Investors take over Houston apartments

Tachus, a local fiber optic Internet service provider with more than 10,000 customers, has sublet 24,517 square feet at the Kiewit Building at 3831 Technology Forest Blvd. in The Woodlands. Zach Rogers and Ross Foldetta of Foldetta Commercial represented the subcontractor. Louie Crapitto of JLL represented the sub-donor, Kiewit.

A fund managed by a subsidiary of Ares Management Corp. purchased an industrial portfolio of six buildings totaling 1.5 million square feet, including over 600,000 square feet in the Houston area, from Chicago-based Molto Properties. Local properties consist of 625 Independence Parkway (414,000 square feet) and 645 Independence Parkway (194,610 square feet) in Deer Park. Adam Tyler, Jim Carpenter and Mike Tenteris of Cushman & Wakefield represented the seller. The portfolio, which included properties in Louisville, Kentucky, Chicago, Nashville and Cincinnati, is 94% leased to nine tenants. Ares Management acquired the real estate investment advisory and distribution business of Black Creek Group in the United States in July.

A Houston joint venture Stonewall Associates and North Group of New York has acquired an apartment portfolio of four properties totaling 1,556 units in the Houston area. Joey Rippel, Chris Young, Jeffrey Skipworth, Kyle Whitney, Todd Marix and Chris Curry of Berkadia Houston marketed the portfolio for the seller, GVA Real Estate Group, based in Austin, TX. The properties consist of Mosaic, with 504 units at 4025 Burke Road in Pasadena; Huntington Glen, with 364 units at 12023 Bissonnet; the Onyx, with 438 units at 10300 S. Wilcrest; and the Avenue, with 250 units at 5050 Yale.

Hertz investment group, a property management company based in Woodland Hills, Calif., announced leases totaling 90,000 square feet in its Brookhollow Central I and II office buildings in 2021. The largest was Christus Health, which signed a lease for 21 000 square feet for the relocation of its Administrative Office from Houston to Brookhollow Central II at 2900 N. Loop West. Other leases include Bowen Miclette & Britt Insurance Agency, IntegraNet Physician Resource, The Heights Insurance Services, IPFS and McGrath & Co. The 800,000 square foot campus recently underwent a $ 14 million renovation, including redesigned halls, common areas, toilets and a systems building.

Equity Group 7C, a local investment group led by Rakesh Bansal and Rajib Batabyal, has purchased Turtle Pointe, a 432 unit apartment complex at 8162 Richmond. Todd Marix, Chris Curry, Jeffrey Skipworth, Joey Rippel, Chris Young and Kyle Whitney of Berkadia Houston marketed the property on behalf of the seller, WRH Realty. The property was built in 1976. Berkadia Austin arranged the buyer’s financing through Ready Capital.

Allied Orion Group has been selected to manage Virtuo Med Center, a new 326 unit apartment complex developed by Medistar Corp. at 7110 Ardmore St. The property offers studios, one and two bedroom floor plans.

Edison Equity Management Corp.. purchased 8.1 acres at 20510 Cypress Plaza Parkway in Tuckerton in the community of Cypress Creek Lakes in Cypress. Alex Makris, Jeff Pittman, Patrick Keegan and Zach Leger of NAI Partners represented the buyer. The seller was Mischer Investments. The buyer plans to develop the 55 Resort at Cypress Creek Lakes, an active adult community of 182 units with amenities including a gym, fitness studio, library, resort-style pool and restaurant.

Embryo management services was selected to provide residential services to Soneto On Western, a 330 unit apartment complex located at Cinco Ranch in Katy. Owned by the Praedium Group, the property at 23615 Western Center Drive was previously known as Lenox Grand Crossing.

S&S South West leased 2,518 square feet at 811, chemin S. Mason. Shawn Baksh of Trotwood Realty represented the tenant. Wil Logan represented the owner, Hartman Income REIT.

AT&T expanded and renewed its 52,225 square foot lease at 10775 Kempwood Drive in Claymoore Business Park III. Boone Smith and Garret Geaccone of Stream Realty Partners represented the owner, DRA Advisors.

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