SAN ANTONIO — Colliers Mortgage has provided $16.8 million in HUD-insured, construction-to-permanent financing for Culebra Road Apartments, an affordable housing project in San Antonio. Jeff Rogers of Colliers Mortgage originated the financing, which was structured with a 40-year term. The borrower was an entity doing business as Culebra Road Apartments LP. Culebra Road Apartments will offer 199 one-, two- and three-bedroom units. The community will be entirely income restricted, although exact restrictions were not disclosed. Planned amenities include a pool, fitness center, playground, business center, clubhouse, activities room and outdoor …
AUSTIN, TEXAS — JLL Capital Markets has arranged construction financing for Lirica East Austin, a 338-unit project in the Central East Austin neighborhood of Austin. The borrower was Central Southwest Texas Development, doing business as CSW Development. JLL worked on behalf of the borrower and the equity partner, Blueprint Local, to secure the loan. Lirica East Austin will offer studio, one-, two- and three-bedroom units with an average size of 799 square feet. Planned amenities include a pool, clubroom, fitness center, co-working space, sky lounge, courtyard and dog park. The …
KATY, TEXAS — Wayfinder Real Estate and Read King Commercial Real Estate have broken ground on The Oak at Katy Park, a 348-unit community in the Houston suburb of Katy. The property will offer amenities such as a pool, pickleball court, co-working space, sauna, outdoor kitchens and a fitness center. The community is scheduled to be completed in mid-2025, with the first residents expected to move in earlier that year. Meeks Architects designed the property. Norris Design is the landscape architect. Wayfinder Design is the interior designer. OHT Construction is …
TEMPLE, TEXAS — The Multifamily Group (TMG) has arranged the sale of Midtown Apartments in Temple, approximately 70 miles north of Austin. Paul Yazbeck of TMG represented the seller in the deal. Jon Krebbs procured the buyer. Both parties requested anonymity. Midtown Apartments was built in 1971. The community offers one- and two-bedroom units, as well as amenities such as a pool, fitness center, basketball court, clubhouse and a picnic area.
AUSTIN, TEXAS — Matthews Real Estate Investment Services has negotiated the sale of Marsol Apartments, a 22-unit complex located just northwest of Austin’s downtown area. The property was originally constructed in 1972 and was recently renovated. Richard Waterhouse and Tyler Marshall of Matthews Real Estate Investment Services represented the seller in the deal. Neither the seller nor buyer were disclosed.
HOUSTON — 35 South Capital has acquires Village Place Apartments, an 84-unit community in Houston’s Hedwig Village neighborhood. Newmark brokered the sale of the property. The seller and sales price were not disclosed. Village Place Apartments comprises 13 buildings on a 3.5-acre site. According to Apartments.com, the community offers units in one- and two-bedroom floor plans. Amenities include a pool, fitness center, business center, clubhouse, outdoor grilling and dining stations and onsite laundry facilities.
CYPRESS, TEXAS — Trademark Property Co. has purchased 37 acres in the northwestern Houston suburb of Cypress to develop a mixed-use project. The site is located within the 1,300-acre Dunham Pointe master-planned development. Preliminary plans for the development call for 500 apartments, as well as 225,000 square feet of retail, restaurant and entertainment space. Trademark Property Co. plans to start construction in the second quarter of 2025 and open the development in late 2026 or early 2027.
HOUSTON — ECI group (ECI) has sold The Columns at Westchase, a 318-unit community in Houston, to Mosaic Residential for an undisclosed price. The Columns at Westchase was built in 1999 and acquired by ECI in 2018. Since 2018, ECI has renovated the community with updates to unit interiors, the clubhouse, leasing office, pool, fitness center, and BBQ pavilion as well as unit exteriors, roofs and landscaping. David Mitchell at Newmark represented the seller in the deal.
FORT WORTH, TEXAS — Greysteel has arranged the sale of University Village, a 16-unit property in Fort Worth. The community is located less than a block from Texas Christian University, and is in proximity to Kroger Fresh Fare, two national banks, multiple coffee shops, a dozen fast casual restaurants and a 7-Eleven. Andrew Mueller of Greysteel’s national multifamily team negotiated the sale on behalf of the undisclosed buyer and seller.
DALLAS — JPI has begun leasing Jefferson Cedar Ridge in located near the southwest corner of Interstate 20 and Cedar Ridge Drive in Dallas. The development is located less than four miles from the Cedar Ridge Preserve, a 603-acre nature preserve. According to Apartments.com, the complex features 360 units in one-, two- and three-bedroom layouts. Amenities include a fitness center, clubhouse, business center, pet play area and EV chargers.