Ryan Companies tops out Rivette Tower multifamily community in Mueller

Posted on by Mia Goulart

Ryan Companies US, Inc., a national commercial real estate solutions provider, announced the topping out of Rivette Tower, a 345-unit multifamily community in Mueller. The project, which is adjacent to the former airport’s iconic control tower structure, includes two mid-rise, three- to five-story buildings with diverse exterior architectural elements, as well as approximately 2,500 square feet of ground floor retail space located near the corner of Berkman Drive and McCurdy Street.

This milestone marks the structural completion of the community’s two buildings. Construction will now be focused on finishing the remaining residences, and the amenity and landscape elements of the project. The 538,000-square-foot project will include a resort-style pool, private courtyards, thoughtfully designed gathering and co-working amenity spaces, ample outdoor private and gathering areas, a central paseo, expansive pet amenities, bike maintenance and storage facilities, and a rooftop deck overlooking the control tower and city skyline.

Rivette Tower is expected to be completed by Q3 2024, with initial residences being available for move in by Spring 2024. The community will feature one-, two- and three-bedroom apartments and 15% of the 345 residences are reserved for Mueller’s Affordable Homes Program, available to households earning up to 60% of the Austin area’s median family income.

Ryan is the developer and builder, and Ryan A+E Inc., the design studio of Ryan, is the architect of record. Ryan has partnered with Lake|Flato, GarzaEMC, Integrity Structural, Aptus Engineering, Land Design and Ink+Oro as additional design consultants. Rivette Tower will have a variety of green building elements in pursuit of the U.S. Green Building Council LEED certification and an Austin Energy Green Building (AEGB) rating.

Houston-MSA neighborhood retail center trades to DML Capital

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of The Shoppes at Kingsgate, a 156,343-square-foot, grocery-anchored neighborhood retail center located in the Kingwood master-planned community within the Houston MSA.

JLL represented the buyer, DML Capital. Chestnut Ridge Associates, LLC was the seller.

Built in 1980 and renovated from 2015 to 2017, the 95.2% occupied The Shoppes at Kingsgate is anchored by ALDI, a market leader in the grocery sector and one of America’s fastest-growing retailers. Additional tenants include Painted Tree Boutiques, Five Below and Dollar Tree. The property features a WALT of 6.6 years. Situated in the Kingwood submarket, the asset is on one of the most highly trafficked streets in the area, with 41,000 vehicles per day along Kingwood Drive. The property is at below-market vacancy, with the Kingwood submarket at an average vacancy rate of 9%.

Located 27 miles north of Downtown Houston, Kingwood is a highly sought-after, master-planned development in the Houston MSA. Spanning 14,000 acres of lush woodlands, this well-established community features over 500 acres of private parks and nature preserves, as well as 75 miles of scenic greenbelt. Renowned for its picturesque forests and excellent quality of life, the area offers top-notch schools and a wide range of outdoor and water-based recreational activities near the expansive 11,854-acre Lake Houston. With a diverse residential population of approximately 65,000, Kingwood has emerged as a vibrant commercial hub with an abundance of retail and dining opportunities.

The JLL Capital Markets Investment Advisory team was led by Senior Director John Indelli and Senior Managing Director Ryan West. Additionally, a JLL Debt Advisory team, led by Managing Director Michael Johnson and Director Michael King, sourced the financing for the buyer. JLL was able to rate lock at competitive market terms via life company financing.

Strive hires Stephen Crittenden to lead multifamily group

Posted on by Jordan Jensen

 DALLAS, TX – STRIVE, a commercial real estate investment sales firm based in Dallas, Texas, and its Managing Partners Jennifer Pierson and Jason Vitorino are pleased to announce that Stephen Crittenden, a seasoned multifamily professional, has joined STRIVE to lead its multifamily group. 

Stephen has 13 years of experience and has sold several thousand multifamily units in the Dallas Fort Worth Metropolitan area, and STRIVE is excited to welcome him to the team. 

“Stephen brings a depth of knowledge that will accelerate the success of our multifamily team. At STRIVE, we have a history of going against the grain, and while others are laying professionals off, we feel it is strategically prudent to grow our team so that we are poised to take advantage of the inevitable rebound of the market,” Pierson said. 

STRIVE is firmly immersed in the office, industrial, retail, and multifamily verticals with offices in both Houston and Dallas. 

“I have a history of working with Stephen at a prior company and respect his work ethic and depth of knowledge. But more important, Stephen is a good person with a strong moral compass, and we continue to build STRIVE on the foundation of good, solid people who do things the right way,” Vitorino said. 

Travis Power Promoted to Partner at Specht Novak

Posted on by Jordan Jensen

Travis Power, AIA, joins partners Scott Specht and Jakeb Novak as part of the firm’s growing leadership team. Travis’ role will be expanded to include business operation responsibilities while continuing to maintain Specht Novak’s (formerly Specht Architects) reputation of award-winning, modern architecture and strong client and industry relationships.

Eliza Escamilla Hired at Pagewood

Posted on by Jordan Jensen

Eliza joined Pagewood in 2023 as Assistant Property Manager and possesses a deep understanding of managing commercial properties effectively. With over eight years of experience, Eliza has comprehensive knowledge of property maintenance, lease agreements, tenant relations, financial reporting, and risk management. She previously worked for Oakleaf Management and Oliver-CRE managing a small team and a portfolio of high-rise, mid-rise, and privately owned office condos.

Patrick Dennis Hired at Hammes Healthcare

Posted on by Jordan Jensen

Patrick Dennis has joined Hammes Healthcare, a leading provider of healthcare real estate consulting and project management services, as regional vice president for the Southwest. Patrick brings nearly 30 years of experience planning and delivering complex projects. He excels in programming and preconstruction, having spent the entirety of his career in the construction industry, including 10 years with JE Dunn.