HOUSTON — National mortgage origination and servicing firm NewRez has signed a 60,188-square-foot lease at 17000 Katy Freeway, a 174,521-square-foot office building in West Houston. Eric Anderson and Parker Burkett of Transwestern represented the owner, an affiliate of Insite Realty Partners LP, in the lease negotiations. Marshall Clinkscales with Colliers International represented NewRez. With the signing of this transaction, the building is now 70 percent leased.
HOUSTON — An affiliate of locally based investment firm Rycore Capital has acquired Bellaire Medical Plaza, a 58,517-square-foot medical office building located near the Texas Medical Center in Houston. The sale included a 3.6-acre parcel for future development. Kevin McConn and Brian Bacharach of JLL represented the seller, Ridgeline Capital Partners, in the transaction. Matt Kafka and Cameron Cureton of JLL arranged acquisition financing on behalf of Rycore Capital. The property was 88 percent leased at the time of sale to tenants such as UT Physicians, Quest Diagnostics, LabCorp. and Harris Health System.
ODESSA, TEXAS — New York City-based Dwight Capital has provided an $18.5 million HUD loan for the refinancing of Brady Station Apartments, a 262-unit multifamily asset located in the West Texas city of Odessa. The property consists of 18 buildings and features amenities such as a pool, tennis court, dog park, playground and a putting green. Kevin Lifshitz and Jacob Gauptman of Dwight Capital originated the loan on behalf of the borrower, an affiliate of Iowa-based BH Equities LLC.
HOUSTON — A subsidiary of Kentucky-based Charah Solutions has purchased and will redevelop the 6,166-acre Gibbons Creek Steam Electric Station & Reservoir in Grimes County, located northwest of Houston. The new ownership plans to redevelop the property to support solar, battery, and energy storage uses and will work with the Texas Commission on Environmental Quality (TCEQ) to complete all environmental remediation required for the property. Richard Shields, Richard Hanson, Marissa Rose and Tommy Leblanc of Avison Young advised Charah Solutions on the deal.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Amadco Self Storage, a facility in Fort Worth. The number of units was not disclosed. The property is situated on 10 acres and spans 31,305 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
COLLEYVILLE, TEXAS — CBRE has arranged a $32 million bridge loan for the refinancing of Town Center Colleyville, a 246,327-square-foot shopping center in Colleyville, a northeastern suburb of Fort Worth. The borrower, Sterling Organization, acquired the grocery-anchored property in 2020. Shaun Moothart, Dana Summers, Scott Lewis and Frank Piasta of CBRE arranged the financing through Rialto Capital. The loan was structured with a three-year initial term and two one-year extension options.
FORT WORTH, TEXAS — Colliers International has negotiated the sale of Golden Heights Business Park, a 48,000-square-foot industrial flex property in Fort Worth. The property consists of four buildings that were built in 2017 and were fully occupied at the time of sale. Cody Payne, Austin Edelmon and Michael Tran of Colliers represented the seller, a private investor, in the transaction. The buyer was an out-of-state 1031 exchange investor.
JARRELL, TEXAS — A group of local entrepreneurs has opened The Granary, a food, drink and entertainment venue in Jarrell, located about 40 miles north of Austin. The Granary is a 1.1-acre site fronting Interstate 35 that is a retrofit of an existing garage and office space using old barn wood from a nearby church barn that was torn down. The venue houses multiple food trucks, outdoor seating for 200 people and a music stage that is a retrofit of an old grain truck. The owners are also looking to purchase the adjacent lot to provide additional parking.
COLLEGE STATION, TEXAS — Los Angeles-based investment firm Mountain Capital Partners has acquired 2818 Place and Parkway Place, two student housing properties in College Station totaling 1,128 beds that serve students of Texas A&M University. The garden-style properties total 350 units, were respectively built in 2008 and 2009 and feature amenities such as two pools, volleyball and basketball courts, fitness centers, game rooms, computer labs and study rooms. Ryan Lang, Jack Brett and Ben Harkrider of Newmark represented the seller, Chicago-based Blue Vista Capital Management, in the transaction.
WACO, TEXAS — CSD Realty has brokered the sale of a 438-unit self-storage facility located at 1620 La Salle Ave. in Waco. The facility spans 58,000 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, Unlimited Storage LLC, in the transaction. The duo also procured the buyer, Store Space Self Storage, a Florida-based investment firm.