Texas

Titan Development Breaks Ground on 72-Acre Business Park in Metro Austin

by Taylor Williams November 21, 2017

HUTTO, TEXAS — Titan Development has broken ground on Innovation Business Park, a 72-acre industrial development that will be located in Hutto, a northern suburb of Austin. Phase I of the project will deliver a facility measuring approximately 150,000 square feet, which will have the capacity to house one to four tenants. The project will feature more than 1 million square feet of rentable space at full build-out. Titan will invest about $100 million in the development of the park, according to Community Impact Newspaper.

November 21, 2017

HFF Arranges $64.4M Financing for 543,544 SF Office Campus in Austin

by Taylor Williams November 21, 2017

AUSTIN, TEXAS — HFF has arranged $64.4 million in financing for Amber Oaks, a 543,544-square-foot, Class A office campus in Austin. The nine-building property is located adjacent to State Highway 45 and offers access to U.S. Highway 183 and Interstate 35. The campus was 93 percent leased at the time of sale to tenants such as Oracle, Office Depot and Toshiba America. Kevin MacKenzie, Casey Wenzel, Jamie Kline and Nick Lench of HFF arranged the financing through Wells Fargo on behalf of California-based investment firm Menlo Equities.

November 21, 2017

Multifamily Seniors Housing Texas

CA Acquires Three Seniors Housing Communities in Northern Dallas Area

by Taylor Williams November 21, 2017

DENTON, PLANO AND MCKINNEY, TEXAS — Chicago-based investment firm CA Senior Living LLC has acquired three seniors housing communities totaling 308 units in northern Dallas suburbs. The company acquired The Village Assisted Living and Memory Care, a 108-unit community in Denton; The Village at Mapleshade, a 92-unit property in Plano; and The Village at Stonebridge, a 108-unit asset in McKinney. All three properties offer assisted living units and the Denton and McKinney communities also offer memory care units. CA Senior Living now owns 14 communities totaling roughly 1,700 units in various stages of development throughout Texas.

November 21, 2017

Office Texas

Cushman & Wakefield Negotiates 152,086 SF Office Lease in Irving for Tech Firm

by Taylor Williams November 21, 2017

IRVING, TEXAS — Cushman & Wakefield has negotiated a 152,086-square-foot office lease at 6011 Connection Drive within the Las Colinas district in Irving. Gartner Inc., a Connecticut-based technology research and advisory firm will occupy the entire building through 2034. Andy May, Matt Heidelbaugh and Amber Roberts of Cushman & Wakefield represented Gartner in the lease negotiations. Joel Pustmueller and Sarah Hinkley of Peloton Commercial Real Estate represented the landlord, Piedmont Office Realty Trust.

November 21, 2017

Retail Texas

STRIVE Brokers Sale of 45,804 SF Shopping Center in Metro Dallas

by Taylor Williams November 21, 2017

RED OAK, TEXAS — STRIVE has brokered the sale of Sierra Marketplace, a 45,804-square-foot shopping center located at 132 E. Ovilla Road in Red Oak, about 20 miles south of Dallas. The center was 100 percent leased at the time of sale to tenants such as Anytime Fitness, Dollar Tree and Jackson Hewitt Tax Services. The buyer and seller were not disclosed, but both parties are based in Texas.

November 21, 2017

Office Texas

PRP Acquires 264,000 SF Office Building Leased to FedEx in Plano’s Legacy West

by Taylor Williams November 20, 2017

PLANO, TEXAS — Washington, D.C.-based investment firm PRP LLC has acquired a 264,000-square-foot office building located at 7900 Legacy Drive in Plano. Situated within the 250-acre Legacy West development, the Class A property is fully leased to FedEx and serves as the company’s office and print services global headquarters. PRP acquired the asset in a joint venture with AXA Investment Managers — Real Assets, a subsidiary of French multinational firm AXA. Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill of CBRE represented the seller, KDC Real Estate Developments and Investments, in the disposition of the asset.

November 20, 2017

Multifamily Student Housing Texas

JV to Develop 687-Bed Student Housing Property in Arlington

by Taylor Williams November 20, 2017

ARLINGTON, TEXAS — A joint venture between Dallas-based Fountain Residential Partners and HC2 Capital LLC will develop 8FOUR8 Mitchell, a 687-bed student housing property that will be located on West Mitchell Street just west of Cooper Street near the University of Texas at Arlington. The property’s 298 units will consist of a mix of one-, two-, three-, four- and five-bedroom residences. Amenities will include a resort-style pool, a 9,000-square-foot clubhouse with a fitness center and multiple private study rooms. Stuart Roosth Architects designed the property. The general contractor, Temple-based MW Builders Inc., expects to complete the project in time for the fall 2019 semester.

November 20, 2017

Multifamily Texas

Electra America Acquires 366-Unit Apartment Community in San Antonio

by Taylor Williams November 20, 2017

SAN ANTONIO — Florida-based multifamily operator Electra America has acquired Firewheel Apartments, a 366-unit multifamily community located at 6155 Eckhert Road in San Antonio’s North Hampton neighborhood. Built in 2014, the property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, a pet park, 24-hour fitness center, business center and a gaming lounge with a coffee bar. Electra America purchased the property from HPI Residential. Berkadia arranged acquisition financing for the transaction.

November 20, 2017

Multifamily Texas

Mason Joseph Secures $42M Construction Loan for 223-Unit Apartment Asset in San Antonio

by Taylor Williams November 20, 2017

SAN ANTONIO — Mason Joseph Co. Inc. has secured a $42 million loan for the construction and permanent financing of Brewery South, a 223-unit apartment property located at in the Riverwalk area of San Antonio. Local investment and development firm Silver Ventures is developing the property, which will also be situated adjacent to the Pearl Brewery, a retail and entertainment redevelopment. The U.S. Department of Housing and Urban Development (HUD) provided the nonrecourse loan, which features a fixed interest rate through the 23-month construction period and subsequent 40-year term, through its 221(d)(4) program.

November 20, 2017

Loans Multifamily Texas

Hunt Mortgage Closes $11.1M Refinancing of 300-Unit Apartment Community in Houston

by Taylor Williams November 20, 2017

HOUSTON — Hunt Mortgage Group has secured $11.1 million in refinancing for Pine Creek Apartments, a 300-unit multifamily community located at 470 Maxey Road in Houston. Property amenities include two pools, a playground, three laundry facilities, a sports court and a resident clubhouse. Hunt Mortgage secured the funds on behalf of Elandis, a Miami-based investment and development firm, which acquired the property in 2016.

November 20, 2017

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