Texas

2500 Cedar Springs Road in Dallas

DALLAS — Lincoln Property Co. has acquired a four-acre site at 2500 Cedar Springs Road in Dallas’s Uptown neighborhood. The firm plans to develop a mixed-use community featuring 250 apartments, as well as 400,000 to 500,000 square feet of office space, a 200-room hotel, 25,000 square feet of food-and-beverage retail space and green spaces. A development timeline for the project was not disclosed. Lincoln Property Co. will handle leasing for the project in-house, with Jake Young and Worthey Wiles leading the effort.

0 FacebookTwitterLinkedinEmail

HOUSTON — Marcus & Millichap has brokered the sale of Rosslyn Heights Apartments, a 60-unit complex in Houston. Rosslyn Heights Apartments was built in 1985. The property offers two-bedroom units and amenities such as a playground. Kyle Devillier, Gregory Austin, Travis Austin and Jackson Hart of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were limited liability companies that requested anonymity.

0 FacebookTwitterLinkedinEmail

IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan for Landen Apartment Homes in Irving. Fritz Waldvogel of Colliers Mortgage originated the loan, which features a five-year term, through a partnership with Old Capital Lending. The borrower was an entity doing business as NH Investments LAH LLC. Landen Apartment Homes comprises 134 units across four two-story buildings. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool, playground and outdoor kitchen and grilling stations.

0 FacebookTwitterLinkedinEmail
Domain at Midtown Park in Dallas

DALLAS — A partnership consisting of investment firms Waterford Property Co., The Vistria Group and Northern Liberties has acquired Domain at Midtown Park, a 395-unit community in North Dallas. Walker & Dunlop originated Freddie Mac acquisition financing for the deal. Built in 2016, Domain at the Park offers amenities such as a pool, clubhouse, fitness center, business center, outdoor grilling and dining stations, dog park and a golf simulator. Concurrent with the sale, the new owners also entered into a 99-year ground lease with the Dallas Housing Finance Corp. to …

0 FacebookTwitterLinkedinEmail

KINGWOOD, TEXAS — InterUrban Cos. has sold Woodland Hills Village, a 260-unit complex located in Kingwood, a master-planned development north of Houston. The property offers one-, two- and three-bedroom units. Amenities include a pool and fitness center. The buyer, an undisclosed Dallas-based investment firm, plans to implement a value-add program. Kyle Whitney, Chris Young, Joey Rippel and Jeffrey Skipworth and Chris Curry of Berkadia represented InterUrban Cos. in the deal.

0 FacebookTwitterLinkedinEmail
BLVD at Medical Center in San Antonio

SAN ANTONIO — Hamilton Zanze has sold BLVD at Medical Center, a 248-unit community in San Antonio. BLVD at Medical Center was built in 2016 and features one-, two- and three-bedroom units that average 776 square feet in size. Amenities include a pool, yoga studio, fitness center, outdoor kitchen, playground, business center and valet trash service. Hamilton Zanze originally acquired the asset in 2016. The firm sold the community after completing a comprehensive capital improvement program, which included upgrades to the apartments, building exteriors, common-area amenities and landscaping.

0 FacebookTwitterLinkedinEmail

KINGWOOD, TEXAS — Berkadia has arranged the sale of Woodland Hills Village, a 260-unit property located 30 minutes north of Houston in Kingwood. Kyle Whitney, Chris Young, Joey Rippel, Jeffrey Skipworth and Chris Curry of Berkadia Houston completed the sale on behalf of the seller, Colorado-based Interurban Cos. The buyer was a Dallas-based value-add firm. Woodland Hills Village is located at 2139 Lake Hills Drive. The community offers one-, two- and three-bedroom units with walk-in closets and patios or balconies. Amenities include a pool, fitness center, laundry facilities, covered parking and …

0 FacebookTwitterLinkedinEmail

AUSTIN, TEXAS — EBSC Lending has provided a $59 million construction loan for a mixed-use development underway in Austin. Martin Alex of EBSC Lending originated the financing. Aaron Donovan and Brian Stark led the underwriting and closing efforts. The borrower, a local builder, will use the funds to complete construction of the project and to refinance existing debt. Once constructed, the project will comprise three buildings and 201,821 square feet. The developer acquired the site in December 2020. The project is slated to complete in 2025.

0 FacebookTwitterLinkedinEmail
Mike Miller, Managing Director, Berkadia

Along with Dallas and Houston, San Antonio is one of three powerhouse multifamily markets that make up the Texas Triangle. Multifamily & Affordable Housing Business asked Mike Miller, managing director for Berkadia San Antonio, for his take on the metro area’s investment and development trends. MAHB: On the map, how does Berkadia define the San Antonio multifamily market?  Miller: Our team defines and services San Antonio proper as well as Boerne and New Braunfels, additionally, we cover the remainder of South Texas.   MAHB: Berkadia’s latest report card has deliveries as 7,895 units …

0 FacebookTwitterLinkedinEmail

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of two properties totaling 195 units in Bedford, northeast of Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer. The seller was a local private investor. The buyer was a Dallas-based partnership. Both parties requested anonymity. Avanti on Central and Avanti on Pipeline total 137 units and 58 units, respectively. Units come in one-, two- and three-bedroom floor plans.

0 FacebookTwitterLinkedinEmail