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.
WILMER, TEXAS — Asset Living has been awarded management of Marketplace at Liberty Crossing, a 318-unit affordable housing development in the Dallas suburb of Wilmer. The project is the second phase of the development of the Liberty Crossing Master Planned Community. Marketplace at Liberty Crossing will offer one-, two-, three- and four-bedroom units. The property will also include ground-floor retail space. A construction timeline and income restrictions for the community were not disclosed.
AUSTIN — Legacy Partners and Bridge Investment Group have opened Camber Ranch, a 483-unit community in Austin. The development includes 22 two- and three-story buildings on a 35.2-acre site. Units will come in studio, one-, two- and three-bedroom homes ranging from 438 to 1,500 square feet in size. Monthly rental rates start at $1,375. Amenities include a pool, fitness center with a yoga and spin studio, outdoor grilling areas, demonstration kitchen, esports gaming center, co-working lounge, podcast studios, a dog park and bike repair shop. The property was designed by Humphreys …
FORT WORTH — JPI has broken ground on Jefferson Eastchase, a 398-unit community in Fort Worth. The complex will offer units in one-, two- and three-bedroom floor plans. Planned amenities include a pool with a deck and cabana, clubroom, fitness center and yoga studio, co-working lounge, pocket park and dog park. The first move-ins at the community are slated for the third quarter of 2026. The development team also includes DLR Group architects, Integrity Structural as the structural engineer, Kimley-Horn as the civil engineer and Land Design as the landscape …