NEW BRAUNFELS, TEXAS — SPI Advisory has acquired Hawthorne Riverside, a 164-unit complex in the northwest San Antonio suburb of New Braunfels. The seller and sales price were not disclosed. Built in 1995, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, volleyball court, cybercafé, pet park, resident clubhouse, business center and outdoor grilling and dining stations. SPI Advisory plans to implement a value-add program and rebrand the property as Riverbend Apartments.
MESQUITE AND GRAND PRAIRIE, TEXAS — S2 Capital has acquired two properties totaling 768 units in the Dallas-Fort Worth metropolitan area. CBRE’s Danny Baker and William Hubbard represented the sellers in the deals. Harry Krieger represented S2 Capital in securing financing. The properties are Falltree in Mesquite and Silverbrook in Grand Prairie. Falltree is a 126-unit property located at 19200 Lyndon B Johnson Fwy. S2 Capital will renovate all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style plank flooring and contemporary fixtures. The clubhouse and pools …
HOUSTON — Partners Real Estate has brokered the sale of a building located at 4218 J St. in Houston. Ryan DeGennaro represented the seller, Mell Investment Group, in the transaction. Elaine Lan Nguyen of HomeSmart represented the buyer. The building offers eight apartments. According to LoopNet Inc., the property was built in 1963 and renovated in 2022.
MESQUITE, TEXAS — Marcus & Millichap brokered the sale of Landmark at Courtyard Villas, a 256-unit property in the Dallas suburb of Mesquite. The property was built in 1999 on 17 acres adjacent to Samuell Farm North regional park. The unit mix includes 120 one-bedroom units, 120 two-bedroom units and 16 three-bedroom units. Amenities include a fitness center, swimming pool, laundry facilities and a playground. ShainRealty Capital acquired the asset from a California-based owner in a 1031 exchange. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas …
— By Ryan Hanks, CEO, Madison Capital — The combination of the flight from urban markets to the suburbs in the work-from-home era, the lack of accessible housing inventory and the rising cost of renting has led to a housing and affordability crisis for middle-class Americans nationally. Faced with its own challenges, including rising labor costs and an increasingly uncertain economic outlook, the multifamily industry has largely struggled to crack the code to arrive at a solution. The good news is that forward-thinking developers are deploying and refining strategies and …
RICHMOND, TEXAS — JLL Capital Markets has brokered the sale of The Wildwood Apartments in the Houston suburb of Richmond. Price Realty Corp. acquired the asset from Allen Harrison Co. for an undisclosed price. JLL also arranged a seven-year loan through New York Life Real Estate Investors for the new owner. The Wildwood Apartments was built in 2022. The community features one- and two-bedroom units. Amenities include a conservatory, dog parks, gated entry, a package room, a clubhouse with library and kitchen, a pool and a fitness center. Dustin Selzer led …
GEORGETOWN, TEXAS — NexMetro Communities has begun the development of Avilla Berry Creek, a 25-acre build-to-rent complex in the Austin, Texas suburb of Georgetown. Mosaic is the general contractor for the project. Avilla Berry Creek comprises 224 single-family detached homes and duplexes. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool and clubhouse, community garden and a dog park. The total development cost of the project is $66 million.
— By Revital Gadish, CEO, Qira — More than a third of Americans rent their homes, according to the U.S. Census Bureau. As such, the political landscape is evolving to fit their needs. An influx of new laws and proposed legislation has ensued, aimed at increasing transparency and fairness and avoiding financial hardship for tenants. Much of the ensuing legislation is focused on security deposits. The strictest of the bills bans security deposits entirely, while others are capping the amount landlords can charge as a security deposit. So far, Texas, …
PFLUGERVILLE, TEXAS — A joint venture consisting of High Street Residential (the residential subsidiary of Trammell Crow Company) and CBRE Investment Management has broken ground on The Merle on Howard in the Austin suburb of Pflugerville. Meeks Partners is the project architect. Provident General Contractors is the general contractor. The project will be built in three phases on a 60-acre site. The first phase spans 17 acres and will comprise 444 apartments across 15 garden-style buildings. Amenities will include a 11,000-square-foot clubhouse with co-working space, fitness center, golf simulator, EV …
PLANO, TEXAS — Rosewood Property Co. has begun leasing The Ludlow, a 326-unit property in Plano. The community is located within the 156-acre mixed-use Heritage Creekside development, which was also developed by Rosewood Property Co. features amenities including a clubroom, co-working space, fitness center, golf simulator and pool area. Units come in one-, two- and three-bedroom floor plans. Veritex Bank provided a construction loan for The Ludlow. Hensley, Lamkin, Rachel Inc. designed the project. LandDesign serves as the landscape design architect, B2 Architecture + Design is the interior designer, and …