Texas

Timberhill-Commons-San-Antonio

SAN ANTONIO — Berkadia has arranged a $33.9 million bridge loan for Timberhill Commons, a 340-unit apartment community in northwest San Antonio. Built in 2020, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and a clubhouse. Charles Foschini of Berkadia arranged the financing through KeyBank Real Estate Capital on behalf of the borrower, an entity doing business as Timberhill Commons Ltd. The loan, proceeds of which will be used to repay construction debt, carried a three-year term, floating interest rate and a 70 percent loan-to-value ratio.

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SAN MARCOS, TEXAS — New York City-based Dwight Capital has provided a $26.7 million HUD loan for the refinancing of Sadler House, a 240-unit multifamily asset in San Marcos, located roughly midway between Austin and San Antonio. The property was built between 2016 and 2018 and consists of seven residential buildings, seven garages and a leasing center/clubhouse. Amenities include a pool, fitness center, dog park and an outdoor courtyard and entertainment pavilion. Josh Hoffman and Alex Shoenfeld of Dwight Capital originated the financing on behalf of the undisclosed borrower.

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COLLEGE STATION AND BRENHAM, TEXAS — Alliance Consolidated Group of Cos. has acquired a portfolio of net-leased medical office properties totaling 16,097 square feet in Texas for approximately $6 million. The portfolio consists of a 12,958-square-foot asset at 1730 Birmingham Road in College Station and a 3,139-square-foot property at 539 Medical Parkway in Brenham. Michael Moreno of Matthews Real Estate Investment Services represented the undisclosed seller in the deal. Texas ENT & Allergy is a tenant at both properties.

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Hebron-121-Station-Lewisville

LEWISVILLE, TEXAS — Locally based developer Huffines Communities has sold Hebron 121 Station, a 1,429-unit apartment community located in the northern Dallas suburb of Lewisville. The 90-acre community is located near several major thoroughfares, including Interstate 35, State Highway 121 and President George Bush Turnpike. Hebron 121 Station was developed in phases, beginning with the delivery of 250 units in 2011. Amenities include four pools with beaches and swim-up bars, entertainment lounges, an onsite restaurant and convenience store, dog parks, outdoor kitchens, two fitness centers and a 10,000-square-foot clubhouse and leasing center. The buyer was EastSky Properties. The sales price was undisclosed.

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WHITE SETTLEMENT, TEXAS — Dalfen Industrial has acquired Tarrant Distribution Center, a 98,666-square-foot property located adjacent to the Lockheed Martin Aeronautics headquarters facility in White Settlement, a western suburb of Fort Worth. Dalfen’s acquisition of the Class A property, which was built in 2017 and fully occupied at the time of sale, marks its second purchase in the Fort Worth area in the last nine months. The seller and sales price were not disclosed.

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FORT WORTH, TEXAS — A joint venture between Texas Orthopaedic Associates Fort Worth PLLC and Vaquero Ventures has purchased a 43,397-square-foot medical office building at 5900 Altamesa Blvd. in Fort Worth. Bill Behr and Jim Sager of Tranwestern represented the seller, USMD Hospital at Fort Worth LP, in the transaction. Texas Orthopaedic Associates will also occupy the building along with Texas Health Surgery Center Chisholm Trail.

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TEXAS CITY, TEXAS — Marcus & Millichap has brokered the sale of Three Palms Retail Center, a 26,318-square-foot property in Texas City, located south of Houston. Gus Lagos, Alex Wolansky, Jacob Starr and Zuhare Rizvon of Marcus & Millichap represented the seller in the transaction. Riley Sharman, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

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MCKINNEY, TEXAS — Locally based retail brokerage firm STRIVE has arranged the sale of Shops on Custer, a 15,690-square-foot retail strip center located in the northern Dallas suburb of McKinney. Jason Vitorino of STRIVE represented the seller, a local developer, in the transaction. Hudson Lambert, also with STRIVE, represented the Texas-based buyer. The property was fully leased to seven tenants at the time of sale.

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The-Link-Frisco

FRISCO, TEXAS — Locally based developer Stillwater Capital has received zoning approval from the city council of Frisco, a northern suburb of Dallas, for the development of The Link, a 240-acre mixed-use project near PGA of America’s new 600-acre headquarters campus. The PGA of America’s role is to oversee professional golf and promote interest in the game. The Link will feature Class A office, luxury residential, destination retail, boutique hospitality and entertainment uses. The name of the development stems from the pedestrian promenade that connects the site to the PGA’s campus through an expansive network of green spaces. According to multiple news outlets, including Community Impact Newspaper and Dallas Innovates, the project has a price tag of approximately $1 billion. “This project delivers on our promise to capitalize on the momentum generated by the PGA headquarters and Omni Resort,” says Frisco Mayor Jeff Cheney. “The Link will complement the energy of PGA Frisco by providing high-quality office spaces with unobstructed views of the golf course, a curated mix of entertainment and dining options, and large park spaces that will ensure a highly livable environment.” The PGA of America originally announced its relocation to Frisco from South Florida in late 2018. …

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Cornerstone-Logistics-Crossing-San-Antonio

SAN ANTONIO — Indianapolis-based developer Scannell Properties has broken ground on Cornerstone Logistics Crossing, a 423,260-square-foot speculative industrial project located on a 28.8-acre site in northeast San Antonio. The property will consist of two buildings totaling 224,220 square feet and 199,040 square feet that will be divisible to 30,000 square feet. Building features will include 32-foot clear heights and ample trailer parking. CBRE has been tapped to lease the development, which is expected to be complete in the late third or early fourth quarter.

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