HUNTSVILLE, TEXAS — A joint venture between The Preiss Co. and TH Real Estate has acquired The Forum at Sam Houston, a 450-bed student housing property serving Sam Houston State University in Huntsville. The community offers one-, two- and three-bedroom units and amenities such as a pool, basketball and volleyball courts, fitness center, outdoor lounge and two pet parks. The new ownership will renovate the property this fall. The seller was not disclosed.
DALLAS — Crescent Real Estate LLC has topped out The Luminary, a 104,979-square-foot creative office building in Dallas’ West End neighborhood. A partnership between Crescent and Boston-based Long Wharf Capital acquired the property, which was designed by Dallas-based architecture firm Corgan, in 2017. Following the seven-story expansion, The Luminary is now the tallest building in the West End.
DALLAS — Coworking office firm WeWork will open a 52,000-square-foot location within Victory Park, a 75-acre mixed-use development in Uptown Dallas. Scheduled to open in early 2019, WeWork’s new space will comprise two floors of the Victory Plaza building located at 3090 Olive St. According to the company website, the Victory Park location will be WeWork’s sixth in the DFW metroplex.
ARLINGTON, TEXAS — Dougherty Mortgage has arranged a $14.6 million Fannie Mae loan for the acquisition of Running Brook Apartments, a 232-unit market-rate multifamily community in Arlington. The 12-year loan, which features a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending. The borrower was RBA202 LLC.
FORT WORTH, TEXAS — CBRE has brokered the sale of Vistana Apartments, an 82-unit multifamily property in Fort Worth. The property was built in 1972 and was 96 percent occupied at the time of sale. Texas- and California-based Gomel Vistana LLC purchased the asset from California-based Josmatava LLC for an undisclosed price. Chris Deuillet and Chandler Sims of CBRE brokered the deal on behalf of the seller.
PLANO, TEXAS — Dallas-based development firm Heady Investments has broken ground on Headquarters II, a project in Plano that will deliver two 14-story office buildings totaling 450,000 square feet. Designed by O’Brien Architects, the development will be located in the Legacy area and will also feature parking garages and a hotel. The Dallas Morning News reports that the project will have a construction period lasting 19 months.
SPRING, TEXAS — Bellomy & Co. has arranged the sale of Gleannloch Storage, a 601-unit self-storage facility located in the northern Houston suburb of Spring. The property offers more than 202,500 net rentable square feet and features climate-controlled units and boat/RV storage spaces. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, Gleannloch Storage LLC, in the transaction. The buyer was an undisclosed, out-of-state operator.
WILLOW PARK, TEXAS — Olympus Property has acquired The Village at Crown Park, a 258-unit apartment community in Willow Park, located about 25 miles west of Fort Worth. Built in 2015, the Class A property includes 50 townhomes and features two pools, outdoor grilling areas, a children’s play area, basketball and volleyball courts, fitness center, movie theater and a game room. The seller was not disclosed.
BENBROOK, TEXAS — Transwestern has negotiated the sale of a 76,625-square-foot industrial asset located in 7471 Benbrook Parkway in Benbrook, located on the southern outskirts of Fort Worth. Todd Hawpe, Jack Huff and Grant Huff of Transwestern represented the seller, Mayfair Investments LLC, and procured the buyer, Texas-based investment firm Fort Capital.
GRAHAM, TEXAS — Stream Realty Partners has brokered the sale-leaseback of a 44,833-square-foot office/industrial property in Graham, about 90 miles northwest of Fort Worth. Todd Noonan of Stream represented the seller/tenant, Dallas-based digital solutions company SpotSee, in the transaction. The City of Economic Improvement Corp. purchased the property for an undisclosed price.
