AUSTIN, TEXAS — Regent Properties, an investment and management firm headquartered in Dallas and Los Angeles, has acquired 816 Congress, a 435,000-square-foot office building in downtown Austin. The 20-story building offers amenities such as a fitness center, conference facilities and a sky lounge with a terrace. Regent plans to implement a capital improvement program that includes repositioning the lobby and courtyards, as well as the activation of roughly 12,000 square feet of retail space. The seller and sales price were not disclosed.
DALLAS — Locally based developer Billingsley Co. is underway on construction of a new, 260,000-square-foot headquarters campus in Dallas for home improvement retailer At Home. The property will be located within Billingsley’s Cypress Waters development and will consist of 182,000 square feet of office space and a 78,000-square-foot design center. Amenities will include training rooms, wellness facilities, coworking spaces and a barista bar. Architecture firms GFF and Corgan designed the project. Completion is slated for December. At Home, which is currently headquartered in Plano, employs a corporate staff of about 400 in Dallas and plans to expand to over 1,000 over the next 10 years. The retailer operates about 230 stores across 40 states.
HOUSTON — Houston-based developer BHW Capital has sold The Park at Tour 18, a 241-unit apartment community located on the city’s northeast side. Units at the property come in one- and two-bedroom floor plans that, according to Apartments.com, range in size from 700 to 1,198 square feet. Amenities include two pools, a fitness center, game room, dog park, indoor and outdoor grilling stations and a conference room. Dallas-based Civitas Capital acquired the asset for an undisclosed price.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of The Villas at Cantamar, a 265-unit apartment community located on the west side of Fort Worth. The property features one-, two- and three-bedroom units and amenities such as two pools, a playground and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the locally based buyer and seller, both of which requested anonymity, in the transaction.
PROSPER, TEXAS — Dallas-based Younger Partners has purchased The Shops at Prosper Trail, a 96,948-square-foot shopping center located northeast of Dallas. Shadow-anchored by Kroger, the property was built in 2016 and was 98 percent leased at the time of sale. Adam Howells and Zach Riebe of JLL represented the seller, MQ Development Co., in the transaction. Micah Ashford, Moody Younger and Kathy Permenter represented Younger Partners on an internal basis.
DALLAS — Cushman & Wakefield has brokered the sale of a portfolio of 80 office and light industrial buildings totaling approximately 2.3 million square feet that are located across the Dallas-Fort Worth metroplex. About 75 percent, or 61 of the buildings totaling 1.7 million square feet, are light industrial facilities, and the remainder are office assets. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield represented the seller, locally based investment firm Momentum Commercial Realty, in the transaction. California-based CIP Real Estate purchased the portfolio for an undisclosed price.
ARLINGTON, TEXAS — Miami-based Eagle Property Capital (EPC) has sold Montecito Club, a 331-unit apartment community in Arlington that was built in phases between 1968 and 1979. Montecito Club features studio, one-, two- and three-bedroom residences that offer private balconies and patios in select units. Communal amenities include a pool, business center, fitness center, resident clubhouse, sports court, dog park and outdoor grilling and picnic areas. New York City-based APF Properties purchased the asset for an undisclosed price. EPC originally acquired the asset in 2016 and renovated unit interiors, upgraded common areas and amenity spaces and implemented more water- and energy-saving programs.
DALLAS — Los Angeles-based Banyan Residential, in partnership with Bridge Investment Group, has broken ground on Banyan Flats, a 289-unit multifamily project that will be located at 2022 N. Beckley Ave., just west of downtown Dallas. Floor plans will feature micro, studio, one-, two- and three-bedroom units ranging in size from 415 to 1,425 square feet. Amenities will include a pool, fitness center, clubhouse, dog wash and a rooftop deck. JHP Architecture is designing the project. J.P. Morgan provided construction financing for the project, which is slated for a 2023 completion.
DALLAS — A partnership between Dallas-based investment firm OliveMill Holdings, Hunt Realty Investments and New York City-based Angelo Gordon has acquired a 240,000-square-foot office building in North Dallas. The 18-story building at 2801 N. Central Expressway was constructed in 2015 as a build-to-suit for advertising agency The Richards Group, which still occupies the building. OliveMill will oversee management of the building. The seller and sales price were not disclosed. Jim Curtin, Kris Lowe, Rex Cruz and Ryan Pollack of JLL arranged an undisclosed amount of floating-rate acquisition financing on behalf of the partnership through a fund managed by AllianceBernstein.
CYPRESS, TEXAS — Arizona-based homebuilder Taylor Morrison (NYSE: TMHC) will develop a 240-unit single-family rental (SFR) community in the northwestern Houston suburb of Cypress. Homes will come in one-, two- and three-bedroom formats and will range in size from approximately 750 to 1,250 square feet. Communal amenities will include a pool, fitness center, event lawn and a dog park. Christopher Todd Communities will operate and manage the property. Initial occupancy is slated for late 2023.