ARLINGTON, TEXAS — Fort Worth-based investment firm Fort Capital has acquired a portfolio of seven industrial buildings totaling 76,200 square feet in Arlington. The Class B, multi-tenant buildings offer proximity to major thoroughfares such as Interstates 20 and 30, as well as Loop 820. The portfolio had an occupancy rate of 94 percent at the time of sale. The seller and sales price were not disclosed.
KILLEEN, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of Williamsburg Apartments, a 64-unit multifamily complex located in the Central Texas city of Killeen. According to Apartments.com, the property was built in 1977 and offers one-bedroom units. Jason Chtay of Partners represented the seller, an entity doing business as AJH Williamsburg Ltd., in the transaction. The name and representative of the buyer were not disclosed.
FORT WORTH, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a portfolio of two facilities totaling 531 units in Fort Worth. The portfolio spans 89,300 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, an entity doing business as Plano Storage Station LP, in the transaction. The team also procured the buyer, an Austin-based family partnership.
HOUSTON — A partnership between Southern California-based investment firm Bascom Group and New York-based investment manager Cadre has acquired The Montierra, a 346-unit apartment community in Houston’s Uptown/Galleria area. Sueba USA developed the property in 2003. According to Apartments.com, units come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, clubhouse, lounge, movie theater, business center and outdoor grilling stations. Dustin Selzer of JLL represented the seller in the transaction. Brandon Smith, Annie Rice and Jamie Kline, also with JLL, arranged acquisition financing through California Bank & Trust. The new ownership plans to implement a value-add program.
HOUSTON — Chicago-based Brennan Investment Group has acquired 12 acres at the intersection of Kirby Drive and North Spectrum Boulevard in South Houston for the development of a 216,004-square-foot industrial facility. The rear-load building will feature 36-foot clear heights, 175-foot truck court depths and an ESFR sprinkler system. Construction is scheduled to begin in early January and to be complete by the fourth quarter of 2023.
DALLAS — Locally based investment firm Westmount Realty Capital has purchased Premier at Prestonwood, a 208-unit multifamily property in North Dallas. Built in 1995, the property offers one- and two-bedroom units with an average size of 1,027 square feet, as well as a pool, fitness center and a clubhouse. Westmount plans to upgrade the building exteriors and the interiors of select units while also enhancing the amenity package with the addition of a dog park and package lockers. The seller was not disclosed.
DALLAS — Law firm McGuireWoods has signed a 33,345-square-foot office lease at The Link at Uptown in Dallas. The firm will occupy the entire 22nd floor and part of the 21st floor of the 25-story building, which is now 96 percent leased. Blake Shipley of JLL, in conjunction with Sarah Kennington and Bryce Jackson of Thirty-Four Commercial, represented the landlord, Kaizen Development Partners, in the lease negotiations. Stephen Hemphill, Cory Darden and Steve Macnoll of Mohr Partners represented McGuireWoods.
DALLAS — Cushman & Wakefield has arranged the sale of a portfolio of seven industrial buildings totaling approximately 759,889 square feet in Dallas-Fort Worth. The properties are scattered throughout the metroplex in municipalities including Richardson, Lewisville, Irving, Farmers Branch, Coppell and Arlington. Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. New Jersey-based investment firm Faropoint acquired the portfolio, which was fully leased at the time of sale, for an undisclosed price.
DALLAS — Granite Properties, in partnership with publicly traded REIT Highwoods Properties (NYSE: HIW), has acquired McKinney & Olive, a 507,000-square-foot office building in Uptown Dallas. Designed by architect Cesar Pelli and completed in 2016, the building includes 50,000 square feet of retail space and was 99 percent leased at the time of sale. Other amenities include a fitness center, rooftop terrace, lounge and a conference center. Andrew Levy and Todd Savage of JLL represented the seller and developer, institutional investors advised by J.P. Morgan Asset Management, in the transaction.
SAN ANTONIO — Winston Hotels, a North Carolina-based owner-operator, has completed an adaptive reuse project in San Antonio’s RiverWalk area. The project converted a former office building at 111 Soledad St. into a dual-branded hotel with 343 rooms across the Element by Westin (162 rooms) and AC by Marriott (181 rooms) brands. Guests at both hotels will have access to a fitness center, business center, 4,000 square feet of meeting and event space and a rooftop bar and lounge.