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Solar Holdings Group acquired the Tradehouse at Bulverde Market residences in San Antonio. Sync Residential, the corporate’s property administration arm, will handle the property.
Solar Holdings Group acquired the Tradehouse at Bulverde Market residences in San Antonio. Sync Residential, the corporate’s property administration arm, will handle the property.
Photograph: Solar Holdings Group
Solar Holdings Group acquired the Tradehouse at Bulverde Market residences in San Antonio. Sync Residential, the corporate’s property administration arm, will handle the property.
Solar Holdings Group acquired the Tradehouse at Bulverde Market residences in San Antonio. Sync Residential, the corporate’s property administration arm, will handle the property.
Photograph: Solar Holdings Group
Denver-based Black Creek Group bought the majority of its Houston portfolio in January, however remains to be eager on the Bayou Metropolis.
The actual property funding administration and growth agency closed on the acquisition of Port 146, a 140,275-square-foot industrial constructing at 2020 N. Freeway 146 in La Porte, from Clay Growth & Building on April 14.
Andrew Jewett and Jason Dillee of Cushman & Wakefield represented Houston-based Clay within the sale, which provides a second constructing in La Porte to Black Creek’s holdings.
The corporate plans to discover a tenant for the lately accomplished constructing, which is close to the Port of Houston, and maintain it for the long run. The COVID-19 pandemic didn’t intervene with the deal, as the corporate believes the constructing can be a stable performer.
“We actually worth the placement of this asset and its place adjoining to the port,” mentioned Mace McClatchy, Black Creek’s Dallas-based senior vp.
The constructing is suited to bulk distribution tenants corresponding to these dealing with client items, meals and beverage or plastic resins. It additionally has exterior trailer storage.
“We attempt to forged a large internet shopping for empty buildings so we are able to seize many alternative kinds of tenant demand,” McClatchy mentioned.
Black Creek bought 22 buildings within the native market to Prologis in January as half of a bigger portfolio sale by its Industrial Property Belief fund.
The agency, which invests in industrial, workplace, multifamily and retail properties by way of varied funding platforms, owns 41.three million sq. ft throughout 29 markets. The commercial element totals 35.three million sq. ft, together with roughly 1 million sq. ft within the Houston space.
Domestically, Black Creek owns six buildings, together with three in Stafford, one in northwest Houston and two in La Porte, and 40 acres in Chambers County east of Houston.
Houston investor grows San Antonio portfolio
Solar Holdings Group, a Houston actual property funding and administration agency, expanded its San Antonio holdings with the acquisition of the Tradehouse at Bulverde Market residences.
In-built 2018, the 330-unit complicated at 17038 Bulverde Street in north central San Antonio was bought from NRP Group of Cleveland. It’s a part of the 104-acre Bulverde Market mixed-use growth anchored by H-E-B.
The three-story complicated, which presents one- and two-bedroom items as much as 1,532 sq. ft, is accessible to North Central Baptist Hospital and the College of Texas at San Antonio. Facilities embrace a pool and outside kitchens, a social lounge, billiards room and health middle.
Sync Residential, the property administration arm of Solar Holdings Group, will handle the property, which inserts in with Solar Holdings’ technique of buying Class A properties as long-term investments.
“We labored intently with Freddie Mac and Berkadia’s Cutt Ableson to efficiently safe very engaging financing,”mentioned Ido Blatt, managing companion of Solar Holdings Group. “We stay up for constructing upon all these relationships to pursue future acquisitions.”
Solar Holdings has amassed a portfolio of 5,500 house items throughout 18 properties, together with three in San Antonio. It additionally owns and operates residences in Houston, Atlanta, Austin/central Texas and Fayetteville, Ark. The corporate’s principals moved to Houston from Israel in 2014 and fashioned the Sync Residential division, which employs 141 individuals, in 2016.
Whereas Blatt mentioned the agency was “bullish on the long-term prospect of multifamily,” given the “double whammy” of low oil costs and COVID-19, Solar Holdings is continuing with warning on Houston investments.
“We’re hopeful that Houston stays robust and continues to develop, however given the circumstances, we’re a bit bit extra cautious,” Blatt mentioned.
katherine.feser@chron.com
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