Texas

FourPoint Brokers Sale of Three Student Housing Assets Totaling 815 Beds in DFW Area

by Taylor Williams February 14, 2018

DENTON, ARLINGTON AND FORT WORTH, TEXAS — FourPoint Student Housing Investments has brokered the sale of a portfolio of three student housing properties totaling 815 beds in Denton, Arlington and Fort Worth. The portfolio consists of the 432-bed Midtown Denton, the 218-bed Midtown Arlington and the 165-bed Edge 55. The properties, which total 241 units, serve University of North Texas, University of Texas at Arlington and Texas Christian University, respectively. The seller of the portfolio was not disclosed. A partnership between two California-based student housing investment firms, RedBridge Capital and Juniper Ridge Partners, purchased Midtown Arlington and Edge 55 and will implement renovation programs at both properties. The buyer of Midtown Denton was not disclosed.

February 14, 2018

Industrial Texas

HFF Raises $40M in Capital for Development of 1 MSF Industrial Project in Irving

by Taylor Williams February 14, 2018

IRVING, TEXAS — HFF has raised $40 million in capital for the development of Phase I of DFW Commerce Center, a 1 million-square-foot industrial project being built on land owned by Dallas-Fort Worth International Airport in Irving. The overall project will consist of four buildings totaling 2.8 million square feet upon completion. Phase I will deliver a cross-dock distribution and warehouse building with 40-foot clear heights, 184 dock doors and significant overflow parking. Joe Thornton, Adam Herrin and Stephen Bailey of HFF arranged the funds on behalf of the developer, Copeland Commercial LLC. Completion of Phase I is expected to occur within 11 to 12 months of the groundbreaking, which occurred in late January.

February 14, 2018

Retail Texas

Whole Foods 365 to Open 30,000 SF Store Within Saltillo Development in Austin

by Taylor Williams February 14, 2018

AUSTIN, TEXAS — Whole Foods Market 365 will open a 30,000-square-foot store within Saltillo, a 10-acre mixed-use development in east Austin. The concept joins retailers such as Tarka Indian Kitchen, Epoch Coffee and Stout Burgers & Beers at Saltillo, which is being jointly developed by Austin-based Endeavor Real Estate Group and Dallas-based Columbus Realty Partners. The store is scheduled to open during the second half of 2019 and will be the third 365 location in Texas.

February 14, 2018

Multifamily Texas

Sterling Acquires 111-Unit Apartment Community in San Antonio

by Taylor Williams February 14, 2018

SAN ANTONIO — Sterling Real Estate Holdings, a joint venture between California-based investment firms Barker Pacific Group and Pacific Real Estate Apartments, has acquired La Fiesta Apartments in San Antonio. Built in 1970, the 111-unit property is located in the Alamo Heights neighborhood. Amenities include picnic areas, a pool, on-site laundry facilities and a garden courtyard. Sterling will invest in capital improvements to the property’s landscaping and common areas. The seller was not disclosed.

February 14, 2018

Industrial Texas

Power Company Leases 110,000 SF at Industrial Property in Metro Houston

by Taylor Williams February 14, 2018

PASADENA, TEXAS — Calpine Corp., a Houston-based power company, has leased 110,000 square feet at an industrial property located at 9311 Bay Area Blvd. in the Houston metro of Pasadena. The property was built in 2008 and consists of 219,000 square feet of net rentable space, according to CoStar Group. Lucian Bukowski of CBRE represented Calpine Corp. in the lease negotiations. The representative of the landlord, Bay Bluff LP, was not disclosed.

February 14, 2018

Hospitality Texas

NewcrestImage Begins Redevelopment of 195-Room AC Hotel by Marriott in Houston

by Taylor Williams February 13, 2018

HOUSTON — Dallas-based hospitality developer and operator NewcrestImage has begun the redevelopment of the 195-room AC Hotel by Marriott in Houston. The building was originally developed in 1914 and has served as the headquarters for Gulf Oil, Texas National Bank of Commerce and The Houston Bar Center over the years. Upon completion, the 10-story property will feature a fitness center, business center and a cocktail lounge and dining area, as well as4,000 square feet of meeting and ballroom space. The opening is slated for summer 2019. Arch-Con Construction is serving as general contractor.

February 13, 2018

Industrial Self-Storage Texas

Bellomy Arranges Sale of 306-Unit Self-Storage Facility in Metro Houston

by Taylor Williams February 13, 2018

KATY, TEXAS — Bellomy & Co. has arranged the sale of Saums Road Self Storage, a self-storage facility in the Houston metro of Katy that features 306 units across 27,270 square feet of net rentable space. The sale includes additional land for expansion. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed seller and procured the undisclosed buyer, both of which are based in Texas.

February 13, 2018

Loans Multifamily Texas

NXT Capital Provides $32.5M Acquisition Loan for Apartment Community in Plano

by Taylor Williams February 13, 2018

PLANO, TEXAS — NXT Capital has provided a $32.5 million loan for the acquisition of a 278-unit, Class B apartment community in Plano. The undisclosed property features multiple pools, on-site laundry services, a tennis court, picnic area and a mail center. Suzanne Jones of NorthMarq Capital placed the loan with NXT Capital. Loan terms and the borrower were not disclosed.

February 13, 2018

Office Texas

NAI Partners Negotiates 18,463 SF Office Lease in Houston

by Taylor Williams February 13, 2018

HOUSTON — NAI Partners has negotiated an 18,463-square-foot office lease at 515 Post Oak Blvd. in Houston. Dan Boyles and Liz Westcott-Brown of NAI Partners represented the tenant, Greater Houston Community Foundation, a networking firm for philanthropists, in the lease negotiations. Richard Barbles of Stream Realty represented the landlord, 515 Post Oak Owner LP.

February 13, 2018

Retail Texas

Retail Solutions Brokers Sale of 13,750 SF Strip Retail Center in Metro Austin

by Taylor Williams February 13, 2018

PFLUGERVILLE, TEXAS — Retail Solutions has brokered the sale of Creekside at Dessau, a 13,750-square-foot strip retail center located at 16051 Dessau Road in the Austin metro of Pflugerville. Built in 2009, the center is leased to tenants such as Baylor Scott & White, Tree House Kids and Moi Vietnamese Grill. Alan Rust of Retail Solutions represented the seller in the transaction and Steve Tong of Home Direct Realty represented the buyer. Both requested anonymity.

February 13, 2018

Newer Posts

Older Posts