Friday, November 30, 2007

PARKWAY APARTMENTS SOLD

COLLEGE STATION (Apartment Realty Advisors) – California-based FSC Realty LLC has sold the 166-unit Parkway Apartments, which are roughly one mile from the Texas A&M University campus.
Built in 1972 at 1600 Southwest Pkwy., the complex has a mix of one-, two- and three-bedroom apartments averaging 946 square feet.
Apartment Realty Advisors represented the seller. The buyer was self-represented

CWS BUYS VILLAGES

SAN ANTONIO (globest.com) – CWS Capital Partners LLC of California has purchased the 300-unit Villages of Deerfield apartments at 14555 Blanco Rd.
The 89 percent occupied, 11-year-old apartment complex consists of 25 residential buildings and three administrative buildings on more than 13 acres. The one- and two-bedroom apartments measure from 611 to 1,181 square feet. Monthly rents are between $689 and $1,119.
Apartment Realty Advisors represented the seller, MBS Cos. of Louisiana. CWS was self-represented and will manage the complex.

<The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station>

MEDITERRANEAN MIXED-USE UNDERWAY

SAN ANTONIO (Express-News) – Construction will begin next week for The éilan on 120 acres next to La Cantera and across from The Rim shopping center.
Wereldhave USA expects to spend roughly $300 million developing the speculative Mediterranean style mixed-use project of apartments, offices and retail on the northwest corner of 1604 and I-10, just north of Six Flags Fiesta Texas.
The éilan will consist of about 1,400 upscale apartments, two Class-A office buildings totaling 200,000 square feet, a 150- to 200-room hotel and spa, 30,000 square feet of boutique retail, underground parking, a nondenominational chapel, an amphitheater and a specialty grocery store.Wereldhave will build most of the buildings within LEED sustainability specifications. An electric trolley will run through the property.
The éilan’s first building is slated to open in spring 2009.