Mixed-Use

PLANO, TEXAS — Granite Properties has broken ground on Granite Park IV, a 300,000-square-foot speculative office tower, and the 299-room Hilton Granite Park hotel in Plano. The two structures are part of a 90-acre mixed-use development located at State Highway 121 and the Dallas North Tollway. BOKA Powell is the design architect, architect of record and the interior designer on both projects. Woodbine Development Corp. is the development consultant for the hotel, Austin Commercial is the general contractor for the hotel and Balfour Beatty Construction is the general contractor for the office building. Granite Park IV is a 12-story office tower that is aiming to achieve LEED Silver certification. The property will feature a fitness center, conference space, a five-level parking garage and landscaped walkways with water features. The 262,500-square-foot hotel will feature 35,000 square feet of conference space, a restaurant, retail space, fitness center and an outdoor pool and lounge.

HOUSTON — HFF has closed the sale and arranged acquisition financing for Galleria Plaza, a 428,285-square-foot mixed-use complex in Houston. The complex consists of TeleCheck Plaza, 5333 Westheimer, Sage Plaza, Michaelyndon's on the Boulevard and Region's Bank. Dan Miller and Martin Hogan of HFF represented the sellers, Chase Merritt and PCCP, in the transaction. The buyer is a joint venture between Songy HighRoads LLC and The Carlyle Group. Wally Reid led the HFF team who arranged a three-year, 75 percent loan-to-value acquisition loan on behalf of the buyer through Bank of America Merrill Lynch – CMBS.

SAN ANTONIO — Lone Star Funds has purchased Eilan, a 120-acre luxury mixed-use development located at 17101 La Cantera Parkway in San Antonio, as part of a 20-property U.S. portfolio. The development includes 205,000 square feet of Class A office space, The Shops at Eilan, the 165-room Eilan Hotel Resort & Spa and a Sustenio restaurant. Lone Star Funds plans to expand Eilan to include a new 5,000-square-foot fitness center, two new pools, a hiking/biking trail and a Piatti restaurant. CBRE San Antonio is responsible for leasing Eilan's office and retail space, with Lindsey Tucker and Steve Thomas handling the office leasing and Gene Williams handling the retail leasing.

DALLAS — Canyon Capital Realty Advisors LLC has provided a $15 million mezzanine construction loan for the development of Sylvan | Thirty, a 6.34-acre mixed-use project in Dallas. The project will include 201 residential units and 49,134 square feet of retail space. Sylvan | Thirty will be located at the intersection of Interstate 30 and Sylvan Avenue. The development is pre-leased to Cox Farms Market, Matador Meat & Wine, Teiichi Fish Market, Pearl Cup Coffee and Sync Yoga. The borrower, a partnership between Ozxaca Interests LLC and Wood Partners, plans to complete the first retail building and initial phase of residential properties by the end of the year.