Texas

Bascom Group Acquires Apartment Community in Metro Austin

by Haisten Willis June 7, 2016

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.

June 7, 2016

Health Wildcatters Plans to Move to Pacific Place Tower in Dallas

by Haisten Willis June 7, 2016

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.

June 7, 2016

Multifamily Texas

Abby Development to Build Apartment Community in Tyler

by Haisten Willis June 7, 2016

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.

June 7, 2016

Retail Texas

Bright Realty Brokers Land Sale in Castle Hills Area for New Car Wash

by Haisten Willis June 6, 2016

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.

June 6, 2016

Office Texas

Transwestern Negotiates Land Sale in Sugar Land for Proposed School

by Haisten Willis June 6, 2016

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.

June 6, 2016

Loans Multifamily Texas

BMC Capital Provides $4.3M Loan for Apartment Property in Dallas

by Haisten Willis June 6, 2016

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.

June 6, 2016

Multifamily Texas

Castle Lanterra Acquires 455-Unit Apartment Community in Metro Austin

by Haisten Willis June 6, 2016

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.

June 6, 2016

Office Texas

Davis Commercial Arranges Office Lease in Houston

by Haisten Willis June 6, 2016

HOUSTON — Mary Quinn Law Firm has leased a newly renovated office building located at 106 Avondale St. in Houston. Originally built in 1910, the property is located in the Montrose area of Houston and spans 4,880 square feet. Ron McWherter of CBRE represented the tenant, and Ryan Neyland of Davis Commercial Real Estate represented the landlord, Toomey-Guseman Ltd.

June 6, 2016

Hampton-Inn-Suites-Downtown-Dallas-Texas

Hospitality Texas

Hampton Inn & Suites Opens in Downtown Dallas

by Haisten Willis June 3, 2016

DALLAS — Hampton Inn & Suites Dallas Downtown is now open. NewcrestImage manages the hotel, which is located at 1700 Commerce St. in the former Allen Building. The renovated space is located near the Majestic Theatre, the Dallas Convention Center, Dealey Plaza and the Dallas World Aquarium. American Airlines Center is two miles away, and the Dallas/Fort Worth International Airport is 20 miles away. The hotel provides a breakfast of eggs, oatmeal and waffles, in addition to Hampton’s On the Run breakfast bags that feature multi-grain bars, apples, breakfast bread loaves and bottles of water. Amenities at the hotel include free Wi-Fi, a 24-hour business center, 500-square-foot boardroom, indoor pool and a fitness center. Guestroom amenities include a 49-inch TV, microwave, refrigerator and coffee maker.

June 3, 2016

Industrial Texas

PLR Acquires Infill Site in Metro Dallas for Spec Warehouse

by Haisten Willis June 3, 2016

GRAND PRAIRIE, TEXAS — Port Logistics Realty (PLR), a national industrial real estate development and investment company, has purchased an infill site within the Great Southwest Industrial Park in Grand Prairie to develop an 83,125-square-foot speculative warehouse. The Class A building will be situated midway between Dallas and Fort Worth, just south of Dallas-Fort Worth International Airport with access to I-30 and Texas State Highways 183 and 360. According to CBRE, the overall vacancy rate for the 96 million-square-foot submarket is just above 4 percent. PLR plans to break ground on the warehouse in late summer 2016, and completion is slated for the first quarter of 2017.

June 3, 2016

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