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Arbor-Ranch-Denton
Affordable HousingDevelopmentMultifamilyTexas

NRP Group Breaks Ground on 297-Unit Affordable Housing Project in Denton, Texas

by Taylor Williams

DENTON, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Arbor Ranch, a 297-unit affordable housing project in the North Texas city of Denton. The site at 2820 Roselawn Drive spans 22 acres, and the development will consist of nine three-story buildings that will house one-, two-, three- and four-bedroom units and will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, playground, barbecue and picnic areas, children’s activity room and a community lounge, and residents will also have access to various onsite social services. Younger Partners brokered the sale of the land. Truist Bank provided a $68 million construction loan for the project. The first units are expected to be available for occupancy early next year.

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DevelopmentHospitalityTexas

NewcrestImage Completes Renovation of 296-Room Hotel in Dallas

by Taylor Williams

DALLAS — Locally based hospitality investment and management firm NewcrestImage has completed the renovation of Hotel Mockingbird, a 296-room establishment in the Highland Park area of Dallas. In addition to various property upgrades, ownership introduced two new food-and-beverage concepts: Verse Kitchen and Bar, a speakeasy-style restaurant, and Raven, which offers refined drinks and light bites. NewcrestImage acquired the Hotel Mockingbird, formerly known as the Beeman Hotel, in October 2024. Coury Hospitality manages the hotel.

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DevelopmentRetailTexas

Walmart Supercenter Opens 200,000 SF Store Within Shawnee Trail in Celina, Texas

by Taylor Williams

CELINA, TEXAS — Walmart has opened a 200,000-square-foot Supercenter store in the North Texas city of Celina. The store is located within Shawnee Trail, a 150-acre mixed-use project that is being developed by Trademark in partnership with family holding company Glendenning 1887 and the Celina Economic Development Corp. Construction of the first phase of the broader development of Shawnee Trail will begin next year and will include additional retail, restaurant and entertainment space, as well as parks and public spaces.

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IndustrialLeasing ActivityTexas

Oxford Partners Arranges 11,057 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has arranged an 11,057-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 13805 West Road was completed in 2000 and totals 61,600 square feet. Nathan Buckhoff of Oxford Partners represented the tenant, medical supplies provider Arpovo Health, in the lease negotiations. Jack Rathe and Brandon Preece of Stream Realty Partners represented the landlord, an entity doing business as Westland EPA LLC.

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Campus-at-Arboretum-Austin
AcquisitionsDevelopmentOfficeTexas

PacVentures, AQUILA Buy 318,000 SF Office Complex in Northwest Austin, Plan Upgrades

by Taylor Williams

AUSTIN, TEXAS — A joint venture between San Diego-based investment firm PacVentures Inc. and Austin-based AQUILA Commercial has purchased The Campus at Arboretum, a five-building, 318,000-square-foot office complex in northwest Austin with plans to implement capital improvements. Upgrades will cover the fitness center, tenant lounge and conference facilities, and the new ownership also plans to refresh lobbies and restrooms, update lighting and security and enhance outdoor areas throughout the campus. The seller and sales price were not disclosed.

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The-Westermark-Sugar-Land-Texas
DevelopmentLoansMultifamilyTexas

Patterson Arranges Construction Loan for 165-Unit Multifamily Project in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Patterson Real Estate Advisory Group, a regional financial intermediary has arranged a construction loan for The Westermark, a 165-unit multifamily project that will be located in the southwestern Houston suburb of Sugar Land. The amount was not disclosed. The Westermark will consist of two five-story buildings that will house studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, resident lounge and coworking space. Wintrust Commercial Real Estate provided the loan to the developer, Elm Real Estate Group, which is an affiliate of Indianapolis-based KCG Cos.

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Leasing ActivityRetailTexas

Academy Sports + Outdoors to Open 130,000 SF Store in Fairview, Texas

by Taylor Williams

FAIRVIEW, TEXAS — Academy Sports + Outdoors will open a 130,000-square-foot store in Fairview, a northeastern suburb of Dallas. The retailer will backfill a former Macy’s store at Fairview Town Center, a 921,075-square-foot power center that first opened in 2009. Thomas Glendenning of SHOP Cos. negotiated the lease on behalf of the Fairview Economic Development Corp. Remodeling of the space is underway, and Academy expects to open its doors in the coming weeks.

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IndustrialLeasing ActivityTexas

Social Llama Events Signs 50,508 SF Industrial Lease in West Dallas

by Taylor Williams

DALLAS — Social Llama Events has signed a 50,508-square-foot industrial lease in West Dallas. The locally based experiential event design and production company will use the entirety of the space at 4919 Woodall St. for office, storage and fabrication purposes. Lena Thomas of Stream Realty Partners represented the landlord, Dallas-based developer M2G Ventures, in the lease negotiations. Social Llama was self-represented.

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Azalea-District-Valley-Ranch-New-Caney
DevelopmentMixed-UseTexas

Signorelli Breaks Ground on 328-Acre Mixed-Use Expansion Project in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — Signorelli Co. has broken ground on a 328-acre mixed-use expansion project at Valley Ranch, the developer’s master-planned community in the northeastern Houston suburb of New Caney. Known as the Azalea District, the project will consist of a residential component of 359 single-family homes across 203 acres and a commercial component that will primarily feature healthcare uses across 125 acres. Additional uses within the commercial component could include retail, restaurant and hospitality in addition to other wellness-themed amenities. The first phase of development will include 156 single-family homes by First America Homes that are scheduled to be delivered this summer.   

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Domain-Memorial-Houston
LoansMultifamilyTexas

Mesa West Capital Provides $81M Loan for Refinancing of Houston Multifamily Property

by Taylor Williams

HOUSTON — Mesa West Capital has provided an $81 million loan for the refinancing of Domain Memorial, a 313-unit multifamily property in Houston. Built on a 12.7-acre site in 2016 in the Briar Forest/West Memorial submarket, Domain Memorial offers one-, two- and three-bedroom townhome-style units with an average size of 1,300 square feet that are housed across 29 buildings. Amenities include a pool, fitness center and a clubhouse. The borrower, Dallas-based Knightvest Capital, will use a portion of the proceeds of the five-year, floating-rate loan to complete interior renovations. Domain Memorial is currently 95 percent occupied.

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