Texas

Institutional Property Advisors Brokers Sale of 352-Unit The Clusters in Midland, Texas

by Channing Hamilton November 9, 2023

MIDLAND, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of The Clusters, a 352-unit asset in Midland. Churchill Forge acquired the asset from an out-of-state partnership. IPA’s Will Balthrope and Drew Garza, in conjunction with Tommy Lovell and Richard Robson of Marcus & Millichap, represented the seller and procured the buyer. Built in 1982 on 14 acres, The Clusters offers amenities such as basketball, racquetball, volleyball and tennis courts, walking trails and a pool. Units feature washers and dryers, fireplaces and a balcony or …

November 9, 2023

Investment Sales News Texas

Trion Properties Acquires 471-Unit Riverbend Apartments in Lancaster, Texas

by Channing Hamilton November 6, 2023

LANCASTER, TEXAS — Trion Properties has acquired Riverbend Apartments, a 471-unit complex in the southern Dallas suburb of Lancaster. Riverbend Apartments features 181 one-bedroom units and 290 two-bedroom units. Amenities include three pools and multiple play areas for children. The seller and sales price were not disclosed. Trion Properties plans to implement a value-add program for the community.

November 6, 2023

Affordable Housing Development News Texas

Schertz Housing Authority, The NRP Group Break Ground on 300-Unit Affordable Housing Community Near San Antonio

by Channing Hamilton November 6, 2023

SCHERTZ, TEXAS — A partnership between the Schertz Housing Authority and The NRP Group have broken ground on Aviator 1518, a 300-unit affordable housing development in Schertz. The project is financed through four percent housing tax credits allocated by the Texas Department of Housing and Community Affairs. Additional development partners include Bank of America, Bexar County, Texas Home Collaborative, Coats Rose, MTR Engineering and Alta Architects. Aviator 1518 will offer units in one-, two-, three- and four-bedroom floor plans. Units in the complex’s three-story central building are built with elevator-accessible …

November 6, 2023

Build-to-Rent Development News Texas

Wan Bridge Completes 127-Unit Build-to-Rent Project Near Dallas

by Channing Hamilton November 6, 2023

WAXAHACHIE, TEXAS — Texas-based owner-operator Wan Bridge has completed Sonata Estates, a 127-unit build-to-rent project in the Dallas suburb of Waxahachie. The community offers three- and four-bedroom townhome residences. Units range in size from 1,612 to 1,854 square feet. Rents start at $2,250 per month. Amenities include a pool and splash pad, playground, outdoor sports courts, picnic areas and baseball fields. Residents also have access to onsite maintenance services and a walking path that connects to a nearby park.

November 6, 2023

Investment Sales News 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

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