Texas

NHH Berry in Houston

HOUSTON — New Hope Housing will break ground on two affordable housing developments in Houston — NHH Gray and NHH Berry — this October. Amegy Bank provided $50 million in financing for the project. NHH Berry will offer 180 one-, two- and three-bedroom apartments. NHH Gray will include 135 units in one- and two-bedroom floor plans. Both communities will host on-site Bezos Academy locations, which will provide free pre-school services to residents. NHH Gray and NHH Berry are scheduled to be completed in July 2025. Income restrictions for the two …

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PASADENA, TEXAS — An affiliate of Olive Tree Holdings has completed the $4 million renovation of The Life at Beverly Palms, a 308-unit community in the eastern Houston suburb of Pasadena. The Life at Beverly Palms was originally built in 1971. Units come in one-, two- and three-bedroom floor plans. Unit interiors received new paint and windows, while exterior upgrades included refreshed sidewalks, roofs and landscaping. Olive Tree Holdings also updated the amenity spaces, which include a community room, pool, picnic area, laundry center, dog park and playground.

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The Citadel at Elgin in Houston

HOUSTON — The NHP Foundation has received $1.5 million in capital grant subsidy funding from The Corp. for Supportive Housing to offset costs incurred for the construction of 11 units of affordable housing at The Citadel at Elgin in Houston. The community opened in the summer of 2023 and is The NHP Foundation’s fifth affordable community in the city. Income restrictions for The Citadel at Elgin were not disclosed. Financing for the project’s development included $15 million of Citibank construction and permanent debt financing with tax exempt bonds issued by …

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IRVING, TEXAS — Marcus & Millichap has brokered the sale of Tucasa Townhomes, a 128-unit community in the Dallas suburb of Irving. Al Silva, Ford Braly and Dylan York of Marcus & Millichap represented the undisclosed seller and procured the buyer, an out-of-state partnership. According to Apartments.com, Tucasa Townhomes was built in 1964. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool and a courtyard.

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ROUND ROCK, TEXAS — Harbor Group International has acquired The Warner, a 336-unit complex in the north Austin suburb of Round Rock. Newmark’s Patton Jones facilitated the transaction. The Warner was built in 2022. Community amenities include a fitness center, a pool with outdoor kitchens, a lounge, dog park and a parking garage with EV charging stations. The Warner was 98 percent leased as of July 2023. The property is located near several tech company campuses, including Dell’s corporate headquarters, Apple’s Austin campus and Samsung’s semiconductor manufacturing facility, which is scheduled for completion in …

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Archer Stone Canyon Apartments in San Antonio

SAN ANTONIO — The Milestone Group has acquired Archer Stone Canyon Apartments, a 228-unit value-add community in San Antonio. According to Apartments.com, the property was built in 2005 and offers units in one-, two- and three-bedroom floor plans. Amenities include a business center, clubhouse, lounge, fitness center, pool and a playground. The Milestone Group purchased the complex through an assumption of the existing Freddie Mac loan. The purchase price was not disclosed.

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Depot on Main in Burleson, Texas

BURLESON, TEXAS — Locally based developer Realty Capital Residential has begun leasing Depot on Main, a 275-unit project in Burleson, which is located 16 miles south of Fort Worth. Depot on Main rises five stories in the city’s Old Town district. The building offers one- and two-bedroom units. Amenities include a pool with a tanning deck, coworking lounge, coffee bar, rooftop deck and entertainment terrace, dog park fitness center and outdoor grilling and dining areas. Rents begin at $1,365 per month for a one-bedroom apartment.

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KILLEEN, TEXAS — Colliers Mortgage has provided a Fannie Mae loan for the refinancing of Hillcrest Apartments in Killeen, a city in Bell County, Texas. Fritz Waldvogel originated the seven-year, interest-only loan through a partnership with Old Capital Lending. The borrower was not disclosed. Hillcrest Apartments was built in 1974. The community offers 60 units in one- and two-bedroom floor plans. 

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PESADENA, TEXAS — Greystone has arranged a $20.9 million Fannie Mae multifamily affordable housing loan for the acquisition of Parkside Place, a garden-style affordable community in the Houston suburb of Pasadena. The borrower was not disclosed. Michael Zampetti originated the loan. Parkside Place comprises 321 apartments across 27 buildings on an 11.3-acre site. The property was consisted in 1969 and was renovated in 2018. Amenities include two pools, a laundry facility, business center, and private patios. Income restrictions for the community were not disclosed.

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CORPUS CHRISTI, TEXAS — Northmarq has brokered the sale of Coral Cay Apartments, a 109-unit community in Corpus Christi off the Gulf of Mexico. Sparkle Asset Management sold the property to an affiliate of SPV Property Management for an undisclosed price. Coral Cay Apartments was built in 1970 and features an average unit size of 955 square feet. The property was 97 percent occupied at the time of sale. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented both parties in the deal. Cheryl Higley arranged acquisition …

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