Texas

CBRE Arranges Sale of 243,337 SF Macy’s at West Oaks Mall in Houston

by Taylor Williams January 16, 2018

HOUSTON — CBRE has arranged the sale of Macy’s at West Oaks Mall, a 243,337-square-foot retail property situated on 18 acres at the corner of Westheimer Boulevard and State Highway 6 in Houston. 1st Emporium Inc., the retail division of digital investment firm Mehta Investments, purchased the two-building asset from Macy’s Holdings for an undisclosed price. The buyer, which also purchased the remainder of the mall in 2017, plans to redevelop the space into a department store that will be branded The Outlet at West Oaks. That store, which will specialize within clothing and home goods, is expected to open in the next six months. The first committed retailer to join The Outlet at West Oaks will be Formal Gallery, a formal dress shop. Brian Ashby and Sydney Dixon of CBRE represented Macy’s Holdings in the transaction.

January 16, 2018

Arch-Con Breaks Ground on 170-Room SpringHill Suites Hotel in Fort Worth

by Taylor Williams January 16, 2018

FORT WORTH, TEXAS — General contractor Arch-Con Construction, in collaboration with developer Oldham Goodwin Group LLC, has broken ground on a 170-room SpringHill Suites hotel in Fort Worth. The hotel will be located at the site of the recently demolished Wells Fargo Building near Fort Worth’s historic Stockyards area. Designed by Atlanta-based architecture firm Niles Bolton Associates and Dallas-based interior design firm Studio 11 Design, the property will total 133,000 square feet and feature a rooftop restaurant, first-floor wine bar, pool and three ballrooms. Completion is slated for early 2019.

January 16, 2018

Multifamily Texas

Caldwell Cos. to Develop 330-Unit Apartment Community in Metro Houston

by Taylor Williams January 16, 2018

SPRING, TEXAS — Caldwell Cos. will develop Lakeview Oaks, a 330-unit multifamily community at the corner of Gosling Road and FM 2920 in the northern Houston metro of Spring. The Class A property will be situated adjacent to the site of a new H-E-B grocery store. Community amenities will include a resort-style pool, community center, coffee bar and a fitness center. Construction is expected to begin early this year with units becoming available for occupancy in 2019.

January 16, 2018

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 496-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams January 16, 2018

FRISCO, TEXAS — Marcus & Millichap has brokered the sale of Storage Solutions of Frisco, a 496-unit self-storage facility located at 6707 Eldorado Parkway in the northern Dallas metro of Frisco. The property, which consists of 212 climate-controlled units and 280 non-climate drive-up units, features perimeter fencing, personalized keypad entry and fire protection systems. Brandon Karr of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, an undisclosed corporation.

January 16, 2018

Multifamily Texas

Orion Acquires 199-Unit, Value-Add Apartment Community in Austin

by Taylor Williams January 16, 2018

AUSTIN, TEXAS — Los Angeles-based Orion Real Estate Partners has acquired Triple Crown 2 Apartments, a 199-unit, value-add multifamily community in Austin. Built in 1973, the property is located at 1212 Westheimer Drive, approximately 4.5 miles from the University of Texas at Austin and 5.5 miles from downtown. CBRE arranged a 10-year acquisition loan through Fannie Mae’s Green Financing program on behalf of Orion for the transaction.

January 16, 2018

Loans Multifamily Texas

Berkadia Secures $41M in Refinancing for 381-Unit Apartment Property in Fort Worth

by Taylor Williams January 15, 2018

FORT WORTH, TEXAS — Berkadia has secured a $41 million loan for the refinancing of Mansions at Timberland, a 381-unit multifamily property located at 11401 N. Riverside Drive in Fort Worth. The property features a mix of one- and two-bedroom units and amenities such as a saltwater pool, outdoor grilling areas, business center and a fitness center. Stewart Campbell of Berkadia secured the Fannie Mae loan, which features a 75 percent loan-to-value (LTV) ratio and a 30-year amortization schedule, on behalf of the borrower, Mansions at Timberland LP.

January 15, 2018

Multifamily Texas

S2 Capital Purchases 332-Unit Apartment Community in Fort Worth

by Taylor Williams January 15, 2018

FORT WORTH, TEXAS — Addison, Texas-based investment firm S2 Capital LLC has purchased Oakland Hills Apartments, a 332-unit multifamily community located at 807 Heights Drive in east Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, grilling areas and on-site laundry facilities. Mark Brandenburg of JLL arranged acquisition financing for the sale through Benefit Street Partners, a New York-based asset management firm.

January 15, 2018

Industrial Oklahoma Texas

ATCAP Acquires 16-Building, 1 MSF Industrial Portfolio in Dallas, Oklahoma City

by Taylor Williams January 15, 2018

DALLAS AND OKLAHOMA CITY — Dallas-based investment firm ATCAP Partners has acquired a portfolio of 16 industrial buildings totaling approximately 1 million square feet. The purchase of the properties, which are located in Dallas and Oklahoma City, brings ATCAP’s volume of industrial acquisitions over the last two months to more than 2 million square feet. Brian Carlton of HFF arranged acquisition financing for the sale through Global Atlantic Financial Group.

January 15, 2018

Office Texas

Law Firm Signs 77,015 SF Office Lease Renewal, Expansion in Downtown Houston

by Taylor Williams January 15, 2018

HOUSTON — Law firm Jackson Walker has signed a 77,015-square-foot office lease renewal and expansion at 5 Houston Center, a 580,000-square-foot, Class A office property in downtown Houston. The lease includes a renewal of the existing 74,094 square feet occupied by the firm and an expansion of 2,921 square feet. Eric Anderson and Tyler Garrett of Transwestern represented the landlord, Spear Street Capital, in the lease negotiations. Tim Relyea of Cushman & Wakefield represented Jackson Walker.

January 15, 2018

Industrial Texas

NAI Partners Arranges Sale of 13,361 SF Industrial Property in Metro Houston

by Taylor Williams January 15, 2018

HUMBLE, TEXAS — NAI Partners has arranged the sale of a 13,361-square-foot industrial property located at 6425 and 6435 Storey Drive in the northeastern Houston metro of Humble. Joel Michael of NAI Partners represented the buyer, industrial contractor Persons Development & Construction Services LLC, in the transaction. Other terms of sale were not disclosed.

January 15, 2018

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