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GREA (Global Real Estate Advisors) has announced the sale of four multifamily properties in the Dallas-Ft. Worth Metroplex totaling 851 units: Villa Placita, 122 units in Garland; Antigua Village, 152 units in Fort Worth; WaterWalk Las Colinas, 153 units in Irving; and The Club at Fossil Creek, 424 units in Fort Worth.
Mark Allen and Zac Thomas of GREA brokered the sales.
Berkadia has arranged the sale of Lenox Clear Lake, a 380-unit, Class-A garden-style multifamily community in Houston, Texas. Senior Managing Directors Todd Marix and Chris Curry, Managing Directors Jeffrey Skipworth, Chris Young and Joey Rippel and Director Kyle Whitney of Berkadia Houston marketed the property on behalf of the seller OHT Partners, a multifamily developer based in Austin, Texas. The Praedium Group, a real estate investor based in New York City, acquired the property.
Located at 15500 Middlebrook Drive, Lenox Clear Lake offers one-, two- and three-bedroom apartments ranging from 574 square feet to 1,721 square feet. Individual units feature nine-foot ceilings, vinyl plank-style flooring, granite countertops, gourmet kitchen prep islands, whirlpool stainless steel appliances, kitchen pantries, walk-in closets, framed mirrors, dual vanities, square soaking bathtubs, linen closets, full-sized washer and dryers, and private patios or balconies. The gate-controlled community amenities include a clubhouse, gourmet latte and tea lounge, private workspaces, a fitness center, game room, two resort-style pools, poolside cabanas with flat screen TVs, an outdoor fireplace, two dog parks, private jogging trails, a children’s playground, car wash area, storage units, covered boat storage, attached and detached parking spaces.
Lenox Clear Lake is in walking distance to the Boeing Corporate Campus, and it is near NASA’s Johnson Space Center, the Port of Houston, the HCA Houston Healthcare, Baybrook Mall, the Bay Oaks Country Club and Kemah Boardwalk.
Greysteel arranged the sale of Casa Barranca, a 196-unit multifamily property located in El Paso. Greysteel Senior Director Jack Stone, based in the company’s Dallas and Fort Worth offices, negotiated on behalf of a premier development company in El Paso.
Casa Barranca is a 196-unit multifamily property located at 151 S. Resler Drive. The property was nearly fully occupied and consisted of two and three-bed options. It’s also centrally located next door to Whole Foods and numerous other retail options.
“It’s an incredible milestone for us,” said Senior Director Jack Stone, “marking our 13th multifamily transaction in El Paso in the last three years, totally over 2,200 units.”
Richardson Children’s Theater, Inc. renewed 8,885 square feet at 500 N. Coit Rd. in Richardson, TX. Wil Logan represented the landlord, Hartman Income REIT.
San Antonio, TX (June 6, 2022) — Newmark announces it has completed the sale and financing of Live Oak Place, a 308-unit value-add multifamily asset located in northeast San Antonio along the Texas Innovation Corridor. Newmark Senior Managing Director Jim Young, Senior Managing Director Matt Michelson and Director Chase Easley represented the seller, 29th Street Capital, in the sale. Newmark Vice Chairman Matt Greer and Vice President Andrew Wilson helped arrange the acquisition financing on behalf of the buyer. Remarkably, this transaction marks the Newmark team’s third time selling this property, after prior transactions in 2018 and 2020. The buyer and sale price were undisclosed.
“Live Oak Place presented investors with an outstanding value-add opportunity at the major intersection of IH-35 & Loop 1604,” said Young. “The asset’s location along the booming IH-35 growth corridor attracted both private and institutional investors while offering residents a competitive residential option with convenient proximity to major employment and retail nodes. This asset will be an outstanding addition to the buyer’s growing Texas portfolio.”
Live Oak Place is a 308-unit, garden-style apartment community located at 13012 Oak Terrace Drive in Live Oak, Texas. The property features a mix of studio, one- and two-bedroom units with an average unit size of 668 square feet. Unit interiors feature fully equipped kitchens, tile surround tub/showers, large patios or balconies and vinyl plank flooring in select units. Community amenities include three swimming pools, clubhouse with coffee bar and Wi-Fi, laundry facilities and two dog parks. Approximately one-third of the units remain in classic condition, with another one-third having received partial upgrades, offering the new owner attractive value-add potential in completing upgrades to the remaining units.
Located in Northeast San Antonio, Live Oak Place benefits from a desirable location in proximity to some of the city’s major employers including the Randolph Brooks Federal Credit Union (RBFCU) headquarters, Randolph Air Force Base / Joint Base San Antonio (JBSA), Amazon, Rackspace, and Southwest Airlines. In addition, the property is proximate to an abundance of mixed-use, retail, entertainment and recreation destinations including Forum at Olympia Parkway, Live Oak Town Center, Northwoods, and multiple golf courses, resorts, and parks.
“Live Oak Place was financed by Fannie Mae through Newmark’s Debt & Structured Finance platform in a time when rates were rising and due to the quick diligence from the borrower, they were able to make a quick decision and execute at a great rate,” said Wilson. “This transaction illustrates continued investor appetite for multifamily opportunities in San Antonio and Texas.”
Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@nmrk.com
Houston, June 3, 2022 – Colliers is pleased to announce the sale of ±1.04 acres located at the Southeast Corner of Rudel Road and Buvinghausen Lane in Tomball, Texas. The buyer, Red Grip, LLC, was represented by Andrew Marlowe of KW Memorial/Energy Corridor. Tom Condon, Jr. of Colliers represented the seller, Tomball V.A., LLC, in the transaction.
The subject property is situated adjacent to the V.A. Outpatient Clinic and Tomball Fire Department in the heart of Tomball, just north of Main Street at the southeast corner of Rudel Road and Buvinghausen Lane. Red Grip, LLC plans to construct an 8,200 square foot GRIP Batting Experience facility to provide a high-tech and fun training experience for pitchers and hitters of softball and baseball. This GRIP facility will also be able to accommodate the general public for tourney play and home run derbies.
The property is located in Houston’s Far Tomball retail submarket. The submarket contains 1.8 million square feet of retail space, which is currently 94.4 percent occupied.
For further information please contact:
Tom Condon, Jr. | Principal, The Woodlands
+1 713 830 4007 | tom.condon.jr@colliers.com