Texas

Sorrento at Tuscan Lakes in League City, Texas

LEAGUE CITY, TEXAS — Cushman & Wakefield has brokered the sale of two communities, Amalfi at Tuscan Lakes and Sorrento at Tuscan Lakes, in League City. John Carr, Jennifer Campbell, Ben Fuller, Josh Hoffman, Avery Klatt, Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller in the transaction. Both communities were sold by Sachs Cos. Amalfi Tuscan Lakes is located at 1450 E League City Parkway and comprises 328 units. Sorrento at Tuscan Lakes offers 204 units at 1455 Louisiana Ave. Both communities were built in 2008 …

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BROKEN ARROW, OKLA. — Berkshire Lane Development Partners will build Berkshire @1Eleven, a 182-unit garden-style project in the southeast Tulsa suburb of Broken Arrow. Berkshire @1Eleven will offer one- and two-bedroom units, which feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a pool, fitness center, and green spaces. The first units are expected to be available for occupancy in summer 2025.

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OKLAHOMA CITY — RRA Capital has provided a $20.6 million loan for the acquisition of a 252-unit complex in Oklahoma City. The property is located at 11239 Pennsylvania Ave. and was built in 1970s. Units come in one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors.

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Palladium Crestway in San Antonio, Texas

SAN ANTONIO, TEXAS — Palladium USA, in partnership with the San Antonio Housing Trust Public Facility Corp. (PFC), has broken ground on Palladium Crestway, a $65 million affordable community in San Antonio. Income restrictions for the community have not been disclosed. The San Antonio Housing Trust PFC issued $31 million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust. PNC Bank provided $27 million of equity. Palladium Crestway will include 271 units across three stories on a 10-acre site. Apartments come in one-, two- and three-bedroom floor plans. Amenities …

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Icon at Yorktown in Houston

HOUSTON — Institutional Property Advisors (IPA) has arranged the sale of Icon at Yorktown, a 115-unit property in Houston. IPA’s Travis Austin, Greg Austin, Jackson Hart, Drew Kile and Will Balthrope represented the seller and procured the buyer. The buyer and seller were not disclosed. Icon at Yorktown was built in 2021 on three acres within Houston’s master-planned Copperfield community. Amenities include carports, EV chargers, a pool, fitness center and clubhouse.

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NEW BRAUNFELS, TEXAS — SPI Advisory has acquired Hawthorne Riverside, a 164-unit complex in the northwest San Antonio suburb of New Braunfels. The seller and sales price were not disclosed. Built in 1995, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, volleyball court, cybercafé, pet park, resident clubhouse, business center and outdoor grilling and dining stations. SPI Advisory plans to implement a value-add program and rebrand the property as Riverbend Apartments.

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MESQUITE AND GRAND PRAIRIE, TEXAS — S2 Capital has acquired two properties totaling 768 units in the Dallas-Fort Worth metropolitan area. CBRE’s Danny Baker and William Hubbard represented the sellers in the deals. Harry Krieger represented S2 Capital in securing financing. The properties are Falltree in Mesquite and Silverbrook in Grand Prairie. Falltree is a 126-unit property located at 19200 Lyndon B Johnson Fwy. S2 Capital will renovate all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style plank flooring and contemporary fixtures. The clubhouse and pools …

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HOUSTON — Partners Real Estate has brokered the sale of a building located at 4218 J St. in Houston. Ryan DeGennaro represented the seller, Mell Investment Group, in the transaction. Elaine Lan Nguyen of HomeSmart represented the buyer. The building offers eight apartments. According to LoopNet Inc., the property was built in 1963 and renovated in 2022.

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Landmark at Courtyard Villas in Mesquite, Texas

MESQUITE, TEXAS — Marcus & Millichap brokered the sale of Landmark at Courtyard Villas, a 256-unit property in the Dallas suburb of Mesquite. The property was built in 1999 on 17 acres adjacent to Samuell Farm North regional park. The unit mix includes 120 one-bedroom units, 120 two-bedroom units and 16 three-bedroom units. Amenities include a fitness center, swimming pool, laundry facilities and a playground. ShainRealty Capital acquired the asset from a California-based owner in a 1031 exchange. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas …

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Madison Farms in Charlotte, North Carolina

­— By Ryan Hanks, CEO, Madison Capital — The combination of the flight from urban markets to the suburbs in the work-from-home era, the lack of accessible housing inventory and the rising cost of renting has led to a housing and affordability crisis for middle-class Americans nationally. Faced with its own challenges, including rising labor costs and an increasingly uncertain economic outlook, the multifamily industry has largely struggled to crack the code to arrive at a solution. The good news is that forward-thinking developers are deploying and refining strategies and …

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