HOUSTON — Hicks Davis Wynn has renewed and expanded its office lease in West Houston. The law firm has renewed its 8,509-square-foot lease at 3555 Timmons Lane, a 230,440-square-foot building located within the Greenway Plaza development, and also taken an additional 4,863 square feet of space, bringing its total footprint to 13,372 square feet. Katy Gragg, John Heard and Eric Anderson of Transwestern represented the landlord, Dallas-based Novel Office, in the lease negotiations. Partners Real Estate represented the tenant.
PLANO, TEXAS — A partnership between Indianapolis-based Kite Realty Group (NYSE: KRG) and Singapore’s GIC has acquired Legacy West, a mixed-use development located in Plano, for $785 million. According to Kite Realty’s first-quarter earnings report that announced the transaction, Legacy West includes 344,000 square feet of retail space, 444,000 square feet of office space and 782 multifamily units. Invesco Real Estate has been the lead equity partner in Legacy West since the project’s inception in 2014, becoming the majority owner of the development in 2019. Prism Places and Mark Masinter of Open Realty Advisors handled leasing negotiations and the curation of office tenants, retailers and restauranters at Legacy West, which is now more than 95 percent leased. Tenants at the development include Louis Vuitton, Tiffany, Gucci, Tory Burch, Watches of Switzerland, Aritzia, lululemon, Chanel Beauty, Ralph Lauren and Vuori. “We’re proud to have played a role in shaping this dynamic development — one that integrates thoughtful placemaking and a carefully curated tenant mix, designed to serve the community for years to come,” says Mark Masinter, chairman of Global Retail for Newmark. Legacy West also features more than 20 various eateries, including the development’s food hall, Legacy Hall, and newer additions …
DALLAS — Dallas-based financial intermediary BMC Capital has arranged $67.6 million in financing for a multifamily property located in the greater Austin area. The name and address of the garden-style property, which totals 300 units and was built in 2024, were not disclosed. The financing consists of a $53.5 million senior bridge loan and a $14.1 million preferred equity investment. Noah Laredo led the BMC Capital team on the placement of the financing, the debt component of which was structured with a three-year term and a 97 percent loan-to-cost ratio. The names of the direct lender, a Florida-based life insurance company, and borrower, a Texas-based developer, were also not disclosed.
AUSTIN, TEXAS — General contractor Austin Commercial has broken ground on Mulva Hall, which will be the new home of the McCombs School of Business at the University of Texas at Austin. Designed by Perkins&Will, the 400,000-square-foot building will be situated next to the Robert B. Rowling Hall graduate business building and the AT&T Hotel and Conference Center. Mulva Hall will bring undergraduate classrooms, academic department suites, faculty offices, research centers, convening spaces and the dean’s office under a single roof. Completion is slated for 2028.
SAN ANTONIO — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the 106-room Hilton San Antonio North Stone Oak hotel on the city’s north side. Rooms feature kitchenettes, and amenities include a fitness center and outdoor pool. A San Diego-based investor purchased the property from an institutional investment firm, with both parties requesting anonymity. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the sale. The firm’s Adeel Amin arranged acquisition financing for the deal.
CARROLLTON, TEXAS — Locally based brokerage firm Bradford Commercial Real Estate Services has secured a 10,202-square-foot lease at 2155 Chenault Drive, and industrial flex property in the northern Dallas metro of Carrollton. The tenant, software company SIMStation, is relocating its U.S. headquarters from Miami to the 74,402-square-foot Avion Business Center. Jason Finch and Justin Greenwood of Bradford represented the landlord in the lease negotiations. Jessica Reinhardt of Lee & Associates represented the tenant.
HOUSTON — Goode Company Restaurants has signed a 9,304-square-foot office headquarters lease in West Houston. The operator of local barbeque and Mexican takeout and delivery concepts is taking space at 3555 Timmons Lane, a 230,440-square-foot building located within the Greenway Plaza development. Katy Gragg, John Heard and Eric Anderson of Transwestern represented the landlord, Dallas-based Novel Office, in the lease negotiations. Pollan Hausman Real Estate represented the tenant.
DENTON, TEXAS — Colliers Mortgage has provided a $55.9 million HUD-insured loan for the construction of Millennium Crest, a 245-unit multifamily project that will be located in the North Texas city of Denton. The property will offer 20 studios, 155 one-bedroom units and 70 two-bedroom units. Amenities will include a clubhouse, fitness center, pool, rooftop lounge and a dog park. Kevin Gould of Colliers Mortgage originated the debt, which carries a 40-year term and amortization schedule, on behalf of the developer, an entity doing business as Millennium Crest LP.
HUTTO, TEXAS — Locally based firm Urban Moment Development has completed YardHomes Cottonwood Creek, a 293-unit build-to-rent residential project in the northern Austin suburb of Hutto. The development offers one-, two- and three-bedroom units that range in size from 635 to 1,391 square feet and have private fenced backyards. Units feature stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Amenities include an event lawn, pickleball court, fitness center and a dog park. Rents start at roughly $1,500 per month for a one-bedroom home.
NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of FreeUp Storage, a 145-unit self-storage facility located outside of Fort Worth in North Richland Hills. The facility spans 21,910 net rentable square feet across four climate-controlled units, 101 non-climate units, 34 indoor units and six commercial warehouse units. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, Spartan Investment Group, in the transaction. The duo also procured the buyer, locally based storage investment group Hinze Capital.