JLL Capital Markets announced today the successful sale of Park North Shopping Center, a premier 635,325-square-foot regional retail destination in San Antonio. The transaction marks the largest shopping center sale in the San Antonio market since JLL’s record-setting sale of The Rim in 2021.

JLL worked on behalf of the seller, Sterling Organization, with Dhanani Private Equity serving as the buyer.

Park North Shopping Center is strategically positioned at 842 NW Loop 410, offering exceptional visibility and access to 241,000 vehicles per day on Loop 410. The property is uniquely anchored by Target on a ground lease, an arrangement rarely seen in the retail landscape, and features a diverse mix of entertainment, shopping and dining options including Pinstack, Alamo Drafthouse Cinema, Norris Conference Centers and Outlaw Pickleball.

The 93.3% leased shopping center sits on 45.75 acres and serves a trade area of more than 304,100 consumers within a five-mile radius with an average household income of $95,057. The property benefits from its infill location in the heart of San Antonio, surrounded by affluent neighborhoods, employment centers, entertainment destinations and military hubs.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Chris Gerard and Barry Brown and Directors Erin Lazarus and Whitney Snell.

Constellation Real Estate Partners acquired 29 acres of land at 6339 S. Sam Houston Pkwy E. in Houston, Texas, for the development of Constellation Southbelt, a three-building 375,602-square-foot speculative industrial project. 

Additionally, the firm has acquired 20 acres of land located at 13814 Cullen Boulevard in Houston, Texas for the development of Constellation Cullen, a 282,272-square-foot industrial building. Both of these industrial development projects are in partnership with a real estate fund advised by Crow Holdings Capital, a real estate investment management firm with a strong track record of cycle-tested performance. Since founding in 2021, Constellation Real Estate Partners has built a pipeline of 24 projects, totaling 12 million square feet across key Sunbelt logistics markets.

              Constellation Southbelt broke ground in Q4 2025 and will feature 32-foot clear heights, 412 car parking spaces, 220-foot shared truck court depths, a 75-foot laydown yard for additional outdoor storage and trailer parking, and visibility on South Beltway 8, with access to Highway 3, and 45S.  Building sizes range from 89,792 square feet to 160,233 square feet.  Constellation Southbelt is scheduled for completion in Q4 2026.

Constellation Cullen will break ground in Q1 2026 and will feature 36-foot clear heights, 222 car parking spaces, 130-foot truck court depth, 53 trailer parking spaces and visibility on Cullen Boulevard with direct access to South Beltway 8.  Constellation Cullen is scheduled for completion in Q4 2026.

Marketing and leasing efforts for Constellation Southbelt will be exclusively handled by Zack Taylor, Ryan Byrd, and Jason Scholtz with Colliers and Cape Bell, Greg Holmes and Savannah Smith with CBRE overseeing marketing and leasing at Constellation Cullen.

Morgan and Carlyle celebrated the groundbreaking of Pearl Lake Pointe, a new luxury apartment community at 16435 Creekbend Drive in Sugar Land, Texas.

Construction began in November 2025, and Morgan, together with Carlyle, marked the project’s official start during a groundbreaking ceremony held on December 10, 2025. Joined by representatives of the City of Sugar Land, project partners, and Texas Capital Bank, Morgan celebrated this milestone for the region as the first multifamily site to receive entitlements in Sugar Land since 2012.

Located approximately 20 miles southwest of downtown Houston, Pearl Lake Pointe will encompass a five-story wrap community comprising 376 apartments—including five live-work units—over 6.46 acres. Residents will have access to a resort-inspired pool, a state-of-the-art fitness centers, golf simulator, fifth-floor sky lounge, and a first-floor café. The site also includes 9,940 square feet of commercial office space and a six-story parking garage, with luxury units featuring open-concept layouts with quartz countertops, stainless-steel appliances, in-unit washers and dryers, and balconies in select homes.​

Situated adjacent to the former Fluor campus with picturesque views of Brooks Lake, Pearl Lake Pointe is designed to offer a differentiated lifestyle within Sugar Land’s rare multifamily-zoned land. The delivery of first units is anticipated for the second quarter of 2027, and the development will be managed and owned by Morgan and Carlyle, with project financing provided by Texas Capital Bank.

New multifamily deliveries of just 300,000 units across the United States next year? That’s what RealPage is predicting.

RealPage, a provider of AI-enabled software platforms for the real estate industry, recently released its predictions for 2026’s multifamily market.

And one of the biggest? RealPage predicts that with a growing number of U.S. markets shifting from oversupply toward more balanced supply-and-demand conditions in the second half of the year, U.S. multifamily deliveries in 2026 could fall to as few as 300,000 new units.

That’s well below the level that the Multifamily Housing Council estimates is required to satisfy the demand for new U.S. apartments through 2035.

RealPage predicts, too, that while the number of new apartment deliveries will fall next year, the demand for these units won’t. That’s largely because mortgage interest rates continue to hold above 6%, making it more affordable to rent than buy a single-family home.

This makes it unlikely that a flood of renters will enter the single-family market in 2026, RealPage said.

Lee & Associates Dallas-Fort Worth completed a lease renewal and expansion transaction for a 9,763-square-foot office space at Twelve240, 12240 Inwood Road in Dallas.

Nathan Denton of Lee & Associates Dallas-Fort Worth represented the Tenant, Wealth Partners Alliance, LLC. 

Sean Dalton of Younger Partners represented the Landlord, 12240 Inwood, LLC.

Fairstead closed the $242 million acquisition and rehabilitation of Haverstock Hills Apartments, a 700-unit affordable housing community in Houston’s East Aldine neighborhood.

Haverstock Hills will undergo sweeping renovations, including in-residence, exterior and common area upgrades, as well as enhanced amenities to modernize the property and improve operating efficiencies. Fairstead will also invest heavily in new safety and security measures across the property to improve resident wellbeing and families’ overall experience. 

The acquisition and rehabilitation of Haverstock Hills reinforces Fairstead’s commitment to creating thriving, affordable communities in high-demand markets where families feel safe, connected and supported. With this purchase, Fairstead’s Houston portfolio now includes nearly 2,000 affordable homes, while its national footprint spans more than 27,000 residences across 28 states.

Located at 5619 Aldine Bender Road, Haverstock Hills comprises 44 two-and three-story buildings spanning 22 acres. Residences include a mix of studios, one-, two- and three-bedroom units. All homes are supported by project-based Section 8 contracts and governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions. The community is 100% reserved for residents earning 60% and below the Area Median Income (AMI).

Under Fairstead’s ownership and management, Haverstock Hills will undergo a comprehensive rehabilitation that includes: 

• In-unit enhancements: New kitchens with energy-efficient stainless-steel appliances, updated countertops and cabinetry, refreshed bathrooms with upgraded fixtures and faucets, new flooring, freshly painted walls and new LED lighting. 
• Building improvements: Enhanced lighting and electrical systems, window upgrades, façade replacement and repainting and improved entrances.
• Mechanical and infrastructure upgrades: Systems improvements to boost operating efficiency and ensure long-term performance.

Additionally, residents will enjoy new amenities that include an updated community building and clubhouse, outdoor playgrounds, upgraded laundry facilities and a business center for resident services. Rainbow Housing Assistance Corporation, a nonprofit organization that provides service-enriched housing programs for residents, will oversee resident programming. Services will include K-12 after-school programming, financial literacy and health programs, career training and other recreational and social activities. 

Fairstead will also implement significant security upgrades, including increased lighting, cameras, access control and additional on-site security presence, alongside an enhanced partnership with local law enforcement to further improve safety for residents. 

The acquisition of Haverstock Hills Apartments was supported by Fairstead’s long-standing financing partner, PNC Multifamily Capital, as both the debt and equity provider, Harris County Housing Finance Corporation and Rainbow Housing Corporation, who will continue to provide on-site social services.