Texas

Hartman Secures Three Office Leases Totaling 31,679 SF in Houston

by Taylor Williams November 14, 2017

HOUSTON — Hartman Income REIT has secured three office leases totaling 31,679 square feet at properties it owns in Houston. Property management firm Chaparral Management Co. Inc. signed a 12-month, 7,948 square feet at 14550 Torrey Chase Blvd.; Amegy Bank of Texas renewed a 13,912-square-foot lease at 400 N. Sam Houston Parkway E. for five years; and Greensheet Media leased 9,819 square feet at 2020 N. Loop West for five years. Hartman was represented internally by Rod Hale, Richard Maloof and Kacie Skeen, respectively, in each transaction.

November 14, 2017

Newcor Negotiates 26,819 SF Office Sublease in Metro Houston

by Taylor Williams November 14, 2017

THE WOODLANDS, TEXAS — Newcor Commercial Real Estate has negotiated a 26,819-square-foot office sublease at 8401 New Trails Drive in The Woodlands on behalf of Louisiana-based oil and gas firm Hunt Guillot & Associates LLC. Rob Banzhaf and Ryan Dierket of Newcor represented the tenant in the lease negotiations. Scott Covington of S.E. Covington represented the subtenant, Axiom Medical Consulting LLC.

November 14, 2017

Mixed-Use Texas

Mark IV to Develop $200M Mixed-Use Project in Metro Austin

by Taylor Williams November 13, 2017

ROUND ROCK, TEXAS — California-based Mark IV Capital will develop The District, a $200 million mixed-use project that will be located at the intersection of Interstate 35 and State Highway 45 in the Austin metro of Round Rock. The property will be situated on 65 acres and will feature more than 1 million square feet of commercial and residential space. Construction is expected to begin within the next 12 months.

November 13, 2017

Multifamily Texas

Napali Capital Acquires 164-Unit Apartment Community in Dallas

by Taylor Williams November 13, 2017

DALLAS — Southlake, Texas-based investment firm Napali Capital LLC has acquired Adira Apartment Homes, a 164-unit multifamily community located at 1301 W. Wheatland Road in Dallas. The 12-building property features amenities such as a playground, business center and an after-school program. Napali, which now owns six properties in Texas, will invest approximately $600,000 in capital improvements to the property’s landscaping and communal areas.

November 13, 2017

Industrial Lee & Associates Texas

Lee & Associates Negotiates 250,000 SF Industrial Lease in Fort Worth

by Taylor Williams November 13, 2017

FORT WORTH, TEXAS — Lee & Associates has negotiated a 250,000-square-foot industrial lease at 2900 Meacham Blvd. in Fort Worth on behalf of Woods Distribution Solutions, a Fort Worth-based industrial logistics firm. Built in 1991, the cross-dock property offers 24-foot clear heights, an ESFR sprinkler system and 6,000 square feet of office space. Becky Thompson of Lee & Associates represented the tenant and the landlord, 2900 Meacham LLC, in the lease negotiations.

November 13, 2017

Loans Multifamily Texas

Dougherty Closes $14.3M Acquisition Loan for 248-Unit Apartment Community in Houston

by Taylor Williams November 13, 2017

HOUSTON — Dougherty Funding LLC, an affiliate of Dougherty Mortgage LLC, has closed a $14.3 million loan for the acquisition of Quail Chase Apartments, a 248-unit multifamily community located at 500 W. Airtex Blvd. in Houston. The affordable housing property features a fitness center, business center, volleyball court, picnic area and on-site laundry facilities. Dougherty Funding served as the lead lender and servicer for the loan, which was secured on behalf of the borrower, Quail Chase Apartments LP.

November 13, 2017

Office Texas

Cushman & Wakefield Secures 68,263 SF Office Lease Renewal in Dallas

by Taylor Williams November 13, 2017

DALLAS — Cushman & Wakefield has secured a 68,263-square-foot office lease renewal at One McKinney Plaza, a 263,921-square-foot, Class A office property located at 3232 McKinney Ave. in Uptown Dallas. Craig Wilson, Randy Cooper, Dan Harris, and Wills Bauer of Cushman & Wakefield represented the tenant, ISNetworld, a Dallas-based human resources firm. The landlord, Gaedeke Group, was represented internally by Elliot Prieur.

November 13, 2017

Loans Multifamily Texas

Hunt Mortgage Provides $61.5M Refinancing for Three Multifamily Properties in Metro Houston

by John Nelson November 10, 2017

HOUSTON — Hunt Mortgage Group has provided three Fannie Mae loans totaling $61.5 million for the refinancing of three apartment communities in the metro Houston area. All three non-recourse bridge and permanent loans were for the same borrower, Charlie Yalamanchili and Ilan Investments LLC, a Houston-based commercial real estate and multifamily investor. The financing included a two-year, floating-rate loan for Ravello at Tuscan Lakes, a 244-unit community located at 1750 E. League City Parkway in League City; a 10-year loan with four years of interest-only payments and a 30-year amortization schedule for Breton Mill, a 392-unit property located at 13555 Breton Ridge St. in Houston’s Champions/Willowbrook submarket; and a 10-year loan with five years of interest-only payments and a 30-year amortization schedule for Champion Oaks, a 252-unit community also situated in the Champions/Willowbrook submarket. The Ravello loan included a $150,000 reserve for capital improvements, and the Breton Mill and Champion Oaks refinances were closed utilizing Fannie Mae’s Green Rewards program, which funded the borrower’s planned energy- and water utility-saving improvements. Colin Cross led Hunt Mortgage’s origination team in Dallas for the refinancings.

November 10, 2017

Mixed-Use Retail Texas

Oaxaca Interests to Develop Three New Retail Buildings at Sylvan | Thirty in West Dallas

by John Nelson November 10, 2017

DALLAS — Dallas-based Oaxaca Interests plans to develop three new retail buildings at Sylvan | Thirty, a mixed-use development at Sylvan and Fort Worth avenues in West Dallas. Each building will span 3,500 square feet. Oaxaca will also demolish an existing drive-thru bank, reconfigure the parking lot and update the exterior of the existing office building at Sylvan | Thirty. The design team includes architect Lake Flato and landscape architect Hocker Design Group. Sylvan | Thirty’s existing retail space is more than 75 percent leased to tenants such as TacoDeli, Cibodivino, Whisk Crepes, Houndstooth Coffee, Pink Pedi, Cox Farms Market, Sync Yoga & Wellbeing, Betty Ringer, Craft & Co. Salon, Vernacular, Arnold Brothers Dry Cleaner and Ten. Cooper’s Meat Market is anticipated to open next month. Oaxaca Interests plans to break ground on the three retail buildings in early 2018.

November 10, 2017

Multifamily Texas

Pollack Shores Buys New Apartment Community in Austin from Flournoy Development

by John Nelson November 10, 2017

AUSTIN, TEXAS — Atlanta-based Pollack Shores has purchased Eastside Station, a newly built, 330-unit apartment community in east Austin, in an off-market transaction. Pat Jones of ARA Newmark represented the seller and developer, Columbus, Ga.-based Flournoy Development. The mid-rise property is situated within walking distance of downtown Austin, the University of Texas campus, the 10-acre Plaza Saltillo project, Medical District, Main Street Hub, the future site of the Oracle Cloud Campus and Google’s and Facebook’s new offices. Community amenities include a rooftop lounge, resort-style pool, two-story lifestyle fitness center and a clubroom with a demonstration kitchen, cyber café and business center. Units include nine-foot ceilings, open-concept kitchens, spa-like bathrooms and walk-in closets.

November 10, 2017

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