DALLAS — Galderma, a Swiss dermatology company known as the maker of Cetaphil, will relocate its U.S. headquarters to Trammell Crow Center, located at 2001 Ross Ave. in The Dallas Arts District. The lease spans 50,000 square feet across the 16th and 17th floors. About 400 people will work out of the new headquarters space. Galderma plans take occupancy next summer. Trammell Crow Center offers a 9,000-square-foot athletic club, 1.4 acres of outdoor space, a 9,000-square-foot conference center and a convenient market, as well as 200 boutique hotel rooms.
HOUSTON — New York City-based Emerald Creek Capital has provided a $13.2 million bridge loan for the acquisition for a 107,923-square-foot office building in Houston’s Westchase neighborhood. The Home Depot occupies the four-story property, which sits on a 5.7-acre site about 15 miles west of downtown Houston. Matt Fantuzzi of Emerald Creek originated the loan. The borrower was not disclosed.
DALLAS — Vancouver, British Columbia-based City Office REIT has purchased The Terraces, a 173,000-square-foot building located in the Preston Center submarket of Dallas, for $133.5 million. The property was built in 2017 and features amenities such as a fitness center, rooftop deck, full-service deli and a conference facility. At the time of sale, The Terraces was 99 percent leased to a roster of tenants with a weighted average remaining lease term of eight years. The seller was not disclosed.
FARMERS BRANCH, TEXAS — Pittsburgh-based investment firm HLC Equity has acquired Elan City Centre, a 330-unit apartment community located in the northern Dallas suburb of Farmers Branch. Built in 2013, the property features one- and two-bedroom units with an average size of 771 square feet. Amenities include a pool, 24-hour fitness center, business center, entertainment lounge, dog park and outdoor grilling stations. Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware, Taylor Hill and Asher Hall of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, MIG Real Estate, in the transaction. The team also procured HLC Equity, which will rebrand the property as Layers Galleria, as the buyer.
AUSTIN, TEXAS — Newmark has brokered the sale of Walnut Park, a 277-unit apartment community in Austin’s Silicon Hills neighborhood. Built on 18.3 acres in 2016, Walnut Park features one- and two-bedroom units with an average size of 978 square feet. Amenities include a pool with a sundeck, clubhouse with a full kitchen and bar area, 24-hour fitness center, indoor spa and event space with a media room. Patton Jones and Andrew Dickson of Newmark represented the seller, locally based developer Larry Peel Co., in the transaction. Matthew Steinberg represented the buyer, Los Angeles-based Langdon Street Capital, on an internal basis. The sales price was not disclosed. Walnut Park was 97.5 percent occupied at the time of sale.
AUSTIN, TEXAS — Metro Dallas-based developer LodgeCap has opened the 135-room AC Hotel Austin Hill Country, a Marriott-branded hotel located at 7415 Southwest Parkway on the west side of Austin. The hotel offers a pool, lobby bar, sky lounge bar and meeting/event space. Merriman Anderson Architects provided interior design services for the five-story building, while a local affiliate of the Dallas-based firm, Merriman Pitt Anderson, provided exterior design and construction administration services.
RICHARDSON, TEXAS — Colliers has arranged the sale of Collins Commerce Center, a 75,601-square-foot office building located at 1651 N. Collins Road in the northeastern Dallas suburb of Richardson. Cody Payne and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
FORT WORTH, TEXAS — NAI Robert Lynn has arranged the sale of Sylvania Industrial Park, an 880,000-square-foot manufacturing campus in Fort Worth. Todd Hubbard of NAI Robert Lynn represented the buyer, Dallas-based CanTex Capital, which plans to implement a value-add program, in the transaction. The seller and sales price were not disclosed. Sylvania Industrial Park is the largest crane- and rail-served manufacturing campus of its kind in the metroplex, according to the brokerage team.
HOUSTON — New York-based investment firm July Residential has acquired Carmel Creek Apartments, a 536-unit multifamily community in the Brookhollow neighborhood of Houston. Built in 1982, the property features one- and two-bedroom units ranging in size from 518 to 1,193 square feet and amenities such as a pool, fitness center and onsite laundry services. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia originated an undisclosed amount of Freddie Mac acquisition financing for the deal. The loan carried a 10-year term, fixed interest rate, four years of interest-only payments and a loan-to-value ratio of 70 percent.
PLANO, TEXAS — Granite Properties has broken ground on the 420,000-square-foot Building 6 within Granite Park, the company’s 90-acre master-planned development in the northern Dallas suburb of Plano. Designed by BOKA Powell with interior design by HKS Architects, Granite Park Six will rise 19 stories and is scheduled for a June 2023 completion. Amenities will include a terrace with a lounge, golf simulator and green space, as well as a fitness center, coffee kiosk, 400-seat lecture hall and three conference rooms. Austin Commercial is the general contractor for the project. In addition, Stonebriar Commercial Finance has signed a lease for two floors and 52,000 square feet at Granite Park Six. Tyler Thomas and Scott Morse of Citadel Partners represented the tenant in those lease negotiations. Robert Jimenez and Burson Holman represented Granite Properties on an internal basis.