Texas

Pear Ridge in Dallas
DevelopmentInvestment SalesNewsTexas

Excelsa Properties Acquires 168-Unit Pear Ridge in Dallas, Plans $4.3 Million Renovation

by Channing Hamilton

DALLAS — Excelsa Properties has acquired Pear Ridge, a 168-unit property located at 4753 Old Bent Tree Lane in Dallas. Pear Ridge was built in 1986 and consists of 12 buildings. The gated community offers amenities such as lounges, a pool, business center, fitness center, clubhouse, laundry facilities, storage spaces and transportation services. Excelsa Properties plans to invest $4.3 million to renovate the community. Planned upgrades include the installation of new countertops, stainless steel appliances, tile backsplash, vinyl flooring, lighting and plumbing fixtures and ceiling fans. Exterior renovations will include …

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Northwest Village in Fort Worth, Texas
DevelopmentNewsTexas

Woodfield Development Breaks Ground on $101 Million Northwest Village in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Woodfield Development has broken ground on Northwest Village, a $101 million project in Fort Worth. The asset will be situated within Traditions at Northwest Village, a 47-acre master planned development featuring office, retail and restaurant space, as well as a large public park. Northwest Village will comprise 455 apartments across two buildings on a 15-acre site. Units will come in studio, one-, two- and three-bedroom layouts. The property will also offer five townhome-style units. Planned amenities include private conference rooms and individual offices, a fitness center, …

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The District in Little Elm in Little Elm, Texas
Investment SalesNewsTexas

Institutional Property Advisors Brokers Sale of 324-Unit The District in Little Elm Near Dallas 

by Channing Hamilton

LITTLE ELM, TEXAS — Institutional Property Advisors has arranged the sale of The District in Little Elm, a community situated in Little Elm, 37 miles north of Dallas. The property features 324 units with 19 townhomes, as well as 11,272 square feet of retail. Apartments have wood-style flooring, pantries, washer and dryer connections and patios or balconies. The average unit size is 835 square feet. The District in Little Elm was built in 2023 on a 10-acre site. Amenities include controlled access, two pools, private work pods and EV charging …

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Dallas-Fort Worth
DevelopmentFinanceFrom the MagazinesMarket ReportsTexas

Dropoff in New Construction Will Drive Future Rent Growth in Dallas

by Channing Hamilton

The multifamily sector in Dallas-Fort Worth has faced a challenging capital market environment over the past year. But like its counterparts in the Sun Belt, the local market has proven to be resilient based on economic performance, employment and population growth, as well as other market fundamentals. Sentiments about the commercial real estate sector in Dallas-Fort Worth, as a result, have turned very positive since the start of the year, though a significant number of investors remain cautiously optimistic. Employment indicators in Dallas-Fort Worth best displayed the resilience we saw …

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DevelopmentLeasing & MarketingNewsTexas

Wood Partners, ParkProperty Capital Open 261-Unit The Albright in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — A partnership consisting of Wood Partners and ParkProperty Capital has opened The Albright, a 261-unit community in Austin’s Burnet neighborhood. Construction on the project completed in May. The Albright now offers one-, two- and three-bedroom floor plans. Units feature smart technology, stainless steel appliances, granite countertops, walk-in closets and full-size washers and dryers. Amenities include: a clubroom; gaming area with a dining table, shuffleboard and pool table; fitness center; entertainment area; pet park; pool; co-working space; and a rooftop Skydeck.

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FinanceNewsTexas

Greystone Negotiates $22.9 Million in Financing for The Barcelona on Chisolm Trail in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Greystone has arranged $22.9 million in financing for The Barcelona on Chisolm Trail, a 248-unit property in Fort Worth. The Barcelona on Chisolm Trail will comprise 17 buildings on a 10-acre site. Amenities include a pool, playground, dog park, outdoor lounge areas, business center, fitness center and a clubhouse. The borrower was MBP Capital Partners. Lance Wright, Thomas Wayda and Dante Distefano of Greystone arranged a $19.5 million bridge loan through an undisclosed debt fund. Matthew Zisler of Greystone also brokered a $3.4 million preferred equity …

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Urban Village at Rosehill Apartments in Garland, Texas
DevelopmentFinanceNewsTexas

Colliers Mortgage Provides $13.9 Million Construction Financing for Urban Village at Rosehill Apartments in Garland, Texas

by Channing Hamilton

GARLAND, TEXAS — Colliers Mortgage has provided a $13.9 million HUD 221(d)(4) loan for the construction of Urban Village at Rosehill Apartments, a 104-unit community in the Dallas suburb of Garland. Jeff Rogers of Colliers Mortgage’s Fort Worth office closed the loan, which carries a 40-year term and amortization. Once completed, the property will comprise a single four-story building. Units will come in one- and two-bedroom layouts. Planned amenities include a pool, dog park, green space, clubhouse, fitness center, community room and business center.

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Investment SalesNewsTexas

S2 Capital Acquires 202-Unit Vineyard Hills in Austin, Texas

by Channing Hamilton

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.

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Build-to-RentDevelopmentNewsTexas

Tower Capital Arranges $47.4 Million Construction Loan for Build-to-Rent Development in New Braunfels, Texas

by Channing Hamilton

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.

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Monticello Apartments in Fort Worth, Texas
FinanceInvestment SalesNewsTexas

JLL Capital Markets Arranges Acquisition Financing for 116-Unit Monticello Apartments in Fort Worth, Texas

by Channing Hamilton

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 …

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