Multifamily

The $51.74 million sale of Avocet Apartments, a 336-unit multifamily property, recently closed in this fast-growing and affluent westside area at 11340 Alamo Ranch Pkwy. in San Antonio.

The Rockefeller Group last year acquired three buildings to demolish and to construct a new development at 30-36 E. 29th St.

The property achieved an average annualized return of approximately 23% and generated a gain on sale of approximately $12.4 million.

KREF closed on a $172-million floating-rate senior loan secured by two class-A office buildings totaling 343,000 square feet in Seattle.

The Aventura, FL-based investment firm has been very active of late and marks the firm's third significant acquisition so far this year.

Maracay officials say the firm intends to close on the third and last land purchase of 80 acres and 240 homesites in Chandler in early 2019.

With a 200-person waiting list, Preston Trace is one of only three affordable housing properties in Frisco, attracted a tremendous amount of interest from investors and ultimately sold above asking price.

What had been a moribund downtown now throbs with life each workday, and that activity has also spurred a multifamily development boom.