NorthMarq arranged acquisition financing of $24.6 million for The Park on Wurzbach, a 264-unit multifamily property located at 4707 Wurzbach Road in San Antonio. NorthMarq arranged the 10-year financing for the borrower, Venterra Realty, through its in-house Fannie Mae team. Originating producers included Faron Thompson, regional managing director and Ali Meek, vice president of NorthMarq’s Atlanta office, and Matthew Bronstein, vice president of NorthMarq’s Houston office. The Park on Wurzbach provides ease of access to nearby I-410, Ingram Park Mall, Westover Hills, St. Mary’s University and major employment centers, including the South Texas Medical Center and USAA, making it a premier residential location. Constructed in 2019, the community is located just nine miles from downtown San Antonio. It features high-quality interior finishes, including stainless steel appliances, granite countertops, subway tile backsplash, wood plank flooring, and a washer and dryer. The property’s high-end community amenities include a two-level swimming pool, a 24-hour fitness center with a separate yoga and spin studio and a grand clubhouse with multiple TVs, kitchen, pool table and shuffleboard. Residents enjoy easy access to numerous dining and retail options surrounding the community. “Fannie Mae was able to provide a competitive financing option and certainty of execution for the long-time borrower, Venterra Realty, who leaned on their relationship with NorthMarq Atlanta’s team for a seamless transaction on a high-quality asset,” said Thompson. The NorthMarq Atlanta and Fannie Mae team met the borrower’s proceeds and timing request for a quick closing despite the current changing market conditions.

NAI Partners San Antonio recently arranged more than 10,000 square feet of leases across two transactions, one in San Antonio and the other in Houston. In the first, NAI Partners’ Jorge Martinez and Graham Peavey represented tenant VIP Petcare in a 3,960-square-foot office lease at Blossom Business Park in San Antonio. In the second deal, NAI Partners’ Martinez and Clare Flesher represented the tenant, Healthline Medical Equipment in an 8,600-square-foot industrial lease at 4500 N. Sam Houston Parkway West in Houston.

GlobeSt. Real Estate Forum Names Casoro’s Chief Investment Officer, Chi Hathiramani in Fifty Under 40 in the Commercial Real Estate Industry

AUSTIN, TEXAS, October 12, 2020 – Casoro Group’s Chief Investment Officer, Chi Hathiramani has been recognized nationally as a remarkable leader within commercial real estate in GlobeSt Real Estate Forum’s Fifty Under 40 in 2020. The criteria sought out talented, young professionals who have a solid track record of noteworthy transaction volume and significant contributions to their company’s overall success. Hathiramani, who recently was named Casoro Group’s CIO in December, leads the firm’s investment strategy, acquisitions, asset management, capital raising, and investor relations teams. Over the last 15 years, he has participated in $2+
billion in multifamily, office, student housing, and retail transactions. Most recently, Hathiramani participated in the $165M acquisition of a 1,070 multifamily portfolio in Dallas. Through Chi’s work as a Board Member of Chinmaya Mission and through Casoro Group’s vision to provide Better Homes for Better Lives, Chi is reaching his lifetime goal to serve others on a higher level. He desires to truly provide value to people’s lives by understanding what motivates and drives people to live a better life,
what’s preventing them from achieving that, and finding solutions to close that divide. Another way Chi is accomplishing this goal is through Casoro Group’s new social impact program. The program’s objective is to close the generational wealth gap and create diversity in the commercial real estate industry by bringing commercial real estate education, experience, and opportunities to minority students. Casoro Group is an award-winning multifamily-focused real estate investment firm with a mission to provide Better Homes for Better Lives. Casoro seeks multifamily investment opportunities in the U.S. Sunbelt region for its family office, high-net-worth, and institutional clients. As a vertically-integrated real estate investment firm and parent company of CLEAR Property Management and Upside Avenue multifamily REIT, Casoro is in a position to create opportunities for investors to enjoy all the benefits of multifamily real estate ownership.

JLL Capital Markets arranged $27.1 million in acquisition financing for the purchase of Cannon Oaks Apartments, a multi-housing property in Austin. JLL worked on behalf of the borrower, Old Three Hundred Capital, to secure the loan through Prime Finance. ArrowMark Partners was also engaged as a capital partner. Built in 2001, Cannon Oaks Apartments is a 12-building, multi-housing complex with 230 residential units positioned on about 18 acres. The property contains two-, three- and four-bedroom apartments with an average of 1,000 square feet. All units offer washer/dryer connections and covered, outdoor patios or balconies. The complex features a recently renovated resident clubhouse, pool, new fitness center and ample parking. Much of the property recently underwent significant renovations, bringing updated amenities and finishes. Old Three Hundred is utilizing its in-house vertical of affiliate companies to operate and manage the property. Located on William Cannon Drive, a major east-west thoroughfare in South Austin, the property offers convenient access to the city’s best dining, shopping and cultural institutions. It is in close proximity to I-35, Loop 1, downtown Austin, McKinney Falls State Park and Austin Bergstrom International Airport. The JLL Capital Markets team representing the borrower was led by senior directors Marko Kazanjian and Chris McColpin, managing director Rob Hinckley, associate Jackson Finch and analyst Andrew Cohen. Old Three Hundred Capital Partners William Gottfried, Paolo Boero and Nicholas Yarnall represented the company in-house. The ArrowMark team is led by Rob Brown and Nathan Rillstone. “Cannon Oaks Apartments, with newly refreshed amenities, unbeatable greenbelt views and a highly convenient location made for an extremely attractive investment,” said Gottfried. “As the city and region continue to grow, the property is positioned to perform well, and provides a naturally affordable alternative to like-kind assets in the submarket. Marko, Chris and the JLL team worked extremely hard to help facilitate this transaction, and we are excited to work with Prime and ArrowMark on the first of what we believe will be many deals together.”

Leander Springs, a 78-acre, mixed-use project with retail, restaurants, entertainment, hospitality, office and residential components, is coming to town, Leander Mayor Troy Hill announced Oct. 15. Located at the southwest corner of FM 2243 and 183A, expectations are that a fully developed Leander Springs could be valued at $1 billion, according to the city. As part of an economic development agreement with Leander Springs LLC, the city approved up to $22 million in performance-based tax incentives for the project, which promises to construct a 4-acre crystalline lagoon powered by Crystal Lagoons technology and surrounded by 10 acres of boardwalk and related amenities. The lagoon will be filled only once and operate in a closed circuit to ensure sustainable use of water. The public-access lagoon will serve as the centerpiece for more than 1 million square feet of commercial development, including a full-service hotel and conference center planned for the property. “This dynamic mixed-use development is a game changer for our community,” Hill said in a release. “Leander Springs has a phased approach that will bring in much needed commercial development at the beginning of the project while incorporating residential uses in a proportional manner.” Click to read more at www.communityimpact.com.