Texas

NAI Robert Lynn Arranges Two Restaurant Leases in Dallas

by Amy Works December 6, 2016

DALLAS — NAI Robert Lynn has represented two tenants in the leasing of restaurant space at Preston Center in Highland Park in Dallas. Go Fish Poke has inked a deal for 2,574 square feet of restaurant space at 6030 Luther Lane for the city’s first true poke concept restaurant. Poke is a raw fish salad or entrée that is traditionally served in Hawaii. Additionally, Yolk has leased 4,604 square feet of space at 8315 Westchester Drive. This will be the breakfast and lunch restaurant’s third location in Dallas. Kornel Romada of NAI Robert Lynn represented the tenants in both transactions. Ryan Stewart provided in-house representation for the landlord, Rosebriar Properties, in the Go Fish Poke transaction, while the Weitzman Group represented the sub-lease of LYFE Kitchen for the Yolk deal.

December 6, 2016

Multifamily Texas

Westmount Realty Capital Acquires 212-Unit Multifamily Community in San Antonio

by Amy Works December 5, 2016

SAN ANTONIO — Westmount Realty Capital has purchased Cape Cod, a garden-style apartment community located at 13030 Blanco Road in San Antonio, for an undisclosed sum. Built in 1984, the 11-building property features 212 one- and two-bedroom units. The buyer is rebranding the 145,680-square-foot community as Westmount at Cape Cod and plans to implement a capital improvement program at the property. Berkadia provided financing for the acquisition on behalf of Westmount Realty Capital. The name of the seller was not released.

December 5, 2016

Multifamily Texas

IPA Facilitates Sale of 146-Unit Apartment Community in San Antonio

by Amy Works December 5, 2016

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Meridian, an apartment community located near Alamo Heights in San Antonio. Located at 680 E. Basse Road, the property features 146 luxury apartment units. An undisclosed buyer acquired the property for an unreleased sum. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the undisclosed seller and procured the buyer in the deal.

December 5, 2016

Retail Texas

Vitorino Group Negotiates Sale of New Retail Center in Fort Worth

by Amy Works December 5, 2016

FORT WORTH, TEXAS — Vitorino Group has arranged the sale of a retail property located in Fort Worth. The newly constructed Presidio Retail Center sold for an undisclosed price. The three-tenant property is an outparcel to Presidio Junction, a 1 million-square-foot mixed-use development in north Fort Worth. A local Texas partnership acquired the property, which was listed for more than $600 per square foot.

December 5, 2016

Loans Multifamily Texas

Dougherty Mortgage Closes $5.4M Acquisition Loan for 76-Unit Multifamily Property in Metro Dallas

by Amy Works December 5, 2016

GARLAND, TEXAS — Dougherty Mortgage has closed a $5.4 million Fannie Mae loan for the acquisition of Oaks Branch Apartment Homes in Garland, a northeastern suburb of Dallas. The 12-year loan was arranged through a partnership with Old Capital Lending and Dougherty Mortgage’s Vienna, Va., office on behalf of the borrower, Castleglen Homes LLC. The financing included two years of interest-only payments and a 30-year amortization schedule. The 76-unit property features two- and three-bedroom market-rate units with open kitchens, vaulted ceilings, ceiling fans and washer/dryer connections.

December 5, 2016

Multifamily Texas

Marcus & Millichap Arranges Sale of 116-Unit Multifamily Property in Brownsville, Texas

by Amy Works December 5, 2016

BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Casa Grande, a multifamily property located at 2425 Barnard Road in Brownsville. A partnership sold the 116-unit property for an undisclosed price. The buyer, a regional operator, plans to implement interior and exterior improvements at the property. Mike Moffitt Jr. of Marcus & Millichap represented the seller and secured the buyer in the deal.

December 5, 2016

Multifamily Texas

Castle Lanterra Properties Acquires 284-Unit Apartment Property in Corpus Christi

by Amy Works December 2, 2016

CORPUS CHRISTI, TEXAS — Castle Lanterra Properties has acquired Springs at Corpus Christi, a newly built multifamily property located at 5701 Timbergate Drive in Corpus Christi’s South Side region, for an undisclosed sum. Constructed in 2014, the 284-unit property features 17 different studio, one-, two- and three-bedroom floor plans, a resort-style swimming pool, 24-hour fitness center, dog park and complimentary car care area. This property is Castle Lanterra’s second acquisition in the city and its sixth in the state. The name of the seller was not released.

December 2, 2016

Multifamily Texas

Covenant Development, Parkcrest Builders Break Ground on 240-Unit Multifamily Property in San Marcos

by Amy Works December 2, 2016

SAN MARCO, TEXAS — Covenant Development and Parkcrest Builders have broken ground on an apartment community in San Marcos. The three-story property will feature 240 one- and two-bedroom units, a resort-style pool, clubhouse with an internet lounge and residential community space, a fitness area, covered parking, enclosed garages, leasable storage space and co-working space. The first units are expected to be delivered in summer 2017.

December 2, 2016

Hospitality Texas

The Stella Hotel to Open in March 2017 in Bryan, Texas

by Amy Works December 2, 2016

BRYAN, TEXAS — Managed by Trust Hospitality, The Stella is slated to open in March 2017 in Bryan. Located at the Texas A&M Biocorridor, the hotel will feature 176 guest rooms and suites, 10,000 square feet of indoor event space, 12,000 square feet of outdoor space and a restaurant. The hotel was designed by FAB Studio with interiors by Design DMU.

December 2, 2016

Retail Texas

Cordillera Ranch Development Starts Construction of Outfitter Center in Boerne, Texas

by Amy Works December 2, 2016

BOERNE, TEXAS — Cordillera Ranch Development Corp. has started the construction of an Outfitter Center at Cordillera Ranch, an 8,700-acre master-planned community in Boerne. Slated for completion in early 2017, the facility will house the River Club and its river and fishing equipment and provide a retail shop fully stocked with fishing, kayaking and outdoor equipment. The River Club is one of the seven resort-style clubs at Cordillera Ranch. Cordillera Ranch Development Corp. is a subsidiary of Texas-based DH Investment Co.

December 2, 2016

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