Texas

CBRE Secures $78M Loan for Refinancing of Mixed-Use Asset in Austin

by Taylor Williams April 18, 2018

AUSTIN, TEXAS — CBRE has secured a $78 million loan for the refinancing of The Triangle, a mixed-use property in Austin that includes 529 multifamily units and roughly 120,000 square feet of retail and restaurant space. Residential amenities include three pools, a 24-hour fitness center and a resident lounge. Brian Eisendrath, Brandon Smith and Annie Rice of CBRE secured the seven-year, floating-rate loan on behalf of The Dinerstein Cos., a Houston-based development firm that acquired the property in 2017.

April 18, 2018

Acquisitions Multifamily Texas

Transwestern Brokers Sale of 320-Unit Apartment Community in Dallas

by Taylor Williams April 18, 2018

DALLAS — Transwestern has brokered the sale of Plaza Del Lago, a 320-unit multifamily community in Dallas. Built in 1982, the property is located on the city’s northwestern side near Dallas Love Field Airport. Amenities include two pools, outdoor grilling areas, on-site laundry facilities, a dog park and a playground. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the seller, DIJ Plaza Del Lago LLC, in the transaction. The buyer and sales price were not disclosed.

April 18, 2018

Acquisitions Industrial Texas

HSM Negotiates Sale of Two Warehouses Totaling 29,000 SF in Houston

by Taylor Williams April 18, 2018

HOUSTON — Henry S. Miller Brokerage Co. (HSM) has negotiated the sale of two warehouses totaling approximately 29,000 square feet in Houston. The two buildings are located at 10440 Windfern Road on the city’s northwest side. Sam Chang of HSM represented the buyer, GAC Windfern LLC, in the transaction. Adam Strauss of New Regional Planning represented the sellers, the estates of two private investors.

April 18, 2018

Development Loans Multifamily Property Type Seniors Housing Texas

CBRE Arranges $59M Construction Financing for Seniors Housing High-Rise in Houston

by John Nelson April 17, 2018

HOUSTON — CBRE has arranged $59 million in construction financing for The Village of Southampton, a 17-story seniors housing community in Houston. A joint venture between Bridgewood Property Co. and Harrison Street Real Estate Capital is developing the building. The community will feature 204 independent living, assisted living and memory care units within the high-end Rice Village mixed-use development. Rice Village includes more than 300 shops and restaurants within a 16-block area. Located four miles southwest of downtown Houston, Rice Village is near Rice University, the Houston Museum District and the Texas Medical Center. Retirement Center Management, Bridgewood’s wholly owned management affiliate, will operate the property upon completion. A timeline for construction was not released. Aron Will and Austin Sacco of CBRE’s National Senior Housing group secured the five-year, interest-only loan through two national banks.

April 17, 2018

Development Property Type Retail Texas

VillaSport to Open 121,000 SF Athletic Facility in Metro Houston

by John Nelson April 17, 2018

KATY, TEXAS — VillaSport Athletic Club & Spa, an operator of upscale fitness clubs, will open a 121,000-square-foot athletic facility within Stableside at Falcon Landing, a 270,000-square-foot retail development in Katy. The facility will feature NBA-size basketball courts, yoga and Pilates studios, indoor and outdoor pools and a 12,000-square-foot kids club. Development of the center, which marks Phase II of Stableside at Falcon Landing, is expected to be complete by late summer 2019. Austin Alvis and Brad Elmore of NewQuest Properties, the master developer of Stableside at Falcon Landing, represented the landlord internally in the lease negotiations. Jason Baker and Lunden McGill of Baker Katz represented VillaSport, which currently operates five fitness facilities throughout the country.

April 17, 2018

Loans Multifamily Property Type Texas

NXT Capital Provides $25M Acquisition Loan for Apartment Community in Austin

by John Nelson April 17, 2018

AUSTIN, TEXAS — NXT Capital has provided a $25 million acquisition loan for a 230-unit, Class B apartment community located roughly eight miles south of downtown Austin. Situated one mile east of Interstate 35, the unnamed property’s amenities include a clubhouse, business center, fitness center, after school program operated by a nonprofit organization, swimming pool, grilling area, playground and an on-site bus stop.

April 17, 2018

Acquisitions Multifamily Seniors Housing Texas

Greystone Arranges $6.3M Sale of Skilled Nursing Facility in El Paso

by John Nelson April 17, 2018

EL PASO, TEXAS — Greystone’s Real Estate Advisors division has arranged the $6.3 million sale of Nazareth Living Care Center, a 124-bed skilled nursing facility located at 1475 Raynolds St. in El Paso. Chicago-based Mozart Healthcare LLC purchased the asset from Nazareth Hall, a nonprofit organization based in Texas. Mike Garbers and Cody Tremper of Greystone represented Nazareth Hall in the transaction. Paramount Healthcare is currently operating the community, which comprises two buildings situated on a 3.4-acre site. According to the property website, Nazareth Living Care Center features private suites, a transitional suite, fast-track recovery services and a therapy gym.

April 17, 2018

Leasing Activity Office Property Type Texas

Balfour Beatty Renews 46,694 SF Office Lease in Dallas

by John Nelson April 17, 2018

DALLAS — Construction firm Balfour Beatty has renewed its 46,694-square-foot office lease at Citymark at Katy Trail, a 226,344-square-foot office development located in the Uptown area of Dallas. Balfour Beatty’s new lease will keep the company in its current space, in which approximately 200 employees work, for another 10 years. Amenities at the property include a deli, fitness center with locker rooms, conference rooms and access to the Katy Trail. Richard Collinsworth of Bradford Commercial Real Estate Services represented the landlord, 3100 McKinnon LP, in the lease negotiations. Phil Puckett, Neal Puckett and Harlan Davis of CBRE represented Balfour Beatty.

April 17, 2018

Development Retail Texas

Weingarten Begins Work on 25-Acre Retail Project in San Antonio

by Taylor Williams April 16, 2018

SAN ANTONIO — Weingarten Realty, a Houston-based REIT, has begun work on the 25-acre retail portion of Stevens Ranch, a 2,400-acre master-planned community in San Antonio. The site will consist of a 20,000-square-foot retail shell, which broke ground in February, as well as five one-acre pad sites and one 18.3-acre pad site. Deliver is slated for the fall. Tenants that have preleased space at the property include Supercuts, Quarry Nails and Smilepoint Dental Group. Fulcrum Construction is serving as general contractor for the project, which is being designed by Lune Middleman Architects.

April 16, 2018

Development Industrial Self-Storage Texas

The Jenkins Organization Opens 293-Unit Self-Storage Facility in Metro Houston

by Taylor Williams April 16, 2018

MAGNOLIA, TEXAS — The Jenkins Organization has opened Magnolia Parkway Storage, a 293-unit self-storage facility in Magnolia, a northwestern suburb of Houston. The property will feature climate- and non-climate-controlled units across 44,933 net rentable square feet and includes boat/RV storage space. The facility, which will be the company’s 23rd in the Houston area, also has the capacity to be expanded. The grand opening was Saturday, April 21.

April 16, 2018

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