Texas

Rosewood Breaks Ground on 359-Unit Multifamily Project in San Antonio

by Taylor Williams May 1, 2024

SAN ANTONIO — Dallas-based Rosewood Property Co. has broken ground on Phase III of Tobin Estates, a 359-unit multifamily project located in the Alamo Heights area of San Antonio. In addition to the 265 apartments that will be housed in a four-story wraparound buildings, Phase III will feature 94 units with private garages within two four-story buildings. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, indoor and outdoor fitness centers, resident lounge and a rooftop deck. Project partners included Provident General Contractors, WDG Architecture, civil engineer Westwood and construction lender InterBank. Construction is expected to last about two years. Phase II of Tobin Estates totaled 311 units, and Phase I totaled 286 units.

May 1, 2024

Development Multifamily Texas

Urban Moment Nears Completion of 230-Unit Apartment Complex in Denton, Texas

by Taylor Williams May 1, 2024

DENTON, TEXAS — Austin-based developer Urban Moment is nearing completion of YardHomes Parkside, a 230-unit apartment complex located in the North Texas city of Denton. YardHomes Parkside will offer one-, two- and three-bedroom floor plans that will range in size from 635 to 1,375 square feet. Residences will be furnished with stainless steel appliances, granite countertops and smart-home technology products. Amenities will include a pool, fitness center and outdoor grilling and dining stations. Full completion is slated for later his month.

May 1, 2024

Leasing Activity Office Texas

McCarthy Building Cos. Signs 38,230 SF Office Lease in Houston’s Galleria District

by Taylor Williams May 1, 2024

HOUSTON — McCarthy Building Cos. has signed a 38,230-square-foot office lease at 2200 Post Oak in Houston’s Galleria District. The St. Louis-based general contractor plans to move into the 22-story, 326,200-square-foot building, which is currently being renovated, next year. Brad Fricks and Adam Ross of Stream Realty Partners represented the landlord, Masaveu Real Estate, in the lease negotiations. Scott Wetzel and Beau Bellow of JLL represented the tenant.

May 1, 2024

Company News Texas

St. John Properties Opens New Office in Metro Dallas

by Taylor Williams May 1, 2024

PLANO, TEXAS — St. John Properties has opened a new office at 7250 Dallas Parkway in Plano. The office is the second in Texas for the Baltimore-based developer following its launch of an Austin office in spring 2022. Raphael Alterman will lead the new office under the title of regional partner. St. John, which primarily focuses on industrial and has a portfolio of commercial assets valued at roughly $5 billion, now operates 15 offices across 11 states.

May 1, 2024

Acquisitions Office Texas

Hillwood Acquires 383,000 SF Office Park Near DFW Airport in Irving

by Taylor Williams April 30, 2024

IRVING, TEXAS — Hillwood has acquired Freeport Business Center, a three-building, 383,000-square-foot office park located near Dallas-Fort Worth International Airport in Irving. The property spans 34 acres, and the buildings were 70 percent leased at the time of sale to tenants such as Northrop Grumman Corp., Yardi Systems, SiriusXM and Boeing. The undisclosed seller also recently invested $6.5 million in capital improvements to Freeport Business Center, including lobby renovations, window upgrades, fresh landscaping and updated building operation systems.

April 30, 2024

Acquisitions Multifamily Texas

Rise48 Equity Buys 288-Unit Apartment Community in Haltom City, Plans $7M Renovation

by Taylor Williams April 30, 2024

HALTOM CITY, TEXAS — Locally based investment firm Rise48 Equity has purchased Mosaic Apartments, a 288-unit apartment community located north of Fort Worth in Haltom City. The property offers one- and two-bedroom units and amenities such as two pools, a fitness center and outside grilling and dining stations. The new ownership plans to invest about $7 million in capital improvements and rebrand the property as Rise Fossil Creek. The seller and sales price were not disclosed.

April 30, 2024

Industrial Loans Texas

Byline Bank Provides $14M Construction Loan for San Antonio Industrial Project

by Taylor Williams April 30, 2024

SAN ANTONIO — Byline Bank has provided a $14 million construction loan for a 257,000-square-foot industrial project in San Antonio. The 16-acre site is located near the intersection of Rittiman Road and Woodlake Center Drive on the city’s northeast side. The rear-load building will feature 32-foot clear heights and dedicated trailer parking. The borrower is a joint venture between TradeLane Properties and Phelan Development Co. A tentative completion date was not disclosed.

April 30, 2024

Acquisitions Industrial Texas

Realterm Acquires Industrial Outdoor Storage Site in El Paso

by Taylor Williams April 30, 2024

EL PASO, TEXAS — Annapolis, Md.-based investment firm Realterm has acquired an 8.5-acre industrial outdoor storage site in El Paso. The 22-door truck terminal is located at 150 Inglewood Drive on the city’s east side and consists of a 15,047-square-foot terminal building and a 4,036-square-foot maintenance shop. The property was fully leased at the time of sale to DC Logistics. The seller was not disclosed.

April 30, 2024

Leasing Activity Restaurant Retail Texas

Vila Brazil to Open 7,332 SF Restaurant in Garland, Texas

by Taylor Williams April 30, 2024

GARLAND, TEXAS — Steakhouse concept Vila Brazil will open a 7,332-square-foot restaurant in the northeastern Dallas suburb of Garland. The site is a freestanding building within the Harbor Point retail center, which is shadow-anchored by Bass Pro Shops, on the shores of Lake Ray Hubbard. Greg Blandford and Jack Thomas of Weitzman represented Vila Brazil in the lease negotiations. David Zoller, also with Weitzman, represented the undisclosed landlord. The opening is slated for late summer.

April 30, 2024

Development Multifamily Student Housing Texas

Joint Venture to Develop 873-Bed Student Housing Community Near Texas A&M University

by Taylor Williams April 29, 2024

COLLEGE STATION, TEXAS — A joint venture between Harrison Street, The Dinerstein Cos. and Up Campus Student Living will develop an 873-bed student housing community near the Texas A&M University campus in College Station. Dubbed Aspire A&M, the community will be situated within the city’s Northgate neighborhood and will rise 19 stories. The property will include 11,000 square feet of ground-floor retail space and a 718-space parking garage. Shared amenities will include two rooftop pools, fitness facilities, study rooms, a theater and game lounge. The community is expected to be complete in advance of the 2026-2027 academic year.

April 29, 2024

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