Texas

Sealy Acquires 615,005 SF Distribution Center in Fort Worth

by Haisten Willis April 18, 2016

FORT WORTH, TEXAS — Sealy & Co. has acquired Carter Distribution Center, a 615,005-square-foot, Class A warehouse facility situated on more than 27 acres at 6601 Oak Grove Road in Fort Worth. The acquisition was made on behalf of Sealy Strategic Equity Partners (SSEP). Carter Distribution Center was built in 2008 and features 32-foot clear heights, 89 trailer parking spaces and an ESFR sprinkler system. The property is rail served on the north side by the Union Pacific Rail line via the Fort Worth Western Rail Road. The asset is also located near the intersection of I-35 and I-20.

April 18, 2016

M&M Arranges Sale of 23,760 SF Retail Property in Huntsville

by Haisten Willis April 18, 2016

HUNTSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Huntsville Crossing Shopping Center, a 23,760-square-foot retail property located in Huntsville. Glen Kunofsky, Russell Wachtler and Jerry Goldstein of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. A California buyer purchased the shopping center utilizing a 1031 tax-deferred exchange. Tenants include Buffalo Wild Wings, Chipotle Mexican Grill, Mattress One and Spec’s Liquor.

April 18, 2016

Office Texas

Oldham Goodwin Group Opens New Office Location in San Antonio

by Haisten Willis April 18, 2016

SAN ANTONIO — Oldham Goodwin has opened a new office in San Antonio. This marks the second office expansion in the company’s history. Steve Monroe will be leading the brokerage efforts for Oldham Goodwin Group’s San Antonio office. Steve’s responsibilities include managing the brokerage division of the new office, as well as growing the San Antonio/South Texas office in terms of personnel and property listings for sales, leasing and property management. Steve boasts more than 25 years in the commercial real estate industry. Most of that time was spent with CBRE, where he served as an investment properties specialist and as a managing director responsible for company operations in New Mexico and California. Oldham Goodwin’s new office is located at 1100 N.W. Loop 410, Suite 700. The new office will offer the same services as the corporate headquarters located in Bryan. Services offered will include brokerage, development, management and investment services.

April 18, 2016

Industrial Office Retail Texas

Newcor Negotiates Purchase of 5.8 Acres in The Woodlands

by Haisten Willis April 18, 2016

THE WOODLANDS, TEXAS — David Alexander of Newcor Commercial Real Estate has represented Gus Kaiser in the purchase of 5.8 acres at 33127 Lois Lane and FM 1488 in The Woodlands. Scott Furches of RE/Max Hometown represented the seller, DRD Limestone LLC.

April 18, 2016

Office Texas

Lionstone Investments, Midway to Renovate Historic Office Property in Houston

by Haisten Willis April 15, 2016

HOUSTON — Lionstone Investments and Midway plan to rebrand the buildings located at 712 and 708 Main St. in downtown Houston as “The Jones on Main.” The property, once known as the Gulf Oil Building, is the current Houston banking headquarters for JPMorgan Chase & Co. The name pays tribute to Houston businessman and philanthropist Jesse Jones, who commissioned the building in 1927. The Art Deco tower dominated was the city’s tallest building until 1963. Proposed renovations to the site include ground-level connection of the two buildings, the addition of high-end interior amenities, as well as new street-level restaurant and retail spaces along Main and Rusk streets. New storefronts, the addition of sidewalk patios and a nearby bike valet are designed to enliven and activate the streetscape. Historic interior details, including original frescoes illustrating the history of Texas and Houston in the Main Street lobby, will be integrated into a new public space featuring communal tables and lounge seating called the Currency Lounge. Lionstone Investments purchased the property in 2013. The property is located at intersecting MetroRail lines and the downtown tunnel system, making it easily accessible. JPMorgan Chase remains the building’s main tenant, occupying nearly 452,000 square feet of office …

April 15, 2016

Multifamily Seniors Housing Texas

NHI Buys 12 Skilled Nursing Facilities in Texas for $174.5M

by Haisten Willis April 15, 2016

MURFREESBORO, TENN. — National Health Investors Inc. (NYSE: NHI), a publicly traded seniors housing and healthcare REIT based in Murfreesboro, has purchased 12 skilled nursing facilities in Texas from operator Legend Healthcare for a total of $174.5 million. The sales were structured as two separate transactions. In the first, NHI bought eight of Legend’s existing Texas facilities totaling 931 beds for $118.5 million. In the second transaction, NHI purchased four more facilities from Legend that are in various stages of development for $56 million. The first of those facilities is expected to open in 2017. Legend is seeking to step away as operator of all the facilities, so NHI will lease all 12 newly purchased facilities, as well as seven others previously operated by Legend, to affiliates of The Ensign Group (NASDAQ: ENSG). The 15-year lease for the 15 currently operating facilities will have an initial annual amount of $17.8 million plus an annual, inflation-based escalator. The lease has two five-year renewal options. Upon entering the new lease on May 1, Ensign will also purchase two skilled nursing facilities in Texas from NHI. Ensign will pay $24.6 million for the 245-bed portfolio.

April 15, 2016

Loans Multifamily Seniors Housing Texas

KeyBank Provides $202.1M Loan for Texas-based Independent Living Portfolio

by Haisten Willis April 15, 2016

TEXAS — KeyBank Real Estate Capital provided $202.1 million in Freddie Mac financing to a joint venture between Kayne Anderson Real Estate Advisors and Discovery Senior Living for their Conservatory Senior Living portfolio, a five-property independent living portfolio located in Texas. Totaling 1,053 units, the Class A seniors housing communities were all built between 2005-2007 and house between 188-237 units each. Charlie Shoop and Carolyn Nazdin of Key’s Healthcare Mortgage Group worked in conjunction with Paul DiVito of Key’s Healthcare Real Estate Group to arrange the non-recourse, 10-year, adjustable rate financing, which was used to refinance an existing loan.

April 15, 2016

Multifamily Texas

ARA Newmark Secures Sale of Two Austin Multifamily Properties

by Haisten Willis April 15, 2016

AUSTIN, TEXAS — ARA Newmark has negotiated the sale of two Austin properties: The Park at Stone Creek, a 420-unit community located in northeast Austin; and Mission Hills, a 344-unit, Class A apartment community. The Park at Stone Creek and Mission Hills are both less than 10 miles from Austin’s central business district. ARA Newmark’s Pat Jones worked with Bridgeview Real Estate to facilitate the sale of The Park at Stone Creek with an affiliate of the Turner Multifamily Impact Fund. The Class B community spans 18 acres. Built in the early 1980s, the property offers seven floor plans averaging 750 square feet. Amenities include a fitness center, onsite jogging trail, playground/picnic area, disc golf course, bark park, lighted sport court and two swimming pools. Pat Jones and Andrew Shih of ARA Newmark represented the sellers, AMH I Associates Ltd. and Austin Mission Hills Associates II Ltd., in the transaction for Mission Hills. F&B Capital purchased the property, which was 95 percent occupied at the time of the sale. Mission Hills is a three-story property that was built over two phases in 1999 and 2001. It includes five floor plans with an average unit size of 831 square feet and …

April 15, 2016

Industrial Office Texas

Weitzman Negotiates 63,932 SF Office/Warehouse Lease in Dallas

by Haisten Willis April 15, 2016

DALLAS— Cotton Holdings Inc., a Katy-based infrastructure support services company providing property restoration and recovery construction, has leased a freestanding 62,932-square-foot office/warehouse space in Dallas. The space is located at 8400-8500 John Carpenter Freeway (US-183) at Empire Central Drive, and will be the site of a new location for Cotton Holdings. Matthew Rosenfeld of The Weitzman Group handled negotiations for the landlord. Cotton Holdings was represented by Alexis Martinez of Rubicon Representation. In addition to property restoration and recovery construction, Cotton Holdings provides roofing, consulting, temporary workforce staffing and housing and culinary services to public and private entities.

April 15, 2016

Multifamily Student Housing Texas

Haven Campus Communities Acquires Student Housing Property Near Texas A&M

by Haisten Willis April 14, 2016

COLLEGE STATION, TEXAS — Haven Campus Communities has acquired The Tradition at Northgate, a 795-bed student housing community located across the street from the Texas A&M campus in College Station. ARA Newmark’s Student Housing Group, led by Ryan Lang, brokered the transaction. Haven plans to implement a renovation project that will be delivered in time for the fall 2017 semester. Renovated units will be furnished with fully equipped kitchens, large flat screen televisions, washers and dryers and trundle beds with pillow top mattresses. The apartments will also feature upgraded private bedrooms and bathrooms with bed to bath parity. Community amenities will include a large central courtyard with an indoor/outdoor lounge leading out to a resort-style pool, covered grills, hammocks and fire pits and a 24-hour fitness center. The clubhouse will feature a cyber-lounge with charging stations, a study room with smart TVs, a coffee bar, pool tables and shuffleboard. The property will also feature a new 1,360-square-foot computer lab when renovations are complete.

April 14, 2016

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