Texas

Marcus & Millichap Brokers Sale of 172-Unit Cantera in Carrollton, Texas

by Channing Hamilton October 24, 2024

CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Cantera, a 172-unit property in Carrollton, roughly 20 miles north of Dallas. Touro Co. and Catalyst Equity Partners sold the community to Cantera CRG LLC for an undisclosed price. Wesley Racht, Joey Murry, Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the asset on behalf of the seller and procured the buyer. Cantera is located at 1910 S. Josey Lane. Built in 1969, the complex consists of 12 buildings on a 6.2-acre parcel. Units come in one- and two-bedroom floor …

October 24, 2024

Investment Sales News Texas

Cushman & Wakefield Arranges Sale of 352-Unit Lux on Main Apartments in Metro Dallas

by Channing Hamilton October 23, 2024

CARROLLTON, TEXAS — Cushman & Wakefield has brokered the sale of Lux on Main, a 352-unit community in Carrollton, approximately 20 miles north of Dallas. RPM Living purchased the asset from Nimes Real Estate for an undisclosed price. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller in the deal. Lux on Main was constructed in 2019. The community offers studio, one- and two-bedroom units. Amenities include a pool, wellness center, resident lounge and a business center. The property also features 4,095 square feet of fully leased …

October 23, 2024

Multifamily TheGuarantors Eben MacNeille

Affordable Housing Content Partner Features Industry Content Leasing & Marketing Midwest Northeast Operations Southeast Student Housing Texas Western

Renter Profiles Are Changing – How Multifamily Operators Can Minimize the Risks of Rent Default and More

by Sarah Daniels October 23, 2024

Despite the persistent housing shortage, landlords are having a more difficult time qualifying potential residents, especially non-traditional applicants who don’t check the usual boxes for credit and employment history. Renters are also facing bigger hurdles for income, credit and up-front deposits. “It has become increasingly expensive and challenging to rent an apartment in the United States,” says Eben MacNeille, senior director of sales at TheGuarantors. The New York-based financial technology company serves the multifamily industry by providing lease guarantees, security deposit replacements and renters insurance and compliance solutions. Today’s renter …

October 23, 2024

Company News Finance Investment Sales News Operations People News Texas

IPA Capital Markets Hires Harry Krieger as Managing Director

by Channing Hamilton October 22, 2024

DALLAS — IPA Capital Markets, a division of Marcus & Millichap, has hired Harry Krieger to the position of managing director. In this new role, Krieger will be responsible for placing debt for institutional clients. He will be based in Dallas but part of the firm’s Los Angeles-based IPA Capital Markets team, which is led by Brian Eisendrath and Cameron Chalfant. He will collaborate with the firm’s Texas-based IPA multifamily investment sales team — led by Drew Kile and Will Balthrope — to provide clients with capital markets services. Krieger …

October 22, 2024

Company News Development Leasing & Marketing News Operations Texas

LV Collective Appoints Alex Perkins as President of Multifamily

by Channing Hamilton October 22, 2024

AUSTIN, TEXAS — LV Collective has hired Alex Perkins as president of multifamily. In this role, he will define and execute the Austin, Texas-based firm’s multifamily platform, overseeing strategy, development, capital markets, operations and asset management. Prior to joining LV Collective, Perkins served as a director for Greystar Development and Construction Services. He is a member of the advisory council for the University of Texas Real Estate Center, where he advises on program strategy and curriculum design.

October 22, 2024

Affordable Housing Industry Voices Leasing & Marketing Midwest Northeast Operations Southeast Texas Western

Technology Clears Operational Roadblocks for Affordable Housing Managers

by Channing Hamilton October 21, 2024

There is an urgent need for more affordable housing in the United States. For every 100 extremely low-income renter households, there are just 36 affordable units available for rent, according to a March 2024 report from the National Low Income Housing Coalition (NLIHC). Despite widespread attention on this issue — including at the state and federal levels — the supply shortage has continued. Municipalities across the United States continue to struggle to address symptoms of the affordable housing crisis, such as homelessness and rising housing costs. The NLIHC reports that there is …

October 21, 2024

Investment Sales Leasing & Marketing News Texas

Eastham Capital, Mosaic Residential Acquire Two Communities Totaling 164 Units in Metro Houston

by Channing Hamilton October 15, 2024

PEARLAND, TEXAS — Eastham Capital has partnered with Mosaic Residential to acquire Amber Oaks and Park Place, two adjacent communities totaling 164 units in Pearland, about 20 miles south of downtown Houston. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI LP. The acquisition price was not disclosed. Amber Oaks was built in 2015 and is located at 3340 E Walnut Street. The property consists of 63 units spread across two three-story buildings. The unit mix includes 16 one-bedroom and 47 two-bedroom apartments. The …

October 15, 2024

Finance News Texas

JLL Capital Markets Arranges Refinancing for Two Properties Totaling 745 Units in Houston

by Channing Hamilton October 14, 2024

HOUSTON — JLL Capital Markets has arranged financing for Hanover Autry Park and Hanover Parkview, two communities located in Houston. JLL represented the borrowers, Hanover Co. and Lionstone Investments, to secure the five-year, fixed-rate loans from accounts managed by KKR. The borrowers will use the funds to refinance their existing construction loans that JLL sourced in 2019. Cortney Cole, Colby Mueck, Laura Brown, Davis Burnett and Scot Sarlin led the JLL Capital Markets Debt Advisory team. Hanover Autry Park is a 23-story high-rise community located at 811 Buffalo Park Drive. …

October 14, 2024

Investment Sales News Texas

Newmark Negotiates Sale of 165-Unit O’Connor Oaks in San Antonio

by Channing Hamilton October 10, 2024

SAN ANTONIO — Newmark has arranged the sale of O’Connor Oaks, a 165-unit community located at 13658 O’Connor Road in northeast San Antonio. Jim Young and Chase Easley of Newmark Multifamily Capital Markets represented the seller, Austin-based JMB Group, in the deal. Salt Lake City-based Preserve Partners was the buyer. O’Connor Oaks was built in 1983. The garden-style community offers a mix of one-, two- and three-bedroom floor plans. The average unit size is 900 square feet. Amenities include two pools with sun lounges, outdoor grilling and picnic areas, a …

October 10, 2024

The Royalton at Prosper in Prosper, Texas

Development News Texas

SWBC Begins Developing 270-Unit The Royalton at Prosper Near Dallas

by Channing Hamilton October 9, 2024

PROSPER, TEXAS — Dallas-based developer SWBC has broken ground on The Royalton at Prosper, a 270-unit project in Prosper, about 40 miles north of Dallas. The community will offer one-, two- and three-bedroom floor plans. Select units will feature yards and direct-access garages. Amenities will include a clubhouse with a business center, fitness center and pool with cabanas and grilling stations. Cross Architects is designing the project. Carleton Cos. is serving as the general contractor. The first units are expected to be available for occupancy next summer. The Royalton at …

October 9, 2024

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