Miami investor acquires upscale apartments on Westheimer
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.