Texas

Standard-at-Royal-Lane-Dallas

DALLAS — JLL has arranged a loan of an undisclosed amount for Standard at Royal Lane, a 300-unit apartment community in northwest Dallas. The newly constructed property sits on a 12.4-acre site and offers one-, two-, three- and four-bedroom units, with some apartments being subject to income restrictions. Amenities include two pools, dual fitness centers, a business centers and a theater room. Kyle Spencer, Dan Kearns, Christian Johnston and Aidan Flanagan of JLL arranged the loan through TPG Real Estate Credit on behalf of the owner, LDG Development.

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RICHARDSON, TEXAS — Marcus & Millichap has brokered the sale of a 51,542-square-foot retail property in the northeastern Dallas suburb of Richardson. Known as Baybury Square Shopping Center, the 11-acre property consists of two multi-tenant centers and two freestanding buildings that were built in 1966. Baybury Square Shopping Center was 64 percent leased at the time of sale. Philip Levy and Scott Abeel of Marcus & Millichap represented the seller, an out-of-state investor, in the transaction, and procured the buyer, a local developer. Both parties requested anonymity.

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GRANBURY, TEXAS — Dallas-based brokerage firm STRIVE has negotiated the sale of a Fountain Oaks Shopping Center, a 16,599-square-foot retail property in Granbury, about 40 miles southwest of Fort Worth. Built in 2013, the center was 96 percent leased at the time of sale to tenants such as Village Nail Spa, Rotech Healthcare, Profile Medical, Lift Rock, Farmers Insurance and Affordable Dentist Near Me. STRIVE represented the undisclosed seller in the transaction. The buyer and sales price were not disclosed.

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SAN ANTONIO — Alera Group has signed a 13,668-square-foot office lease in northwest San Antonio. The insurance and financial services company is taking space on the 10th floor of Concord Plaza, a development that consists of an 11-story office tower, a three-story corporate building and ground-level retail. Steve Thomas and Alyse Sellers of Stream Realty Partners represented the landlord, Milam Real Estate Capital, in the lease negotiations. Bryan Sethney of Cushman & Wakefield represented Alera Group.

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HUTTO, TEXAS — Blue Origin Enterprises, a private American aerospace manufacturer, defense contractor and spaceflight services company founded by Amazon founder Jeff Bezos, will invest approximately $554 million to develop Constellation Park, a 1.3 million-square-foot satellite and communications manufacturing campus located in Hutto, about 35 miles northeast of Austin. The facility is expected to create more than 2,000 jobs over 10 years. Constellation Park will be situated in the Hutto Crossing development, a 118-acre, multi-phase industrial and commercial development owned by Dallas-based Velocis, Austin-based Ironwood Realty Partners LLC and California-based MBK Industrial Properties. This project marks the first time Blue Origin is receiving money from outside investors, as reported by multiple sources. The space company received an $18.2 million grant through the Texas Enterprise Fund from Texas Gov. Greg Abbott’s office. Williamson County also unanimously approved local tax breaks and economic development agreements for Blue Origin’s investment. According to the Austin Business Journal, Blue Origin has committed to working with the Williamson County school district to develop paid high school internships and support career and technical education programs to give students a pathway to careers in aerospace and advanced manufacturing. “With this investment by Blue Origin, along with recent expansions by …

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FORT WORH, TEXAS — Dallas-based investment firm RAMROCK Real Estate has purchased Ridgmar Mall in West Fort Worth with plans to redevelop the site into an industrial park. The new property will be known as Ridgmar 30 Logistics Crossing and will feature six buildings totaling 930,960 square feet. RAMROCK has partnered with KBC Advisors and Lincoln Property Co. to assist with project planning, leasing and development execution. Additional details, including construction timing, will be shared as planning progresses.

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FORT WORTH, TEXAS — Stonepeak, a New York-based alternative investment firm, has acquired a 860,100-square-foot industrial property in North Fort Worth. The address was not disclosed, but the property is located within the Alliance submarket and is served by rail lines, the BNSF Alliance intermodal terminal and the Fort Worth Alliance cargo airport. Newmark acted as Stonepeak’s financial advisor on the deal. The seller and sales price were also not disclosed.

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HOUSTON — Texas-based investment firm Skywalker Property Partners has sold a 67,161-square-foot manufacturing building in South Houston. The building at 14211 Industry St., which was constructed in 1968, was fully leased at the time of sale to energy company AMACS. Chris Aguilar represented Skywalker in the transaction on an internal basis. Wes Cole and Nick Spearman of Pinemont Real Estate represented the buyer, Austin-based investment firm Freehill Co.

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DALLAS — Law firm Carrington, Coleman, Sloman & Blumenthal LLP has signed a 50,802-square-foot office lease in downtown Dallas. The firm is relocating from Bank of America Plaza to the 18th and 19th floors of the Dallas Arts Tower, a 55-story building located at 2200 Ross Ave. Phil Puckett and Harlan Davis of CBRE represented the firm in the lease negotiations. J.J. Leonard of Partners Real Estate and Matt Wieser of Stream Realty Partners represented the landlord, Fortis Property Group.

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Holden-Heights-Apartments-Houston

HOUSTON AND SAN ANTONIO — Northmarq has provided a $68.8 million Freddie Mac loan for the refinancing of a portfolio of three multifamily properties totaling 940 units in Texas. Two of the properties — Holden Heights and Estancia San Miguel — are located in Houston, and the third property, The Montecristo, is located in San Antonio. Holden Heights and Estancia San Miguel total 282 and 300 units and were built in 2015 and 2006, respectively. Both properties offer one- and two-bedroom units, while Estancia San Miguel also includes three-bedroom floor plans. Built in 2005, The Montecristo totals 358 units in one-, two- and three-bedroom floor plans. Taylor Francis, David Blum, Joe Giordani, Charlie Buckingham and Matt Radich of Northmarq originated the fixed-rate loan on behalf of the borrower, Francis Property Management.

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