GOLIAD, TEXAS — Stan Johnson Co. has arranged the sale-leaseback of a portfolio of 13 industrial facilities totaling 118,000 square feet in Goliad, about 100 miles southeast of San Antonio. John Rotunno of Stan Johnson Co. represented the seller and tenant, Oryx Oilfield Services, in the transaction. Colorado-based private equity firm Real Capital Solutions purchased the portfolio for an undisclosed price.
DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased LBJ Station, a 249-unit apartment community in the Northwood Heights area of Dallas, for $51 million. The property was built in 2017. Units average 767 square feet and feature one- and two-bedroom floor plans. Amenities include a pool with a sundeck, fitness center with yoga and Pilates studios, coffee bar, clubhouse, two dog parks and a package handling system. Chris Deuillet of CBRE brokered the sale. Alpha Barnes Real Estate sold the property, and Rialto Capital provided $42 million in acquisition financing. ShainRealty Capital plans to invest $1.8 million in renovations and rebrand the property as Infinity on the Point.
AUSTIN, TEXAS — Los Angeles-based REIT Kilroy Realty Corp. (NYSE: KRC) has acquired a 2.9-acre site near The Domain in North Austin that is zoned for the development of a 493,000-square-foot office building. The sales price was $40 million. The seller was not disclosed. Entitlements have been fully secured, and construction could commence as soon as this summer, with delivery occurring in 2024.
SAN ANTONIO — Lument has provided two acquisition loans totaling $32 million for a pair of multifamily assets in San Antonio. In the first transaction, Lument originated a $17.5 million loan for Auburn Creek, a 224-unit community that was originally built in 1976 and was 91 percent occupied at the time of the loan closing. In the second deal, Lument funded a $14.5 million loan for Fairways, a 205-unit complex that was initially constructed in 1973 and had an occupancy rate of 95 percent when the loan closed. Marc Suarez led the transactions for Lument. The borrower was locally based multifamily investment firm Lynd Group.
SPRING, TEXAS — Thompson Thrift Residential, a subsidiary of Indianapolis-based investment firm Thompson Thrift, has sold Magnolia, a 336-unit apartment community located in the northern Houston suburb of Spring. The property was built on 15.5 acres in 2018 and features one-, two- and three-bedroom units with glass countertops, stainless steel appliances, and full-size washers and dryers. Amenities include a pool, fitness center, bark park, game room, coffee bar and an outdoor kitchen. A private investment firm purchased the asset for an undisclosed price.
FRISCO, TEXAS — Locally based firm Caddis Healthcare Real Estate will develop Frisco Medical Pavilion II, a 60,000-square-foot medical office building that will be located on the northern outskirts of Dallas. The site is located just north of Texas Health Frisco Hospital. Construction is expected to begin in mid-2022, with an estimated completion date of summer 2023. Transwestern has been tapped to lease the property. Caddis broke ground on the Frisco Medical Pavilion I in 2018, and the building is now fully leased.
HUMBLE, TEXAS — San Antonio-based multifamily investment firm The Lynd Group has sold Paramount at Kingwood, a 372-unit apartment community located on the northern outskirts of Houston. Massachusetts-based Colony Hills Capital purchased the property for $61.3 million. Built in 2000, Paramount at Kingwood features one-, two- and three- bedroom units and amenities such as a clubhouse, business center, pool and a fitness center. Lynd acquired the property in June 2021 for $44.5 million and implemented approximately $2 million in capital improvements.
CELINA, TEXAS — Mill Creek Residential is underway on construction of Amavi Celina, a 271-unit build-to-rent residential community that will be located about 35 miles north of Dallas. The unit mix will consist of 155 cottages, 94 townhomes and 22 single-family detached homes. Amavi Celina will span 45 acres and will feature a trail system, dog park, fitness center and resort-style pool. Keaton Merrell and Shannon Hersker of Walker & Dunlop originated a four-year, interest-only construction loan to Mill Creek Residential for the project, a completion date for which was not disclosed.
DALLAS — New York City-based Sentinel Real Estate Corp. has purchased Third Rail Lofts, a 164-unit multifamily property in downtown Dallas that also houses three retail spaces. The three-building complex features studio, one- and two-bedroom units with stainless steel appliances, walk-in closets, custom cabinetry and granite countertops. Amenities include a pool, bowling alley, billiards room, movie theater, wine tasting room, outdoor bar with a grilling area and a private dog walk. Sentinel plans to implement a value-add program and rebrand the community as Main 3 Downtown.
MIDLAND, TEXAS — Dallas-based brokerage firm SRS Real Estate Partners has arranged the $6 million sale of a 94,579-square-foot retail building in the West Texas city of Midland that is occupied by Kohls and Crunch Fitness. Both tenants operate on long-term, triple-net leases. The building was originally constructed in 2005 and is situated within a 250,000-square-foot shopping center that includes Ashley HomeStore, Cracker Barrel, Sherwin-Williams and Jack in the Box. Britt Raymond and Kyle Fant of SRS represented the seller, a Texas-based developer, in the transaction. Jake Bordelon of Marcus & Millichap represented the buyer, a California-based private investor.