Houston
BRT Sells Houston Portfolio for $33M
The REIT had owned the 240-unit Stonecrossing and the 144-unit Stonecrossing East since 2013 and repositioned them through a value-add improvement program.
Historic Downtown Houston Building Changes Hands
Randall Davis Co. converted the 79-unit Hogg Palace Lofts into a residential property in 1995. The building once served as a showroom and office for automobile retailer Armor Auto Co.
Wood Partners Breaks Ground on 304-Unit Houston Project
The developer expects to wrap up work on Alta West Alabama in the third quarter of 2020. This community adds to the company’s existing portfolio of 16 properties managed in Texas.
Berkshire Residential Buys Houston Community
The sale of the 276-unit Vargos on the Lake marks the first time the property changed hands since it came online in 2015.
Turner Impact Capital Buys 659-Unit Houston Property
The buyer funded the acquisition of the 53-building Urban Palms with a $38 million Fannie Mae loan. Walker & Dunlop originated the financing.
Houston Community Receives $40M Fannie Mae Loan
Greystone provided the green financing for a 342-unit community owned by Alara Ventures. The loan will enable continued improvements to the property located just south of the medical district.
Greystar Buys 668-Unit Houston Community
Avana Eldridge, formally known as AMLI on Eldridge Parkway, changed hands after 15 years. The sale was financed through a $65 million Fannie Mae loan.
Oden Hughes Breaks Ground on Houston Project
The developer began construction of a 380-unit luxury community in the Clear Lake suburb. With MXCAP as a major investor, the project is slated for completion in mid-2020.
Hunt Arranges Refi for 940-Unit Houston Affordable Property
The $28.3 million Freddie Mac financing will be used to upgrade interiors of vacant units and add a leasing office and fitness center to The Heights at Post Oak.
Houston Multifamily Report – Spring 2019
Years of robust development are raising concerns about overbuilding, with occupancy in stabilized properties down 140 basis points year-over-year as of February.