DALLAS AND DESOTO, TEXAS — Greystone has secured the $19 million refinancing of two undisclosed seniors housing assets located in Dallas and nearby suburb DeSoto. The properties, which total 500 units, represent affordable housing options for seniors earning 60 percent or less of the area median income (AMI). Both loans were secured through Freddie Mac’s Targeted Affordable Housing (TAH) Express program.
AUSTIN, TEXAS — A partnership between Atlanta-based Cousins Properties (NYSE: CUZ), Riverside Resources and Ironwood Real Estate will develop 300 Colorado, a 309,000-square-foot office tower that will be located in downtown Austin. Total development costs of the project are anticipated to be about $175 million. The property will be situated across the street from Cousins’ Colorado Tower, a 373,334-square-foot office asset. The property is 100 preleased to independent oil and gas firm Parsley Energy Inc., which has signed a 12-year, 302,000-square-foot lease; and restaurant Del Frisco’s, which has signed a 10-year, 7,000-square-foot lease. The partnership expects to begin construction in December and deliver the building in December 2020.
DALLAS — A partnership between Goldman Sachs Asset Management (GSAM) and Crescent Real Estate LLC will redevelop 2401 Cedar Springs, a 200,000-square-foot office building located in the Uptown area of Dallas that it recently acquired from Guidestone Financial Resources. Jack Crews of JLL represented Guidestone in that sale. The single-tenant property was built in 1989 and will soon be vacant. The redevelopment project will focus on the building’s exterior façade and lobby and will deliver new amenities while modernizing the tenant spaces and common areas. A timetable for completion of the project has not yet been established.
SAN ANTONIO — Canadian investment firm Western Wealth Capital (WWC) has acquired Sedona Canyon, a 296-unit multifamily community located at 4620 Thousand Oaks Drive in northeast San Antonio. The sales price was approximately $19.5 million. Built in the 1980s, the property offers amenities such as a pool, fitness center, tennis court, business center and resident clubhouse. The sale marks WWC’s third acquisition of a multifamily asset in San Antonio.
HOUSTON — HFF has brokered the sale of 5757 Woodway, a 162,188-square-foot office property situated on four acres in Houston’s Galleria neighborhood. Dan Miller and Marty Hogan of HFF represented the seller, a joint venture sponsored by Fuller Realty Partners and Harbert Management Corp., and procured the buyer, Houston-based Braun Enterprises. The property was 70 percent leased at the time of sale to tenants spanning the finance, healthcare, communication, technology and education sectors.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged an office lease at Regency Office Center in Austin. Mood Media, a provider of interactive mobile marketing solutions, will occupy 55,000 square feet at the property, which will serve as its new headquarters. ECR represented the landlord in the lease negotiations. Sam Pruitt and Jeff Sheehan of Site Selection Group represented Mood Media.
GRAPEVINE, TEXAS — JPI has begun construction on Jefferson Silverlake, a 371-unit apartment community located at State Highway 26 and Bass Pro Drive in Grapevine. Units will feature 10-foot ceilings, modern cabinetry and full-sized washers and dryers in all units. Community amenities will include a resort-style pool, Wi-Fi in common areas, concierge services and a fitness center with a yoga studio. Jefferson Silverlake will be situated near the future U.S. headquarters for Kubota Tractor and future TEX Rail Grapevine Main Street station.
DALLAS — Trammell Crow Co. and joint venture partner MetLife have signed international law firm Winston & Strawn LLP to a 56,000-square-foot lease at Park District in Uptown Dallas. Situated adjacent to Klyde Warren Park, Park District is a 916,000-square-foot mixed-use project that features a 20-story office tower and 34-story residential tower, both of which include ground-floor retail space. PwC is the anchor tenant of the office tower, dubbed PwC Tower at Park District. Upon completion the building will feature four levels of below-grade parking, an executive lounge, fitness facility, collaborative workspaces, on-site restaurants, outdoor amenity spaces and on-site banking and valet. HKS is the project architect and the development team is seeking LEED Gold-certification for the office tower. Dennis Barnes, Clay Gilbert and Shannon Brown with CBRE’s Dallas office represented Trammell Crow and MetLife in the lease transaction. Phil Puckett, Harlan Davis and Neal Puckett, also with CBRE’s Dallas office, and Nancy Pacher of CBRE’s Chicago office, represented Winston & Strawn, which will occupy floors eight and nine of the 500,000-square-foot tower in the second quarter.
HUMBLE, TEXAS — Archway Properties plans to develop Park Air 59, a 111-acre mixed-use project located along U.S. Highway 59 in Humble, roughly 20 miles northeast of Houston near George Bush International Airport. The project’s first build-to-suit is currently under construction on a 4.2-acre tract at the junction of U.S. Highway 59 and Will Clayton Parkway. Archway is developing a 65,000-square-foot, three-story medical office building for Vital Heart & Vein, a cardiology practice based in Houston. The clinic is set to open this summer. Austin Alvis of Houston-based NewQuest Properties and Preston Cunningham of Cunningham Ventures are marketing Park Air 59 and co-brokered the land sale to the cardiology group. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the cardiology group in its site acquisition. Houston-based Archway has assembled the acreage over the last several years for Park Air 59, which upon completion will include medical, retail, restaurants, industrial and additional service-based tenants.
WILMER, TEXAS — Bob Moore Construction has completed Interpoint Distribution Center, a 350,000-square-foot industrial facility located at 3800 N. Interstate 45 in Wilmer, roughly 15 miles southwest of Dallas. The developer, Houston-based Skyhawk Partners, purchased the site along with J.A. Billip Co. Other members of the project team include leasing agent Colliers International and architect Alliance Architects. The facility is situated near the Union Pacific Intermodal and near facilities leased to FedEx, Procter & Gamble, Amazon and Shippers Warehouse.