AUSTIN, TEXAS — S2 Capital has purchased Vineyard Hills, a 202-unit property in southwest Austin, for an undisclosed price. Vineyard Hills is situated on a 11-acre site. Units come in one-, two- and three-bedroom floor plans. Community amenities include a pool, spa, dog park and outdoor grilling and dining stations. The identity of the seller was not disclosed. S2 Capital acquired the asset in conjunction with Belle Rive Club Apartments, a 104-unit complex in Jacksonville, Florida.
NEW BRAUNFELS, TEXAS — Tower Capital has arranged a $47.4 million construction loan for the development of Village at Mayfair, a 217-unit build-to-rent project in the San Antonio suburb of New Braunfels. The non-recourse loan features a three-year term. The community will span 20 acres and offer amenities such as a fitness center, car care station, BBQ grills, and central pool and clubhouse. Units will average 1,023 square feet and include private yards or patios. A construction timeline for the project was not disclosed.
FORT WORTH, TEXAS — JLL Capital Markets has negotiated acquisition financing for Monticello Apartments, a 116-unit asset in Fort Worth. JLL worked on behalf of the borrower, Price Realty, to secure the five-year, fixed-rate financing through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily LLC. John Brownlee, Bo Beidleman, Blake Morrison and Aaron Craig led the JLL Capital Markets Debt Advisory team. Located at 154 North Bailey Ave., Monticello Apartments consists of 22 two-story buildings. The unit mix includes 56 one-bedroom and 60 two-bedroom apartments. Units …
ARLINGTON, TEXAS — Major League Baseball team the Texas Rangers and The Cordish Cos. have topped out One Rangers Way, a 300-unit project in the western Dallas suburb of Arlington. One Rangers Way is the multifamily component of Cordish’s Arlington Entertainment District. The devleopment site is situated less than a mile from Globe Life Field, the home ballpark of the Rangers. The community will offer studio, one- and two-bedroom units. Each of the community’s 52 floor plans are named after Rangers players or significant events, including the team’s 2023 World …
KATY, TEXAS — JLL Capital Markets has completed the sale of Banyan Kingsland Heights, a 97-unit build-to-rent development in the Houston suburb of Katy. Matthew Putterman, Jim Humphries, Daniele Colbertaldo and Rhett Robins led the JLL Capital Markets Investment Sales and Advisory team representing the seller, Banyan Residential, in the deal. The buyer was not disclosed. Banyan Kingsland Heights was completed in 2021. The project offers single family homes in three- or four-bedroom layouts across 27 acres. Homes average 1,876 square feet in size and feature two-car garages, privacy fencing, …
DALLAS — A joint venture between locally-based Anthem Development and Austin-based ATX Acquisitions has purchased Eleven600 Apartments, a 216-unit community located in the Lake Highlands region of Dallas. The seller and sales price were not disclosed. Eleven600 Apartments offers units in one- and two-bedroom layouts. Amenities include a pool, clubhouse, fitness center, playground, sports court and outdoor grilling and dining stations. The new owners plan to implement a value-add program at the community.
HARRAH, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has negotiated a $6.7 million loan for the refinancing of Prairie Breeze Townhomes, a 56-unit community in the eastern Oklahoma City suburb of Harrah. The loan carries 12 months of interest-only payments and a 30-year amortization schedule. The lender and borrower were not disclosed. Prairie Breeze Townhomes was built in 2013. The property consists entirely of three-bedroom apartments.
MELISSA, TEXAS — Greysteel has arranged construction financing for Wolf Creek Farms, a 32-acre build-to-rent development in Melissa, approximately 40 miles north of Dallas. Wolf Creek Farms will offer 343 units in one-, two- and three-bedroom layouts. Planned amenities include a pool, fitness center, dog park, courtyards and lounges. The developer, Dallas-based Welker Properties, will break ground on the project in the fall. Construction is slated to complete by the end of 2025. The total development cost is expected to be $95 million.
RICHMOND, TEXAS — Houston-based developer Meristem Communities has broken ground on the first building at Indigo, a 235-acre mixed-use project in Richmond, approximately 35 miles southwest of Houston. Upon completion, Indigo will include 800 residences, 42 acres devoted to agriculture and a 12-acre mixed-use town center called Indigo Commons. The first of the residences are set to deliver next month. Meristem Communities is also currently selling vacant retail pads and offering build-to-suit opportunities for retailers within Indigo Commons. The first building, called The Filling Station, will be situated in Indigo …
ARLINGTON, TEXAS — Marcus & Millichap has negotiated the sale and financing of Fielder’s Glen, a 220-unit asset in Arlington. Rise48 Equity purchased the asset from Western Wealth Capital for an undisclosed price. Fielder’s Glen offers studio, one- and two-bedroom units. Amenities include a pool, barbeque and picnic area, laundry facilities and a fitness center. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller and procured the buyer. Brandon Brown with Marcus & Millichap Capital Corp. arranged acquisition financing.