Texas

HFF Secures Financing for Apartment Complex in Austin

by Haisten Willis April 29, 2015

AUSTIN, TEXAS — HFF has arranged financing for Vineyard Hills Apartments, a 202-unit apartment community in Austin. HFF worked on behalf of the borrower to secure the 10-year, 3.58 percent fixed-rate loan through a life insurance company lender. Proceeds were used to refinance existing debt on the property. The loan was structured as a forward loan with the rate locked five months prior to closing. Vineyard Hills Apartments is located at 7631 U.S. Highway 290 W. near State Highway 71 in the Oak Hill area of southwest Austin. Completed in 2000, the property features one-, two- and three-bedroom floor plans ranging between 640 and 1,315 square feet. Amenities include a swimming pool, heated spa, clubroom and business center. The property is 96 percent leased. Robert Wooten led the HFF debt placement team representing the borrower.

April 29, 2015

Mixed-Use Texas

Trademark Property Co. Rebrands Mixed-Use Development in Metro Dallas

by Haisten Willis April 28, 2015

CEDAR HILL, TEXAS — Trademark Property Co., the operating partner for Uptown Village at Cedar Hill, has announced the 610,000-square-foot shopping center will be rebranded as Hillside Village. The new name and corresponding new brand were selected to reflect the garden-like look and feel planned as part of a multi-million dollar property renovation to attract a broader trade area, and to pay homage to the community in which it lies. Planned improvements to Hillside Village include enhanced entrances, public spaces and vehicular access, upgraded landscaping, façade improvements, a new children’s play area, new amenities for adults and children, and new signage throughout the property. Hillside Village currently includes 350,000 square feet of specialty stores and restaurants. Anchor retailers are Barnes & Noble, Dillard’s and Dick’s Sporting Goods along with 31,000 square feet of office space. The center features more than 65 tenants including Charming Charlie, Chico’s, H&M (opening this fall) Hollister, James Avery, Old Navy, Papaya, The Children’s Place and Victoria’s Secret.

April 28, 2015

Loans Multifamily Texas

BMC Capital Provides $2M Loan for Apartment Complex in Longview

by Haisten Willis April 28, 2015

LONGVIEW, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2 million purchase loan for a 100-unit apartment complex located in Longview. The seven-year loan includes a 4.35 percent interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.

April 28, 2015

Multifamily Texas

Huffines Breaks Ground on Apartment Community in Metro Dallas

by Haisten Willis April 28, 2015

ROWLETT, TEXAS — Huffines Communities has broken ground on a 650-unit apartment community in Rowlett. Harmony Hill, which will open in two phases, is located at the intersection of Merritt Road and the President George Bush Turnpike. Pre-leasing for the 326 apartments in Harmony Hill’s Phase I will begin in spring 2016. Harmony Hill will include one- and two-bedroom apartment homes in multiple floor plans ranging from 560 to 1,263 square feet. Planned amenities include a 7,000-square-foot clubhouse with a fitness center, business center, swimming pool and pavilion. JHP Architecture / Urban Design designed the buildings and Moore Design Group developed the interior design.

April 28, 2015

Avaya-Regional-Data-Demo-and-Support-Center

Office Texas

M&M Arranges Sale of Office Complex in Metro Dallas

by Haisten Willis April 28, 2015

COPPELL, TEXAS — Marcus & Millichap has arranged the sale of a 96,500-square-foot, single-tenant office building fully leased to Avaya Inc. Built in 1998 on 6.8 acres, the two-story office building is located near the Dallas/Fort Worth International Airport at 1111 Freeport Parkway in Coppell. The property features frontage on I-635, the Lyndon B. Johnson Freeway. Ron Hebert of Marcus & Millichap’s Dallas office represented the seller, KP Dallas LLC. Steve Sauter of firm’s Palo Alto office represented the buyer, Coliseum Storage Associates LLC.

April 28, 2015

Hospitality Texas

Home2 Suites by Hilton Opens New Location in Austin

by Haisten Willis April 28, 2015

AUSTIN, TEXAS — Home2 Suites by Hilton Austin North/Near the Domain is now open. The mid-tier, all-suite hotel brand is designed for business travelers and extended stay guests. Home2 Suites now has nearly 200 hotels in its property pipeline, with another 30 locations scheduled to open by the end of this year. Home2 Suites’ portfolio expansion into Austin, which brings 135 new hotel rooms to the state of Texas, comes on the heels of a major spike in demand for the extended-stay hotel product. Esperanza Hospitality LLC owns Home2 Suites Austin North/Near the Domain, which is located at 2800 Esperanza Crossing.

April 28, 2015

Office Texas

Former Belo Headquarters in Dallas to be Renovated

by Haisten Willis April 27, 2015

DALLAS — 400 Record, a downtown Dallas office building formerly known as the Belo Building, will be renovated. The Hartland-Mackie family owns the 17-story, 235,000-square-foot office tower located at the corner of Wood and Record streets. Design firm Gensler is leading the renovation, which will include upgrades to the entrances, a new glass-walled lobby, a garden on the top floor, a restaurant, new fitness center and new conference center. Another major feature of the remodel is a restaurant and bar, which will appear to float in the space and is covered in bronze metal panels. Restaurant consultant Sharon Hage is working with the Hartland-Mackie family on the dining space.

April 27, 2015

Retail Texas

Cencor Breaks Ground on Retail Development in Metro Houston

by Haisten Willis April 27, 2015

CLUTE, TEXAS — Cencor Realty Services has broken ground on Woodshore Marketplace, a 140,000-square-foot shopping center at the southeast corner of Oyster Creek Drive and Dixie Drive within the master-planned Woodshore community near Houston. A 123,000-square-foot Kroger Marketplace will anchor Woodshore Marketplace. The Kroger Marketplace is projected to open in December. In addition to the Kroger, Woodshore Marketplace will also include 16,450 square feet of in-line space, along with three pad sites for freestanding concepts. Steve Chandler of Cencor is directing development of the community center. Woodshore Marketplace is set for completion in later this year.

April 27, 2015

Office Texas

Sperry Van Ness / Visions Commercial Arrange Office Lease in Fort Worth

by Haisten Willis April 27, 2015

FORT WORTH, TEXAS — Sperry Van Ness / Visions Commercial have arranged three new office lease transactions at Fossil Creek Station office complex in Fort Worth. CelSana LLC leased 1,091 square feet for a three-year term beginning May 1; Scott Boyd, CPA leased 1,091 square feet for a three-year term that began April 1; and Blue Star Consulting leased 1,091 square feet for a three-year term that began March 1. Located at 6642 N. Riverside Drive, Fossil Creek Station is a four-building office complex situated just north of I-820 and east of I-35 off Western Center Blvd. The property was built in 2006. Clint Montgomery with Sperry Van Ness / Visions Commercial represented the property owner, Value Builders Inc., in all three transactions.

April 27, 2015

Multifamily Student Housing Texas

Balfour Beatty Begins Third Phase of Housing Development at Tarleton State

by Haisten Willis April 27, 2015

STEPHENVILLE, TEXAS — Balfour Beatty has reached financial close on a new, $76 million phase of development for a student housing project at Tarleton State University, a member of the Texas A&M University System. In this third phase of the partnership, the Balfour Beatty team will deliver more than 1,000 student housing beds at the University’s Stephenville campus, as well as academic space for the ROTC program and shell space for a university-operated health clinic. Balfour Beatty Campus Solutions, a developer and operator of infrastructure projects for the university market, will serve as the lead developer on the project, which is scheduled to break ground later this month and open in August 2016. Dallas-based Balfour Beatty Construction will continue as the construction partner on the project. Designed by BOKA Powell Architects, a new 616-bed housing facility will be located adjacent to the football stadium, and will include two four-story structures with both four- and two-bedroom units in a modified suite configuration that will include private bedrooms, semi-private baths, a living room and kitchenette. Balfour Beatty will also renovate and expand Traditions Hall, an existing 180-bed student housing facility that will grow to 446 beds configured in double and single semi-suite …

April 27, 2015

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