FORT WORTH, TEXAS — Hillwood has broken ground on a 75,000-square-foot hangar facility at Fort Worth Alliance Airport for aviation defense firm Airborne Tactical Advantage Co. (ATAC). The facility will support pilot training and professional development in addition to aircraft maintenance. The project is expected to be complete by summer 2019 and could employ as many as 200 personnel.
ALLEN, TEXAS — KWA Construction has completed Larkspur at Twin Creeks, a 243-unit seniors housing community situated on eight acres in the northeastern Dallas metro of Allen. California-based Drever Capital Management and Dallas-based The Alder Group developed the property, which offers 18,000 square feet of amenity space, including a fitness center, crafts studio, game room and private wine lockers. Plano-based Architettura designed the project.
DALLAS — Connecticut-based investment bank HJ Sims has closed on $186.5 million in financing for Legacy Midtown Park, a 325-unit continuing care retirement community in Dallas that broke ground over the summer. Individual components of the financing package include $69.9 million in underwritten bonds, $70.5 million in financing and $14 million in subordinate financing. The property will offer independent living, assisted living and memory care units. The borrower was Legacy Senior Communities, a Plano-based not-for-profit organization that will also manage the property. Services at Legacy Midtown Park will become available in phases over 2019 and 2020
AUSTIN, TEXAS — Endeavor Real Estate Group will develop 93 Red River, a 29-story mixed-use tower that will be located in the Rainey Street District near downtown Austin. According to austin.towers.net, the property will feature 18 floors of residential units, three floors of office space, seven levels of parking and 12,817 square feet of restaurant space. Austin-based Endeavor expects to complete the project by the third quarter of 2020.
LUBBOCK, TEXAS — CBRE has brokered the sale of Wildwood of Lubbock, a 1,005-bed student housing community serving Texas Tech University in Lubbock. Built in 2017, the 294-unit property is located less than two miles from campus and features a pool, fitness center, a study center and community green space. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the developer and seller, Georgia-based Dovetail Development, in the transaction. The buyer was a private real estate fund advised by Dallas-based Crow Holdings Capital-Real Estate. The sales price was not disclosed.
COPPELL, TEXAS — Dallas-based Cawley Partners will develop The Braun on Belt Line, a 168,000-square-foot office building that will be located in Coppell, a northern suburb of Dallas. The four-story property, which marks Phase I of a larger office development, is being built on a speculative basis. Amenities will include a conference center, patio lounge and a fitness center. Gensler designed the project, which is slated for a third-quarter 2020 completion.
GREENVILLE, TEXAS — JLL has negotiated a 130,816-square-foot industrial lease at 1001 Ed Rutherford Drive in Greenville, a city located about 50 miles northeast of Dallas. Chris Stout and Craig Phelps of JLL represented the tenant, Pennsylvania-based Chelsea Building Products, and the undisclosed landlord in the lease negotiations. The property, which previously housed a plastic injection molding company, will be Chelsea’s second production facility in the U.S.
HOUSTON — HFF has negotiated the sale of three office properties totaling 230,506 square feet in Houston. Amerix Capital purchased 2930 West Sam Houston Parkway; Enterprise Holdings bought 10401 CentrePark Drive; and S&B Engineers & Contractors Ltd. acquired 15150 Memorial Drive. The first two properties were built in the early 2000s, are located in Houston’s West Belt submarket and were 94.2 percent and 69.7 percent leased at the time of sale, respectively. The third property was built in 1992 and is located in the Energy Corridor area. Dan Miller and Trent Agnew of HFF represented the privately held seller, Houston-based MetroNational, in the transactions.
SAN ANTONIO — Oregon-based Hayden Properties has sold Fifth Avenue and Bitterwood Ranch, two multifamily assets totaling 388 units in San Antonio. Both properties offer one- and two-bedroom units and amenities such as a pool, business center, fitness center and outdoor grilling areas. According to The Austin Business Journal, the buyer was Wildhorn Capital, an Austin-based investment firm that acquired the properties for an undisclosed price.
HOUSTON — Chicago-based NXT Capital has provided a $31 million first mortgage loan for the acquisition of a 240-unit apartment community in Houston. The undisclosed property includes a pool, clubhouse with a business center, movie theater room, fitness center, tennis court, playground and onsite laundry facilities. Casey Wenzel of HFF placed the loan on behalf of the undisclosed borrower.
