Texas

Diamond Realty Forms Joint Venture for Construction of Industrial Park in Metro Dallas

by Haisten Willis July 31, 2015

WILMER, TEXAS — Diamond Realty Investments, a wholly owned subsidiary and U.S. real estate investment arm of Mitsubishi Corp., has formed a joint venture with Port Logistics Realty to develop the first phase of the 9 million-square-foot, $500 million Southport Logistics Park in Wilmer. The project is of the largest industrial developments currently underway in the United States. Diamond Realty has more than 20 years of real estate investment experience in the U.S., having invested in more than $2.5 billion in approximately 120 developments in the industrial, multifamily and student housing industries. Diamond Realty’s venture partner in Southport Logistics Park is Texas-based Port Logistics Realty, a real estate company controlled by CT Realty and Xebec Realty. When complete, the development will have up to nine buildings ranging is size from 400,000 to 1.5 million square feet on 530 acres. With the first two buildings scheduled for completion in the first quarter of 2016, the Class A industrial park has been designed for large users of distribution, logistics and e-commerce facilities by architectural firm Ware Malcomb. Southport Logistics Park is located within the Inland Port area of southern Dallas County, approximately 10 miles south of Downtown Dallas and directly across Interstate …

July 31, 2015

Velocis Arranges Sale of Two Austin Office Buildings

by Haisten Willis July 31, 2015

AUSTIN, TEXAS — Velocis, a private equity real estate manager, has sold two Class A Austin office buildings to Wedge Group, a Houston-based private equity firm. Totaling more than 170,000 square feet, the assets are Arboretum Atrium and Las Cimas I. They were purchased by Velocis in 2013 from Moore & Associates, an investor, owner and operator of commercial office properties. Arboretum Atrium is a 91,083-square-foot, Class A office building. Located in the Arboretum area in northwest Austin, the area serves as a hub for companies including Apple, Cisco, HP, Microsoft and Google. The building is located near restaurants, shops, hotels and other amenities and is one block from Hwy 183, MoPac and Loop 360. The asset is 100 percent leased. Las Cimas I is an 82,787-square-foot, three-story office building located in the center of the four-building Las Cimas office park. Built in 1999, the limestone building includes views of downtown Austin, on-site amenities and proximity to the Village of West Lake shopping center. The asset is 100 percent leased. Hale Umstattd and Leah Gallagher of Transwestern represented the seller in the transaction. Dallas-based Velocis has been active in real estate investment since 2011, purchasing 17 assets located in markets …

July 31, 2015

Loans Multifamily Texas

NorthMarq Arranges $34.6M Financing for Apartment Complex in Dallas

by Haisten Willis July 31, 2015

DALLAS — Jeff Frankel of NorthMarq Capital’s Chicago office has secured acquisition financing of $34.6 million for Aura Wycliff Apartments, a 334-unit class A multifamily property located at 4338 and 4343 Congress Ave. in Dallas. The transaction was structured with a full-term, interest-only loan. NorthMarq arranged financing for the borrower, an Illinois-based multifamily owner/manager, through its correspondent relationship with a life insurance company.

July 31, 2015

Industrial Loans Texas

CBRE Arranges $38M Financing for North Texas Industrial Portfolio

by Haisten Willis July 30, 2015

ARLINGTON, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the Pioneer 360 portfolio in Arlington. CBRE worked on behalf of LaSalle Investment Management to arrange the $38 million non-recourse loan. The nine-year, interest-only loan has a fixed rate of 3.8 percent and was secured through one of CBRE’s life company relationships. The Pioneer 360 portfolio consists of three warehouse and distribution facilities totaling 1.2 million square feet of rentable space. The buildings are 100 percent leased to 13 tenants. The Class A assets are LEED Gold-certified and have clear heights ranging from 24 to 35 feet. Pioneer 360 was completed in 2009 using tilt-up construction on a site formerly occupied by Forum 303 Mall. The portfolio is located in the Great Southwest submarket, providing access to I-30, I-20, State Highway 360, State Highway 161 and DFW International Airport. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured the financing on behalf of the borrower.

July 30, 2015

Industrial Office Texas

New Office/Warehouse Flex Development Planned in Metro Dallas

by Haisten Willis July 30, 2015

ALLEN, TEXAS — JaRyCo Development plans to begin construction on the first of three office/flex buildings known as Tech Center One at the company’s Tech Center on Greenville project in Allen. Construction will begin in September on the 94,000-square-foot project. JaRyCo Development is based in Allen, and the 38,000-square-foot Tech Center One is the 10th development project for the company in the city. Plans call for the project to be developed in phases unless tenant demand requires otherwise. Tech Center One will be built on the south end of the master-planned campus. A landscaped setback along Greenville Avenue with screened loading areas and a parking ratio in excess of code requirements will provide a new home for a variety of companies. An interior clear height of 18 feet, loading doors and a dock-high loading area will allow for product storage. The Tech Center on Greenville is located just north of the intersection of Bethany Drive and Greenville Avenues.

July 30, 2015

Loans Multifamily Texas

LMI Capital Secures $5M Refinancing of 100-Unit Multifamily Property in Metro Houston

by Haisten Willis July 30, 2015

CLEAR LAKE CITY, TEXAS — Jamie Mullin of LMI Capital has arranged $5 million in debt for the cash-out refinance of a garden-style apartment complex in the Clear Lake submarket of Houston. Mullin worked on behalf of the borrower to obtain a seven-year, fixed-rate loan. The entire term consists of interest-only payments.

July 30, 2015

Industrial Loans Texas

MCA Funds $5M Acquisition of Industrial Property in Tyler

by Haisten Willis July 30, 2015

TYLER, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has raised a $5 million joint venture equity investment to fund the acquisition of a vacant 536,000-square-foot industrial complex in Tyler. The complex was formerly owned and occupied by Carrier Corp., who sold the property after relocating the plant to Monterrey, Mexico. The property was acquired by a Tyler-based partnership sponsored by Buster Fitzgerald and Jerry Tate. After closing on the purchase in May, the new ownership completed a lease with Trane, a provider of HVAC and building management systems. Trane will initially occupy 100,000 square feet of the property with a takedown schedule to eventually occupy the majority of the complex. Scott Lynn and Brandon Wilhite of MCA arranged the $5 million equity investment with Dallas-based Provident Realty Advisors.

July 30, 2015

Loans Multifamily Texas

Mark One Capital Arranges Financing for Multifamily Property in Fort Worth

by Haisten Willis July 30, 2015

FORT WORTH, TEXAS — Mark One Capital has arranged financing for a 52-unit apartment property in Fort Worth. The loan amount was not released. Chris Parker of the firm’s Dallas office arranged the loan. The property, Shadowood Apartments, is located on Calmont Avenue along I-30. The non-recourse loan was structured with a 20-year term and amortizes over 30 years with an interest rate of 3.81 percent. The loan-to-value ratio was 75 percent.

July 30, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis July 29, 2015

IRVING, TEXAS — Greysteel, a Washington, D.C.-based real estate investment services firm, has arranged the sale of Hacienda Serena, a 38-unit garden-style apartment community in Irving. Boyan Radic, Doug Banerjee, Andrew Mueller, and John Marshall Doss of Greysteel served as advisor and agent to Hacienda Serena LLC in the disposition of the multifamily community to I & J – DSI LLC. The recently renovated apartment complex is immediately accessible to public transportation and major commuter thoroughfares such as the Downtown Irving/Heritage Crossing Station of TRE and Highway 183.

July 29, 2015

Industrial Texas

Alliance Architects Completes Design for Industrial Project in Metro Dallas

by Haisten Willis July 29, 2015

FLOWER MOUND, TEXAS — Alliance Architects Inc. has completed a two-building speculative industrial project totaling 584,000 square feet in Flower Mound. Designed for Exeter Property Group, Building 1 comprises 231,754 square feet and Building 2 totals 351,832 square feet. F.A. Peinado provided construction services. The project is located within Lakeside Ranch, a 230-acre business consisting of more than 3 million square feet of primarily industrial space. Alliance Architects has designed multiple buildings in the park totaling nearly 2 million square feet. The master-planned development is located two miles from DFW Airport and features enhanced landscaping and a 30-acre natural area with walking trails. Alliance Architects’ team members include Chad Michel and Scott Franckowiak.

July 29, 2015

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