Texas

Hilton, Centurion to Open The Statler Hotel & Residences in Dallas

by Haisten Willis April 29, 2015

DALLAS — Hilton Worldwide and Dallas-based Centurion American Development have signed a franchise license agreement to open The Statler Hotel & Residences in Dallas. Opening in October 2016, the refurbished hotel will be part of Curio by Hilton, a brand of upscale and luxury hotels for travelers. The original Dallas Statler Hilton was located at 1914 Commerce St. in downtown Dallas. Centurion American Development Group’s master plan includes 161 hotel rooms on the lower five floors and 219 residences on the top 11 floors. The building will include meeting space, retail and office space, four restaurants and a hotel lounge. A new music venue is also planned in the 14,500-square-foot ballroom. Development of the building is set to start at the beginning of May. Plano-based Aimbridge Hospitality will manage the hotel.

April 29, 2015

Harlingen Airport in Rio Grande Valley Designated as Shovel-Ready Site

by Haisten Willis April 29, 2015

HARLINGEN, TEXAS — The Harlingen Aerotropolis at Valley International Airport has been designated as a Certified Site by McCallum-Sweeney Consultants, a selection and economic development consulting firm. American Electric Power hired McCallum-Sweeny Consulting Services to help develop and manage the process. After the applicant completes certification requirements, McCallum-Sweeney certifies that the property is ready for development, enhancing the marketability of the site. Harlingen Aerotropolis at Valley International Airport (formerly Harlingen Industrial Airpark) includes 479.5 acres.

April 29, 2015

Loans Multifamily Seniors Housing Texas

Q10 KDH Arranges Financing for Retirement Community in Houston

by Haisten Willis April 29, 2015

HOUSTON —Larry Peters and Adam Unger of Q10 Kinghorn, Driver, Hough & Co. have arranged financing for a 100-unit seniors housing apartment community in Houston. The garden-style property is currently 97 percent occupied. The loan included a 70 percent loan-to-value ratio and an initial interest rate below 3 percent. The floating rate can be converted to fixed rate during the seven-year term at no cost. With this loan, the borrower also secured cash out for capital improvements.

April 29, 2015

Loans Multifamily 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

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