Texas

IPA Arranges $37M Loan for Refinancing of Dane Park Apartments in Grapevine, Texas

by Taylor Williams March 6, 2024

GRAPEVINE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $37 million loan for the refinancing of Dane Park, a 392-unit apartment community in Grapevine. The property is located in the northern-central part of the metroplex and features one- and two-bedroom units. Amenities include a pool, fitness center, game room, sports court, resident clubhouse and outdoor grilling and dining stations. Dane Park also offers pet daycare, grooming and concierge services. Brian Eisendrath and Cameron Chalfant of IPA arranged the debt. The borrower and direct lender were not disclosed.

March 6, 2024

Affordable Housing Development Multifamily Texas

Temenos, NHP Foundation Open 95-Unit Supportive Housing Complex in Houston

by Taylor Williams March 6, 2024

HOUSTON — Temenos Community Development Corp. and The NHP Foundation have opened a 95-unit supportive housing complex in Houston. The property includes an entire floor dedicated to at-risk youth, and 80 units replace those lost to The Texas Department of Transportation to make way for highway improvements. The City of Houston Housing & Community Development provided $12.5 million for the project, and The Harris County Community Services Department provided $11 million. The Houston Housing Finance Corp. and the Texas Department of Housing & Community Affairs also contributed to the capital stack.

March 6, 2024

Civic Development Texas

Austin Commercial Breaks Ground on 83,000 SF Academic Building at Rice University in Houston

by Taylor Williams March 6, 2024

HOUSTON — General contractor Austin Commercial has broken ground on Sarofim Hall, an 83,000-square-foot academic building that will be located on Rice University’s campus in Houston. Designed by Diller Scofidio + Renfro, the building will be situated adjacent to the Moody Center for the Arts and will feature a cinema, flexible performance lab, adaptable classrooms and workshops. Sarofim Hall is expected to open in time for the fall 2025 semester.

March 6, 2024

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 10-Acre Industrial Development Site in South Dallas

by Taylor Williams March 6, 2024

DALLAS — Lee & Associates has brokered the sale of a 10-acre industrial development site comprising two parcels at 4225 and 4551 Cedardale Drive in South Dallas. Alex Wilson and Jarrett Huge of Lee & Associates represented the buyer, LDSR Real Property, which plans to construct an industrial service facility on the site. The name and representative of the seller were not disclosed.

March 6, 2024

Industrial Leasing Activity Texas

Ervin Cable Construction Signs 11,400 SF Industrial Lease in San Antonio

by Taylor Williams March 6, 2024

SAN ANTONIO — Ervin Cable Construction has signed an 11,400-square-foot industrial lease in San Antonio. According to LoopNet Inc., the single-tenant property at 1026 Brussels St. was built in 2004 and includes 2,000 square feet of showroom space and 1,400 square feet of office space. Carlos Marquez and Brian Heines of Partners Real Estate represented the landlord in the lease negotiations. Kent Jones represented the tenant.

March 6, 2024

Loans Multifamily Texas

Colliers Mortgage Provides $49M Agency Loan for Refinancing of North Austin Apartment Community

by Taylor Williams March 5, 2024

AUSTIN, TEXAS — Colliers Mortgage has provided a $49 million Fannie Mae loan for the refinancing of Ascent North, a 460-unit apartment community in North Austin. The newly renovated property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, business center, media lounge, outdoor grilling and dining stations, resident clubhouse and a dog park. Fritz Waldvogel of Colliers Mortgage originated the 60-month loan on behalf of the borrower, Dallas-based SPI Advisory.

March 5, 2024

Development Industrial Texas

Titan Development Breaks Ground on 196,519 SF Industrial Project in Schertz, Texas

by Taylor Williams March 5, 2024

SCHERTZ, TEXAS — Regional firm Titan Development has broken ground on Building 1 of Schertz35 Business Park, an industrial project that will add 196,519 square feet of space to the northeastern San Antonio suburb’s supply. The site spans 11 acres, and the building will feature 32-foot clear heights, two drive-in ramps, 43 docks, an ESFR sprinkler system and parking for 136 cars and 50 trailers. Construction is slated for a fourth-quarter completion.

March 5, 2024

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 195-Unit Multifamily Portfolio in Bedford, Texas

by Taylor Williams March 5, 2024

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of two multifamily properties totaling 195 units in Bedford, located northeast of Fort Worth. Avanti on Central and Avanti on Pipeline total 137 units and 58 units, respectively, and offer one-, two- and three-bedroom floor plans. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a local private investor, in the transaction and procured the buyer, a Dallas-based partnership. Both parties requested anonymity.

March 5, 2024

Leasing Activity Retail Texas

Three New Tenants Open Stores, Showrooms at Post Oak Plaza in Uptown Houston

by Taylor Williams March 5, 2024

HOUSTON — Three new tenants have opened stores at Post Oak Plaza, a retail power center in Houston’s Uptown area. The 22,201-square-foot store of home furnishings retailer Arhaus is now open, as is the 9,597-square-foot store of Bassett Furniture and the 4,036-square-foot kitchen and bath showroom of Kohler. Locally based developer Levcor owns Post Oak Plaza, which recently underwent a capital improvement program and is now 98 percent leased.

March 5, 2024

Leasing Activity Retail Texas

BT Dealz Signs 15,477 SF Retail Lease in Lewisville, Texas

by Taylor Williams March 5, 2024

LEWISVILLE, TEXAS — BT Dealz, which sells liquidated consumer products directly to customers, has signed a 15,477-square-foot retail lease for its first brick-and-mortar store in the northern Dallas suburb of Lewisville. David Zoller of Weitzman represented the undisclosed landlord in the lease negotiations. Al Paniagua of Swearingen Realty Group represented BT Dealz, which is taking a junior anchor endcap space at a center that is also home to Marshalls, Old Navy, Five Below and PetSmart.

March 5, 2024

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