FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $113.7 million in acquisition financing for Presidio Junction, a portfolio of three contiguous retail centers totaling approximately 375,000 square feet in Fort Worth. The financing comprises life insurance debt and preferred equity. The centers — Presidio Towne Crossing, Tehama Towne Crossing and Vista Ridge — were fully leased at the time of the loan closing to tenants including T.J. Maxx, HomeGoods, Aldi, Petco, Old Navy, Sephora and Five Below. Adam Mengacci led the IPA team that arranged the financing on behalf of the borrower, Younger Partners Investments. The names of the direct lender and equity partner(s) were not disclosed.
KATY, TEXAS — Palladium USA is nearing completion of a $33 million mixed-income housing project in the western Houston suburb of Katy. Palladium Park Row Katy Living will feature 93 units in one-, two- and three-bedroom formats, with the affordable units reserved for households earning between 30 and 80 percent of the area median income. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium developed the property in a public-private partnership with the Harris County Housing Finance Corp. HEDK Architects designed the community, and Brownstone Group was the general contractor.
HOUSTON — Dallas-based Mohr Capital will develop Oates 610, a 371,388-square-foot warehouse in East Houston. The site spans 22.3 acres at the intersection of I-610, I-10 and U.S. Highway 90, and Oates 610 will feature a cross-dock configuration, 36-foot clear heights, 80 dock doors and 91 trailer storage stalls. Ware Malcomb is the project architect, and Kimley-Horn is the civil engineer. Site grading will commence in the coming weeks, and construction is expected to be complete in mid-2027.
HOUSTON — Seyfarth Shaw has signed a 40,487-square-foot office lease in downtown Houston. The law firm is taking space at 811 Main, a 974,884-square-foot office building. Eric Anderson and John Heard of Transwestern represented the landlord, Atlanta-based Invesco Real Estate, in the lease negotiations. Melissa Copley and Joshua Brown of Newmark represented the tenant.
LOS ANGELES AND HOUSTON — Investment firm Ares Management Corp. (NYSE: ARES) has entered into a definitive merger agreement with Whitestone REIT (NYSE: WSR) to purchase the company. Ares will acquire all outstanding Whitestone common shares and operating partnership units for $19 per share in an all-cash transaction valued at roughly $1.7 billion. Upon closing of the transaction, which is expected in the third quarter, Whitestone will become a private company and will no longer trade on the New York Stock Exchange. Houston-based Whitestone is a real estate investment trust (REIT) focused on open-air neighborhood retail markets. As of March 2026, Whitestone’s portfolio comprised 56 retail properties totaling approximately 3.9 million square feet, including retail centers in Phoenix; Austin, Texas; the Dallas-Fort Worth metro; Houston and San Antonio. “Whitestone’s portfolio provides an attractive opportunity to further diversify Ares Real Estate’s footprint with necessity-based retail centers in high-demand, supply-constrained metro regions across Arizona and Texas,” says David Roth, global head of real estate strategy and growth with Ares Real Estate. Whitestone’s board of trustees unanimously approved the transaction, which is subject to customary closing conditions, including approval by Whitestone’s shareholders. “We believe this transaction with Ares is a testament to the …
WINDCREST, TEXAS — Cleveland-based investment and development firm Industrial Commercial Properties (ICP) is underway on a 685,000-square-foot industrial project in Windcrest, located just northeast of San Antonio. Phase I of Windcrest International Business Park, which is a redevelopment of the 1.2 million-square-foot former headquarters complex of local cloud computing firm Rackspace Technology, is nearing completion following infrastructure upgrades and structural improvements. ICP has partnered with the City of Windcrest and Bexar County on the project. Rackspace originally acquired the 66-acre property in 2007. JLL has been tapped as the leasing agent.
DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a two-property multifamily portfolio totaling 372 units in East Dallas. Creekstone is a two-story, 220-unit apartment complex that was built in 1982. Gable Point is a 152-unit property that was constructed in 1986. Both properties offer units with private patios/balconies, as well as pools and onsite laundry facilities. William Hubbard, Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham of IPA represented the seller, Pardue Cos., in the transaction, and procured the buyer, Clover Capital Partners.
DALLAS — Trademark has welcomed eight new tenants to the 1.4 million-square-foot Galleria Mall in Dallas, which the Fort Worth-based owner-operator is currently redeveloping. The tenants are athleisure brand ALO, women’s apparel provider Aritzia, bridal and custom jewelry Helzberg 1915, Kids Foot Locker, French bakery Patissery and toy retailer Rolife, as well as apparel brands Urban Planet and Watson. All stores are either open or slated to open within the next six months.
HOUSTON — Fervo Energy has signed a 53,714-square-foot office lease in downtown Houston. The provider of renewable energy solutions is taking space at 811 Main, a 974,884-square-foot building. Eric Anderson and John Heard of Transwestern represented the landlord, Atlanta-based Invesco Real Estate, in the lease negotiations. Joshua Brown and Audrey Selber of Newmark represented the tenant.
DENTON, TEXAS — JLL has arranged acquisition financing for Resia Rayzor Ranch, a 322-unit apartment community located in the North Texas city of Denton. Completed in 2024 and located within a master-planned community of the same name, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Jesse Wright, Philip Galligan and Lauren Dow of JLL arranged the loan through private equity firm ACRE on behalf of the borrower, Miami-based owner-operator Resia.
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