Austin investor buys Energy Corridor apartment mid-rise
Victory Wine Group ,a wholesale wine distributor with locations in Houston, Dallas and Austin, leased a 23,000-squarefoot office/warehouse in the Northwest Place Industrial Park at West Little York and Bingle in northwest Houston. Joseph Smith and Carlton Anderson of CRBE represented the landlord, Levey Group. David Lester of Lester & Lester Realty Advisors represented the tenant.
Austin-based F&B Capital purchased Alexan Enclave, a 354-unit apartment complex at 13411 Briar Forest Drive in the Energy Corridor. Todd Marix, Chris Curry and Bailey Crowell of JLL represented the sellers, Trammell Crow Residential and Cigna Investment Management. Completed in 2014, the property consists of two four-story buildings and a six-story parking garage. Amenities include a resortstyle pool, separate lap pool, outdoor kitchen, fire pit, dog park, pet wash station, clubhouse, demonstration kitchen, business center, executive conference room and electric car charging station. JLL also arranged acquisition financing. Founded by Hank Farrell III and Jason Berkowitz in 2010, F&B Capital has investments in Austin, Houston and San Antonio.
ClearWorth Capital, a Texas multifamily investment firm led by by Matthew P. Stone, purchased Steeplecrest Apartments, a 260-unit property at 11220 West Road in northwest Houston. Built in the 1990s, the complex consists of 13 two- and threestory buildings with a mix of one- and two-bedroom units averaging 845 square feet. Chris Curry, Todd Marix and Estee Ibáñez of JLL marketed the property on behalf of a joint venture between WillMax Multi-family Investors and Thackeray Partners and procured the buyer. Steeplecrest will be the 13th renovation undertaken by ClearWorth. Upgrades are planned for the clubhouse, unit interiors, building exterior and landscaping. Houston-based GPI Investment
purchased the former Staybridge Suites Houston WestWestchase at 9901 United Drive and re-positioned it as ReLux Luxury Senior Living. Eric Guerrero, Drew Noecker, Ben Levin and James Rebullida of HVS Brokerage & Advisory negotiated the transaction. The seller of the 118-room hotel was Damodar.
BSR Real Estate Investment
Trust acquired the 300-unit Satori at Long Meadow Apartments on 20.7 acres at 5830 Meadow Ranch Pkwy. in Richmond. The garden-style community was completed by Davis Development in 2019. BSR, which has offices in Toronto and Little Rock, Ark., now owns eight properties totaling 1,962 units in the Houston market.
Durango Investment Holdings leased 10,665 square feet of office space at 10077 Grogans Mill Road, The Woodlands. The J. Beard Real Estate Co. represented the landlord, Parkwood Holdings. Michael Lisch and Joshua Brown of Newmark Knight Frank represented the tenant. Texas Health School leased 10,125 square feet at 11511 Katy Freeway. Kurt Kistler of Moody Rambin represented the landlord. Ryan Hartsell with Oxford Partners represented the tenant.
Noslar T.I. leased 4,000 square feet at 5400-5401 Mitchelldale St. for five years. Justin Harrity represented landlord Hartman Income REIT in-house.
Baker & O'Brien renewed and expanded its lease for 9,589 square feet at 1333 West Loop South. Craig Beyer and Wyatt McCulloch with CBRE represented the tenant. Jason Presley and Warren Savery with CBRE represented the landlord, Park Towers Investment LLC. Spire Engineering Services leased 5,283 square feet at Ashford 5, at 14701 St. Mary’s Lane. Bob Cromwell and Kevin Nolan of Moody Rambin represented the landlord. Hugh Herman of Cushman & Wakefield represented the tenant.
Embrey Management Services has been selected to manage the Everly Apartments, a 387-unit complex at 2827 Dunvale. The Praedium Group recently acquired the property from San Antonio-based Embrey Partners. Ryan Epstein, Jennifer Ray and Scott Bray of Berkadia represented the seller.
Aly Energy Services leased 2,194 square feet of office space at 19450 Texas 249. Brenda Pennington represented the landlord. William McCarthy with Finial Group represented the tenant.