The buyer of record is Fairfield Bear Creek LP and the seller, Buchanan Partners. Chris Colombe and John St. Clair, both of Henry S. Miller Commercial, represented the buyer. Bud Hudgins of Great Spirit Realty acted on the seller's behalf.
The Villages at Bear Creek, which boasts a 90% occupancy, is located at the intersection of Interstate 360 and Texas 183. In previous GlobeSt.com interviews, executives said that Fairfield will add upward of 600 class A apartments will be added to the 3,000 plus that already exist in the development. In late June, Fairfield closed on a 14-acre buy and disclosed plans to acquire the extra land for its second multifamily project in the Villages. In 1999, Fairfield built a 436-unit complex and then turned around and sold it. Fairfield is one of a handful of multifamily developers to bring out multifamily projects in the community, which has been under development for eight years by San Ramon, CA-based Bennett Realty.
In a Henry S. Miller Commercial land deal, Colombe and Ray Utley have the final signatures on a 183-acre purchase. Continental Homes recently has taken title to Summit Parc from HSM Devco.
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