DALLAS — Partners Capital, the investment arm of Partners Real Estate, has purchased Kessler Park Shopping Center, a 102,020-square-foot retail property located southwest of downtown Dallas. The property comprises two buildings on a 10-acre site that was roughly 98 percent leased at the time of sale to tenants such as Colaw Fitness and United Education Institute. William Harrison of Harrison Property Brokerage represented both Partners Capital and the undisclosed seller in the transaction. Veritex Bank financed the acquisition.
HOUSTON — Transwestern has arranged the sale of a multifamily development site in South Houston. The site at 1500 Old Spanish Trail spans 2.1 acres within the 1500 OST master-planned development. The buyer, Houston-based developer Winther Investments, plans to develop a five-story, 280-unit building on the site. Jeff Peden and Scott Miller of Transwestern represented the seller, an entity doing business as 1500 OST LLC, in the transaction.
BOERNE, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of The Vistas, a 100-unit apartment complex in Boerne, a northeastern suburb of San Antonio. Built in 2001, the pet-friendly property offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. The buyer and seller were not disclosed.
SUGAR LAND, TEXAS — Colliers has brokered the sale of a 15,446-square-foot office building in Sugar Land, a southwestern suburb of Houston. The Offices at Telfair was built on 1.5 acres in 2017 within the master-planned community of the same name and is home to engineering consulting firm Aguirre & Fields. Kolbe Curtice of Colliers represented the undisclosed seller in the transaction.
MAGNOLIA, TEXAS — Locally based firm Tannos Development Group will build a $1 billion mixed-use project in Magnolia, a northwestern suburb of Houston, according to reports from news outlets such as The Houston Chronicle and the Houston Business Journal. According to the former publication, Magnolia Town Center will feature a nationally branded luxury hotel, a 350-unit multifamily complex, single-family residences and 250,000 square feet of retail space, as well as office, healthcare, entertainment uses and open green spaces. Local CBS affiliate KHOU also reports that the site spans 200 acres and that Tannos is developing the project in partnership with Arizona-based Maritia LP.
FORT WORTH, TEXAS — Local developer Bedford Lodging has opened the 153-room Nobleman Fort Worth hotel, which is part of the Tapestry Collection by Hilton family of brands. Located in the city’s Near Southside neighborhood, both the hotel and its onsite restaurant, Duchess, are anchored by the façade of the historic fire station building that was originally constructed on the site in 1911. Accommodations include 121 rooms and 32 suites, and the amenity package comprises a pool, fitness center and meeting/event space.
HOUSTON — Locally based investment firm Triten Real Estate Partners has sold a portfolio of 11 industrial outdoor storage (IOS) facilities totaling 117 acres in Houston. The facilities are located just east of the downtown area and were fully leased at the time of sale to tenants in industries such as transportation, distribution, freight and materials supply. CBRE marketed the portfolio for sale. The buyer and sales price were not disclosed.
ARLINGTON, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Bella Vida, an 84-unit apartment complex in Arlington. Built in 1984, the property offers one- and two-bedroom units as well as a pool and onsite laundry facilities. Private balconies are also available in select residences. The buyer and seller were not disclosed.
HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has acquired Shops at Aliana Trace, a 40,000-square-foot retail center in West Houston. The center, which is adjacent to a Costco, was fully leased at the time of sale to tenants such as Big Blue Swim, Salon by JC and Wayback Burgers. CBRE brokered the deal. The seller and sales price were not disclosed.
SAN ANTONIO — Newmark has brokered the sale of The Flats at Big Tex, a 336-unit apartment community in downtown San Antonio. The property offers studio, one- and two-bedroom units that range in size from 530 to 1,391 square feet. Amenities include a pool, fitness center, rooftop terrace, Wi-Fi café and walking/biking trails. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. San Antonio-based Kairoi Residential acquired the property. The sales price was not disclosed.