REBusinessOnline

Using Technology to Build Support for Affordable Housing

For developers of affordable housing, a certain amount of NIMBYism is virtually inevitable. But the contentiousness of our times has amplified the rumbling of, “not in my backyard,” into a shout. Time consumed in countering the claims and tactics of affordable housing opponents can damage or derail a developer’s plans — delaying approvals, raising costs and in some cases causing the project to be abandoned altogether. At a time when large segments of the population have been priced out …

Mission Capital Arranges Acquisition Financing for 229-Room Hotel in Amarillo

AMARILLO, TEXAS — Mission Capital Advisors has arranged an undisclosed amount of financing for the acquisition and renovation of a 229-room hotel in Amarillo. The new ownership will rebrand the property as a dual-branded asset consisting of a 106-room Marriot Fairfield Inn & Suites and a 123-room Four Points by Sheraton. Renovations will deliver upgraded amenity spaces, as well as a facelift to the property’s exterior and each guestroom. Raymond Salameh, Ari Hirt, Steven Buchwald, Alex …

Marcus & Millichap Brokers Sale of 280-Unit Apartment Community in Metro Dallas

MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of Oates Creek, a 280-unit multifamily community in Mesquite, an eastern suburb of Dallas. Built in 1984, the Class B property recently underwent $2.2 million in capital improvements that upgraded 50 percent of the unit interiors. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller and procured the buyer, both of which requested

SSR Holdings Sells 46,250 SF Industrial Building in Houston

HOUSTON — SSR Holdings LLC has sold a 46,250-square-foot industrial building located at 1414 Sakowitz St. in Houston. According to LoopNet Inc., the property was built in 1974. Robert McGee and Chase Cribbs of Lee & Associates represented SSR Holdings in the deal. Brandon Wuntch, also of Lee & Associates, represented the buyer, PDFE Vinyl

Healthcare Provider Signs 22,511 SF Office Lease in Fort Worth

FORT WORTH, TEXAS — Caregiver Inc. has signed a 22,511-square-foot office lease at 4800 Overton Plaza in southwest Fort Worth that will serve as the company’s new headquarters. Pat McDowell and David Berzina of JLL represented Caregiver Inc. in the lease negotiations. Kirk Kelly of Transwestern represented the undisclosed

PMB Capital to Develop $250M Mixed-Use Project in Metro Dallas

SACHSE, TEXAS — PMB Capital Investments, a Dallas-based development and investment firm, will develop The Station, a $250 million mixed-use destination that will be located in Sachse, a northeastern suburb of Dallas. The Station will be situated on 119 acres along President George Bush Turnpike between Miles and Merritt roads. Plans currently call for approximately 400,000 square feet of commercial and retail space, as well as 600 apartments and 250 single-family homes. The commercial …

CBRE Arranges Sale of 224-Unit Assisted Living Portfolio in Houston

HOUSTON — CBRE National Senior Housing has arranged the sale and acquisition financing for The Village Portfolio, a two-property, 224-unit assisted living portfolio in Houston. Lisa Widmier of CBRE National Senior Housing represented the institutional seller. Aron Will of CBRE National Senior Housing and Austin Sacco of CBRE National Senior Housing arranged acquisition financing on behalf of a joint venture between Bridgewood Property Co. and an institutional investor. CBRE secured two …

HFF Secures Capital for Construction of 130,000 SF Data Center in Richardson, Texas

RICHARDSON, TEXAS — HFF has arranged construction financing and joint venture equity for a 130,000-square-foot data center in Richardson’s Telecom Corridor. Cullen Aderhold, Jim Curtin and Michael Cosby of HFF closed the capital transactions on behalf of the borrower, KDC Real Estate Development & Investments. Situated at the southeast corner of North Plano Road and East Lookout Drive, the facility will be adjacent to an ONCOR substation and have access to approximately 18 fiber providers …

Adkisson Group Purchases 225 Acres Near Port of Houston for New Industrial Park

BAYTOWN, TEXAS — Adkisson Group Inc. has purchased nearly 225 acres near Baytown and the Port of Houston for the development of a new business park. Parkside Capital sold the land to Adkisson Group for an undisclosed price. The project, Bay 10 Business Park, will be situated on the west side of Grand Parkway south of Interstate 10 East. Adkisson Group will begin permitting and building several 10,000- to 30,000-square-foot freestanding buildings that will offer crane capabilities and acreage …

NorthMarq Brokers Sale of Two Multifamily Assets Totaling 391 Units in El Paso

EL PASO, TEXAS — NorthMarq Capital has brokered the sale of two multifamily assets totaling 391 units in El Paso. Las Vegas-based MKL Capital Group LLC purchased the 232-unit Indian Springs from Arizona-based Talos Holdings LLC, and a Los Angeles-based private investment firm acquired the 159-unit Desert Peaks from SCP El Paso LLC. Indian Springs offers a business center and fitness center, and Desert Peaks includes a basketball court. Both communities feature pools and dog parks. Bill Hahn, …

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