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Nicholas Residential Buys 2,115 Houston Apartment Units

HOUSTON – (Realty News Report) – Nicholas Residential, a Dallas-based real estate investment firm, purchased the Beltway Portfolio, a collection of six multifamily properties located throughout the Houston area totaling 2,115 units. Justin Shuart and Jason Pumpelly, with Cushman & Wakefield’s Equity, Debt and Structured Finance team in Dallas, arranged the equity on behalf of Nicholas Residential. The seller was ... Read More »

Ronald McDonald House Expands at Texas Medical Center

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – An adorable 4-year old moved in to Ronald McDonald House Houston at 1907 Holcombe with her parents last week. She looked out the towering window and spied the red, blue and yellow playscape. “Can I please go out now?” she asked. The cheery, family-centric atmosphere has been added 40 ... Read More »

Home Affordability: The Rent vs Buy Question

HOUSTON – (By Dale King, Realty News Report) – The monthly cost of owning a home has surged this year, decelerating existing home sales to the slowest pace in more than two years, says a research brief drafted this month by Institutional Property Advisors, part of Marcus & Millichap Real Estate Investment Services Inc. Home sales declined in July for ... Read More »

1,331-Unit Westchase Multifamily Portfolio Acquired

HOUSTON – (Realty News Report) – Valcap Group LLC acquired 1,331 multifamily units in the Westchase District of Houston, CBRE reported. The value-add portfolio included the Westchase Estates, Westchase Grand and Westchase Preserve communities. CBRE’s Matt Phillips and Clint Duncan represented the seller, Ascension Commercial Real Estate and Moriah Group. CBRE’s Michael Thompson, Executive Vice President, arranged financing on behalf ... Read More »

Houston Strong: Home Sales Up 9 Percent in July

HOUSTON – (Realty News Report) – The Houston continued its summer surge in July as single-family home sales rose 9.1 percent over July of last year, according to the Houston Association of Realtors. Propelled by strong job growth, the Houston housing market is headed toward a record-setting year. The most recent economic statistics show the Houston area gained 94,600 new ... Read More »

Clay Developing Distribution Building in Cedar Port Business Park

HOUSTON – (Realty News Report) – Clay Development & Construction Inc., a Houston firm led by Robert Clay, is developing a 349,440-SF, rail-served distribution building in the Cedar Port Business Park on the east side of Houston. The site is just east of FM 1405, not far from the Post of Houston and Interstate 10. Both Union Pacific and Burlington ... Read More »

Three Self Storage Projects Sold

HOUSTON – (Realty News Report) – Bellomy & Co., a commercial real estate firm with offices in Austin and Houston, has handled the sale of three Houston-area self-storage facilities. The company announced the sale of Gleannloch Storage in Spring to an out-of-state operator. Made up of 601 units – some climate-controlled, others not, along with boat, RV and office warehouse ... Read More »

NEORig Expands Oil Rig Manufacturing Plant

CONROE, Texas – (Realty News Report) – NEORig, a manufacturer of land drilling rigs and oilfield products, has added 57,024 SF of assembly space at its 80-acre Conroe Business Park campus located at 100 North FM 3083 East. The expansion by KDW, a Houston-based design/build firm, doubles NEORig’s assembly space, part of the company’s 250,000 SF of manufacturing, finishing and ... Read More »

CDPQ Makes Investment in Avison Young

Toronto and Montréal, Canada – (Realty News Report) – Mark E. Rose, Chair and CEO of the Avison Young commercial real estate services firm, announced that Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional fund managers, has made a $250-million preferred equity investment to accelerate Avison Young’s strategic growth plan. Avison Young will use the ... Read More »

Downtown Tower Sold

HOUSTON – (Realty News Report) – A partnership between TRC Capital Partners and Amstar America has acquired 1001 McKinney, a, 375,440-SF office building in downtown Houston. The seller, a partnership between Cameron Management and Silverpeak Real Estate Partners, was represented by HFF. At 23 stories, the building is overshadowed by skyscrapers twice its size today.  But when it was built ... Read More »

Buy or Rent? What’s Really Best for Your Bottom Line?

HOUSTON – (By Dale King, Realty News Report) – A trio of professors from two South Florida universities who create a quarterly housing report have offered people in the home acquisition market a riddle — and a possible redirection — in their latest publication. How can a person make more money – purchase a house or rent a residential unit? ... Read More »

Green Building: New Austin Master Planned Community Offers Geothermal Energy

AUSTIN – (By Dale King, Realty News Report) – Whisper Valley, a large planned community under development in the area Austin area, is tapping alternative, sustainable energy sources, including geothermal energy, for all its heat and air conditioning needs. Though Whisper Valley is not the first project to feature sustainable, energy-smart homes, the project’s developer says it is the largest ... Read More »

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