Dallas Morning News
Steve Brown // January 4, 2010
Apartment vacancies in Dallas-Fort Worth have grown to the highest level in more than 20 years because of a combination of overbuilding and the recession.
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Sunday, January 10, 2010
USAA Real Estate buys Broadstone Parkway complex
Dallas Morning News
Steve Brown // December 28, 2009
San Antonio-based insurance investor USAA Real Estate Co. has purchased a Dallas-area urban development. The year-old Broadstone Parkway complex just west of the Dallas Galleria includes 333 luxury apartments and almost 40,000 square feet of ground floor retail space.
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Steve Brown // December 28, 2009
San Antonio-based insurance investor USAA Real Estate Co. has purchased a Dallas-area urban development. The year-old Broadstone Parkway complex just west of the Dallas Galleria includes 333 luxury apartments and almost 40,000 square feet of ground floor retail space.
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MF Analysis: More Transactions in 2010
GlobeSt.com
Amy Wolff Sorter // December 27, 2009
DALLAS-Local experts tell GlobeSt.com pent-up demand, combined with a smaller buyer-seller delta, will mean more assets trading next year.
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Amy Wolff Sorter // December 27, 2009
DALLAS-Local experts tell GlobeSt.com pent-up demand, combined with a smaller buyer-seller delta, will mean more assets trading next year.
MORE
Monday, December 28, 2009
MF Analysis: More Transactions in 2010
GlobeSt.com
Amy Wolff Sorter // December 27, 2009
DALLAS-A shrinking buyer-seller gap, combined with investors tired of waiting on the sidelines could mean more trades of quality multifamily in 2010. Experts tell GlobeSt.com that both buyers and sellers throughout the Dallas-Fort Worth area are aware that the market is close to bottom, or there already.
Will Balthrope, vice president investments and senior director with the Dallas office of Marcus & Millichap Real Estate Investment Services' multifamily group says he noticed a seismic shift in investor interest since October. He pointed out that demand was huge when he and partner Ryan Epstein recently marketed the 258-unit Delante in Irving, TX. The high-end, mid-rise product attracted 44 offers, with Slosburg Cos. of Omaha, NE ending up the buyer. "This is a good example of a mid-rise luxury apartment, snapped up by an investor, without a loan, which closed in 26 days," Balthrope comments.
Balthrope and Jay Gunn, associate partner with Hendricks & Partners Dallas office, agree that buyers had been sitting on the sidelines, fearful of entering the market when values were on the way down. But with the values reasonable these days, "we're seeing a tremendous amount of capital looking for investments," Gunn points out. "There's a bunch of money out there and ready to make a move. But we still don't have the product to provide."
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Amy Wolff Sorter // December 27, 2009
DALLAS-A shrinking buyer-seller gap, combined with investors tired of waiting on the sidelines could mean more trades of quality multifamily in 2010. Experts tell GlobeSt.com that both buyers and sellers throughout the Dallas-Fort Worth area are aware that the market is close to bottom, or there already.
Will Balthrope, vice president investments and senior director with the Dallas office of Marcus & Millichap Real Estate Investment Services' multifamily group says he noticed a seismic shift in investor interest since October. He pointed out that demand was huge when he and partner Ryan Epstein recently marketed the 258-unit Delante in Irving, TX. The high-end, mid-rise product attracted 44 offers, with Slosburg Cos. of Omaha, NE ending up the buyer. "This is a good example of a mid-rise luxury apartment, snapped up by an investor, without a loan, which closed in 26 days," Balthrope comments.
Balthrope and Jay Gunn, associate partner with Hendricks & Partners Dallas office, agree that buyers had been sitting on the sidelines, fearful of entering the market when values were on the way down. But with the values reasonable these days, "we're seeing a tremendous amount of capital looking for investments," Gunn points out. "There's a bunch of money out there and ready to make a move. But we still don't have the product to provide."
MORE
Sunday, December 27, 2009
Encore Multi-Family To Develop $18 Million Apartment Complex In Burleson's Transit-Oriented Development District
TheStreet.com
PR Newswire // December 1, 2009
Encore Multi-Family has announced the development of the Encore at Alsbury, a new 200-unit, 12.25-acre apartment development in Burleson, Texas, a fast-growing gateway to Fort Worth. Scheduled to break ground in January 2010, the 205,436-square-foot Encore at Alsbury is scheduled for completion in the first quarter of 2011. Encore Multi-Family is a subsidiary of Encore Enterprises, a leading full-service real estate acquisition, development and management company focused on the retail, hospitality and multi-family sectors.
The three-story Encore at Alsbury will provide residents easy access to I-35W and the employment center in and around Fort Worth. A strategic addition to Burleson's Transit-oriented Development (TOD) District designed to encourage mixed-use development, the new complex will serve the city's planned rail station along a commuter line connecting downtown Fort Worth to its neighboring cities to the south. Among the fastest-growing cities in the Dallas-Fort Worth metropolitan area, Burleson's population has grown 65 percent since 2000 according to the Burleson Area Chamber of Commerce, a growth rate nearly twice the national average.
"Our announcement of the Encore at Alsbury is one of many multi-family projects we plan to announce over the next few years," said Dr. Bharat Sangani, chairman and co-founder of Encore Enterprises. "The multi-family market segment represents a compelling growthopportunity for our company and our Burlesondevelopment is representative of other projects we are developing around the country. With its fast-growing population, easy access to Fort Worth and the planned rail line, the Burleson TOD is a natural fit for our newest property."
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PR Newswire // December 1, 2009
Encore Multi-Family has announced the development of the Encore at Alsbury, a new 200-unit, 12.25-acre apartment development in Burleson, Texas, a fast-growing gateway to Fort Worth. Scheduled to break ground in January 2010, the 205,436-square-foot Encore at Alsbury is scheduled for completion in the first quarter of 2011. Encore Multi-Family is a subsidiary of Encore Enterprises, a leading full-service real estate acquisition, development and management company focused on the retail, hospitality and multi-family sectors.
The three-story Encore at Alsbury will provide residents easy access to I-35W and the employment center in and around Fort Worth. A strategic addition to Burleson's Transit-oriented Development (TOD) District designed to encourage mixed-use development, the new complex will serve the city's planned rail station along a commuter line connecting downtown Fort Worth to its neighboring cities to the south. Among the fastest-growing cities in the Dallas-Fort Worth metropolitan area, Burleson's population has grown 65 percent since 2000 according to the Burleson Area Chamber of Commerce, a growth rate nearly twice the national average.
"Our announcement of the Encore at Alsbury is one of many multi-family projects we plan to announce over the next few years," said Dr. Bharat Sangani, chairman and co-founder of Encore Enterprises. "The multi-family market segment represents a compelling growthopportunity for our company and our Burlesondevelopment is representative of other projects we are developing around the country. With its fast-growing population, easy access to Fort Worth and the planned rail line, the Burleson TOD is a natural fit for our newest property."
MORE
Coming Attractions
Apartment Finance Today
Jerry Ascierto // November-December 2009
Transit-oriented development and workforce and student housing are poised to capture a tidal wave of Echo Boomers.
Jerry Ascierto // November-December 2009
Transit-oriented development and workforce and student housing are poised to capture a tidal wave of Echo Boomers.
The conventional wisdom in the multifamily industry is that rents and occupancies are declining, and that nothing is getting built these days. And that’s true, as owners struggle through lean times and financiers continue to hunker down and wait out the recession.
But three unconventional sectors—student housing, transitoriented development (TOD), and workforce housing—are poised to become viable alternatives to standard market-rate developments.
While these sectors have also been affected by the recession, demographic trends suggest that all three will play an increasingly larger role in the industry over the next decade. And all three sectors hinge on the choices of coming generations.
Student housing has shown a resiliency throughout the recession due to higher enrollment trends. And a younger workforce is increasingly migrating toward cities, where TODs are pointing the way to a new urban future, providing a natural fit for the growing workforce housing sector. Despite their promise, however, none of these sectors are without their challenges—from both a logistical and financial standpoint.
Cambridge Development opens new San Antonio apartments
San Antonio Business Journal
November 30, 2009
November 30, 2009
Northwest San Antonio is set to gain its newest upscale apartment community.
Cambridge Development Group in Houston has completed construction on The Preserve on Fredericksburg. The complex’ clubhouse opened Monday. The first apartment building should be ready for occupancy on Dec. 15. The complex is located at 10422 Huebner Road, near the intersection of Fredericksburg Road and Huebner.
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