SAN ANTONIO — Houston-based DC Partners will develop The Thompson Riverwalk Hotel & Condos, a 167-room hotel in San Antonio that will feature 66 residential units in floors 12 through 19 known as The Arts Residences. San Antonio-based Universal Service Group will co-develop the 20-story property, which has an estimated cost of $116 million, according to local publication The Rivard Report. Amenities will include a rooftop bar and lounge and more than 6,900 square feet of meeting space.
ROCKWALL, TEXAS — Lollicup USA Inc., a Chino, Calif.-based producer and distributor of beverage and paper products, will develop a $50 million, 700,000-square-foot manufacturing facility in Rockwall, about 25 miles east of Dallas. The project is expected to create approximately 200 new positions. Construction is scheduled to begin by November, with completion slated for October 2018.
HOUSTON — Burton Construction has begun work on Lockwood Business Park, a 25-acre industrial park located at 13300 Lockwood Drive in Houston. The property will be part of the 4,000-acre Generation Park, which is owned by McCord Development. Energy equipment producer GHX Industrial LLC signed a 143,500-square-foot lease in June to become the park’s anchor tenant.
DALLAS — Westdale Real Estate Investment and Management has received $14.6 million in debt financing for the redevelopment of Mid Elm Lofts, a 29-unit boutique apartment complex located at 1512-1516 Elm St. in Dallas. Justin Laub of Metropolitan Capital Advisors Ltd. arranged the construction financing through an undisclosed, Texas-based bank.
LEWISVILLE, TEXAS — Stream Realty Partners has negotiated a 78,847-square-foot industrial lease at 301 Leora Lane in Lewisville. Blake Kendrick and Eric Crutchfield of Stream represented the landlord, EastGroup Properties. ESRP represented the tenant, Infinite Electronics Inc., an Irvine, Calif.-based supplier of engineering-grade wired and wireless connectivity products.
HOUSTON — The RADCO Cos. has acquired City Gate at Champions, a 278-unit, Class B apartment community situated on 10.6 acres at 12811 Greenwood Forest Drive in Houston. Built in 1978, the property consists of 27 two-story buildings with units averaging 874 square feet each. Amenities include a pool, picnic and grilling area and community clubhouse. The seller and other terms of sale were not disclosed. Atlanta-based RADCO plans to spend approximately $14,500 per unit on capital improvements. BBVA Compass provided debt and capital for the acquisition.
DALLAS AND DENTON, TEXAS — Disney Investment Group (DIG) has sold two shopping centers totaling 58,578 square feet in North Texas for a combined $24 million. The company sold Sprouts Village, a 46,380-square-foot, grocery-anchored center in Denton to The Inland Real Estate Group of Cos. Inc. DIG also sold Midway Plaza, a 12,198-square-foot shopping center in Dallas shadow-anchored by Walmart and Sam’s Club, to a private investor.
SAN ANTONIO — El Paso-based investment firm Mimco Inc. has acquired 5530 Walzem Road, a 100,000-square-foot shopping center in San Antonio. The center is home to tenants such as Melrose Clothing, Freedom Fitness, Octapharma and Taco Bell. With this acquisition, Mimco’s San Antonio portfolio now consists of more than 1 million square feet of shopping centers.
SAN ANTONIO — Hunt Mortgage Group has arranged a $10 million Fannie Mae loan for the acquisition of Richland Apartments, a 192-unit, garden-style multifamily complex located at 7791 Woodchase Drive in San Antonio. The 14-story property features an Internet café, tennis court and an outdoor pool and spa. The 12-year loan was arranged on behalf of Richland Living LLC.
KILLEEN, TEXAS — Retail Solutions has negotiated a 44,580-square-foot retail lease at Wendland Plaza, a shopping center located at 901 S. Fort Hood St. in the Austin metro of Killeen. Tucker Francis of Retail Solutions represented the landlord in the lease negotiations. Joseph Williams of The Woodmont Co. represented the tenant, Altitude Trampoline Park.
