SAN ANGELO, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of two multifamily properties — Capri Apartments and Bryant Place — in the West Texas city of San Angelo. William Stover Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed. Capri Apartments is located at 608 W Ave M, while Bryant Place is located at 1521 S Bryant Blvd.
GRAND PRAIRIE, TEXAS — Colliers Mortgage has provided a $16.5 million Fannie Mae acquisition loan for the Chandler, a 164-unit community in Grand Prairie, between Dallas and Fort Worth. Robert Siddall, William Givens, Shawn Givens and Ken Higgins of Colliers Mortgage originated the financing, which features a five-year term and a 35-year amortization schedule. The borrower was Dallas-based private equity firm Reap Capital. The Chandler offers one-, two- and three-bedroom units. Amenities include a pool and a playground.
EULESS, TEXAS — Knightvest Capital has sold Reagan at Bear Creek, a garden-style community in the Dallas suburb of Euless. The buyer was not disclosed. Reagan at Bear Creek was originally built in 1998 and first acquired by Knightvest Capital in September 2017. The property comprises 216 units. Over the course of six years, the company renovated the community with updates to individual units and amenities. According to Knightvest Capital, the renovated units saw an 80 percent increase in rent over acquisition rates.
AUSTIN, TEXAS — Draper and Kramer Inc. has acquired Griffis at Riata, a 307-unit property located in Austin’s tech district. Griffis at Riata was built in 2017 on a 16.9-acre site adjacent to Apple’s Austin corporate campus on Parmer Lane. The community comprises 195 one-bedroom and 112 two-bedroom apartments across 17 buildings. Amenities include co-working spaces, a resident lounge, two fitness centers, a pet spa and dog park. At the time of purchase, the property was 95 percent leased. Draper and Kramer will rebrand the community as “DK Riata.”
AUSTIN, TEXAS — SPI Advisory has purchased Parkview Terraces, a 244-unit community in Austin, for an undisclosed price. This acquisition marks SPI Advisory’s eight property under management in the Austin metropolitan area. Parkview Terraces was built in 2009 and was previously known as Cortland Southpark Terraces. According to Apartments.com, units come in one-, two- and three-bedroom floor plans. Amenities include a fitness center, package lockers, a business center, outdoor lounges, a clubhouse and valet trash services.
HOUSTON — New Hope Housing will break ground on two affordable housing developments in Houston — NHH Gray and NHH Berry — this October. Amegy Bank provided $50 million in financing for the project. NHH Berry will offer 180 one-, two- and three-bedroom apartments. NHH Gray will include 135 units in one- and two-bedroom floor plans. Both communities will host on-site Bezos Academy locations, which will provide free pre-school services to residents. NHH Gray and NHH Berry are scheduled to be completed in July 2025. Income restrictions for the two …
PASADENA, TEXAS — An affiliate of Olive Tree Holdings has completed the $4 million renovation of The Life at Beverly Palms, a 308-unit community in the eastern Houston suburb of Pasadena. The Life at Beverly Palms was originally built in 1971. Units come in one-, two- and three-bedroom floor plans. Unit interiors received new paint and windows, while exterior upgrades included refreshed sidewalks, roofs and landscaping. Olive Tree Holdings also updated the amenity spaces, which include a community room, pool, picnic area, laundry center, dog park and playground.
HOUSTON — The NHP Foundation has received $1.5 million in capital grant subsidy funding from The Corp. for Supportive Housing to offset costs incurred for the construction of 11 units of affordable housing at The Citadel at Elgin in Houston. The community opened in the summer of 2023 and is The NHP Foundation’s fifth affordable community in the city. Income restrictions for The Citadel at Elgin were not disclosed. Financing for the project’s development included $15 million of Citibank construction and permanent debt financing with tax exempt bonds issued by …
IRVING, TEXAS — Marcus & Millichap has brokered the sale of Tucasa Townhomes, a 128-unit community in the Dallas suburb of Irving. Al Silva, Ford Braly and Dylan York of Marcus & Millichap represented the undisclosed seller and procured the buyer, an out-of-state partnership. According to Apartments.com, Tucasa Townhomes was built in 1964. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool and a courtyard.
ROUND ROCK, TEXAS — Harbor Group International has acquired The Warner, a 336-unit complex in the north Austin suburb of Round Rock. Newmark’s Patton Jones facilitated the transaction. The Warner was built in 2022. Community amenities include a fitness center, a pool with outdoor kitchens, a lounge, dog park and a parking garage with EV charging stations. The Warner was 98 percent leased as of July 2023. The property is located near several tech company campuses, including Dell’s corporate headquarters, Apple’s Austin campus and Samsung’s semiconductor manufacturing facility, which is scheduled for completion in …