Texas

JLL Capital Markets Brokers Sale of The Wildwood Apartments in Richmond, Texas

by Channing Hamilton September 19, 2023

RICHMOND, TEXAS — JLL Capital Markets has brokered the sale of The Wildwood Apartments in the Houston suburb of Richmond. Price Realty Corp. acquired the asset from Allen Harrison Co. for an undisclosed price. JLL also arranged a seven-year loan through New York Life Real Estate Investors for the new owner. The Wildwood Apartments was built in 2022. The community features one- and two-bedroom units. Amenities include a conservatory, dog parks, gated entry, a package room, a clubhouse with library and kitchen, a pool and a fitness center. Dustin Selzer led …

September 19, 2023

Build-to-Rent Development News Texas

NexMetro Communities, Mosaic Break Ground on Build-to-Rent Community Near Austin, Texas

by Channing Hamilton September 18, 2023

GEORGETOWN, TEXAS — NexMetro Communities has begun the development of Avilla Berry Creek, a 25-acre build-to-rent complex in the Austin, Texas suburb of Georgetown. Mosaic is the general contractor for the project. Avilla Berry Creek comprises 224 single-family detached homes and duplexes. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool and clubhouse, community garden and a dog park. The total development cost of the project is $66 million.

September 18, 2023

Industry Voices Leasing & Marketing Midwest Northeast Operations Southeast Texas Western

Renter-Friendly Security Deposit Legislation Is a Sea Change for Property Managers

by Channing Hamilton September 18, 2023

— By Revital Gadish, CEO, Qira — More than a third of Americans rent their homes, according to the U.S. Census Bureau. As such, the political landscape is evolving to fit their needs. An influx of new laws and proposed legislation has ensued, aimed at increasing transparency and fairness and avoiding financial hardship for tenants. Much of the ensuing legislation is focused on security deposits. The strictest of the bills bans security deposits entirely, while others are capping the amount landlords can charge as a security deposit. So far, Texas, …

September 18, 2023

The Merle on Howard in Pflugerville, Texas

Development News Texas

Joint Venture Breaks Ground on 444-Unit First Phase of The Merle on Howard Near Austin, Texas

by Channing Hamilton September 13, 2023

PFLUGERVILLE, TEXAS — A joint venture consisting of High Street Residential (the residential subsidiary of Trammell Crow Company) and CBRE Investment Management has broken ground on The Merle on Howard in the Austin suburb of Pflugerville. Meeks Partners is the project architect. Provident General Contractors is the general contractor. The project will be built in three phases on a 60-acre site. The first phase spans 17 acres and will comprise 444 apartments across 15 garden-style buildings. Amenities will include a 11,000-square-foot clubhouse with co-working space, fitness center, golf simulator, EV …

September 13, 2023

Development Leasing & Marketing News Texas

Rosewood Property Co. Begins Leasing 326-Unit The Ludlow in Plano, Texas

by Channing Hamilton September 13, 2023

PLANO, TEXAS — Rosewood Property Co. has begun leasing The Ludlow, a 326-unit property in Plano. The community is located within the 156-acre mixed-use Heritage Creekside development, which was also developed by Rosewood Property Co. features amenities including a clubroom, co-working space, fitness center, golf simulator and pool area. Units come in one-, two- and three-bedroom floor plans. Veritex Bank provided a construction loan for The Ludlow. Hensley, Lamkin, Rachel Inc. designed the project. LandDesign serves as the landscape design architect, B2 Architecture + Design is the interior designer, and …

September 13, 2023

Development Finance News Texas

Anthem Development Breaks Ground on $64 Million Lofts iThirty in Garland, Texas

by Channing Hamilton September 13, 2023

GARLAND, TEXAS — Anthem Development, a Beck Ventures company, has broken ground on the first phase of redevelopment for the new Transit-Oriented District in Garland. The first phase includes the development of Lofts iThirty, a 340-unit project located at 6302 Greenbelt Pkwy. Lofts iThirty will comprise five buildings that each rise four stories, with amenities such as two pools, a pet spa, park, game room, coffee bar, sky-lounge, outdoor kitchens and two fitness centers. The total cost of the first phase is expected to be $64 million. At full build-out, the redevelopment project …

September 13, 2023

Development News Texas

Bridgeview Multifamily to Develop 250-Unit Project in Arlington, Texas

by Channing Hamilton September 12, 2023

ARLINGTON, TEXAS — Bridgeview Multifamily will develop a 250-unit community in Arlington, west of Dallas. The project, which is tentatively called Mercantile Lofts, will comprise one four-story building with three-story wings on a 6.3-acre site. Units will come in one- and two-bedroom floor plans. Amenities will include a pool, courtyard and single-level parking garage. Construction is expected to begin next summer.

September 12, 2023

Investment Sales News Texas

The Milestone Group Acquires 228-Unit Archer Stone Canyon Apartments in San Antonio, Texas

by Channing Hamilton September 11, 2023

SAN ANTONIO, TEXAS — The Milestone Group has acquired Archer Stone Canyon Apartments in San Antonio. The company purchased the asset through the assumption of the existing Freddie Mac loan. The purchase price was not disclosed. Archer Stone Apartments comprises 228 units featuring washers and dryers, detached garages, computer nooks, wood-style flooring and patios or balconies in certain units. Amenities include a pool, fitness center, clubhouse and playground.

September 11, 2023

Development News Texas

Triten Real Estate Tops Out First Phase of 341-Unit The Mill in Houston

by Channing Hamilton September 8, 2023

HOUSTON — Triten Real Estate Partners has topped out the first phase of The Mill, the redevelopment of an 1890s lumber mill in Houston’s East End district. The Mill will comprise 341 units across seven stories, as well as 6,000 square feet of retail space and a seven-story parking garage. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, clubroom and outdoor grilling stations. Michael Hsu Office of Architecture designed the project, and Arch-Con Corp. is serving as the general contractor. Preleasing …

September 8, 2023

Keybank Multifamily Affordable Housing Janette O'Brien

Affordable Housing Content Partner Features Finance Industry Content Midwest Northeast Southeast Texas Western

Fine-Tune Borrowing Strategies to Activate Multifamily Projects

by Sarah Daniels September 7, 2023

Multifamily developers and owners seeking debt financing face a gauntlet of headwinds, but deal flows confirm that good deals are still landing loans. That’s according to Janette O’Brien, head of production for multifamily lending at KeyBank. As one of the nation’s largest bank-based financial services companies, KeyBank has a full pipeline of multifamily loans in process. That puts O’Brien’s finger on the pulse of what differentiates viable deals in today’s volatile market. Multifamily & Affordable Housing Business asked O’Brien about current borrower challenges, as well as the strategies that are helping some …

September 7, 2023

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