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Category Archives: Multi-Family

Trammell Crow/Hanover Apartment Tower Expected to Sell for $325 Million

AUSTIN – (Realty News Report) – Northshore, a 38-story downtown apartment tower developed by Houston-based Hanover Co. and Trammell Crow’s High Street Residential, is being offered for sale. The 439-unit tower, completed in 2016, is located at 110 San Antonio St. at Second Street. The building has views of Lady Bird Lake. The project includes 52,000 SF of office and ... Read More »

As WTI Passes $70 Per Barrel, Koontz Sells Two Multifamily Projects in Permian Basin Area

ODESSA, Texas – (Realty News Report) – San Antonio-based Koontz Corp. sold  two multifamily developments in the Permian Basin of West Texas to Fort Worth-based Olympus Property. The announcement comes as West Texas Intermediate crude crossed the $70 per barrel threshold for the first time since 2014. “Our investments in the Midland-Odessa multifamily market have proven to be quite successful,” ... Read More »

Chicago Investor Buys 330 Multifamily Units

HOUSTON – (Realty News Report) – Waterton, a Chicago-based real estate investor and operator, has acquired Carrington at Barker Cypress, a 330-unit apartment community at 7202 Barker Cypress Road in Cypress, Texas – 25 miles northwest of downtown Houston. Houston’s apartment occupancy rose sharply last year following Hurricane Harvey flooding, which damaged 204,000 single-family and multifamily homes. “Houston as a ... Read More »

Florida Investor Buys Houston Apartments Near Galleria

HOUSTON – (Realty News Report) – Florida-based Avesta Communities acquired the 426-unit Chateaux Dijon Apartments in an off-market transaction topping $45 million. The project is set on 10.8 acres at 5331 Beverly Hill St., within walking distance of the Galleria. Chateaux Dijon was 90 percent leased at sale time. The buyer’s broker, Glenn Dickerson of NewQuest Properties negotiated with the ... Read More »

Transwestern: Boomers Downsizing Into Apartments; But They Still Want Amenities Like Home

HOUSTON – (By Dale King, Realty News Report) – Many baby boomers facing the reality of advancing age, the hard truth of children moving out for good and the ongoing need and cost of maintaining a large structure are pulling up stakes and leaving the family homestead in favor of apartment living. But most of them don’t want to give ... Read More »

San Antonio Multifamily Firm Acquires 352 Units in Houston

HOUSTON – Valcap Group has acquired a 352-unit multifamily community in Katy, west of Houston in an off-market transaction, according to CBRE. The apartment property, The Remington Katy, now known as Luxe at Katy Apartments, is located at 22631 Colonial Parkway. Matt Phillips and Clint Duncan, both Senior Vice Presidents with CBRE in Houston, represented the seller, Conti Street Partners, ... Read More »

Hines New 32-Story Apartment Tower to Include City’s First “Chef Hall”

HOUSTON – (Realty News Report) – Aris Market Square, the new 32-story apartment tower developed by Hines in downtown Houston, will have the city’s first “chef hall.” The 9,100-SF ground-floor restaurant space, called Bravery Chef Hall, is “an evolution of a food hall and offers fine dining with the speed of counter service,” said Hines. Ziegler Cooper Architects, working in ... Read More »

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 »

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