GLEN ROSE, TEXAS — Amazon plans to open a data center campus in Glen Rose, about 55 miles southwest of Fort Worth, an initiative that the Seattle-based conglomerate says will create about 550 new full-time jobs. The acreage of the site and total power capacity of the campus were not disclosed, but Data Center Dynamics reported earlier this year that according to a tax abatement application filed by Amazon, the project “could total up to 18 two-story buildings across some 435 acres and some $5 billion invested.” Those figures were also reported by Crypto Briefing in early November, at which time that outlet also reported that the campus would be known as Project Spectrum and was tied to a power purchase agreement of up to 1,200 megawatts.
WAXAHACHIE, TEXAS — Baylor Scott & White has provided updates on a $240 million healthcare expansion project in Waxahachie, a southern suburb of Dallas. Baylor Scott & White Medical Center – Waxahachie is a 52-acre campus that opened in 2014, and construction is now complete on a six-story inpatient building that represents the largest phase of the broader expansion project. The new building increases the facility’s licensed bed count from 140 to 199 and features an intensive care unit, surgery department and an expanded emergency department. Project partners included architect HKS, general contractor Whiting-Turner and Henderson Engineers. Construction of the new building began in spring 2024.
HOUSTON — Holt Lunsford Commercial Investments (HLCI), the investment and development arm of the Dallas-based brokerage firm of the same name, has broken ground on The Bend at 249, a 191,768-square-foot industrial project in northwest Houston. The site spans 14.4 acres along State Highway 249, and the development will consist of a single rear-load building with 36-foot clear heights, drive-in ramps with oversized doors, 44 dock-high doors and 61 trailer parking stalls. HLCI has tapped CBRE to market the project for lease. Construction is expected to be complete in the second quarter of next year.
FORT WORTH, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of Bowie House, a 106-room boutique hotel located in Fort Worth’s Cultural District. Bowie House, which is part of the Auberge Collection family of hospitality brands, opened in 2023 and includes 18 suites. The amenity package comprises an outdoor pool, fitness center, multiple food-and-beverage outlets and 10,835 square feet of meeting and event space. Jim Curtin, De’On Collins, Luke Rogers, Campbell Swango, Greyson Fewin and Robert Westerfield of JLL arranged the floating-rate loan through MetLife on behalf of the owner, Bowie Place Properties.
HOBOKEN, N.J. — New Jersey-based investment firm Faropoint has received a $474 million loan for the refinancing of a national portfolio of 85 industrial buildings. The addresses of the buildings were not disclosed, but the portfolio spans 12 states, with concentrations in the Chicago, Philadelphia and New York/Northern New Jersey markets. Truist Bank and Capital One co-provided the debt, with the $474 million representing an initial advance and the lenders committing an additional $84 million that will be available through an earn-out and holdback as the portfolio’s net operating income (NOI) increases. The loan also includes an accordion feature of up to $700 million to fund new properties and/or further earn-out beyond the $557 million as NOI increases and valuations grow.
ORLANDO, FLA. — JLL has arranged a $386 million construction loan for the development of InterContinental Orlando, a 700-room hotel located at 8001 International Drive in Orlando. Set to open in 2029, the 12-story hotel will span more than 900,000 square feet and be situated near Universal Epic Universe, Universal Orlando Resort, Walt Disney World Resort and the Orange County Convention Center. Kevin Davis, Mark Fisher, Jillian Mariutti, Wyatt Krapf, Henry Winchester and Martha Duff of JLL arranged the four-year, floating-rate loan through Civitas on behalf of the borrowers, Flag Luxury Group and Unicorp National Developments Inc. The loan features two one-year extension options. InterContinental Orlando will operate under the InterContinental Hotels & Resorts brand and include 105,000 square feet of meeting and pre-function space, multiple food-and-beverage venues, a conservatory, spa and wellness facilities, fitness center, lounge, pool and structured parking.
SAVANNAH, GA. — Songy Highroads and Matthews Southwest Hospitality have topped out Signia Hotel Savannah, a 444-room hotel for the recently expanded Savannah Convention Center. Songy Highroads and Matthews Southwest Hospitality are co-developing the Signia Hotel Savannah in partnership with the Georgia World Congress Center Authority. Hilton will manage the hotel upon completion. The project was funded by a $398 million municipal bond offering through Morgan Stanley. The Savannah-Georgia Convention Center Authority owns the hotel project, which is set to open in 2028. The hotel will include more than 34,000 square feet of meeting and event space, including a 13,000-square-foot ballroom, as well as an outdoor pool and five food-and-beverage outlets.
JACKSON, GA. — Prologis has broken ground on a nearly 1.3 million-square-foot cross-dock logistics facility at Prologis 75 Commerce Center in Jackson, a city southwest of Atlanta in Butts County. The development sits in Atlanta’s I-75 South submarket and will feature 42-clear heights, 258 dock doors, four drive-in doors, a 190-foot truck court, parking for more than 500 cars and 600 trailers, 70-foot speed bays, an 8-inch reinforced slab and two 4,000-amp connections. Prologis is pursuing LEED Silver certification for the project, which will have the capacity for both solar arrays and electric vehicle parking.
PITTSBURGH — Affinius Capital has provided a $100.3 million construction loan for Atmosphere Pittsburgh, a 672-bed student housing project that will be located near the University of Pittsburgh campus in the city’s Oakland neighborhood. The borrower is a joint venture between Starwood Capital Group and Trinitas Ventures. Atmosphere Pittsburgh will rise 10 stories and offer 326 fully furnished units, 34 of which will be designated as affordable housing. Shared amenities will include a rooftop fitness center and hot tub, game room, TV and computer lounges and private study spaces. Dwell Design Studio is the project architect. Completion is slated for summer 2028.
MARIETTA, GA. — Acento Partners has acquired Legacy at West Cobb, a 395-unit multifamily property located at 2665 Favor Road SW in Marietta, a northern suburb of Atlanta, from Aspen Square Management. The apartment complex was 88 percent occupied at the time of the sale. Andrew Mays and Paul Vetter of Berkadia’s Atlanta office represented the Massachusetts-based seller in the transaction. The sales price was not disclosed. Legacy at West Cobb was built in 1970 and renovated in 2021. The apartment complex offers one-, two-, three- and four- bedroom floor plans averaging 1,139 square feet in size. The community also includes rental townhome-style residences, with 17 percent of units configured in townhome layouts.
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