FORT WORTH, TEXAS — Avanta Residential has broken ground on Avendale at Chisholm Trail Ranch, a build-to-rent (BTR) community in Fort Worth. Avendale at Chisholm Trail will comprise 247 one-, two-, three- and four-bedroom units. The community will also feature an amenity center with a clubroom, fitness center, green spaces and a pool. Other amenities include courtyards, lounge areas, dog parks, walking trails and playgrounds. The first units at Avendale at Chisholm Trail Ranch will be delivered in Spring 2024. Brownstone Construction will serve as the general contractor for the project. Avanta …
Texas
VICTORIA, TEXAS — Northmarq’s San Antonio office has arranged the sale of Encore Apartments, a 56-unit property in Victoria, Texas, about 115 miles southeast of San Antonio. Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth and Stephanie Hernandez represented the seller, San Antonio-based private equity real estate company 3CM Multifamily. The buyer was undisclosed. The property was built in 1972 and comprises 14 two-story buildings. Units are offered in one-, two- and three-bedroom floor plans. Amenities at the property include covered parking, a pool and a pet park.
DALLAS — Texas has earned bragging rights on the multifamily investment front. Investment firm CONTI Capital — has developed a proprietary location analysis technology platform known as the CONTI Index — lists Dallas, Houston and Austin among the top 10 strongest markets for multifamily investment in the first half of 2023. ​Dallas-based CONTI released the rankings in January. From one to 10, the most attractive places to park apartment capital this year are as follows: (1) Dallas; (2) Atlanta; (3) Austin, Texas; (4) Charlotte, North Carolina; (5) Orlando, Florida; (6) Tampa, Florida; (7) Houston; (8) …
AUSTIN, TEXAS — Greystar Real Estate Partners has broken ground on Interport, a new garden-style community located approximately one mile from Tesla’s Austin Gigafactory and global headquarters. Once completed, Interport will comprise 396 units in studio, one-, two- and three-bedroom units. Outdoor amenities will include a dog park, beer garden, pool, outdoor kitchen and lounge, pickleball court, fitness lawn, community garden and EV chargers. Preleasing will begin in late 2023, and the first units are expected to be delivered in early 2024.
SAN ANTONIO — Harbor Group International has acquired a three-property portfolio totaling 828 units in San Antonio from Texas-based Multifamily Acquisition Advisors and Irvine, California-based Blackhawk Property Holdings. The sale was brokered by Newmark, with Senior Managing Director Matt Michelson representing the sellers. Executive Managing Directors Henry Stimler, William Weber and Matt Mense, Senior Managing Director Ari Schwartzbard and Vice President Daniel Sarsfield arranged a loan on behalf of HGI through Freddie Mac. The assets sold for an undisclosed price. The portfolio includes three garden-style properties: Spice Creek, The Clara …
SAN ANTONIO — Brookfield, Wisconsin-based real estate investment firm MLG Capital has acquired Springs at Alamo Ranch in San Antonio. Springs at Alamo Ranch comprises 227,000 square feet and 232 studio, one-, two- and three-bedroom townhome style units. Amenities at the gated-access community include a pool, fitness center and dog park. MLG Capital plans to rebrand the property as Reata Alamo Ranch. According to Apartments.com, monthly rental rates range from $1,076 to $2,654.
HOUSTON — Locally based developer Vero Sade has completed a renovation of the former City Vista property in Houston’s Allen Parkway corridor. The 404-unit community, originally developed in 2008, has been renamed Us Bayou Park, and Greystar has been appointment property manager. Us Bayou Park is currently 80 percent leased. Unfurnished units begin at approximately $1,700 per month. Furnished units are available for short-term stays. Vero Sade completed physical as well as programmatic updates. The property’s club house was redeveloped into a 10,000-square-foot multipurpose space used for co-working and for …
HUMBLE, TEXAS — FTK Construction Services has been selected as the general contractor to lead a $12.2 million renovation of The Park at Humble Apartments in Humble, about 20 miles northeast of Houston. The owner of the property is Bellevue, Washington-based DevCo Residential Group. Regions Bank is the lender for the rehabilitation-project construction loan. The property was built in 2005 and has 216 one-, two- and three-bedroom townhome units. Construction will begin in May. The property’s interior renovations will include new paint, cabinetry, countertops, plumbing fixtures, flooring, light fixtures and …
SAN ANTONIO — Locally based single-family rental developer AHV Communities has completed its latest project in San Antonio, called Farm Haus. The duplex-style property includes 142 units available in two-, three- and four-bedroom floor plans. All units include two-car garages and fenced yards, as well as unit features such as quartz countertops; stainless steel, energy-efficient appliances; smart home technology and walk-in closets. Farm Haus’s 2,991-square-foot amenity building includes a fitness center, a kitchen, conference room and great room. Other community amenities include bocce courts, walking trails and a dog park.
HOUSTON — The NHP Foundation (NHPF), a nonprofit affordable housing developer headquartered in New York City, is constructing RoseMary’s Place in Houston. RoseMary’s Place will offer 149 units for people experiencing homelessness. Funding for the $45 million project includes $18.7 million from the city of Houston Housing and Community Development Department, $10.2 million from Harris County Community Services Department, $13.6 million from the sale of tax credits to Hudson Housing and $2.4 million from Magnificat Houses Inc. (MHI) as a sponsor loan. Building features and resident services will include in-house …