Texas

NAI Partners Purchases 73,105 SF Retail Center in San Marcos

by Taylor Williams July 10, 2018

SAN MARCOS, TEXAS — NAI Partners Investment Fund II, the private equity arm of Houston-based NAI Partners, has purchased San Marcos Place, a 73,105-square-foot office and retail center in San Marcos, located roughly midway between Austin and San Antonio. The four-building property was 84 percent leased at the time of purchase to retail tenants such as Pizza Hut and Nationwide Insurance. Andrew Pappas and Adam Hawkins of NAI Partners internally negotiated the sale for the fund. Cathy Nabours of HFF represented the undisclosed seller.

July 10, 2018

Creekside-Park-Village-Center-The-Woodlands-Texas

Development Healthcare Texas

Howard Hughes to Develop 67,200 SF Healthcare Project in The Woodlands

by Taylor Williams July 10, 2018

THE WOODLANDS, TEXAS — Howard Hughes Corp. (NYSE: HHC) will develop a 67,200-square-foot medical facility in The Woodlands, about 30 miles north of Houston. Designed by Houston-based PGAL, the project will deliver two 33,600-square-foot buildings within Creekside Park Village Center, a mixed-use property developed by Howard Hughes. Construction is scheduled to begin at the end of the year. Transwestern will handle leasing of the property.

July 10, 2018

Acquisitions Retail Texas

STRIVE Arranges Sale of 111,374 SF Retail Center in Fort Worth

by Taylor Williams July 9, 2018

FORT WORTH, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Westover Village, a 111,374-square-foot retail center in Fort Worth. The property, which houses tenants such as AT&T, Firehouse Subs and SportClips, was close to full occupancy at the time of sale. The site includes additional land for development. Jennifer Pierson of STRIVE represented the seller, a St. Louis-based developer, in the transaction. A Texas-based investor purchased the asset for an undisclosed price.

July 9, 2018

Acquisitions Multifamily Texas

TH Real Estate Purchases 246-Unit Apartment Community in Austin

by Taylor Williams July 9, 2018

AUSTIN, TEXAS — TH Real Estate, an affiliate of Chicago-based asset manager Nuveen, has purchased Tacara Steiner Ranch, a 246-unit apartment community in northwest Austin. The property, which was built in 2017 and was 98 percent occupied at the time of sale, offers one-, two- and three-bedroom units averaging 959 square feet per unit. Amenities include a pool, fitness and massage studios, media and game rooms and a dog park. Scott LaMontagne of JLL handled the sale on behalf of the seller and developer, San Antonio-based Casey Development Ltd.

July 9, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 76,202 SF Warehouse in Metro Houston

by Taylor Williams July 9, 2018

HUMBLE, TEXAS — Lee & Associates has brokered the sale of a 76,202-square-foot warehouse situated on 30 acres at 6750 Bender Road in Humble, a northern suburb of Houston. Mike Spears and Robert McGee of Lee & Associates represented the buyer, 6750 Bender Road Ltd., in the transaction. Houston-based RBIP Transportation LLC purchased the property for an undisclosed price.

July 9, 2018

Acquisitions Multifamily Seniors Housing Texas

Griffin-American Acquires Assisted Living Facility in Beaumont for $19.5M

by Taylor Williams July 9, 2018

BEAUMONT, TEXAS — Griffin-American, a partnership between American Healthcare Investors LLC and Griffin Capital Company LLC, has acquired Pinnacle Beaumont Assisted Living Facility in Beaumont for $19.5 million. Situated on 4.4 acres, the property features 79 units and consists of approximately 61,000 square feet of assisted living and memory care space. The acquisition was completed in a joint venture with an affiliate of Meridian Senior Living LLC, which will manage the property.

July 9, 2018

Loans Multifamily Seniors Housing Texas

Hunt Capital Closes $9.7M LIHTC Financing for Seniors Housing Project in Uvalde, Texas

by Taylor Williams July 9, 2018

UVALDE, TEXAS — Hunt Capital Partners has closed $9.7 million in low-income housing tax credit (LIHTC) equity financing for the development of Monarch Estates, an affordable seniors housing community in Uvalde, about 100 miles west of San Antonio. Roundstone Development is planning the 80-unit community, which will be the first affordable seniors housing community in the area. The groundbreaking is scheduled for later this month with a July 2019 target completion.

July 9, 2018

Loans Multifamily Texas

Meridian Arranges $23M Recapitalization for 344-Unit Apartment Complex in Austin

by Taylor Williams July 6, 2018

AUSTIN, TEXAS — New York-based Meridian Capital has arranged a $23 million loan for the recapitalization of a 344-unit apartment community in Austin. The community is located north of downtown on Cameron Road and features a pool, spa, on-site laundry and playground. Dov Jeremias and Brian Flax of Meridian arranged the loan, which featured an interest rate that was 200 basis points above the 30-day LIBOR rate, through KeyBank. The sponsor was not disclosed.

July 6, 2018

Industrial Leasing Activity Texas

Roadtex Signs 27,901 SF Industrial Lease Renewal in Dallas

by Taylor Williams July 6, 2018

DALLAS — Roadtex Transportation Corp., a logistics firm specializing in transit of refrigerated goods, has signed a 27,901-square-foot industrial lease renewal at 10705 King William Drive in Dallas. Ryan Boozer of Stream Realty Partners represented Roadtex in the lease negotiations. Adam Graham and Ken Wesson of Lee & Associates represented the landlord, EastGroup Properties.

July 6, 2018

Acquisitions Industrial Texas

NAI Partners Brokers Sale of 23,000 SF Warehouse in Houston

by Taylor Williams July 6, 2018

HOUSTON — NAI Partners has brokered the sale of a 23,000-square-foot warehouse located at 13735 FM 529 in Houston. The Class B, single-tenant property was built in 2014 and features 28-foot ceiling heights and two grade-level doors. John Ferruzzo, Nick Peterson and Ryan Searle of NAI Partners represented the seller, Southbelt Park Ltd., in the transaction. David Otis of Texas Shoreline Properties represented the buyer, GD Capital LLC.

July 6, 2018

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