From: Globe Street
August 26, 2009
Bostonian Investment Group has taken possession of the Class B Windmill Terrace Apartments from seller Case & Associates Properties Inc. The buyer paid $8 million for the 284-unit complex, which is located midway between Dallas and Fort Worth.
The 1980s complex, at 2200 Murphy Dr., has occupancy in the high 80s and rents between $.65 and $.70 per sf.
Sunday, September 13, 2009
Austin 3Q 2009 Apartment Market Update
From: Texas A&M Real Estate Center // Marcus & Millichap
August 26. 2009
The addition of new supply will weigh on apartment fundamentals in the Austin metro through the remainder of 2009, despite a modest increase in demand, according to Marcus & Millichap Research Services.
As developers expand metrowide inventory by nearly 7 percent this year, owners are expected to significantly widen concessions to fill new projects. This trend will be most prevalent in the Class A segment, where new complexes will drive a 13 percent increase to stock and competition from alternative housing options is elevated.
MORE
August 26. 2009
The addition of new supply will weigh on apartment fundamentals in the Austin metro through the remainder of 2009, despite a modest increase in demand, according to Marcus & Millichap Research Services.
As developers expand metrowide inventory by nearly 7 percent this year, owners are expected to significantly widen concessions to fill new projects. This trend will be most prevalent in the Class A segment, where new complexes will drive a 13 percent increase to stock and competition from alternative housing options is elevated.
MORE
AMLI on 2nd in Austin Financed
From: Texas Real Estate Business
September 10, 2009
AUSTIN, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $32.2 million in financing for AMLI on 2nd, a multifamily tower located in Austin. Situated at 421 W. Third St., the Class A tower totals 19 stories; it contains 231 one- and two-bedroom units as well as approximately 41,000 square feet of ground-floor retail space. Amenities include a fitness center, a sky deck with a pool and barbecue grills, a business center, a resident lounge and garage parking. HFF's Scott Galloway and Matt Kafka arranged the loan on behalf of AMLI Residential Properties. Terms of the financing include an adjustable interest rate and a 7-year term. The lender was Freddie Mac.
September 10, 2009
AUSTIN, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $32.2 million in financing for AMLI on 2nd, a multifamily tower located in Austin. Situated at 421 W. Third St., the Class A tower totals 19 stories; it contains 231 one- and two-bedroom units as well as approximately 41,000 square feet of ground-floor retail space. Amenities include a fitness center, a sky deck with a pool and barbecue grills, a business center, a resident lounge and garage parking. HFF's Scott Galloway and Matt Kafka arranged the loan on behalf of AMLI Residential Properties. Terms of the financing include an adjustable interest rate and a 7-year term. The lender was Freddie Mac.
Texas A&M Student Housing
From: Texas Real Estate Business
August 24, 2009
COLLEGE STATION, TEXAS — Collegiate Development Construction Services I, LLC, will build Texas A&M University’s new 250-unit student housing project in College Station. TAMU University Apartments, which is being designed to meet LEED Homes Silver standards, will be located on approximately 6.5 acres at University Drive and College Avenue. The six-building community will span 239,795 square feet and will include 293 on-site parking spaces. Amenities at TAMU University Apartments will include a commons area with picnic tables and barbeque grills, bicycle racks and a separate common laundry building. Completion is scheduled for July 2010.
August 24, 2009
COLLEGE STATION, TEXAS — Collegiate Development Construction Services I, LLC, will build Texas A&M University’s new 250-unit student housing project in College Station. TAMU University Apartments, which is being designed to meet LEED Homes Silver standards, will be located on approximately 6.5 acres at University Drive and College Avenue. The six-building community will span 239,795 square feet and will include 293 on-site parking spaces. Amenities at TAMU University Apartments will include a commons area with picnic tables and barbeque grills, bicycle racks and a separate common laundry building. Completion is scheduled for July 2010.
Senior Retirement Community in Sugar Land
From: Texas Real Estate Business
August 24, 2009
Tradition Senior Living, LP, has plans to develop a full-service retirement community in Sugar Land called The Tradition-Sugar Land. The resort-style project, which will be the first Continuum Care Retirement Community (CCRC) in southwest Houston and eastern Fort Bend County, will feature accommodations for both independent and assisted-living residents.
Located off Highway 6 between U.S. Highway 59 and Texas Highway 90A, the gated community will be situated within Lake Pointe Town Center, a mixed-use development in First Colony. Planned Community Developers, Ltd., is the developer of First Colony, which is a 9,700-acre master-planned community in Sugar Land. Amenities at The Tradition-Sugar Land include a fitness facility with an indoor pool, limited-access garage parking, and a wireless emergency response system. Opening is planned for mid-2011.
August 24, 2009
Tradition Senior Living, LP, has plans to develop a full-service retirement community in Sugar Land called The Tradition-Sugar Land. The resort-style project, which will be the first Continuum Care Retirement Community (CCRC) in southwest Houston and eastern Fort Bend County, will feature accommodations for both independent and assisted-living residents.
Located off Highway 6 between U.S. Highway 59 and Texas Highway 90A, the gated community will be situated within Lake Pointe Town Center, a mixed-use development in First Colony. Planned Community Developers, Ltd., is the developer of First Colony, which is a 9,700-acre master-planned community in Sugar Land. Amenities at The Tradition-Sugar Land include a fitness facility with an indoor pool, limited-access garage parking, and a wireless emergency response system. Opening is planned for mid-2011.
San Antonio Market Report
From: Texas A&M Real Estate Center // O'Connor & Associates
August 19, 2009
San Antonio posted an increase in occupancy during July, making it the only metro area of the four major Texas markets to do so, according to O'Connor & Associates. This also marks the third straight month with increases in occupancy and absorption for the multifamily sector.
MORE
August 19, 2009
San Antonio posted an increase in occupancy during July, making it the only metro area of the four major Texas markets to do so, according to O'Connor & Associates. This also marks the third straight month with increases in occupancy and absorption for the multifamily sector.
MORE
Houston Multifamily Market Report
From: Texas A&M Real Estate Center // O'Connor & Associates
August 19, 2009
Houston area multifamily occupancy continued to decline during the month of July, a familiar trend given the high level of under-construction properties for the sector. However, strong absorption figures on both a monthly and annual basis continue to foretell of a return to stable metrics as the construction pipeline diminishes.
MORE
August 19, 2009
Houston area multifamily occupancy continued to decline during the month of July, a familiar trend given the high level of under-construction properties for the sector. However, strong absorption figures on both a monthly and annual basis continue to foretell of a return to stable metrics as the construction pipeline diminishes.
MORE
LaSalle Group Senior Facility in Denton
From: GlobeStreet.com
August 18, 2009
Ground has been broken for the 36-unit Autumn Leaves of Denton, marking developer LaSalle Group Inc.'s eighth assisted-living residence in North Texas. Autumn Leaves of Denton at 2505 Brinker Rd. is scheduled for a March 2010 opening.
The projects average approximately 26,000 sf and are single-story construction. Land requirements average approximately three to four acres. The average cost to build is $8 million.
Autumn Leaves of Fort Worth is also scheduled to open in early 2010. These two facilities will join those already in operation throughout North Texas in Arlington, Carrollton, Flower Mound, Fossil Creek, Grapevine, McKinney and Richardson/North Garland.
August 18, 2009
Ground has been broken for the 36-unit Autumn Leaves of Denton, marking developer LaSalle Group Inc.'s eighth assisted-living residence in North Texas. Autumn Leaves of Denton at 2505 Brinker Rd. is scheduled for a March 2010 opening.
The projects average approximately 26,000 sf and are single-story construction. Land requirements average approximately three to four acres. The average cost to build is $8 million.
Autumn Leaves of Fort Worth is also scheduled to open in early 2010. These two facilities will join those already in operation throughout North Texas in Arlington, Carrollton, Flower Mound, Fossil Creek, Grapevine, McKinney and Richardson/North Garland.
New senior community set for The Woodlands
From: Houston Chronicle
By: Katherine Feser // August 31, 2009
Bridgewood Property Co. has broken ground on its latest community at The Village at The Woodlands Waterway to cater to seniors with various needs.
The eight-story community will consist of 207 rental units at 2323 Lake Robbins Drive overlooking The Waterway and The Woodlands Town Center.
The 240,000-square-foot property will contain 63 assisted living units, 28 memory care units and 116 independent living units.
“The Woodlands is a very unique market where you have a large base of seniors and a large base of adult children,” said Jim Gray, president of Bridgewood Property.
The firm is developing the project in a joint venture with Harrison Real Estate Capital. Opening is planned in spring 2011.
MORE
By: Katherine Feser // August 31, 2009
Bridgewood Property Co. has broken ground on its latest community at The Village at The Woodlands Waterway to cater to seniors with various needs.
The eight-story community will consist of 207 rental units at 2323 Lake Robbins Drive overlooking The Waterway and The Woodlands Town Center.
The 240,000-square-foot property will contain 63 assisted living units, 28 memory care units and 116 independent living units.
“The Woodlands is a very unique market where you have a large base of seniors and a large base of adult children,” said Jim Gray, president of Bridgewood Property.
The firm is developing the project in a joint venture with Harrison Real Estate Capital. Opening is planned in spring 2011.
MORE
400-Unit Greenbriar Park North sold in Houston
From: Globe Street
Aldine Greenbriar Apartments LLC acquired a Class B complex from Bank of America. The 400-unit Greenbriar Park North was purchased from foreclosure. CNC Investments was the former owner of the 1980s complex at 818 Richcrest Dr.
Aldine Greenbriar Apartments LLC acquired a Class B complex from Bank of America. The 400-unit Greenbriar Park North was purchased from foreclosure. CNC Investments was the former owner of the 1980s complex at 818 Richcrest Dr.
New Lubbock Apartments
From: Lubbock Avalanche-Journal
By: Walt Nett // September 1, 2009
Lubbock's first family-oriented apartment complex in four years is finally getting off the drawing board and on the ground.
Crews will start moving dirt Wednesday for Windsor Creek Apartments, an $18 million, 208-unit complex to occupy about 11 acres on the east side of Chicago Avenue between 53rd and 54th streets.
The construction schedule calls for finishing the first of eight 26-apartment buildings and the complex clubhouse in June 2010, said Randy Egenbacher, president and principal of Egenbacher Development Services. The remaining seven buildings are supposed to be finished at the rate of one per month, he added.
"Based on our research, market demand has bounced back and this should be coming online just at the right time," Egenbacher said when asked about launching the project in a struggling economy. "We're betting $18 million on it."
The project's owner is CJ Development, a locally owned development company.
MORE
By: Walt Nett // September 1, 2009
Lubbock's first family-oriented apartment complex in four years is finally getting off the drawing board and on the ground.
Crews will start moving dirt Wednesday for Windsor Creek Apartments, an $18 million, 208-unit complex to occupy about 11 acres on the east side of Chicago Avenue between 53rd and 54th streets.
The construction schedule calls for finishing the first of eight 26-apartment buildings and the complex clubhouse in June 2010, said Randy Egenbacher, president and principal of Egenbacher Development Services. The remaining seven buildings are supposed to be finished at the rate of one per month, he added.
"Based on our research, market demand has bounced back and this should be coming online just at the right time," Egenbacher said when asked about launching the project in a struggling economy. "We're betting $18 million on it."
The project's owner is CJ Development, a locally owned development company.
MORE
DFW Apartment Transaction Volume Picking Up
From: Texas A&M Real Estate Center
September 4, 2009
Apartment transaction volume peaked in the DFW area in 2007, when 211 apartment complexes of 101 units or more changed hands, said Brian O'Boyle of Apartment Realty Advisors.
Transactions in that category fell by half, to 105, in 2008, and only 31 complexes of 101 units or more have sold so far this year, said O'Boyle.
O'Boyle projected the DFW area will have 45 apartment transactions this year, 55 deals in 2010 and 75 deals of 101 units or more in 2011.
"A lot of funds are raising equity now to take advantage of some of the opportunities that will be in the marketplace," he said.
September 4, 2009
Apartment transaction volume peaked in the DFW area in 2007, when 211 apartment complexes of 101 units or more changed hands, said Brian O'Boyle of Apartment Realty Advisors.
Transactions in that category fell by half, to 105, in 2008, and only 31 complexes of 101 units or more have sold so far this year, said O'Boyle.
O'Boyle projected the DFW area will have 45 apartment transactions this year, 55 deals in 2010 and 75 deals of 101 units or more in 2011.
"A lot of funds are raising equity now to take advantage of some of the opportunities that will be in the marketplace," he said.
Subscribe to:
Comments (Atom)