Texas

Sola Westchase in Houston
Investment SalesNewsTexas

Eastham Capital, Mosaic Residential Acquire 318-Unit Sola Westchase in Houston

by Channing Hamilton

HOUSTON — Eastham Capital and Mosaic Residential have partnered to acquire Sola Westchase, a 318-unit community in Houston’s Westchase neighborhood. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI. Mosaic will oversee management services for the property. The acquisition price was not disclosed.  Sola Westchase was built in 1999 and is situated at 3354 Rogerdale Road. The property offers one-, two- and three-bedroom units that range from 626 square feet to 1,436 square feet in size. The average rent at the community is $1,400/month. …

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FinanceInvestment SalesNewsTexas

Colliers Mortgage Provides Acquisition Loan for Northwood Apartment Homes in Fort Worth

by Channing Hamilton

FORT WORTH, TEXAS — Colliers Mortgage has provided financing for the acquisition of Northwood Apartment Homes, a 100-unit community in Fort Worth. Fritz Waldvogel of Colliers Mortgage originated the five-year Fannie Mae loan through a partnership with Old Capital Lending. The borrower was not disclosed. Northwood Apartment Homes was built in 1972. The property comprises six two-story buildings and one clubhouse, as well as onsite laundry facilities and outdoor grilling and dining stations.

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DevelopmentNewsTexas

Henry Richardson Underway on Development of 260-Unit Community in Houston

by Channing Hamilton

HOUSTON — Developer Henry Richardson is building a 260-unit development at 1888 Brittmoore Road in Houston. Ted Trout Architect & Associates is designing the project, and Blazer Building is the general contractor. The complex will rise four stories on a six-acre site. Units will come in one- and two-bedroom floor plans. Amenities will include a fitness center, business center, clubhouse and a dog park. Preleasing is underway. The project is slated to deliver this summer.

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Investment SalesNewsTexas

Pagewood Purchases 152-Unit Costa Mesa in Houston

by Channing Hamilton

HOUSTON — Pagewood has purchased Costa Mesa, a 152-unit community in Houston. Amegy Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Costa Mesa comprises 12 buildings that each rise two stories. Units come in one- and two-bedroom layouts and range in size from 614 to 1,044 square feet. Amenities include a pool, clubhouse, playground, business center and onsite laundry facilities.

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Las Misiones Apartments in Mission, Texas
Investment SalesNewsTexas

Northmarq Brokers Sale of 118-Unit Las Misiones Apartments in Mission, Texas

by Channing Hamilton

MISSION, TEXAS — Northmarq has brokered the sale of Las Misiones Apartments, a 118-unit complex in the Rio Grande Valley city of Mission. McGuire Family Properties purchased the asset from a pair of private investors for an undisclosed price. Zar Haro, Moses Siller, Phil Grafe, Bryan VanCura and Brian Booth of Northmarq brokered the deal. Las Misiones Apartments was built in 2005. The property offers one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, playground, clubhouse, basketball court and a lounge.

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Brookside in Arlington, Texas
Investment SalesNewsTexas

Marcus & Millichap Brokers Sale of 288-Unit Brookside in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Brookside, a 288-unit asset in Arlington. Reap Capital acquired the property, which comprises 22 buildings, for an undisclosed price. Marcus & Millichap’s Racht, Nick Fluellen, Bard Hoover and Chris Pearson represented the seller in the deal. Amenities at Brookside include a pool, fitness center and three outdoor grilling stations. Apartments feature stainless-steel appliances, fireplaces, reserved parking, covered parking and walk-in closets.

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The Grove at La Frontera in Arlington, Texas
DevelopmentFinanceNewsTexas

JLL Capital Markets Arranges Construction Financing for The Grove at La Frontera Near Dallas

by Channing Hamilton

ARLINGTON, TEXAS — JLL Capital Markets has arranged a loan to facilitate the construction of The Grove at La Frontera, a 396-unit project in the Dallas suburb of Arlington. John Brownlee, Bo Beidleman and Chad Lisbeth of JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management. The Grove at La Frontera will include 336 apartment units, 60 single-family rental units and 10,000 square feet of ground-floor retail. Amenities include two pools, a fitness center, pickleball courts, a dog park and pet …

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Lorenzo Apartments in San Antonio
Investment SalesNewsTexas

The Multifamily Group Arranges Sale of 72-Unit Lorenzo Apartments in San Antonio

by Channing Hamilton

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has arranged the sale of Lorenzo Apartments in San Antonio. TMG’s Jon Krebbs represented the seller, while Christopher Siemasko procured the buyer. Neither party was disclosed. Lorenzo Apartments was built in 1960. The property comprises 72 units in one- and two-bedroom layouts. Amenities include a laundry facility, bark park and 24-hour courtesy patrol.

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FinanceNewsOperationsTexas

Cushman & Wakefield Hires Nicholas Murphy as Senior Director

by Channing Hamilton

HOUSTON — Cushman & Wakefield has hired Nicholas Murphy as a senior director. Murphy will join the Equity, Debt & Structured Finance team at Cushman & Wakefield’s Houston office. In this role, he will advise clients in Texas on capital-stack strategies, with a focus on the multifamily sector. Murphy most recently worked as a director of acquisitions at Sync Residential. Prior to this, he was a director at Berkadia. Murphy graduated from the St. Edwards University and earned a master’s in real estate development at Arizona State University.

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Investment SalesNewsTexas

Crescent Communities Sells 20-Story NOVEL Turtle Creek in Dallas to Goldrich Kest

by Channing Hamilton

DALLAS — Crescent Communities has sold NOVEL Turtle Creek, a 206 high-rise community in the Turtle Creek and Oak Lawn area of Dallas, to Goldrich Kest. NOVEL Turtle Creek was built in 2022 at 4251 Irving Avenue. The building rises 20 stories and features one-, two- and three-bedroom units. Amenities include an outdoor deck with a pool, lounge, concierge service, curbside valet and morning coffee service. The design team for the project included project architect WDG, experimental consultant 404 Design, landscape architect TBG Partners and interior designer Vignette Interior Design. …

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