LOCKHART, TEXAS — Austin-based Evergen Equity has purchased a 284,000-square-foot industrial property in Lockhart, a southern suburb of Austin. The sale includes nine acres of undeveloped land. While under contract, Evergen negotiated a 49,000-square-foot lease with Hill Country Foodworks for its new headquarters and main distribution facility. Stream Realty Partners will market the remainder of the space/land for lease/sale. The seller and sales price were not disclosed.
HOUSTON — Hilco Real Estate has arranged the $27 million bankruptcy sale of a 285,000-square-foot office building in Houston’s Galleria district. The 11-story building is known as TwentyFour25 Galleria and was originally built in 1980 and renovated in 2015, according to LoopNet Inc. Local bankruptcy law firm Jones Murray LLP, the trustee of the property, engaged Hilco to manage the sale process, which was conducted via virtual auction. The buyer was not disclosed.
HOUSTON — Locally based investment and brokerage firm Finial Group has acquired a 30,326-square-foot industrial building in southeast Houston. According to LoopNet Inc., the single-tenant property at 6666 Gulf Freeway was built on 1.3 acres in 1965 and features 18-foot clear heights, three dock-high loading doors and two grade-level drive-in doors. Christian Villarreal and Chase Tucker handled the acquisition for Finial Group on an internal basis. The seller and sales price were not disclosed.
FRISCO, TEXAS — Wintrust Commercial Finance, a Texas-based division of Wintrust Asset Finance, has signed a 19,000-square-foot office lease renewal at HALL Park in Frisco. Tyler Thomas of Trumont Commercial represented the tenant, which first committed to HALL Park in 2015, in the lease negotiations. HALL Group owns the property, which is currently in the midst of a $7 billion redevelopment.
AUSTIN, TEXAS — The NRP Group, a multifamily developer based in Cleveland, has completed Bridge at Estancia, a 318-unit affordable housing project in South Austin. Designed by HEDK Architects, the property is located on a 15-acre site within the 600-acre Estancia Hill Country master-planned development. Units come in one-, two-, three- and four-bedroom floor plans and are reserved for renters earning 60 percent or less of the area median income. Amenities include a pool, fitness center, outdoor grilling and dining areas, business center, activity room and a playground. Financing for the project included a $20 million housing tax credit investment from Hudson Housing Capital, along with construction and permanent financing provided by BWE and Deutsche Bank.
AUSTIN, TEXAS — AOG Living, the Houston-based developer and operator formerly known as Allied Orion Group, has broken ground on Novum Capitol View, a 168-active adult project that will be located in southeast Austin. Designed by Humphreys & Partners, the property will offer studio, one- and two-bedroom units that will be reserved for renters age 55 and above. Amenities will include a saltwater pool, fitness center, hair and nail salon, theater and game lounge, dog park, community gardens and an activity room. CBRE arranged construction financing for the project, completion of which is slated for late 2025.
TYLER, TEXAS — Colliers Mortgage has arranged a $34.6 million acquisition loan for The Foundry, a 675-bed student housing property that serves the University of Texas at Tyler, located about 120 miles east of Dallas. The Foundry is located across the street from campus and offers amenities such as a pool, clubhouse, game room, fitness center, outdoor picnic and grilling areas and a sand volleyball court. Greg Young of Colliers Mortgage originated the debt, which includes proceeds for capital improvements. The borrower and direct lender were not disclosed.
CYPRESS, TEXAS — MedProperties, a Dallas-based healthcare real estate private equity firm, has purchased a 44,659-square-foot medical office building in the northwestern Houston suburb of Cypress. Completed in 2024, the building was fully leased at the time of sale to Memorial Hermann Health System and Athlete Training + Health. Capital One and Siemens Financial Services provided acquisition financing for the deal. The seller and sales price were not disclosed.
HOUSTON — Consor Engineers LLC has signed a 26,074-square-foot office lease in Houston’s Energy Corridor area. The tenant will relocate from 15340 Park Row Blvd. to the 14-story, 350,000-square-foot Eldridge Oaks building. Brad Fricks and Matt Asvestas of Stream Realty Partners represented the landlord, an affiliate of Los Angeles-based Broadshore Capital Partners, which recently renovated the building, in the lease negotiations. Taylor Wright of Colliers represented Consor Engineers.
FREEPORT, TEXAS — Dallas-based developer KDC has delivered a $114 million importation facility in Freeport, a Gulf Coast city located about 60 miles south of Houston, that is an industrial build-to-suit project for Volkswagen Group of America (VWGoA). The 120-acre development represents a consolidation of the German automaker’s port operations in Houston and Midlothian and encompasses several service buildings totaling more than 200,000 square feet, along with asphalt parking for more than 16,000 vehicles, trucks and railcars. In addition, the facility will be able to process up to 140,000 Volkswagen, Audi, Bentley, Lamborghini and Porsche vehicles annually, supporting about a third of VWGoA’s U.S. retail dealers. Stewart Development & Construction served as the general contractor for the project, construction of which began in late 2022.