Texas

Newmark Negotiates Sale of Three-Property Portfolio in Houston and Austin Metro Areas

by Channing Hamilton November 2, 2023

AUSTIN, KATY AND STAFFORD, TEXAS — Newmark has brokered the sale of the Long Star 3-pack, a three-property portfolio that totals 673 units across the Houston and Austin metropolitan areas. Nitya Capital sold the portfolio to Disrupt Equity for an undisclosed price. Zach Springer, Jim Young and Carter Mizell represented the seller in the transaction. The portfolio comprises Treehouse, Stonecreek and Waterstone Place. Treehouse, located at 2501 Wickersham Lane in Austin, encompasses 297 units on a 12.5-acre site. Stonecreek is located at 20000 Saums Road in Katy and offers 208 units with …

November 2, 2023

Investment Sales News Texas

Institutional Property Advisors Brokers Sale of 211-Unit The Audrey Near Dallas

by Channing Hamilton November 1, 2023

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey in the Dallas suburb of Mansfield. Carleton Cos. and M.R. Development sold the property to RPM and a fund managed by Roseview Investment Advisors for an undisclosed price. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope represented the sellers and procured the buyers. The Audrey is a garden-style community that was built in 2021. The property offers 211 units across three stories. Units feature nine-foot …

November 1, 2023

Build-to-Rent Finance News Texas

JLL Capital Markets Arranges Refinance for 142-Unit Build-to-Rent Community in San Antonio

by Channing Hamilton November 1, 2023

SAN ANTONIO — JLL Capital Markets has arranged the refinancing for Farm Haus, a 142-unit built-to-rent community in San Antonio. AHV Communities was the borrower. Matthew Putterman and John David Johnson led the JLL Capital Markets Debt Advisory team, which worked on behalf of the borrower to secure the four-year, fixed-rate loan through a life insurance company. Completed in 2022, Farm Haus offers units in two-, three and four-bedroom layouts. Units feature private yards, attached garages, smart home technology, stainless steel appliances and quartz countertops. Amenities include a lounge, community …

November 1, 2023

Investment Sales News Texas

Cooper Street Capital Purchases 174-Unit South Hill Apartments in San Antonio

by Channing Hamilton October 31, 2023

SAN ANTONIO — Cooper Street Capital has acquired South Hill Apartments, a 174-unit complex in southeast San Antonio. Zar Haro, Moses Siller, Bryan VanCura, Brian Booth and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. South Hill Apartments was built in 1965 and offers one-, two- and three-bedroom units. Amenities include three pools, tennis courts, a playground and a business center.

October 31, 2023

Development Leasing & Marketing News Texas

Urban Moment Begins Pre-Leasing YardHomes Juniper Pointe in San Antonio

by Channing Hamilton October 31, 2023

SAN ANTONIO — Urban Moment, an Austin-based developer, has begun pre-leasing YardHomes Juniper Pointe, a 248-unit community in San Antonio. Units will come in one-, two- and three-bedroom floor plans, with each unit having 250 square feet of private outdoor space. Amenities include a pool, fitness center, outdoor grilling and dining stations, an outdoor event lawn and green spaces. The first move-ins at the property are scheduled to begin after a grand opening ceremony in November.

October 31, 2023

Investment Sales News Texas

Marcus & Millichap Brokers Sale of 236-Unit Luna Vista in Fort Worth, Texas

by Channing Hamilton October 30, 2023

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of Luna Vista, a 236-unit complex in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were locally based investment groups that requested anonymity. The 32-building property was built in 1979 at the intersection of I-30 and Loop 820 on the city’s east side. The new owner plans to implement a value-add program.

October 30, 2023

Development Finance Investment Sales Market Reports Texas

Houston Landlords Fend Off Economic Challenges

by Channing Hamilton October 30, 2023

Houston apartment owners are still navigating through stormy weather, not just because hurricane season has kicked off. A surge in new supply, strains on net operating income (NOI) and capital markets pressures are testing the mettle of Houston developers and investors. “Without a doubt, the big story is all the challenges hitting from every direction: a very tight lending market, stubbornly high construction costs, interest rates and insurance costs,” says Dennis (D.J.) Blanchard, vice president of development and legal affairs with Sueba USA Corp. “Firms have to be well-positioned to …

October 30, 2023

Development Leasing & Marketing News Texas

Wolfe Investments Begins Leasing Four Cedars Apartments in Gunter, Texas

by Channing Hamilton October 27, 2023

GUNTER, TEXAS — Wolfe Investments has begun leasing Four Cedars Apartments in Gunter, about 52 miles north of Dallas. The property offers 88 one- and two-bedroom units, as well as amenities including pool, clubhouse and outdoor grilling and dining areas. Rents start at $1,450 per month for a one-bedroom apartment. The first move-ins are expected to begin this December.

October 27, 2023

Development Finance News Texas

Woodfield Development, ApexOne Investment Partners Secure Construction Financing for Riley’s Pointe in Austin Suburb

by Channing Hamilton October 27, 2023

SAN MARCOS, TEXAS — Woodfield Development and ApexOne Investment Partners have secured construction financing for Riley’s Pointe, a 360-unit development in the Austin suburb of San Marcos. The garden-style community will rise three stories within the larger Riley’s Pointe master planned community, which will also include commercial and retail space. A construction timeline for the project was not disclosed. Adam Bieber and Alec Jenkins of BWE arranged a senior loan through a major regional bank, and a preferred equity investment through a Private Equity firm.

October 27, 2023

Investment Sales News Texas

Transwestern Real Estate Services Negotiates 1031 Exchange of Bellrock Bishop Arts in Dallas

by Channing Hamilton October 25, 2023

DALLAS — Transwestern Real Estate Services has brokered the sale of Bellrock Bishop Arts, a 207-unit community located at 1836 W. Davis St. in Dallas. Transwestern’s Tyler Gauntt, Rye Hinkle, Chris Stutzman and Bryan McMurrey represented the buyer, The Paskin Group, in the 1031 exchange. Bellrock Bishop Arts was built in 2012. The asset comprises two residential buildings and offers amenities such as a fitness center, dog park, pool, clubhouse and social lounge. The property was 95 percent occupied at the time of sale.

October 25, 2023

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