Texas

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Square Mile Capital Provides $45.5M Acquisition Loan for North Texas Multifamily Asset

by Taylor Williams March 22, 2021

DENTON, TEXAS — Square Mile Capital has provided a $45.5 million acquisition loan for Village at Rayzor Ranch, a 300-unit multifamily community located within the Rayzor Ranch mixed-use development in Denton. Built in 2019, the property offers amenities such as a pool, fitness center, art clubhouse, outdoor grilling areas, dog park, pickleball and bocce ball courts, coworking space, coffee bar and an outdoor yoga terrace. Dustin Dulin of JLL arranged the loan on behalf of the borrower, Seven Seas Holdings. EPC Real Estate Group developed Village at Rayzor, which was approximately 90 percent occupied at the time of sale.

March 22, 2021

Loans Multifamily Texas

Berkadia Closes $26.8M Agency Acquisition Loan for Metro Dallas Apartments

by Taylor Williams March 22, 2021

LEWISVILLE, TEXAS — Berkadia has provided a $26.8 million Freddie Mac acquisition loan for Arbor Creek, a 280-unit apartment community in the northern Dallas suburb of Lewisville. The property was built in 1984, and its units offer washers and dryers and private balconies/patios. Amenities include a fitness center, dog park and picnic areas. Mitch Sinberg and Brad Williamson of Berkadia originated the floating-rate financing on behalf of the borrower, Miami-based Eagle Property Capital. The seller was Dallas-based CONTI Organization.

March 22, 2021

Acquisitions Industrial Texas

Lee & Associates Brokers Sale of 52,000 SF Manufacturing Building in Houston

by Taylor Williams March 22, 2021

HOUSTON — Lee & Associates has brokered the sale of a manufacturing building located on approximately 7.9 acres at 9110 Taub Road in Houston. According to LoopNet Inc., the property was built on 10 acres in 1997. Mike Spears and Frank Blackwood of Lee & Associates represented the buyer, Integrated Induction Inc., in the transaction. David Boyd and Wes Williams of Boyd Commercial represented the Houston-based seller, Allegiance Bank.

March 22, 2021

Leasing Activity Office Texas

Axiom Space Signs 32,389 SF Office Lease Expansion Near NASA Johnson Space Center in Houston

by Taylor Williams March 22, 2021

HOUSTON — Axiom Space Inc., a locally based developer of space infrastructure, has signed a 32,389-square-foot office lease expansion at 1290 Hercules Ave. near the NASA Johnson Space Center in Houston. Matthew Seliger, Doug Little and Louann Pereira of Transwestern represented the building owner, Capital Commercial Investments Inc., in the lease negotiations. Noah Kruger and Derrell Curry of Savills Inc. represented the tenant, which originally leased space at the 63,716-square-foot building last year. The new lease expansion brings the property to full occupancy.

March 22, 2021

Development Industrial Texas

Hunt Southwest to Develop 712,900 SF Spec Industrial Project in Metro Dallas

by Taylor Williams March 19, 2021

FORNEY, TEXAS — Dallas-based developer Hunt Southwest will build Gateway East Trade Center, a 712,900-square-foot speculative industrial project in Forney, an eastern suburb of Dallas. The 45-acre site is located at the intersection of Gateway Boulevard and U.S. Highway 80 within Gateway East Industrial Park, a master-planned development. Building features will include 40-foot clear heights, an ESFR sprinkler system and abundant trailer parking. Construction is scheduled to begin in April and to be complete in the first quarter of 2022. Cushman & Wakefield is leasing the project.

March 19, 2021

Loans Multifamily Texas

Berkadia Provides $28.4M Agency Acquisition Loan for Irving Apartments

by Taylor Williams March 19, 2021

IRVING, TEXAS — Berkadia has provided a $28.4 million Freddie Mac acquisition loan for Residences at Northgate, a 320-unit apartment community in Irving. The property was built in 1983, and its units offer washers and dryers and private balconies/patios. Amenities include a fitness center, dog park and picnic areas. Mitch Sinberg and Brad Williamson of Berkadia originated the floating-rate financing on behalf of the borrower, Miami-based Eagle Property Capital. The new ownership will implement a value-add program. The seller was C-III Capital Partners.

March 19, 2021

Development Multifamily Texas

D’Agostino Breaks Ground on 291-Unit Multifamily Project in Metro Houston

by Taylor Williams March 19, 2021

FRIENDSWOOD, TEXAS — Locally based developer D’Agostino Cos. has broken ground on The Reserve at Baybrook, a 291-unit multifamily project in Friendswood, located south of Houston. The community will feature one-, two- and three-bedroom units that average 921 square feet and are furnished with stone countertops, tile backsplashes, stainless steel appliances and individual washers and dryers. Amenities will include a pool, outdoor entertainment area, clubhouse, fitness center and a golf simulator room. Chris Bergmann Jr. of JLL represented D’Agostino Cos. in its acquisition of the land from Finwood Properties last summer. Austin-based Oden Hughes is the general contractor for the project. Completion is slated for May 2022.

March 19, 2021

Development Multifamily Texas

AHV Communities Begins Work on 142-Unit Duplex Rental Community in San Antonio

by Taylor Williams March 19, 2021

SAN ANTONIO — California-based AHV Communities has begun work on Farm Haus, a 142-unit duplex rental community in northwest San Antonio. Residences will feature two-, three- and four-bedroom layouts with quartz countertops, stainless steel appliances, two-car garages and private fenced yards. Amenities will include a pool, fitness center, communal kitchen, conference room, great room, bocce court and a dog park. Construction will be carried out in five phases, with preleasing set to begin in April and full completion slated for the second quarter of 2022. Monthly rates will range from approximately $1,775 to $2,200.

March 19, 2021

Leasing Activity Retail Texas

Sprouts Farmers Market to Open 25,000 SF Store in Grand Prairie, Texas

by Taylor Williams March 19, 2021

GRAND PRAIRIE, TEXAS — Phoenix-based grocer Sprouts Farmers Market will open a 25,000-square-foot store in Grand Prairie, located roughly midway between Dallas and Fort Worth, in the second half of the year. The opening is part of a larger rollout of 20 stores nationwide that feature the grocer’s new format, which is slightly smaller than its prototype. Sprouts currently operates 362 stores across 23 states and is also planning to open a new store in Irving.

March 19, 2021

Lantower-Southwest-Building-Wichita-Falls

Acquisitions Office Texas

Marcus & Millichap Brokers Sale of 124,356 SF Office Building in Wichita Falls, Texas

by Taylor Williams March 18, 2021

WICHITA FALLS, TEXAS — Marcus & Millichap has brokered the sale of the Lantower Southwest Building, a 124,356-square-foot office property in Wichita Falls, located roughly midway between Dallas and Amarillo. The building is situated on 3.5 acres and was 81 percent leased at the time of sale to tenants such as Merrill Lynch, J.P. Morgan Chase, Wichita Home Health and Jacksboro National Bank. Joseph Jacques of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.

March 18, 2021

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