TULSA, OKLA. — Sword Industrial Partners, an affiliate of Dallas-based investment firm MAG Capital Partners, has acquired a portfolio of 24 industrial buildings totaling approximately 1 million square feet in Tulsa. The portfolio, which collectively totals 103 suites across six industrial business parks, includes Space Center, Space Center East, Tulsa Business Park, Tandem Business Park, Maxim Center and Maxim Place. All of the properties are located less than 10 miles from the downtown area and Tulsa International Airport. The seller was DRA Advisors. The sales price was not disclosed.
STAFFORD, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, is underway on the $24 million renovation of Park at Fort Bend, a 250-unit affordable housing property in Stafford, a southwestern suburb of Houston. Built in 2001, the garden-style property offers two- and three-bedroom units across 20 buildings that are reserved for households earning 60 percent or less of the area median income. Renovations include new countertops, appliances, fixtures and flooring within unit interiors, as well as upgrades to amenity spaces such as the clubhouse, pool area, fitness center and resident clubhouse. Ownership is also making various accessibility, security and sustainability upgrades throughout the property. Renovations are expected to take about 18 months to complete.
SCHERTZ, TEXAS — An affiliate of Miami-based owner-operator Atlantic Pacific Cos. has purchased The Palmera on 3009, a 288-unit apartment complex located northeast of San Antonio in Schertz. Built in 2008, the property offers a mix of one-, two- and three-bedroom units that range in size from 597 to 1,150 square feet. Amenities include a pool, fitness center, resident clubhouse and a pet park. The new ownership plans to implement capital improvements to unit interiors, building exteriors and amenity spaces. The seller and sales price were not disclosed.
DALLAS — Marcus & Millichap has brokered the sale of a 26,494-square-foot mixed-use building in East Dallas. The site at 2700 Live Oak St. was originally constructed in 1923 as a bottling plant for beverage company 7Up and now houses an apartment building and retail center. Joe Santelli, Nick Fluellen, Chris Pearson and Bard Hoover of Marcus & Millichap represented the seller, an out-of-state REIT, in the transaction and procured the buyer, a local, private investor completing a 1031 exchange. Both parties requested anonymity.
HOUSTON — A joint venture between Trammell Crow Co. (TCC) and Japanese developer Daiwa House has broken ground on a 687,338-square-foot industrial project in southwest Houston. The project represents Phase II of Blue Ridge Commerce Center and will consist of three buildings on a 40.9-acre site. Buildings will span 182,908, 200,622 and 303,808 square feet and feature a mix of configurations in addition to 32- to 36-foot clear heights. Seeberger Architecture designed the project, and E.E. Reed Construction is serving as the general contractor. BGE is the project’s civil engineer, and CBRE is the leasing agent. Sumitomo Mitsui Banking Corp. is financing construction, which is expected to be complete next spring.
HOUSTON — Marcus & Millichap has brokered the sale of The Preserve at North Loop, a 218,689-square-foot office campus in northwest Houston. Built in 1970, the 12.7-acre campus consists of seven buildings that were approximately 65 percent leased at the time of sale. Keith Lloyd and Brad Mills of Marcus & Millichap represented the seller, an entity doing business as Silver Star CRE LLC, in the transaction and procured an undisclosed, Atlanta-based investor as the buyer.
MOUNT PLEASANT, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged $19.6 million in financing for a 9,557-square-foot travel center in Mount Pleasant, located in northeast Texas. The name and address of the property, which features a fuel station, restaurant and laundry facilities, were not disclosed. Ron Balys of MMCC arranged the five-year loan, which carries a 6.75 percent interest rate, through an undisclosed national bank. The borrower was also not disclosed.
MCKINNEY, TEXAS — Hugs Café Inc., a nonprofit organization dedicated to providing training and employment for individuals with intellectual and developmental disabilities, has opened its $10 million headquarters office in McKinney, located north of Dallas. Spanning 13,500 square feet, the facility features an onsite training academy, commercial training kitchen, classrooms, a rooftop deck and an outdoor patio, as well as administrative offices, dedicated learning areas and flexible workspaces. KDC designed the facility.
FLOWER MOUND, TEXAS — Associated Bank has provided a $50.1 million construction loan for Aura Brookview, a 300-unit multifamily project in Flower Mound, located in the northern-central part of the metroplex. The site spans 10 acres within the 240-acre Brookview master-planned community, and the development will consist of four four-story buildings. Floor plans were not disclosed. Residences will be furnished with stainless steel appliances, quartz countertops and in-unit washers and dryers. Amenities will include a pool, fitness center, coworking space, a dog park and outdoor grilling and dining stations. The borrower is Dallas-based Trinsic Residential Group. A tentative completion date was not announced.
SAN ANTONIO — CBRE has arranged a loan of an undisclosed amount for the refinancing of a Citadel Urban, a 181-unit apartment complex in San Antonio’s Westover Hills submarket. Citadel Urban was completed in 2024 and consists of two three-story buildings on a 5.5-acre site. Units come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, coworking space, coffee bar, resident lounge and outdoor grilling and dining stations. John Fenoglio and Brock Hudson of CBRE arranged the loan on behalf of the owner, Houston-based Cambridge Development Group. The direct lender was not disclosed.
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