MCKINNEY, TEXAS — Greystone has provided a $19.8 million Fannie Mae loan for the refinancing of Legacy on Rockhill, a 128-unit build-to-rent property in McKinney, located north of Dallas. Built on 13.2 acres in 2023, Legacy on Rockhill offers one-, two- and three-bedroom single-family and duplex-style homes with private backyards. Amenities include a pool, fitness center, dog park and a bocce ball court. John Sloot of Greystone originated the debt. The borrower was not disclosed. The property was 94 percent occupied at closing.
EULESS, TEXAS — Canadian investment firm Western Wealth Capital (WWC), which also has an office in Phoenix, has purchased Park Place Townhomes, a 97-unit multifamily asset located near DFW International Airport in Euless. The property was built in 1980 and has an average unit size of 1,116 square feet. WWC partnered with StepStone Group on the deal, which involved the assumption of the existing mortgage. Brian Murphy of Newmark brokered the sale. Katie Runyan of Walker & Dunlop handled the loan assumption.
PLANO, TEXAS — PACE Equity and Lone Star PACE have provided $2.4 million in C-PACE financing for the renovation of Independence Medical Center, a 57,000-square-foot medical office building located north of Dallas in Plano. Planned upgrades include a replacement of HVAC systems, modernization of common areas and the installation of 56 covered parking spaces with solar-paneled rooftops. The property owner was not disclosed.
HOUSTON — JLL has brokered the sale of a 225,000-square-foot, vacant office building in northwest Houston. The nine-story building at 4646 W. Sam Houston N was built in 2001 within the 150-acre Westway Park master-planned development and was most recently leased to oilfield services company Schlumberger, now known as SLB. Marty Hogan and Kevin McConn of JLL represented the undisclosed seller in the transaction. The buyer was US Property Management.
NEWPORT BEACH, CALIF. — CrownPoint Partners, a California-based brokerage firm, has arranged the sale-leaseback of a portfolio of five gas stations in Texas. The locations were not disclosed, but the sites are situated within “high-growth” markets, according to CrownPoint. Julius Swolsky and Don Bingham III of CrownPoint represented the seller in the all-cash transaction and procured the buyer, a Delaware-based investment firm. Both parties requested anonymity.
DALLAS — California-based healthcare investment firm HPA Exchange has acquired the Nexus Dallas Children’s Hospital, a 86,880-square-foot facility located at 9525 Greenville Ave. on the city’s north side. Nexus Health Systems operates the facility, which was renovated in 2022 as a build-to-suit for the provider. The pediatric hospital features 30 beds (expandable to 60) and offers seven care programs across 10 specialized services. The seller and sales price were not disclosed.
HOUSTON — Locally based brokerage firm Finial Group has negotiated an 18,812-square-foot industrial lease expansion and renewal in West Houston. According to LoopNet Inc., the property at 16670-16700 Park Row Drive was built in 1999 and totals 42,070 square feet. Jason Gibbons and Andrew Bischoff of Finial Group represented the undisclosed landlord in the transaction. The tenant is The Bayou City Hemp Co. Inc.
FORT WORTH, TEXAS — Three food-and-beverage operators will open new restaurants in downtown Fort Worth. The restaurants — Polanco, Reata and Bella Genta — will be located within 500 Throckmorton, a 37-story condo tower, and 500 Taylor, an 111,000-square-foot office project. Both buildings are part of a mixed-use development that is owned by SADA Capital Partners. Opening dates were not announced.
By Eric Burtt, executive vice president, partner development, Blue Stream Fiber In Texas, we pride ourselves on doing everything big. From booming cities to iconic skylines, the state is a magnet for growth and innovation. But when it comes to one of the most essential modern residential amenities — high-speed internet — multifamily properties aren’t always living up to the Texas standard. Connectivity has shifted from being a “nice-to-have” feature to a core utility in today’s real estate market. Just like water and electricity, residents expect fast, reliable internet to be ready from the moment they move in. For property owners and developers, the expectation is no longer just a service decision; it’s a marketing and investment decision. Why Connectivity Matters More Than Ever Internet use is not coming to a halt anytime soon. According to the National Telecommunications & Information Administration, in 2023, 13 million more people were online compared to just two years earlier. Today’s households download nearly 700 gigabytes (GBs) of data each month, and usage is still climbing. High-speed connectivity isn’t just about meeting tenant expectations. It’s also essential for protecting and growing property value. For owners and investors, properties with robust fiber connectivity lease faster, …
SAN FRANCISCO — OpenAI, along with Oracle Corp. (NYSE: ORCL) and SoftBank, has announced plans for the development of five new data centers in the United States. The new projects are part of the $500 billion Stargate initiative to expand American data center infrastructure, which was announced in January at the White House. Together with the flagship site in Abilene, Texas, the new data centers will bring Stargate to more than $400 billion in investment and almost 7 gigawatts (GW) of planned capacity over the next three years. OpenAI and Oracle will partner on three of the facilities — located in Shackelford County, Texas; Doña Ana County, New Mexico; and an additional site at an undisclosed location in the Midwest — which represent a $300 billion agreement between the companies. According to OpenAI, these projects are expected to create more than 25,000 onsite jobs and thousands of additional jobs throughout the country. Together, the facilities will offer up to 4.5 GW of capacity. A partnership between SoftBank and OpenAI will develop the other two data centers, which will have the capacity to scale to 1.5 GW over the next 18 months. One of the sites is located in Lordstown, Ohio, with …