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Category Archives: Multi-Family

Transwestern Development Making Its Mark in the Houston Multifamily Market

HOUSTON – Transwestern Development is making its mark in the Houston multifamily market. The initial tenants have moved into The Hayworth, Transwestern Development’s new multifamily project in the Tanglewood area of Houston. The 246-unit upscale eight-story community is located at 1414 Wood Hollow Drive, near the intersection of Voss Road and Woodway. Greystar Management Services is managing the community, which ... Read More »

Jeronimo Hirschfeld Sells 882 Apartment Units for $60 Million

HOUSTON – One Real Estate Investment, a Miami-based firm led by Jeronimo Hirschfeld, has sold two Houston multifamily properties with 882 units for more than $60 million. Dallas-based S2 Capital, LLC. purchased the 432-unit Avalon at Royal Oaks 2310 Crescent Park Drive and the 446-unit Village at Uvalde, 250 Uvalde Road. “One Real Estate continues to be committed to the Houston market. ... Read More »

Another New Apartment Project Opens in Downtown Houston

HOUSTON – (Realty News Report) – Construction is wrapping up for the Allied Orion Group apartment development, Eighteen25, in downtown Houston. The project is designed by Houston-based Meeks + Partners, and includes eight floors of apartments over three levels of parking. It is near the Pierce Elevated and the Co-Cathedral of the Sacred Heart. The new multifamily community, 1825 San ... Read More »

Banyan Equity Group Buys Seabrook Multifamily Community in SE Houston

SEABROOK, Texas – (Realty News Report) – An investment entity led by Shelley Hunt-Nichols of Banyan Equity Management has acquired the 216-unit Edgelake Apartments on the southeast side of Houston. Edgelake Apartments, built in 1984, are located at 3010 E. NASA Parkway and are 95 percent occupied. Clint Duncan and Matt Phillips of CBRE represented the seller, SEC Edgelake LLC ... Read More »

Hurricane Harvey Launched Houston’s Apartment Market Into an Immediate Turnaround

HOUSTON – (Realty News Report) – Hurricane Harvey accelerated multifamily absorption in Houston and drove a rise in rental rates, according to a new analysis by international real estate firm CBRE. “A quickly draining construction pipeline — with less than 7,700 units underway — and reduced inventory due to flooding is causing supply to tighten further while demand from displaced ... Read More »

Cypressbrook Development Breaks Ground on Apartments in College Station

HOUSTON – Cypressbrook Development Co. of Houston has broken ground on Ariza College Station, a 266-unit apartment community in College Station, northwest of Houston. The project will be located just east of the Highway 6 bypass off of Harvey Road or State Highway 30 about 2.5 miles west of the Texas A&M University campus. Led by Michael Novelli, Cypressbrook Development, ... Read More »

Houston’s Multifamily Building Boom is Coming to an End; While Construction Surges to Record High Nationally

HOUSTON – Although the Southeast Texas multifamily building boom is coming to an end soon, Houston currently ranks third in the nation in apartment construction, following New York and Dallas, according to Yardi Matrix. New York will add 26,739 new units in 2017. Dallas-Fort Worth ranks second with 24,960 completions, followed by Houston with 17,960 units delivered, according to the ... Read More »

Houston-Focused Miami Investor Buys Another Apartment Complex; Moving to Lake Charles Market

HOUSTON – Miami-based Advenir Inc., one of the the most active multifamily investors in southeast Texas, has acquired a project in Lake Charles, La. near the Texas/Louisiana border. A number of casinos are located in Lake Charles, which is a three-hour drive west of New Orleans and two hours east of Houston. Advenir bought the 224-unit The Charlestonian at Lake ... Read More »

Hines Selling Houston Multifamily Project on Café Adobe Site

  HOUSTON – Hines is selling its 21 Eleven apartment project near the southwest corner of Westheimer Road and South Shepherd Drive in Houston’s Inner Loop. Berkadia’s multifamily group, led by Ryan Epstein, will handle the sale of the 215-unit, five-story community, 2119 Westheimer at Peckham Street. Completed in March 2015 on the site of the old Café Adobe restaurant, ... Read More »

Two Multifamily Properties Sold

HOUSTON – Mosaic Residential, a Houston-based multifamily investment and management company, has acquired two apartment communities in Humble on the northeast side of Houston. Clint Duncan and Matt Phillips, senior vice presidents at CBRE, represented the seller, Gaia Real Estate. The portfolio consists of two value-add multifamily assets: Eagle Crest and Timberlakes at Atascocita. Eagle Crest is a two- and three-story, ... Read More »

Multifamily News Briefs From Realty News Report

COLLIERS INT’L SELLS 32 STUDENT HOUSING UNITS NEAR PRAIRIE VIEW A&M PRAIRIE VIEW, Texas — Colliers International handled the sale of 32 units of student housing in four buildings located a mile from Prairie View A&M University in Waller County. The structures, each containing eight 2-bedroom, one-bath furnished units, are at 44422 and 44426 Highway 290 Business, and at 512 ... Read More »

NexPoint Residential Buys One Houston Apartment Complex, Selling Another One

HOUSTON – NexPoint Residential Trust, a Dallas-based REIT, has reported on two multifamily trades in the Houston area. NexPoint acquired Hollister Place, a 260-unit property in Houston, Texas, for $24.5 million, Realty News Report has learned. The project is located in Northwest Houston, near Highway 290 and West Little York at 6565 Hollister Street. One the sale side, the company ... Read More »

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