SAN ANTONIO and MIDLAND, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has negotiated retail sales in San Antonio and Midland. In the first transaction, the group arranged the sale of a Red Lobster in San Antonio. Parker Carroll of Coldwell Banker Commercial represented the buyer in the acquisition of the property, which was under a 25-year net lease. In the second transaction, Coldwell Banker Commercial negotiated the sale of Scotsdale Square in Midland. The three-tenant strip center is 100 percent leased. Carroll represented the seller in the transaction.
AUSTIN, TEXAS — Austin-based developer W2 Real Estate Partners (W2) and joint venture seniors housing partner Bridgewood Property Co. are planning to build a 206-unit senior living project called The Village at the Triangle. The project will be located on the final site in the Triangle mixed-use development in north central Austin. Construction will begin in August and will be complete in early 2018. The Village at the Triangle will be located on a 1.5-acre site within the 30-acre Triangle development, which was first conceived in 2004 and now features more than 750 apartments, 120,000 square feet of retail, restaurant and commercial space, a rehab hospital and a three-acre park. The Village at the Triangle will feature seven floors of apartment units built above two levels of parking. Independent living, assisted living and memory care service options will be offered within the building, enabling residents to age in place. The luxury suites will range in size from efficient memory care units to independent living two-bedroom units spanning more than 1,300 square feet. The average unit size will be 882 square feet and individual units will feature private balconies and floor-to-ceiling glass windows with views of downtown Austin’s skyline and the …
RICHARDSON, TEXAS — Transwestern Development Co. will break ground this month on 3400 @ CityLine, a 310,000-square-foot speculative office building. Located at 3400 N. Central Expressway, the Class A building is adjacent to the 183-acre CityLine campus in Richardson. The five-story project will be developed by a joint venture including a fund advised by the real estate business of UBS Asset Management, Transwestern Development Co. and Malouf Interests. Slated for delivery in mid-2017, the building will feature design elements including floor-to-ceiling glass and 10-foot ceilings. The property will offer five parking spaces per 1,000 square feet in a parking structure. On-site amenities will include a deli and lounge area, fitness center and a 40,000-square-foot exterior courtyard. Transwestern’s Duane Henley and Nathan Durham are providing leasing services. Construction financing is being provided by a consortium led by Amegy Bank N.A., a division of Zions Bank N.A., and includes American National Bank of Texas and Commerce Bank, a Missouri bank and trust company. The consultant team includes architect BOKA Powell, structural consultant Cardno Haynes Whaley, mechanical, electrical and plumbing engineer DBR, civil engineer Halff & Associates and landscape architect Pacheco Koch.
ROUND ROCK, TEXAS — The Bascom Group has acquired a multifamily asset with over 300 units in the Austin suburb of Round Rock. De’On Collins, John Brownlee and Charles Halladay of HFF arranged acquisition financing on behalf of Bascom Group. Sean Sorrell with HFF represented the seller in the transaction. The property consists of 19 residential buildings and one standalone leasing center spread across 17 acres. The unit mix is 51 percent one-bedroom units, 40 percent two-bedroom units and 9 percent three-bedroom units. Community amenities include a clubhouse, fitness center, swimming pool, picnic areas and a pet park.
DALLAS — Health Wildcatters, a Dallas-based seed accelerator program, is relocating to 1910 Pacific Ave. in downtown Dallas. Health Wildcatters will occupy the entire top floor of the 20-story building, which is owned by Boxer Property. The 16,620-square-foot space will provide the company with the ability to host functions and events, create collaborative workspace for partners and house recent graduates of the accelerator program by offering temporary office space. Health Wildcatters has partnered with Page to design the interior space. Health Wildcatters will move into the Pacific Place tower alongside local startups including Zerologic, Deep Rapid Design Studio, Twentynine Thirty Creative and Launch DFW.
TYLER, TEXAS — Abby Development, a developer, owner and operator of seniors housing and apartment communities, plans to develop The Abby at Tyler, a 234-unit apartment community near the intersection of Grande Boulevard and Old Jacksonville Highway in Tyler. The Abby will include amenities such as a stocked fishing lake, pool with cabana area, dog park, outdoor grilling area, landscaped courtyards and direct access garages. The Abby will offer one-, two- and three-bedroom floorplans equipped with stainless steel appliance packages, washers and dryers, granite countertops, nine-foot ceilings and outdoor patios. The Abby at Tyler is scheduled to break ground during the second quarter of 2017 and will open in the third quarter of 2018.
LEWISVILLE, TEXAS — Bright Realty has brokered the sale of 1.5 acres of land in the Castle Hills area of Lewisville near State Highway 121. The site, owned by SEC JWH LLC, is located on the southeast corner of Josey Lane and Windhaven Parkway and will be used for a car wash. The corner will be anchored by an ALDI grocery store and is adjacent to the Target-anchored Lewisville Towne Centre, Kroger-anchored Castle Hills Marketplace and The Realm, a 1.5 million square-foot mixed-use Bright Realty development under construction. Bright Realty’s Timothy McNutt, Britton Lankford and Mason Bakken represented the seller in the transaction. Ruben Reynoso and Josh Brian with Tenant Real Estate Advisors represented the buyer, NLKH Ventures Corp.
SUGAR LAND, TEXAS — Transwestern has represented Thirteen Eldridge Ltd. in the sale of a six-acre tract in Sugar Land. The unnamed buyer plans to develop the land into a school. Transwestern’s Carlos Bujosa and David Schwarz brokered the transaction. The site is located on the east line of Eldridge Road, a half-mile south of West Airport Boulevard.
DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $4.3 million loan for the cash-out refinance of Andora Apartments, a multifamily property located in Dallas. The loan features a 3.6 percent fixed interest rate for five years, 75 percent loan-to-value ratio, no pre-payment penalty and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
PFLUGERVILLE, TEXAS — Castle Lanterra Properties (CLP) has acquired 1825 Apartments, a 455-unit multifamily community in the Austin suburb of Pflugerville. This is the third Austin-area acquisition for the New York-based firm. The community, named for State Route 1825 that fronts the property, consists of 60 buildings that were built in two phases. The 351-unit 1825 Place was completed in 2001, and the 104-unit 1825 Cottages was originally constructed in 1986. Community amenities include a pool with a waterfall, fitness center, business center with Wi-Fi access, outdoor playground, pet park, carports, attached and detached garages and a recently renovated clubhouse.