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265-unit Riverwalk hotel trades hands265-unit Riverwalk hotel trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252392020-11-25T06:00:00Z2020-11-25T16:00:00Z

​SAN ANTONIO – Wheelock Street Capital has purchased Hotel Contessa, a 26​5-unit all-suite hotel at 306 W. Market St. 

Built in 2005, the 12-story building has a rooftop pool, restaurant and bar, spa, and 10,000 sf of event space. 

Texas logoGet more San Antonio-area hotel news​ on the Real Estate Center's website.


San Antonio Business Journal
San Antonio-New Braunfels
Hotel
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1M-sf former Titan tire plant rolls to new owner 1M-sf former Titan tire plant rolls to new owner https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252402020-11-25T06:00:00Z2020-11-25T16:00:00Z

​​BROWNSVILLE – Phoenix Investors has acquired the 1.04 million-sf former Titan International Inc. tire plant at 6700 Paredes Line Rd.  

Built in 1997, the 108-acre pro​perty was converted into a multitenant asset in 2003. 

Newmark represented Titan in the sale. 

Texas logoThe Real Estate Center has more RGV news you may find interesting:

​​Source: REBusiness Online

REBUSINESS
Brownsville-Harlingen
Industrial
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Jenkins breaks ground on Bryan RV resort Jenkins breaks ground on Bryan RV resort https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252412020-11-25T06:00:00Z2020-11-25T16:00:00Z

​​BRYAN – The Jenkins Organization has broken ground on an RV resort near Texas A&M University. 

The park will include 304 RV sites a​nd 64 cabins. 

Amenities will include a sports court, camp store, two clubhouses, pools, covered pavilions, walking trails, two dog parks, and two workout facilities. 

Construction will be complete in summer 2021. 

Texas logoIf you're looking for more news like this, head to the Center's website.

REBUSINESS
College Station-Bryan
Retail
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804-unit workforce housing complex sold in South Dallas804-unit workforce housing complex sold in South Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252352020-11-25T06:00:00Z2020-11-25T15:00:00Z

​DALLAS – Nitya Capital has purchased The Muse, an 804-unit workforce housing community at 3035 W. Pentagon Pkwy. 

The Muse offers 30 different floor plans with an average size of 926 sf. 

Amenities include a fitness center, busines​s center, and onsite laundry facilities. 

NorthMarq represented the seller, S2 Capital LLC. 

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

Source: REBusiness Online

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
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JV developing Texas Wesleyan student housingJV developing Texas Wesleyan student housinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252362020-11-25T06:00:00Z2020-11-25T15:00:00Z

​​FORT WORTH – Panteras Development Partners and Miyama USA Texas have entered a long-term ground lease with Texas Wesleyan University to de​velop a student housing community. 

Called the Rosedale, the three-story single-building community at 3228 E. Rosedale St. contains 101 beds across 56 units.

Amenities will include 101 gated parking spaces, student lounges with large-screen televisions, and dedicated study areas.

Miyama is overseeing funding and management of the community. The architect is 97w.

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

Source: Fort Worth Business Press

Fort Worth Business Press
Dallas-Fort Worth-Arlington
Multifamily
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Surface parking transforming in Parmer business parkSurface parking transforming in Parmer business parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252372020-11-25T06:00:00Z2020-11-25T15:00:00Z

​​AUSTIN – The Austin Zoning and Platting Commission has approved​ a plan to expand the 138-acre 7700 Parmer business park.

A surface parking lot will be transformed into a 340-room hotel, 80,000 sf of retail and restaurant space, and 1,800 multifamily units.

Texas logoGet more Austin-area news on the Real Estate Center's website:

​​​Source: ​Austin Business Journal

Austin Business Journal
Austin-Round Rock
Mixed-Use
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Place Development working on 26-building multifamily communityPlace Development working on 26-building multifamily communityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252382020-11-25T06:00:00Z2020-11-25T15:00:00Z

​​SAN ANTONIO – Place Development is building Arbolada, a 318-unit, 26-building apartment community at the corner of Kyle Seale Pkwy. and Babcoc​k Rd. 

Amenities will include a fitness center, yoga room, lap pool, and walking trails. 

Construction will be complete by summer 2022. 

Stewart Development and Construction is building the project. CREO Architecture and Humphreys & Partners Architects designed it. 

texaslogo.pngThe Real Estate Center has more news like this online for free:
San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
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Silver Ventures picks up 2.17 acres north of PearlSilver Ventures picks up 2.17 acres north of Pearlhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252322020-11-24T06:00:00Z2020-11-24T17:00:00Z

​​SAN ANTONIO – Silver Ventures has acquired 2.17 acres at 102 E. Josephine St. 

The property includes a 34,450-sf wareh​ouse. 

Texas logoThe Real Estate Center has more on San Antonio's industrial ​market:

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
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NRP Group developing 212-unit affordable housing project NRP Group developing 212-unit affordable housing project https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252332020-11-24T06:00:00Z2020-11-24T17:00:00Z

​SAN ANTONIO – NRP Group is developing Kitty Hawk Flats, a 212-unit affordable housing development at the northeast corner of Kitty Hawk and O'Connor Road​s. 

The property will have one- to four-bedroom units. Some units will be reserved for renters earning between 30 and 70 percent of the area median income.  

Construction will be complete by March 2022. 

KeyBank provided $54.4 million in financing.

texaslogo.pngThe Real Estate Center has more news like this online for free:
REBUSINESS
San Antonio-New Braunfels
Multifamily
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Metro Fort Worth apartments soldMetro Fort Worth apartments soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252342020-11-24T06:00:00Z2020-11-24T17:00:00Z

​​​HALTOM CITY – Bellrock Real Estate Partners has purchased Grand on Beach, a 304-unit apartment community at ​​4100 Northern Cross Blvd. 

Built on 15 acres in 2019, the asset has units averaging 818 sf. 

Amenities include a pool, fitness center, business center, outdoor dining lounge, and dog park. 

Institutional Property Advisors represented the seller, CLX Ventures, and procured the buyer. 

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: REBusiness Online

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
Developers team up on Houston mixed-use projectDevelopers team up on Houston mixed-use projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252292020-11-24T06:00:00Z2020-11-24T16:00:00Z

​​​​​HOUSTON – Lionstone Investments and Hanover Co. are partnering on Autry Park, a 14-acre mixed-use project at the western edge of Buffalo Bayou​ Park.

The five-tower develo​pment will include 1,450 residential units, 350,000 sf of Class A office space, and 100,000 sf of retail. The buildings will surround greenspace. 

The project will be built in three phases. 

Rebees is the development partner for retail. ​

Texas logoThe Real Estate Center has more information​ like this online:

​​Source: Connect Media

Connect Media
Houston-The Woodlands-Sugar Land
Mixed-Use
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Move.org: El Paso most affordable city for rentersMove.org: El Paso most affordable city for rentershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252302020-11-24T06:00:00Z2020-11-24T16:00:00Z

​​​​​SALT LAKE CITY ​​– El Paso has taken the top spot on Move.org's list of U.S. cities with the lowest cost of living for renters. 

According to the report, the Far West Texas city has a total monthly cost of living of $1,324 per person. This includes $710 for renting a one-bedroo​m apartment. 

Corpus Christi was the next Texas city on the list, ranking seventh. The average one-bedroom apartment rent is $957, and the total cost of living is just under $1,538 per person. 

Plano rounded out the top 15 rankings. The average rent for a one-bedroom apartment is $1,160, bringing the total cost of living to just under $1,753.

At $2,303, Austin had the highest average monthly cost of living of all Texas cities evaluated. However, the Texas Capital is still more affordable than coastal cities. 

The rest of the top five most affordable renter cities are Wichita, Kan.; Lincoln, Neb.; Tucson​, Ariz.; and Lexington, Ky. ​

To determine the rankings, Move.org analyzed the 75 most populous cities according to the U.S. Census Bureau using data from Numbeo.com, the Bureau of Transportation Statistics, and the U.S. Department​ of Transportation.

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: Move.org

Move.org
Texas
Multifamily
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New Las Colinas hotel gets the OKNew Las Colinas hotel gets the OKhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252312020-11-24T06:00:00Z2020-11-24T16:00:00Z

​​​​IRVING – Arlington-based Type Six Design & Development has received​ zoning ​​approval for a six-story Hotel Indigo in Las Colinas.

The 150-room hotel will include a restaurant and meeting space.

Construction starts in second quarter 2021. 

Texas logoGet more Dallas hotel news​ on the Real Estate Center's website.

​Source: Dallas Morning News
Dallas Morning News
Dallas-Fort Worth-Arlington
Hotel
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RGV retail strip centers trade handsRGV retail strip centers trade handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252282020-11-24T06:00:00Z2020-11-24T15:00:00Z

​MISSION – ​Stan Johnson Co. has arranged the sale of two retail strip centers in the Rio Grande Valley. ​

The 15,000-sf Ruby Plaza is at 6600 N. Val Verde Rd. in Donna. 

Palmhurst Plaza at 432​2 N. Conway Ave. in Palmhurst totals 11,560 sf. 

Both buyers were private investors. ​

Texas logoThe Real Estate Center has a wealth of economic information online for free.

REBUSINESS
McAllen-Edinburg-Mission
Retail
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Texas mortgage delinquencies high, foreclosures lowTexas mortgage delinquencies high, foreclosures lowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252262020-11-23T06:00:00Z2020-11-23T21:00:00Z

​COLLEGE STATION – The economy took a big step forward in 3Q2020 with GDP increasing 33 percent at an annualized rate. How did Texas homeowners fare last quarter?

The percentage of Te​xas mortgages in delinquency dropped slightly from 9.35 percent in the second quarter to 9.1 percent in the third. Current levels are high compared with recent years but still haven’t exceeded the high watermark of 10 percent reached in 2009 following the aftermath of the Great Recession.

Texas mortgage delinquencies

While delinquencies are high, foreclosure rates remain exceptionally low thanks in large part to the Federal Housing Finance Agency’s (FHFA) ongoing foreclosure moratorium. The foreclosure rate continued to linger below 1 percent of the entire Texas mortgage pool, according to data from the Mortgage Bankers Association. 

Some exceptions do apply, such as private-label mortgages, which are not protected by moratorium restrictions. 

The foreclosure moratorium is set to expire Dec. 31, 2020. So far, there has been no word as to whether the FHFA will extend the moratorium or let it expire this year. Meanwhile, the Treasury Department recently announced its intention to let a variety of emergency lending facilities under the Coronavirus Aid, Relief, and Economic Security (CARES) Act expire. 

Texas logoThe Real Estate Center has a wealth of economic information online for free.

​Source: Real Estate Center​
Real Estate Center
Texas
Housing
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Old Motorola campus transforming into office parkOld Motorola campus transforming into office parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252272020-11-23T06:00:00Z2020-11-23T21:00:00Z

​AUSTIN – The city has approved a rezoning request to redevelop the old Motorola campus into the Tech 3443 office park. 

Romspen is planning a seven-building, multi-use campus anchored by a pair of 40-story buildin​gs. 

Construction will be complete in five years. ​​

Texas logoThe Real Estate Center has more office news for Austin-Round Rock:

Austin Business Journal
Austin-Round Rock
Office
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Cadence McShane opens 238-unit multifamily complexCadence McShane opens 238-unit multifamily complexhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252222020-11-23T06:00:00Z2020-11-23T20:00:00Z

​​LEANDER – Cadence McShane Construction has completed Hermosa Village,​ a 329,418-sf apartment complex at 11680 Hero Way W.

The property offers 238 one- to three-bedroom units. Rents range from $1,140 to $2,224 per month. 

Amenities include a fitness center, pool, dog park, and community farm.​

texaslogo.pngThe Real Estate Center has more news like this online for free:
Connect Media
Austin-Round Rock
Multifamily
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Bandera starts on 202K-sf industrial buildingBandera starts on 202K-sf industrial buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252232020-11-23T06:00:00Z2020-11-23T20:00:00Z

​LUBBOCK – Bandera Ventures has broken ground on Lubbock Logistics Center Build​ing 2, a 201,913-sf industrial building in the Lubbock Business Park. 

The cross-dock facility will have 56 dock doors, 36-ft clear heights​​, and ​100 trailer parking positions.​​

Texas logoThe Real Estate Center has more Lubbock news online for free:

Lubbock Avalanche-Journal
Lubbock
Industrial
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PGA Tour Superstore scores 35K-sf SA leasePGA Tour Superstore scores 35K-sf SA leasehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252242020-11-23T06:00:00Z2020-11-23T20:00:00Z

SAN ANTONIO – PGA Superstore has leased 34,500 sf in Blanco Market, a shopping center at 18360 Blanco Rd. 

Work starts on the $1 million in early March 2021. Construction will finish by July. 

Texas logoGet more San Antonio-area retail news on the Real Estate Center's website:

​​Source: San Antonio Business Journal

San Antonio Business Journal
San Antonio-New Braunfels
Retail
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Jefferson Bank breaks ground on 12-story office towerJefferson Bank breaks ground on 12-story office towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252252020-11-23T06:00:00Z2020-11-23T20:00:00Z

​SAN ANTONIO – Jefferson Bank has broken ground on a 230,000-sf office tower​ at 1900 Broadway. 

The project will have ground-floor retail, five levels of parking, and eight levels of office spa​ce, four of which will be occupied by Jefferson. 

Amenities will include a lounge, fitness center, bar, and outdoor patios. ​

Construction will be complete by ​​third quarter 2022. 

Joeris General Contractors is building the project. Don McDonald Associates and HKS are the designers. ​

Texas logoThe Real Estate Center has more on San Antonio's office market:

San Antonio Business Journal
San Antonio-New Braunfels
Office
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