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SKYE-of-Turtle-Creek-Dallas
AcquisitionsMultifamilyTexas

Knightvest Capital Acquires 331-Unit Apartment Building in Uptown Dallas

by Taylor Williams

DALLAS — Knightvest Capital, an investment firm with four offices across Sun Belt markets, has acquired SKYE of Turtle Creek, a 331-unit apartment building in Uptown Dallas that was completed in 1998. According to Apartments.com, SKYE of Turtle Creek offers one-, two- and three-bedroom units that range in size from 843 to 1,886 square feet, as well as a clubhouse, dog park and outdoor grilling and dining stations. The seller and sales price were not disclosed. Knightvest has since rebranded the property as Remi and plans to renovate select units and to upgrade building exteriors and common areas.

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DevelopmentHospitalityTexas

CDC Houston Begins Renovation of 125-Room Courtyard by Marriott Hotel

by Taylor Williams

HOUSTON — CDC Houston, a subsidiary of Coventry Development Corp., has begun the renovation of the 125-room Courtyard Houston City Place hotel. The four-story hotel was built in 2016 on a 2.9-acre site within the 2,000-acre City Place master-planned community on the city’s north side. Amenities include an outdoor pool, fitness center and meeting and event space. Arkansas-based Julian Builders is leading design and construction of the project, which is expected to be complete in the second quarter.

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AcquisitionsDevelopmentIndustrialTexas

Foundry Commercial Buys Industrial Outdoor Storage Site in Fort Worth, Plans New Facility

by Taylor Williams

FORT WORTH, TEXAS — Orlando-based development and investment firm Foundry Commercial has purchased an industrial outdoor storage (IOS) site in Fort Worth. Located on the city’s south side, the site at 8800 S. Freeway spans 6 acres upon which Foundry plans to construct a 5,200-square-foot service building. Foundry is partnering with Manulife Investment Management on the purchase and development of the property, which will be known as Freeway Yards.

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IndustrialLeasing ActivityTexas

Finial Group Negotiates 14,828 SF Industrial Lease in Southeast Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 14,828-square-foot industrial lease in southeast Houston. The property at 13027 Gulf Commerce Drive totals 44,358 square feet and features exterior dock doors, drive-in doors, trailer storage and parking for over 90 vehicles. Jason Gibbons of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was National Technical Institute, a provider of vocational training services.

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AcquisitionsIndustrialTexas

Oxford Partners Arranges Sale of 10,000 SF Industrial Building in Cypress, Texas

by Taylor Williams

CYPRESS, TEXAS — Locally based brokerage firm Oxford Partners has arranged the sale of a 10,000-square-foot industrial building in the northwestern Houston suburb of Cypress. According to LoopNet Inc., the single-tenant building at 13233 N. Eldridge Parkway was completed in 2024. Jeffery Arnaud of Oxford Partners represented the buyer, Hernandez Office Supply, in the transaction. Darren O’Connor of Partners Real Estate represented the undisclosed seller.

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Texas Tower
LoansOfficeTexasTop Stories

Newmark Facilitates $450M Refinancing of 47-Story Office Tower in Downtown Houston

by Channing Hamilton

HOUSTON — Newmark has arranged a $450 million loan for the refinancing of Texas Tower, a 47-story office building in downtown Houston. Located at 845 Texas Ave. on the former site of the Houston Chronicle newspaper, the tower comprises 1.2 million square feet. A partnership between locally based real estate giant Hines and Ivanhoé Cambridge delivered the property in 2021. Jordan Roeschlaub, Jonathan Firestone, Clint Frease, Blake Thompson, Travis Bailey, Peter Mavredakis and Tim Polglase of Newmark arranged the loan on behalf of Hines and Ivanhoé Cambridge. Wells Fargo and Morgan Stanley provided the CMBS single-asset single-borrower (SASB) loan. “The refinancing for this property was particularly notable as it marked the first time in two years that a multi-tenant office tower outside of New York City was financed in the CMBS single-asset, single-borrower market,” said Firestone. Texas Tower was 95 percent leased at the time of refinancing. Newmark stated that more than 500,000 square feet of leasing has taken place over the past year. Tenants at the property currently include McGuireWoods, Vinson & Elkins, Morgan Stanley, Cheniere Energy Inc. and Clifford Chance. Texas Tower also serves as Hines’ global headquarters. The skyscraper offers amenities such as a lobby, green spaces, …

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Data CentersDevelopmentIndustrialTexas

PowerHouse, Provident Unveil Plans for 768-Acre Data Center Campus in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — PowerHouse Data Centers, a division of Virginia-based American Real Estate Partners, and the data center development arm of Dallas-based investment firm Provident Realty Advisors, has unveiled plans for a 768-acre campus in the central metroplex city of Grand Prairie. The hyperscale campus will be developed in three phases and will ultimately consist of 24 buildings with a power capacity of 1.8 gigawatts at full build-out. The joint venture has secured all necessary approvals and permits and is moving forward with design and engineering initiatives. Phase I facilities are slated to come on line in May 2026. The project represents the second development in the area for PowerHouse Data Centers, which announced a 50-acre project in Irving last spring.

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DevelopmentIndustrialTexas

Brinkmann, Asbury Automotive Break Ground on Porsche, Volvo Dealership Campus in Dallas

by Taylor Williams

DALLAS — A partnership between St. Louis-based general contractor Brinkmann Constructors and Asbury Automotive Group has broken ground on a build-to-suit industrial project in Dallas that will deliver a campus-style Porsche and Volvo dealership. The project’s initial phase will involve the demolition of a 600,000-square-foot manufacturing facility and the renovation of an existing Volvo dealership. A 30,000-square-foot addition to the Volvo dealership will feature a 29-bay service shop, parts department and technical facilities. The project also includes the construction of new 140,000-square-foot Porsche dealership with a 70-bay service shop, parts department, tech facilities, offices and a showroom. Praxis3 is the project architect. Completion is slated for early 2027.

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The-Offices-at-Southstone-Yards
Leasing ActivityOfficeTexas

Toyota Financial Services Signs 242,000 SF Office Lease in Frisco

by Taylor Williams

FRISCO, TEXAS — Toyota Financial Services has signed a 242,000-square-foot office lease in Frisco. The automotive finance company will be the sole occupant of The Offices at Southstone Yards, a seven-story, mass timber building that is part of the 45-acre Southstone Yards development. Designed by Duda|Paine Architects in partnership with Gensler, The Offices at Southstone Yards offer amenities such as a fitness and wellness center, meeting spaces, private terraces on every floor and access to three acres of surrounding park space. CBRE represented the developer, Crow Holdings, in the lease negotiations. JLL represented Toyota Financial Services.

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Dunham-Pointe-Cypress
DevelopmentRestaurantRetailTexas

Trademark to Develop 25-Acre Retail, Restaurant District at Dunham Pointe in Cypress, Texas

by Taylor Williams

CYPRESS, TEXAS — Fort Worth-based Trademark Property Co. will develop a 25-acre retail and restaurant district within Dunham Pointe, a 1,300-acre master-planned community located in the northwestern Houston suburb of Cypress. The new district will total 205,000 square feet, and roughly 50 retail and food-and-beverage operators have already submitted preliminary lease offers for the property, according to Trademark. Construction is expected to begin in the fourth quarter, with the first openings slated for early 2027. At full build-out, Dunham Pointe will also feature more than 2,000 single-family homes and a school.

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