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Category Archives: Multi-Family

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 »

Ahead in the Standings: Finger’s New Multifamily Community Off to a Good Start Near Astros Field

HOUSTON – The Finger Companies, a pioneer in Houston’s downtown multifamily construction trend, is off to a good start in the lease-up of its new 500 Crawford apartment community, which is across the street from the Houston Astros stadium. The first move-ins started this spring, and Finger reports the 500 Crawford property is currently about 40 percent leased. The 400-unit ... Read More »

Chicago Firm Buys Six Texas Multifamily Projects

IRVING, Texas — InterCapital Group of Chicago has acquired 1,711 multifamily units in the Dallas/Fort Worth area. Rob Russell of Greystone arranged $107 million in financing in Fannie Mae Delegated Underwriting and Servicing loans for the acquisition. The six apartment complexes include: Wimbledon in Lewisville, Texas; Greenwood Creek in Benbrook, Texas; Catalina Apartments in Lewisville; Summer Gate Apartments in Irving; ... Read More »

Three Deals Closed in Houston’s Hot B&C Multifamily Market

HOUSTON – Transwestern’s Houston Multifamily Investment Services Group, demonstrating a trend for Houston’s hot market for Class B and C units, has completed the sale of three apartment properties totaling 786 units. “Demand for Class B and C apartment assets remains vibrant in the Houston market,” said Transwestern Managing Director Ed Cummins. “These deals represented a blend of local and ... Read More »

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