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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 »

San Antonio Multifamily Project Sold

SAN ANTONIO — CBRE Capital Markets’ multifamily team announces the sale of Broadstone Colonnade on behalf of Kansas City, Missouri-based Price Development Group. An anonymous buyer purchased the 282-unit, Class A multifamily project in northwest San Antonio.. Broadstone Colonnade, at 4330 Spectrum One in San Antonio, is made up of 282 one-, two- and three-bedroom units featuring eight floor plans. ... Read More »

Peaked Out? Is Houston Multifamily Surge at Its Crest?

HOUSTON – With apartment construction at its highest level in 14 years, investment sales prices for Texas multifamily complexes have plateaued, according to a Houston real estate valuation firm. “Apartment construction has been incredible in Texas metropolitan areas in recent years,” says Matthew Deal, principal of the Deal Sikes & Associates valuation and consulting firm. “With this massive new supply ... Read More »

Woodway Square, a 595-Unit Project, is Sold

HOUSTON – Fairfield Woodway Square, LLC purchased Woodway Square, a 595-unit, Class A, garden-style multi-housing community in Houston. HFF marketed the property on behalf of the seller, Alecta Houston, LLC. In addition, HFF assisted in securing a 10-year floating-rate loan on behalf of the buyer through M&T Realty Capital Corporation (FNMA). Woodway Square is located at 1200 Winrock Boulevard near ... Read More »

Rents Up 16 % in Houston, But More Hikes to Come – Everywhere

The Trulia organization reported that Houston led the nation last year with a 16.2 average gain in apartment rents. But Houston’s not alone. There are rent hikes more to come in 2013, for most markets in the nation, according to new projection released by The MORE Group. The MORE Group is projecting overall nationwide apartment rental rate increases of 3 to ... Read More »

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