DALLAS AND HOUSTON — Newmark has arranged the recapitalization of a portfolio of five seniors housing properties totaling 1,546 units that are located throughout the Dallas and Houston areas. The properties include: The Tradition-Clearfork in Fort Worth, The Tradition-Lovers Lane and The Tradition-Prestonwood in Dallas, and The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston. The properties offer independent living, assisted living and memory care services and had a combined occupancy rate of about 96 percent at the time of the recapitalization. Chad Lavender, Ryan Maconachy, Sarah Anderson, Mills Poynor and Ben McElroy of Newmark worked on behalf of the owner, Tradition Senior Living, to secure a joint venture equity investment from Kayne Anderson Real Estate. Newmark also arranged new financing for the portfolio.
BROOKSHIRE, TEXAS — JLL has negotiated the sale of Twinwood Distribution Center III, a 767,520-square-foot industrial building in the western Houston suburb of Brookshire. Built in 2024, the property features 40-foot clear heights, 179 dock-high doors, 185-foot truck court depths and approximately 2,600 square feet of office space. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings of JLL represented the seller, local owner-operator, Clay Development & Construction Inc., in the transaction. The buyer was Bridge Logistics Properties. Twinwood Distribution Center III was fully leased at the time of sale to an undisclosed provider of logistic services.
FREDERICKSBURG, TEXAS — Houston-based developer DC Partners has topped out a 210-room hotel in the Central Texas city of Fredericksburg that will be operated under IHG Hotels & Resorts’ Kimpton brand. Designed by Merriman Anderson Architects with interiors by Curioso, the Kimpton Fredericksburg will be located within The Meuse, a 22-acre mixed-use development. The property will feature a full-service restaurant and bar, along with a poolside bar and lounge. Additional amenities will include a 10,000-square-foot outdoor pool and deck, fitness center, café and 18,500 square feet of indoor/outdoor meeting and event space. Construction began last summer. The opening is scheduled for 2027.
WICHITA FALLS, TEXAS — Marcus & Millichap has brokered the sale of Parker Square Shopping Center, a 94,532-square-foot retail center in Wichita Falls, about 115 miles northwest of Fort Worth. Crunch Fitness anchors the center, which was built in 1955 and was 97 percent leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
RED OAK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Emerson at Red Oak, a 306-unit apartment community in Red Oak, a southern suburb of Dallas. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 904 square feet, as well as amenities including a pool, fitness center, picnic and grilling areas, dog park, game room and a business center. Joey Tumminello, Michael Ware, Drew Kile and Taylor Hill of IPA represented the seller, CESM Real Estate, in the transaction and procured the buyer, Professional Equity Management.
HOUSTON — A partnership between local developer Hanover Co. and Transwestern Investment Group (TIG) has completed Kirby 288, a 213,425-square-foot speculative industrial project in South Houston. The development features a cross-dock configuration, 36-foot clear heights and excess trailer storage. Powers Brown designed the project, and Kimley-Horn acted as the civil engineer. Colliers is the leasing agent. Construction began in August 2025.
DALLAS — JLL has brokered the sale of Pavilion on Lovers Lane, a 113,823-square-foot shopping center in North Dallas. Built in 1986, expanded in 2006 and renovated in 2023, the two-building center was 99 percent leased at the time of sale to tenants such as Eatzi’s, Odelay, Stay Fit Studios and La La Land Café. Barry Brown and Erin Myer of JLL represented the seller, Dallas-based Corrigan Investments, in the transaction. Wally Reid, Kristi Leonard and Luke Rogers, also with JLL, arranged acquisition financing for the deal. The buyer and direct lender were not disclosed.
CORPUS CHRISTI, TEXAS — Mega Furniture has signed a 52,677-square-foot retail lease in Corpus Christi. The building at 4818 S. Padre Island Drive was originally constructed in 1973 and was formerly occupied by Conn’s HomePlus. Lynann Pinkham of local brokerage firm Cravey Real Estate Services represented the undisclosed landlord in the lease negotiations. Asterra Properties represented the tenant.
FORT WORTH, TEXAS — Newmark has arranged the sale of Centreport Lake, a 452-unit apartment community in East Fort Worth. Built on 24 acres in 2008, the property offers one-, two- and three-bedroom apartments with an average unit size of 946 square feet. Amenities include two pools, a dog park, business center and outdoor grilling and dining stations. Richard Furr, Brian Murphy and Brian O’Boyle Jr. of Newmark represented the seller, Marlin Spring US Realty, in the transaction. Henry Stimler and Ricky Warner, also with Newmark, arranged undisclosed amounts of acquisition financing and equity investments on behalf of the buyer, which was also not disclosed.
PEARLAND, TEXAS — Houston-based developer Welcome Group is underway on construction of Lower Kirby Business Park, a 250,000-square-foot industrial project in Pearland, located on the city’s southern outskirts. Spanning 25 acres, the project will comprise four tilt-wall buildings that will range in size from approximately 25,000 to 100,000 square feet. Each building will feature clear heights of up to 34 feet, crane-ready capabilities and flexible office buildouts. KDW is the architect for the project. Preleasing of Phase I is also underway, and completion is targeted for the second quarter of next year.
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