Texas

The pool at Spice Creek, surrounded by black metal fending and brown and gray low-rise buildings with black roofing.
Investment SalesNewsTexas

Harbor Group International Acquires 828-Unit Portfolio in San Antonio

by Channing Hamilton

SAN ANTONIO — Harbor Group International has acquired a three-property portfolio totaling 828 units in San Antonio from Texas-based Multifamily Acquisition Advisors and Irvine, California-based Blackhawk Property Holdings. The sale was brokered by Newmark, with Senior Managing Director Matt Michelson representing the sellers. Executive Managing Directors Henry Stimler, William Weber and Matt Mense, Senior Managing Director Ari Schwartzbard and Vice President Daniel Sarsfield arranged a loan on behalf of HGI through Freddie Mac. The assets sold for an undisclosed price. The portfolio includes three garden-style properties: Spice Creek, The Clara …

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The leasing office at Springs at Alamo Ranch, a half stone and half green siding building.
Investment SalesNewsTexas

MLG Capital Acquires 232-Unit San Antonio Asset

by Channing Hamilton

SAN ANTONIO — Brookfield, Wisconsin-based real estate investment firm MLG Capital has acquired Springs at Alamo Ranch in San Antonio. Springs at Alamo Ranch comprises 227,000 square feet and 232 studio, one-, two- and three-bedroom townhome style units. Amenities at the gated-access community include a pool, fitness center and dog park. MLG Capital plans to rebrand the property as Reata Alamo Ranch. According to Apartments.com, monthly rental rates range from $1,076 to $2,654.

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Us Bayou Park's pool area, enclosed by the white multifamily building behind it.
DevelopmentNewsTexas

Vero Sade Completes Redevelopment of 15-Year-Old Houston Property

by Channing Hamilton

HOUSTON — Locally based developer Vero Sade has completed a renovation of the former City Vista property in Houston’s Allen Parkway corridor. The 404-unit community, originally developed in 2008, has been renamed Us Bayou Park, and Greystar has been appointment property manager. Us Bayou Park is currently 80 percent leased. Unfurnished units begin at approximately $1,700 per month. Furnished units are available for short-term stays.   Vero Sade completed physical as well as programmatic updates. The property’s club house was redeveloped into a 10,000-square-foot multipurpose space used for co-working and for …

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Park at Humble exterior pool
DevelopmentNewsTexas

FTK Construction Selected for $12.2 Million Renovation of Houston-Area Property

by Lynn Peisner

HUMBLE, TEXAS — FTK Construction Services has been selected as the general contractor to lead a $12.2 million renovation of The Park at Humble Apartments in Humble, about 20 miles northeast of Houston. The owner of the property is Bellevue, Washington-based DevCo Residential Group. Regions Bank is the lender for the rehabilitation-project construction loan. The property was built in 2005 and has 216 one-, two- and three-bedroom townhome units. Construction will begin in May. The property’s interior renovations will include new paint, cabinetry, countertops, plumbing fixtures, flooring, light fixtures and …

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Farm Haus, AHV's new BTR property in San Antonio
Build-to-RentDevelopmentNewsTexas

AHV Communities Completes 142-Unit Build-to-Rent Project in San Antonio

by Lynn Peisner

SAN ANTONIO — Locally based single-family rental developer AHV Communities has completed its latest project in San Antonio, called Farm Haus. The duplex-style property includes 142 units available in two-, three- and four-bedroom floor plans. All units include two-car garages and fenced yards, as well as unit features such as quartz countertops; stainless steel, energy-efficient appliances; smart home technology and walk-in closets. Farm Haus’s 2,991-square-foot amenity building includes a fitness center, a kitchen, conference room and great room. Other community amenities include bocce courts, walking trails and a dog park.

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Affordable HousingDevelopmentNewsTexas

NHP Foundation Breaks Ground on $45 Million Houston Project for Homeless 

by Channing Hamilton

HOUSTON — The NHP Foundation (NHPF), a nonprofit affordable housing developer headquartered in New York City, is constructing RoseMary’s Place in Houston. RoseMary’s Place will offer 149 units for people experiencing homelessness. Funding for the $45 million project includes $18.7 million from the city of Houston Housing and Community Development Department, $10.2 million from Harris County Community Services Department, $13.6 million from the sale of tax credits to Hudson Housing and $2.4 million from Magnificat Houses Inc. (MHI) as a sponsor loan. Building features and resident services will include in-house …

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San Paseo, a brown rectangular building with black roofing and a pool and courtyard at its center.
DevelopmentNewsTexas

Sueba USA To Develop San Paseo in Houston

by Channing Hamilton

HOUSTON — Sueba USA will develop San Paseo, a 292-unit, gated-community in Houston. Twenty of the units will be townhomes. San Paseo will be constructed next to two other Sueba USA-developed multifamily properties, San Tierra and San Remo. Southhampton Management Inc., an affiliate of Sueba USA, will manage the property, and pre-leasing is expected to begin in March 2024.  Apartments come in studio, one-, two- and three-bedroom floor plans and include features such as stainless steel appliances, granite countertops, wood-style flooring, in-unit washers and dryers and patios or balconies in some homes. …

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A 3D render of Alta Sunset heights. Some parts of the building are brown, some are white.
DevelopmentNewsTexas

Wood Partners Breaks Ground on Alta Sunset Heights in Houston

by Channing Hamilton

HOUSTON — National real estate developer Wood Partners has broken ground on Alta Sunset Heights in Houston. The community will be comprised of 378 one- and two-bedroom units. Delivery is estimated to be early next year. Pre-leasing will begin in December. Equity for the community was provided by EuroInvestor, which is Wood Partners’ German-based partner on the deal. Amenities include a pool, outdoor kitchen, dog park and a clubhouse with a fitness center, business center and entertainment spaces.

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The Moorings League City
Market ReportsTexas

Clean Energy Fuels Employment, Multifamily Growth in Houston

by Kari Lloyd

Long known as a key center for oil and gas companies and dubbed “The Energy Capital of the World,” Houston today is positioning itself as the proving ground for alternative energies. Jobs, and therefore apartment demand, are following close behind, keeping investors busy. Per Yardi Matrix, Houston is one of only a few metros in which employment rates have returned to pre-pandemic levels. The multifamily sector, alongside many others, is reaping the benefits of such a bounce. Employment expanded by 150,400 jobs, about 5.2 percent, from March 2021 to July …

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Company NewsNewsPeople NewsTexas

Revere Capital Hires Will Bohannan as Director of Capital Markets

by Channing Hamilton

DALLAS — Revere Capital has hired Will Bohannan as director of capital markets. Bohannan comes to Revere Capital from Walton Global Holdings, where he served as senior vice president of national accounts. Prior to his career with Walton, Bohannan was senior vice president at ClickIPO, a finance brokerage based in Scottsdale, Arizona, and senior vice president at Torrey Capital, an investment consulting and marketing firm based in San Diego, California. Revere Capital is an institutional private credit manager based out of Dallas. In the fourth quarter of 2022, Revere Capital’s …

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