Texas

Bascom Group Acquires 424-Unit Apartment Community in Frisco

by Taylor Williams September 11, 2018

FRISCO, TEXAS — California-based private equity firm The Bascom Group has acquired Jefferson Stonebriar, a 424-unit multifamily community in Frisco. The newly built, Class A property consists of one-, two- and three-bedroom units and offers amenities such as a pool, fitness center, business center, conference room and pet park. The seller was Irving, Texas-based multifamily developer JPI. Brian Murphy and Richard Furr of ARA Newmark represented JPI in the transaction. Tip Strickland and Braden Harmon of Berkeley Point Capital secured debt for the transaction, which marks Bascom’s 35th multifamily property closed in Texas. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.

September 11, 2018

Development Industrial Self-Storage Texas

Jenkins to Develop 816-Unit Self-Storage Facility in North Austin

by Taylor Williams September 11, 2018

AUSTIN, TEXAS — The Jenkins Organization (TJO) has acquired land in north Austin for the development of Northgate Storage, an 816-unit self-storage facility. The property will span 127,000 gross square feet and will offer climate- and non-climate-controlled units, as well as gated entry and electronic security monitoring. The opening is currently slated for May 2019.

September 11, 2018

Acquisitions Industrial Texas

Ridge Sells 362,000 SF Spec Warehouse in Fort Worth

by Taylor Williams September 11, 2018

FORT WORTH, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has sold a 362,000-square-foot speculative warehouse in Fort Worth. The property is located within Railhead Industrial Park, a 633-acre, rail-served development. The building, which was completed in June, features 32-foot clear heights, 60 trailer parking spaces and 160 car parking spaces. An undisclosed institutional investor purchased the property after acquiring the adjacent, 299,810-square-foot property last year.

September 11, 2018

Acquisitions Industrial Texas

JLL Negotiates Sale of 270,084 SF Industrial Property in Rio Grande Valley

by Taylor Williams September 11, 2018

MISSION, TEXAS — JLL has negotiated the sale of a 270,084-square-foot industrial property located at 802 Trinity St. in Mission, a city in the Rio Grande Valley. Boston-based STAG Industrial acquired the warehouse property from Colimar Inc. for an undisclosed price. Dustin Volz, Zane Marcell and Grant Matthews of JLL, along with Edward Villareal of South Texas Commercial Real Estate, brokered the deal.

September 11, 2018

Loans Office Texas

iBorrow Provides $6M Loan for Coworking Office Building in Houston

by Taylor Williams September 11, 2018

HOUSTON — Private direct lender iBorrow has provided a $6 million loan for a two-story, 41,989-square-foot coworking office building located at 1512 Center St. N. in Houston. The loan will be used to renovate the property. Upon completion, the building will offer 50 open coworking spaces, 20 dedicated desks, 134 private offices and 40 parking spaces. The borrower was not disclosed.

September 11, 2018

Development Multifamily Seniors Housing Texas

General Contractor Hill & Wilkinson Completes 534-Bed Student Housing Property on UTA Campus

by Taylor Williams September 10, 2018

ARLINGTON, TEXAS — Richardson-based general contractor Hill & Wilkinson has completed West Hall, a 534-bed student housing property in Arlington. The community, which is the first of two phases of planned development, is located on the campus of University of Texas at Arlington (UTA). The four-story, 100,000-square-foot residence hall offers double-occupancy, semi-suite or pod-style configurations. Amenities include community learning and social spaces, as well as a game room and outdoor grilling areas. BOKA Powell designed the project.

September 10, 2018

Industrial Leasing Activity Texas

NAI Partners Negotiates 122,200 SF Industrial Lease in Houston

by Taylor Williams September 10, 2018

HOUSTON — NAI Partners has negotiated a 122,200-square-foot industrial lease at 11833 Cutten Road in Houston for e-commerce firm Western Post USA. The property was built in 2018. Chris Caudill and John Ferruzzo of NAI Partners represented the tenant in the lease negotiations. Allison Bergmann and Jim Foreman of Cushman & Wakefield represented the landlord, Industrial Property Trust.

September 10, 2018

Acquisitions Multifamily Texas

Leon Capital Sells Two Multifamily Assets Totaling 334 Units in Benbrook, Texas

by Taylor Williams September 10, 2018

BENBROOK, TEXAS — Dallas-based investment firm Leon Capital Group has sold Hillstone and Hillstone Trinity Oaks, two multifamily assets totaling 334 units in Benbrook, a southwestern suburb of Fort Worth. Leon Capital acquired both assets in 2015 and invested in capital upgrades, including remodeled units and exterior renovations. Both properties were built in 1980 and feature pools and access to the Trinity River walking trails. Taylor Snoddy of Transwestern represented the buyer, Lubbock-based Madera Residential, in the transaction.

September 10, 2018

Acquisitions Industrial Texas

TIG Sells 99,000 SF Industrial Portfolio in Austin

by Taylor Williams September 10, 2018

AUSTIN, TEXAS — Transwestern Investment Group (TIG) has sold Park 96, a 99,000-square-foot industrial portfolio in Austin. The portfolio was built in 1999 and consists of three 33,000-square-foot buildings. Each building features 20-foot clear heights and convenient access to Interstate 35, U.S. Route 183 and U.S. Highway 290. The property was 92.4 percent leased at the time of sale.

September 10, 2018

Development Office Texas

H-E-B to Open 81,000 SF Office, Tech Facility in Austin

by Taylor Williams September 10, 2018

AUSTIN, TEXAS — San Antonio-based grocer H-E-B will develop an 81,000-square-foot office and tech facility in Austin to support its on-demand delivery service platform. The company will convert a recently renovated industrial warehouse at 2416 E. Sixth St. into a creative and collaborative workspace. H-E-B expects the project to be complete by spring 2019.

September 10, 2018

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