Texas

Depot on Main in Burleson, Texas
DevelopmentLeasing & MarketingNewsTexas

Realty Capital Residential Begins Leasing Depot on Main in Burleson, Texas

by Channing Hamilton

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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FinanceNewsTexas

Colliers Provides Loan to Refinance Hillcrest Apartments in Killeen, Texas

by Channing Hamilton

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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FinanceInvestment SalesNewsTexas

Greystone Arranges $20.9 Million Loan to Acquire Affordable Community Near Houston

by Channing Hamilton

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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Investment SalesNewsTexas

Northmarq Brokers Sale of Coral Cay Apartments in Corpus Christi, Texas

by Channing Hamilton

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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WildHorse Creek in Chesterfield, Missouri
DevelopmentFinanceIndustry VoicesMidwestNortheastOperationsSoutheastTexasWestern

Five Hurdles General Contractors Face in Today’s Dynamic Multifamily Arena

by Channing Hamilton

— By Erick Hartzell, project director, Brinkmann Constructors — As the housing market generated uncertainty in a pandemic-driven economy, many individuals gravitated toward the stability and convenience of multifamily housing communities. Amid the rising demand, shifting consumer priorities urged developers and contractors to refocus on this subsector, allowing multifamily construction to boom.  Regardless of the steady influx of multifamily developments, demand remains prominent. As contractors work to meet the demand, there are several significant challenges to be aware of, including a lack of qualified labor, a rise in material prices, …

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Build-to-RentCompany NewsInvestment SalesNewsPeople NewsTexas

JLL Capital Markets Adds Jim Humphries as Director with Single-Family Rental Team

by Channing Hamilton

HOUSTON — JLL Capital Markets has hired Jim Humphries as a director to the firm’s single-family rental (SFR) team. In this role, Humphries will focus on SFR and build-to-rent (BTR) investment sales nationally. He will work out of JLL’s Houston office alongside the current SFR team lead, Managing Director Matthew Putterman. Humphries previously served as a senior vice president with Colliers and worked with HFF as part of the Houston multi-housing investment sales team.

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FinanceNewsPeople NewsTexas

Ashland Greene Capital Adds Two New Executives to Management Team

by Channing Hamilton

DALLAS — Ashland Greene Capital, a multifamily real estate investment firm headquartered in Dallas-Fort Worth, has appointed two new executives to its management team. Peter Hales has joined the board as chief financial officer. Hales will be responsible for overseeing all financial operations at Ashland Greene, including asset management, accounting, finance and acquisitions. Jesse Rosenstock has secured the position of vice president of finance and accounting. In this role, Rosenstock will lead Ashland Greene’s accounting department and contribute to the development of the firm’s finance department.

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Build-to-RentDevelopmentLeasing & MarketingNewsTexas

Mill Creek Residential Completes Build-to-Rent Community in Celina, Texas

by Channing Hamilton

CELINA, TEXAS — Mill Creek Residential has completed the construction of Amavi Celina, a 45-acre build-to-rent development in Celina, about 40 miles north of downtown Dallas. The property offers 271 cottage, townhome and single-family detached homes. Units come in one-, two-, three-and four-bedroom layouts. Amenities include a clubhouse with a fitness center, pool, dog park, playground, green space and 1.1 miles of on-site walking trails. Pre-leasing has begun for the community, with the first move-ins expected for late August.

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Stadia Med Main Apartments in Houston
Affordable HousingFinanceNewsTexas

NewPoint Provides Loan to Refinance 338-Unit Stadia Med Main Apartments in Houston

by Channing Hamilton

HOUSTON — NewPoint Real Estate Capital provided a Targeted Affordable Housing loan to Aspen Oak Capital Partners (Aspen Oak) through Freddie Mac. The loan refinanced a NewPoint Bridge Loan that facilitated Aspen Oak’s acquisition of Stadia Med Main Apartments in April 2022. The fixed-rate refinance features a seven-year term and a 35-year amortization schedule. Stadia Med Main Apartments is a four-story, 338-unit property in Houston’s Medical Center/West University submarket. The community offers affordable and market rate units in one- and two-bedroom layouts. Income restrictions for the affordable units were not …

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Broadstone McKinney in McKinney, Texas
Leasing & MarketingNewsOperationsTexas

Asset Living Awarded Management of Broadstone McKinney in Dallas Suburb

by Channing Hamilton

MCKINNEY, TEXAS — Asset Living has been awarded management of Broadstone McKinney, a 255-unit community in the Dallas suburb of McKinney. Broadstone McKinney offers one-, two- and three-bedroom apartments. Units feature full-size washers and dryers, walk-in closets and stainless-steel appliances. According to Apartments.com, the complex was built in 2021 and rises three stories. Amenities include package lockers, a pool, pet park, outdoor kitchen, business center, clubhouse, lounge, fitness center and a playground.

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