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Bishop Momo in Austin, Texas
DevelopmentNewsTexas

United Properties Delivers 274-Unit Bishop Momo in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Minneapolis-based developer United Properties has completed Bishop Momo, a 274-unit property located in the St. Elmo District of Austin. OHT Partners served as the general contractor. Belshaw Mulholland Architects designed the community. Bishop Momo offers studio, one- and two-bedroom apartments. Amenities include a pool, fitness center, multiple lounges, coffee bar, dog run, conference room, package lockers and grilling stations. The property also includes as 6,000 square feet of ground-floor retail space and structured parking.

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Rock Springs Duplexes in Round Rock, Texas
Build-to-RentInvestment SalesNewsTexas

RangeWater, Harbert Acquire 150-Unit Single-Family Rental Community Near Austin, Texas

by Channing Hamilton

ROUND ROCK, TEXAS — A partnership between Atlanta-based RangeWater Real Estate and Birmingham-based Harbert Management Corp. has acquired Rock Springs Duplexes, a single-family rental community located at 1338 Christopher Ave. in Round Rock, approximately 20 miles north of Austin. The seller and sales price were not disclosed.  Rock Springs Duplexes was built in two phases in 1985 and 1996. The unit mix includes 150 three-bedroom homes, which range from 968 to 1,280 square feet.  Each residence features an attached garage, driveway parking space and a fenced backyard. Units also include …

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Urban East in Austin, Texas
Affordable HousingInvestment SalesNewsTexas

JLL Arranges $55.5 Million Refinancing for Urban East in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — JLL has arranged a $55.5 million loan for the refinancing of Urban East, a 381-unit community in Austin. JLL arranged the floating-rate debt on behalf of the owner, a partnership between Battery Global Advisors, the Housing Authority of the City of Austin, River City Capital Partners and LDG Development. The direct lender was Goldman Sachs Alternatives. Recently built in 2023, Urban East offers studio, one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, private conference rooms, a rooftop lounge, resident clubhouse and kitchen, …

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DevelopmentLeasing & MarketingNewsTexas

AOG Living Opens 282-Unit The Sophie in New Braunfels, Texas

by Channing Hamilton

NEW BRAUNFELS, TEXAS — AOG Living has opened The Sophie, a 282-unit property located at 108 Oak Creek Way in New Braunfels, about 33 miles northeast of San Antonio. The Sophie features apartments in one-, two- and three-bedroom layouts. Amenities include a fitness center, business center and cyber lounge, clubhouse with clubroom and gaming area, pool with cabanas, dog park and pet wash station, courtyard Biergarten, sky lounge and package lockers. Tenants will also have access to grilling stations, a fire pit, electric vehicle chargers and carport and garage parking. …

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Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

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Winsted at White Rock in Dallas
Investment SalesNewsTexas

SPI Advisory Purchases 314-Unit Winsted at White Rock in Dallas

by Channing Hamilton

DALLAS — SPI Advisory has acquired Winsted at White Rock, a 314-unit property located in the Lakewood neighborhood of Dallas. The garden-style community was built in 1996. The previous ownership partially renovated the property. SPI Advisory plans to fully renovate the remaining units, enhance common areas and amenities and finish installing washers and dryers in all units. This marks SPI Advisory’s 49th acquisition in the Dallas-Fort Worth metropolitan area since the company’s inception in 2014. The Dallas-based firm now owns and operates about 4,000 units across metro Dallas and approximately 8,000 …

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Cantera in Carrollton, Texas
Investment SalesNewsTexas

Marcus & Millichap Brokers Sale of 172-Unit Cantera in Carrollton, Texas

by Channing Hamilton

CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Cantera, a 172-unit property in Carrollton, roughly 20 miles north of Dallas. Touro Co. and Catalyst Equity Partners sold the community to Cantera CRG LLC for an undisclosed price. Wesley Racht, Joey Murry, Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the asset on behalf of the seller and procured the buyer.  Cantera is located at 1910 S. Josey Lane. Built in 1969, the complex consists of 12 buildings on a 6.2-acre parcel. Units come in one- and two-bedroom floor …

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Lux on Main in Carrollton, Texas
Investment SalesNewsTexas

Cushman & Wakefield Arranges Sale of 352-Unit Lux on Main Apartments in Metro Dallas

by Channing Hamilton

CARROLLTON, TEXAS — Cushman & Wakefield has brokered the sale of Lux on Main, a 352-unit community in Carrollton, approximately 20 miles north of Dallas. RPM Living purchased the asset from Nimes Real Estate for an undisclosed price. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller in the deal. Lux on Main was constructed in 2019. The community offers studio, one- and two-bedroom units. Amenities include a pool, wellness center, resident lounge and a business center. The property also features 4,095 square feet of fully leased …

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Multifamily TheGuarantors Eben MacNeille
Affordable HousingContent PartnerFeaturesIndustry ContentLeasing & MarketingMidwestNortheastOperationsSoutheastStudent HousingTexasWestern

Renter Profiles Are Changing – How Multifamily Operators Can Minimize the Risks of Rent Default and More

by Sarah Daniels

Despite the persistent housing shortage, landlords are having a more difficult time qualifying potential residents, especially non-traditional applicants who don’t check the usual boxes for credit and employment history. Renters are also facing bigger hurdles for income, credit and up-front deposits. “It has become increasingly expensive and challenging to rent an apartment in the United States,” says Eben MacNeille, senior director of sales at TheGuarantors. The New York-based financial technology company serves the multifamily industry by providing lease guarantees, security deposit replacements and renters insurance and compliance solutions. Today’s renter …

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Company NewsFinanceInvestment SalesNewsOperationsPeople NewsTexas

IPA Capital Markets Hires Harry Krieger as Managing Director

by Channing Hamilton

DALLAS — IPA Capital Markets, a division of Marcus & Millichap, has hired Harry Krieger to the position of managing director. In this new role, Krieger will be responsible for placing debt for institutional clients. He will be based in Dallas but part of the firm’s Los Angeles-based IPA Capital Markets team, which is led by Brian Eisendrath and Cameron Chalfant. He will collaborate with the firm’s Texas-based IPA multifamily investment sales team — led by Drew Kile and Will Balthrope — to provide clients with capital markets services. Krieger …

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