Saturday, June 7, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Texas

Keystone-at-Castle-Hills-Carrollton
AcquisitionsMultifamilyTexas

CBRE Negotiates Sale of 690-Unit Keystone at Castle Hills Apartments in Metro Dallas

by Taylor Williams

CARROLLTON, TEXAS — CBRE has negotiated the sale of Keystone at Castle Hills, a 690-unit multifamily property in the northern Dallas suburb of Carrollton. According to Apartments.com, the property was built in 1988 and offers one-, two- and three-bedroom units. Amenities include two pools, a fitness center, resident clubhouse with a coworking lounge and outdoor grilling areas. Danny Baker, Nita Stewart, Chandler Sims and Kevin O’Boyle of CBRE represented the seller, Acre Valley Real Estate Capital, in the transaction. Miami-based Starwood Capital Group purchased the property for an undisclosed price.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingLoansLumentMultifamilyTexas

Lument Provides $18.6M Agency Loan for Refinancing of Affordable Housing Asset Near San Antonio

by Taylor Williams

UNIVERSAL CITY, TEXAS — Lument has provided an $18.6 million Fannie Mae loan for the refinancing of Meadows Apartments, a 216-unit affordable housing property in Universal City, a northeastern suburb of San Antonio. All units at the property, which was built in 1972, are reserved for renters earning 80 percent or less of the area median income (AMI). Marc Suarez of Lument originated the loan through Fannie Mae’s Green Rewards program on behalf of the sponsor, locally based multifamily development and investment firm Lynd Co.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 223-Unit Self-Storage Facility in Lufkin, Texas

by Taylor Williams

LUFKIN, TEXAS — Marcus & Millichap has brokered the sale of Texas Moving & Storage, a 223-unit self-storage facility in Lufkin, about 120 miles north of Houston. The facility was built in 2008 and spans 22,630 square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction. Knobler also secured the buyer, a locally based private investor. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareTexas

Texas Oncology to Open 22,300 SF Cancer Care Center in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Texas Oncology will open a 22,300-square-foot cancer care center at Alliance Town Center on the north side of Fort Worth. Corgan and E4H are serving as the architects of the project, and DPR Construction is the general contractor. Construction is underway, and the facility is scheduled to open some time next year. Once open, patients and their care teams at the existing Texas Oncology center in nearby Keller will transfer to the new facility.

Continue Reading
FacebookTwitterLinkedinEmail
Trammell-Crow-at-Passport-Park
AcquisitionsIndustrialTexas

CBRE Brokers Sale of 2 MSF Trammell Crow at Passport Park Industrial Complex in Irving

by Taylor Williams

IRVING, TEXAS — CBRE has brokered the sale of Trammell Crow at Passport Park, a 2 million-square-foot industrial complex in Irving. Built in 2018, the four-building property was 97 percent leased at the time of sale and features 40-foot clear heights, 205-foot truck court depths and ample car and trailer parking spaces. The Dallas-based real estate giant owns the property in conjunction with CBRE Global Investors. Ryan Thornton, Randy Baird, Jonathan Bryan and Eliza Bachhuber of CBRE represented ownership in the transaction. The buyer was an undisclosed, publicly traded REIT.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansTexas

Red Oak Provides Acquisition Loan for 473,000 SF Industrial Building in Wichita Falls, Texas

by Taylor Williams

WICHITA FALLS, TEXAS — Red Oak Financial, a Michigan-based lender, has provided an $8.1 million acquisition loan for a 473,000-square-foot industrial building in Wichita Falls, about 140 miles northwest of Dallas. The rail-served property sits on 97 acres and consists of two buildings totaling 350,000 and 123,000 square feet. Combined, the buildings offer 20,000 square feet of office space, as well as 45-foot clear heights, 12 dock doors and 621 parking spaces. The borrower, an affiliate of Panda Biotech, plans to implement a $47 million renovation program.

Continue Reading
FacebookTwitterLinkedinEmail
Infinity-at-the-Rim-San-Antonio
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 310-Unit Infinity at the Rim Apartments in San Antonio

by Taylor Williams

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Infinity at the Rim, a 310-unit apartment community in San Antonio. Built in 2018, the mid-rise property is located on a five-acre site within The Rim, a 1.8 million-square-foot mixed-use development on the city’s northwest side. Units feature studio, one-, two- and three-bedroom floor plans with an average size of 997 square feet. Amenities include a rooftop terrace, infinity pool and an outdoor amphitheater. Will Balthrope and Drew Garza of IPA represented the seller, Florida-based DeBartolo Development, in the transaction and procured the Maryland-based buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Cedar-Port-Office-Plaza
DevelopmentOfficeTexas

D’Agostino, TGS Cedar Port to Develop 132,000 SF Office Project in Metro Houston

by Taylor Williams

BAYTOWN, TEXAS — A partnership between local developer D’Agostino Cos. and TGS Cedar Port Partners LP will develop Cedar Port Office Plaza, a 132,000-square-foot project in the eastern Houston suburb of Baytown. Situated near Port Houston, the complex will consist of a 79,200-square-foot building and a 52,800-square-foot building that will be located within the 15,000-acre Cedar Port Industrial Park. Construction is scheduled to begin in October and to be complete in the first quarter of 2023. NAI Partners is leasing the project. TGS Cedar Port also plans to relocate its office headquarters to Cedar Port Office Plaza.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Aspen Technology Signs 79,867 SF Office Lease Renewal in Houston

by Taylor Williams

HOUSTON — Aspen Technology Inc., a metro Boston-based software developer, has signed a 79,867-square-foot office lease renewal at 2500 CityWest Blvd. in Houston. Win Haggard Jr. and Vince Strake of Cushman & Wakefield, along with internal agent Dennis Tarro of Patrinely Group, which owns the property in partnership with USAA Real Estate, represented the landlord in the lease negotiations. The representative of the tenant was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Company NewsTexas

CBRE to Acquire Majority Stake in British Management Firm Turner & Townsend for $1.3B

by Taylor Williams

DALLAS — CBRE Group Inc. (NYSE: CBRE) has entered into an agreement to acquire a 60 percent interest in Turner & Townsend, a project management and advisory firm based in the United Kingdom, for $1.3 billion. Upon the closing of the deal, which is expected to occur in the fourth quarter, Turner & Townsend’s executive management team, led by chairman and CEO Vincent Clancy, will continue to run the company’s day-to-day operations and retain a 40 percent equity stake. In addressing the motivating factors behind the deal, Turner & Townsend cited the opportunity to expand its service offerings in the United States via the Dallas-based real estate giant’s platform of occupier and investor relationships. Bob Sulentic, CBRE’s president and CEO, added that with public and private infrastructure investment at the top of the current U.S. political agenda, there are major growth opportunities in project management. “Turner & Townsend is by far the best firm to help us realize our ambitions for this business,” he says. CBRE’s stock price opened at $91.35 per share on Wednesday, July 28, the first full day of trading after the deal was announced. Shares were trading at a high of $96.96 per share during the …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts