DALLAS — Dominium, an affordable housing developer and owner-operator based in Dallas, has selected Mark Moorhouse and Kyle Hansen to share leadership responsibilities for the company as co-CEOs. The move comes as senior managing partner Paul Sween becomes chairman of Dominium’s board of directors. In his new position, Sween will oversee the board of directors and set its agenda. He will continue to serve as a partner in the firm. Moorhouse and Hansen will work in partnership to lead the overall strategy and direction of the company. Moorhouse will continue …
SAN ANTONIO — Cleveland-based developer The NRP Group has completed Los Arcos at Vida, an $81 million affordable housing project in San Antonio. Located within the 600-acre Vida master-planned development, Los Arcos at Vida consists of 324 apartments, which are reserved for households earning between 30 and 70 percent of the area median income. Units come in one-, two, three- and four-bedroom floor plans. Community amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and laundry facilities. …
DALLAS — Affordability is more important to renters than location and amenities, according to a study from Hugo, the research team of Dallas-based architect Corgan. The Residency Reshaped report examined how renters’ priorities have shifted because of hybrid work trends, high costs of living and inflation. Researchers surveyed 1,480 renters in six Sun Belt markets: Atlanta, Austin, Dallas, Denver, Nashville and Phoenix. Residency Reshaped targeted renters between the ages of 25 and 45 who had leased for at least one year and who paid at least $1,500 per month in rent. The research team …
DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased Yorktown Luxury Apartments, a 226-unit property located in the Kessler Park neighborhood of Dallas. Nuveen Real Estate sold the asset for $39.5 million. Eric Calub, Caleb Jones and Paul Harris of Berkadia arranged the transaction. Built in 2016, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, lounge and outdoor grilling and dining stations. The new ownership will make capital improvements and has rebranded the property as Infinity on Yorktown. Arbor Realty Trust provided …
PLANO, TEXAS — Comunidad Partners, an Austin, Texas-based investment firm that specializes in affordable and workforce housing, has acquired Lakeshore at Preston Apartments in Plano, 20 miles north of Dallas. CBRE represented Comunidad Partners and the seller, Chicago-based Waterton, in the transaction. Lakeshore at Preston Apartments consists of 302 apartments in one- and two-bedroom floor plans. The community is reserved for households earning 80 to 100 percent of the area median income. Amenities include a pool, lounging areas, pickleball court and beach volleyball courts.
DALLAS — Blue Ocean Real Estate has acquired Villa Ladera, a 184-unit complex in Dallas. Built in 1972, Villa Ladera features one- and two-bedroom apartments, as well as on-site laundry facilities. Chris Deuillet and Matthew Pastrano of CBRE represented the undisclosed seller and procured the buyer in the deal. Josh Berde, Andrew Woertendyke and Peyton Chur, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal through an unnamed lender.
HOUSTON — Greysteel has arranged the sale of The Willows, a 346-unit property in Houston. According to the community website, The Willows offers one-, two- and three-bedroom units. Amenities include a pool, playground, coffee bar and four laundry facilities. The seller, a private REIT, owned the community for approximately two decades prior to the acquisition. The buyer, whose identity was not disclosed, plans to enhance operational efficiencies and conduct a renovation program at the community. Jack Stone and Chris Castillo of Greysteel brokered the deal.
COLLEGE STATION, TEXAS — 950 TL Midtown LLC has purchased Nine50 Town Lake at Midtown, a property located at 950 Town Lake Drive in College Station, for $40.8 million. The seller was not disclosed. The community offers a mix of one-, two- and three-bedroom floor plans. Units range from 527 to 1,371 square feet. Amenities include a pool with sun deck and a clubhouse with a fitness center, business center, Wi-Fi café and game lounge with a billiards table and shuffleboard. The community is pet-friendly, with a pet spa and …
PLANO, TEXAS — Comunidad Partners, an Austin, Texas-based investment firm with a focus on workforce and attainable housing communities in the Sun Belt region, has appointed Ty Barnes as head of investments. In his new position, Barnes will lead the firm’s acquisition, capital markets and portfolio management strategies. Most recently, he held senior roles at Tishman Speyer, Taconic Partners, Related Cos. and WinnResidential.
GRAND PRAIRIE, TEXAS — Atlantic Multifamily has sold The Destino, a 192-unit community located in Grand Prairie, roughly midway between Dallas and Fort Worth. The Destino was constructed on an 11-acre site in the 2000s. The community consists of 18 buildings and offers one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor kitchen, playground and a dog park. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, a New York-based private investment company, in the deal.