Wednesday , 24 August 2016
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NMHC Creates Apartment Research Foundation

WASHINGTON, D.C. — A new foundation dedicated to apartment industry research has raised over $2.25 million in cash commitments from NMHC members to kick start the next generation of industry insight and analysis. Created by the National Multifamily Housing Council (NMHC), the new NMHC Research Foundation will address critical voids in apartment data and raise the industry’s standard of performance. ... Read More »

John Goff Buys Dallas Office Building

DALLAS –  Goff Capital Partners, a Texas firm led by John Goff, has purchased International Plaza III, a 354,182-SF, Class A building in Dallas, the JLL real estate firm reports. Goff is also chairman and CEO of Crescent Real Estate Holdings of Fort Worth. Managing Directors Jack Crews and Evan Stone, and Vice president Lauren Zimmer led the JLL team ... Read More »

Pasadena, Texas – Shopping Center Deals on Houston’s East Side

PASADENA, Texas – Colliers International announced John O. Harris Ventures, LP has sold the Fairmont Central Shopping Center  located at 4118 Fairmont Parkway in the Pasadena community, on the east side of Houston. The buyer was Fairmont Central LLC. Marshall Clinkscales of Colliers International, who brokered the deal, said in a recent interview job growth on the east side 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 »

Goldman Sachs Backing Launches Construction of Austin High-Rise

AUSTIN – Goldman, Sachs & Co. has joined forces with the Kor Group in developing a 33-story hotel and condominium project in downtown Austin. The 500,000 SF project, called Proper Hotel & Residences, will break ground in the second quarter and is slated for completion in 2018. The Proper Hotel will have 244 hotel rooms and 99 condos priced at ... Read More »

Will Houston’s Retail Center Market Get Overbuilt? – The Q&A with Jason Gaines of NAI Partners

HOUSTON – The retail scene in Houston is hotter than an August day in the Panhandle.  The office market is awash in space, the multifamily sector is seeing too many units and too few tenants, but retail is hot. With occupancy at an impressive 95 percent, the retail sector continues to experience boom times. It’s no wonder NAI Partners, one ... 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 »

Is Houston Heading for a Record Year in Home Sales?

HOUSTON — The Houston residential real estate market, defying the weak job growth in the local economy, is outpacing the sales pace of 2015. Although sales were off in July, on a year-to-date basis, home sales are still up about one percent compared to this point in 2015, according to the Houston Association of Realtors. According to the latest monthly ... Read More »

Hines Sells Landmark Skyscraper in Downtown Dallas for $273M

DALLAS – Hines REIT, which is liquidation mode, has sold its 55-story Chase Tower in downtown Dallas for $273 million. The 1.3 million SF tower, built in 1987, was sold to the New York-based Fortis Property Group. (Hines just sold another building in downtown Dallas – its 17-story One Victory Park. And the Hines REIT just announced the sale of ... Read More »

Weingarten Pays $285 Million for 668,000-SF Center in Fla.

  MIAMI – Weingarten Realty Investors, a Houston-based REIT, purchased the Palms at Town & Country center for $285 million. The 668,000-SF center, located on 70 acres in suburban Miami in the Kendall community, is anchored by Publix, Kohl’s and Nordstrom Rack. The seller, TIAA Global Asset Management, was represented by HFF. Weingarten has been active in the Miami area ... 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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