Texas

The-Sophie-at-Bayou-Bend-houston

HOUSTON — A partnership between Stolz Partners and Sudhoff Cos. will develop a mid-rise condominium project known as The Sophie at Bayou Bend in Houston. The nearly two-acre site is located at 6017 Memorial Drive. The project was initially to be developed into townhomes, but instead the two companies will develop a seven-story building with 42 condominiums on six floors. Units will range in size from 2,400 square feet to nearly 5,000 square feet, and will include private terraces. Common area amenities will include controlled-access entry points, two levels of controlled-access garage space, private garages, a fitness center and a dog park. Construction will begin once 50 percent of all units are pre-sold.

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old-chicago-pizza-fort-worth

FORT WORTH, TEXAS — The Vitorino Group, a commercial real estate investment sales firm in Dallas, has arranged the sale of an Old Chicago Pizza ground lease in Fort Worth. The property is located on a 2.3-acre outparcel to Presidio Towne Crossing, a 600,000-square-foot power center anchored by both a Super Target and Costco in north Fort Worth. The transaction consists of a 15-year ground lease term with rental increases and new construction.

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Modera-Hall-Street

DALLAS — Mill Creek Residential has begun construction on Modera Hall Street, a 340-unit apartment complex in east Dallas. Located on North Hall Street between Ross Avenue and North Central Expressway, the community will be located less than a mile from the Dallas Arts District and Downtown Dallas. Amenities will include an on-site dog park with owner’s lounge, pool with tanning ledge, fitness center, business center and a fifth-floor sky lounge with views of the Dallas skyline. Residents will enjoy 24-hour access to deliveries via an electronic package locker system and the use of Modera-branded bikes. Unit amenities will include quartz countertops, stainless steel appliances, tile backsplashes, wood-style floors and walk-in closets. Mill Creek will manage the community and is partnering with Boston-based GID on the project.

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BENBROOK, TEXAS — The Silver Group has negotiated the sale of a single tenant Dairy Queen restaurant located at 8636 Benbrook Blvd. in Benbrook. The property consists of a newly constructed 3,000-square-foot quick service restaurant on a 1.1-acre parcel along State Highway 377. The tenant, Vasari LLC, is one of the largest Dairy Queen operators in Texas. The property is situated between Panda Express and Jack in the Box and is one block from CVS/Pharmacy. The net lease had a new 20-year term commencing on the closing date. Greg Cunha of The Silver Group represented the family trust who was completing a tax-deferred exchange.

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SAN ANTONIO — Dougherty Mortgage has secured a $6.7 million Fannie Mae loan for the acquisition of Edge Studio Apartments, a 128-unit market rate multifamily apartment property located in San Antonio. The 12-year Fannie Mae loan includes two years of interest-only payments and a 30-year amortization schedule. The loan was arranged for borrower Bluemel 2016 LLC through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office.

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DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $1.7 million loan for the cash-out refinance of a multifamily property located in Dallas. The loan featured a 3.5 percent, seven-year fixed rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

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Heartis-seniors-housing-waco-caddis

WACO, TEXAS — Caddis, a national healthcare real estate firm headquartered in Dallas, has opened the 81-unit, 70,000-square-foot Heartis Waco seniors housing community at 5317 Speegleville Road in Waco. Caddis owns the community and Frontier Management will manage it. Heartis Waco offers amenities including a bistro, Internet café, fitness center, salon and spa, barber shop, two interior courtyards, dining room, arts and crafts room, media room, library, indoor and outdoor walking paths, 24-hour emergency call system and personal transportation. Austin-based Katus LLC was the architect for the project, and EBCO General Contractor Ltd. was the general contractor.

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SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of 231 E. Rhapsody Drive, an office building located in north San Antonio. SACA’s Ed Cross represented the buyer, Young Men’s Christian Association (YMCA) of Greater San Antonio, who purchased the building for its administrative offices. Keith Coelho of Henry S. Miller represented the unnamed seller.

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DALLAS — Three new tenants are scheduled to open at The Shops at Park Lane, a mixed-use development bordered by Park Lane and North Central Expressway in Dallas. The new tenants are DSW Designer Shoe Warehouse, Francesca’s and Carlen’s Luxury Optical. DSW Designer Shoe Warehouse, a footwear and accessories retailer, will open an 18,500-square-foot, two-level store in spring 2017 adjacent to F21 RED and ULTA. Francesca’s and Carlen’s Luxury Optical will open on the ground floor of the center’s five-story office and retail building anchored by J.Crew Mercantile and DXL. Francesca’s will open in May in a 2,045-square-foot space featuring women’s apparel, jewelry, accessories and gifts. In August, Carlen’s Luxury Optical will open a 1,500-square-foot store with luxury eye brands, optical frames and designer sunglasses. Licensed opticians will provide consultations for eyewear and lenses. Northwood Investors owns The Shops at Park Lane, and Northwood Retail manages the property.

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DALLAS — Jack Dawson has joined SRS Real Estate Partners as a senior associate in the firm’s Dallas/Fort Worth office. Dawson focuses on tenant and landlord representation as well as investment sales. Dawson joins SRS with three years of experience in commercial real estate. He has worked with several retailers in the Dallas and north Texas markets such as AIO/Cricket Wireless, JPMorgan Chase Bank, Sub Zero Ice Cream and Eskimo Hut. He has also worked with many landlords in various project leasing assignments, and marketed several investment sale listings. Dawson has a bachelor’s degree from Southern Methodist University, where he was a Hunt Leadership scholar and a Cox Business School BBA scholar. He is a member of the International Council of Shopping Centers (ICSC) and North Texas Commercial Association of Realtors (NTCAR). Additionally, Dawson regularly works with the Yellow Rose Gala Foundation, a group that supports multiple sclerosis research.

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