Texas

Hunter Hotel Advisors Brokers Sale of Two Hotels in Northwest Austin

by Katie Sloan October 13, 2016

AUSTIN, TEXAS — Hunter Hotel Advisors has arranged the sale of two hotels in Austin: the 80-room StayBridge Suites Austin Northwest, and the 82-room Fairfield Inn & Suites Austin Northwest. Hunter Hotel’s Los Angeles office represented the seller, Excel Hotel Group, in both transactions. The buyer of both assets was an unnamed opportunity fund based in New York. The buyer plans to invest $1 million in the Staybridge Suites hotel, which was built in 2009. The Fairfield Inn was built in 2014. Hunter’s Los Angeles office arranged the sale of six hotels in the third quarter and has at least five sales scheduled to close this quarter.

October 13, 2016

Adler Kawa Real Estate Acquires 296,781 SF of Industrial Space in Austin

by Katie Sloan October 12, 2016

AUSTIN, TEXAS — Adler Kawa Real Estate Advisors has acquired five single-story industrial buildings known as Kramer 1-5 at Braker Center in Austin. The buildings total 296,781 square feet and feature 21-foot clear heights and floor plans that accommodate office, warehouse, production and showroom space. Hale Umstattd and Leah Gallagher of Transwestern represented the undisclosed seller in the transaction. Davis Bass of HPI Real Estate Services & Investments will remain in charge of leasing. PNC Bank provided financing for the acquisition.

October 12, 2016

Multifamily Texas

One Uptown High-Rise Apartment Tower to Open in Dallas

by Katie Sloan October 12, 2016

DALLAS — Stoneleigh Cos. and USA Infrastructure Investments will open One Uptown, a 196-unit high-rise apartment tower in Uptown Dallas, in January 2017. The project, located on McKinney Avenue, will offer units with private balconies, floor-to-ceiling glass windows, washers and dryers and large walk-in closets with Elfa closet shelving systems. Community amenities will include a rooftop pool, a 9,000-square-foot sky deck and lounge, a relaxation zone with a fire pit, a demonstration kitchen, cabanas, a private fitness studio, an entertainment room, and two hospitality suites for out-of-town guests. The tower will also feature more than 18,000 square feet of restaurant space occupied by Circo, a five-star European restaurant, and Fogo de Chão, a Brazilian steakhouse. Dallas-based architect Phil Shepard designed the development.

October 12, 2016

Retail Texas

Planet Fitness to Open at Weslaco Shopping Center in Southern Texas

by Katie Sloan October 12, 2016

WESLACO, TEXAS — Planet Fitness plans to open a 19,413-square-foot gym at Weslaco Shopping Center in Weslaco in early 2017. The retail center, located at 1901 W. U.S. Route 83 in southern Texas, is managed by Cencor Realty Services. Tenants at the center include Ross Dress for Less, Bealls, Starbucks Coffee, Dollar Tree and Buffalo Wild Wings. Marcus Shaffer and Dan Mitchell of The Weitzman Group handled negotiations on behalf of the landlord.

October 12, 2016

Retail Texas

Cohen Financial Arranges $5.2M in Financing for Two Retail Centers in Dallas-Fort Worth Metro Area

by Katie Sloan October 12, 2016

FORT WORTH AND SOUTHLAKE, TEXAS — Cohen Financial has arranged two loans totaling $5.2 million to refinance two retail centers in the Dallas-Fort Worth area. The transactions included a $4.1 million loan for La Marina Plaza, a 30,000-square-foot retail center in Fort Worth anchored by Texas Health Resources, and a $1.1 million loan for Southlake Plaza, a 9,800-square-foot retail center in Southlake. Kevin Sellers of Cohen Financial’s Phoenix office secured the two fixed-rate, three-year loans through Commerce National Bank on behalf of the borrower, a local commercial real estate investor. The borrower plans to market and sell both assets within two years.

October 12, 2016

Industrial Texas

Medical Supply Company Leases 9,600 SF at Racepark Center in Houston

by Katie Sloan October 12, 2016

HOUSTON — Armstrong Medical Supply LLC has leased 9,600 square feet within Racepark Center at 6818 N. Sam Houston Parkway West in Houston. Lee & Associates’ Thomas Leger and Mike Spears represented the landlord, Turnaround Properties LLC. Richard Frye of Adkisson Group Inc. represented the tenant.

October 12, 2016

Industrial Loans Texas

CBRE Arranges $32.1M in Acquisition Financing for Industrial Portfolio in Dallas

by Katie Sloan October 11, 2016

DALLAS — CBRE Capital Markets’ Debt & Structured Finance team has arranged $32.1 million in financing for the acquisition of a portfolio of industrial properties in Dallas. The buyer of the portfolio, known as Riverbend, is a joint venture between Augustus Investment Holdings and Taurus Investment Holdings. Citizens Bank provided the capital. The acquisition includes 15 buildings totaling 962,000 square feet. The portfolio was 95 percent leased at the time of sale. The specific properties in the portfolio were not named. Scott Lewis and Greg Greene with CBRE’s Dallas office originated and secured the financing.

October 11, 2016

Industrial Texas

Trammell Crow, Clarion Partners Acquire 95-Acre Site for Industrial Development in Austin

by Katie Sloan October 11, 2016

AUSTIN, TEXAS — Trammell Crow Co. (TCC) and Clarion Partners, on behalf of a comingled fund, have acquired a 95-acre site for the development of Park 183, a master-planned industrial business park. The 964,000-square-foot project, located at the intersection of Burleson Road and U.S. Route 183 in Austin, will be developed in multiple phases. Phase I will consist of the speculative development of two buildings totaling 247,000 square feet and significant road, drainage and utility infrastructure for the industrial park. Construction is expected to begin in January 2017. The design team for Park 183 includes STG Design, Jones|Carter, Wylie Consulting Engineers and Bihner Chin Engineering Ltd. Leasing and marketing will be handled by Mark Emerick, John Barksdale, Ace Schlameus and Darryl Dadon of CBRE.

October 11, 2016

Multifamily Texas

Embrey Partners Breaks Ground on 350-Unit Multifamily Community in Frisco

by Katie Sloan October 11, 2016

FRISCO, TEXAS — Embrey Partners has broken ground on Domain At The Gate, a 350-unit multifamily community located within the master-planned community of The Gate in Frisco. The community will offer one- and two-bedroom units. Shared amenities will include an 11,000-square-foot clubhouse; a two-level fitness center; a golf simulator; a dog spa; and a bike garage. The property is scheduled for completion in summer 2018. The Gate master-planned community is currently being developed by Invest Group Overseas, and will offer office, residential, hospitality and retail space.

October 11, 2016

Loans Multifamily Texas

BMC Capital Arranges $2.6M Loan for Multifamily Property in San Antonio

by Katie Sloan October 11, 2016

SAN ANTONIO — BMC Capital has arranged a $2.6 million bridge loan for the purchase and renovation of The Dunes Apartments in San Antonio. The property offers one- and two-bedroom units. Community amenities include laundry facilities, a swimming pool and night patrol. The three-year, fixed-rate loan featured a 75 percent loan-to-cost ratio with two to three years of interest-only payments, as well as funds for significant capital improvements. The loan was arranged by BMC on behalf of the undisclosed borrower through a non-bank lender.

October 11, 2016

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