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.
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.
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 …
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.
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 …
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.
HOUSTON — JLL Capital Markets has negotiated the sale of River Oaks District, a 663,408-square-foot mixed-use asset in Houston. JLL represented the undisclosed seller in the deal. The buyer was Fertitta Entertainment Inc. JLL’s Barry Brown, Erin Lazarus, Colby Mueck, Ryan West, Jeff Hollinden and Dustin Selzer advised in the transaction. River Oaks District includes a 279-unit apartment community, as well as 302,668 square feet of retail and 67,060 square feet of office space. The five-story Grey House Apartments serves as the multifamily component. The community offers amenities such as …
LAVON, TEXAS — ONM Living has broken ground on The Cottages at Lavon Lake, a 268-unit build to rent community in the Dallas suburb of Lavon. The property is situated near the 1,500-acre Elevon master plan development in eastern Collin County. The complex will offer studio, one-, two- and three-bedroom layouts ranging from 340 to 1,230 square feet in size. After the completion of land development, vertical construction is expected to begin in May 2025. The first move-ins are slated for early 2026, with full completion in January 2027.
TEXARKANA, TEXAS — A joint venture between Reynolds Asset Management and Newport Capital Advisors has purchased two communities totaling 360 units in Texarkana, near the Texas-Arkansas border. The two properties were Westridge Apartments (176 units) and Park at Summerhill (184 units). The assets traded hands for $23 million. John Hamilton of Marcus & Millichap brokered the deal. Allan Edelson and Joe Tarantino of Walker & Dunlop originated an undisclosed amount of Fannie Mae acquisition financing on behalf of the joint venture, which plans to invest $3 million in capital improvements …
AUSTIN, TEXAS — Muskin | Elam Group has arranged the sale of Mint House at The Hatchery, a 30-unit community located at 49 Navasota Street, just southeast of downtown Austin. Daniel Elam and Lyles Carter of Muskin | Elam Group represented the undisclosed seller in the off-market transaction. Vista Bank provided acquisition financing on behalf of the buyer, Resolute Capital. The seller was operating the property as a short-term rental facility at the time of the sale.