Texas People & Companies, August 15, 2025

Texas People & Companies, August 15, 2025
News| August 14, 2025| Mike Boyd
Texas + Apartment Buildings
  • Marcus & Millichap (NYSE: MMI) announced today the sale of a 57-room Comfort Suites hotel property in Galveston, Texas. Skyler Cooper, investment specialist in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller. Built in 2007, the property offers amenities such as a lounge/bar, outdoor pool, whirlpool, meeting space, fitness center and business center.
  • The Texas Affiliation of Affordable Housing Providers (TAAHP) announced the appointment of Meghan Cano as president of its board of directors, making Cano the organization’s first TAAHP leader who is a former resident of a low-income housing facility. As CEO of CHR Partners – a San Antonio-based non-profit that provides social services to more than 15,000 Texas families each month – Cano brings more than 20 years of experience in affordable housing finance and advocacy.
  • CBRE’s Debt & Structured Finance team has added Andy Scott, Michael Cosby and Kris Lowe as Vice Chairs, an industry-leading team with more than 50 years of combined commercial real estate finance experience. The team closed transactions totaling more than $60 billion throughout their careers. Cosby, Lowe and Scott will focus on expanding CBRE’s Debt & Structured Finance capabilities across Texas by originating and executing debt and equity placement transactions across all property types, with a particular emphasis on multifamily assets. 
  • Marcus & Millichap brokered the sale of Conroe Shopping Center, an 18-suite retail property in Conroe, Texas. Bill Dang and Justin Miller, investment specialists in Marcus & Millichap’s Houston office, procured the buyer, a Houston-based investor. Conroe Shopping Center, built in 2004, is a 51,030-square-foot, Kroger shadow-anchored strip center located at 2218 Interstate 45 N.
  • Montecito Medical Real Estate, one of the largest privately held acquirers of medical real estate in the country, is seeking a VP of Transactions in Nashville, TN.  This role is critical to managing all aspects of the real estate acquisition process and will bring strong experience in due diligence, transaction management, and financial analysis, with a track record of coordinating with cross-functional teams. The ideal candidate will have 5-7 years’ experience in commercial real estate acquisitions (healthcare preferred). Executive search firm RETS Associates is handling the search. Inquiries and resumes can be sent to Mandy Haines at [email protected].

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One Beverly Hills Reaches Milestones Ahead of Schedule

California & West + Apartment Buildings

The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...

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Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion

New York & Tri-State + Apartment Buildings

Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...

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Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor

Apartment Buildings

Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...

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