CBRE Negotiates Sale of 1.7 MSF Industrial Portfolio in El Paso, Santa Teresa

EL PASO, TEXAS AND SANTA TERESA, MEXICO — CBRE has negotiated the sale of the IDI Logistics portfolio, a collection of 20 buildings totaling approximately 1.7 million square feet in El Paso and Santa Teresa, Mexico. Seventeen of the buildings are located in El Paso and three are located in Santa Teresa. The portfolio was 96.4 percent occupied at the time of sale. William Caparis, Andres Sandoval and Jonathan Bryan of CBRE represented Atlanta-based IDI Logistics in the transaction. The buyer …

CONTI Acquires 268-Unit Hillside Creek Apartments Near Downtown Austin

AUSTIN, TEXAS — CONTI Organization, a privately held multifamily owner-operator, has purchased Hillside Creek Apartments, a 268-unit community located about three miles south of downtown Austin. Built on eight acres in 1981, the garden-style complex offers amenities such as a pool, fitness center, a dog park, onsite laundry facilities and shuttle service to the University of Texas at Austin. The acquisition is CONTI’s first in Austin and 42nd in Texas. The seller was not

Allied Stone Signs 226,000 SF Industrial Lease at Eagle Park 20/35 in Metro Dallas

DESOTO, TEXAS — Allied Stone Inc., a provider of quartz, granite and marble countertops, has signed a 226,000-square-foot industrial lease at Eagle Park 20/35 in the southern Dallas suburb of DeSoto. The building spans 454,408 square feet, is situated off Interstate 35 and features a cross-dock configuration with 32-foot clear heights. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Ridgeline Property Group, in the lease

JLL Arranges Loan for Refinancing of 144-Unit Apartment Community in Dallas

DALLAS — JLL has arranged a Freddie Mac loan of an undisclosed amount for the refinancing of Central Park Apartments, a 144-unit multifamily community located in the Vickery Meadow neighborhood of Dallas. The property was built in 1977 and features one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse, a business center and onsite laundry facilities. Mark Brandenburg and Chad Russell of JLL arranged the loan, which carries a 10-year term and a fixed interest rate on …

Gaines Real Estate Brokers Sale of 82,000 SF Western Hills Plaza Shopping Center in Fort Worth

FORT WORTH, TEXAS — Gaines Real Estate Co. has brokered the sale of Western Hills Plaza Shopping Center, an 82,000-square-foot retail asset in Fort Worth. American Freight anchors the property, which also houses tenants such as Sonic, Taco Casa, Jackson Hewitt Tax Service and Ultimate Physique. Andrew Gaines and Hank Gaines of Gaines Real Estate represented the seller, a Dallas-based partnership, and procured the buyer, a California-based investor. Both parties requested

ACRES Capital: What can borrowers and lenders do to keep a loan from default?

  When beginning the loan process, borrowers and lenders start with a solid foundation. But what happens if a new or renovated project doesn’t lease up as quickly as expected? What happens if construction delays push past the end of the construction loan? What happens if construction cost overruns jeopardize completion of a project? And what if the economic upcycle turns downward before your project is completed? Mark Fogel, President and CEO of ACRES Capital, talks about the role …

DFW Industrial Market Poised for More Growth in 2020

The Dallas-Fort Worth (DFW) real estate market is remarkable. In a recent meeting with a broker from another market, he made the observation: “You guys in Texas are like a country unto yourself. It’s not that you don’t know there are 49 other states, you just don’t care!” While that was a bit of an exaggeration, the point was well taken. Certainly DFW is not immune to national affairs and recessions, but the market appears to have enough momentum to carry through 2020, though the …

Texas A&M Plans $546M Expansion at Texas Medical Center in Houston

HOUSTON — Texas A&M University has unveiled plans for a $546 million expansion project at Texas Medical Center in Houston. The project will include the $145 million acquisition and renovation of the 18-story Texas A&M Engineering Medicine (EnMed) building at 1020 Holcombe Blvd., as well as $401 million construction of two new towers adjacent to the EnMed structure. The first new building is a 30-story medical tower slated for completion in June 2023. The property will include …

Ascendant Commercial Buys Land in South Fort Worth for 2.2 MSF Industrial Project

FORT WORTH, TEXAS — Ascendant Commercial, a Dallas-based investment and development firm, has purchased land at the northwest corner of Interstate 35 and State Highway 1187 in south Fort Worth for a 2.2 million-square-foot industrial project. Construction of Phase I of the project is expected to commence this summer and to feature an 850,000-square-foot speculative distribution center. Delivery is slated for May 2021. CBRE is handling leasing of the new

Cushman & Wakefield Acquires Houston-Based Colvill Office Properties

HOUSTON — Cushman & Wakefield has acquired Colvill Office Properties, a Houston-based provider of office agency leasing services. The company currently oversees marketing and leasing efforts for roughly 17 million square feet of Class A office space throughout the Houston area. The Colvill portfolio includes more than 30 individual properties in the central business district, Energy Corridor/Katy Freeway, Galleria/Uptown, Westchase, West Belt, Springwoods and Inner Loop submarkets. …