HLC Equity, a national real estate investment group and property manager based in Canonsburg, Penn., has purchased the Windscape Apartments, a 154-unit, garden-style community in Grand Prairie.
HLC Equity partnered with Mosaic Realty Partners, which will co-manage the property along with an HLC Equity affiliate. Windscape is at 3099 Parham Drive.
“Windscape is a fantastic property that we found to be attractive due to its advantageous location in one of the world’s most prosperous and fastest-growing metropolitan areas,” said Daniel Farber, executive vice president of HLC Equity.
Fort Worth investors buy Arlington shopping center
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Tailwind Real Estate Equities in Fort Worth has closed the purchase of the Courtside Village Shopping Center along Interstate 20 in Arlington.
The 39,412-square-foot center, which sits on 4.1 acres at 5900 I-20, was sold by SA 1000 Oaks I Ltd. in Austin. It was bought by Tailwind Courtside Retail Llc.
The center, which has Tuesday Morning, Nova Medical Legacy Village salon and Geico as tenants, was 95 percent leased at the time of the sale in December.
J. Searcy with Tailwind Real Estate Equities represented the buyer. Trip Green with The Woodmont Co. represented the seller.
Fewer Fort Worth-Arlington homes underwater
In Fort Worth-Arlington, 10,152, or 2.6 percent of all residential properties with a mortgage, were in negative equity at the end of the third quarter of 2014, according to CoreLogic, a real estate analytics firm.
That compares with 2.7 percent, or 10,359 properties, in the second quarter.
An additional 1.1 percent, or 4,228 residential properties, were in near negative equity for the third quarter compared with 1.2 percent, or 4,537, in second quarter, CoreLogic said.
Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on the mortgages than their homes are worth.
Nationwide, the number of mortgaged residential properties with equity was 44.6 million, or 90 percent.
CoreLogic estimates that about 5.1 million homes, or 10.3 percent of all residential properties with a mortgage, were still in negative equity as of the third quarter, compared with 5.4 million homes, or 10.9 percent, for the second quarter of 2014.
Arlington firm starts new investment funds
Arlington-based SkyWalker Property Partners has launched a pair of investment funds to buy office, industrial and retail projects in Texas and surrounding states.
The funds — When Opportunity Knocks and Cash Flow Fever — will range from $10 million to $20 million with an investment horizon of seven years.
“We are filling an investment need for our friends and property partners,” said Gary Walker, SkyWalker’s founder and president.
4101 William D. Tate Ave., Grapevine
CNN Mortgage Group leased 3,930 square feet of office space. Jim Kelley with Champions DFW Commercial Realty represented the landlord.
620 N. Kimball Ave., Southlake
Pinnacle Financial Group has leased 2,249 square feet of office space. Jim Kelley with Champions DFW Commercial Realty represented the landlord.
1130 Blue Mound Road, Fort Worth
Luis Jimenez trailer manufacturing leased 8,000 square feet. Jim Eaton with Ron Sturgeon Real Estate represented the landlord.
5524 Midway Road, Fort Worth
Norma Stone’s Wholesale Floral has leased 2,250 square feet. Jim Eaton with Ron Sturgeon Real Estate represented the landlord.
Sandra Baker, 817-390-7727