This Week’s Houston Deal Sheet
Sentinel Peak Capital Partners acquired Lakebridge Apartments, a 272-unit garden-style apartment community in north Houston.
Lakebridge Apartments is located at 300 Woerner Road in the Spring submarket. Phase 1 was developed in 1984 as condominiums and Phase 2 was added in 2001.
The property has 19 two-story buildings on 13.2 acres, with residential units averaging 896 SF. All ground-floor units have been recently renovated.
JLL’s Chip Nash, Bob Heard, Greg Austin, Chris Young, Joey Rippel, Chris Curry and Todd Marix marketed the property on behalf of the undisclosed seller, and procured the buyer. JLL’s debt placement team, led by Campbell Roche and James Brolan, worked on the new owner’s behalf to arrange floating-rate acquisition financing, which was provided by Voya Investment Management.
PEOPLE
Pamela McGlashen joined Kaplan as president of management. Her executive responsibilities will focus on the operational stewardship of all fee and owner-managed multifamily communities in the portfolio that spans multiple markets across the Sun Belt.
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Rip Reynolds joined JLL’s Houston office as a senior vice president, and will serve as agency lead for the retail team. Previously, Reynolds worked with The Woodlands Development Co./Howard Hughes Corp. as vice president of leasing and commercial land.
SALES
Black Creek Group purchased a 140K SF Class-A industrial building at 2020 North Highway 146 in La Porte. The buyer represented itself, while Cushman & Wakefield’s Andrew Jewett and Jason Dillee represented the seller, Clay Development & Construction Inc.
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An undisclosed buyer purchased Shops at Porter at 23611 Highway 59 North in Porter. The property is a 30.3K SF stabilized retail center with well-established credit tenants on new 10-year leases. Edge Realty Partners’ Micha van Marcke and Chace Henke represented the seller, SDI 59 Porter.
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The Harris County Flood Control District purchased 37.2 acres near Beltway 8 in south Houston. The land is at the confluence of two drainage channels and will be used for detention. The undisclosed seller was represented by Land Advisors Organization’s Kirk Laguarta and Duane Heckmann.
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Billiard Factory Inc. purchased 1.5 acres fronting Grand Parkway and Texas 99 in Katy for future retail development. The site is part of a 6-acre tract for sale. Billiard Factory plans to build a 14K SF owner-occupied project with extra space for retail tenants. Property Commerce’s Clay Trozzo represented the buyer, while NewQuest Properties’ Josh Friedlander and Rebecca Le represented the seller, NewQuest Crosswell.
LEASES
Johnson Controls leased 30K SF of industrial space at 4111 Greenshadow Drive in Pasadena. The tenant was represented by CBRE’s Carlton Anderson, while Lee & Associates’ Reed Vestal and Taylor Schmidt represented the landlord, Vigavi Realty.
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The University of St. Thomas leased 20K SF at the Vision Park Medical office building at 121 Vision Park Blvd. in Shanandoah. The university will use the third floor of the building and will offer its Second Degree Accelerated Bachelor of Science in Nursing program. Colliers International’s Beth Young represented the tenant, while J. Beard Real Estate Co.’s Lisa Hughes and Pamela Sprouse represented the landlord, Everson Developments and VP2 Partners.
