LONGVIEW, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Haven Care, a 108-bed skilled nursing facility in the East Texas city of Longview. The facility totals 24,653 square feet and is situated on three acres. The seller was a Texas-based partnership, and the buyer was an owner-operator with several other facilities in the state. Both parties requested anonymity. Matthew Alley of SLIB handled the transaction.
DALLAS — Wildcat Management has sold a 4,800-square-foot mixed-use building located at 600 S. Harwood St. near downtown Dallas. The former Liberty State Bank Building is a historic structure that houses retail and office uses. Wildcat originally purchased the building for $1 and relocated the property brick-by-brick from its previous location on Elm Street. The buyer was not disclosed.
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Cracking the Code: Winning Strategies for Affordable Housing in Any Market
Frustrated by high costs and a lending crunch for market-rate multifamily projects, savvy mainstream developers are seeking opportunities to build affordable housing. But what constitutes opportunity in a sector reliant on agency lending, community stakeholders and controlled rents? Definitions of “opportunity” in affordable housing vary widely, and favorable elements often involve additional and unique challenges. Not only must developers identify opportune site conditions, but they must also evaluate prospects to compete for funding, secure municipal approvals and win community support. And they need to complete the project within required timeframes in order for the asset to qualify as a good opportunity. REBusiness asked experts from two firms at the forefront of affordable housing development about what affordable housing “opportunity” looks like — and about the strategies they use to transform promising sites into viable projects. Beacon Communities is an established developer of affordable, market-rate and mixed-income housing, while Bohler’s land development consulting and site design services have helped clients identify and act on commercial real estate opportunities for more than 35 years. “We look at any development opportunity through three lenses,” says LeAnn Hanfield Curtin, vice president of development at Beacon. “Those are the availability of sites, ability to get …
KATY, TEXAS — Locally based development and investment firm Triten Real Estate Partners has sold a 343,760-square-foot industrial property located at 574 Pederson Road in the western Houston suburb of Katy. Pederson Logistics Center is a freestanding cross-dock building that sits on a 25-acre site and features 36-foot clear heights and an ESFR sprinkler system. At the time of sale, the building was fully leased to exercise equipment provider Johnson Health Tech. The buyer was Dallas-based Sealy & Co. The sales price was not disclosed.
RICHARDSON, TEXAS — Regional investment firm JAH Realty has acquired Richardson Heights, a 201,433-square-foot shopping center located on the northeastern outskirts of Dallas. Built in the 1950s, the center was 79 percent leased at the time of sale to tenants such as Alamo Drafthouse Cinema, T.J. Maxx and Half Price Books. Adam Howells, Chris Gerard, Ben Esterer and Keenan Ryan of JLL represented the seller, Silver Star Properties REIT, in the transaction. The sales price was not disclosed.
TOMBALL, TEXAS — Colliers has arranged the sale of a 48,500-square-foot industrial building in the northwestern Houston suburb of Tomball. The building sits on 7.3 acres at 915 S. Cherry St. and, according to LoopNet Inc., was originally constructed in 1974 and renovated in 2014. Tom Condon Jr. of Colliers represented the seller, an entity doing business as JPL Ventures South Cherry LLC, in the transaction. The buyer, Dixon Capital, was self-represented.
HOUSTON — Marcus & Millichap has brokered the sale of Yorktown Crossing, a 22,350-square-foot retail strip center in northwest Houston. The center sits on 2.6 acres and was fully leased at the time of sale to 12 tenants, all of which are signed to triple-net leases. Justin Miller and John Wagner of Marcus & Millichap’s Houston represented the seller, a private out-of-state investor, in the transaction. The buyer was a Houston-based private investor.
LEWISVILLE, TEXAS — Launch Entertainment, a concept centered on indoor trampolines, has signed a 46,039-square-foot retail lease in the northern Dallas suburb of Lewisville. The space is located within the Lakepointe Crossing shopping center that is anchored by Academy Sports + Outdoors, Conn’s HomePlus and Northern Tool + Equipment. Matt Luedtke and Taylor Black of Weitzman represented the undisclosed landlord in the lease negotiations. Venture Commercial represented Launch Entertainment.
LANCASTER, TEXAS — Walmart (NYSE: WMT) has opened a 730,000-square-foot food processing facility in Lancaster, a southern suburb of Dallas. About 500 people are expected to work at the facility, which will be used to receive and process produce, eggs, dairy products, flowers and frozen goods for delivery to nearby Walmart stores. The Arkansas-based discount retail giant, which also opened a fulfillment center in Lancaster in 2023, operates about 590 retail units in Texas and employs some 176,000 people throughout the state.
SAN ANTONIO — San Francisco-based mortgage banking firm Gantry has placed a $12 million loan for the refinancing of Lockaway Storage, a 716-unit facility in San Antonio. Built in 2018, the property spans 140,285 net rentable square feet and offers climate- and non-climate-controlled units, mini-office and warehouse spaces and oversized vehicle parking spaces. Tom Dao and Joe Foley of Gantry arranged the fixed-rate loan, which carries a five-year term and a 25-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.