acres and offers amenities such …

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SW-Parkway-Grand-Prairie
DevelopmentFinanceNewsTexas

JPI Closes on Financing for $114 Million North Texas Project

by Lynn Peisner

GRAND PRAIRIE, TEXAS — JPI has closed on financing through lender Anchor Loans for the $114 million Jefferson Southwest Parkway project. The 439-unit garden style property is slated for a 2027 completion. Floor plans include studios, one-, two- and three-bedroom units. Amenities will feature a resort-style pool, a fitness center, a dog park and a clubhouse. JPI broke ground in 2025 on Jefferson Kirbybrook, a 262-unit community also located in Grand Prairie. According to the Dallas Business Journal, the Jefferson Kirbybrook development cost is $92 million.

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The-Martin-Austin
Affordable HousingDevelopmentNewsTexas

OHT Partners Breaks Ground on The Martin in Austin, Texas

by Lynn Peisner

AUSTIN, TEXAS — Locally based developer OHT Partners has broken ground on The Martin, a 375-unit community at 2730 E. 7th St. in Austin. The one- and two-bedroom units range from 550 to 1,400 square feet complemented by such amenities as a courtyard with two resort-style pools, a jumbotron and views of the downtown Austin skyline. The seventh floor will feature a fitness center with saunas and cold plunges. Additional amenities include multiple resident club spaces, a golf simulator, a karaoke and multimedia room, podcast rooms, a dog park and …

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Coolwood-Oaks-Houston
Affordable HousingDevelopmentInvestment SalesNewsTexas

Fairstead Buys Houston Affordable Housing Community Coolwood Oaks for $43.3 Million

by Lynn Peisner

HOUSTON — Fairstead has acquired Coolwood Oaks in Houston for $43.3 million. Financing included LIHTC equity and loans from a variety of sources including PNC Bank, Houston Housing Finance Corp. (HHFC) and the Texas Department of Housing and Community Affairs (TDHCA). Fairstead is planning a $14 million renovation of the affordable housing community, which consists of 10 buildings and 168 units for households earning no more than 60 percent of area median income. The property was developed in 1984. DNA Workshop will serve as architect and interior designer for the …

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MG Properties- Sola Galleria Apartments in Farmers Branch Texas
Investment SalesNewsTexas

MG Properties Buys Sola Galleria in Dallas Metro

by Lynn Peisner

FARMERS BRANCH, TEXAS — San Diego-based MG Properties has acquired the 330-unit Sola Galleria Apartments in Farmers Branch, approximately 12 miles north of Dallas. The sellers, HKC Equity and The Hampshire Cos., were represented by Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware and Jack Windham of IPA. An undisclosed amount of financing for the acquisition was arranged by IPA Capital Markets’ Cameron Chalfant, Brian Eisendrath, Harry Krieger and Scott Arenzon. Amenities at the property include a resort-style pool, a dog park, a 24-hour fitness center, a coffee bar, entertainment …

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Mockingbird-Station-Dallas
Affordable HousingDevelopmentNewsTexas

High Street Residential Breaks Ground on Dallas Transit-Oriented Development

by Lynn Peisner

DALLAS — High Street Residential (HSR), a subsidiary of Trammell Crow Co., has broken ground on a 394-unit transit-oriented development in Dallas. The project, which has yet to be formally named, is part of a multi-phase conversion of approximately 16 acres of under-utilized surface parking owned by the Dallas Area Rapid Transit (DART) agency. The project is located at the SMU/Mockingbird station. At full buildout, the area will be a pedestrian-friendly, mixed-use neighborhood surrounding the DART station. HSR’s apartment project is expected to be complete by the end of 2027. …

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