CONROE, TEXAS — D’Agostino Cos. and Slate Real Estate Partners have released details for a mixed-use project spanning 65 acres in the Houston submarket of Conroe. Individual features of the property include 120,000 square feet of medical/office space, 25,000 square feet of retail space, a four-story, 132-room hotel and five restaurant pad sites. Plans also include 254,238 square feet of multifamily space spread across 250 units, and 120 units totaling 120,000 square feet of space reserved for residents who are 55 or older. Delivery of the site, which has yet to be branded, is scheduled for October 2018.
HOUSTON — A partnership between Houston-based developer Midway and Dallas-based investment advisor firm L&B Realty Advisors has received $65 million in interim financing for CityCentre, a mixed-use property in west Houston. Located at 800 Town and Country Blvd., the property, which was developed in 2007, includes a total of 307,509 square feet of retail, hotel, office and residential space. Scott Galloway and Colby Mueck of HFF arranged the financing through JPMorgan and First Tennessee Bank.
SAN ANTONIO — Embassy Suites by Hilton and Hotel Capital have completed the 11-month, $7 million renovation of the Embassy Suites by Hilton San Antonio NW I-10, located at 7750 Briaridge Drive in San Antonio. The renovation was part of the Atrium Refresh Initiative, designed to update the art and architecture of the chain’s open-air lobbies. The renovation also included upgrades to the hotel’s bar and restaurant, as well as the interiors of each of its 216 suites.
KATY, TEXAS — NewQuest Properties has begun on the first round of fast food restaurants at Grand Morton Town Center, an 89-acre retail center located at the corner of Grand Parkway and Morton Ranch Road in Katy on Houston’s eastern outskirts. Taco Bell will open a 29,815-square-foot location and McDonald’s will operate a 67,894-square foot site, with both slated to open in late summer. Whataburger and Chick-fil-A will follow at year’s end with 42,574-square-foot and 59,699-square-foot ground-leased sites, respectively.
MANVEL, TEXAS — Allied Orion Group, a Houston-based investment and development firm, has begun leasing Southfork Lake, a multifamily development in Manvel, a southern suburb of Houston. Located at 3333 Southfork Parkway near the Sam Houston Tollway, the 328-unit property offers a resort-style pool with cabanas, fitness center, pet care center, 6,000-square-foot dog park and a cyber café with Wi-Fi access.
HOUSTON — MetroNational, a Houston-based real estate development and management firm, has announced plans to break ground this month on a midrise apartment complex at the corner of Barryknoll Lane and Memorial City Way in the Memorial City neighborhood of west Houston. The eight-story complex will have a total of 327 one-, two- and three-bedroom units, ranging in size from 555 square feet to 1,796 square feet, as well as a game lounge, fitness center and a rooftop pet park. The property is slated to open in summer 2019.
SAN ANTONIO — Drake Commercial Group and Transwestern have arranged a new lease for the Vista Corporate Center, a 157,472-square-foot, Class A office property located at 13805 Interstate 10 Frontage Road in San Antonio. Dan Pollard of JLL represented the tenant, San Antonio-based financial advisor USAA, which will occupy the entire building. Deborah Bauer of Drake Commercial Group and Russell Noll of Transwestern represented the landlord, sn15000IH Ltd.
ALLEN, TEXAS — BMC Capital has secured an $18 million construction loan on behalf of an unspecified developer for a 125,000-square-foot, five-story office property in Allen, a city slightly north of the Dallas-Fort Worth metroplex. The three-year loan has a floating interest rate and a 70 percent loan-to-cost ratio. Delivery of the Class A building is slated for the first quarter of 2018.
MIDLAND, TEXAS — JLL has arranged the sale of Ranchland Apartments, a 204-unit, 16-building multifamily property situated on 6.8 acres at 1212 E. Wadley Ave. in Midland. Scott LaMontagne, Moses Siller and Zar Haro of JLL represented the seller, Midland Visions 2000, in the transaction. The representative of the buyer, KNAARS Ventures LLC, and other terms of the sale were not disclosed.
LAREDO, TEXAS — Marcus & Millichap has closed the sale of a 2,506-square foot restaurant property leased to Taco Bell at 2453 Monarch Drive in the south Texas border town of Laredo. The net-leased property is an outparcel to a 400,000-square-foot retail center anchored by an H-E-B grocery store. James Bell of Marcus & Millichap represented the seller, an undisclosed developer. The name and representative of the buyer, a Chicago-based entity, were not released.