HOUSTON — OHT Partners has broken ground in West Houston on a 360-unit, three-story community, its 17th multifamily development project to date in the metro area. The property, which has yet to be formally named, is being built by OHT sister company OHT Partners Construction on a 14.2-acre site at 23615 Kingsland Blvd. Completion is slated for mid-2027. This community will offer a mix of 246 one-bedroom and 114 two-bedroom residences. Each home will feature smart lock technology, Wi-Fi-enabled thermostats, front-lit vanity mirrors, mud rooms and more. Amenities will include a …
Texas
ABILENE, TEXAS — Franklin Street has arranged the sale of The Windsor Hotel Apartments at 401 Pine Street in Abilene. Franklin Street represented the seller, North Management LLC, in the sale of the property to Studio 168 Productions. The 10-story, 110,000-square-foot building was originally a Hilton Hotel built in 1926 and was among the first Hilton-branded hotels in the country. North Management spent approximately $4.7 million to renovate the property in 2023. Renovations included adding amenities like a fitness center with a sauna, coworking spaces, a resident lounge and ground-floor …
DALLAS — Northmarq has arranged a $129.7 million Fannie Mae loan for Hines and Diversified Real Estate Capital. The joint venture investors will use the loan to pay existing debt on The Victor, a 344-unit high-rise that was completed in 2022 in the Victory Park neighborhood of Dallas. Northmarq’s Chicago debt and equity team, led by Kevin McCarthy, Jeff Frankel and Alex Czachor, arranged the fixed-rate loan.
HOUSTON — Hoar Construction has completed work on Rone Residences, a 12-story development in Houston’s River Oaks/Upper Kirby area. High Street Residential, the residential subsidiary of Trammell Crow Co., was the developer, and ZCA Residential was the architect on the project. ZRS Management is handling property management and leasing. Residents have begun moving in. Rone Residences features 209 units and approximately 2,900 square feet of retail at 2311 Westheimer Road. The complex offers four levels of parking, a 24-hour concierge desk, a fitness center, a lounge, a dog run and an …
AUSTIN, TEXAS — Locally based multifamily and student-housing developer LV Collective, formerly known as Lincoln Ventures, has launched pre-leasing at Paseo, its new mixed-use property at 80 Rainey St. The 48-story tower will be fully complete and open by October. The developer broke ground on the project in 2023. Paseo offers 557 units as studios or in one-, two- and three-bedroom floor plans as well as four penthouses. Monthly asking rents start at approximately $1,900. Amenities include a pool, deck and bar on the 12th floor with views of Lady …
SAN ANTONIO — Platte Canyon Capital (PCC), in partnership with an unnamed Los Angeles-based institutional real estate investment manager, has acquired Allure Apartments in an off-market transaction. The 268-unit community in San Antonio was developed in phases on 11.5 acres, with the first 116 units constructed in 1984 and another 152 delivered in 2017. The property is in the Westover Hills submarket and includes one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. PCC is planning a $4.7 million capital improvement program …
EL PASO, TEXAS, AND ATLANTA — Hunt Cos. Inc., an El Paso-based holding company with a focus on real estate, infrastructure and financial services, has acquired a majority stake in Carter, an Atlanta-based real estate investment and development firm. The companies have partnered on past development projects, including Prospect Lake Wire, a mixed-use development completed in 2024 in Lakeland, Florida, and The DeSOTA, an apartment community in Sarasota, Florida, completed in 2018. With this change, Bob Peterson, long-time chief executive officer and chairman of Carter, has announced his retirement. Following …
LEWISVILLE, TEXAS — SPI Advisory and FCP have acquired Crest Manor Apartments, a 600-unit community in Lewisville, 25 miles north of Dallas. SPI said in a release it had been in discussions with the undisclosed developer and seller for the past five years and acquired the asset in an off-market transaction. Crest Manor was developed in two phases in 2010 and 2016. Amenities include two pools, a clubhouse, fitness center, tennis courts and walking trails. Units are offered in one-, two- and three-bedroom floor plans. The joint venture partners are …
RICHARDSON, TEXAS — RealPage has acquired Livble, a flexible-payment company, and will incorporate the new payment technology into two of its own software solutions, LOFT and Buildium. LOFT is a resident-facing app RealPage launched in January. LOFT’s payment function allows users to pay their rent traditionally, directly from their bank in one lump sum, or residents can pay in two installments. With the Livble technology, residents now can split up payments into up to four installments per month. RealPage assumes nonpayment risk and manages collections should residents not pay. In …
FRISCO, TEXAS — Rosewood Property Co. and equity partner MetLife Investment Management, the institutional asset management business of MetLife, have broken ground on Penrose, a 382-unit property in Frisco. Located on a 5-acre site at 4301 Tributary Way, Penrose is a part of the Southstone Yards masterplan, a pedestrian-oriented, 45-acre, mixed-use project featuring multiple phases of development with such uses as office, residential, restaurant, hotel and green space. Completion of the greater Southstone Yards development is slated for 2030, while Dallas-based Rosewood is estimating a fall 2027 completion date for …