Investors home in on Houston apartments | Ezine Daddy

main square announced the acquisition of Alta West Alabama, a 304-unit apartment complex at 3623 W. Alabama near River Oaks and Greenway Plaza. Developed by Atlanta-based Wood Partners, Alta West Alabama opened in early 2021. Amenities include a resort-style swimming pool, fitness center, sky lounge with kitchen, coworking spaces, and pet spa. The acquisition was made through Capital Square’s CS1031 Houston Apartments DST subsidiary, which is seeking to raise $56.5 million in equity from investors.

Based in Nashville Healthcare Realty Trust acquired the Pinnacle Professional Building, a 76,781 square foot medical office building at 129 Vision Park Blvd. in Shenandoah for $36.25 million. According to Healthcare Realty, the building is 100 percent leased to a diverse mix of tenants. The seller was Med Men LLC. The acquisition expands Healthcare Realty’s portfolio to 12 medical office buildings totaling more than 783,000 square feet in the Houston market, including eight buildings totaling 516,000 square feet in The Woodlands area.

The Praedium Group, a New York-based real estate investment firm, acquired the 380-unit Lenox Clear Lake Apartments at 15500 Middlebrook Drive from OHT Partners. Completed in 2021, Lenox Clear Lake features traditional units and two-story townhouses, two resort-style pools, poolside cabanas with flat-screen TVs, a pet spa, dog parks, a coworking business center with private workspaces, a fitness center, and package lockers Cold storage ability and covered boat or car storage.

Tampa-based American Landmark Apartments acquired the 293-unit H6 Apartments at 14805 Grisby Road in the Energy Corridor. Built in 2016 with units ranging from 475 to 1,444 square feet, the property near Texas 6 and Interstate 10 was renamed Neo at Ten.

An Ohio-based private equity firm has purchased three residential properties from Three Pillar Capital Group, a Houston private equity firm, for a total of $56 million. The properties consist of Pine Lake Village, a 96-unit property at 1325 Greens Parkway ($12.1 million); Green Tree Place Apartments, a 196-unit complex at 700 Dunson Glen Drive ($22.6 million); and Ridge Point, a 168-unit property at 2700 Westridge St. near NRG Park ($21.3 million -Dollar). Since acquiring the properties over the past three years, Three Pillars has made upgrades such as vinyl plank floors, granite counters, new appliances and lighting.

Next level emergency care opened a 3,000 square foot clinic at 101 Winding Way St. in Lake Jackson providing urgent care services for chronic and acute illnesses, fractures, lacerations, contusions and other non-life threatening injuries. It is the Houston-based company’s 24th location.

welfare capital has refinanced a 10-property, 2,549-unit apartment portfolio in Arizona and Texas. The loans, totaling $372.6 million, were arranged by JLL Capital Markets of Phoenix. Locally, the portfolio included Bar Harbor at 2601 Repsdorph Road in Seabrook.

Culture-based facility group, an office furniture and interiors company, leased 11,949 square feet at 1050 N. Post Oak Road. NAI Partners’ Alex Taghi and Holden Rushing represented the tenant. Silver Street Capital’s Charles McGahren represented the landlord.

Ideal steel renewed a 66,500 square foot industrial lease at 5900 Brittmoore Drive. Jake Wilkinson and Darren O’Conor of NAI Partners represented the tenant. Brad Berry and Ryan Wasaff with the Welcome Group represented landlord Welcome Industrial Sub 20.

Onpoint contracting 1,950 square feet leased at Mills Road Service Center, 11115 Mills Road. Mickey Brown of Bernell & Associates represented the landlord, MJD Trust. David Gerber of Gerber Realty represented the tenant.

InGRIT 4,570 square feet of leased office space at 3200-3400 Research Forest Drive, The Woodlands. Elena Bakina from Colliers represented the tenant. Greg Usher of Cypressbrook Co. represented landlord Vista Woodlands Partners.

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skin and body care 2,148 square feet leased at 11200 Westheimer. Andreina Landis of Fathom Realty represented the tenant. Donna Svec represented the lessor Hartman Income REIT.

katherine.feser@chron.com

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