Texas

Landmark by Hillwood in Denton, Texas
DevelopmentNewsTexas

Hillwood Plans 3,200-Acre Mixed-Use Development in Denton, Texas

by Channing Hamilton

DENTON, TEXAS — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 apartment units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land holdings …

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Investment SalesNewsTexas

Cortland Acquires 288-Unit Villas River Oaks in Houston

by Channing Hamilton

HOUSTON — Atlanta-based investment and development firm Cortland has acquired Villas River Oaks, a 288-unit complex in Houston’s River Oaks neighborhood. Cortland purchased the asset from international investment firm Heitman for an undisclosed price. Villas River Oaks offers one- and two-bedroom floor plans, which range from 625 to 1,200 square feet. Amenities include a pool, clubhouse, fitness center, lounge, community garden and outdoor grilling and dining stations. The new ownership plans to implement a value-add program and rebrand the property as Cortland River Oaks.

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The Perch PDX in Portland, Oregon
Affordable HousingDevelopmentFeaturesFinanceMidwestNevadaNortheastSoutheastTexasWestern

Industry Says Biden’s Proposed Rent Cap Would Punish Tenants

by Channing Hamilton

WASHINGTON, D.C. — The Biden administration has called on Congress to pass rent-control legislation that would affect more than 20 million rental homes across the country. Under the proposed rule, landlords with more than 50 units in their portfolios would forfeit federal tax breaks if they raise rents annually more than 5 percent on their existing units.  If passed, this rule would be in force beginning this year and would last through 2026. The plan would include an exception for new construction and for units currently undergoing substantial renovation or …

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36N in Tulsa, Oklahoma
Affordable HousingDevelopmentNewsOklahomaTexas

Pennrose, Tulsa Housing Authority to Develop $190 Million Mixed-Income Project in Tulsa, Oklahoma

by Channing Hamilton

TULSA, OKLA. —  A public-private partnership consisting of Pennrose and the Tulsa Housing Authority will develop 36N, a $190 million mixed-income project in Tulsa. The partnership will redevelop the existing property at the site, a 271-unit community called Comanche Park Apartments, and construct an additional 274 units from the ground up. Once completed, 36N will comprise 545 apartments. The development is part of a larger revitalization initiative known as Envision Comanche. The project will also feature single-family homes, as well as a grocery store, urban farm and dedicated wilderness area. Vertical …

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Gateway Crossing Apartments in Plano, Texas
Investment SalesNewsTexas

Bell Partners Buys 831-Unit Gateway Crossing Apartments in Plano, Texas

by Channing Hamilton

PLANO, TEXAS — Greensboro, North Carolina-based Bell Partners has acquired Gateway Crossing Apartments, an 831-unit community in Plano. Daniel Baker of CBRE brokered the deal. The seller and sales price were not disclosed. Gateway Crossing Apartments was built in phases between 2013 and 2017. The community features one-, two- and three-bedroom apartments with an average size of 950 square feet. According to Apartments.com, the property features amenities such as a fitness center, clubhouse, game room, lounge, media center, pet play area, business center, multiple pools and outdoor grilling and dining …

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Industry VoicesMidwestNortheastOperationsSoutheastTexasWestern

Property Managers Need a Holistic Approach to Prop Tech to Streamline Operations

by Channing Hamilton

— By Mike Branam, director of multifamily, PointCentral Renters increasingly desire smart technology features and personalized automation that can save time, money and improve property security. A 2022 survey from Rent.com reported that a staggering 82 percent of renters wanted at least one smart device in their home.  This has encouraged property owners and operators to invest in technology as part of a wider strategy to both attract and retain a resident base that is a good fit for their communities. Technological advancements such as artificial intelligence (AI), as well …

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Lyle in Dallas
DevelopmentLeasing & MarketingNewsTexas

Toll Brothers Apartment Living, Equity Residential Open 334-Unit Lyle in Dallas

by Channing Hamilton

DALLAS — A partnership between Equity Residential and Toll Brothers Apartment Living, the rental division of Toll Brothers, has opened Lyle in Dallas. Construction began on the project in 2022 and was financed by a $55.6 million construction loan from Santander Bank, N.A. Located at 17727 Addison Road, Lyle offers 334 apartments in studio, one-, two- and three-bedroom layouts. Units include smart home technology features such as keyless entry and smart thermostats. Select units also include private balconies, terraces or fenced-in yards. Residents have access to outdoor amenities such as …

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Investment SalesNewsTexas

Hamilton Point Investments Acquires 1,174-Unit Portfolio in Metro Houston for $195 Million

by Channing Hamilton

HOUSTON — Hamilton Point Investments has acquired a portfolio of four properties totaling 1,174 apartments in the Houston metropolitan area. Hamilton Point Investments purchased the portfolio from a Texas-based multifamily developer for $195 million, which represents a cost per unit of $166,100. All four properties were built in 2022. The portfolio includes:

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Investment SalesNewsTexas

Vanguard Real Estate Negotiates Sale of 54-Unit CoHo Apartments in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Vanguard Real Estate Advisors, a Dallas-based brokerage firm, has arranged the sale of CoHo Apartments in Fort Worth’s Near Southside neighborhood. The building offers 54 studio apartments. Community amenities include a rooftop deck, resident lounge, dog run and gaming lounge. Jordan Cortez, Mason John, Haley Birmingham and Will Droese of Vanguard Real Estate Advisors represented the seller, Watermark Cos., in the deal. The buyer and sales price were not disclosed.

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Vineyard Hills Apartments in Austin, Texas
Investment SalesNewsTexas

JLL Capital Markets Brokers Sale of 202-Unit Vineyard Hills Apartments in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — JLL Capital Markets has negotiated the sale of and secured acquisition financing for Vineyard Hills Apartments, a 202-unit community in Austin. JLL Capital Markets worked on behalf of the seller, Bob Reeves, in the deal. JLL also procured the acquisition loan for the buyer, S2 Capital, through Benefit Street Partners. Vineyard Hills Apartments offers one-, two- and three-bedroom apartments. Units average 928 square feet in size and include walk-in closets, balconies and detached garages. Select units feature fireplaces, bay windows and tile floors. Community amenities include a …

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