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• TEXAS - Steadfast Income REIT Purchases 1,692-Unit Res Portfolio in Houston
11/18/13
Steadfast Income REIT Inc completed a six-property portfolio acquisition in Houston representing 1,692 apartment units. The portfolio was acquired in two phases that closed on October 10 and November 7 of this year. The REIT ...
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• TEXAS - 1031 Investor Exchanges into 220-Unit TX Apartment Asset
11/14/13
The Creek on Park Place, a 220-unit apartment complex in the Mid-Cities area of Texas between Dallas and Fort Worth, was acquired by a 1031-exchange investor from the West Coast. The terms of the sale were not released.
Buil...
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• Dallas/Ft Worth Apartment Market Strengthening but Looming Development May Temper Demand
11/11/13
Here’s a brief review of the Dallas/Fort Worth apartment market, provided to us by national investment real estate services firm Marcus & Millichap:
The robust local economy will afford apartment owners a few more quarters o...
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• Investor Refis Two Vegas Retail Centers
11/07/13
Quantum Capital Partners has arranged new loans to refinance two retail properties in Las Vegas for a private investor. The recent financings consist of a $1.04 mil loan for El Mercado, a 12k sf, L-shaped retail center in eas...
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• Hines’ 24th at Camelback II Tower Achieves LEED Platinum Certification
11/06/13
Hines’ 24th at Camelback II office tower has achieved Platinum certification under the U.S. Green Building Council's LEED for Existing Buildings (EB) Rating System. The property, owned by Hines and an East Coast pension fun...
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• TEXAS - Johnson Capital Arranges $11.7 Mil on Austin Multifamily Property
11/05/13
Jason Pumpelly, Managing Director in Johnson Capital’s Dallas office, has arranged $11.72 mil in acquisition financing for a 198-unit apartment complex in Austin, TX.
The property, Cascades Apartments, is located on Algarit...
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• Buchanan Street Partners Spends $52 Mil on AZ Properties
11/05/13
Buchanan Street Partners purchased a 446k sf commercial real estate portfolio from Carlson Real Estate Company for $52.6 mil ($118/sf). The 10-building portfolio was acquired in four separate transactions and includes a mix o...
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• TEXAS - LA Real Estate Funds Manager Opens Houston Office
11/05/13
Los Angeles-based Del Rey Urban Capital LLC, a real estate fund manager and advisory firm focused on acquiring and financing distressed residential properties, has established a satellite office in Houston to acquire and mana...
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• Bascom Group Picks Up 624-Unit Asset in Las Vegas
11/04/13
Eagle Crest Apartments, a 624-unit, Class A garden-style multifamily community in Las Vegas, was purchased by the Bascom Group LLC, out of Orange County. The property is located at 5850 Sky Pointe Dr, west of I-15 off Hwy 95 ...
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• It's a Goodyear for Lincoln Property Company
11/04/13
Lincoln Property Company (LPC) has announced plans for a second new business park project in Goodyear, AZ, just two weeks after word came out of the initial project. This latest project, called 10 Lincoln, will contain of ove...
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• Major U.S. Apartment Markets Doing Well and Are Expected to Continue to Thrive
10/30/13
Fueled by the ongoing economic recovery and resulting job growth, multifamily markets in the western United States continue to shine as the end of 2013 draws near. Furthermore, the apartment sector in the region’s major metro...
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• TEXAS - International Buyer Picks Up 168k sf Fort Worth Retail Center
10/25/13
Kroger Shopping Center, a 168k sf, grocery-anchored retail center in Fort Worth, Texas, was purchased by an unnamed international buyer. The shopping center is located in a blue-collar area of Dallas/Fort Worth and was 98-per...
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• TEXAS - Hines to Start Work on 1 msf Office Tower in Houston
10/25/13
Hines is set to begin construction on 609 Main at Texas, a 47-story, 1.05 msf office tower at the corner of Main and Texas streets in Downtown Houston, on the Main Street rail line. Site preparation, including the deconstruct...
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• Stratford Partners and Pathfinder Partners Pay $15 Mil for Tempe, AZ Multifamily Asset
10/23/13
Dorsey Place, an 84-unit, condominium-style apartment building on East University Drive in Tempe, AZ, sold for nearly $15 mil ($178.5k/unit). San Diego-based Stratford Partners and Pathfinder Partners, which had purchased the...
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• TEXAS - Greystone Closes $20 Mil CMBS Financing on TX Multifamily Property
10/23/13
Greystone has closed a $20.15 mil CMBS loan for The Place at Greenway property in Houston, TX. The Place at Greenway comprises 219 units with amenities including a pool, clubhouse, reserved covered parking and fitness center....
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• TEXAS - Out-of-State Investor Buys 168-Unit Dallas Multifamily Community
10/21/13
An Illinois-based limited liability company has acquired Ashton Oaks, a 168-unit luxury multifamily community in North Dallas. The price was not disclosed.
Built in 1988 on approximately seven acres, Ashton Oaks is located a...
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• Doodle Properties Invests in Pahrump
10/17/13
In a Nevada medical office property buy, a 12.5k sf building sold for $3.8 mil, or just over $300/sf. The building is located at 330 Lola Lane in Pahrump, located about 65 miles west of Las Vegas on the Nevada side of the bor...
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• TEXAS - LA Fitness Popular in Houston
10/16/13
A 45k sf, LA Fitness facility in the city of Houston recently sold for $12 mil ($267/sf). The high-quality property is located at 9633 Westheimer Rd, in a wealthy area of Houston.
The property is surrounded by Wal-Mart, Hom...
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• Phoenix Apartment Buy Financed with $2.86 Mil
10/16/13
Neal Churney, CCIM, and Dave Susank in Johnson Capital’s Phoenix office have arranged a $2.86 mil acquisition loan for a multifamily property in Phoenix, AZ. The property, called Bella Verde, contains 181units and was built ...
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• TEXAS - Hines to Master-Plan High-End Community on 46-Acre Houston Site
10/15/13
In development news out of Houston, TX-based Hines picked up a 46-acre tract of land inside the 610 Loop at Interstate 10, located on Old Katy Rd behind Star Motor Cars and next to The Houston Design Center The firm plans to ...
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