Texas

Lakeside-at-La-Frontera-Austin

AUSTIN, TEXAS — Newmark has arranged the sale of a portfolio of three multifamily properties totaling 1,027 units in North Austin. The portfolio comprises The Enclave at La Frontera (411 units), Lakeside at La Frontera (366 units) and Legends Lake Creek (250 units). The properties were all built in the early 2000s and have an average unit size of 936 square feet. Amenities include pools, outdoor grilling areas, resident lounges, fitness studios and pet-friendly facilities. Patton Jones and Andrew Dickson of Newmark represented the seller, San Antonio-based owner-operator LYND, in the transaction. Tip Strickland and David Schwarz, also with Newmark, arranged acquisition financing on behalf of the buyer, Knightvest Capital.

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Artis-Montrose-Houston

HOUSTON — Georgia-based developer Southeastern has topped out a 330-unit multifamily redevelopment project in the Montrose neighborhood of Houston. Artis Montrose is a conversion of the site of the former “Disco Kroger” into a seven-story apartment building that will feature one- and two-bedroom units. Residences will range in size from 549 to 1,607 square feet. Amenities will include a pool, pet spa, outdoor workspaces, grilling stations, a clubroom, cyber lounge and a Zen garden. DCS Design is the project architect, and Arch-Con Corp. is the general contractor. The first units are expected to be available for occupancy in late 2027.

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FORT WORTH, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop Meacham 820 Crossing, a 238,000-square-foot industrial project in North Fort Worth. The development will consist of two buildings totaling approximately 105,000 and 133,000 square feet on a 26.5-acre site at the northwest corner of Old Decatur Road and I-820. Both buildings will feature 32-foot clear heights and dock-high loading doors, in addition to “deep” truck courts and “generous” car parking space. Construction is set to begin before the end of the year and to last about 12 months.

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AUSTIN, TEXAS — JLL has arranged a loan of an undisclosed amount for Rollingwood III, a 121,115-square-foot office building in southwest Austin. Built in 2019, the building is one of three within Rollingwood Center, a 13-acre campus located at the intersection of MoPac Expressway and Bee Caves Road. Rollingwood III was fully leased at the time of sale. Colby Mueck and Doug Opalka of JLL arranged the fixed-rate loan through Ascentris on behalf of the undisclosed borrower.

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CYPRESS, TEXAS — New York City-based Affinius Capital has provided a $35 million loan for the refinancing of Village Green at Bridgeland Central, a 198,000-square-foot retail and office property located in the northwestern Houston suburb of Cypress. Grocer H-E-B anchors the retail component of the property, which is located within the Bridgeland master-planned community. The property’s office component comprises a three-story, 49,000-square-foot mass timber building that was close to fully leased at the time of the loan closing. Colby Mueck, Kelly Layne, Jack Britton and Scot Sarlin of JLL arranged the loan on behalf of the owner, Howard Hughes Holdings.

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Hilton-Garden-Inn-Austin-Downtown

AUSTIN, TEXAS — Locally based owner-operator JMI Realty has received a $28.8 million acquisition loan for the 254-room Hilton Garden Inn Austin Downtown hotel. The hotel offers a variety of accommodations in addition to amenities such as a pool, fitness center and onsite food-and-beverage options. Beau Williams and Drew Gilligan of ThirtyFourth Capital, a Connecticut-based capital markets advisory firm that specializes in hospitality deals, arranged the loan through an undisclosed regional bank. 

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Hathaway-at-Willow-Bend-Plano

PLANO, TEXAS — Newmark has brokered the sale of Hathaway at Willow Bend, a 229-unit apartment complex in Plano. The property offers one-, two- and three-bedroom units and amenities such as two pools, a fitness center, outdoor kitchen and a dog park. Richard Furr, Brian O’Boyle Jr., Brian Murphy and Jack Forman of Newmark represented the seller, S2 Capital, in the transaction. Brian Kochan and Michael Caglianon, also with Newmark, arranged acquisition financing on behalf of the buyer, Granite Towers Equity Group.

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PROSPER, TEXAS — JLL has negotiated the sale of an 86,698-square-foot shopping center in Prosper, a northern suburb of Dallas. Shops at Prosper Trail was built in 2016 and was fully leased at the time of sale. Dallas-based Younger Partners Investments sold the center to Ohio-based retail REIT Phillips Edison & Co. for an undisclosed price. Adam Howells and Erin Myer of JLL brokered the deal.

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Longview-Mall

LONGVIEW, TEXAS — Fort Worth-based owner-operator Trademark Property Co. has provided updates on the repositioning of the 646,000-square-foot Longview Mall in East Texas. Since acquiring the mall a year ago in partnership with department store retailer Dillard’s, Trademark has upgraded the parking lot, exterior lighting and painting, landscaping and specialty leasing retail merchandising unit. Trademark is also planning to add a new children’s play area and update the interior paintwork and seating throughout the common areas.

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ATHENS, TEXAS — Marcus & Millichap has brokered the sale of North Loop Mini Warehouses, a 277-unit self-storage facility in Athens, about 75 miles southeast of Dallas. The facility was built on 7.6 acres in 1994 and spans 53,812 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local family, in the transaction and procured the buyer, a California-based private investor. Both parties requested anonymity.  

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