Texas

Security Properties Acquires 304-Unit Brightleaf at Lakeline Apartments in North Austin

by Taylor Williams January 6, 2023

AUSTIN, TEXAS — Seattle-based investment firm Security Properties has acquired Brightleaf at Lakeline, a 304-unit apartment complex in North Austin. Completed in 2022, Brightleaf at Lakeline consists of three buildings that house one- and two-bedroom units on a 12.3-acre site. Residences average 880 square feet and are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, business lounge, outdoor grilling and dining areas and a pet park. San Antonio-based multifamily owner-operator Embrey sold the property for an undisclosed price.

January 6, 2023

Loans Multifamily Seniors Housing Texas

Greystone Arranges $30M Loan for Refinancing of Seniors Housing Property in Waco

by Taylor Williams January 6, 2023

WACO, TEXAS — Greystone has arranged a $30 million loan for the refinancing of The Delaney at Waco, a 169-unit seniors housing property. The community offers independent living, assisted living and memory care services. Tyler Armstrong of Greystone originated the financing, which was structured with a floating interest rate, seven-year term and a 30-year amortization schedule. The borrower was Iowa-based owner-operator Life Care Services. An undisclosed bank provided the loan.

January 6, 2023

Acquisitions Industrial Self-Storage Texas

Versal Arranges Sale of 129-Unit Self-Storage Facility in Magnolia, Texas

by Taylor Williams January 6, 2023

MAGNOLIA, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Big League Storage, a 129-unit facility located about 45 miles northwest of Houston in Magnolia. The facility spans 22,800 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, a Texas-based entity doing business as Big League Enterprises LLC, in the transaction. The team also procured a North Carolina-based limited liability company as the buyer.

January 6, 2023

Leasing Activity Office Texas

Callon Petroleum Signs 107,171 SF Office Headquarters Lease in Houston’s Memorial City District

by Taylor Williams January 6, 2023

HOUSTON — Callon Petroleum has signed a 107,171-square-foot office headquarters lease in Houston’s Memorial City District. The energy firm will occupy five floors at 9753 Katy Freeway, a 190,000-square-foot building, beginning in the second half of 2024. Brad MacDougall and Warren Alexander represented the landlord, MetroNational, in the lease negotiations on an internal basis. Joseph Peddie and Morgan Relyea Colt of Cushman & Wakefield represented the tenant.

January 6, 2023

Acquisitions Industrial Texas

Partners Brokers Sale of 36,240 SF Industrial Building in Metro Houston

by Taylor Williams January 6, 2023

NEW CANEY, TEXAS — Partners, the locally based investment and advisory firm formerly known as NAI Partners, has brokered the sale of a 36,240-square-foot industrial building in New Caney, a northeastern suburb of Houston. The facility sits on 9.3 acres at 22216 McCleskey Road. Zane Carman and Clay Pritchett of Partners represented the buyer, Quality Linings & Fabrication Inc., in the transaction. Pamela Morales of Keller Williams Commercial represented the undisclosed seller.

January 6, 2023

Loans Multifamily Seniors Housing Texas

Greystone Provides $40.4M Agency Refinancing of Seniors Housing Property in Metro Houston

by Taylor Williams January 5, 2023

LEAGUE CITY, TEXAS — Greystone has provided a $40.4 million Fannie Mae loan for the refinancing of The Delaney at South Shore, a 204-unit seniors housing property in League City, a southeastern suburb of Houston. Tyler Armstrong of Greystone originated the nonrecourse loan, which carries a fixed interest rate, 10-year term and a 30-year amortization schedule. In addition, the debt was structured with five years of interest-only payments. The borrower was Life Care Services, a seniors housing owner-operator based in Des Moines, Iowa.

January 5, 2023

Acquisitions Hospitality Texas

Hilco Real Estate Arranges $9.9M Sale of Hilton-Branded Hotel in Bryan, Texas

by Taylor Williams January 5, 2023

BRYAN, TEXAS — Hilco Real Estate has arranged the $9.9 million sale of the Tru by Hilton Bryan College Station, a 98-room hotel in Central Texas. The property was built on 2.6 acres in 2018 near the Texas A&M University campus and offers a fitness center, children’s play area, meeting and event space and a lobby bar/lounge. Keith Worsham of Hilco Real Estate represented the seller, Wealth Hospitality, in the transaction. The buyer was not disclosed.

January 5, 2023

Leasing Activity Retail Texas

Floor & Décor Opens 75,000 SF Store in Pearland, Texas

by Taylor Williams January 5, 2023

PEARLAND, TEXAS — Floor & Décor has opened an approximately 75,000-square-foot store at 3350 Business Center Drive in Pearland, a southern suburb of Houston. The store, which opened with a team of 50 full- and part-time employees, is the 12th in the greater Houston area for the Atlanta-based home improvement retailer. Founded in 2000, Floor & Décor operates 178 warehouse-style stores and five design studios across 35 states.

January 5, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 26,126 SF Industrial Lease in Metro Dallas

by Taylor Williams January 5, 2023

GARLAND, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 26,126-square-foot industrial lease in Garland, a northeastern suburb of Dallas. The property at 3760 Miller Park Drive totals 40,958 square feet and features three dock doors and one drive-in ramp. Travis McEldowney and Jack Gaffney of Finial Group represented the landlord, New Jersey-based investment firm Faropoint, in the lease negotiations. Sam Bridges and John Briggs of RHA commercial represented the tenant, BKS Industrial Coating.

January 5, 2023

Industrial Leasing Activity Texas

Belfor USA Signs 14,385 SF Lease Renewal at Industrial Flex Property in Fort Worth

by Taylor Williams January 5, 2023

FORT WORTH, TEXAS — Disaster recovery and property restoration firm Belfor USA Group has signed a 14,385-square-foot lease renewal at RiverPark Business Center, an industrial flex property in Fort Worth. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business LP, in the lease negotiations. Caleb McCoy of JLL represented the tenant.

January 5, 2023

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