Texas

Mexican Pasta Maker Opens $50M Production Facility in Cleburne, Texas

by Taylor Williams March 23, 2018

CLEBURNE, TEXAS — La Moderna, Mexico’s largest pasta manufacturer, has opened a $50 million production facility in Cleburne, roughly 30 miles south of Fort Worth. The 150,000-square-foot property, which took three years to build, is situated on 16.5 acres and will serve as the company’s U.S. headquarters. Specific features include office space with conference rooms and elevated workstations, as well as food safety and production analysis labs. The rail-served facility is capable of producing nearly 4,000 tons of pasta per month and will ultimately account for the creation of 400 direct and indirect new jobs in Cleburne.

March 23, 2018

Development Multifamily Texas

Arch-Con Underway on 251-Unit Apartment Community in Northeast Houston

by Taylor Williams March 23, 2018

HOUSTON — Arch-Con, a general contractor with offices in Dallas and Houston, is underway on construction of a 251-unit multifamily community within Redemption Square, a 52-acre mixed-use district in northeast Houston. Designed by Steinberg Dickey Collaborative LLP and Looney Ricks Kiss, the project will feature 17,000 square feet of retail space. Amenities will include a 75-foot pool, fitness center, a dog park, business center and multiple outdoor grilling areas. McCord Development is developing the property, which is expected to be complete by the end of 2019.

March 23, 2018

Acquisitions Industrial Self-Storage Texas

Skyview Brokers Sale of 763-Unit Self-Storage Facility in San Antonio

by Taylor Williams March 23, 2018

SAN ANTONIO — Skyview Advisors, a Tampa-based brokerage firm specializing in self-storage, has brokered the sale of a 763-unit Extra Space Storage facility in San Antonio. Approximately 97 percent of the units at the Class A facility are climate-controlled. The property sold during lease-up at 50 percent physical occupancy, according to Ryan Clark of Skyview, who represented the seller in the transaction. California-based FollettUSA purchased the property for an undisclosed price.

March 23, 2018

Acquisitions Multifamily Texas

Greysteel Negotiates Sale of Two Multifamily Properties in Dallas

by Taylor Williams March 23, 2018

DALLAS — Greysteel has negotiated the sale of The Bailiwick and Tree Top, two multifamily properties totaling 96 units in the Oak Lawn area of Dallas. The Bailiwick was built in 1972, totals 59 units and features a pool and laundry services. Tree Top was built in 1966 and features 37 units. Doug Banerjee, Boyan Radic, Andrew Mueller and Andrew Hanson of Greysteel arranged the sale, other terms of which were not disclosed.

March 23, 2018

Acquisitions Industrial Texas

Moody Rambin Arranges Sale of 19,200 SF Warehouse in Houston

by Taylor Williams March 23, 2018

HOUSTON — Moody Rambin has arranged the sale of a 19,200-square-foot warehouse situated on 1.4 acres at 3511 Jensen Drive on Houston’s north side. Zachary Taylor and Doyle Toups of Moody Rambin represented the buyer in the transaction. The seller and sales price were not disclosed.

March 23, 2018

Acquisitions Healthcare Oklahoma Texas Top Stories

OU Medicine Acquires HCA’s Interests in Oklahoma City Medical System for $1.1B

by Kristin Harlow March 23, 2018

OKLAHOMA CITY — OU Medicine Inc. has acquired interests in OU Medical System (OUMS), a series of hospitals and medical facilities in and around Oklahoma City. The buyer received nearly $1.1 billion in financing for the transaction. The seller was HCA Healthcare, which sold its full interest in the system. OU Medicine is an affiliate of University Hospitals Authority and Trust (UHAT). HCA Healthcare is a joint operating company operated by HCA and UHAT. OU Medicine, a newly formed 501(c)(3) corporation, completed the acquisition with a $900 million bridge financing and $175 million subordinated debt issuance. Proceeds from the combined nearly $1.1 billion financing were also used to provide liquidity on OU Medicine’s balance sheet, fund a portion of a bed tower expansion and redeem $42.4 million of outstanding UHAT bonds. The bridge financing included $673.4 million of tax-exempt direct purchase senior bonds and a $232.5 million taxable senior loan. UHAT retained Cain Brothers as its exclusive M&A advisor to negotiate the termination of the existing joint operating agreement with HCA. Cain Brothers also acted as financial advisor to assist in sourcing and structuring the bridge financing. OU Medicine was formed to own and operate OUMS, a health system of three …

March 23, 2018

Features Multifamily Seniors Housing Texas

NIC: Collaboration is the Future of Seniors Housing

by Katie Sloan March 23, 2018

The future of seniors housing is dependent on collaboration and cooperation between all the stakeholders in the industry, particularly operators and “senior care enablers,” according to Brian Jurutka, president and CEO of the National Investment Center for Seniors Housing & Care (NIC). The comments came during a question-and-answer session moderated by Mary Ann Donaghy, NIC’s chief marketing and communications officer, at the organization’s Spring Investment Forum, held March 7 to 9 in Dallas. NIC is a Maryland-based nonprofit association that provides data metrics on the seniors housing industry. Examples of senior care enablers include healthcare systems, home health providers, software companies and others who provide care outside of the standard offerings of a seniors housing community. “Historically we have been more focused on the real estate piece,” says Jurutka. “However, one of the components we think is important is that instead of seniors going to healthcare, healthcare will come to seniors. What that means is there are opportunities for value to be created for seniors housing communities.” Examples of such collaborations in action could include: Bringing home health aides into independent living communities to slow the transition to assisted living. Bringing rehabilitation and therapy providers into assisted living communities to …

March 23, 2018

Market Reports Multifamily Texas Texas Market Reports

Multifamily Occupancy Holds Firm in San Antonio Despite Record Deliveries in 2017

by Taylor Williams March 23, 2018

There’s no question that the San Antonio multifamily market has had the reputation of being the steady tortoise in a race against the more nimble Texas hares of Houston, Dallas and Austin. We all know how the fable ends — the hare, confident of an easy win, takes a nap while the tortoise secures victory. Could 2018 be the year that our “slow and steady” hero finds its place at the top of the Texas market performance? As it stands, the Alamo City is enjoying an apartment occupancy rate of 92.1 percent, which is flat on a year-over-year basis. But given the amount of new supply that entered the market in 2017 — a cycle-high 7,230 units — that’s a remarkable number. We ended 2017 with an average rent of $1.14 per square foot, which is flat compared to third-quarter figures, but that number still represents 3.64 percent growth from the $1.10 average from the fourth quarter of 2016. So what does it mean for the market’s immediate future? The San Antonio construction pipeline continues to be a focal point and as things progressed, there have been some surprises. While 2017 marked the cyclical peak for deliveries, and there has …

March 23, 2018

Acquisitions Industrial Texas

Binswanger Arranges Sale of 700,644 SF Grocery Distribution Center in Houston

by Taylor Williams March 22, 2018

HOUSTON — Philadelphia-based Binswanger has arranged the sale of a 700,644-square-foot grocery distribution center situated on 70.2 acres at 10700 Telge Road in Houston. The facility was formerly leased to Randalls, a grocer owned by Idaho-based Albertson’s that operates 44 stores in Texas. It includes 517,500 square feet of dry and perishable grocery warehouse space, 113,200 square feet of frozen warehouse space and 6,200 square feet of office space. Other features include 25- to 40-foot ceiling heights and an ESFR sprinkler system. Holmes Davis of Binswanger represented the seller, Albertsons Cos., in the transaction. Cory Driskill and Will Mundinger of Crow Holdings Industrial represented the buyer internally. Crow Holdings plans to expand the facility by developing three additional buildings on the site.

March 22, 2018

Acquisitions Multifamily Student Housing Texas

29th Street Acquires Two Student Housing Properties Totaling 1,249 Beds Near Texas State University

by Taylor Williams March 22, 2018

SAN MARCOS, TEXAS — 29th Street Capital (29SC) has acquired The Edge and The Lodge, two student housing properties totaling 1,249 beds near Texas State University (TXST) in San Marcos. The properties span 431 units and are located within a mile of TXST’s campus. Both feature amenities such as shuttle service to campus, fitness centers, pools, study rooms, salon services, sport courts, game rooms and dog parks. 29SC will invest more than $4 million in capital upgrades to both properties’ unit interiors and communal amenities. The seller and sales price were not disclosed.

March 22, 2018

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