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Texas

DIG Closes Sale of 196,630 SF Retail Power Center in Metro Dallas

LEWISVILLE, TEXAS — Disney Investment Group (DIG) has closed the sale of Lakepointe Towne Crossing, a 196,630-square-foot retail power center located at 709-735 Hebron Parkway in the Dallas metro of Lewisville. Anchored by Ross Dress for Less and Party City and shadow-anchored by Super Target, the property was 62 percent leased at the time of sale. DIG represented the seller, Retail Properties of America, in the transaction and procured the undisclosed buyer.

September 21, 2017

Baker Katz Negotiates 41,500 SF Lease for AMC Theatres in Shenandoah, Texas

SHENANDOAH, TEXAS — Baker Katz has negotiated a 41,500-square-foot lease in Shenandoah, about 30 miles north of Houston, on behalf of AMC Theatres. The new, 10-screen theater will anchor the 69-acre MetroPark Square development, which is situated along Interstate 45 Frontage Road south of State Highway 242. Steve Greenberg of The Retail Connection represented the landlord in the lease negotiations. The theater is scheduled to open in early 2018.

September 21, 2017

HFF Arranges $121.6M Loan for Redevelopment of Apartment Tower in Houston

HOUSTON — HFF has arranged a $121.6 million floating-rate bridge loan for the redevelopment of The Star, a multifamily development located in downtown Houston. Upon completion, the property will feature 286 multifamily units, 26,000 square feet of retail space, 8,000 square feet of storage space and 672 parking spaces. Steve Heldenfels and Matthew Putterman of HFF arranged the loan through TPG RE Finance Trust on behalf of the borrower, Provident Realty Advisors.  

September 20, 2017

Lidl Buys 5.2 Acres in San Antonio for 30,000 SF Grocery Store

SAN ANTONIO — German discount grocery chain Lidl has purchased a 5.2-acre site at the intersection of Alamo Ranch and Lone Star parkways in San Antonio for the development of a 30,000-square-foot location. Construction of the property is expected to begin during the fourth quarter and wrap up during the third quarter of 2018. Gene Williams of CBRE represented the seller, Abiso Development, in the land sale. Gensler will serve as the project architect and Metropolitan Contracting as the..

September 20, 2017

Arch Street Brokers Sale of 417-Unit Apartment Community in Metro Dallas

EULESS, TEXAS — Arch Street Capital Advisors, a Connecticut-based investment advisory firm, has brokered the sale of Suite 2801, a 417-unit apartment community located in the Dallas metro of Euless. Built in 2013, the Class A property offers a mix of one-, two- and three-bedroom units and amenities such as two pools, a fitness center and a residential clubhouse. Arch Street represented the buyer, a joint venture between an institutional investor and Atlanta-based Cortland Partners, in the..

September 20, 2017

Stream Negotiates 15,198 SF in Office Leases in Dallas

DALLAS — Stream Realty Partners has negotiated two office leases totaling 15,198 square feet at 5050 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Jackie Smith of Stream represented the landlord, New York-based DRA Advisors, in its lease negotiations with the new tenants, Josh DeShong Real Estate and law firm Pratt, Aycock & Associates PLLC. The two firms will occupy the sixth floor of the building, which DRA Advisors recently renovated to feature an on-site fitness center,..

September 20, 2017

Titan Developers Acquires 25,000 SF Flex Property in Metro Austin

CEDAR PARK, TEXAS — Titan Developers has acquired a 25,000-square-foot office/industrial property within Scottsdale Crossing Phase III, located at 1505 Volta Drive in the Austin metro of Cedar Park. Matt Levin of Equitable Commercial Realty (ECR) represented Titan in the transaction. The seller, TIG, was represented internally by Tom Pardee.  

September 20, 2017

HFF Arranges Refinancing of 1.2 MSF Office Tower in Houston

HOUSTON — HFF has arranged an undisclosed amount of refinancing for 700 Louisiana, a 56-story, a 1.2 million-square-foot office tower in Houston’s CBD. Cameron Cureton and John Brownlee of HFF arranged the funds on behalf of the borrower, a joint venture between Houston-based investment firm M-M Properties and an institutional capital partner. The property was 90 percent leased at the time of the loan closing. The borrower will use the funds to reconfigure the lobby and incorporate an..

September 19, 2017

Greatland Investments to Develop 4,000 SF Retail Property in Houston

HOUSTON — Houston-based retail developer Greatland Investments Inc. will develop a 4,000-square-foot, Class A retail property at 3215 White Oak Drive in Houston’s The Heights neighborhood. The property currently houses a car wash, the lease of which will expire at year’s end, as well as a multifamily rental complex and a single-family home. NewQuest Properties is handling leasing of the development, construction of which is slated to begin during the first quarter of 2018.  

September 19, 2017

Hunt Mortage Secures $20.5M Refinancing for Two Multifamily Assets in Metro Austin

ROUND ROCK AND SAN MARCOS, TEXAS — Hunt Mortgage Group has secured $20.5 million in refinancing for two garden-style multifamily properties totaling 324 units in metro Austin. The company secured a $13.8 million loan for the 168-unit Red Hills Villas in Round Rock and a $6.7 million loan for the 156-unit Champion’s Crossing Apartments in San Marcos. Both Freddie Mac loans feature seven-year terms, 24 months of interest-only payments and 30-year amortization schedules. Hunt Mortgage secured..

September 19, 2017