October 19, 2021 • Issue 1,172 |
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KKR, Kairoi Residential Acquire 310-Unit Nove at Knox Apartments in Dallas |
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Nove at Knox in Dallas totals 310 units. The property was built in 2021. |
DALLAS — A partnership between global investment firm KKR and San Antonio-based development and management firm Kairoi Residential has acquired Nove at Knox, a 310-unit apartment community in the Knox-Henderson area of Dallas.
The sellers, California-based KBS and Tennessee-based Southern Land Co., completed the 19-story building earlier this year. Units are furnished with floor-to-ceiling windows, luxury finishes and individual washers and dryers.
The amenity package features a pool, fitness center, business center, dog park and outdoor recreation spaces. Kairoi Residential will also manage the property.
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CBRE Negotiates Sale of 202,140 SF Industrial Property Near DFW International Airport |
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DFW North Logistics Center in Grapevine totals 202,140 square feet. The property was built in 2008. |
GRAPEVINE, TEXAS — CBRE has negotiated the sale of a 202,140-square-foot industrial property located near Dallas-Fort Worth (DFW) International Airport in Grapevine.
DFW North Logistics Center consists of two buildings that were constructed in 2008 and feature 21- to 30-foot clear heights and parking space for up to 100 trailers.
Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE represented the seller, an affiliate of Olympus Ventures, in the transaction. Boston-based STAG Industrial purchased the asset, which was fully leased at the time of sale, for an undisclosed price. |
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Have You Read the September Issue? |
HEADLINES Multifamily Managers Step Up Their Game During times of economic uncertainty and in markets in which renters have ample options, competent operators can influence new leasing and renewal rates.
Hotel Buyers Adjust Strategies to Find Value Select assets can present attractive investment opportunities, but capital sources must assess broader market conditions, such as reliance on domestic airborne travel.
INSIDE THE ISSUE
The Biggest Deals and Projects from DFW, Houston, Austin and San Antonio
Texas Real Estate Business' Annual Economic Development Directory |
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Partners Group, Accesso Sell 120,599 SF Office Building in Uptown Dallas |
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Partners Group and Accesso boosted the occupancy rate of 2626 Cole in Dallas by 35 percent during their ownership period. |
DALLAS — Global investment firm Partners Group and Florida-based Accesso have sold 2626 Cole, a 120,599-square-foot office building in the Uptown/Turtle Creek area of Dallas.
The partnership acquired the building in 2014 and implemented a value-add program. Current tenants include WorkSuites, Republic Editorial and Annandale Capital.
Andrew Levy, Todd Savage and Parker McCormack of JLL represented Partners Group and Accesso in the transaction. Metro Seattle-based Talon Private Capital purchased the asset for an undisclosed price.
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SkyView Advisors Negotiates Sale of 978-Unit Self-Storage Portfolio in Oklahoma City
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OKLAHOMA CITY — Tampa-based brokerage firm SkyView Advisors has negotiated the sale of the Shepherd & Mustang Portfolio, a self-storage portfolio in the Oklahoma City area that consists of two properties totaling 145,115 net rentable square feet across 978 units.
Scott Schoettlin and Ryan Clark of SkyView Advisors represented the seller, a locally based limited liability company, in the transaction. The buyer is a Texas-based developer that is considering vertically expanding the facilities with climate-controlled space.
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Marcus & Millichap Brokers Sale of 563-Unit Self-Storage Facility in Oklahoma City |
OKLAHOMA CITY — Marcus & Millichap has brokered the sale of Apublix Self Storage, a 563-unit facility in Oklahoma City. The property encompasses 83,960 net rentable square feet of climate- and non-climate-controlled space.
Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. |
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Texas Multifamily & Affordable Housing Business magazine |
Check out the digital edition of the July/August issue of Texas Multifamily & Affordable Housing Business magazine — click here to read the issue. |
We talk with investors and developers across Texas about the latest in conventional multifamily, as well as affordable, workforce and mixed-income housing. |
For more information about Texas Multifamily & Affordable Housing Business, contact |
Scott France at 404-832-8262 x 108
or
Jill Dickstein at 646-940-0465 |
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TRENDS IN REAL ESTATE |
NAIOP: Commercial Real Estate Industry Sentiment Up to 56 in September, Near Pre-Pandemic Level |
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The index for September 2021 came in at 56 out of 100, up slightly from 54 in April 2021 and identical to March 2019, a year before the pandemic began. (Source: NAIOP)
By Julia Sanders |
WASHINGTON, D.C. — Commercial real estate professionals indicate conditions in the industry have returned to approximately where they were before the onset of the COVID-19 pandemic, according to The National Association of Industrial and Office Parks (NAIOP) Fall 2021 Commercial Real Estate Sentiment Index.
The index for September 2021 came in at 56 out of 100, up slightly from 54 in April 2021 and identical to March 2019, a year before the pandemic began. At the pandemic’s worst point — March through September 2020 — the index sank to 45.
The NAIOP Sentiment Index was created to predict general conditions in the commercial real estate industry over the following 12 months by asking industry professionals to predict conditions for their own projects and markets. The Fall 2021 report surveyed a total of 357 respondents from 263 distinct companies from Sept. 7 to 14. The index asks respondents questions about jobs, space markets, construction costs, capital markets and other conditions for real estate development.
A sentiment index below 50 means many believe there will be unfavorable commercial real estate conditions over the next 12 months; 50 means little to no change in commercial real estate conditions are expected; and greater than 50 means favorable commercial real estate conditions are expected. <click here to read the full story> |
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Are you getting all the news you need? |
France Media publishes 12 free e-newsletters, covering commercial real estate by region or with a focus on specific property types, including retail, student housing and seniors housing. |
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