DALLAS — Global Real Estate Advisors (GREA) has arranged the sale of four multifamily assets totaling 851 units that are located throughout the Dallas-Fort Worth metroplex. The properties include Villa Placita in Garland (122 units); Antigua Village in Fort Worth (152 units); WaterWalk Las Colinas in Irving (153 units); and The Club at Fossil Creek in Fort Worth (424 units). Mark Allen and Zac Thomas of GREA brokered the deals. The sellers were not disclosed.
RICHARDSON, TEXAS — Mapletree, a global real estate developer based in Singapore, is underway on the renovation of a 215,394-square-foot office building located within the Galatyn Commons complex in the northern Dallas suburb of Richardson. Galatyn Commons comprises four buildings totaling 800,000 square feet. Amenities include a food hall with 300-seat dining area, coffee shop and grab-and-go food service, as well as a 10,000-square-foot fitness and wellness center, an outdoor kitchen with grill stations, bocce ball courts and an outdoor amphitheater with 1,000-seat capacity. Cushman & Wakefield is marketing the five-story building for lease. Renovations are expected to be complete next summer.
HOUSTON — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Pebble Creek Apartments, a 136-unit property in northwest Houston. Built on 6.5 acres in 1980, the property offers one- and two-bedroom units with an average size of 865 square feet. According to Apartments.com, amenities include a pool, playground and onsite laundry facilities. Chris Siemasko of TMG represented the seller, and Nasir Pooran of TMG procured the private California-based buyer. Both parties requested anonymity. Pebble Creek was 97 percent occupied at the time of sale.
WALLER, TEXAS — Locally based firm KDW will develop a 130,000-square-foot manufacturing facility in the northwestern Houston suburb of Waller that will be an expansion of the existing campus of Green Span Profiles, a provider of insulated wall panels. The crane-served facility will be situated on 33 acres and is expected to come on line in January. The company’s original 70,000-square-foot plant opened in 2011. Green Span Profiles expects to hire about 15 new employees to staff the facility.
SAN ANTONIO — Nutex Health, a Houston-based provider that owns and operators 21 facilities across eight states, has acquired a 55,755-square-foot facility in north San Antonio. According to LoopNet Inc., the 65-bed facility was built on 4.1 acres in 1971. Zach Leger of NAI Partners represented Nutex Health in the transaction. Chad Gunter of Transwestern represented the seller.
FAIR LAWN, N.J. — Locally based developer Kushner has begun construction on a 307-unit apartment community that will be reserved for renters age 55 and over in the Northern New Jersey community of Fair Lawn. The community will offer one- and two-bedroom units, with 46 residences reserved as affordable housing. Amenities will include a pool, fitness center, spa, salon, massage room, clubhouse, game room, movie theater, putting green, library and a pet spa. The site currently houses a vacant office building. Completion is slated for the second quarter of 2025.
WORCESTER, MASS. — Shawmut Design & Construction has broken ground on a 70,000-square-foot academic building at Clark University in the central Massachusetts city of Worcester. The two-wing building will serve as the new center for the media arts, computing and design programs. Design features will include a multimedia gallery, virtual reality lab, video game library for researching interactive media, a makerspace, incubator space, robotics lab, data science lab, a tiered classroom and faculty offices. Completion is slated for next fall.
MARICOPA, ARIZ. — Thompson Thrift Retail Group has completed the sale of Sonoran Creek Marketplace, a shopping center located on the southwest corner of John Wayne Parkway and Edison Road in Maricopa. An undisclosed buyer acquired the asset for $34 million, or $461 per square foot, in an off-market transaction. Situated on 10.2 acres, the 73,692-square-foot Sonoran Creek Marketplace was 100 percent occupied at the time of sale. Current tenants include Sprouts Farmers Markets, Jimmy John’s Sandwiches, Supercuts, Marshalls and The Joint Chiropractic. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the transaction. Cameron Warren, Nick DeDona, Dan Gardiner and Greg Laing of Phoenix Commercial Advisors handled leasing at the property.
LACEY, WASH. — Berkadia has brokered the sale and financing of Dakota Apartments, a garden-style multifamily community in Lacey. Bellevue-based American Capital Group sold the property to Los Angeles-based TruAmerica Multifamily for an undisclosed price. Ben Johnson, David Sorensen, George Pallis and Kenny Dudunakis of Berkadia Seattle represented the seller in the deal. Mitch Sinberg and Matthew Robbins of Berkadia Boca Raton, along with Brad Williamson of Berkadia Miami, secured acquisition financing on behalf of the buyer. A bank lender provided a fixed-rate loan with a five-year term. Located at 6205 Pacific Ave. and built in 2006, Dakota Apartments features 156 one- and two-bedroom units averaging 756 square feet to 1,089 square feet. The prior owner renovated 71 of the original units, allowing the new owners the opportunity to complete the full renovation and repositioning of the property. Units feature vinyl flooring, ceiling fans, stainless steel appliances, pantries, built-in bookshelves, linen closets, washers/dryers and patios or balconies. The gated community amenities include an outdoor swimming pool; hot tub; sundeck and cabana; playground; resident lounge with kitchen, billiards table and game room; fitness center; theater room; and assigned and covered parking.
MOAB, UTAH — MAG Capital Partners has purchased 27 resort condominiums at 2331 Mesa Road in Moab, with plans to develop 60 additional units at the site. The assets are part of the seven-acre Sage Creek at Moab resort. The bank-owned property was acquired for an undisclosed amount, with many of the existing 48 units pre-sold prior to construction and now operating as vacation rentals. Sage Creek at Moab’s amenities include a tiered pool with waterfalls, grotto-style hot tub and pool house facilities that operate year-round. A community deck and patio includes an outdoor fireplace barbecue grills, outdoor showers and bocce ball court. The community also features custom exterior bike storage and gated parking for RVs and boats. The condos each feature three full-sized bedrooms, two-and-a-half bathrooms, a full-sized laundry room and private balconies, some with private hot tubs. Led by principals Dax Mitchell and Andrew Gi, MAG Capital Partners plans to add food and beverage services at the site this summer, among other facility amenities, to serve the local community and annual visitors.
