Texas

WaterWalk Breaks Ground on 153-Unit Multifamily Property in Richardson

by Taylor Williams November 27, 2017

RICHARDSON, TEXAS — Kansas-based development firm WaterWalk has broken ground on WaterWalk Richardson, a four-story, 153-unit multifamily property at 2210 N. Glenville Drive in the northeastern Dallas metro of Richardson. The property will offer the services and amenities of an upscale hotel, such as a coffee bar, media room and lobby. Wichita-based The Law Co. is serving as general contractor on the project, and Dallas-based Woolpert is the architect and civil engineer. The expected completion date is November 2018.

November 27, 2017

Greystar Completes 355-Unit Apartment Community in Austin

by Taylor Williams November 27, 2017

AUSTIN, TEXAS — Greystar has completed Platform, a 355-unit multifamily community located at 2823 E. Martin Luther King Jr. Blvd. in Austin. Designed by Meeks + Partners, the transit-oriented property incorporates three- and four-story apartments, as well as three-story townhomes and roughly 10,000 square feet of ground-floor retail space. Amenities include three pools, an outdoor kitchen and TV lounge, private workspaces, a social dining and bar area and a fitness center.

November 27, 2017

Industrial Texas

JLL Arranges Sale of 454,408 SF Distribution Center in Metro Dallas

by Taylor Williams November 27, 2017

DESOTO, TEXAS — JLL has arranged the sale of Eagle Park 20/35, a 454,408-square-foot distribution center located at 1240 E. Centre Park Blvd. in the Dallas metro of DeSoto. The Class A facility is situated on 29.5 acres and features access to Interstates 20 and 35. Dustin Volz and John Huguenard of JLL represented the seller, a joint venture between Ridgeline Property Group and Stockbridge Capital Group, and procured the buyer, an undisclosed institutional investor.

November 27, 2017

Industrial Self-Storage Texas

SST IV Acquires 480-Unit Self-Storage Facility in Texas City

by Taylor Williams November 27, 2017

TEXAS CITY, TEXAS — Strategic Storage Trust IV Inc. (SST IV), a public, non-traded REIT, has acquired a 480-unit self-storage facility located at 3730 Emmett F. Lowry Expressway in Texas City, about 45 miles southeast of Houston. Built in 2010, the 8,000-square-foot facility is situated on 10.5 acres and offers climate-controlled interiors and drive-up access. The property was approximately 95 percent occupied at the time of sale.

November 27, 2017

Retail Texas

STRIVE Brokers Sale of Retail Pad Site Leased to Dairy Queen in Houston

by Taylor Williams November 27, 2017

HOUSTON — STRIVE has brokered the sale of a retail property leased to Dairy Queen in Houston. The property is a pad site to Mount Houston Square Shopping Center, a 175,000-square-foot retail center located on the city’s north side. Jason Vitorino of STRIVE represented the seller, an Atlanta-based developer, and procured the buyer, a Houston-based investor. Other terms of sale were not released.

November 27, 2017

Healthcare Texas

Medistar to Develop 555,000 SF, Class A Medical Office Tower in Houston

by Taylor Williams November 22, 2017

HOUSTON — Medistar Corp. will develop a 550,000-square-foot, Class A medical office tower at 6700 Main St. in Houston, adjacent to the Texas Medical Center. The site previously housed a Best Western hotel, which will soon be demolished. The property will feature an oversized parking garage and an undetermined amount of ground-floor retail space, in addition to space for both physicians and healthcare providers. A timetable for completion has not yet been established.

November 22, 2017

Office Texas

CBRE Brokers Sale of 232,389 SF Office Building in Dallas

by Taylor Williams November 22, 2017

DALLAS — CBRE has brokered the sale of Hidden Grove at 12404 Park Central, a 232,389-square-foot office building located in the Park Central area on Dallas’ north side. The Class A property was 99.8 percent leased at the time of sale. A partnership between Reserve Capital Partners and Trinity Private Equity Group purchased the asset from Red River Asset Management for an undisclosed price. John Alvarado, Gary Carr, Eric Mackey, Evan Stone, Jared Chua and Robert Hill of CBRE represented the seller in the transaction. Nora Hogan of Transwestern represented the buyer.

November 22, 2017

Multifamily Texas

GFI Acquires 277-Unit Apartment Community Within McKinney’s Craig Ranch

by Taylor Williams November 22, 2017

MCKINNEY, TEXAS — New York-based GFI Capital Resources Group has acquired Venue Craig Ranch, a 277-unit multifamily community located within the Craig Ranch master-planned community in McKinney. Developed by Davis Development, the property features a mix of one-, two- and three-bedroom units across seven buildings. Amenities include a pool, fitness center, a game room, putting green and pet park. The property was 87 percent occupied at the time of sale.

November 22, 2017

Loans Multifamily Texas

Arbor Arranges $9.6M in Refinancing for Three Apartment Communities in Houston

by Taylor Williams November 22, 2017

HOUSTON — Arbor Realty Trust Inc. has arranged $9.6 million in refinancing for three apartment communities in Houston. The company secured a $4.5 million loan for the 180-unit Whispering Oaks Apartments on the city’s southwestern side; a $2.8 million loan for the 90-unit Coventry North Apartments on the city’s southeastern side; and a $2.3 million loan for the 80-unit Leawood Plaza Apartments, also on the city’s southwestern side. All three loans were placed through Freddie Mac’s Small Balance Loan program and feature seven-year terms, fixed interest rates and 30-year amortization schedules.

November 22, 2017

Industrial Texas

NAI Partners Negotiates 57,000 SF Industrial Lease in Metro Houston

by Taylor Williams November 22, 2017

MISSOURI CITY, TEXAS — NAI Partners has negotiated a 57,000-square-foot industrial lease at 13615 S. Gessner Road in the southwestern Houston metro of Missouri City. Chris Caudill of NAI Partners represented the tenant, 2020 Exhibits Inc., a provider of trade show and event management services, in the lease negotiations. Justin Robinson and Jeremy Lumbreras of Stream Realty Partners represented the landlord, Western C REIT TX LLC.

November 22, 2017

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