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Cottages-at-San-Marcos
AcquisitionsMultifamilyStudent HousingTexas

CBRE Arranges Sale of 899-Bed Student Housing Community Near Texas State University

by Taylor Williams

SAN MARCOS, TEXAS — CBRE has arranged the sale of Cottages at San Marcos, an 899-bed student housing community located near the Texas State University campus in San Marcos. Built in 2014, the community offers 194 cottage- and townhome-style units in three-, four-, five- and six-bedroom configurations. Amenities include a 12,000-square-foot clubhouse; three-tiered pool; private shuttle service to campus; a two-story gym with a locker room and Pilates and Zumba rooms; study rooms; a game room; pet washing station; walking trail; and basketball courts. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the seller, an undisclosed Singapore-based global real estate company. The buyer and sales price were also not disclosed.

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IndustrialLoansTexas

Red Oak Capital Provides $9.7M Loan for Refinancing of Industrial Facility in Wichita Falls, Texas

by Taylor Williams

WICHITA FALLS, TEXAS — Red Oak Capital Holdings has provided a $9.7 million bridge loan for the refinancing of the Panda Biotech High Plains Hemp Gin facility in Wichita Falls, about 115 miles northwest of Fort Worth. Built in 1978 and renovated to the tune of $34 million over the years, the facility comprises seven buildings totaling 472,903 square feet on a 97-acre site. Grant Garlock and Miles Kallial of BMC Capital arranged the loan, which carries a two-year term and a fixed 10.5 percent interest rate, through Red Oak. The new financing allows the sponsor, Panda Biotech CEO Robert Carter, to continue operations at what is projected to be the largest industrial hemp processing facility in the world.

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DevelopmentRetailTexas

Walmart to Open 200,000 SF Supercenter Store in Celina, Texas

by Taylor Williams

CELINA, TEXAS — Walmart will open a 200,000-square-foot store in the North Texas city of Celina that will be operated under the Arkansas-based retail giant’s Supercenter brand. The store will be located at the northwest corner of Preston Road and the West Outer Loop and will house a full-service grocery store and pharmacy, as well as electronics, apparel and home goods departments. Walmart is developing the store in partnership with the Celina Economic Development Corp. Construction is underway, and the opening is slated for next spring.

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AcquisitionsMixed-UseTexas

P4 Capital, Elevate Equity Buy 112,678 SF Mixed-Use Property in Dallas Design District

by Taylor Williams

DALLAS — A partnership between P4 Capital and Elevate Equity Partners has purchased a 112,678-square-foot mixed-use property in the Dallas Design District. The property, which comprises three sites totaling 4.4 acres at 1800 Irving Blvd., 1715 Market Center Blvd. and 1805 Market Center Blvd, was originally built to house industrial and office uses. The new ownership plans to redevelop the property into a retail, restaurant and entertainment destination. Jonathan Carrier of JLL represented the seller, a partnership between Quadrant Investment Partners and Maryland-based FCP, in the transaction.

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IndustrialLeasing ActivityTexas

SportzBlitz Signs 27,000 SF Lease at Industrial Flex Building in Lewisville, Texas

by Taylor Williams

LEWISVILLE, TEXAS — SportzBlitz LLC has signed a 27,000-square-foot lease in the North Texas city of Lewisville. The provider of athletic media content is taking space at the industrial flex building located at 1000 Spinks Road, which according to LoopNet Inc. was completed last year. Adam Curran and Harrison Davis of Holt Lunsford Commercial represented the owner, Leila Real Estate LLC, in the lease negotiations. Tomas Wilson of Lee & Associates represented the tenant.

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The Links on PGA Parkway
DevelopmentLoansMultifamilyTexasTop Stories

Carbon Cos., Greenway Receive $125M in Construction Financing for Multifamily Project in Frisco, Texas 

by Channing Hamilton

FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank & Trust CO, b1Bank and Century Bank. Once fully completed in 2027, The Links on PGA Parkway will total 1,310 residential units. The first two phases of the development, which opened in December 2021 and October 2023, delivered 690 apartments and a two-acre city park. Phases III and IV will add an additional 620 apartments, as well as 815 underground parking spots. Last fall, ownership secured a $138.3 million loan from MF1 Capital for the refinancing of Phase I of the development. Phases I and II of the development feature a mix of one, two, and three-bedroom floor plans. Community amenities include two pools with outdoor lounges, two clubhouses, two …

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Wood-Partners-Hutto
DevelopmentMultifamilyTexas

Partnership Breaks Ground on 336-Unit Multifamily Project Near Austin

by Taylor Williams

HUTTO, TEXAS — A partnership between Atlanta-based developer Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit multifamily project in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings. Amenities will include a fitness center, a business lounge, private offices, clubroom with a coffee station, pool and a fenced dog park. Additionally, in collaboration with City of Hutto officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Completion is slated for the third quarter of 2026.

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DevelopmentIndustrialTexas

Pearlmark, Falcon Commercial to Develop 321,193 SF Industrial Project in Saginaw, Texas

by Taylor Williams

SAGINAW, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Dallas-based Falcon Commercial Development will develop a 321,193-square-foot industrial project in Saginaw, a northern suburb of Fort Worth. Saginaw Distribution Center will feature 32-foot clear heights, 130-foot truck court depths, speculative office space and an ESFR sprinkler system. Will Mogk of JLL arranged an undisclosed amount of construction financing for the project through First United Bank. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Chloie Mercer of Newmark structured the equity placement on behalf of the partnership, which has tapped NAI Robert Lynn to lease the property. A tentative completion date was not announced.

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AcquisitionsMultifamilyTexas

Partnership Acquires 226-Unit Apartment Complex in DeSoto, Texas

by Taylor Williams

DESOTO, TEXAS — A partnership between boutique multifamily investment firm RSN Property Group and Monday Properties, which has three East Coast offices, has acquired Ventura Landings, a 226-unit apartment complex located in the southern Dallas suburb of DeSoto. The newly renovated property offers one- and two-bedroom units and amenities such as a pool, clubhouse, basketball court and onsite laundry facilities. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed.

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DevelopmentHospitalityTexas

TEKMAK Development Opens 87-Room, Marriott-Branded Hotel in Forney, Texas

by Taylor Williams

FORNEY, TEXAS — TEKMAK Development, a locally based, full-service hospitality company, has opened an 87-room, Marriott-branded hotel in the eastern Dallas suburb of Forney. Located at 503 E. U.S. Highway 80, TownePlace Suites Forney is a pet-friendly hotel with suites that feature full kitchens and amenities that include a 24-hour fitness center, outdoor pool and complimentary breakfast. Atlanta-based Peachtree Group will operate the hotel on behalf of TEKMAK Development.

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