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Tag Archives: multifamily

Q&A Steven Spillette: 2016 Presenting Challenges to Houston Home Building, Multifamily and Office Sectors

HOUSTON – Few people can judge the lay of the land better than an urban planner. Steven Spillette, an urban development strategist also experienced in real estate and urban planning, has done a variety of market studies and financial pro-forma analyses for private and public clients related to single family and multifamily residential, retail, office, industrial, hotel and meeting facilities, ... 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 »

Apartment News Briefs from Realty News Report

HOUSTON – Marcus & Millichap has announced the sale of Walnut Hill, a 165-unit apartment complex in Houston. The property at 1515 Blalock Road had a list price of $7.5 million, said David H. Luther, first vice president/regional manager of the firm’s Houston office. Jeffrey Fript of Marcus & Millichap’s Houston office, had the exclusive listing to market the property ... Read More »

Westmount Realty Capital Buys Multifamily Project in SE Houston

HOUSTON – Westmount Realty Capital of Dallas acquired the 376-unit Summer Cove Apartments, a Class B complex in southeast Houston near Ellington Field. Westmount has renamed the apartment community, built in 1983, Westmount at Summer Cove. A CBRE report recently noted that Houston’s Class B apartment market is very strong. At the Summer Cove Apartments, occupancy averaged 96 percent over ... Read More »

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

BAY CITY, Texas – Houston-based Cypressbrook Company has purchased Hunters Cove, a 326-unit apartment complex in Bay City, Texas, southwest of Houston. The property is located off Texas 60, just south of downtown Bay City. An affiliate of Cypressbrook, Ascension Commercial Real Estate, will manage the property. Richard Zigler, leader of Cypressbrook’s acquisition program, says number of major petrochemical plant expansions ... Read More »

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

KATY, Texas — Austin-based Oden Hughes, LLC, has sold the 354-unit Parkside Grand Parkway community in Katy, Texas, to EGI International Corp. Completed in 2014, the 14-acre property is situated just west of Houston, at the southwest corner of Katy Fort Bend Road and Grand Parkway near Interstate 10. David Mitchell, executive managing director and principal of ARA, a Houston investment ... 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 »

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 »

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 »

Apartment News Briefs from Realty News Report

HOUSTON – California-based Bear Valley Delaware Crystal Falls LLC has acquired Crystal Falls, a 165-unit, multifamily complex at 10950 Westbrae Parkway in southwest Houston. The community, located near US 59 and Beltway 8, is 96% leased. Its amenities include a controlled-access gate. Emerge Crystal Falls LLC of California was the seller. …………………… THE WELLINGTON APARTMENT COMMUNITY SELLS FOR $167 MILLION  ARLINGTON, VA. — Washington ... Read More »

Miami Multifamily Firm Opens Office in Houston

MIAMI – Lloyd Jones Capital, which specializes in multifamily investments, has opened a new office in Houston to cover the Houston and San Antonio markets. Headquartered in Miami, the company specializes in multifamily investment in Florida, Texas and South Carolina. Earlier this year, Lloyd Jones Capital opened an office in the Dallas/Fort Worth market. “Good multifamily investment properties are hard ... Read More »

Transwestern’s Cummins: 700 Units Sold in Houston; Indicates Good Multifamily Deal-Flow in 2015

HOUSTON – Transwestern’s Houston Multifamily Investment Sales Group completed the sale of four Houston multifamily properties totaling 704 units. Transwestern’s Ed Cummins, Tim Gregory, Guadalupe Olivares and Ryan Mendez represented the sellers. “Demand for apartment assets remains vibrant in the Houston market,” said Cummins, managing director. “With our team contracted to market an additional 800 units, we fully expect 2015 ... Read More »

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