Texas

StreetLights Residential Breaks Ground on 373-Unit Apartment Community in Austin

by Taylor Williams May 2, 2018

AUSTIN, TEXAS — StreetLights Residential has broken ground on The Elizabeth at Presidio, a 373-unit multifamily community in northwest Austin. The community will feature one-, two- and three-bedroom units ranging in size from 504 to 1,938 square feet. Amenities will include a pool, covered grilling stations, fitness center, pet park, a cocktail and coffee bar and co-working and conference spaces. The first units are expected to be available for occupancy in 2019. SLR Construction LLC is serving as general contractor on the project and Looney Ricks Kiss is handling the design, minus landscaping and unit interiors. The Elizabeth at Presidio will be StreetLights Residential’s second community in northwest Austin following The Michael at Presidio, a 415-unit property that opened in September 2016.

May 2, 2018

Development Healthcare Texas

Brasfield & Gorrie Completes $125M Women’s Hospital in Dallas

by Taylor Williams May 2, 2018

DALLAS — Alabama-based general contractor Brasfield & Gorrie has completed Medical City Women’s Hospital Dallas, a $125 million healthcare project that was developed within the 801-bed Medical City Dallas Hospital. The project added five floors and 222 private rooms to Care Tower D at the complex. Other project features include 24 labor and delivery rooms, 84 neonatal intensive care units, 12 VIP suites and 16 medical/surgical rooms. National architecture firm Perkins + Will designed the property.

May 2, 2018

Development Healthcare Texas

MD Anderson Nears Completion of $97M Center in Metro Houston

by Taylor Williams May 2, 2018

LEAGUE CITY, TEXAS — MD Anderson is nearing completion of its $97 million clinical cancer center at the University of Texas Medical Branch (UTMB) League City campus in the greater Houston area. Completion is slated for September. Construction of a 740-space parking garage on the campus, a project valued at roughly $30 million, is also nearing completion. UTMB has also announced plans to add a five-story wing to the main hospital.

May 2, 2018

Acquisitions Industrial Retail Texas

Matthews Commercial Arranges Sale of Retail, Industrial Assets in Dallas Area

by Taylor Williams May 2, 2018

ARLINGTON AND FARMERS BRANCH, TEXAS — Matthews Commercial Group, a Dallas-based brokerage firm, has arranged the sale of two commercial properties in the Dallas area. Eliud Sangabriel of Matthews represented the seller in the disposition of a 12,000-square-foot retail center in Arlington, which was built in 2006, and a 15,000-square-foot industrial building in Farmers Branch. Jeremy Mercer of Mercer Cos. represented the buyer of the industrial property. Other terms of sale were not disclosed

May 2, 2018

Foster-Ridge-Distribution-Center-San-Antonio

Development Industrial Texas

Koontz Begins Work on 327,000 SF Distribution Center in San Antonio

by Taylor Williams May 1, 2018

SAN ANTONIO — Koontz Corp., a San Antonio-based development firm, has begun work on Foster Ridge Distribution Center, a 327,000-square-foot industrial facility in northeast San Antonio. The property will be situated on a 21-acre site that is located near a distribution center leased to Dollar General and an 871-acre site that was acquired by H-E-B last fall. The cross-dock facility will feature 32-foot clear heights, 75 dock-high overhead doors, 130-foot truck courts and an ESFR sprinkler system. Foster Ridge Distribution Center will be able to accommodate a single large user or multiple smaller tenants. The groundbreaking ceremony will be held later this week and completion is slated for the first quarter of 2019. Houston-based Powers Brown is serving as the architect for the project and San Antonio-based R.C. Page is serving as general contractor. HFF arranged financing for the project through Voya Financial Inc. and Dallas-based Catlyn Capital Corp.

May 1, 2018

Development Industrial Self-Storage Texas

HSM to Open 763-Unit Self-Storage Facility in Metro Dallas on May 7

by Taylor Williams May 1, 2018

GARLAND, TEXAS — Under the auspices of a limited partnership, Henry S. Miller Cos. (HSM) will open a 763-unit self-storage facility at 1200 State Highway 66 in Garland, a northeastern suburb of Dallas. The grand opening of the facility, which totals 77,000 net rentable square feet, is set for Monday, May 7. Approximately 88 percent of the units will be climate-controlled and 12 percent will be non-climate-controlled. Pennsylvania-based self-storage REIT CubeSmart will manage the facility.

May 1, 2018

Loans Multifamily Texas

NXT Capital Closes $19M Loan for Refinancing of Apartment Community in Dallas

by Taylor Williams May 1, 2018

DALLAS — NXT Capital, a Chicago-based lender, has provided a $19 million first mortgage loan for the refinancing of a 94-unit apartment community located in the Uptown area of Dallas. The Class A property includes amenities such as a pool, resident lounge, fitness center, pet washing stations and concierge services. The non-recourse loan featured a floating interest rate. The borrower and name of the property were not disclosed.

May 1, 2018

Loans Multifamily Student Housing Texas

Hunt Mortgage Provides $9.1M Acquisition Loan for Student Housing Property in Waco

by Taylor Williams May 1, 2018

WACO, TEXAS — Hunt Mortgage Group has provided a $9.1 million first mortgage bridge loan for West Campus Lofts, a 180-bed student housing property serving Baylor University in Waco. The loan features a 24-month term and a floating interest rate. West Campus Lofts totals 72 one-, two-, three- and four-bed units and offers amenities such as a pool and spa, 24-hour fitness center, game rooms and a study lounge. The property is located roughly half a mile from campus and was 85 percent occupied at the time of loan closing. The borrower, California Private Capital Group LLC, which manages more than 1,500 multifamily units in California and Texas, used the financing to purchase and complete the lease-up of West Campus Lofts.

May 1, 2018

Acquisitions Healthcare Texas

Fairfield Arranges $8.5M Sale of 21,500 SF Medical Office Building in Metro Dallas

by Taylor Williams May 1, 2018

CARROLLTON, TEXAS — Denver-based Fairfield Asset Advisors has arranged the $8.5 million sale of a 21,500-square-foot medical office building located at 1601 W. Hebron Parkway in the northern Dallas metro of Carrollton. USMD Health System, a Dallas-based specialty practice, serves as the anchor tenant for the building, which was built in 2015. An undisclosed buyer that specializes in medical office acquisitions recently acquired the property from an undisclosed physician and private investor.

May 1, 2018

Loans Office Texas

PMRG, National Real Estate Advisors Refinance 383,777 SF Office Tower in Houston

by Taylor Williams April 30, 2018

HOUSTON — A partnership between PMRG and National Real Estate Advisors LLC has refinanced 3737 Buffalo Speedway, an 18-story, 383,777-square-foot office tower located in the Greenway Plaza submarket of Houston. The partnership developed the Class A building in 2016. At the time of the loan closing, 3737 Buffalo Speedway was 73 percent leased to tenants such as FKP Architects, Solvay America and HCA Gulf Coast Division. Amenities include a fitness center, conference center, structured parking and a full-service restaurant operated by chef John Besh. Wally Reid and Matthew Putterman of HFF secured the three-year, floating-rate loan, proceeds of which will be used to complete leasing and pay off existing debt.

April 30, 2018

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