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
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
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>
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.
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.
Tuesday, October 9, 2007
EQUITY'S FOUR-SALE
DALLAS (globest.com) – McDowell Properties has purchased 1,194 apartments; Class-A and -B units within the Metroplex from Chicago-based Equity Residential Properties Trust.
Madison on the Parkway has 376 apartments on 15 acres at 19002 Dallas Pkwy. Its one-, two- and three-bedroom apartments, some with attached garages, average 904 square feet. Rents range from $655 to $1,175.
Wimberly Apartment Homes have 372 units on almost 17 acres at 4141 Horizon N. Pkwy. The mix of one-, two- and three-bedroom apartments, also with some garages attached, average 921 square feet. Monthly rents range from $625 to $1,427.
Villas of Josey Ranch consists of 198 units on more than 12 acres at 2050 Keller Springs Rd. in Carrollton. One-bedroom apartments average 849 square feet with rents ranging from $695 to $820 per month.
Wimbledon Oaks Apartments is a 248-unit complex on just over nine acres at 1802 Wimbledon Oaks Lane in south Arlington. It has one- and two-bedroom apartments with monthly rents ranging from $575 to $880. Units average 766 square feet.
The four complexes, financed separately with fixed rates on seven-year Freddie Mac loans from Wachovia Securities LLC, had occupancies of about 95 percent at sale time.
CB Richard Ellis in Dallas marketed the Madison and Wimberly Apartment homes. which will be managed by Dallas-based Milestone Management LP.
Apartment Realty Advisors marketed the Wimbledon Oaks and Villas of Josey Ranch Complexes, to be managed by the Dallas office of Bernard/Allison Management Services Inc..
Madison on the Parkway has 376 apartments on 15 acres at 19002 Dallas Pkwy. Its one-, two- and three-bedroom apartments, some with attached garages, average 904 square feet. Rents range from $655 to $1,175.
Wimberly Apartment Homes have 372 units on almost 17 acres at 4141 Horizon N. Pkwy. The mix of one-, two- and three-bedroom apartments, also with some garages attached, average 921 square feet. Monthly rents range from $625 to $1,427.
Villas of Josey Ranch consists of 198 units on more than 12 acres at 2050 Keller Springs Rd. in Carrollton. One-bedroom apartments average 849 square feet with rents ranging from $695 to $820 per month.
Wimbledon Oaks Apartments is a 248-unit complex on just over nine acres at 1802 Wimbledon Oaks Lane in south Arlington. It has one- and two-bedroom apartments with monthly rents ranging from $575 to $880. Units average 766 square feet.
The four complexes, financed separately with fixed rates on seven-year Freddie Mac loans from Wachovia Securities LLC, had occupancies of about 95 percent at sale time.
CB Richard Ellis in Dallas marketed the Madison and Wimberly Apartment homes. which will be managed by Dallas-based Milestone Management LP.
Apartment Realty Advisors marketed the Wimbledon Oaks and Villas of Josey Ranch Complexes, to be managed by the Dallas office of Bernard/Allison Management Services Inc..
DORADO RANCH TO HELP MEET HOUSING DEMAND
(Odessa American) – City officials have issued a building permit to KLP Dorado Ranch LP for the construction of a 224-unit apartment complex at Faudree Road and San Machell, just inside Midland County.
City Manager Richard Morton said Dorado Ranch will be built in a high-growth area of northeast Odessa, where many residential and business structures are now under construction.
“The apartments are very, very much needed,” he said. “We can’t get them done soon enough.”
According to Marwan Khoury, the city's planning director, apartment occupancy has been holding steady at around 99 percent.
City Manager Richard Morton said Dorado Ranch will be built in a high-growth area of northeast Odessa, where many residential and business structures are now under construction.
“The apartments are very, very much needed,” he said. “We can’t get them done soon enough.”
According to Marwan Khoury, the city's planning director, apartment occupancy has been holding steady at around 99 percent.
Tuesday, October 2, 2007
THE PEEK OF LUXURY
AUSTIN (Austin Business Journal) – Peek-Howe Real Estate Inc. of Louisiana is developing a 256-unit luxury apartment project at 305 East Yager Ln.
White Rock at Canyon Ridge will feature an indoor sports court, workout facility, wireless business center, resort pool and garages for all apartments.
Peek-Howe subsidiary PHL Construction is handling construction. Humphreys & Partners Architects LP of Dallas designed the project.
The apartment community is close to Dell Inc.'s headquarters. Completion is slated for fall of next year.
White Rock at Canyon Ridge will feature an indoor sports court, workout facility, wireless business center, resort pool and garages for all apartments.
Peek-Howe subsidiary PHL Construction is handling construction. Humphreys & Partners Architects LP of Dallas designed the project.
The apartment community is close to Dell Inc.'s headquarters. Completion is slated for fall of next year.
AUGUST APARTMENT DATA RELEASED
CARROLLTON (ALNsystems.com) – ALN has released apartment market data for large Texas metro areas. For the year ending August 2007:
Occupancy in Austin apartment increased from 92.7 percent in August 2006 to 93.2 percent in August 2007. Average monthly rent increased from $771 to $819, a 6.2 percent increase.
Occupancy in Dallas apartments dropped by 0.2 percent to 90.9 percent. Average monthly rent increased 6 percent, going from $746 to $791.
Occupancy in Fort Worth apartments held steady at 89.3 percent. Average monthly rent increased from $659 to $698, a 5.9 percent jump.
Occupancy in Houston apartments decreased from 90.7 percent to 90.1 percent. Rent increased by 1.1 percent, going from $723 to $731.
Occupancy in San Antonio apartments increased 0.4 percent to 91.6 percent. Rent increased 3.6 percent, going from $674 to $698.
Occupancy in Austin apartment increased from 92.7 percent in August 2006 to 93.2 percent in August 2007. Average monthly rent increased from $771 to $819, a 6.2 percent increase.
Occupancy in Dallas apartments dropped by 0.2 percent to 90.9 percent. Average monthly rent increased 6 percent, going from $746 to $791.
Occupancy in Fort Worth apartments held steady at 89.3 percent. Average monthly rent increased from $659 to $698, a 5.9 percent jump.
Occupancy in Houston apartments decreased from 90.7 percent to 90.1 percent. Rent increased by 1.1 percent, going from $723 to $731.
Occupancy in San Antonio apartments increased 0.4 percent to 91.6 percent. Rent increased 3.6 percent, going from $674 to $698.
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