Texas

Baylor Scott & White, Dallas Cowboys to Open 300,000 SF Sports Research Center at The Star in Frisco

by John Nelson June 18, 2018

FRISCO, TEXAS — Baylor Scott & White and the Dallas Cowboys will open their new 300,000-square-foot sports research facility at The Star in Frisco this Wednesday. Services that will be offered at the Baylor Scott & White Sports Therapy & Research at The Star include sports performance testing, a concussion center, imaging center, surgery suites, urgent care center, research space, outpatient rehabilitation and a pharmacy. Dallas-based Baylor Scott & White and the Cowboys are holding an official opening at the complex’s turf outdoor football field with the Frisco Independent School District, which is a partner in the new sports research and treatment complex.The facility was designed by the Dallas office of global architecture and design firm Perkins+Will. The Star is a 91-acre sports and entertainment district and serves as the world headquarters of the Cowboys.

June 18, 2018

Affordable Housing Loans Multifamily Texas

Hunt Mortgage Provides $12M Fannie Mae Loan for Affordable Housing Community in Dallas

by John Nelson June 18, 2018

DALLAS — Hunt Mortgage Group has provided a $12 million Fannie Mae loan for the refinancing of Cornerstone Apartments, a 240-unit affordable housing community in Dallas. Situated at 2606 Community Drive and 9709 and 9720 Starlight Road, Cornerstone was built in three phases between 1968 and 1976. Two of the phases were redeveloped in 1992 and 1995 through the Low-Income Housing Tax Credit program. The third phase comprises 38 market-rate apartment units without affordability restrictions. Community amenities include an on-site management/leasing office, four laundry rooms, a swimming pool and playground. Dallas-based Churchill Capital arranged the 12-year loan with a 30-year amortization schedule on behalf of the borrower, JAG CA Re-Development LLC, an entity backed by James E. Graham Jr. The company has invested $2 million in capital improvements to Cornerstone Apartments since taking over ownership, bringing the occupancy up from 70 percent to above 90 percent as of loan closing, according to Churchill Capital.

June 18, 2018

Acquisitions Retail Texas

SHOP Cos. Brokers Sale of 28,000 SF Shopping Center in Dallas

by John Nelson June 18, 2018

DALLAS — SHOP Cos. has arranged the sale of Haverwood Village, a 28,000-square-foot shopping center located along the Dallas North Tollway at 4809 Cole Ave. in Dallas. The property was 93.6 percent leased at the time of sale to tenants including Skillman Wok, Afrika Fusion, The Fade Shop, I-Apartments and Tsitsi’s African Styles. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the seller, a limited liability company based in Dallas. The buyer and sales price were not disclosed.

June 18, 2018

Acquisitions Self-Storage Texas

Bellomy & Co. Arranges Sale of 465-Unit Self-Storage Property in The Woodlands

by John Nelson June 18, 2018

THE WOODLANDS, TEXAS — Bellomy & Co. has arranged the sale of Affordable Self Storage The Woodlands, a 465-unit self-storage facility located on nearly five acres in The Woodlands. The Class A facility spans 90,800 rentable square feet across five buildings. The property includes climate-controlled and non-climate-controlled units and fully enclosed spaces for RVs and boats. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an undisclosed company based in The Woodlands. Bellomy and Johnson also procured the Houston-based buyer.

June 18, 2018

Leasing Activity Restaurant Texas

Baker Katz Signs Republic Chicken to New Lease in Beaumont, Texas

by John Nelson June 18, 2018

BEAUMONT, TEXAS — Houston-based Baker Katz has signed Republic Chicken, a family-style restaurant serving Southern comfort food, to a new lease in Beaumont. Located at the corner of Interstate 10 and U.S. Highway 96, the new 5,443-square-foot location sits on nearly 1.3 acres. Republic Chicken will move from its current location at 797 N. 5th St. in Beaumont. Lunden McGill represented Baker Katz internally in the lease transaction.

June 18, 2018

Grocers-Supply-Distribution-Center-Houston

Development Industrial Texas

Liberty Begins Work on 727,600 SF Distribution Center for Grocers Supply in North Houston

by Taylor Williams June 15, 2018

HOUSTON — Liberty Property Trust (NYSE: LPT) has begun work on a 727,600-square-foot distribution center in north Houston. The project is a build-to-suit for Grocers Supply, a division of C&S Wholesale Grocers, which has signed a long-term lease. The property will feature 40-foot clear heights, 65-foot speed bays, 75 dock doors and parking for 211 trailers and 667 cars. Completion is slated for the second quarter of 2019. Liberty Property Trust has also sold 34 acres located adjacent to the project site to the tenant.

June 15, 2018

Acquisitions Multifamily Texas

REEP Equity Acquires Two Multifamily Assets Totaling 537 Units in San Antonio

by Taylor Williams June 15, 2018

SAN ANTONIO — REEP Equity, a San Antonio-based multifamily investment firm, has acquired two apartment communities totaling 537 units in San Antonio. The properties are 4000 Horizon Hill, a 273-unit community featuring two pools and a fitness center, and Northgate Village, a 264-unit property featuring a pool and a picnic area. Mark Brandenburg and C.W. Sheehan of JLL arranged acquisition financing for the transaction through NXT Capital.

June 15, 2018

Acquisitions Industrial Texas

Berkeley Partners Sells 1 MSF Industrial Portfolio in DFW Area

by Taylor Williams June 15, 2018

DALLAS — San Francisco-based investment firm Berkeley Partners has sold seven industrial properties in the Dallas-Fort Worth (DFW) area totaling approximately 1 million square feet. The warehouse and light industrial assets encompass 28 buildings and are part of an 11-property portfolio that was 87 percent leased at the time of sale. Adam Herrin, Stephen Bailey, Chris Norvell and Ralph Smalley of HFF represented Berkeley Partners in the sale. A partnership between California-based private equity firm Circle Industrial and international investment firm FREO Group purchased the properties for an undisclosed price.

June 15, 2018

Development Multifamily Student Housing Texas

UH-Victoria Breaks Ground on $22.8M Student Housing Property

by Taylor Williams June 15, 2018

VICTORIA, TEXAS — The University of Houston-Victoria (UH-Victoria) has broken ground on Don & Mona Smith Hall, a $22.8 million student housing property in Victoria, about 115 miles southeast of San Antonio. The on-campus property will consist of 272 beds and span 82,000 square feet. Some amenities are still being determined, but the property will include a gaming lounge and an outdoor courtyard with seating and sports activities. Morganti Texas Inc. is serving as construction manager on the project, and Brave Architecture is handling its design. Completion is slated for August 2019.

June 15, 2018

Madison-at-Melrose-Apartments-Richardson-Texas

Loans Multifamily Texas

KeyBank Provides $21.4M Fannie Mae Loan for 200-Unit Apartment Community in Metro Dallas

by Taylor Williams June 15, 2018

RICHARDSON, TEXAS — KeyBank Real Estate Capital has provided a $21.4 million Fannie Mae first mortgage loan for Madison at Melrose Apartment Homes, a 200-unit multifamily community located in the northern Dallas metro of Richardson. The property was built in 1995 and is situated on 11.2 acres. Caleb Marten of KeyBank structured the 10-year loan, which features five years of interest-only payments and a 30-year amortization schedule. The loan will be used to refinance existing debt.

June 15, 2018

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