RNR Real Estate Briefs – HOU, AUS, DAL, SAT – and more

RNR Real Estate Briefs from Realty News Report…. WEBSTER, Texas – Partners Capital — the investment management platform and development arm of Partners Real Estate Company has sold Clear Lake Business Center, a 149,305-SF flex park in Webster, a southeastern Houston suburb. Partners Capital was represented by Cary Latham and Josh Lass-Sughrue of NAI Partners, the real estate services business of Partners Real Estate Company.

HOUSTON – Reed Vestal  and John Erck of Junction Commercial Real Estate represented an affiliate of Junction’s Private Equity division in the acquisition of an 11.8-acre property at 5115 South Shaver Street in Houston. The seller, 5115 South Shaver LLC, was represented by Paul Dominique and Zack Taylor of Colliers.

HOUSTON – The 270-unit A-1 Mini Warehouses, 5819 Victory Drive in Houston have been sold, according to  Marcus & Millichap.

HUMBLE – Colliers announced the sale of a 24,000-SF, two-building industrial facility at 2413 Wilson Road in Humble. The buyer, Jaguar Commercial Properties, was represented by Chase McAteer of Oxford Partners.  Tom Condon Jr. of Colliers represented the seller, R.B. Machine Works.

ALVIN – The 124-unit Westwood Park apartments in Alvin has been sold, reports Berkadia.

MISSOURI CITY – Sip and Sweets Daiquiri Bar leased 2,068 SF at 9050 Highway 6 South in Missouri City.The landlord, High Revocable Trust, was represented by Gareth Kohlhausen of Latipac Commercial. Melissa Gerber Brams of Gerber Realty represented the tenant.

HOUSTON – Leva Living will build a 162-home single-family Build-To-Rent community on West Lake Houston Parkway in the Atascocita area.

TEXAS – RNR Real Estate Briefs

AUSTIN – CBRE announced the sale of The Beverly, a 120-unit, value-add midrise apartment community in the Red River Cultural District of Downtown Austin. An entity advised by Zurich Alternative Asset Management purchased the property, 901 Red River St., from New York-based Arel Capital and Austin-based F&B Capital. Charles Cirar, Michael Wardlaw, and Colin Cannata with CBRE Capital Markets’ Central Texas Multifamily team represented the seller. Zurich’s Luis Gordillo and Sean Bannon, represented the buyer.

AUSTIN – The Barvin Group, a Houston-based multifamily firm, has acquired the 279-unit Aura of Lamar. The seller was Trinisic Residential, which developed the 5-story property, 5629 Lamar, in 2021.

SAN ANTONIO – Lightstone Capital provided an $11.8 million mortgage to The Brennan Pohle Group & Next Space Development for the acquisition and renovation of a 121-unit apartment property in northwest San Antonio.  The property, built in 1973, is located at 1847 Babcock Road. The apartment complex, known as Oak Hills Village, will be renamed to The Oaks @ Medical Center. The Brennan Pohle Group is based in Austin and San Diego.

AUSTIN – Cadence McShane Construction Co. celebrated the groundbreaking of Goodwin Apartments, a 364-unit project by Sabot Development in Austin.

DALLAS – Sustainable Modular Management, a full-service custom commercial modularconstruction and design firm, has relocated its headquarters to 2500 Legacy Drive in Frisco. NAI Robert Lynn’s Dan Jardine and Brett Bofinger, market director, represented the tenant.

RICHARDSON– Andy Anderson, Principal at Restaurant Properties Group, represented TPH 2929 NCX, LLC, the purchaser of the Atrium at North Creek, an 85,000-SF office building at 2929 North Central Expressway, Richardson. The property is to be held for long-term investment.  Tom Strohbehn of Younger Partners represented TH/CREA 2929 NCX, LP, the seller.

IRVING   Dallas-based CanTex Capitalacquired two industrial buildings located at 2205-2255 East Pioneer Drive and 600 North Wildwood Drive. This sale marks one of the largest transactions in the Brookhollow industrial submarket in the last three years. NAI Robert Lynn Vice President, Chase Miller, and Executive Vice President, Robert Blankinship, represented the buyer and seller in the transaction.

DALLAS – Glenn Gehan co-founded Gehan Homes, now the ninth largest private homebuilder in the United States, with his father and brothers in 1991. In 2018 Gehan launched GFO Home  in Austin, and has now expanded the company into Dallas.

NATIONAL – RNR Real Estate Briefs

DENVER – JLL Capital Markets  just arranged $24.9 million in construction financing for Alpine Investments to develop a 119-unit, Class A, mid-rise apartment complex in the south Denver community of Englewood, Colo.

ATLANTA – Transwestern  Real Estate Services announced its Southeast Investment Services Group has brokered the disposition of an 87,025-SF  office property at 2300 Lake Park Drive SE in Smyrna, Georgia. Transwestern Senior Managing Directors Kevin Markwordt and John Bell represented the seller, Real Capital Solutions, in the sale to Greenleaf Capital, which purchased the value-add asset for $9.3 million.

ANAHEIM, Calif. —  The Mogharebi Group has completed the sale of Echo116 in Anaheim, a116-unit community located at 1727 Glenoaks Avenue. The property sold with multiple offers for a Northwest Anaheim area record price of $37,250,000, equating to $321,000 per unit or a record-setting price per SF of $494. The buyer is a private investment group in San Jose area.

 ETC:  RNR Real Estate Briefs

HOUSTON – Stream Realty Partners announced four transactions:

  • Harris County Improvement District #1 expanded its lease by 15,356 SF at Post Oak Business Center at 5805 Westview Dr. Boone Smith  and Garret Geaccone  with Stream Realty Partners represented the Landlord, DRA Advisors.
  • Sweet Porcelain, LLC leased 4,373 SF at Commerce Park Southwest at 12919 Southwest Freeway. Boone Smith and William Carpenter with  Stream Realty Partners represented the Landlord, Maple Tree US Management, LLC.
  • Harris County Facilities and Property Maintenance leased 41,995 SF at Northwest Industrial Park, located at 5730 Campbell Road.  Garret Geaccone and Boone Smith with Stream Realty Partners represented the Landlord, Sealy and Co.
  • SCL Cold Chain, LLC leased 12,910 SF at Prologis Greens Parkway 3, located at 845 Greens Parkway. Jeremy Lumbreras and William Carpenter represented the Landlord, Prologis.

Jan. 22, 2022 Realty News Report Copyright 2022

Photo: 2021. Trammell Crow’s  new building in Austin for Google. Ralph Bivins, Realty News Report Copyright 2022

The RALPH BIVINS PROJECT podcast welcomed guest Frank Nothaft, chief economist of CoreLogic. LISTEN:

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