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Toll Brothers, Pondmoon Capital Break Ground on Mirra in Frisco, Texas

by Lynn Peisner

FRISCO, TEXAS — Toll Brothers and Pondmoon Capital USA are co-developing Mirra, a five-story, 285-unit property in Frisco, about 40 miles north of Dallas. The joint venture will fund the project with equity as well as a $49.5 million construction loan provided by Santander Bank. Amenities will include a resort-style pool, co-working spaces, a bike area and outdoor lounge with games and barbecues. Mirra is located on a 3-acre lot in Frisco Square Town Center, a mixed-use development, and is adjacent to two other properties Toll Brothers developed with other …

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A 3D render of Haven at Treeline's clubhouse and swimming pool, under pink-flowered cherry trees.
DevelopmentNewsTexas

Ascendant Development Breaks Ground on Haven at Treeline in Houston

by Channing Hamilton

TOMBALL, TEXAS — Locally based Ascendant Development has started construction of the 231-unit Haven at Treeline in Tomball, Texas, approximately 35 miles northwest of downtown Houston. The garden-style community will begin pre-leasing in summer 2024. Treeline at Tomball will consist of seven three-story buildings housing one- and two-bedroom floor plans ranging from 670 to 1,274 square feet. Amenities will include a clubhouse, fitness center with a yoga and spin room, a dog park, game room and a saltwater pool.

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Three New Hires Join Cushman & Wakefield’s Sunbelt Multifamily Advisory Group

by Channing Hamilton

HOUSTON — Cushman & Wakefield has hired Jennifer Campbell, Joshua Hoffman and Avery Klatt to the firm’s Sunbelt Multifamily Advisory Group. Led by Campbell, the team will be responsible for Class A and B multifamily investment sales throughout the Houston metro area. Campbell, Hoffman and Klatt will be based in Cushman & Wakefield’s Houston office serving as executive managing director, senior director and director, respectively. Campbell comes from Institutional Property Advisors (IPA) where she led the company’s multifamily efforts for the Houston market. Hoffman and Klatt also come from IPA …

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San Antonio Apartment Association Elects New Board, Welcomes Executive Director

by Jaime Lackey

SAN ANTONIO — The San Antonio Apartment Association (SAAA) has announced its 2023 board of directors and welcomed a new executive director. The 2023 officers are President Renetta Quintana, Capstone Real Estate Services; President-Elect Ryan Baldwin, Franklin Apartment Management; Immediate Past President Victoria Dries-Keeler, Churchill Forge Properties; Past President Jennifer Morales, Asset Living; Vice President Chris Brown, Emergency Cleaning Solutions; Treasurer Sunny Giarritta, NRP Management; Secretary Alan Ross, Bob Ross Realty; and Product Service Council President Omar Rodriguez, Google Fiber. Additionally, Kyle Ward recently joined the association as executive director, …

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Greysteel Promotes Jack Stone to Managing Director of Investment Sales

by Jaime Lackey

DALLAS — Greysteel has promoted Jack Stone to managing director, investment sales. Stone specializes in the disposition of multifamily assets for private and institutional clients in Dallas, Fort Worth, El Paso and throughout Texas. He joined Greysteel in 2018 and has closed approximately $500 million in transactions since. Prior to his work with Greysteel, Stone was a real estate attorney.

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A 3D render of a white building with black roofing and a pool behind it.
Build-to-RentCompany NewsDevelopmentTexas

The Dinerstein Companies Launches Build-to-Rent Brand

by Channing Hamilton

HOUSTON — Houston-based developer The Dinerstein Companies (TDC) has launched a build-to-rent (BTR) brand called Inspire Homes. TDC has broken ground on its first two Inspire Homes projects, one in Wildwood, Florida, and the other in Missouri City, Texas. The 192-unit project in Wildwood, approximately 51 miles from Orlando, will be made up of duplexes. The homes will have fenced backyards and detached garage parking. Floor plans will be available in one-, two- and three-bedroom layouts ranging from 685 square feet to 1,445 square feet.  The development in Missouri City, …

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DevelopmentNewsTexas

Partnership Buys 314,514 SF Office Building in Downtown Fort Worth, Plans Multifamily Redevelopment

by Channing Hamilton

FORT WORTH, TEXAS — A partnership between two Chicago-based investment firms, 3L Real Estate and Syndicated Equities, has purchased The Oncor, a 314,514-square-foot office building in downtown Fort Worth. The new ownership plans to convert the building into a 330-unit multifamily community with Class A amenities, including a pool, fitness center,  rooftop deck and a business center. The seller and sales price were not disclosed. A construction timeline was also not released.

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The Cypress Parc swimming pool surrounded by a fence and buildings.
BerkadiaInvestment SalesNewsTexas

Berkadia Negotiates Sale of 200-Unit Cypress Parc Apartments in North Houston

by Channing Hamilton

HOUSTON — Berkadia has negotiated the sale of Cypress Parc, a 200-unit apartment complex in North Houston. The property offers two- and three-bedroom units that range in size from 926 to 1,420 square feet. Residences features walk-in closets, washer and dryer connections and private balconies/patios. Amenities include a pool, fitness center, business center, clubhouse, volleyball court and outdoor grilling and dining areas. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia represented the seller, Utah-based investment firm Lionel Partners, in the transaction. Cutt Ableson …

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Kelli Carhart Appointed Leader of CBRE’s National Multifamily Platform 

by Channing Hamilton

DALLAS — CBRE has appointed Kelli Carhart to the position of executive managing director and leader of multifamily capital markets for the United States. Carhart will lead CBRE’s multifamily services, which include investment sales and financing. She will oversee expansion of CBRE’s multifamily business nationally across five regions, with leaders appointed for each area: Eli Hanacek in the Northwest, Asher Gunter in the Southwest, Danny Baker in the central region, and Shea Campbell in the Southeast. A leader for the Northeast region has not yet been announced. Carhart succeeds Brian McAuliffe.

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A 3D render of Resia Ten Oaks, a gray, blue, and white apartment building.
DevelopmentFinanceNewsTexas

Resia Receives $96.5M in Construction Financing for Houston Multifamily Project

by Channing Hamilton

HOUSTON — Resia, a Miami-based developer formerly known as AHS Residential, has received $96.5 million in construction financing for Resia Ten Oaks, a 573-unit multifamily project in Houston. Santander Bank provided the senior loan, with Valley Bank also included among the syndicate of lenders. Additionally, Artemis Real Estate Partners provided preferred equity. Resia Ten Oaks will offer one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and a multi-purpose clubhouse. Sitework on the project began in July 2022, and full completion is scheduled for …

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