HOUSTON — Fairstead, an affordable housing owner-operator based in New York City, has announced the $242 million acquisition and rehabilitation of Haverstock Hills, a 700-unit affordable housing property in Houston’s East Aldine neighborhood. Haverstock Hills comprises 44 two- and three-story buildings on a 22-acre site. Residences include a mix of studio, one-, two- and three-bedroom units, all of which are reserved for households earning 60 percent or less of the area median income. Fairstead plans to upgrade unit interiors, building exteriors and common areas, as well as enhance the amenities via an updated clubhouse, outdoor playground, laundry facilities and a business center. Fairstead will also invest in new safety and security measures across the property. Rainbow Housing Corp. will continue to provide onsite social services for residences of Haverstock Hills.
LEWISVILLE, TEXAS — A partnership between local developer Trammell Crow Co. and PGIM Real Estate has broken ground on Lake Vista Technology Park, a 316,333-square-foot industrial project that will be located in the northern Dallas suburb of Lewisville. The 20-acre site is located at the southwest corner of I-35 and State Highway 121, and the development will consist of three buildings that will range in size from 66,820 to 126,693 square feet. All three buildings will feature rear-load configurations and 32-foot clear heights. Alliance Architects is designing the project, and Peinado Construction is the general contractor. Halff is the civil engineer, and CBRE is the leasing agent. Comerica Bank is funding construction, which is expected to be complete in late 2026.
DALLAS — Locally based firm Anthem Development has begun construction on Premier at Dallas Midtown, a 296-unit multifamily project that will be located on the site of the former Valley View Mall on the city’s north side. The development will feature studio, one- and two -bedroom floor plans that will range in size from 500 to 1,400 square feet. Amenities will include a pool, fitness center, sky lounge, game room, dog run and a business center with private workstations and a conference room, as well as 13,500 square feet of retail space. Cross Architects designed the project. NexBank is financing construction, which is expected to be complete in 2027.
COLLEGE STATION, TEXAS — College Station-based Layne’s Chicken Fingers has signed a franchise agreement to open 44 new units across Texas. Developer Eli Cohen will operate the restaurants. As part of the agreement, Cohen’s team plans to open multiple new Layne’s locations in Lubbock, with two sites already confirmed. In addition to the deal with Cohen, Layne’s has also executed a 12-unit deal with a Wendy’s operator in the Rio Grande Valley; an eight-unit deal with a former water bottling entrepreneur in West Central Texas; and a four-unit agreement with a hospitality professional in South Fort Worth. Layne’s has also recently opened new restaurants in Mission Bend, Tyler and Nacogdoches, with five additional locations expected to open across Texas before the end of the year.
NEW BRAUNFELS, TEXAS — Wan Bridge, a Texas-based developer of build-to-rent residential communities, is underway on construction of West End Estates, a 218-unit project located northeast of San Antonio in New Braunfels. West End Estates will feature 1,200- to 1,800-square-foot townhomes and amenities such as a clubhouse, pool, sports courts and a playground. Roughly 15 percent of the residences are now complete, and a grand opening event is planned for early next year.
ELMSFORD AND NEW YORK CITY, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte suburb of Concord, N.C.; International Speedway Square in Daytona Beach, Fla.; Peoria Square in Glendale, Ariz.; and Belle Isle Station in Oklahoma City, Okla. The portfolio was 91.3 percent leased at the time of sale. Long-term tenants across the portfolio include Nordstrom Rack, REI, T.J. Maxx, Ross Dress for Less, Dick’s Sporting Goods, HomeGoods, Marshalls, Total Wine & More and Ulta Beauty. This portfolio marks DLC’s first retail acquisitions in Phoenix and Oklahoma and expands the company’s existing presence in Texas and Florida. In October, DLC and DRA Advisors purchased a $625 million retail portfolio on the West Coast. The two organizations have now completed more than $1.7 billion of …
FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Lone Star Commerce Center, a three-building, 380,020-square-foot industrial facility in northwest Fort Worth. Completed in 2021, the shallow-bay, multi-tenant property features 32-foot clear heights, 135- to 185-foot truck courts depths and LED lighting. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry of Cushman & Wakefield represented the seller, a fund backed by Brookfield Asset Management, in the transaction. The buyer was Transwestern Investment Group. Lone Star Commerce Center was fully leased at the time of sale.
HOUSTON — SLS Properties has purchased TwentyFour25, a 284,889-square-foot vacant office building in Houston’s Galleria district. The 11-story building offers roughly 150,000 rentable square feet across floors two through seven and about 77,000 rentable square feet across floors nine through 11, plus additional space on the first floor. Amenities include a fitness center, conference facilities, tenant lounge and a newly upgraded lobby and other common areas. SLS Properties has also completed numerous upgrades to the building’s systems and plans additional enhancements to the walkway connecting the building to its parking garage. Ownership has tapped Transwestern as the new leasing agent.
DALLAS — Unbridled Living has acquired The Reserve at North Dallas, a 273-unit seniors housing community in Dallas. Built in 2000, the property features 247 independent living apartments and 26 assisted living units. Amenities include a bistro, game room, wellness center, hair salon, library, media room, resident lounge and a putting green. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Jim Dooley and Dan Baker of JLL represented the undisclosed seller in the transaction. Allison Holland, also with JLL, arranged acquisition financing through Arrowmark Partners on behalf of Unbridled Living. The loan carries a three-year term with two 12-month extension options.
DENTON, TEXAS — Helios Healthcare Advisors has brokered the sale of a restored assisted living facility in Denton. Fairhaven Denton Assisted Living was originally developed in the mid-1950s and closed in 2007. In 2019, Austin-based developer Investcor acquired Fairhaven and executed an $8 million renovation of the property, which is now featured on the National Register of Historic Places. Fairhaven reopened in fall 2020 and is now operated by Enriched Senior Living. Helios represented Investcor in the transaction. The buyer was a California-based owner-operator. Fairhaven Denton more than 95 percent occupied at the time of sale.