HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a 258,999-square-foot industrial portfolio in Houston. The portfolio consists of five Class B, light industrial buildings with a total of 97 units that are located across three different unnamed sites. The portfolio was 81 percent leased at the time of sale. The seller and sales price were not disclosed.
HOUSTON — Colliers has brokered the sale of a 127,000-square-foot industrial building in northeast Houston. The shallow-bay building, known as Northport Business Park, sits on an eight-acre site at 7101-7157 N. Loop E. Jason Scholtz of Colliers represented the buyer, Harbor Capital, in the transaction. Jason Gandy and Derrick Jones represented the seller, Sealy & Co., on an internal basis. The sales price was not disclosed.
ABILENE, TEXAS — General contractor Hoar Construction has opened a new office in the West Texas city of Abilene. The office, which is located at 104 Pine St. and is officially open for business, is the company’s fourth in Texas and 11th nationwide. Hoar Construction’s presence in the Abilene area began in 2006 when it was hired to renovate and expand Abilene Regional Medical Center.
Nova Capital Arranges $55.8M in Acquisition Financing for Multifamily Property in Weatherford, Texas
WEATHERFORD, TEXAS — Los Angeles-based Nova Capital has arranged $55.8 million in acquisition financing for The Mark at Weatherford, a 355-unit multifamily property located on the western outskirts of Fort Worth. The financing consists of a $37.8 million Fannie Mae senior loan provided by Walker & Dunlop and $18 million in preferred equity from Los Angeles-based Tryperion Holdings. The complex was constructed on an 11.5-acre site in 2021 and was 94 percent occupied at the time of sale. The Mark at Weatherford offers a mix of one-, two-and three-bedroom floor plans and amenities including a pool, outdoor grilling and dining stations, business center, dog park and a fitness center. Steven Yazdani of Nova Capital arranged the debt on behalf of the borrower, Darwin German Real Estate.
RICHMOND, TEXAS — JLL has brokered the sale of The Wildwood Apartments, a 300-unit multifamily community located within the Veranda master-planned development in the northern Houston suburb of Richmond. Built in 2022, The Wildwood features one- and two-bedroom units with stainless steel appliances, stone countertops and private yards/patios. Amenities include a conservatory, dog parks, package lockers, a clubhouse with library and kitchen, pool and a fitness center. Dustin Selzer of JLL represented the seller, Allen Harrison Co., in the transaction. John Brownlee of JLL arranged acquisition financing through New York Life on behalf of the buyer, Price Realty Corp.
MCKINNEY, TEXAS — Lee & Associates has negotiated a 171,398-square-foot industrial lease in the northern Dallas suburb of McKinney. The tenant, farm equipment and accessories provider Pegasus Industries, will occupy the entirety of Building 4 within McKinney Trade Center, which is currently under construction. Ken Wesson and Adam Graham of Lee & Associates represented the landlord, Chicago-based ML Realty Partners, in the lease negotiations. Brett Lewis, also with Lee & Associates, represented the tenant.
DALLAS — Law firm Munsch Hardt Kopf & Harr has taken occupancy of its 77,009-square-foot office space at Ross Tower, a 1.1 million-square-foot building located at 500 N. Akard St. in downtown Dallas. The firm relocated from floors 36, 38 and 39, where it leased space since 2005, to floors 40 through 42. The new lease term is 15 years, and the space features a variety of conference room layouts, a work café and an internal stairwell that connects all three floors. HPI Real Estate Services & Investments owns Ross Tower.
HOUSTON — Guardian, a provider of height safety products and systems, has signed a 71,645-square-foot industrial lease at The Mill at 249 in Tomball, a northwestern suburb of Houston. Beau Kaleel and Brooke Swerdlow of Cushman & Wakefield represented the landlord, an affiliate of Greystar, in the lease negotiations. Tom Condon, Jr., Greg Cizik, Edward Edson and John Grimsley of Colliers represented Guardian.
GEORGETOWN, TEXAS — A partnership between two Phoenix-based developers, Mosaic and NexMetro Communities, will build Avilla Berry Creek, a 224-unit build-to-rent residential community that will be located in the northern Austin suburb of Georgetown. The total development cost of the project is $66 million. Avilla Berry Creek will feature one-, two- and three-bedroom detached homes and duplexes that will range in size from 690 to 1,265 square feet and will include private backyards and front patios. The 25-acre site will also house communal amenities such as a pool, clubhouse, community garden and a dog park. Completion is slated for summer 2025.
WACO, TEXAS — Global design-build firm Populous and general contractor J.T. Vaughn Construction have completed the Mark & Paula Hurd Welcome Center, a civic project on Baylor University’s campus in Waco. The center features 17,000 square feet of total meeting space, including a 13,560-square-foot ballroom, a 1,800-square-foot alumni meeting suite and a 2,850-square-foot auditorium, in addition to the 23,500-square-foot grand hall. The building’s total footprint is 136,000 square feet.