INDUSTRY NEWS PRAEDIUM GROUP ACQUIRES 347-UNIT NORRA APARTMENTS Amenities include a pool, fit -ness center, spa, picnic area, pet play area and a courtyard. Mat -thew Jacocks of Lee & Associates represented the buyer, Miami-based GDF Properties. The seller was Harbert Management Corp FEICA/Holly Hall LLC. Seth Den -ison, also with Lee & Associates, arranged acquisition financing. LEWISVILLE, TEXAS — The Praedi-um Group, a New York City-based investment firm, has acquired Norra, a 347-unit apartment com -munity located in the northern Dallas suburb of Lewisville. The newly built property offers one-, two-and three-bedroom units that feature stainless steel appliances, quartz countertops, vinyl plank flooring and full-sized washers and dryers. Communal amenities include a pool, fitness center, clubhouse, work lounge, recreational lounge with a kitchen, dog park and a package locker system. The seller/ developer of Norra was not dis-closed. New York Life Real Estate Investors, a division of New York Life Insurance Co., provided ac -quisition financing for the deal. Monthly rents range from $1,300 to $2,500. NEWMARK ARRANGES SALE OF 316-UNIT ESTATES AT BEE CAVE APARTMENTS The Praedium Group has acquired Norra, a 347-unit apartment community in Lewisville. LEE & ASSOCIATES ARRANGES SALE OF HOLLY HALL APARTMENTS S2 CAPITAL BUYS 1,893-UNIT MULTIFAMILY PORTFOLIO HOUSTON — Lee & Associates has arranged the $58 million sale of Holly Hall Apartments, a 569-unit multifamily community in Houston. The sales price equates to roughly $102,000 per unit. The property is located on an 18.5-acre site near NRG Stadium and Texas Medical Center. Units range in size from 598 to 1,354 square feet and are furnished with custom cabine -try, granite countertops and indi -vidual washers and dryers. DALLAS — Investment firm S2 Capital has purchased a portfolio of four multifamily properties to-taling 1,893 units, including three in the Dallas-Fort Worth (DFW) metroplex and one in Austin. The properties are Hyde Park at Mont-fort in Dallas (662 units); Twin Creeks Crossing I (347 units) and Twin Creeks Crossing II in Allen (330 units); and Tintara at Canyon Creek in Austin (554 units). Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq repre -sented the undisclosed seller in the transaction. Jeff Erxleben, Lauren Bresky, Kevin Leamy and Loren Heikenfeld, also with NorthMarq, arranged an undisclosed amount of floating-rate debt on behalf of S2 Capital. The new ownership plans to invest in capital improvements to Tintara at Canyon Creek and Hyde Park at Montfort. BEE CAVE, TEXAS — Newmark has arranged the sale of Estates at Bee Cave, a 316-unit multifamily prop -erty in the Austin area. Units fea -ture one-, two-and three-bedroom floor plans and are furnished with stainless steel appliances, granite countertops and individual wash -ers and dryers. Amenities include a pool, fitness center, business center, game room, cyber lounge and a demonstration kitchen. Pat -ton Jones and Andrew Dickson of Newmark represented the seller, Internacional, in the transaction. The buyer was an affiliate of New York City-based Abacus Capital Group. NITYA CAPITAL ACQUIRES 2,555-UNIT MULTIFAMILY PORTFOLIO FROM RAVEN MULTIFAMILY BERKADIA ARRANGES ACQUISITION FINANCING FOR 1,275-UNIT MULTIFAMILY PORTFOLIO AFFORDABLE HOUSING FINANCE Pre-Development Lines • Land Acquisitions Construction Financing • Permanent Mortgages LEGACYBANKANDTRUST.COM | 417-429-0122 HOUSTON — Berkadia has ar-ranged an undisclosed amount of acquisition financing for a portfo -lio of five multifamily properties totaling 1,275 units in the West -wood and Braeswood/Fondren submarkets in southwest Houston. The properties — Airport Cross-ing, The Townhomes, Terrace at West Sam Houston, Casa Grande and Plaza at Hobby Airport — were all built between 1976 and 1983. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia arranged the financing through Voya Investment Manage -ment on behalf of the borrower, New York-based July Residential. The debt was structured with a four-year term, a 75 percent loan-to-value ratio and provisions for funding capital expenditures. HOUSTON — Houston-based in-vestment firm Nitya Capital has acquired a portfolio of nine mul -tifamily properties totaling 2,555 units that are located in six dif -ferent cities within the DFW me -troplex. Nitya Capital, which acquired the portfolio from Hous -ton-based firm Raven Multifamily, plans to upgrade the properties with about $15 million in capital improvements to unit interiors and amenity spaces. Taylor Snod -dy, James Roberts and Phillip Wie -gand of NorthMarq brokered the sale. Steve Whitehead and William Hancock, also with NorthMarq, ar -ranged an undisclosed amount of floating-rate acquisition financing on behalf of the new ownership. Pictured is Xander, a 332-unit community in Fort Worth and one of nine multifamily properties in Nitya Capital’s newly acquired portfolio. www.REBusinessOnline.com 8 | Texas Multifamily & Affordable Housing Business | September/October 2021