TULSA, OKLA. — Colliers has arranged two sales in the greater metro Tulsa area. Cedar Park Apartments, previously known as Westminster Apartments, traded for $31.3 million, and The Arlo at River’s Edge traded for an undisclosed amount. A local, unnamed investment group sold Cedar Park to Atlas Property Management. Two- and three-bedroom units account for the majority (94 percent) of the asset’s unit mix. The seller invested approximately $4 million in recent capital improvements during its hold period. Capital Assets acquired The Arlo at River’s Edge from Gold Wynn Residential. …
FORT WORTH, TEXAS — FW Westside RE Investors, a partnership between The Keystone Group and Larkspur Capital, will begin construction of the first phase of a mixed-use project about two miles west of downtown Fort Worth in 2026 with completion slated for 2028. The $1.7 billion Westside Village project will be developed in phases on 37 acres at 100 University Drive in Fort Worth. Phase I will include a 308-unit multifamily community and a 100,000-square-foot office building, which will also include retail and restaurant space. HPI is leasing the office …
AUSTIN, TEXAS — Missio Capital and Bow River Capital have acquired Veranda, a 362-unit community at 7205 E. Ben White Blvd, seven miles southeast of downtown Austin. The seller was Wayfinder Real Estate, which developed the asset in 2024. The sales price was not disclosed. Newmark arranged the sale on behalf of the seller with a team led by Patton Jones and Andrew Dickson. Newmark’s Adam Randall and John Wesley-Gibson arranged debt financing for the buyers. Veranda is made up of one-, two- and three-bedroom apartments and townhomes. Amenities include …
DALLAS — Pacific Elm Properties has secured a $132 million loan to refinance Santander Tower, a Dallas high-rise that has been converted from an office building to a mixed-use community. A portion of the tower, known as Peridot, was converted to 291 units of multifamily in 2023. The new loan will support construction of the project’s second phase, which will add 105 additional apartments and bring the total Peridot offering to 396 residences upon completion. In addition to the Peridot apartments, the mixed-use Santander Tower offers the Mint House luxury …
DALLAS — FTK Construction Services has begun renovating Royal Crest Apartments in Dallas. The 167-unit affordable housing property is owned by Fairstead and is undergoing a $21.8 million redevelopment. The lender on the project was Capital One, and the architect is Hooker DeJong. Fairstead acquired the community in August. Units are reserved for residents earning between 50 and 60 percent of area median income. Unit upgrades to the 1968-built property include new paint, cabinetry, countertops, door hardware, plumbing fixtures, flooring, light fixtures, ADA unit upgrades and HVAC updates. Common area …
MANSFIELD, TEXAS — IPA has arranged the sale of Mason + Mill, a 349-unit community in Mansfield, 20 miles south of Fort Worth. The buyer was Salt Lake City-based Millburn & Co. IPA’s team, representing the seller, was led by Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and Shelby Clark. Amenities include a resort-style pool, an outdoor lounge and courtyard, a pet park and private work suites. The property, which was developed in 2024, is adjacent to the currently under construction Reserve Mansfield, a 200-acre mixed-use district.
MISSOURI CITY, TEXAS — BridgeInvest has provided a $40.5 million refinancing loan to the owner of Ravella at Sienna, an offshoot of Orion RE Holdings and Sabal Investment Holdings. Ravella at Sienna is a 292-unit community in Missouri City, 22 miles southwest of downtown Houston. Way Capital arranged the loan. Amenities include a resort-style pool with cabanas, an outdoor gaming lounge with table tennis, a 24-hour fitness center, a dog park and pet spa, a social lounge with an entertainment kitchen and a conference room. The property was developed in …
DALLAS — Affordable housing developer, owner and manager Dominium has promoted Yvette Gallegos to vice president of operations. In her new role, Gallegos will oversee the operations department’s day-to-day activities and will play a key role in advancing organizational initiatives and strategic projects. Gallegos joined Dominium in 2012 as a community manager in Florida and advanced through leadership roles, including area manager and regional manager. In 2024, she was promoted to director of property operations.
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Scalable Solutions for Multifamily’s Growing Package Problem
At too many multifamily communities today, managers spend much of their time receiving, safeguarding, retrieving and tripping over a rising tide of parcels awaiting pickup by residents. A range of cages, lockers and other systems promise to ease the package management burden, but most still require staff oversight and may not securely accommodate bulky items or seasonal surges in deliveries. “The sheer volume of packages residents are getting has increased, and that has driven a lot of frustration with package management,” says Shelly Peterson of Smart Package Room, which makes …
DALLAS — Crescent Real Estate has opened 2811 Maple, a 31-story, 177-unit high-rise in Dallas’ Uptown neighborhood. Each floor has no more than seven units, and 60 percent are corner units. Residences range from 950 to 1,900 square feet with 12 penthouses ranging from 2,100 to 2,500 square feet. Asking rents range from $4,000 to $19,500. Amenities include coworking spaces, a fitness center, a resort-style pool with private cabanas, a fire pit, a garden, a pet spa, a coffee bar, controlled-access parking and electric vehicle charging stations. Valet and concierge …