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Millennium-Crest-Apartments-Denton
DevelopmentLoansMultifamilyTexas

Colliers Mortgage Provides $55.9M HUD-Insured Loan for Denton Multifamily Project

by Taylor Williams

DENTON, TEXAS — Colliers Mortgage has provided a $55.9 million HUD-insured loan for the construction of Millennium Crest, a 245-unit multifamily project that will be located in the North Texas city of Denton. The property will offer 20 studios, 155 one-bedroom units and 70 two-bedroom units. Amenities will include a clubhouse, fitness center, pool, rooftop lounge and a dog park. Kevin Gould of Colliers Mortgage originated the debt, which carries a 40-year term and amortization schedule, on behalf of the developer, an entity doing business as Millennium Crest LP.

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YardHomes-Cottonwood-Creek-Hutto
Build-to-RentDevelopmentSingle-Family RentalTexas

Urban Moment Completes 293-Unit Build-to-Rent Residential Project in Metro Austin

by Taylor Williams

HUTTO, TEXAS — Locally based firm Urban Moment Development has completed YardHomes Cottonwood Creek, a 293-unit build-to-rent residential project in the northern Austin suburb of Hutto. The development offers one-, two- and three-bedroom units that range in size from 635 to 1,391 square feet and have private fenced backyards. Units feature stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Amenities include an event lawn, pickleball court, fitness center and a dog park. Rents start at roughly $1,500 per month for a one-bedroom home.

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AcquisitionsIndustrialTexas

Marcus & Millichap Brokers Sale of 145-Unit Self-Storage Facility Near Fort Worth

by Taylor Williams

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of FreeUp Storage, a 145-unit self-storage facility located outside of Fort Worth in North Richland Hills. The facility spans 21,910 net rentable square feet across four climate-controlled units, 101 non-climate units, 34 indoor units and six commercial warehouse units. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, Spartan Investment Group, in the transaction. The duo also procured the buyer, locally based storage investment group Hinze Capital.

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Leasing ActivityOfficeTexas

Fibergrate Opens 13,126 SF Office Headquarters at The Farm at Allen

by Taylor Williams

ALLEN, TEXAS — Fibergrate Composite Structures has opened its new, 13,126-square-foot office headquarters at The Farm at Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. The space is located within the 102,000-square-foot, recently completed FARMWorks One building. Citadel Partners and Hanna Commercial represented the tenant in the negotiations for the lease, which was signed last fall. Newmark represented the landlord, JaRyCo.

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AcquisitionsNorthmarqTexas

Northmarq Arranges Sale of 11,000 SF Medical Office Building in Bastrop, Texas

by Taylor Williams

BASTROP, TEXAS — Northmarq has arranged the sale of an 11,000-square-foot medical office building in the Central Texas city of Bastrop. Texas Oncology occupies the facility, which was originally built in 2009, on a triple-net basis. Jeff Matulis, Toby Scrivner and David Annett of Northmarq represented the seller, Dallas-based Blue Drake Capital, in the transaction and procured the buyer, Maple Street Management. Jada Purchase, also with Northmarq, arranged an undisclosed amount of acquisition financing for the deal.

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Morado-on-Berry-Fort-Worth
DevelopmentMixed-UseMultifamilyStudent HousingTexas

TCU, Endeavor Break Ground on Morado on Berry Mixed-Use Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between Texas Christian University (TCU) and Austin-based Endeavor Real Estate Group has broken ground on Morado on Berry, a mixed-use development on the university’s campus in Fort Worth. The development will include two student housing communities with apartments for upper-level students at 2900 W. Berry St. and 3024 Cockrell Ave. on the southern edge of TCU’s campus. The properties will also feature 25,000 square feet of ground-floor retail space upon completion, which is expected ahead of the 2027-2028 academic year. The communities’ 780 beds will be offered in studio, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities are set to include a fitness center and Pilates studio; rooftop pool and deck with a Jumbotron and adjacent social lounge with billiards; group and private study rooms; an outdoor living room with cooking facilities; and a large courtyard. The development team for the project includes a real estate fund advised by Crow Holdings Capital, Robert A.M. Stern Architects, Lake|Flato, The Beck Group, JLL, OHT Partners and Kimley-Horn. American Campus Communities has been tapped to provide marketing, leasing and property management services for Morado on Berry.

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TGS-Cedar-Port-DC2-Baytown
IndustrialLeasing ActivityTexas

Partners Real Estate Negotiates 496,421 SF Industrial Lease in Baytown, Texas

by Taylor Williams

BAYTOWN, TEXAS — Partners Real Estate has negotiated a 496,421-square-foot industrial lease in the eastern Houston suburb of Baytown. An unnamed tenant will occupy the entirety of TGS Cedar Port DC2, a rail-served distribution center located within the 15,000-acre TGS Cedar Port Industrial Park master-planned development. The building is situated on 27 acres and features 36-foot clear heights, LED warehouse lighting, an ESFR sprinkler system, oversized truck court and ample car and trailer parking. John Simons, Gray Gilbert and Chris Haro of Partners represented the landlord, TGS Cedar Port Partners LP, in the lease negotiations.

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Build-to-RentDevelopmentSingle-Family RentalTexas

ONM Living to Develop 188-Unit Build-to-Rent Community in Providence Village, Texas

by Taylor Williams

PROVIDENCE VILLAGE, TEXAS — Locally based firm ONM Living will develop Cottages at Providence Village, a 188-unit build-to-rent community that will be located on a 14-acre site within a master-planned community of the same name in Denton County. The development will offer studio, one-, two- and three-bedroom homes that will range in size from approximately 350 to 1,400 square feet. Homes will feature fenced yards, covered front porches, granite countertops, stainless steel appliances, walk-in showers, full-size washers and dryers and smart technology. Amenities will include a fitness center, pool, pickleball and other sports courts, dog park and walking trails. Leasing is scheduled to begin late next year.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 204-Unit Automotive Storage Facility in Corpus Christi

by Taylor Williams

CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Overflow Garage, a 204-unit automotive storage facility in Corpus Christi. The facility is located about 15 miles south of the downtown area and totals 16,880 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Plano-based Cumbia Real Estate Holding LLC, in the transaction. The team also procured the undisclosed, Corpus Christi-based buyer.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 50,000 SF Industrial Property in Northeast Dallas

by Taylor Williams

DALLAS — Lee & Associates has brokered the sale of a two-building, 50,000-square-foot industrial property in northeast Dallas. According to LoopNet Inc., the buildings at 11550 Plano Road were originally built in 1979. Building features include rear-load configurations, multiple renovated office suites, 16-foot clear heights and 108 surface parking spaces. Taylor Stell of Lee & Associates represented the undisclosed seller in the transaction and procured the buyer, RAM Capital Texas.

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