TEMPLE, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 70-unit transitional care facility in Temple, approximately 70 miles north of Austin. Mainstreet developed the newly constructed healthcare property but never opened it. An undisclosed, Texas-based investor acquired the asset for $10.5 million. The new owner structured a lease with a national healthcare system based out of Southern California and will operate the facility as a specialty post-acute hospital.
PLANO, TEXAS — Dallas-based Rosewood Property Co. has broken ground on a 326-unit multifamily project in Plano. The property, which has yet to be branded, will sit on a 4.3-acre site at 601 Belpree Drive. Amenities will include a pool, fitness center, courtyard, coworking lounge and a golf simulator. Rosewood has partnered with MetLife Investment Management on the project, which will be located within the 156-acre Heritage Creekside mixed-use development. Other project partners include architecture firm Hensley, Lamkin, Rachel Inc. and Provident General Contractors. Veritex Bank provided construction financing. Leasing is scheduled to begin in fall 2023 will full completion slated for 2024.
LITTLE ELM, TEXAS — Locally based developer Hillwood has begun leasing Union House, a 322-unit apartment community in Little Elm, located in Denton County. Units are available in one-, two- and three-bedroom floor plans and range in size from 613 to 1,489 square feet. Residences also feature stainless steel appliances, built-in desks and private patios. Amenities include a pool, 24-hour fitness center, two dog parks and coworking space with private offices and a conference room. HEDK Architects designed Union House, which will officially open on Monday, May 16. Full completion of the project is slated for the fall. Monthly rents start at in the $1,300s for a one-bedroom unit.
AUSTIN, TEXAS — Los Angeles-based investment firm TruAmerica Multifamily has acquired Cannon Oaks, a 230-unit apartment community in Austin. Built in 2003, Cannon Oaks offers a mix of two-, three- and four- bedroom apartments averaging roughly 1,000 square feet. The amenity package comprises a pool, fitness center, clubhouse and a children’s play area. TruAmerica plans to renovate interior units with new quartz countertops, stainless steel appliances, vinyl plank flooring, white shaker cabinetry and upgraded lighting and plumbing fixtures. The seller and sales price were not disclosed.
GRAPEVINE, TEXAS — A joint venture between two locally based firms, 2GR Equity and SHOP Development, has purchased Southlake Marketplace, a 132,000-square-foot shopping center in Grapevine, located in the northern central part of the metroplex. Hobby Lobby and Urban Air anchor the center, which was 92 percent leased at the time of sale, although the latter tenant owns its space. The new ownership plans to upgrade the center’s landscaping, signage and parking areas. The seller was not disclosed.
HOUSTON — Ideal Steel Inc., an Oregon-based fabricator, has signed a 66,500-square-foot industrial lease renewal at 5900 Brittmoore Road in northwest Houston. According to LoopNet Inc., the single-tenant property was built in 1969. Jake Wilkinson and Darren O’Conor of NAI Partners represented the tenant in the lease negotiations. Brad Berry and Ryan Wasaff represented the locally based landlord, Welcome Group, on an internal basis.
PLANO, TEXAS — A partnership between two locally based investment firms, Centennial and Cawley Partners, as well as New York City-based Waterfall Asset Management, has acquired the 1.4 million-square-foot Shops at Willow Bend in Plano. The new ownership plans to redevelop the property, though specific details were not disclosed. Taubman originally developed the shopping center in 2001. Tenants include Neiman Marcus, Dillard’s, Macy’s, Crate & Barrel, Vineyard Vines, H&M, Anthropologie, Equinox and Crayola Experience. California Pizza Kitchen, Wetzel’s Pretzels and Great American Cookies are among the food and beverage users. According to Chain Store Age, the seller was Syracuse-based Spinoso Real Estate Group.
AUSTIN AND SAN ANTONIO — CBRE has provided a $62.1 million Fannie Mae loan for the refinancing of a portfolio of six multifamily properties totaling 1,632 units, the majority of which are located in Central Texas. Specifically, the portfolio comprises Canyon Point, Oak Springs and Deer Oaks in San Antonio and Churchill Crossing in Austin, as well as two properties in Charleston, S.C. Nate Sittema and Kristen Reilley of CBRE originated the 10-year, interest-only loan on behalf of the borrower, Boston-based Churchill Forge Properties.
LEWISVILLE, TEXAS — Bright Realty has added 11 new retail and restaurant users at The Realm at Castle Hills, the locally based developer’s 324-acre mixed-use destination in the northern Dallas suburb of Lewisville. Food and beverage concepts include Saray Mediterranean Fusion Grill & Bar, Salubrious Juice & More, donut eatery Mochinut, smoothie bar Bahama Bucks, breakfast concept Food Morning and Japanese restaurant Luster Grill. The roster now also features three salons — Cool Heads, Salon Bellus and Cachet Salons & Spa — as well as fitness concept Hotworx and Castle Hills Animal Hospital.
COLLEGE STATION, TEXAS — Cell and gene therapy firm Matica Biotechnology has opened a 45,000-square-foot life sciences facility at Providence Park, a 52-acre research and development campus in College Station. Providence Park houses the former 180,000-square-foot facility of Pittsburgh-based manufacturer Westinghouse. Oldham Goodwin manages the property.