WYLIE, TEXAS — Transcontinental Realty Investors Inc. and its subsidiary, Adobe Properties, have opened Parc at Wylie, a 198-unit multifamily community in Wylie, a northeastern suburb of Dallas. The property consists of 13 three-story buildings and offers amenities such as a pool with a tanning deck, dog park, playground, fitness center and walking trails. The property, which also offers convenient access to two nearby lakes, was approximately 95 percent leased at its opening.
DALLAS — Chicago Pacific Founders (CPF), a private equity firm specializing in healthcare real estate, has acquired Churchill Estates, a 175-unit luxury seniors housing community in Dallas. The property, which will undergo a capital improvement plan, is located in the city’s Lake Highlands area. Amenities include a game and activity room, spa and salon, champagne lounge, library and an arts studio. The seller and sales price were not disclosed.
HOUSTON – McNair Interests, a private investment and management company founded by Houston Texans owner Bob McNair, has revealed plans to transform a vacant six-acre site in Houston’s Uptown District. The price tag for the 1.2 million-square-foot mixed-use development was not disclosed, but the Houston Business Journal reports the project is estimated to cost upwards of $500 million to complete. Located at 3200 Post Oak Blvd. near the intersection of Post Oak Boulevard and Richmond Avenue, the project will feature a Rosewood Hotel with luxury residences, multifamily tower, Class A office tower, chef-driven dining concepts, high-end retailers, green space and structured parking. “This is a defining development for McNair Interests and the city of Houston,” says Cary McNair, chairman and CEO of McNair Interests. “Our vision redefines the southernmost entrance of Post Oak Boulevard and the Uptown District, fusing a distinctive, sophisticated design with Houston’s future. We are excited for what this project will bring to our city and to visitors from around the world.” Rosewood Hotels & Resorts will manage the new hotel that will offer 150 hotel rooms and 80 upscale residences. The property will also feature multiple food and beverage options, ballroom and banquet facilities, meeting and …
AUSTIN, TEXAS — San Francisco-based financial services firm Charles Schwab Corp. has opened a new 50-acre campus within the Gracy Farms community in north Austin. According to the Austin Business Journal, the campus is valued at approximately $200 million. The property spans 469,000 square feet and feature two five-story office buildings. Amenities include walking trails, on-site yoga classes, a cafeteria, 275-seat auditorium and a Schwab bank branch for employees. The campus will house about 1,900 of the firm’s Austin employees. Construction of an additional office building and second parking garage is slated to begin this summer. Charles Schwab first came to Austin in 2000.
MCKINNEY, TEXAS — Virginia-based development and management firm Weinstein Properties has acquired Bexley Lake Forest, a 334-unit multifamily community located in the northern Dallas metro of McKinney. The Class A property was formerly branded Century Lake Forest. Amenities include a pool, coffee bar, fitness center, outdoor grilling areas, business center and both trash valet and dry cleaning services. Charles DuBose of Phillips Realty Capital arranged a $40 million fixed-rate loan through New York Life Insurance Co. on behalf of Weinstein Properties for the acquisition.
AUSTIN, TEXAS — San Antonio-based multifamily lender Mason Joseph Co. Inc. has closed a $40.4 million HUD loan for the construction and permanent financing of McKinney Falls, a 312-unit affordable apartment community in south Austin. The non-recourse loan was secured through HUD’s 221(d)(4) program and features a fixed interest rate for the 22-month construction period and subsequent 40-year term. McKinney Falls will offer amenities such as a fitness center, business center, conference room and children’s activity center. The project is a collaboration between the borrowers, the Travis County Housing Finance Corp. and California-based affordable housing developer AMTEX Multi-Housing LLC.
LEWISVILLE, TEXAS — Toyota Motor Sales USA LLC, the North American sales and marketing arm of the Japanese automaker, has signed a 121,188-square-foot industrial lease at 121 Riverview Crossing in Lewisville, a northern suburb of Dallas. The developer, ML Realty Partners, recently completed the Class A, freestanding distribution center, which features a rear-load configuration. Dan Spika and Jim Breitenfeld of Henry S. Miller Brokerage Co. (HSM) represented ML Realty Partners in the lease negotiations.
AUSTIN, TEXAS — AQUILA Commercial has negotiated the sale of Quarry Lake Business Center, a 117,000-square-foot office building in northwest Austin. The Class A space will serve as the new corporate headquarters for the buyer, Velocity Credit Union. The Florida-based not-for-profit financial institution plans to move into the building by May 2019. Michael Murphy, Jay Lamy and Andrew Reue of AQUILA represented Velocity Credit Union in the transaction. Jeremy Smitheal and Win Smith internally represented the seller, Riverside Resources.
DALLAS — Real estate developer and operator Oaxaca Interests will open Nowhere, TX, a 2.8-acre entertainment venue that will be located on a former industrial site in west Dallas. The concept will feature pop-up events and biergarten-style dining with rotating menus. Hocker Design Group designed the three-building venue, which is scheduled to open this summer.
GRAHAM, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of two industrial assets totaling 231,530 square feet in Graham, about 90 miles west of Fort Worth. Scott Axelrod of HSM represented Tampa-based packaging producer Jordan Industries in the purchase of a 125,810-square-foot building from Dallas-based Mercer Graham Properties LLC. Axelrod also represented a private investor in the sale of a 105,720-square-foot building to Traylor Investments Cliff LLC. The sales prices were not disclosed.
