FORT WORTH, TEXAS — A partnership between Thrive Senior Living and Orison Holdings has broken ground on Encore at Heritage-Glen, a 75-unit seniors housing project that will be located in the Alliance submarket of North Fort Worth. Arrive Architecture Group designed the property, which will feature 50 assisted living units and 25 memory care units. The groundbreaking of Encore at Heritage-Glen follows closely behind the announcement of the International at Aventura, Thrive Senior Living’s latest development in Florida.
IRVING, TEXAS — Southwest Networks Inc. has signed a 12,888-square-foot industrial lease near Dallas-Fort Worth International Airport in Irving. The provider of cable communication services is relocating from nearby Grand Prairie to Las Colinas Distribution Center 5, an 80,900-square-foot building that was originally built in 1981. Maddy Coffman and Canon Shoults of Holt Lunsford Commercial represented the tenant in the lease negotiations. Bradford Commercial Real Estate Services represented the landlord.
KATY, TEXAS — Poag Development Group has welcomed four new tenants to LaCenterra at Cinco Ranch, an open-air shopping center located in the western Houston suburb of Katy. Houston TX Hot Chicken leased 4,065 square feet and is now open for business. Fidelity Investments (8,000 square feet), The Salty Donut (1,329 square feet) and Chewy Vet Care (3,002 square feet) are all scheduled to open before the end of the year. JLL represented ownership in all four sets of lease negotiations.
FORT WORTH, TEXAS — Southwire, a Georgia-based manufacturer of wire and cable used in the transmission and distribution of electricity, has opened its 1.2 million-square-foot distribution and customer service center at AllianceTexas in North Fort Worth. The facility is housed within Alliance Westport 25, which was originally launched as a 1 million-square-foot speculative building in August 2022 and subsequently expanded to meet Southwire’s requirements. At peak operational capacity, about 250 people are expected to be employed at the facility, which will also feature modernized storage solutions and automated material handling. Southwire first committed to Alliance Westport 25 in summer 2023.
FORT WORTH, TEXAS — Dallas-based Palladium USA will develop a 243-unit mixed-income multifamily project in Fort Worth. Select units at Palladium City Skyline, which will be developed in partnership with the Fort Worth Housing Finance Corp. (FWHFC), will be reserved for households earning up to 30, 60, 70 and 80 percent of the area median income. Amenities will include indoor and outdoor children’s play areas, a fitness center, pool and dog run. Arrive Architecture Group designed the project, and Treymore Construction is serving as the general contractor. The Texas Department of Housing & Community Affairs provided a $6 million direct loan for the project, as well as $30 million in tax-exempt bonds and approximately $30 million in 4 percent Low-Income Housing Tax Credits. Regions Bank also provided $27 million in equity and $30 million of long-term debt. Palladium City Skyline’s first units are expected to be available for occupancy in early 2026.
AUSTIN, TEXAS — Benefit Street Partners has funded a $48.7 million bridge loan for the refinancing of the 212-room Cambria Hotel Austin Downtown hotel. The 16-story, 223,975-square-foot hotel opened last fall. Amenities include a pool, fitness center, 24-hour market and 15,000 square feet of meeting/event space, as well as a fifth-floor restaurant and bar and a rooftop bar and lounge. Charlie Ryan of Atlanta-based Hunter Hotel Advisors arranged the loan on behalf of the borrower, a partnership between an affiliate of California-based Stratus Development Partners and Maryland-based operator Choice Hotels International Inc.
SAN ANTONIO — PACE Equity has provided $5.1 million in C-PACE (commercial property-assessed clean energy) financing for The Travis Building, an apartment building in downtown San Antonio. According to Apartments.com, the Travis Building was redeveloped in 2023 and offers one- and two-bedroom unit, as well as amenities such as a fitness center, business center and onsite laundry facilities. The borrower was not disclosed.
MONTGOMERY, TEXAS — Direct Air Flow Distributors has signed a 13,200-square-foot industrial lease in Montgomery, about 55 miles north of Houston. According to LoopNet Inc., the single-tenant building at 18904 Freeport Drive was built in 2012. Travis Land and Braedon Emde of Partners Real Estate represented the landlord, Kudzu Construction & Development, in the lease negotiations. Griffin Rich of Newmark represented the tenant.
FORT WORTH, TEXAS — Dallas-based investment firm CanTex Capital has refinanced Sylvania Industrial Park, an 893,738-square-foot manufacturing facility in Fort Worth. Sylvania Industrial Park sits on 55 acres and was leased to 15 tenants at the time of the loan closing, including Tyson Foods, TK Airport Solutions, JR New Energy and Andes Coil Processors. Jim Curtin, Jarrod McCabe, Luke Rogers and Jordan Buck of JLL arranged the three-year, floating-rate loan through MetLife Investment Management on behalf of CanTex Capital. The loan amount was not disclosed.
AUSTIN, TEXAS — Multifamily developer Housing Trust Group has broken ground on Red Oaks, a $26 million affordable housing project in North Austin. The property will have 70 units in studio, one- and two-bedroom formats that will be reserved for households earning between 30 and 60 percent of the area median income. The Texas Department of Housing & Community Affairs issued $16 million in Low-Income Housing Tax Credits for the project, and Bank of America provided a $15.6 million construction loan. Berkadia originated a $7 million Freddie Mac permanent loan, and the Austin Housing Finance Corp. contributed a $4 million RDHA loan. Preleasing at Red Oaks is scheduled to begin in fall 2025.