PFLUGERVILLE, TEXAS — Living Spaces, a California-based furniture retailer, has opened a 500,000-square-foot store and fulfillment center in the northern Austin suburb of Pflugerville. According to the Austin American-Statesman, the store includes showroom space, a bar with live music and a 3-D Room Designer feature, and is the largest furniture store in Central Texas. Construction began last summer and the official opening was held on May 25.
DALLAS — Ziegler, an Arizona-based seniors housing finance firm, has arranged the sale of Grace Presbyterian Village, a 268-unit continuing care retirement community in Dallas. Situated on 26 acres, the community includes independent living, assisted living and skilled nursing units. The Ensign Group, a California-based seniors housing operator, purchased the property for an undisclosed price.
LUBBOCK, TEXAS — Millennia Cos., a Cleveland-based multifamily operator, has acquired an unspecified 152-unit apartment complex in Lubbock for approximately $5.9 million. Miami-based investment banker GenX Capital Partners provided equity for the transaction. Following the acquisition, Millennia’s multifamily portfolio now totals more than 30,000 units.
HOUSTON — NAI Partners has brokered the sale of a 17,500-square-foot warehouse located at 8411 Villa Drive on the south side of Houston. Chris Caudill of NAI Partners represented the seller, McDonough Construction Rentals Inc., in the transaction. Stuart Rosen of Greater Houston Commercial Properties represented the buyer, ALS Investments Inc.
LEWISVILLE, TEXAS — Berkeley Point Capital, a multifamily finance firm with 11 offices throughout the country, has provided a $47.2 million loan for the construction of Tower Bay Lofts, a 308-unit apartment project being developed in the northern Dallas metro of Lewisville. The loan features a fixed 3.78 percent interest rate and a 40-year, fully amortized permanent term. Tom White of Berkeley Point secured the financing through the FHA’s 221(d)(4) program on behalf of the developer, Wittington Holdings. The project team broke ground in mid-April and expects to deliver the building in about 24 months.
HOUSTON — Arch-Con Construction, a general contractor with offices in Houston and Dallas, has topped out Residence Inn Medical Center, a 16-story hotel in Houston. Located near the Texas Medical Center and NRG Stadium on the city’s south side, the hotel will total 182 rooms upon completion, which is slated for February 2019. Amenities will include an indoor pool, fitness center and four conference/meeting rooms on the second floor. Moody National Cos. is the project developer, and Mitchell Carlson Stone Inc. is the architect.
HOUSTON — McCarthy Cos. has completed Phase I of an expansion project for the Museum of Fine Arts in Houston. The project revamped the Glassell School of Art, essentially doubling its size to 40,000 square feet and enabling the school to now serve more than 7,000 students per year. The school links to two gallery buildings and a sculpture garden as part of the redevelopment of a 14-acre portion of the campus. McCarthy self-performed certain aspects of construction, including the casting of 177 unique concrete panels.
DALLAS — Method Architecture, a Houston-based architecture and interior design firm that specializes in breweries and distilleries, will open an office in Dallas in June. The company, which has designed more than 25 breweries across the state, acquired an Austin-based firm in late 2017, making the new Dallas office its third in Texas. Method’s Dallas office will be located at 1919 McKinney Ave. near Klyde Warren Park in the downtown area.
ADDISON, TEXAS — Elevate Credit, a publicly traded provider of online credit solutions, has doubled the size of its office lease at Spectrum Center, a 614,000-square-foot office complex located in the northern Dallas metro of Addison. The company is expanding its footprint from 26,000 to 52,000 square feet. Cribb Altman and Mike Wyatt of Cushman & Wakefield represented Elevate Credit in the lease negotiations. The expansion will allow the company to grow its staff count from about 130 employees to 300.
WARD COUNTY, TEXAS — Cimarex Energy Co., a Denver-based oil and gas exploration firm, has entered into an agreement to sell an undisclosed amount of oil and gas properties and undeveloped acreage in Ward County, a region in West Texas near Midland and Odessa. The properties, which are collectively capable of producing 6,831 barrels of oil equivalent per day, will be sold for $570 million in cash to Callon Petroleum, a Mississippi-based oil and gas firm. The transaction is expected to close during the third quarter.
