Houston Chronicle

Miami investor acquires upscale apartments on Westheimer

- By Katherine Feser katherine.feser@chron.com twitter.com/kfeser

Miami-based Galium Capital obtained a $70.7 million senior loan from PCCP for the acquisitio­n of Millennium High Street, a 340-unit complex with 26,304 square feet of ground floor retail at 4410 Westheimer near the River Oaks District. The property was built in 2013 by the seller, a partnershi­p of the Dinerstein Cos. and Coventry Real Estate Advisors. The property consists of four buildings on 6.3 acres with Seasons 52 and Fidelity Investment­s as retail tenants. The complex is 93 percent occupied.

TGS Cedar Port Partners

broke ground on a 1.2 millionsqu­are-foot cross dock warehouse at 6363 FM 1405 in Baytown’s TGS Cedar Port Industrial Park. Bank of Texas provided constructi­on financing. The spec building is designed with a 40foot clear height and can accommodat­e more than 1,000 trailer parking spaces and 1,500 car parking spaces. Powers Brown Architectu­re is the architect and E.E. Reed Constructi­on is the general contractor. John Simons, Gray Gilbert, Chris Haro with NAI Partners are handling leasing. Completion is planned in the second quarter.

OHT Partners, an Austin multifamil­y developmen­t, constructi­on and investment firm, broke ground on the 315-unit Lenox Bayside apartments in the Clear Lake area. The community will be built on nine acres at the southwest corner of Gatebrook Drive and Retail Road, adjacent to a new H-E-B-anchored retail developmen­t of Regency Centers Corp. and CDC Houston. Davies Collaborat­ive is the architect and Peel Paulson Design Studio is handling interior design. Opening is planned in early 2023.

July Residentia­l, New Yorkbased investment firm co-founded by Avihai Daniell and Isaac Pinto, acquired a portfolio of five apartment complexes totaling 1,275 units in Houston. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia Boca Raton arranged acquisitio­n financing from lender Voya Investment Management. The properties, built between 1976 and 1983, were purchased from Tzadik Management. They include Airport Crossing, a 178-unit property at 8300 W. Airport; The Townhomes, a 73-unit property at 8030 W. Airport; Terrace at West Sam Houston, a 428-unit complex at 9475 W. Sam Houston Parkway; Casa Grande, a 268-unit complex at 9445 Concourse; and Plaza at Hobby Airport, a 328-unit complex at 8501 Broadway.

Kajani Capital Group purchased a 13.25-acre tract on T.C. Jester, one block north of FM 1960, for the developmen­t of a 336-unit garden-style apartment community. Kristen McDade and Matthew Davis of Cushman & Wakefield brokered the sale. The site is next to the School of Science and Technology charter school.

Rangel Renewables leased 2,094 square feet at 2040 N. Loop West. Justin Harrity represente­d the landlord, Hartman Income REIT.

PG Golf, a supplier of recycled and refinished golf balls, signed a 87,214-square-foot lease at Sugar Land Crossroads, at 12520 W. Airport Blvd. in Sugar Land. Darryl Noon and Nick Peterson of Transweste­rn represente­d the landlord. Jarret Venghaus and Jordan Raney of JLL represente­d the tenant.

1701 Webster Ltd. purchased the 8,936-square-foot Mid-Town Surgery Center at 2105 Jackson Street. Beth Young of Colliers represente­d the seller, Jackson Street Realty.

Dana Safety Supply signed a 30,000-square-foot lease at 7800 Breen. John Ferruzzo and Nick Peterson of Transweste­rn represente­d the landlord.

Capital C Investment­s

purchased a 7,500-square-foot industrial property at 9702 Galveston Road. Jon Silberman and Pierce Beyer of NAI Partners represente­d the seller, Intero Integrity.

Carlton Strategic Staffing

renewed a lease for 2,356 square feet of office space at 12621 Featherwoo­d. Courtney Buckout of Madison Marquette represente­d the landlord, 12621 Featherwoo­d LLC. Greg Usher of Cypressbro­ok Co. represente­d the tenant.

Biomedical Solutions

renewed its 3,333-square-foot lease at Greenbriar Business Center at 3727 Greenbriar Drive in Stafford. Carter Thurmond of Transweste­rn represente­d the landlord.

Armour 6021-5 LLC acquired a 17,007-square-foot warehouse at 6021 Armour Drive from CC West Investment­s. David Luther and Rick Ragan of NewQuest Properties represente­d the seller.

Armour 6021-5 LLC acquired a 26,250-square-foot warehouse at 6025 Armour Drive from Joanna Hunt. David Luther and Rick Ragan of NewQuest Properties represente­d the seller.

 ?? PCCP ?? Galium Capital now owns Millennium High Street, a 340-unit complex on Westheimer.
PCCP Galium Capital now owns Millennium High Street, a 340-unit complex on Westheimer.

Newspapers in English

Newspapers from United States