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Cortland Riverside in Fort Worth, Texas
Investment SalesNewsTexas

IPA Brokers Sale of 374-Unit Community in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cortland Riverside, a 374-unit property in Fort Worth. Built in 2020, the garden-style community consists of two- and three-story buildings. The property offers a mix of two- and three-bedroom apartments with an average size of 1,014 feet.  Tenants have access to amenities such as a pool with a sundeck, fitness center and private garages. Select units feature energy-efficient stainless-steel appliances and walk-in closets. Cortland Riverside was 95 percent occupied at the …

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The Larkspur in Victor, Idaho
Company NewsNew YorkNewsNortheastTexas

Franklin BSP Realty Trust to Acquire Mortgage Originator NewPoint Holdings

by Channing Hamilton

NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator based in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals. Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties across the nation. The company operates as both a direct lender and third-party …

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Encore 380 Apartments in Aubrey, Texas
Investment SalesNewsTexas

SPI Advisory Purchases 416-Unit Community Near Dallas

by Channing Hamilton

AUBREY, TEXAS — SPI Advisory, an investment firm with offices in Dallas and Austin, Texas, has purchased Encore 380 Apartments, a 416-unit asset in Aubrey, approximately 50 miles north of downtown Dallas. Eastdil Secured represented the undisclosed seller in the deal. Formerly known as Century 380 Apartments, the garden-style community was built in 2017. SPI plans to renovate the community with upgrades to the property exterior, common areas and amenity spaces. The new ownership will also add washers and dryers to all units.

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Firefly in Dallas
From the MagazinesMarket ReportsOperationsTexas

Will Dallas Rents Make a Comeback This Year?

by Channing Hamilton

There is a lot for a multifamily investor to like about Dallas. The metro area has benefitted from a steady influx of new companies and new jobs for the past decade, and there is no sign that this growth is letting up.  In the past five years alone, Frontier Communications (2023), Caterpillar (2022), AECOM (2021) and CBRE (2020) have all moved their corporate headquarters to Dallas, and the area has become a major U.S. financial hub, second only to New York City and Chicago. JP Morgan Chase now has more …

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Investment SalesNewsTexas

CenterSquare Acquires 352-Unit Community Near Dallas

by Channing Hamilton

FRISCO, TEXAS — CenterSquare has acquired Sorrel Phillips Creek Ranch, a 352-unit asset in Frisco, 30 miles north of downtown Dallas, in an off-market transaction. The community offers one-, two- and three-bedroom apartments. The acquisition was made on behalf of CenterSquare’s Value-Added Fund VI. The new ownership plans to renovate the units with new countertops and cabinets, add laminate vinyl plank to the upper floors and install a technology package in addition to updating the fitness center and tenant lounge area.

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Investment SalesNewsTexas

UC Funds Provides $11 Million Acquisition Loan for Northeast Texas Portfolio

by Channing Hamilton

AMARILLO, LUBBOCK AND PLAINVIEW, TEXAS — UC Funds, a Boston-based debt fund, has provided an $11 million acquisition loan for a portfolio of four properties totaling 275 units in northwest Texas. Known as the Medlock Portfolio, the communities are located in Amarillo, Lubbock and Plainview. The undisclosed sponsor will use a portion of the proceeds to fund stabilization and lease-up costs. The loan carries an 18-month term. Further details of the transaction were not disclosed.

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Investment SalesNewsTexas

AvalonBay to Acquire Metro Dallas Portfolio for $431.5 Million

by Channing Hamilton

DALLAS — AvalonBay Communities, a multifamily REIT headquartered in Arlington, Virginia, has agreed to acquire a portfolio of six communities totaling 1,844 units in the Dallas-Fort Worth metroplex. BSR REIT sold the properties for $431.5 million. The properties — Auberry at Twin Creeks, Satori Frisco, Vale Frisco, Aura Benbrook, Lakeway Castle Hills and Wimberly — were built between 1995 and 2021 and range from 216 to 349 units. The deal is expected to close in late March. AvalonBay acquired the portfolio in conjunction with two properties near Austin, Texas, which sold …

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The Flats at 183 in Irving, Texas
Investment SalesNewsTexas

AptVest Sells 228-Unit Community in Metro Dallas

by Channing Hamilton

IRVING, TEXAS — AptVest has sold The Flats at 183, a 228-unit community in Irving, 13 miles west of downtown Dallas, for an undisclosed price. Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller. The identity of the buyer was not disclosed. Located at 3328 Willow Creek Drive, The Flats at 183 spans 127,680 square feet across 19 buildings. The property was originally built in 1968 and has undergone roughly $4.1 million in renovations since 2021, including interior unit upgrades, …

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Investment SalesNewsTexas

AvalonBay Acquires Two Communities Near Austin for $193 Million

by Channing Hamilton

BEE CAVE AND GEORGETOWN, TEXAS — AvalonBay Communities, a multifamily REIT based in Arlington, Virginia, has agreed to acquire Cielo and Retreat at Wolf Ranch, two properties located near Austin, for a combined purchase price of $193 million. The seller is BSR REIT, and the deal is expected to close in late March. Cielo is a 554-unit community in Bee Cave, roughly 17 miles west of Austin. The property was constructed in 2015. Retreat at Wolf Ranch is located 30 miles north of Austin and was built in 2017. The …

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Valley Ridge in Rossville, Georgia
FeaturesFinanceFrom the MagazinesInvestment SalesMidwestNortheastSoutheastTexasWestern

Stage Set for Late-Year Uplift in 1031 Deals

by Channing Hamilton

Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary.  The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …

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