Texas

Veritas Advisory Group Expands at Thanksgiving Tower in Dallas

by Haisten Willis August 25, 2016

DALLAS — Veritas Advisory Group Inc. has signed a long-term, 19,166-square-foot lease extension and expansion for its Dallas office at Thanksgiving Tower. Veritas provides forensic accounting, litigation support and expert witness testimony to clients in a variety of industries, including banking, construction, energy, manufacturing and telecommunications. Arthur Green of Avison Young represented Veritas Advisory in renewal negotiations. A $38 million infrastructure, lobby and plaza area renovation is underway at Thanksgiving Tower that is scheduled for completion by the end of 2016. Improvements include HVAC replacement, thermal storage tank refurbishment, elevator modernization and podium redevelopment.

August 25, 2016

M&M Arranges Sale of 42-Room Hospitality Property in Atlanta

by Haisten Willis August 25, 2016

ATLANTA, TEXAS — Marcus & Millichap has arranged the sale of Best Western Pineywoods Inn, a 42-room hospitality property located in Atlanta, 25 miles south of Texarkana. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Gomes, Miller and Cooper also procured the buyer, a private investor. Best Western Pineywoods Inn is located at 306 US Highway 59 Loop. Constructed in 2001, the two-story hotel is located in the Pineywoods region of northeast Texas. The property features an outdoor swimming pool, business center, breakfast area and meeting space.

August 25, 2016

Overlook-at-Prestonwood-Carrollton-Texas

Loans Multifamily Seniors Housing Texas

Love Funding Secures $26.3M Construction Loan for Seniors Housing Development

by Haisten Willis August 24, 2016

CARROLLTON, TEXAS — Love Funding has secured a $26.3 million loan for the construction and permanent financing of Overlook at Prestonwood, a seniors housing community under development in Carrollton. Overlook at Prestonwood will offer 183 age-restricted apartment units in one four-story building and five standalone cottages on 5.5 acres. The property will include one-, two- and three-bedroom units. The main building will also house a clubhouse and other amenities. Love Funding’s Laura Saull-Smith secured the financing through the U.S. Department of Housing and Urban Development (HUD) 221(d)(4) loan insurance program. The HUD program provided the development team with low-rate, non-recourse financing for the duration of construction and for a subsequent 40-year term. James Sawyer, president of Warsaw Realty Group, brought the transaction to Love Funding. The principals of the ownership group include Charlie Nicholas, Luke Harry, Steven Rumsey and Chris Willhite. NE Construction will be the general contractor, and Capstone is the property manager. Brian Rumsey of Cross Architects is the architect of record for this project.

August 24, 2016

Office Texas

JTM Development to Break Ground on Walsh Tarlton Overlook in Austin

by Haisten Willis August 24, 2016

AUSTIN, TEXAS — Austin-based JTM Development will break ground next week on Walsh Tarlton Overlook, a 55,000-square-foot office building in southwest Austin. Located just north of Capital of Texas Highway (Loop 360) and west of the Barton Creek Square Mall, the three-story building is located at 2530 Walsh Tarlton Lane. Sixthriver Architects designed the project, which will feature limestone, marble and walnut finishes throughout the building, as well as in the elevator lobbies and elevators. The structure includes a five-floor parking garage beneath the building. Walsh Tarlton Overlook is scheduled to open in 2017. The Burt Group is the general contractor on the project. TBG Group designed the landscaping. JTM Development is partnering on the project with Cypress Real Estate Advisors, which has owned the 16-acre site since 2007. Cypress received approval from the city of Austin to rezone the property for mixed-use development in 2011.

August 24, 2016

Hospitality Loans Texas

Pioneer Realty Capital Arranges $13.8M Construction Loan for Home2 Suites Hotel in Dallas

by Haisten Willis August 24, 2016

DALLAS — Pioneer Realty Capital LLC has closed a $13.8 million construction loan for a 130-room Home2 Suites Hotel in Dallas. The 82,130-square-foot property is an extended stay hotel featuring customizable guest room design. Amenities at the five-story hotel will include a combined laundry and fitness facility and pet-friendly accommodations. Freedom Hospitality LLC in Bryan is working with the contractor, Aguirre Roden Building Specialties Inc. of Dallas. Construction began in July. The 18-month project is scheduled to open in December 2017.

August 24, 2016

Hospitality Texas

MCR Development Completes Renovation of Courtyard by Marriott Brownsville

by Haisten Willis August 24, 2016

BROWNSVILLE, TEXAS — MCR Development LLC has completed a renovation of the Courtyard by Marriott Brownsville, a 90-room select-service hotel. Located off I-69 East, the newly renovated hotel features an updated exterior with a stucco façade. The renovation of the hotel’s exterior follows recently completed updates to the interior, which included upgrading the lobby and guestrooms and the addition of a bistro. The hotel is located near Mitte Cultural District and the University of Texas at Brownsville.

August 24, 2016

Industrial Office Texas

NAI Partners Brokers Sale of 24,000 SF Office/Warehouse in Houston

by Haisten Willis August 24, 2016

HOUSTON — NAI Partners has represented Panattoni Development Co. in the sale of a 24,000-square-foot office/warehouse facility located on 10.6 acres to Eagle Fabricators Inc. The facility is located at 5522 Shirley Lane in Houston. John Ferruzzo and Clay Pritchett of NAI Partners represented Panattoni Development during the transaction negotiations.

August 24, 2016

Multifamily Seniors Housing Texas

Medistar Corp. to Develop Seniors Housing Facility in El Paso

by Haisten Willis August 23, 2016

EL PASO, TEXAS — Medistar Corp. is a developing a new VibraLife seniors housing community located at 3421 Joe Battle Blvd. in El Paso. Vibra Healthcare LLC will be the operator of the facility. Now under construction across Joe Battle Boulevard from the Hospitals of Providence east campus, the facility will provide 92 total beds, including 60 beds of skilled nursing, 16 beds of assisted living and 16 beds of memory care. Medistar’s Craig Laher is the lead development officer for the project. Pi Architects designed the new VibraLife facility, and SCI Construction Inc. is the general contractor. Construction is scheduled for completion in early 2017.

August 23, 2016

Healthcare Texas

Hat Trick Development to Build Medical Facility in Metro Austin

by Haisten Willis August 23, 2016

BEE CAVE, TEXAS — Hat Trick Development plans to build a medical office project known as the Medical Towers at Bee Cave. Alive and Well wellness center will be the lead tenant at the property, occupying 8,000 square feet. The 80 percent-leased development is located on a 2.1-acre site off the northwest corner of RM 620 and State Highway 71 in Bee Cave. Tenants in the 23,000-square-foot project will include Lone Star Podiatry and River City Docs. Adam Metcalf is the owner of Alive and Well. Construction should begin in September and will be completed by the end of 2017. H+SP is the project’s architect, LJA Engineering Inc. is the engineering firm and Structura Inc. is the general contractor.

August 23, 2016

Loans Multifamily Texas

JLL Secures $42.5M Refinancing for Multifamily Asset in The Woodlands

by Haisten Willis August 23, 2016

THE WOODLANDS, TEXAS — JLL Capital Markets has completed the $42.5 million refinancing of Millennium Six Pines, a 314-unit, Class A multifamily asset located in The Woodlands. JLL secured the loan through its Fannie Mae DUS lending platform on behalf of the borrower, The Howard Hughes Corp. Mike Melody, Randy Fleisher and Dustin Dulin led the JLL team on the deal. Millennium Six Pines is located 30 miles from downtown Houston and 25 miles from George Bush Intercontinental Airport. The five-story building’s community amenities include a pool, clubhouse, fitness center and gated access. In-unit amenities include granite countertops, washers and dryers, patios/balconies, fireplaces and hardwood floors in living areas.

August 23, 2016

Newer Posts

Older Posts