Texas

Criterion Property to Develop Apartment Community in Fort Worth

by Haisten Willis May 5, 2016

FORT WORTH, TEXAS — Criterion Property Cos. has begun construction on The Scenic Residences at River East, a multifamily development in the River East neighborhood of Fort Worth. The Scenic will be a 276-unit, Class A property adjacent to Riverside Park. The development will overlook both the Trinity River and downtown Fort Worth. The Scenic will comprise studio, one- and two-bedroom units and also offer two-story townhomes. Amenities will include a pool with sundeck, indoor/outdoor pavilion, grilling kitchen, pet park, fenced yards for most first-floor units, community gardening plots, pocket parks and a trail system.

May 5, 2016

Harborview Capital Partners Secures $11.6M Loan for Multifamily Property in Oklahoma City

by Haisten Willis May 5, 2016

OKLAHOMA CITY — Harborview Capital Partners has arranged an $11.6 million acquisition loan for a 304-unit multifamily property in Oklahoma City. Jeff Fuchs of Harborview negotiated the transaction. The five-year loan, provided by a regional lender, features a one-month LIBOR-based interest rate and two years of interest-only payments. The property totals 172,368 square feet and consists of 19 two-story, garden-style residential buildings situated on 10.7 acres. Amenities include two pools, over 400 parking spaces, two laundry facilities and a clubhouse.

May 5, 2016

Mixed-Use Restaurant Retail Texas Top Stories

Dallas Cowboys Unveil Plans for Retail Block at Team’s $1.5B Mixed-Use Development

by John Nelson May 5, 2016

FRISCO, TEXAS — The Dallas Cowboys have unveiled plans for a 200,000-square-foot retail block at The Star in Frisco, a $1.5 billion, 91-acre mixed-use development that will include the NFL team’s new headquarters. In addition to the retail space and corporate headquarters, The Star in Frisco will feature the Cowboys’ training complex, a 12,000-seat multi-use event center and an Omni hotel. “The retail area will allow visitors to enjoy The Star whether there’s an event happening or simply a Friday night out with friends and family,” says Jerry Jones Jr., executive vice president and chief sales and marketing officer for the Dallas Cowboys. Storefronts will line The Star Boulevard, Winning Drive and Cowboys Way at The Star, and will provide shoppers and diners with a Dallas Cowboys brand experience. The restaurants that will be opening locations at The Star include City Works, Dee Lincoln Prime, Liberty Burger, Mi Cocina, Neighborhood Services, Nestlé Toll House Café by Chip and Tupelo Honey Café. The retail space will be located south of the Cowboys’ headquarters and The Ford Center, which will house the event center and the team’s training complex. Neighborhood Services will be located inside the Omni hotel. Next Step Dance, a …

May 5, 2016

Multifamily Seniors Housing Texas

Caddis Opens Heartis Seniors Housing Property in Fort Worth

by Haisten Willis May 4, 2016

FORT WORTH, TEXAS — Caddis, a national healthcare real estate firm headquartered in Dallas, has opened a 96-unit assisted living and memory care community known as Heartis Eagle Mountain at 3141 Dalhart Drive in Fort Worth. The 61,125-square-foot community includes 54 assisted living units (61 beds) and a dedicated 35-bed memory care unit. The residence features a secure courtyard and walking paths. Located on a 4.3-acre site, the community is about one mile from Eagle Mountain Lake with access to U.S. Highway 287 and I-35W. Heartis Eagle Mountain is owned by a Caddis affiliate and managed by Eugene, Ore.-based Good Neighbor Care. Good Neighbor Care has more than two decades of seniors housing management experience in Texas and several other states. Heartis Eagle Mountain offers amenities including game and activity rooms, a beauty/barber shop, dining room, common areas, daily social and recreational activities, licensed nursing services, landscaped grounds and a 24-hour emergency call system. Austin-based Katus LLC was the architect for the project.

May 4, 2016

leon-capital-group-self-storage-round-rock-texas

Industrial Texas

Leon Capital Breaks Ground on Self-Storage Project in Metro Austin

by Haisten Willis May 4, 2016

ROUND ROCK, TEXAS — Leon Capital Group has begun construction on its first self-storage construction project. The 105,987-square-foot development, which is located at 215 N. A.W. Grimes Blvd. in Round Rock, will be owned and operated by Leon Capital Group and managed by CubeSmart, a national owner and operator of self-storage facilities across the U.S. The Round Rock facility is the third investment for Leon Capital Group’s self-storage platform, which operates out of the company’s Austin office. The company is set to break ground on two additional Austin-area self-storage developments by the end of this year. Construction on the Round Rock self-storage development is slated for completion in late December. Embree Construction Group Inc. is the general contractor for the project.

May 4, 2016

Multifamily Texas

Henry S. Miller Arranges Sale of Two Apartment Properties in Dallas

by Haisten Willis May 4, 2016

DALLAS — Graham Johnston of Henry S. Miller’s investments/land division has arranged the sale of two apartment properties in Dallas known as Shadow Apartments and Bennett Place. Rick Scheurer of CMS Strategic Partners sold the properties to an undisclosed buyer. The Shadow Apartments spans 8,000 square feet at 4322 Bowser Ave. in Uptown Dallas, and Bennett Place includes 10,500 square feet at 1417 Bennett Ave. in east Dallas.

May 4, 2016

Retail Texas

Marcus & Millichap Negotiates Sale of Family Dollar in Northeast Oklahoma

by Haisten Willis May 4, 2016

GROVE, OKLAHOMA — Marcus & Millichap has negotiated the sale of a 9,196-square-foot Family Dollar in Grove. Tom Mann of Marcus & Millichap’s Tulsa office marketed the property on behalf of the seller, an individual/personal trust. Family Dollar was built in 2005 and is located at 1638 N. U.S. Hwy 59. Grove serves a portion of northeastern Oklahoma and derives business from its location extending from a portion of the east shore of Grand Lake, a major area of lake recreation serving Tulsa and surrounding towns.

May 4, 2016

Multifamily Texas

Greysteel Arranges Sale, Acquisition Financing for Multifamily Property in Metro Dallas

by Haisten Willis May 4, 2016

GARLAND, TEXAS — Greysteel has arranged the sale of Casa Del Mar, a 59-unit multifamily property in Garland, to Casa Del Mar I LLC on behalf of a private local investor. Greysteel’s Boyan Radic and Doug Banerjee negotiated the transaction. Greysteel also arranged acquisition financing for the buyer. The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac small balance loan program. It features a fixed interest rate and one year of interest-only payments followed by a 30-year amortization schedule. Greysteel’s Anton Mattli and John Marshall Doss negotiated the terms of the financing. Casa Del Mar is located at 3810 W. Walnut St.

May 4, 2016

Office Texas

Quadrant Investment Properties Plans Major Renovations at Saint Paul Place in Dallas

by Haisten Willis May 3, 2016

DALLAS — On behalf of Quadrant Investment Properties, CBRE has announced a number of capital improvements for Saint Paul Place. The Class A office building is a 22-story, 273,217-square-foot tower in the Dallas Arts District. Located at the intersection of North Saint Paul Street and Ross Avenue, Saint Paul Place overlooks the Dallas Museum of Art and Klyde Warren Park. Renovation plans include a new tenant lounge on the second floor complete with a conference center and outdoor patio deck with fire pit. The deck will extend to Ross Avenue and overlook the Dallas Museum of Art. Additionally, the espresso bar inside the building will be renovated to include areas for dining and working. The lobby will also receive an upgraded seating area and new Wi-Fi accessibility. Celeste Fowden, Seth Thatcher and Ben Davis of CBRE’s Dallas office are leasing the property on behalf of Quadrant Investment Properties. The tower was built in 1983 and is 80 percent leased to tenants including D Magazine, accounting firm Crowe Horwath and Sendero Business Systems.

May 3, 2016

Office Texas

SkyWalker Property Partners Buys Office Property in Arlington

by Haisten Willis May 3, 2016

ARLINGTON, TEXAS — In an all-cash transaction, SkyWalker Property Partners has acquired a 72,518-square-foot, Class A office building in Arlington. The property is the first for the company’s Opportunity Knocks Fund in preparation for the launch of a major capital campaign in June. The 40 percent leased office building at 701 Highlander Blvd. is located on the city’s south side, close to Arlington Highlands and Parks Mall. The 4.6-acre property includes a T-Mobile cell tower. At least $400,000 will be invested into addressing deferred maintenance and upgrading the 30-year-old structure. Roughly $150,000 is earmarked to remediate waterproofing issues with the roof, windows and granite-clad skin panels. The lobby will be getting new lighting, finishes and furniture. Upgrades are also planned for elevator cabs and common areas. The exterior plan calls for a new monument sign and landscaping improvements. Work is expected to get underway within 30 days. Twenty-six tenants-in-common investors, known as TIC-Highlander Building LLC, sold the five-story office building. The buyer, This Land is Highland, was represented by Gary Walker of Coldwell Banker Commercial Alliance DFW, along with Colt Power and Grant Irvin of NAI Robert Lynn. Paul Getty of Sperry Van Ness/First Guardian Group of San Jose, Calif., …

May 3, 2016

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