BEAVERTON, ORE. — Intersect Power, an Oregon-based clean energy company, has received $837 million in financing for the construction and operation of three standalone battery energy storage facilities in Texas. The facilities, the specific locations of which were not disclosed, are expected to be operational by the end of the year. The financing includes portfolio-level construction debt, tax equity and term debt financing. Morgan Stanley provided tax equity, and funds and accounts managed by HPS Investment Partners will be making construction debt and term debt investments. Deutsche Bank is partnering in the construction debt facility and providing the operational letters of credit to the projects.
AUSTIN, TEXAS — Chicago-based Logistics Property Co. has broken ground on a two-building, 408,000-square-foot industrial project at 12821 Titanium St. in northeast Austin. The site is roughly one mile from State Highway 130 and 15 miles from the downtown area. The development will consist of a 175,000-square-foot rear-load building and a 233,000-square-foot cross-dock building. Construction is expected to last about one year. McFarland Architecture is designing the project, and FCL Builders is serving as the general contractor. Locally based brokerage firm AQUILA Commercial is marketing the property for lease.
AUSTIN, TEXAS — Developer High Street Residential has completed Alder at The Grove, a 276-unit multifamily project located within The Grove master-planned community in Austin. The first phase, the 373-unit Korina at The Grove, was completed in March 2022. Alder at The Grove features studio, one-, two- and three-bedroom floor plans that range in size from 400 to 3,600 square feet. Amenities include a pool, fitness center, clubroom, resident lounge, coworking space and outdoor grilling and dining stations. JHP Architecture designed the project, with interiors by Britt Design Group. Andres Construction served as the general contractor. Rents start at roughly $1,225 per month for a studio apartment.
HOUSTON — Avison Young has arranged a 104,013-square-foot office headquarters lease in Houston. The tenant, Camden Property Trust, will relocate from Greenway Plaza to floors 25 through 29 at Williams Tower, a 1.4 million-square-foot building located at 2800 Post Oak Blvd. in Houston’s Galleria neighborhood. Anthony Squillante and Dustin Devine of Avison Young represented the tenant, which plans to take occupancy next fall, in the lease negotiations. Warren Savery and Nina Seyyedin of CBRE represented the landlord, Atlanta-based Invesco Real Estate.
BOSSIER CITY, LA. — The Cordish Cos. has topped off Live! Casino & Hotel Louisiana, a $270 million hospitality and gaming entertainment complex in Bossier City. The Baltimore-based retail entertainment owner and operator broke ground on the project in December 2023. Cordish Cos. and general contractor AnderCorp finished vertical construction at the property yesterday in a ceremony that included state and local officials. Scheduled to open in first-quarter 2025, the Live! Casino & Hotel Louisiana will feature more than 47,000 square feet of gaming space; a sportsbook for live betting on sporting events; an upscale 550-room hotel with a resort-style pool and fitness center; 25,000-square-foot events center; structured and surface parking; a 31-site RV park; and 30,000 square feet of dining and entertainment venues, including Cordish brands Sports & Social, PBR Cowboy Bar and Luk Fu. During the topping off ceremony, Cordish also announced two other additions to the restaurant lineup: Ridotto Grand Café and The Prime Rib steakhouse. Situated along the Red River, the project is expected to create 750 new construction jobs and 750 permanent jobs. The site was formerly home to the vacant Diamond Jacks Casino & Hotel, which Cordish Cos. acquired in 2023. Live Casino & …
IRVING, TEXAS — Developer KDC, in partnership with the University of Dallas, has received approval from the Irving City Council to rezone a site located north of State Highway 114 at Braniff Drive to support the development of a data center. The project, the size and scope of which was not disclosed, is currently in the design phase and expected to be complete in early 2027. Corgan is leading the design of the project, with Telios and Kimley-Horn providing engineering services.
NEWPORT, R.I. — KSL Capital Partners has received a $72 million loan for the refinancing of Hotel Viking, a 208-room hospitality property located in the coastal Rhode Island city of Newport. The hotel offers an indoor pool, fitness center and more than 14,000 square feet of indoor and outdoor meeting and event space. A joint venture between Smith Hill Capital and Bain Capital provided the debt.
MIAMI — Canada-based H&R REIT and Miami-based Urban-X Group have received approval from the City of Miami’s Planning, Zoning and Appeals Board for MidRiverVu, a 28-story apartment tower. The 475-unit, market-rate community will be situated on a 2-acre site at 1411 N.W. North River Drive in Miami’s MidRiver district, which is west of the downtown area. The property represents an expansion of the River Landing Special Area Plan (SAP) as it will be located directly north of the existing River Landing Shops & Residences, also owned by the REIT and co-developed with Urban-X. Sustainable features of MidRiverVu will include rain gardens, intensive and passive green roofs and decks and blue-green systems to control and slow runoff. The construction timeline and planned amenities for the tower were not disclosed.
BLYTHEWOOD, S.C. — Magnus Development Partners has completed Access 77, a 210,600-square-foot speculative industrial facility in Blythewood, a city near Columbia in Richland County. Situated near I-77, the property is located adjacent to the Scout Motors facility underway and within Northpoint Industrial Park, a county-owned park spanning 340 acres and housing companies including Coca-Cola, Constantia, Koyo and Spirax Sarco. Access 77 is a tilt-up facility that can house a single or multiple users. Features include a minimum clear height of 32 feet, 54- by 50-foot bay spacing, 130-foot truck court, LED lighting, trailer parking, 13 dock doors (expandable to 48) and two drive-in doors. Chuck Salley, Thomas Beard and John Peebles of Colliers are marketing Access 77 for lease.
NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.