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Multifamily Deals

AUSTIN INVESTMENT FIRM BUYS 327-UNIT APARTMENT COMPLEX SAN ANTONIO — Brixton Santa Fe SA, LLC, an Austin investment group, has purchased Santa Fe Place, a 327-unit apartment complex in northwest San Antonio. The 7-acre property at 4210 Fredericksburg Road was built in 1974. SFP Apartments, LLC, was the seller. ……………………………………… MARCUS & MILLICHAP ARRANGES SALE OF DELUXE UNITS IN WACO WACO, ... Read More »

Houston Added 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, the overall unemployment rate is low. The unemployment rate stood at 4.3 percent in June, an improvement from 5.3 percent a year earlier. Houston gained over 100,000 ... Read More »

Historic Stowers Furniture Building in Downtown Houston Being Redeveloped into Aloft Hotel

HOUSTON – The historic Stowers Furniture building in downtown Houston is being redeveloped into a 173-room Aloft hotel. Built in 1913, the 10-story Stowers building is located at 820 Fannin at Walker Street adjacent to the BG Group Place tower. Construction is underway and the Aloft hotel, part of the Starwood Hotels chain, will open next summer, said Houston developer ... Read More »

The Surprise Deal of the Year: A Conversation with Sue Rogers

Cresa principal Sue Rogers just put together a deal that some thought would be impossible in the summer of 2015 – a new office building being started near Houston’s Energy Corridor. Rogers, along with Cresa colleague Steven Heal, represented Cemex, the Mexican cement and building materials giant, which will anchor a new office building to be developed by MetroNational in ... Read More »

Houston Gained 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June alone, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, where there have been layoffs for the blue-collar workers who produce drill bits and oilfield equipment, the unemployment rate is low. The Houston area unemployment rate ... Read More »

General Motors Buys Austin Building in Business Park and Redevelopment of Dell Property

AUSTIN – Karlin Real Estate sold a 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors. The facility is located within Sector 6, the first phase of the 400-acre master planned technology and office park being developed by Los Angeles-based Karlin and Dallas-based Trammell Crow Co. Sector 6 is comprised of three existing industrial ... Read More »

Fidelis Realty Acquires San Jacinto Regional Mall in Baytown; Major Redevelopment Planned

BAYTOWN, Texas – A Fidelis Realty Partners affiliate has acquired the 1.2 million square foot San Jacinto Mall in Baytown for a major redevelopment. The mall, built in 1981, is located on the east side of Houston on 107 acres at the southwest corner of Interstate 10 and Garth Road, and is anchored by Macy’s, JCPenney and Sears. Houston-based Fidelis ... Read More »

Houston Office Market Feels 2nd Quarter Pain Due to Energy Fallout

HOUSTON – Troubles in the energy industry ripped the Houston office market in the second quarter as the pace of leasing slowed and vacancy rates shot upward, according to the Colliers International real estate firm. Houston’s citywide vacancy rate rose to 14.1 percent in the second quarter up from 11.6 percent the second quarter of 2014, Colliers said. A significant ... Read More »

Despite Oil Crash, June was Strongest Month Ever for Houston Home Sales

HOUSTON – June was the strongest month ever for home sales in Houston, with an all-time record sales of 7,935 single-family homes, Houston Association of Realtors reported. Industry experts had been predicting that the Houston real estate market would stumble in 2015, after oil prices dropped sharply last year. But the predicted downturn has failed to materialize. “We started this ... 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 »

They May Look for Houses Online, But 90 Percent of Consumers Want a Real Live Realty Agent, Too

SANTA MONICA, Calif. – Online searches for listings is the rage and even a hobby for many Americans. But a new survey shows having a living, breathing real estate agent is a top priority for consumers. Ninety percent of consumers believe having a real estate agent is “absolutely necessary to do a deal,” according to a survey by the Santa ... Read More »

Chinese Investors Buy Apartment Project Near Houston’s Galleria

HOUSTON – Strategic Capital of China has entered the Texas market with the purchase of the 372-unit Broadstone Post Oak apartments near the Galleria in Houston. “We are extremely pleased to mark our entry into the Texas market through this milestone transaction,” said Ning Yuan, Chairman and President of Strategic Capital and China Construction America. CBRE’s Ryan Epstein, Clint Duncan ... Read More »

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