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Category Archives: Multi-Family

35-Story Apartment Tower Planned Next to Texas Medical Center

HOUSTON – A joint venture of Greystar and Medistar Corp. have announced plans to develop Ascent Med Center, a 35-story apartment project on the western edge of the Texas Medical Center in Houston. Groundbreaking for the 375-unit project will be in the first quarter of 2016 with Hoar Construction as the general contractor. The project, located at the corner of ... Read More »

Capital Markets Shift: Apartment Investing Hits Record; Now Rivals Office

(By Dale King) HOUSTON  – Sales of multifamily dwellings soared across the nation in 2015, as did the total number of dollars invested in apartment units, according to national figures provided by JLL Multifamily Capital Markets. The firm says investors poured almost $139 billion into multifamily product, trumping 2014’s record-setting $106 billion by a whopping 31 percent.  A global provider of ... Read More »

Two High-Rise Apartment Towers Planned for Hot Corner Near Houston’s Galleria

HOUSTON – Two new high-rise apartment towers are planned near a high-profile intersection in the Uptown area, just north of the Galleria in Houston. Ground zero: the intersection of Post Oak Boulevard and San Felipe. Dinerstein Cos. has tied up the northwest corner of San Felipe and Post Oak. Nothing has been announced officially, but Dinerstein’s concept is a 30-story ... Read More »

What Do Apartment Dwellers Really Want for Christmas? … High-Speed Internet, Ample Parking; New Survey Tells All

WASHINGTON, D.C. – What do apartment dwellers want for Christmas? (Well, they probably want these things the other 364 days a year, too.) The latest survey unveils the big items on renters’ wish lists: In addition to a convenient location,  renters say they need lighting fast internet, according to the National Multifamily Housing Council’s (NMHC) 2015 Apartment Resident Preferences Survey.  ... Read More »

The Bow-Wow Factor: Apartment Landlords Addressing Huge Demand for Pet Amenities

WASHINGTON, D.C. – If multifamily developers want to attract tenants with pets they better offer apartments with a major Bow-Wow Factor. Some 67 percent of pet-owning apartment dwellers wants a community dog parks in their apartment, according to a new study by the National Multifamily Housing Council and Kingsley Associates. Another must-have: a dog washing station. Some 54 percent of ... Read More »

Multifamily News Briefs from Realty News Report

DALLAS — Olympus Property has acquired Alexan Arts in Dallas, a 368-unit luxury mid-rise apartment community set on more than 3.5 acres just east of Olympus’ headquarters in Fort Worth. Built in 2015, Alexan Arts’ amenities include a clubhouse with social lounge and resort-style swimming pool with outdoor grills. It is the sister property to Olympus’ Mosaic high-rise property, also ... Read More »

Sun Holdings Acquires Second Multifamily Project in Sienna Plantation

HOUSTON – Sun Holdings Group has acquired the 190-unit Villas of Elysian at Sienna Plantation apartment project southwest of Houston. A town center retail project is planned for a site across the street from the apartment complex, says Sun Holdings Group President Jacob Blatt. Holly Minter, David Schwarz and Tip Strickland of ARA Newmark – Capital Markets arranged financing for the ... Read More »

Thor Equities Starting $125 Million Mixed-Use Project on Houston’s Kirby Drive

HOUSTON – Thor Equities will start construction next month on the Kirby Collection, a 1 million-square-foot mixed-use project on Kirby Drive in Houston’s Inner Loop. The $125 million project will deliver a 25-story residential tower with 200 apartments, 210,000 square feet of office and 65,000 square feet of retail space with completion expected in late 2017. The site is on ... Read More »

Apartment News Briefs from Realty News Report, a Ralph Bivins Publication

HOUSTON – Avenue Community Development Corporation (Avenue CDC) has broken ground on  Avenue Terraces, 48 new mixed-income apartments at 4300 Irvington Boulevard in Houston’s Near Northside neighborhood. Construction financing is being provided by Capital One, N.A. and tax credit equity financing is being provided through the National Equity Fund. “We are very excited to break ground on the new Avenue ... Read More »

Apartment Briefs from Realty News Report, a Ralph Bivins Publication

IMT CAPITAL ACQUIRES 392 APARTMENT UNITS IN HOUSTON FOR $90.1 MILLION HOUSTON – IMT Capital LLC, together with its affiliate, IMT Residential, has acquired IMT Uptown Post Oak, a 392-unit apartment community at 1111 Post Oak Blvd. near Houston’s Galleria The complex was acquired for $90.1 million from Plano, Texas-based Monogram Residential Trust in a deal brokered by David Oelfke ... Read More »

California Firm Buys Houston Multifamily Project

HOUSTON – Santa Rosa, Calif.-based based Praxis Residential, Inc. acquired the 276-unit Carriage Place Apartments in northern Houston. “This is a true value-add play, ideal for repositioning it to be more in line with the surrounding Class A and B complexes,” says Brian Burke, President of Praxis Residential. The property is located near Interstate 45 and FM 1960. Situated on ... Read More »

Home Builder Lennar Making Major Move into Multifamily

MIAMI – Lennar Corp., one of the nation’s largest homebuilders, has created a $1.1 billion fund for a major multifamily development program focused on the 25 largest metropolitan markets in the United States. “In 2011, we drafted a blueprint to become one of the leading developers of class-A multifamily communities in the United States. We identified a multiyear shortfall in ... Read More »

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