Bright Realty sold the 260-unit multifamily community Valor at The Realm Apartments in Castle Hills and the 35K SF of retail space below it to real estate investment and property management company Weidner Apartment Homes.
Courtesy of Bright Realty
The Valor at The Realm Apartments multifamily community in Castle Hills was sold to Weidner Apartment Homes.
The property, which Bright Realty developed in 2021, is part of the 324-acre The Realm at Castle Hills master-planned development. Valor at The Realm Apartments features more than 213K SF of residential space and amenities such as a yoga studio and a resort-style pool.
“This property reflects our vision of creating thoughtfully designed communities that elevate the quality of life for residents while contributing to the vitality of the region,” Bright Realty President and Chief Operating Officer Eric Stanley said in a statement. “We are pleased to see it continue under the ownership of Weidner Apartment Homes.”
The luxury apartment community is at 4440 State Highway 121. Representatives from JLL brokered the deal.
In addition to residential, The Realm at Castle Hills features 250K SF of office space and 60K SF of retail.
PEOPLE
HKS named Ashli Pettigrew director of social equity. Pettigrew will work with HKS leadership to ensure equity is embedded in each of the organization’s decisions, processes and investments.
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Newmark added Jeff Cecil as executive managing director and Sara Troy as senior managing director. Cecil and Troy will focus on tenant and landlord representation for industrial users. Cecil has more than 20 years of leadership experience, most recently at Savills. Troy has 10 years of experience and was also with Savills before joining Newmark.
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Green Brick Partners appointed Elizabeth K. Blake as its lead independent director. Blake has served as an independent director for Green Brick Partners’ board since 2014.
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CBRE Group named Adam Gallistel and Andy Glanzman co-CEOs of CBRE Investment Management. Gallistel will also serve as chief investment officer, responsible for investment strategy and performance as well as focusing on investor engagement. Glanzman will also serve as president and oversee day-to-day operations as well as develop and execute business strategy. Gallistel will join CBRE Investment Management in April, coming from Singapore sovereign wealth fund GIC. Glanzman joined CBRE Investment Management in 2010.
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Stronghouse Solutions appointed Andy Colmone chief financial officer. Colmone was most recently with car wash company Spotless Brands.
SALES
Commercial real estate brokerage firm The Multifamily Group closed on four multifamily transactions in North Texas over the last month.
An out-of-state buyer acquired the 28-unit Country View Duplex Community built in 2021 in Decatur as part of a 1031 exchange with all cash. A local syndicator purchased the 26-unit Heritage of Newark. That property was built in 1981. The 24-unit Bella Capri, built in 1969 in Grand Prairie, was sold to a local investor. The purchaser of the nine-unit Mountain Creek Townhomes in Dallas wasn't disclosed.
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Landsea Homes Corp. purchased 72 completed lots in Granbury for the planned Pirate Village community. Sales of the 72 single-family detached homes are expected to begin early next year. Each residence will be equipped with smart home automation technology, according to Landsea.
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Industrial real estate investment management firm Founders Properties bought the 122K SF Centerport 1 infill distribution facility in Fort Worth. The 1984-built property in the CentrePort Business Park is fully leased to a single tenant with a long-term agreement.
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Dallas-based Apricus Realty Capital purchased the fully leased 1500 High Meadows industrial outdoor storage property in Cedar Hill as part of a joint venture with ABR Capital. The acquisition of the 7.5-acre site with an 18K SF building is structured as a sale-leaseback with Highway Intelligent Traffic Solutions. Apricus’ Matt Haley, Garrett Marler and Cort Martin led the acquisition for the joint venture. Colliers’ Noah Dodge and Blair Oden Jr. represented the seller, while JLL’s C.W. Sheehan, Peyton Ackerman and Nate Henderson represented the joint venture in securing debt financing.
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Marcus & Millichap announced the sale of the 16-unit Treehouse Apartments at 1400 Cherry Drive in Arlington to a private investor. The Treehouse received a $650K value-add investment before going to market fully vacant. Marcus & Millichap’s Dylan York, Ford Braly and Al Silva marketed the property on behalf of the out-of-state owner and secured the buyer.
LEASES
HDR Engineering increased its space in the south building of the Amber Trail Office Park at 17111 Preston Road in Dallas with a lease for 51K SF, 12K SF more than it previously occupied. Koa Partners’ Harry Lake and Leander Johnson represented the landlord, while JLL’s Kelley Kackley and MaryMichael McCartin represented HDR Engineering.
CONSTRUCTION AND DEVELOPMENT
Courtesy of Morris Adjmi Architects
The Seam will feature courtyards and landscapes designed to create walkability.
Asana Partners plans to break ground on the 160K SF retail project The Seam at 1444 Oak Lawn Ave. in Dallas during the first quarter. Morris Adjmi Architects is designing the Design District project. Asana purchased the property in 2023 and plans to open the retail destination in summer 2026.
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Greystar announced the opening of its Birchway Sherman multifamily community in Sherman. Amenities at the development include a dog park, a fitness center and a resort-style swimming pool with a sundeck and cabanas. The development is in the Sherman Town Center shopping center.
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Courtesy of Resia
The multifamily community Resia Rayzor Ranch is now open in Denton.
Resia held a ribbon-cutting for the 433-unit Resia Rayzor Ranch apartment community in Denton. Located at 3130 Heritage Trail, Resia Rayzor Ranch offers amenities such as a fitness center, a swimming pool with a lounge deck, a basketball court and a planned pickleball court.
