Kalterra Capital Partners has announced the sale of McCarty Commons, a 224,000 square-foot, 249-unit apartment complex, located at 1476 E McCarty Lane in San Marcos, Texas. The project is one of three ground-up multifamily developments in Kalterra’s portfolio expected to transact this year. The 10.4-acre McCarty Commons site falls within the Central Texas submarket, sitting between the San Antonio and Austin major metro areas. Just east of I-35 and the renowned San Marcos Outlet Malls, the project serves the growing demand for Class-A luxury apartments near Texas State University. McCarty Commons began construction in 2018, completed in 2019 and was fully stabilized in 2020. The modern Hill Country design includes luxurious interior and exterior finishes designed to meet the needs of a variety of professionals and university students seeking high-quality amenities and low maintenance living. The project has an urban inspired layout with specialized project amenities including a resort-style pool, volleyball court and a modern, integrated clubhouse. Kalterra has experienced success due to its ability to develop design-forward communities in key submarkets. The company is building a legacy to challenge the status quo, maintain an investor focus, and move quickly and efficiently to deliver outstanding results to its investors. Kalterra is poised for significant growth with many new multifamily projects across DFW and Central Texas set to break ground in 2021. Cross Architects, Shreve Land Construction, Sunridge Management, Bellwether Enterprises, and Warsaw Realty Group supported Kalterra in the execution of the project.

NAI Partners has recently arranged two offices leases in San Antonio. The first was a 4,143-square-foot office lease for Good Shepherd Hospice at 5811 W University Heights Boulevard in San Antonio, Texas. NAI Partners’ Jorge Martinez and Clare Flesher, along with Brandon LaSala of NAI Heartland, represented the tenant in the transaction. Good Shepherd Hospice opened its first office in Oklahoma City in 1995. Inspired by a mission of providing compassionate and progressive hospice care, founder Don Greiner led a small team of dedicated staff as they grew from their first admission on February 28 to 188 patients by the end of that year. The second was a 1,769-square-foot office lease renewal for Alegre Home Health at 4242 E Piedras Dr in San Antonio, Texas. NAI Partners’ Jorge Martinez represented the tenant in the transaction.

Austin-based Prospect Real Estate—a full-service, family-owned and operated boutique residential real estate firm focusing on Austin’s evolving urban core—today announced its exclusive listings HŌM Neighborhood Condominiums and Axiom East Condominiums have sold out. “There are two main driving forces behind the increasing demand for urban condominiums in Austin– the low inventory of single-family homes and buyers’ desire for attainable city living,” said Prospect Real Estate CEO Emily Lee. “Last October, when HŌM was 40% sold and only six weeks away from move-in, we said we expected the remaining residences to sell quickly, and we were right. We saw the same thing happen with Axiom East, which is located near HŌM and appeals to the same demographic—largely local millennials and young professionals, first-time homebuyers, buyers looking to downsize, and a sprinkling of out-of-staters.” Prospect Real Estate is the exclusive listing firm for Austin-based Pearlstone Partners, a leading developer in Austin’s urban core. Rather than focusing on ultra-luxury projects, Pearlstone concentrates on making its residential projects attainable for mid-tier buyers, enabling them to enjoy the many unique restaurants, bars, retail shops, and other amenities available in the flourishing downtown, Central, and East Austin districts. Locating projects in denser neighborhoods, where land is less readily available but the need for housing is strong, requires project designs that yield more housing units on smaller parcels of land compared to single-family housing. Between December 22 and February 24, Prospect Real Estate closed on 36 HŌM Neighborhood Condominium residences, totaling 61% of HŌM’s sales. Similarly, Axiom East closed on 30 residences between February 1 and March 22, totaling 50% of their sales in the first quarter of 2021. Lee credited the pace of HŌM and Axiom sales to overall market conditions, proximity to downtown, attainability, neighborhood appeal, building aesthetics, and move-in-ready options. Lee stated Axiom East, located just five minutes from downtown at 2220 Webberville Road, off East 7th Street, has also closed out. The property is comprised of 60 condominium homes that will be ready for move-in in second quarter 2021. Additionally, Axiom East features six affordable housing units, which the city is accepting applications. “The rate at which HŌM and Axiom East sold is becoming the new norm,” said Lee. “The increasing market demand and overall lack of inventory have paved the way for record sales that were once unheard of in the Austin real estate market.” Prospect Real Estate Closes Out HŌM Condominiums and Axiom East Page 2 of 2 Cascade Condominiums is another attainable Austin residential development by Pearlstone. The Cascade community is located at 25th and Lamar Boulevard, nestled in a vibrant, yet tranquil Old Austin neighborhood with a rich, historic past. Set on a rolling hill overlooking Pease Park, just off the banks of Shoal Creek, Cascade is expected to be move-in ready in ,third quarter 2022 and is currently 50% presold. “Looking ahead, we see another strong year in 2021, with the Austin market getting hotter with the continued influx of company relocations and the growth of companies such as Tesla, Oracle, Apple, and Samsung,” said Lee. “A balanced housing market is a 6% inventory level, and we currently sit at about 0.4%. Supply is dropping as demand is rising. Pearlstone develops and Prospect Real Estate represents exactly the product a large segment of Austin buyers is looking for—a luxe live-work-play environment with the amenities they prefer, close-in to downtown and all its entertainment options, and free from the responsibilities of single-family homeownership.”

As the face and skyline of the Burnet Road corridor continue to evolve, The Domain is continuing to attract large-scale employers and drive competition in the North Austin real estate market, according to local business leaders. At the North Austin Growth Summit, hosted April 14 by the Austin Business Journal, technology executives, real estate experts and development firms provided insight on the economic potential of the North Austin area. Throughout the virtual meeting, leaders said The Domain, which opened its first phases in 2007, continues to attract high-skill labor talent to the area through an employment market rife with tech opportunities and a real estate market close to nightlife and entertainment amenities. “You think of downtown Austin being the core [of the city], but when you look at the population center of Austin, … The Domain is really that center point,” said Will Jenkins, a principal at Stonelake Capital Partners. “You see employers gravitating to this geographical location for that reason.” Now, with a few major developments ready to deliver product in the next 12 months, The Domain’s footprint in North Austin may expand even more. Click to read more at www.communityimpact.com.

StreetLights Residential, a national developer of multifamily and mixed-use communities based in Dallas, has broken ground on the third phase of its newest luxury multifamily community in Austin. Located in the rapidly growing Lakeline neighborhood in northwest Austin, the new development will feature 377 apartment homes. StreetLights completed the project’s first phases within the past few years and saw strong demand for both, with The Elizabeth opening in 2019 and The Michael opening in 2016. Residents will have the option to choose from several floor plans, ranging in size from 676 to 1,763 square feet, with one-, two-, and three-bedroom floor units available. Each apartment home will feature granite countertops, tile backsplashes, deep pots and pans drawers, custom flooring, dine-in island seating, urban mudrooms, custom cabinetry including a pull-out trash drawer, spa inspired bathrooms, oversized walk-in closets, and Sonos smart speakers. Select units will also offer smart home features, an all hard surface flooring option, oversized outdoor living spaces and screened porches. Residents will also have access to outdoor amenities including an expansive pool courtyard with entertaining space and a private yoga lawn. The interior common area spaces are designed to foster an inviting, comfortable environment for residents to gather, with access to a variety of amenities including a lounge with flexible co-working spaces, a creative makers craft space, kitchen, and lounge with space for personal projects or art classes, a residents’ coffee bar, a full fitness center featuring high-end cardio and strength equipment, a flex room with spin bikes, fitness echelon mirror and ballet bar, a fully-equipped pet wash and spa, secure interior bike storage, and two private dining spaces for intimate dinner parties or coworking space. StreetLights Creative Studio is the architect of record for the project and is handling all interior design in-house. SLR Construction, LLC, is the general contractor. Other StreetLights’ Austin projects currently in development include The Bowen, a 340-unit, luxury high-rise community located in the Domain. StreetLights’ has completed five Austin projects to date, including two northwest Austin communities, The Elizabeth at Presidio, a 373-unit luxury apartment community, completed in 2019 and The Michael at Presidio, a 415-unit apartment and townhome community, completed in September 2016; Flatiron Domain, a five-story luxury residential community; The Catherine, a 19-story, 300-unit luxury high-rise located in downtown Austin, completed in October 2015; and The Kenzie at the Domain, a six-story residential community comprised of 279 units, completed in August 2014.