PLANO, TEXAS — JLL has arranged a $45 million Fannie Mae loan for the acquisition of Windhaven Park Apartments, a 474-unit multifamily community located in the northern Dallas suburb of Plano. The property features two pools, a pet park, soccer field, volleyball court and community clubhouse. Tim Leonhard and Chris Crump of JLL arranged the loan on behalf of BSR Trust, an Arkansas-based multifamily operator.
FLOWER MOUND, TEXAS — Greystar is developing Elan Flower Mound, a mixed-use community that will be situated on 13 acres in the northern Dallas-Fort Worth (DFW) metro of Flower Mound. The property will feature 426 apartments ranging in size from 493 to 1,558 square feet, as well as 40 townhomes ranging in size from 1,309 to 1,848 square feet. Amenities will include a theater room, pool, fitness center, dog park and bike repair area. Designed by Meeks + Partners, the project will also deliver..
FORT WORTH, ARLINGTON AND STEPHENVILLE, TEXAS — Marcus & Millichap has closed the sale of three multifamily properties totaling 351 units in the Dallas-Fort Worth (DFW) area. Catholic Charities of Fort Worth sold the 200-unit Casa apartments in Fort Worth, the 65-unit Nuestro Hogar in Arlington and the 86-unit Casa Brendan apartments in Stephenville. Collectively, the assets fetched a sales price of more than $20 million. Al Silva of Marcus & Millichap represented the seller and..
HOUSTON — Westmount Realty Capital has acquired Copper Mill, a 234-unit multifamily community located at 15910 FM 529 in northwest Houston. Built in 1983, the property features one- and two-bedroom units and amenities such as a pool, fitness center, business center and dog park. The property, which was 98 percent occupied at the time of sale, will be rebranded as Westmount at Copper Mill. The seller was not disclosed.
FORT WORTH, TEXAS — Mercedes-Benz Financial Services USA LLC has signed a 200,000-square-foot office lease at AllianceTexas in Fort Worth. Mercedes-Benz Financial has operated out of Alliance Texas, an 18,000-acre, master-planned community owned by Hillwood, since 2007, and this move increases the overall size of the company’s footprint in Fort Worth. The new, build-to-suit property will serve as the company’s national business operations center and is scheduled to open in 2019.
SHERMAN, TEXAS — Finisar, a California-based manufacturer of optical communications components used in Apple products, will open a 700,000-square-foot, previously shuttered manufacturing plant in Sherman. Funding for the project stems from a $390 million grant provided by Apple Inc. The awarding of the grant will enable Finisar, which already operates a plant in Allen, to increase its research and development spending and up its production of vertical-cavity surface-emitting lasers (VCSELs),..
DALLAS — Square Mile Capital Management LLC has originated a $118 million loan for Renaissance Tower, a 56-story office tower comprising more than 1.7 million square feet of space in downtown Dallas. The loan, a portion of which was sold to Bank of the Ozarks, will be used to repay existing CMBS debt and bridge the property through stabilization. The borrower was a joint venture between two New York-based firms: SMA Equities and The Moinian Group. Whitaker Johnson and Steve Heldenfels of HFF..
GRAND PRAIRIE, TEXAS — Swedish furniture retailer IKEA has opened a 290,000-square-foot store in Grand Prairie. The store is the company’s fourth location in Texas, with plans to open stores in the San Antonio and Fort Worth areas in 2019 underway. Construction of the store created about 500 new jobs, with an additional 250 workers joining the IKEA team as it became operational.
IRVING, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has brokered the sale of a 136,000-square-foot, Tier IV-designed data center facility located at 6001 Campus Circle W. in Irving. The two-story property underwent an expansion in the 1980s that delivered an additional 94,000 square feet of space and five back-up generators totaling more than 8,100 kilowatts of power. The facility is currently configured to have a 74,500-square-foot data-raised floor, 34,000 square feet of office space..
SPRING, TEXAS — Hunington Properties Inc. (HPI) has brokered the sale of Postwood Shopping Center, a 42,232-square-foot retail center located at 5639 Treaschwig Road in the northern Houston metro of Spring. The property, which is shadow-anchored by Kroger, was built in 1985 and renovated in 2009. Current tenants include Chase Bank, State Farm Insurance, Boost Mobile and Anytime Fitness. Rafael Melara of HPI represented the seller in the transaction. Gary Smith of RCR Realty represented the..