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Harper's-Mill-Houston
AcquisitionsMultifamilyTexas

Berkadia Brokers Sale of 180-Unit Apartment Complex in Northwest Houston

by Taylor Williams

HOUSTON — Berkadia has brokered the sale of Harper’s Mill, a 180-unit apartment complex in northwest Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, business center, picnic areas and a playground. Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel, Jed Dalton and Tucker Fama of Berkadia represented the seller, Colorado-based investment firm InterUrban Cos., in the transaction. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and Kyle Ryan, also with Berkadia, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, Miami-based 12ten Capital.

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2651-Leah-Ave.-San-Marcos
DevelopmentIndustrialTexas

Triten Real Estate to Develop 175,000 SF Industrial Project in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS —Houston-based owner-operator Triten Real Estate Partners will develop a 175,000-square-foot industrial project at 2651 Leah Ave. in San Marcos, located roughly midway between Austin and San Antonio. The 12-acre site is located less than a mile from I-35, and the shallow-bay building features suites with an average size of 11,000 square feet, as well as 28-foot clear heights, 140-foot truck court depths and both dock-high and grade-level loading doors. Construction is scheduled to begin before the end of the year and to be complete in mid-2027.

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Data CentersDevelopmentIndustrialLoansTexas

Lone Star PACE Provides $11.6M C-PACE Loan for Data Center Conversion Project in Irving

by Taylor Williams

IRVING, TEXAS — Lone Star PACE has provided an $11.6 million C-PACE (Commercial Property Assessed Clean Energy) loan for a data center conversion project in Irving. The project centers on the conversion of the vacant, 113,406-square-foot industrial flex building at 6001 Campus Circle Drive W, which was built on 4.7 acres in 1981, into Vesgro Data Center, a colocation facility with a 45,000-square-foot data hall and 3.0 megawatts of power capacity. The borrower is local data center developer Infrascale Systems. Construction is underway and expected to be complete in September.

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AcquisitionsMultifamilyTexas

MMG Real Estate Arranges Sale of 142-Unit Apartment Complex in Norman, Oklahoma

by Taylor Williams

NORMAN, OKLA. — Regional brokerage firm MMG Real Estate Advisors has arranged the sale of Sterling Park, a 142-unit apartment complex in Norman, home of the University of Oklahoma. The property offers one- and two-bedroom units and amenities such as a pool, fitness center and outdoor grilling and dining areas. Colton Howell, Stuart Krous and Thomas Skevington of MMG brokered the deal, which involved the assumption of the property’s existing loan. The buyer and seller were not disclosed.

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Katy-Prairie-Business-Park
AcquisitionsIndustrialTexas

National Property Holdings Unveils Plans for 1.1 MSF Industrial Park in Katy, Texas

by Taylor Williams

KATY, TEXAS — Regional developer National Property Holdings has unveiled plans for a roughly 1.1 million-square-foot industrial park in the western Houston suburb of Katy. Katy Prairie Business Park will be developed in two phases, each of which will comprise a single building that will be able to support manufacturing and logistics users. The Phase I building will total 402,480 square feet, and the Phase II building will total 680,940 square feet. Building features will include 36- and 40- foot clear heights, ESFR sprinkler systems, onsite trailer parking and “flexible” configurations. CBRE has been tapped as the leasing agent for Katy Prairie Business Park. A construction timeline was not announced.

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AcquisitionsRetailTexas

JLL Negotiates Sale of 441,620 SF Retail Power Center in Cedar Park, Texas

by Taylor Williams

CEDAR PARK, TEXAS — JLL has negotiated the sale of 1890 Ranch, a 441,620-square-foot retail power center in Cedar Park, a northern suburb of Austin. The center was 99 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree. Barry Brown, Chris Gerard and Shea Petrick of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Chris Drew, Michael DiCosimo and Aaliyah St. Louis, also with JLL, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, a joint venture between Sterling Organization and Cohen & Steers.

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DevelopmentOfficeTexas

Gillett Commercial to Develop Spec Office, Flex Building in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — Local developer Gillett Commercial will build a speculative office and flex building in Allen, a northeastern suburb of Dallas. Known as Allen Place, the building is initially planned to be 89,032 square feet, comprising a 71,032-square-foot footprint plus an 18,000-square-foot mezzanine level that can be expanded by 20,000 square feet, offering up to 109,032 total square feet. Meinhardt & Associates is the project architect, and Raymond Construction will be the general contractor. Citadel Partners will market the space for lease. Gillett is developing the project, construction of which is set to start later this year and last about year, in partnership with the Allen Economic Development Corp.

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IndustrialLoansTexas

IPA Arranges $15.4M in Financing for Dallas Industrial Property

by Taylor Williams

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $15.4 million in financing for a 60,159-square-foot industrial property in Dallas. The address was not disclosed, but the property is leased to PREP, an operator of shared commercial kitchen spaces. Frank Montalto and Ethan Splan of IPA arranged the five-year loan, which carried a 75 percent loan-to-value ratio, through an undisclosed local credit union. The borrower was also not disclosed.

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The-Lariat-at-Abilene
DevelopmentLoansMultifamilyTexas

Dwight Capital Provides $66M HUD-Insured Construction Loan for Abilene Multifamily Project

by Taylor Williams

ABILENE, TEXAS — New York City-based Dwight Capital has provided a $66 million HUD-insured construction loan for The Lariat at Abilene, a 312-unit multifamily project in West Texas. Situated on 13 acres, the garden-style property will comprise 13 three-story buildings that will house 186 one-bedroom units and 126 two-bedroom units, as well as a clubhouse building. Amenities will include a pool, fitness center, pickleball court and outdoor grilling and dining areas. Brandon Baksh and Tommy Ng of Dwight originated the financing through HUD’s 221 (d)(4) program on behalf of the borrower, Martin Inderman Development.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Negotiates Sale of 165-Unit Self-Storage Facility in Mansfield, Texas

by Taylor Williams

MANSFIELD, TEXAS — Marcus & Millichap has negotiated the sale of Premium Storage, a 165-unit self-storage facility in Mansfield, located southeast of Fort Worth. The facility offers 12 climate-controlled units, 107 covered parking spaces and 46 uncovered parking spaces for a total of 47,891 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local owner-operator, in the transaction, and procured the buyer, a Midwest-based investment group. Both parties requested anonymity.

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