SAN ANTONIO — Forum Capital Advisors, a Denver-based investment firm, has provided an $18 million equity investment for Tacara at Steubing Heights, a 293-unit multifamily project that will be located near South Texas Medical Center in San Antonio. The four-story complex will feature studio, one- and two-bedroom units and amenities such as a pool, clubhouse, outdoor lounge and a pet park. The name of the lead developer was not disclosed. Construction is expected to begin before the end of the year and to be complete in 2025.
SOUTHLAKE, TEXAS — JLL has brokered the sale of Methodist Southlake Medical Office Building, an 82,238-square-foot healthcare property located on the outskirts of Fort Worth. The building is attached to a hospital operated by the same provider. Brian Bacharach and Vasili Davos of JLL represented the seller, a partnership managed by LandPlan Development, in the transaction. The duo also procured the buyer, a partnership between Virtus Real Estate Capital and Lincoln Property Co.
LAREDO, TEXAS — Stos. Partners, an investment firm based in Southern California, has sold a 79,883-square-foot industrial property in the Rio Grande Valley city of Laredo. The sales price was $9.1 million. Built in 2021 and renovated earlier this year, the property features 21 loading bays, 22-foot clear heights and 53 parking spaces. Anthony DeLorenzo, Bryan Johnson, Nick Williams and Elizabeth Bachhuber of CBRE represented Stos. Partners in the deal. Monica Rubio of Century 21 Olympian Commercial represented the unnamed buyer. The facility was fully leased at the time of sale to logistics firm Grupo Cargoquin.
HOUSTON — Waste Management National Services has signed a 26,844-square-foot industrial lease in North Houston. According to LoopNet Inc. the single-tenant property at 3010 Greens Road was built in 1992 and features 32-foot clear heights, nine dock doors and 34 parking spaces. Chris Caudill of Partners Real Estate represented the tenant in the lease negotiations. Brad Berry, Ryan Wasaff and Cole Bercher of Welcome Realty Services represented the landlord.
BAYTOWN, TEXAS — Locally based developer Avera Cos. has broken ground on Kilgore Grand Parkway, a 484,424-square-foot industrial facility in the eastern Houston suburb of Baytown. The cross-dock facility will be situated on a 33.9-acre site and will feature 40-foot clear heights, 185-foot truck court depths, 107 dock-high doors, an ESFR sprinkler system and ample car and trailer parking space. Avera is developing the project in partnership with AEW Capital Management. Delivery is slated for the second quarter of next year. Cushman & Wakefield is marketing the property for lease.
FORT WORTH, TEXAS — Hillwood Multifamily has begun leasing Paloma Village, a 301-unit apartment community located within the 900-acre Alliance Town Center mixed-use development in North Fort Worth. Designed by JHP Architecture and financed by Frost Bank, Paloma Village consists of 13 buildings that house studio, one-, two- and three-bedroom units. Residences range in size from 556 to 1,972 square feet and offer private balconies/patios. Amenities include a pool, fitness center and a pet park. Rents start at $1,290 per month for a studio apartment.
SAN MARCOS, TEXAS — Marcus & Millichap Capital Corp. has arranged $12.5 million in joint venture equity financing for a residential project in San Marcos, located roughly midway between Austin and San Antonio. The development will consist of 210 for-rent, freestanding “micro homes” of modular construction. Homes will come in one- and two-bedroom formats and range in size from 400 to 1,100 square feet. Construction is expected to last about 21 months. Duke Dennis of Marcus & Millichap Capital Corp. arranged the equity financing and partnership on behalf of the lead developer, Casata.
HOUSTON — Law firm Thompson, Coe, Cousins & Irons LLP has signed a 61,875-square-foot office lease at 5POP, a 28-story, 566,773-square-foot building in Houston’s Uptown neighborhood. The building was constructed in 1982 and is currently undergoing a $12 million capital improvement program. Transwestern represented the landlord, a partnership between national investment firm CP Group and Miami-based Rialto Capital that acquired the asset in 2021, in the lease negotiations. Kevin Saxe, Kevin Kushner and Harlan Davis of CBRE represented the tenant, which will occupy three full floors.
DALLAS — Investment sales brokerage firm Blueprint Healthcare Real Estate Advisors has negotiated the sale of an unnamed seniors housing community in Dallas. Built in 1996 and renovated in 2020, the facility offers assisted living and memory care services. The undisclosed buyer plans to convert the property into a behavioral health facility. The seller was also not disclosed.
DALLAS — Swiss developer Empira Group has acquired a 1.1-acre site at 711 N. Pearl St. near the Dallas Arts District for the development of a 375-unit multifamily project. Designed by GFF Architects, the building will rise 37 stories and house a 3,700-square-foot restaurant space with patio seating, as well as 2,500 square feet of outdoor seating space overlooking Celebration of Life Park. Residential amenities will include a pool, fitness center, coworking spaces and a pet park. A construction timeline has not yet been established.