Texas

Diamond Flats in Carrollton, Texas
DevelopmentNewsTexas

The NRP Group, H.I.G. Capital Break Ground on Diamond Flats in Carrollton, Texas

by Channing Hamilton

CARROLLTON, TEXAS — The NRP Group, in partnership with H.I.G Realty Partners, has broken ground on Diamond Flats, 25 miles north of Dallas in Carrollton. Santander Bank, N.A. has provided a construction loan for the project. Diamond Flats will comprise 331 units across four stories on a six-acre site. Units will come in one-, two- and three-bedroom layouts with an average size of 950 square feet. Planned amenities include a fitness center, a pool, courtyards, a game room and secure garage parking. The NRP Group expects to deliver the asset’s first …

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The Village at Golden Triangle in Fort Worth
Build-to-RentDevelopmentFinanceNewsTexas

Tower Capital Arranges $72.9 Million in Construction Financing for Build-to-Rent Project in Fort Worth

by Channing Hamilton

FORT WORTH, TEXAS — Tower Capital has arranged $72.9 million in construction financing for the development of Village at Golden Triangle, a 317-unit build-to-rent community in Fort Worth. Tower Capital’s Kyle McDonough and George Maravilla arranged the financing on behalf of Empire Group, the project’s Arizona-based developer. The Village at Golden Triangle is situated on 30 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth. The community offers one-, two- and three-bedroom floor units with quartz countertops, stainless steel appliances, full-size washers and dryers, smart-home technology, private …

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Industry VoicesInvestment SalesMidwestNortheastSoutheastTexasWestern

The 411 on 1031s: What to Know Before Making a Tax-Deferred Swap in the Multifamily Sector 

by Channing Hamilton

1031 exchanges are an effective way for investors to protect their capital. They also historically have experienced strong fundamentals in the long term. Why, then, aren’t more multifamily investors taking advantage of tax-deferred swaps? Many property owners simply lack the expertise and industry connections to source acquisition opportunities that meet their objectives. This is especially true considering the tight timeframe many 1031 exchanges operate under, as these types of deals have a built-in ticking clock. Once an investor sells an asset, he or she has 45 days to identify a …

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Tapestry at the Realm in Lewisville, Texas
DevelopmentNewsTexas

Bright Realty Nears Completion of 362-Unit Tapestry at The Realm in Dallas Suburb

by Channing Hamilton

LEWISVILLE, TEXAS — Bright Realty is approaching completion of Tapestry at The Realm in the northern Dallas suburb of Lewisville. Tapestry at The Realm will comprise 362 units across four stories. Units will come in studio, one- and two-bedroom floor plans. Amenities will include a fitness center with a sauna, game lounge, business center and conference room. ANDRES Construction is overseeing the project’s development. B2 Architecture + Design designed the property. Pre-leasing is slated to begin in November 2023. The first units will open for occupancy in December 2023.

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Stone Brook in Baytown, Texas
FinanceInvestment SalesNewsTexas

Newmark Negotiates Sale and Financing of 376-Unit Property in Baytown, Texas

by Channing Hamilton

HOUSTON — Newmark has arranged the sale and financing of Stone Brook, a garden-style community in the Houston suburb of Baytown. Built in 2000, Stone Brook offers 376 units in one-, two- and three-bedroom layouts. Amenities include a pool, playground, dog park, gated access and covered parking. Zach Springer of Newmark Multifamily Capital Markets represented the seller, Knightvest Capital. Tip Strickland of Newmark’s debt, equity and structured finance team arranged the 10-year permanent fixed-rate loan on behalf of the buyer, Bluebird. The financing was secured through Freddie Mac at a loan-to-value …

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Build-to-RentDevelopmentInvestment SalesNewsTexas

Capital Square, ITOCHU Corp. to Acquire 100-Unit Build-for-Rent Project in San Antonio Suburb

by Channing Hamilton

NEW BRAUNFELS, TEXAS — Capital Square and ITOCHU Corp. have formed a joint venture to acquire Creekside Terrace, a build-for-rent community currently being built in the San Antonio suburb of New Braunfels. Pulte Homes is the developer on the project. A development timeline was not disclosed. Creekside Terrace offers 100 units in three- and four-bedroom floor plans, as well as amenities such as a pool, pavilion and park.

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DevelopmentLeasing & MarketingNewsTexas

Resia Begins Leasing 336-Unit Resia Dallas West in Dallas

by Channing Hamilton

DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has begun leasing Resia Dallas West in Dallas. The garden-style community features one-, two- and three-bedroom units across eight buildings. Of the total 336 units, 17 are affordable housing residences. Income restrictions for these units were not disclosed. Amenities include a pool, fitness center and a business center. Fifth Third Bank and Pealmark provided construction financing for the project. Rents start at $1,280 per month for a one-bedroom unit.

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The Flynn at Live Oak in Dallas
DevelopmentFinanceNewsTexas

Conor Commercial Real Estate to Develop 327-Unit The Flynn at Live Oak in Dallas

by Channing Hamilton

DALLAS — Conor Commercial Real Estate will develop The Flynn at Live Oak, a 327-unit project in Dallas. The building will rise five stories at 4931 Live Oak St. Units come in studio, one- and two-bedroom floor plans. Planned amenities include co-working space with private offices and standing desks, a mini-mart, pool, two courtyards and a dog park. The first apartments are slated to deliver in spring of 2025. The development is a joint venture investment between Conor Commercial Real Estate, Globe Corp., and Origin Investments. JLL’s Dallas office arranged …

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Village at Hutto Station in Hutto
DevelopmentFinanceNewsTexas

Empire Group Breaks Ground on $62.4 Million Build-to-Rent Community Near Austin

by Channing Hamilton

HUTTO, TEXAS — Empire Group of Cos. has secured a $62.4 million loan to construct Village at Hutto Station, a build-to-rent development in the Austin suburb of Hutto. Arbor Realty SR Inc. provided the loan. The general contractor for the project is Legacy MCS. Empire Group began developing the community, which consists of 276 units on 30.6 acres, in August. Units come in one-, two- and three-bedroom floor plans ranging in size from 680 to 1,300 square feet. Amenities will include a pool and jacuzzi, barbecue and fire pits, a …

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Renters TheGuarantors
Content PartnerFeaturesIndustry ContentMidwestNortheastOperationsSoutheastStudent HousingTechnologyTexasWestern

Tech-Driven Renters Insurance Model Ramps Up Efficiency, Reduces Risk

by Sarah Daniels

The failure of residents to meet coverage requirements or letting policies lapse can cost owners and operators significantly, according to TheGuarantors, a fintech company serving the multifamily industry. For some operators, this can mean up to hundreds of thousands of dollars in liability costs. It can be months before operators become aware that residents have changed or canceled their policy. Property technology (proptech) innovations have helped digitize every facet of the leasing, management, maintenance, rent collection and revenue management processes. However, most proptech improvements have traditionally been renter focused, rather …

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