REBusinessOnline

NAI Robert Lynn Negotiates 26,418 SF Office Sublease for Veritex Community Bank in Dallas

DALLAS — NAI Robert Lynn has negotiated a 26,418-square-foot office sublease for Texas-based Veritex Community Bank at 12750 Merit Drive, a newly renovated building in North Dallas. Veritex Bank is expanding its footprint in Dallas, and the new space will accommodate about 150 of the company’s 700 total employees. Amenities at the property include a conference center, fitness center, tenant lounges and a deli. Kent Smith of NAI Robert Lynn and Dan Boyles of NAI Partners’ Houston office …

KeyBank Provides $20M in Freddie Mac Financing for Austin Affordable Housing Project

AUSTIN, TEXAS — KeyBank Real Estate Capital has provided $20 million in Freddie Mac financing for Heritage Estates at Owen Tech, a 174-unit affordable housing project coming to Austin. The property will be situated on five acres and will consist of 102 one-bedroom units and 72 two-bedroom units ranging in size from 614 to 1,131 square feet. The majority (85 percent) of the units will be reserved for renters earning 60 percent or less of the area median income, and about 10 percent of the …

Todd Interests Nears Completion of 219-Room Hotel Redevelopment Project in Downtown Dallas

DALLAS — Developer Todd Interests is nearing completion of the redevelopment of the former First National Bank Tower in downtown Dallas, a project that will add 219 hotel rooms under Hyatt’s Thompson brand to the local supply. The new hotel will feature two rooftop restaurant and bar concepts, a pool, fitness center, spa and pet parks, as well as 22,000 square feet of meeting and event space. The hotel is slated to open in

Tricon Precast Signs 98,259 SF Industrial Lease in Dallas

DALLAS — Tricon Precast, a provider of concrete products, has signed a 98,259-square-foot industrial lease at 5200 E. Grand Ave., a few miles east of downtown Dallas. According to LoopNet Inc., the property features 19-foot clear heights and 200 parking spaces. Josh Barnes and Canon Shoults of Holt Lunsford Commercial represented the landlord, HLC Investments, in the lease negotiations. Matthew Perry-Miller of Laughlin Commercial Realty Group represented the

Cambridge Provides $3.9M HUD Refinancing Loan for Skilled Nursing Facility in Longview, Texas

LONGVIEW, TEXAS — Cambridge Realty Capital has provided a $3.9 million HUD loan for the refinancing of Summer Meadows, a 115-bed skilled nursing facility in Longview, about 100 miles east of Dallas. Hymie Barber of Cambridge originated the loan through HUD’s 223(a)(7) program for the borrower, a New York-based limited liability company. The 223(a)(7) product is used exclusively for the refinancing of existing HUD debt on multifamily and healthcare

NAI Partners Negotiates 11,380 SF Industrial Lease in San Antonio

SAN ANTONIO — NAI Partners has negotiated an 11,380-square-foot industrial lease at Isom Business Center, a 175,000-square-foot development in north central San Antonio. The property consists of three buildings that offer 18-foot clear heights and both grade-level and dock-high loading doors. Carlos Marquez and Colten Courtney of NAI Partners represented the tenant, solar products distributor Solwel, in the lease

Austin: The Right Place at the Right Time for Multifamily Sector

“After COVID-19, nothing ever will be the same,” has become a common refrain these days. Perhaps for the next decade or so, every important life choice will be made with public health and safety concerns in mind — and the most commonly chosen solutions will be meaningfully different than before. Among the most fundamental life choices subject to this new scrutiny will be where to live, how to make a living and how to safely move about. Many Americans will opt for less densely populated …

Ziegler Arranges $110.9M Financing for Seniors Housing Expansion Project in Austin

AUSTIN, TEXAS — Ziegler has arranged $110.9 million in financing for Westminster, a nonprofit continuing care retirement community (CCRC) in West Central Austin. Senior living owner-operator LCS has managed the 9.3-acre property since 1981. The community currently comprises 327 independent living units, 22 assisted living units, 30 memory care units and 55 skilled nursing beds. The expansion project will add a five-story building with 43 independent living apartments, 38 memory care units, 36 …

Stream Realty Breaks Ground on 1 MSF Empire West Business Park in Metro Houston

BROOKSHIRE, TEXAS — Stream Realty Partners has broken ground on Empire West Business Park, a speculative industrial project that is situated on 300 acres in the western Houston suburb of Brookshire. Designed by Houston-based Powers Brown Architecture, the property fronts Interstate 10 and U.S. Highway 90. The initial phase of the project will consist of roughly 1 million square feet of space across three buildings while the second phase will focus more on build-to-suit opportunities and …

Marcus & Millichap Arranges Sale of 233-Unit Self-Storage Facility in Waco

WACO, TEXAS — Marcus & Millichap has arranged the sale of Simple Self Storage, a 233-unit facility located at 2172 E. Loop 340 in Waco. The property was built in phases between 2017 and 2018 and features 24,740 net rentable square feet of non-climate-controlled space. Units range in size from 25 to 200 rentable square feet, and the site includes roughly two acres for future expansion. Brandon Karr, Danny Cunningham and Bryan Quaschnick of Marcus & Millichap represented the seller and …

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