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.
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, …
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 …
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 …
DALLAS — ZOM Living has secured a $109 million refinancing for Atelier Dallas, a residential tower in Dallas’ Arts District. Atelier Dallas broke ground in 2018 and was designed by architecture firm Stantec. The building comprises 10 penthouses, 53 lofts and 364 high-rise units. Amenities include a pool, yoga lawn, outdoor lounge with a grilling area, fitness center, co-working space, wine lockers and a pet spa. The property also offers 15,000 square feet of retail space and two levels of underground public parking. Atelier Dallas is located in walking distance …
DALLAS — Croft Young, a senior investment banker, will join Dallas-based CBRE in July as the company’s Chief Investment Officer. Young will join CBRE’s global executive committee and will report directly to Bob Sulentic, CBRE’s president and CEO. Previously, Young served as managing director of Morgan Stanley’s real estate investment banking group. He received a BA from the University of North Carolina at Chapel Hill and an MBA from UNC’s Kenan-Flagler Business School. Prior to joining the workforce, Young served in the United States Marine Corps for 13 years. He …
HOUSTON AND RICHMOND, TEXAS — Asset Living has been awarded management of two properties in the Houston metropolitan area. District 28 is a 299-unit community in Houston’s Medical Center South neighborhood. The property offers one- and two-bedroom floor plan, as well as amenities such as a pool and fitness center. Haven at Bellaire is located in the southwest Houston suburb of Richmond. The community offers 297 one- and two-bedroom units. Amenities include a pool, outdoor kitchen and a fitness center with a yoga and spin studio. Asset Living took over …
SAN ANTONIO, AUSTIN AND DUNCANVILLE, TEXAS — Nitya Capital has sold four communities in Texas to Lone Star Capital and Nord Group, respectively, for an undisclosed price. All four assets were acquired by Nitya within the last four years. According to Nitya, the firm renovated the interiors and exteriors of the properties, as well as the pools, kitchens and leasing offices. Nitya Capital also added new amenities to the communities. The sold properties include:
DALLAS — Realty Capital Partners and WindMass Capital have jointly acquired Wyndham on the Creek, a 151-unit community located at 9633 W. Ferris Branch Blvd. in Dallas. Built in 1984, Wyndham on the Creek offers one- and two-bedroom floor plans. The joint venture plans to renovate the property over the next two years. Individual units will receive upgraded appliances and in-unit washer and dryers. Planned exterior renovations include enhancements to the pool, clubhouse, resident storage and dog park.
AUBREY, TEXAS — Harbor Group International has purchased Mezzo, a 378–unit property in the north Dallas suburb of Aubrey, from an undisclosed seller. Henry Stimler, Bill Weber and Matt Mense of Newmark arranged the debt. Brian Murphy and Brian Oboyle, also with Newmark, brokered the sale. Mezzo was built in 2022 and comprises 12 three-story buildings. Community amenities include a fitness center, yoga studio, pool and spa, co-working spaces, a lounge and an outdoor kitchen with a dining area. Individual units offer washers and dryers, quartz countertops and balconies or patios. Mezzo was 84 percent occupied as …
