Texas

Huffines Breaks Ground on Phase IV of Apartment Community in Metro Dallas

by Haisten Willis March 31, 2016

LEWISVILLE, TEXAS — Huffines Communities has begun construction on Phase IV of Hebron 121 Station in Lewisville. The transit-oriented community’s existing 678 units are near 100 percent occupancy. Once Phase IV is complete, Hebron 121 Station will total 1,148 units. The property is near I-35, State Highway 121, the President George Bush Turnpike and the Denton County Transit Authority Rail Station. The city of Lewisville owns and maintains 150 adjacent acres devoted to trails, lakes and green space. Phase IV will consist of four buildings and is being built near the main entrance to 121 Hebron Station on Penn Station Road. Amenities include a pool with swim up bar, a 10,000-square-foot clubhouse, fire pits, sand volleyball courts, fitness center, outdoor grills and Wi-Fi.

March 31, 2016

Hyatt House Extended Stay Hotel Opens in Frisco

by Haisten Willis March 31, 2016

FRISCO, TEXAS — A six-floor, 132-suite Hyatt House extended stay hotel has opened in Frisco. The new Hyatt House features one- and two-bedroom suites, all with full kitchens. Other amenities include an indoor pool, business center, fitness center and two meeting rooms. With the hotel’s opening, Dallas-based NewcrestImage now owns and operates 19 properties with another 11 under construction or in development.

March 31, 2016

Office Texas

McCarthy to Build 200,000 SF High School in Downtown Houston

by Haisten Willis March 31, 2016

HOUSTON — McCarthy Building Cos. has been awarded the contract to build The High School for the Performing and Visual Arts (HSPVA) located at 790 Austin St. in downtown Houston. The school is designed to house 750 students and focus in several arts disciplines, including acting, writing, music, fine arts and dance. The five-story, 200,000-square-foot high school will include an 800-seat theater, 300-seat black box theater, rehearsal rooms, cafeteria and two floors of underground parking. Located in the middle of downtown Houston, the project will cover an entire city block. The seven-story building, which includes two floors of parking, is scheduled for completion in September 2018.

March 31, 2016

Villa-Creek-Apartmens-Farmers-Branch-Texas

Multifamily Texas

CBRE Brokers 161-Unit Multifamily Sale in Dallas Suburb

by Haisten Willis March 31, 2016

FARMERS BRANCH, TEXAS — CBRE Capital Markets’ Investment Properties has brokered the sale of Villa Creek, a 161-unit multifamily community in the Dallas suburb of Farmers Branch. Villa Creek Drive LLC purchased the asset from Villa Creek Associates LLC. Chris Deuillet of CBRE’s Dallas office represented the seller. The 131,562-square-foot asset is located at 2835 Villa Creek Drive and was 93.5 percent occupied at closing. Villa Creek includes 15 two-story apartment buildings with one-, two- and three-bedroom units. The complex was built in 1964 on 7.5 acres.

March 31, 2016

Multifamily Texas

M&M Arranges Sale of 20-Unit Apartment Building in North Texas

by Haisten Willis March 31, 2016

HOWE, TEXAS — Marcus & Millichap has arranged the sale of Bainbrook, a 20-unit apartment property located in Howe. Nick Fluellen, Bard Hoover and Evan Burke of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an individual/personal trust. Fluellen, Hoover and Burke also procured the buyer, another individual/personal trust. Located at 511 S. Collins Freeway, Bainbrook was built in 1979 and was 100 percent occupied at the time of sale. The property includes one- and two-bedroom units with an average size of 649 square feet.

March 31, 2016

Park-20-Distribution-Center-Arch-Con-Construction-Lancaster-Texas

Industrial Texas

Arch-Con to Build 468,000 SF Distribution Center in Metro Dallas

by Haisten Willis March 30, 2016

LANCASTER, TEXAS — Arch-Con Construction, a design-build general contractor, plans to break ground on a 468,000-square-foot distribution center in Lancaster, a southern suburb of Dallas. The company is breaking ground in April on Park 20 Distribution Center on behalf of developer Huntington Industrial Partners. The project will be a tilt-wall, cross-dock distribution center with a 32-foot clear height on a 36-acre site. Additionally, Arch-Con Construction has opened a new office in Dallas. Arch-Con’s Dallas office is located in Preston Center at 8235 Douglas Ave., Suite 1000.

March 30, 2016

Industrial Office Texas

Henry S. Miller Arranges Sale of Flex Building in Dallas

by Haisten Willis March 30, 2016

DALLAS — Parvez Malik of Henry S. Miller’s investments and land division has sold a 41,000-square-foot office/warehouse building in Dallas. Located at 1750 Regal Row, the property is near I-35 and Dallas Love Field Airport. Sumair Trading Inc. purchased the building from Regal Row Center Ltd. Malik represented Sumair Trading in the transaction, while James Mantzuranis of Stream Realty represented the seller.

March 30, 2016

Loans Multifamily Seniors Housing Texas

Dougherty Secures $3M Loan for Seniors Housing Complex in Metro Dallas

by Haisten Willis March 30, 2016

DESOTO, TEXAS — Dougherty Mortgage LLC has secured a $3 million HUD loan for the refinancing of Cedar Green Living Center, a 105-unit seniors housing property located in DeSoto. Dougherty’s Dallas office arranged the 33-year loan on behalf of the borrower, Senior Christian Living Foundation.

March 30, 2016

Multifamily Texas

Greysteel Arranges Sale of El Sol Del Lago Apartments in Dallas

by Haisten Willis March 30, 2016

DALLAS — Greysteel has arranged the sale of El Sol Del Lago, a 318-unit apartment community in Dallas. Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill of Greysteel represented Oradell Lane Holdings LP in the sale of El Sol Del Lago to Diamond Villa Apartments LLC. Located in the Bachman Lake neighborhood of Dallas, El Sol Del Lago is a garden-style community near Northwest Highway and Webb Chapel Road.

March 30, 2016

Multifamily Retail Texas

UCD Purchases 21 Acres in Metro Dallas for Future Retail, Multifamily Projects

by Haisten Willis March 30, 2016

SAGINAW, TEXAS — Robert Dorazil of United Commercial Development (UCD) has purchased a 21-acre property on the southwest corner of Bailey Boswell Road and FM-156 in Saginaw. Edward Bogel and David Davidson Jr. of Davidson & Bogel Real Estate brokered the transaction. UCD will be developing retail shop space on the property and is working with DB2RE on the retail pad sites, as well as selling multifamily land on the south side of the property.

March 30, 2016

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