Florida investor closes in on half a billion in Houston apartment deals
DLP Capital, a private real estate investment and financial services firm based in St. Augustine, Fla., acquired Domain at Morgan’s Landing, a 350-unit apartment complex at 3300 Bay Area Blvd. in La Porte from CityStreet Residential. The acquisition was made in partnership with Dallas-based Elevate Commercial Investment Group. Built in 2021 on 18 acres, the Morgan’s Landing complex has 13 three-story buildings containing one- to three-bedroom units. Amenities include a pool with sundeck; athletic club; movie screening room; lounge with billiards, shuffleboards and poker table; pet park; and a beer garden with firepit and grilling stations. DLP Capital has invested $480 million in multifamily properties in greater Houston in the last 12 months.
VIV Real Estate, a Houston-based real estate firm established in 2021, made its first acquisition with the Envue Square Apartments, a 135-unit property at 123 Winkler Drive in southeast Houston. Richard Zigler, one of VIV’s principals, the location near H-E-B, Home Depot and other stores at Gulfgate Shopping Center factored into the purchase. VIV plans to continue the unit upgrade program that the previous owner put in place. VIV partnered with Texas Valley Group, a private real estate firm focused on multifamily assets in the Sun Belt, on the deal.
West Woodland Business Park LLC purchased 1.75 acres in Tomball Business and Technology Park, a 100-acre business park at Holderrieth Road and Hufsmith Kohrville Road, just east of the Tomball Tollway, in Tomball. Rob Banzhaf of Newcor Development represented the buyer. Tom Condon Jr., principal of Colliers in The Woodlands, represented the seller, Tomball Economic Development Corp. Newcor Development is working on plans for an office or office-warehouse spec facility for multi-tenant occupancy on behalf of the buyer. The park is nearly 77 percent sold.
Legion Piping Fabricators leased 50,995 square feet at 6410-F Langfield Road. Travis Land and A.J. Williams of NAI Partners represented the landlord, HOU IND 2. Patrick Mckiernan and Jason Mashni of First Houston Properties represented the tenant.
East End Transfer & Storage leased 19,800 square feet of space at 6505 Dixie Drive. Travis Land and A.J. Williams of NAI Partners represented the landlord, Hoffman-Glass Family Ltd. Key Love with Get Realty represented the tenant.
Reed Vestal and John Erck of Junction Commercial Real Estate represented an affiliate of Junction’s private equity division in the acquisition of 1001 E. Shaw Ave. in Pasadena. More than half of the 80,110-square-foot office/warehouse building is leased Camin Cargo Control.
Penncomp renewed and expanded to 6,091 square feet at 2040 N. Loop West. Justin Harrity represented the landlord, Hartman Income REIT.
Leger Ketchum & Cohoon leased 2,677 square feet for law offices at 10077 Grogans Mill Road in The Woodlands. John Zivley of NAI Partners represented the tenant. Lisa Hughes with SVN | J. Beard Real Estate represented the landlord.
Mountain West Capital purchased a 30,400-square-foot industrial property at 2034-2038 McAulty Road in north Houston. Zane Carman and Clay Pritchett of NAI Partners represented the buyer. Darin Gosda and Glynn Mireles of CBRE represented the seller.
Creative, a Miami-based real estate investment firm, acquired Two Harbour Square, a 26,970-square-foot medical office plaza at 3033 Marina Bay Drive in League City. Cary Latham, Wyatt Huff and Jason Gaines of NAI Partners represented the seller, LH Harbour Square LLC.
CAM Process Technologies, an entity of CAM Integrated Solutions, completed the addition of a 55,000-square-foot manufacturing facility in Brookshire, bringing their total to 140,000 square feet. CAM provides turnkey solutions for the engineering, fabrication and packaging of process equipment for the energy industry.
The 15,353-square-foot medical office building anchored by kidney care provider DaVita at 11321 Fallbrook Drive in northwest Houston has changed hands. Edward Choi of Edward Choi Investments represented the buyer. Todd Moore and Connor Duffy of Colliers represented the seller, EBK-DA LLC. The property is near HCA Cy-Fair Hospital.
Rare Earth Recovery leased 9,700 square feet at 11437 Todd Street in the Todd Street Industrial. Chase Tucker and Andrew Bischoff of Finial Group represented the landlord.
