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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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One Rangers Way in Arlington, Texas
DevelopmentNewsTexas

Texas Rangers, Cordish Top Out 300-Unit One Rangers Way Apartments Near Dallas

by Channing Hamilton

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 …

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Banyan Kingsland Heights in Katy, Texas
Build-to-RentInvestment SalesNewsTexas

JLL Capital Markets Brokers Sale of 97-Unit Build-to-Rent Community in Katy, Texas

by Channing Hamilton

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, …

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Eleven600 Apartments in Dallas
Investment SalesNewsTexas

Anthem Development, ATX Acquisitions Purchase 216-Unit Eleven600 Apartments in Dallas

by Channing Hamilton

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.

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