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Category Archives: Multi-Family

Austin Firm On Mission to Buy Houston Properties

HOUSTON – PPA Group, an Austin-based multifamily investment firm, has acquired its first apartment project in Houston and it is seeking more opportunities in the Bayou City. The 252-unit Cypress Ridge project, 2331 Bammelwood in north Houston, from CrestMarc of Dallas. “We like the diversity of the economy in Houston and think it is a great time to invest there,” ... Read More »

Crescent Fund Buys Six Multifamily Projects

FORT WORTH — Crescent Real Estate LLC, a Fort Worth-based firm led by John Goff, used its recently established investment fund to acquire six multifamily properties, including the RiverBend Apartments in the Houston area. The 192-unit RiverBend Apartments are located on Wesley Drive in League City, southeast of Houston near Interstate 45. Acquired by Crescent through “off-market” deals, the multifamily ... Read More »

RNR Apartment News Briefs from Realty News Report

  DALLAS DEAL by JLL DALLAS — On behalf of Criterion Property Company and Cypress Real Estate Advisors, JLL’s Capital Markets experts completed the sale of VV&M, a newly developed, luxury multifamily asset in the Addison/Bent Tree Market near the Dallas-Addison line. Mindful Management, LLC, purchased the 310-unit complex. JLL also secured $44.8 million in acquisition financing through Freddie Mac. …………………………………. ... Read More »

Post Properties Opens Houston Project Ahead of $4 Billion Merger with MMA

  HOUSTON – Post Properties has opened its newest Texas community, the 388-unit Post at Afton Oaks. Located in the exclusive Afton Oaks neighborhood, the property serves as the company’s third Houston-area development and is set to offer one- and two-bedroom apartment homes available for move-in October 1, with monthly rental rates starting at $1200. The $80.7 million community is located ... Read More »

Nitya Capital Buys Class B Project Near Astrodome

HOUSTON – Nitya Capital, a Houston multifamily firm led by Swapnil Agarwal, purchased a 235-unit Class B multifamily community near the Astrodome. The project, called The Broadmead, located at 2801 Broadmead Dr., is 95 percent leased. JLL Capital Markets represented the seller of the community, Broadmead Apartments Ltd. Houston’s Class B multifamily market, which is 95.5 occupied, is attracting significant ... Read More »

Hines Sells Project in Disney’s Innovative “Celebration” Community

CELEBRATION, Fla. – Hines has sold its multifamily complex in Celebration, the utopian master-planned community developed by The Walt Disney Company near Orlando. Southstar Capital Group purchased the 306-unit complex from Hines, which was represented by ARA/Newmark in marketing the apartments, called Aviva at Celebration. Aviva at Celebration was developed on 14.4 acres and contains 290,000-SF in six four-story buildings. ... Read More »

AMLI Sells 334-Unit Apartment Project Near Medical Center

HOUSTON – A joint venture of Chicago-based Origin Investments and F&B Capital of Austin acquired the 334-unit AMLI at the Medical Center apartment complex on Almeda Road in Houston. The seller, AMLI, has six other apartment projects in Houston and thousands of units across the nation. The project, located on a 14-acre site near Old Spanish Trail, was completed in ... Read More »

Multifamily News Items from Realty News Report

DALLAS – The National Multifamily Housing Council is holding a Launch Pad technology competition to recognize new tech-based solutions for the apartment industry. The winner will be announced at the NMHC OPTECH multifamily conference Nov. 14-16 in Dallas. The conference and accompanying expo will focus on property operations, marketing, technology, sustainability and telecommunications.                       ……….……………………….  NAPA VENTURES ADDS EIGHT DEVELOPMENTS ... Read More »

Expansion-Minded McCann Developing Multifamily Project Near Austin; Seeks Other Deals

GEORGETOWN, Texas – McCann Realty Partners, which is seeking to expand its multifamily portfolio, has started construction on the 303-unit Retreat at Wolf Ranch Apartments in Georgetown, north of Austin. McCann, headquartered in Richmond, Va. with a regional office in Houston, will act as general contractor on the Georgetown project. McCann said it is “currently seeking new development opportunities and ... Read More »

Deadline Approaches for NMHC Apartment Technology Competition

DALLAS – The National Multifamily Housing Council has announced the deadline for entering its Launch Pad technology competition is Sept. 11, 2016. The competition will recognize new technology-based solutions for the apartment industry. The winner will be announced at the NMHC OPTECH multifamily conference Nov. 14-16 in Dallas. The OPTECH multifamily conference focuses on property operations, marketing, technology, sustainability and ... Read More »

6,000 Apartment Units Sold in Institutional Deal

HOUSTON –  IPA, a division of Marcus & Millichap, handled the sale of a 21-property apartment portfolio, including a 13 apartment complexes in Houston. The portfolio consists of 5,995 multifamily units in Texas, Georgia, Maryland, South Carolina and Virginia. The properties were built between 1969 and 1982, and all have interior and exterior value-add potential. “The 13-property Houston piece of ... Read More »

Texas’ Biggest Landlord? – $4 Billion Deal Creates Nation’s Largest Apartment REIT

  Mid-America Apartment Communities is acquiring Post Properties, creating the nation’s biggest apartment REIT and it will have significant multifamily holdings in Texas and other Sunbelt markets. The $3.9 billion deal will create a multifamily REIT with about 105,000 multifamily units in 317 complexes in Atlanta, Dallas, Austin, Charlotte, Raleigh, Orlando, Tampa, Fort Worth, Houston and Washington, DC. Memphis-based Mid-America Apartment ... Read More »

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