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Category Archives: Multi-Family

Pearland Apartments Sold

HOUSTON – Inland Real Estate Acquisitions purchased Retreat at Shadow Creek Ranch in Pearland, Texas. The newly constructed, 370-unit apartment complex is located at 2500 Business Center Drive and is adjacent to Shadow Creek Ranch, a master-planned community. Ryan Epstein of CBRE in Houston represented the seller, McCann Realty Partners, in the transaction. Since its completion, the Class A complex ... Read More »

Embrey Starts Transit-Oriented Multifamily near Dallas

RICHARDSON, Texas — San Antonio-based Embrey Partners, Ltd. has started construction on GreenVUE, transit-oriented development on Greenville Avenue in Richardson, Texas’ Telecom Corridor, near Dallas. “As the most significant and unique high-tech business concentrations in Texas, Telecom Corridor is a particularly exciting development for us,” said Trey Embrey, president of Embrey Partners. The community is scheduled for completion in 2015 ... Read More »

Fracking Play: 3,000 Units Sold in Permian Basin, Where Multifamily Occupancy is 97 Percent

MIDLAND, Texas – The Related Cos.’ Related Real Estate Recovery Fund has purchased 3,128 apartment units, primarily located in the Permian Basin of West Texas. An affiliate of Pivotal Group sold the 3,128 apartment units –  a 21-apartment community portfolio located in Midland, Odessa and Longview, Texas. The portfolio has been extensively renovated since it was acquired a little more ... Read More »

Cortland Partners Buying Multifamily Portfolio for $338 Million

ATLANTA – An affiliate of Cortland Partners is paying $338.5 million to buy a huge portfolio of 28 apartment complexes that will boost its presence in Texas significantly, an executive with the Atlanta-based multifamily firm said. The portfolio includes 5,464 units with a 93 percent occupancy rate with an average monthly rental rate of about $700. Twelve of the apartment ... Read More »

Fein to Develop 271-Unit Project in Cinco Ranch

HOUSTON – Fein, a Houston-based multifamily development, construction and property management firm, has started a new multifamily development, west of Houston. The Grand at LaCenterra, to be located within LaCenterra at Cinco Ranch, a 34-acre mixed-use town center development located in Katy, Texas. With opening set for the 2nd quarter of 2015, The Grand at LaCenterra will be a four- ... Read More »

The Overbuilding Watch List: Texas and Downtown Seattle Should Proceed with Caution While Multifamily Gears up for Big 2014

LAS VEGAS – The National Association of Home Builders is forecasting an increase in multifamily construction in 2014, but a few hot markets, such as Texas, need to be monitored to make sure an oversupply is not developed. “The multifamily market has come a long way since the collapse,” said panelist Guy K. Hays, president of Legacy Partners Residential Inc. ... Read More »

Carter Building Student Housing in San Antonio

SAN ANTONIO  – Atlanta-based Carter is developing San Antonio’s newest high-quality student housing development, Tetro Student Village. The 16-acre community will include 121 flats and 77 townhomes located less than half a mile from the University of Texas at San Antonio (UTSA) campus in north San Antonio. Construction on Tetro Student Village is scheduled to be completed in July. The ... Read More »

Apartment Organization Changes Name to National Multifamily Housing Council

WASHINGTON – The National Multi Housing Council, an apartment industry group of owners, managers and developers, has changed to the National Multifamily Housing Council. The new name helps important stakeholders outside of the industry, namely policymakers, better understand the focus of the organization, the organization said in a statement. The organization also unveiled a new logo and a new tagline, ... Read More »

Atlanta-based Worthing Cos. to Build Multi-Fam in Houston Energy Corridor

HOUSTON –  The Worthing Cos. will build a 342-unit multifamily project on a 9-acre site in Wolff Cos.’s Central Park, mixed-use development in the Energy Corridor of West Houston. Located on the north side of I-10 between North Eldridge Parkway and Texas 6, the apartment, The Heights at Park Row, will open in winter 2014. Possibly the strongest submarket in ... Read More »

Marvy Finger Starts Construction on Apartment Tower Next to Houston Astros Stadium

HOUSTON – If the Houston Astros had a big power hitter, then the construction workers at the 500 Crawford apartment project would need to be on the lookout. But the Astros are horrible. Finger Cos., a Houston multifamily development firm, has started construction on a seven-story apartment building adjacent to the Minute Maid stadium in downtown Houston. It is situated ... Read More »

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