REBusinessOnline

MedCore Partners to Develop 65,000 SF Medical Office Asset in Dallas

DALLAS — MedCore Partners, a Dallas-based developer specializing in healthcare and seniors housing properties, will develop a 65,000-square-foot medical office building in Dallas. The Class A property will be located on the Texas Health Harris Methodist Hospital Alliance campus and will house an ambulatory spine surgery center operated by Spine Team Texas. The building is expected to be ready for occupancy during the first quarter of

Majestic Realty Begins Work on 535,113 SF Industrial Project in Kyle, Texas

KYLE, TEXAS — Majestic Realty Co. has begun work on Kyle Crossing Business Park, a two-building, 535,113-square-foot industrial project in Kyle, a city located off Interstate 35 in between Austin and San Antonio. The first building will total 307,840 square feet and feature 36-foot clear heights, 89 dock-high doors, 383 auto parking spaces and 136 trailer parking spaces. The second building will span 227,273 square feet and feature 32-foot clear heights, 56 dock-high doors, 269 auto parking …

JMC Holdings Acquires 410,000 SF Office Tower in North Dallas

DALLAS — New York City-based investment firm JMC Holdings LLC has acquired Lakeside Square, a 410,000-square-foot office tower located along the Lyndon B. Johnson Freeway in north Dallas. The Class A, 18-story property was built in 1985 and offers amenities such as a fitness center, a deli and multiple conference rooms. JMC Holdings will invest more than $20 million in capital improvements to the building. The seller was California-based Younan Properties. The sales price was not

Koontz Corp. Breaks Ground on 328-Unit Apartment Community in San Antonio

SAN ANTONIO — Koontz Corp., a San Antonio-based developer, has broken ground on Palmetto Pointe, a 328-unit apartment community in San Antonio. The community will be situated on 15.2 acres on the northwest side near the city’s two largest private employers, USAA and South Texas Medical Center. Floor plans call for one- and two-bedroom units. Koontz aims to complete the entire 13-building complex in approximately 24 months. The leasing office and clubhouse are expected to open in July 2019, …

Arel Capital Completes Renovation of Hurricane-Damaged Multifamily Property in Houston

HOUSTON — New York City-based Arel Capital has completed the $10 million renovation of Bayou on the Bend, a 242-unit high-rise multifamily property in Houston. The project upgraded 152 units that were damaged by Hurricane Harvey, as well as both the interior and exterior amenity spaces. Arel Capital acquired Bayou on the Bend in May 2017, three months before the storm. The property features one-, two- and three-bedroom units and amenities such as a pool, business center and a game …

Marketing Firm Signs 241,931 SF Industrial Lease in South Dallas

DALLAS — Taylor Communications, a provider of labels, packaging and corporate branding services, has signed a 241,931-square-foot industrial lease at 8700 Autobahn Drive in south Dallas. The lease represents an expansion from the company’s previous footprint of 220,110 square feet. John Gorman and Canon Shoults of Holt Lunsford Commercial represented the landlord, TA Associates, in the lease negotiations. Ann Huntington of CBRE represented the

Will Fed Hit Pause Button on Rate Hikes In Wake of November Jobs Report?

The U.S. economy added 155,000 jobs in November, according to the Bureau of Labor Statistics (BLS), falling well short of the consensus forecast of 195,000 jobs. Still, November marked the 98th consecutive month of employment gains. Meanwhile, the unemployment rate held steady at 3.7 percent, while year-over-year wage growth registered 3.1 percent, one of the highest rates of the cycle. Given the recent volatility in the stock market, the shrinking spread between the two- and 10-year …

Greystone Provides $31.5M Bridge Loan for Skilled Nursing Facility Portfolio in Texas

NEW YORK — New York-based Greystone has provided a $31.5 million bridge loan for four skilled nursing facilities located across Texas. The undisclosed borrower is using the loan proceeds to refinance Heritage Oaks Residence & Rehabilitation Center, a 204-bed facility in Arlington, and the 202-bed Quality Care of Waco in Waco. The funds will allow the borrower to expand clinical services at the two properties. Two other facilities, the 186-bed Westview Manor & Rehabilitation Center in …

JLL Negotiates Sale of 164-Unit Multifamily Property in San Antonio

SAN ANTONIO — JLL has negotiated the sale of Whispering Hills, a 164-unit multifamily property located in northeast San Antonio. According to apartments.com, the property was built in 1983 and features one-, two- and three-bedroom units. Amenities include a pool, business center, outdoor picnic areas and a dog park. Moses Siller and Zar Haro of JLL represented the seller, Houston-based Triad Real Estate Consulting Group, in the transaction. The buyer was GVA Pro

Southern Properties Acquires 144-Unit Apartment Community in Beaumont

BEAUMONT, TEXAS — Southern Properties Capital, a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI), has acquired Chelsea Apartments, a 144-unit multifamily community in Beaumont. Built in 1999, the property offers one-, two- and three-bedroom units ranging in size from 618 to 1,239 square feet, as well as a pool, business center and a clubhouse. The seller was not

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