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Category Archives: Multi-Family

Apartment Rents Drop in Houston, Bucking National Upward Trend

(By Dale King) HOUSTON – If you’re looking for an apartment at a decent price, best you point your feet in the direction of the Bayou City – Houston. A new report says apartment rents are rising virtually everywhere in the US, but in Houston, rent hikes have slowed to a snail’s pace – if at all. Decreases are being ... Read More »

JLL Secures $9.8 Million for Austin Group to Buy Houston Project

HOUSTON – PPA Group, an Austin-based multifamily investment firm, has acquired its first apartment project in Houston and it is seeking more multifamily opportunities in the Bayou City. The 252-unit Cypress Ridge project, 2331 Bammelwood in north Houston, was purchased from CrestMarc of Dallas. JLL’s Capital Markets secured $9.8 million in acquisition financing for the buyer –  with an interest ... Read More »

Camden: Suffering Houston Apartment Market Braces for Surge in Fourth Quarter Deliveries

HOUSTON – The Houston apartment market, where 23,000 new units will be delivered in 2016, is getting softer, according to Camden Property Trust, a Houston-based apartment REIT with major multifamily holdings in the city. “We do expect further weakening in Houston in the fourth quarter,” said Camden President Keith Oden, in a conference call last week with securities analysts. “In ... Read More »

Transwestern Brokers Sale of 773 Units of Class B and C Multifamily in Houston

HOUSTON – Demand for Class B and C multifamily investment property in Houston remains hot.  Occupancy in B and C markets is around 95 percent, while the Class A market is weakening with excess supply. Transwestern brokered the sale three multifamily complexes in the Houston area: (1) The 172-unit Park Hollow at 4343 S. Shaver in Houston; (2) the 409-unit ... Read More »

Enough Already – 2016 Record Year for Houston Apartment Construction

(By Dale King) HOUSTON – A third quarter report on the status of multifamily unit construction and occupancy in Houston says a record number of apartments is hitting the local market this year, most of them during the second half of 2016. And while this may look good in the Guinness Book of World Records, it’s not so good for ... Read More »

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 »

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