CEDAR PARK, TEXAS — A partnership between Indiana-based Great Lakes Capital, Nebraska Furniture Mart and the City of Cedar Park, located north of Austin, will develop a 300-room hotel and 30,000-square-foot convention center. The Marriott-branded hotel will anchor the CedarView mixed-use development and will offer a pool, full-service restaurant and a breakfast café. Construction is slated to begin in May, with an anticipated opening date of early 2027.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of The Flats at 183, a 228-unit apartment complex in Irving. The 19-building community was constructed in 1968 and has undergone more than $4 million in capital improvements in recent years. According to Apartments.com, the property exclusively offers one-bedroom units, as well as a pool and onsite laundry facilities. Bard Hoover and Nick Fluellen of Marcus & Millichap represented the seller, AptVest, in the transaction. The buyer and sales price were not disclosed.
TYLER, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 26,848-square-foot retail building in Tyler, located about 100 miles east of Dallas, that houses a showroom and dealership for tractor manufacturer John Deere. The building sits on a 9.2-acre site at 4630 State Highway 155. Bryan Meyer and Adam Gottschalk of STRIVE represented the Texas-based seller in the transaction and procured the Tennessee-based buyer. Both parties requested anonymity.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 20,538-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 2853 Dickerson Parkway was constructed in 1995 and totals 41,354 square feet. Johnny Anderson of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant is American Leak Detection.
HOUSTON — Los Angeles-based CIM Group has provided a $57.5 million loan for the refinancing of a portfolio of four industrial buildings totaling approximately 533,000 square feet in northwest Houston. The borrower was a partnership between Phoenix-based Creation Equity and PGIM Real Estate. Completed in 2024, the portfolio comprises Houston Point 290, a three-building complex, and Cypress Creek Distribution Center, a single-building development. Three of the buildings have rear-load configurations, and other features include 32-foot clear heights, drive-in doors and a total parking allocation of 593 spaces.
HOUSTON — Marcus & Millichap has brokered the sale of a vacant 243-room hotel located at 9090 Southwest Freeway in southwest Houston. The property, which has been closed since 2019, was previously operated under one of the IHG Hotels & Resorts brands and offers amenities such as an indoor pool, outdoor sundeck, fitness center, business center, gift shop and a guest laundry room. Chris Gomes and Tulsee Nathu of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed.
PLANO, TEXAS — Lockton has signed a 52,961-square-foot office lease at Granite Park in Plano. The insurance brokerage giant is taking two full floors at the newly constructed Granite Park 6, a 19-story, 422,109-square-foot building, with occupancy slated for 2026. Mike Mayer and Josh Goldsmith of Cushman & Wakefield, along with Dan Harris and Randy Cooper of Stream Realty Partners, represented Lockton in the lease negotiations. Robert Jimenez, Burson Holman and Elizabeth Fortado of Granite Properties internally represented the landlord, which owns the asset in partnership with Highwoods Properties.
LAREDO, TEXAS — Lee & Associates has negotiated multiple new leases at Emami Plaza, a 34,000-square-foot shopping center located in the Rio Grande Valley city of Laredo. Among the new tenants at the center are D1 Training (4,600 square feet), SaladWorks (2,000 square feet), Farmers Insurance (1,500 square feet) and Tribalance Chiropractic (1,500 square feet). The deals bring the newly constructed center to full occupancy. Enrique Volkmer of Lee & Associates negotiated the leases on behalf of the undisclosed landlord.
DENTON, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 22,300-square-foot industrial building in the North Texas city of Denton. According to LoopNet Inc., the single-story building at 9062 Teasley Lane was constructed on a 1.1-acre site in 1998. Hudson Springer and Jason Vitorino of STRIVE represented the seller in the transaction. Both parties were Texas-based entities that requested anonymity, as did the buyer’s representative.
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Franklin BSP Realty Trust Agrees to Acquire Multifamily Mortgage Originator NewPoint Holdings
NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. (NYSE: FBRT), a REIT based in New York City, has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator headquartered in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not released. Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties nationwide. The company operates as both a direct lender and third-party placement provider. NewPoint, through its wholly owned subsidiary NewPoint Real Estate Capital LLC, is one of 19 multifamily originators and servicers approved to make loans on behalf of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD). The acquisition will now allow Franklin BSP Realty Trust to originate agency mortgage loans. “For years we have been looking to add agency capabilities to the platform,” says Michael Comparato, president of Franklin BSP Realty Trust. “We believe this transaction is the final piece to complete our ‘one stop shop’ puzzle.” The acquisition will …