Texas

Presidium Completes First Phase of Presidium Berkshire in Fort Worth, Texas

by Channing Hamilton July 21, 2023

FORT WORTH, TEXAS — Presidium has completed the first phase of Presidium Berkshire, a 340-unit community in Fort Worth. At full build-out, Presidium Berkshire will be a 1,100-unit, 26-acre development. The project currently spans 352,000 square feet in the North Fort Worth area of the city. Units come in studio, one-, two- and three-bedroom floor plans with rents ranging from $1,560 to $2,780. Amenities include a clubroom, bar, co-working lounge, pool, demonstration kitchen, fitness center, dog park, car wash and EV chargers. O’Brien Architects designed the property. Phase 2 is …

July 21, 2023

Unnamed project in the Grand at Aliana shopping center in Katy, Texas.

Development News Texas

NewQuest Residential to Break Ground on $62 Million Apartment Project in Katy, Texas

by Channing Hamilton July 18, 2023

KATY, TEXAS — NewQuest Residential will begin construction on a $62 million development in the Houston suburb of Katy this September. The property is located on an 11-acre site in the Grand at Aliana shopping center. The project will comprise 294 units across 11 residential buildings, as well as a clubhouse. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, business center with co-working space and conference room, event space, grilling stations, an outdoor lounge and a dog park. Humphreys & …

July 18, 2023

Investment Sales News Texas

Newmark Arranges Sale of 612-Unit Signature Ridge in San Antonio

by Channing Hamilton July 18, 2023

SAN ANTONIO — Newmark has brokered the sale of Signature Ridge, a complex in San Antonio’s South Texas Medical Center/USAA employment hub. Patton Jones, Matt Michelson and Andrew Dickson represented the undisclosed seller. Braden Harmon and Hank Glasgow arranged the debt financing on behalf of the buyer. Signature Ridge offers 612 units in one-, two- and three-bedroom floor plans. Amenities include a fitness center, dog park, two pools and a clubhouse with a full kitchen and arcade area.

July 18, 2023

Finance News Texas

JLL Arranges $255 Million Credit Facility for Single-Family Rental Portfolio Across Texas

by Channing Hamilton July 18, 2023

DALLAS — JLL has arranged a $255 million credit facility for SimplyHome, a Houston-based developer of single-family rental properties. The developer’s holdings encompass more than 10,000 units across 100 submarkets. Colby Mueck, Matthew Putterman, Laura Brown and Davis Burnett of JLL secured the credit facility though Churchill Real Estate. The facility refinanced an initial portfolio of homes located in the Houston, Dallas-Fort Worth, San Antonio and Bryan/College Station markets.

July 18, 2023

Development Finance Investment Sales News Texas

Palladium USA Breaks Ground on $48 Million Palladium McKinney in Dallas Suburb

by Channing Hamilton July 10, 2023

MCKINNEY, TEXAS — Palladium USA has begun construction on Palladium McKinney, a $48 million, 172-unit community in the Dallas suburb of McKinney. The project is being developed in partnership with the McKinney Housing Finance Corporation. The Texas Department of Housing and Community Affairs issued $23 million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust. PNC Bank provided $19 million of equity for this placement. Kim Parker of Dynamic Commercial Real Estate represented Palladium in the purchase of the land. James Craig of Craig International represented the seller. Palladium …

July 10, 2023

Industry Voices Midwest Northeast Operations Southeast Texas Western

How Alternative Payment Systems Support White House ‘Renter’s Bill of Rights’

by Channing Hamilton July 10, 2023

— By Brian Ball and Revital Gadish, co-CEOs, Qira — Much of the news about property technology (proptech) concerns the physical features of apartment buildings — for example, appliances such as smart thermostats that save energy and money, or keyless entry and monitoring systems that are more convenient and secure. However, proptech also addresses intangible concerns, such as the societal push to give more power to renters in their relationships with owners and managers. The sector is rethinking how renters pay security deposits and monthly rents in ways that support …

July 10, 2023

Investment Sales News Texas

Brazos Residential Acquires The Thread Apartments in Dallas

by Channing Hamilton June 26, 2023

DALLAS — Brazos Residential has purchased The Thread Apartments, a 606-unit garden-style community in Dallas. Northmarq’s Taylor Snoddy brokered the deal and Kevin Leamy arranged the financing. The Thread Apartments was built in three phases between 1969 and 1978. The community offers studio, one- and two-bedroom floor plans, according to the property website. This acquisition marks Brazos Residential’s sixteenth asset since the firm’s inception in 2022.

June 26, 2023

Build-to-Rent Development Features Midwest News Northeast Southeast Texas Western

RentCafe: Number of New Build-to-Rent Projects is Skyrocketing

by Channing Hamilton June 19, 2023

The construction of new build-to-rent (BTR) homes hit a record in 2022, with more than 14,500 houses completed, according to a RentCafe analysis of Yardi Matrix data. This is a 47 percent increase in deliveries from 2021. Now, approximately 44,700 BTR homes are under construction across America, triple the number of new homes completed in 2022. Prior to 2020, RentCafe notes, only about 6,000 BTR units were completed annually. RentCafe cited data from the firm’s sister company, Yardi Matrix. The data includes properties defined as single-family homes for rent that are in build-to-rent, …

June 19, 2023

Berkadia Berkadia Feature Build-to-Rent Content Partner Development Features Industry Content Leasing & Marketing Midwest Northeast Southeast Texas Western

Single-Family Rental, Build-to-Rent Sector Increases Supply Volume, Attracts Institutional Capital

by Sarah Daniels June 12, 2023

By Jeff Coles, Berkadia Over the last 15 years, even during the Great Recession, single-family rentals continued to deliver excellent returns through appreciation and rental income. As demand for the sector has increased significantly, driven by changing migration patterns, many investors are shifting their investment strategies to include single-family rental/build-to-rent homes (SFR/BTR), also referred to as built for rent (BFR) houses. Development and Interest in SFR/BTR Despite recessionary rumors, development is continuing, often undertaken by some of the leading developers in the for-sale single-family market. Also, institutional investors have shown …

June 12, 2023

Colinas Ranch Apartments in Irving, Texas

Investment Sales News Texas

Eagle Property Capital Investments Sells Colinas Ranch Apartments in Dallas Suburb

by Channing Hamilton May 31, 2023

IRVING, TEXAS — Eagle Property Capital Investments (EPC) has sold Colinas Ranch Apartments, a 160-unit apartment community in the northwest Dallas suburb of Irving, to an undisclosed buyer. The property was built in 1971 and acquired by EPC Multifamily Partners IV, LLC and RealtyMogul 89 in October 2018. EPC renovated the property with updated apartment interiors and common areas, new amenities and water and energy conservation features. According to Apartments.com, the property currently offers one-, two- and three-bedroom units featuring stainless steel or black appliances, granite counter tops, electric fireplaces …

May 31, 2023

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