Texas

STREETLIGHTS RESIDENTIAL, HUNT COS. BREAK GROUND ON APT. TOWER

by admin February 5, 2013

AUSTIN, TEXAS — Affiliates of StreetLights Residential and Hunt Cos. have formed a joint venture to break ground on a 300-unit, high-rise apartment tower, located at 214 Barton Springs Road in Austin. The project's ownership group consists of Hunt Development Group LLC and Hunt Barton Springs LLC (both affiliates of Hunt Cos.), along with SLR Residential at Barton Springs LLC, an affiliate of StreetLights Residential. Austin-based Rhode Partners designed the 19-story glass and brick tower. The interior of the property has been designed to emulate a boutique hotel with an expansive lobby, resort-style pool deck, fitness center and rooftop lounge. The high-rise will feature views of Lady Bird Lake, the downtown skyline, the State Capitol and the West Hills. The high-rise tower is scheduled to open by August 2014, with pre-leasing expected to begin in the summer of 2014.

February 5, 2013

CENCOR BEGINS DEVELOPMENT OF WEST PLANO VILLAGE

by admin February 5, 2013

PLANO, TEXAS — Cencor Realty Services is under way with the construction of West Plano Village, a mixed-use project located at the northeast corner of the Dallas North Tollway and Parker Road in Plano. The development will include 90,000 square feet of retail and restaurant space, 60,000 square feet of second-floor office space and 245 residential units. A 10,000-square-foot eatZi's Market & Bakery will anchor the retail portion of the development, along with the existing Cinemark West Plano and XD theater. AMLI Residential will develop the multifamily component of West Plano Village in a four-story configuration. Michelle Caplan and Earl Harris of The Weitzman Group are handling the leasing of the retail portion, while Chrystal Morgan of Weitzman is handling office leasing. The apartment community is slated for a summer 2014 opening, while the retail and office space will open in the fall of 2014. David Palmer of Cencor is directing the development of the mixed-use development, and Dallas-based Hodges & Associates is designing the retail and office components.

February 5, 2013

Multifamily Texas

LMI CAPITAL ARRANGES $29.2M IN MULTIFAMILY DEBT

by admin February 5, 2013

HOUSTON AND AUSTIN, TEXAS — Jamie Mullin of LMI Capital has arranged $29.2 million in debt across six multifamily properties for six different borrowers. The loans include: A 10-year, $7.2 million refinance loan for a 380-unit property in the Greenspoint area of Houston A 10-year, $4.8 million acquisition loan for a 258-unit multifamily community in southwest Houston A 10-year, $4.8 million refinance loan for a 240-unit property in southwest Houston A three-year, $3.6 million acquisition loan for a 216-unit distressed community in southwest Houston A 10-year, $6.6 million acquisition loan through Fannie Mae for a 192-unit community in north Austin A 10-year, $2.2 million acquisition loan for a 54-unit property in north Austin

February 5, 2013

Multifamily Texas

ARA BROKERS SALE OF THE BRIDGEMOOR AT KILLEEN APTS.

by admin February 5, 2013

KILLEEN, TEXAS — ARA has secured the sale of The Bridgemoor at Killeen Apartments, a 180-unit, Class A community located at 2710 Cunningham Road in Killeen. The community features a saltwater pool, spa, movie theater, billiards room, poker room, business center, fitness center, yoga studio and garages. The property is 96 percent occupied. Jeff Patterson and Kelly Witherspoon of ARA's Austin office represented the seller, an Oregon-based regional investor, in the transaction. A Chicago-based private investor purchased the property.

February 5, 2013

Mixed-Use Texas

HARWOOD TO DEVELOP MIXED-USE VILLAGE IN DALLAS DESIGN DISTRICT

by admin February 4, 2013

DALLAS — Dallas-based Harwood International, a global real estate developer and investor, plans to break ground on District 1444: The Design Village, a mixed-use village located at the southeast corner of Dragon Street and Oak Lawn Avenue in the Dallas Design District. District 1444 will feature 224 apartment units, a rooftop junior Olympic pool with cabanas, views of the Dallas skyline, a fitness center, fire pits, game room, gardens and more than 46,000 square feet of retail space. An architectural team led by Laura Lleal and Ben Cortez of Harwood Design Factory LLC is designing the property. Harwood has signed three of the five restaurant spaces to lease deals and will break ground on the development in the spring. The Dallas Design District began as a post World War II collection of warehouses and has since transformed into a mixed-use residential district.

February 4, 2013

Multifamily Texas

M&M BROKERS SALE OF THE WINDEMERE IN ARLINGTON

by admin February 4, 2013

ARLINGTON, TEXAS — Marcus & Millichap has secured the sale of the 60-unit Windemere, an apartment complex located at 2003 Wesley Drive in Arlington. Nick Fluellen, Robert Denninger and Bard Hoover of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. Fluellen and Hoover also secured and represented the buyer, a private investor.

February 4, 2013

Multifamily Texas

ALLIANT CAPITAL CLOSES $6.65M MULTIFAMILY REFINANCE

by admin February 4, 2013

AUSTIN, TEXAS — Alliant Capital has closed a $6.65 million refinance loan on the 65-unit Park Terrace Apartments in Austin. Mary Dee Clancy of Alliant's Chevy Chase, Md., office originated the seven-year loan on a 30-year amortization schedule.

February 4, 2013

Retail Texas

FIESTA MART LEASES SPACE AT SUGAR CREEK VILLAGE

by admin February 4, 2013

SUGAR LAND, TEXAS — Fiesta Mart Inc. has leased 40,324 square feet of retail space at the Sugar Creek Village Shopping Center, located at 13833 SW Freeway in Sugar Land. Buster Freedman of United Equities Inc. represented the landlord in the transaction.

February 4, 2013

Retail Texas

MCKINNEY TO BE HOME OF LARGEST TRIATHLON STORE IN U.S.

by admin February 4, 2013

MCKINNEY, TEXAS — Playtri has signed a 10,908-square-foot lease at Times Square at Craig Ranch, a shopping center located at 7951 Collin McKinney Parkway in McKinney. When Playtri opens the store in May, it will be the largest triathlon store in the U.S. The store will feature bikes, apparel, onsite coaches and sports nutritionists, training sessions and various fitness testing at the store's Performance Center. Playtri is an official USA Triathlon Certified Performance Center. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the tenant in the lease transaction. Bry Taylor of Bryson Messer Properties LLC represented the landlord, Mid-America Apartments LP.

February 4, 2013

Market Reports Texas Texas Market Reports

National Retailers Are Entering the Market, Investment Remains High

by admin February 4, 2013

The commercial real estate market for the Rio Grande Valley region, located in south Texas along the U.S.-Mexico border, has remained stable over the last couple of years. During the last half of 2012, there has been a general mood of optimism about 2013. The U.S. economic crisis did play some havoc in the region and many projects lost some momentum. However, the region managed to dodge the bulk of the effects, as some noted projects and acquisitions did come to fruition, including CVS/pharmacy store openings. The company has plans to open 25 stores in this market. H-E-B Grocery opened a new H-E-B Plus concept in Pharr and remodeled and expanded one of its Brownsville stores. The grocery chain is planning another store opening in Palmhust, north of Mission, this year. Other national retailers entering the market include Bass Pro Shop, Sam’s Club, Costco, LongHorn Steakhouse, Party Cityand Cinemark. The City of Pharrsaw the first Costcoin the market while McAllen added its second Sam’s Club. LongHorn Steakhouse is on a fast track and within 24 months will have opened five locations in the region. Additionally, Cinemark will be adding two theaters, including a state-of-the-art movie houseat the El Centro Mall …

February 4, 2013

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