Texas

Deploying Capital in 2019

by Jaime Lackey January 28, 2019

Todd Harrop, executive vice president and national director of capital markets at Bellwether Enterprise in Columbus, Ohio, believes 2019 will be another opportunistic year for lenders and intermediaries. REBusinessOnline discussed with Harrop the abundance of capital in this market – and how discipline and changes in capital providers’ programs have put these funds to work. What is the biggest challenge you anticipate in 2019 as an intermediary in commercial real estate? Much like 2018, we continue to be optimistic about the commercial real estate finance market in 2019. In 2018, we were challenged with a variety of market disruptors including rising interest rates, market volatility, geopolitical risks, and signs of an overall slowing global economy. In 2019, we expect these disruptors to continue. Furthermore, the debt space remains very crowded as capital flows continue to rise and opportunities have declined due to fewer refinance opportunities. The good news is capital is far from complacent and underwriting remains very disciplined, which should enable the markets to continue to function well. Where do you see the biggest opportunity for your company in 2019? In general, I believe there is an increased opportunity for mortgage bankers/intermediaries in 2019. This is due to the fact …

January 28, 2019

Features Finance Insight Loans Midwest Northeast Southeast Texas Western

Commercial Real Estate Lending Had a Banner Year in 2018

by Jaime Lackey January 28, 2019

Records were meant to be broken. That’s a phrase commercial lenders have become fairly familiar with over the past few years. Multifamily lending, in particular, has enjoyed a good run. In the fourth quarter of 2018, the Mortgage Bankers Association released the MBA Annual Report on Multifamily Lending. According to the report, strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017. Lenders provided a record high of $285 billion in new mortgages for apartment buildings with five or more units. Jamie Woodwell, vice president of commercial real estate research for MBA, cited a few reasons for this uptick in activity. “The multifamily lending market in 2017 benefited from improving fundamentals, rising property values and low interest rates,” he says. “The result was larger loan sizes and record levels of overall borrowing and lending…Demand came from borrowers and lenders of all sizes, with loan amounts ranging from thousands of dollars to hundreds of millions.” This breakneck pace continued last year as low unemployment, job growth and overall economic strength gave investors and lenders confidence in the market. Freddie Mac had its best year ever in terms of multifamily production in 2018. The government-sponsored enterprise (GSE) closed …

January 28, 2019

Conference Coverage Features Midwest Northeast Southeast Texas Western

How to Reach the Right Retail Audience

by Jaime Lackey January 27, 2019

It’s no secret that pop-up and experiential retail are hot topics. But it can be hard to figure out how best to engage audiences with an individual activation before, during and after the event. To help marketers solve this conundrum, Brandon Chesnutt, vice president and director of digital & development at Identity, hosted a session titled “Six Winning Pop-Up Retail Marketing Ideas Property Managers Can’t Ignore” during the 2019 Ancillary Retail Expo, a two-day conference produced by InterFace Conference Group and Ancillary Retail magazine. At issue during the session, which took place in mid-January at the Hilton Daytona Beach hotel, were a host of key topics for retailers looking to decide which pop-up retail marketing strategies generate the most attention, excitement and foot traffic. Chesnutt introduced the property owners and managers in attendance to tactics and campaign ideas that have the attention of retail marketers, including targeted social media advertising and tailored group activations. The Detroit native acknowledged that it’s an exciting time for marketers of all stripes, but said that excitement and energy comes with a host of questions about best practices in a rapidly changing industry. “The expectations of what is considered marketing are shifting,” said Chesnutt. “If …

January 27, 2019

Development Industrial Texas

Majestic Realty Breaks Ground on 423,280 SF Spec Industrial Project in Laredo

by Taylor Williams January 25, 2019

LAREDO, TEXAS — California-based Majestic Realty Co. has broken ground on a 423,280-square-foot speculative industrial project within Port Grande Logistics Port in the south Texas city of Laredo. The development follows a 200,000-square-foot lease with Source Logistics, a third-party logistics firm, which brought the property’s first building to full occupancy. The new building will feature 32-foot clear heights, 120 dock-high doors, 242 trailer parking spaces and 208 automobile parking spaces. Completion is scheduled for the fourth quarter. Majestic acquired the 2,000-acre Port Grande Logistics Port from a subsidiary of Mercedes-Benz in 2015.

January 25, 2019

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 528-Unit Multifamily Portfolio in DFW

by Taylor Williams January 25, 2019

FORT WORTH AND ARLINGTON, TEXAS — Greysteel has arranged the portfolio sale of Ironwood Crossing and Rush Creek Apartments, two multifamily communities in the Dallas-Fort Worth (DFW) metroplex. Ironwood Crossing in Fort Worth totals 280 units, and Rush Creek in Arlington totals 248 units. Both properties were built in 2004 and feature amenities such as pools, fitness centers, business centers and playgrounds. Ari Firoozabadi, Doug Banerjee and John Marshall Doss of Greysteel represented the seller and procured the buyer, both of which requested anonymity.

January 25, 2019

Development Healthcare Texas

UTHealth to Open $125M Mental Health Hospital at Texas Medical Center in Houston

by Taylor Williams January 25, 2019

HOUSTON — The University of Texas Health Science Center at Houston (UTHealth) will open a $125 million, 240-bed mental health hospital within Texas Medical Center in Houston. Designed by Chicago-based Perkins+Will, the facility will be the largest behavioral health academic center in the nation and the first mental health hospital built in Houston in more than three decades. Completion is slated for late 2021.

January 25, 2019

Development Multifamily Seniors Housing Texas

Integrated Senior Lifestyles Opens 101-Unit Expansion to Metro Houston Community

by Taylor Williams January 25, 2019

KINGWOOD, TEXAS — Integrated Senior Lifestyles has opened a 101-unit expansion at its Watercrest at Kingwood seniors housing community, located in the northern Houston suburb of Kingwood. The 145,000-square-foot “Garden Village” project adds 73 independent living and 28 assisted living residences to the existing campus. The expansion also features several common areas and amenities such as multiple outdoor sitting areas, a walking trail, wellness center, libraries, pet park and two new dining venues. Integrated operates 11 seniors housing communities in Texas and Oklahoma.

January 25, 2019

Leasing Activity Office Texas

CBRE Negotiates 13,371 SF Office Lease in Houston

by Taylor Williams January 25, 2019

HOUSTON — CBRE has negotiated a 13,371-square-foot office lease at 3737 Buffalo Speedway in Houston on behalf of The Houston Trust Co., and independent personal trust firm. The space will serve as the company’s new headquarters. Weldon Martin of CBRE represented the tenant in the lease negotiations. Madison Marquette represented the landlord, Houston 3737 Buffalo LP.

January 25, 2019

Industrial Market Reports Oklahoma Texas Texas Market Reports

OKC Industrial Market Should Benefit From Rising Labor Costs Across Central U.S.

by Taylor Williams January 25, 2019

From a manufacturing perspective, Oklahoma City has historically been considered a “tertiary market” when stacked against South Central and Midwest power players such as Dallas-Fort Worth (DFW), Houston, Kansas City, San Antonio, Austin and Denver. As large manufacturing users consider multiple markets in the Central United States, Oklahoma City is often included in the initial list but typically fails to make the short list for various reasons. However, as labor costs rise, Oklahoma City may find itself being pushed to the front of the line. Past Misses Oklahoma City’s industrial market totals approximately 108 million square feet, making it a smaller market than DFW, Houston, Kansas City, San Antonio, Austin or Denver. Primarily driven by the oil & gas, aerospace and consumer goods industries, this market’s fundamentals tend to move in lockstep with oil & gas commodity prices. The city has tried to diversify the economy over the past decade and bring in non-oil & gas users. But there is still room for improvement. The metro has seen its share of growth; however, overall industrial construction still pales in comparison to larger markets. Growing Appeal The industrial booms seen in DFW, Houston, Kansas City, San Antonio, Austin and Denver over …

January 25, 2019

Development Mixed-Use Texas

Frisco City Council Approves 14.6-Acre Mixed-Use Project Near Minor League Ballpark

by Taylor Williams January 24, 2019

FRISCO, TEXAS — The zoning and planning commission of the Frisco City Council has tentatively approved the development of a 14.6-acre mixed-use project near Dr. Pepper Ballpark, home of the Frisco Roughriders Minor League Baseball team. Plans currently call for a 311-room hotel, three office buildings totaling approximately 344,000 square feet, four retail buildings totaling roughly 116,000 square feet, one retail/restaurant space and two parking garage. According to The Dallas Morning News, Northland Properties, a Canadian firm headed by Dallas Stars owner Tom Gaglardi, will own and operate the hotel. A timeline for construction has not yet been established.

January 24, 2019

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