Texas

SWBC Sells 331-Unit Royalton at Kingwood Apartments in Metro Houston

by Taylor Williams November 15, 2021

KINGWOOD, TEXAS — Texas-based developer SWBC Real Estate has sold The Royalton at Kingwood, a 331-unit apartment community located on the northern outskirts of Houston. The property, which was completed in September 2020 and is located adjacent to a new H-E-B grocery store, offers one-, two- and three-bedroom units. Amenities include a pool, clubhouse, fitness center, dog park and outdoor grilling stations. Ryan Epstein, Jennifer Ray and Scott Bray of Walker & Dunlop brokered the deal on behalf of SWBC. The buyer was CAF Capital Partners.

November 15, 2021

Development Hospitality Texas

3D Development, Midas Open 123-Room Element by Westin Hotel in Metro Dallas

by Taylor Williams November 15, 2021

RICHARDSON, TEXAS — A joint venture between 3D Development, which has offices in Georgia, Texas and Tennessee, and St. Louis-based hotel investment and management firm Midas has opened a 123-rom Element by Westin hotel in the northeastern Dallas suburb of Richardson. The four-story hotel, which is located within a 5.2-acre mixed-use development, features suites with fully equipped kitchens. Gray Design Group served as the project architect, and MW Builders was the general contractor. Commerce Bank provided construction financing.

November 15, 2021

Loans Multifamily Texas

Ready Capital Closes $33.2M Acquisition Loan for Uptown Dallas Multifamily Property

by Taylor Williams November 15, 2021

DALLAS — New York City-based Ready Capital has closed a $33.2 million loan for the acquisition, renovation and stabilization of an unnamed 179-unit multifamily property in Uptown Dallas. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term, two extension options and a facility for funding future capital improvements. The undisclosed sponsor plans to implement a value-add program.

November 15, 2021

Leasing Activity Office Texas

Worldwide Express Signs 24,480 SF Office Headquarters Lease at The Stack in Dallas

by Taylor Williams November 15, 2021

DALLAS — Third-party logistics company Worldwide Express has signed a 24,480-square-foot office headquarters lease at The Stack, a 16-story office building that recently opened in the Deep Ellum area of Dallas. The Stack features a fitness center, coffee/cocktail lounge and an amenity terrace with views of the Dallas skyline. Transwestern represented the tenant in the negotiations for the 10-year lease. Altschuler & Co. represented the landlord, a partnership between Westdale Real Estate Investment & Management, Ivanhoe Cambridge and Hines.

November 15, 2021

Development Multifamily Texas

AHS Residential to Develop 576-Unit Multifamily Community in West Houston

by Taylor Williams November 12, 2021

HOUSTON — Florida-based AHS Residential will develop a 576-unit multifamily community within Ten Oaks, an 83-acre master-planned development located within the Energy Corridor in West Houston. AHS Residential’s in-house architecture team is designing the project, which will consist of three 12-story buildings on a 6.6-acre site that will house one-, two- and three-bedroom units. Amenities will include a pool, fitness center and a resident clubhouse. Construction is expected to begin in April. Wolff Cos. is the master developer of Ten Oaks that sold the land to AHS Residential.

November 12, 2021

Development Multifamily Seniors Housing Texas

Cadence McShane Breaks Ground on 121-Unit Seniors Housing Community in Dallas

by Taylor Williams November 12, 2021

DALLAS — General contractor Cadence McShane has broken ground on a 121-unit seniors housing community located in the Highland Park area of Dallas. Developed by Anthology Senior Living and designed by PRDG, the 11-story, 130,000-square-foot building will consist of 24 memory care units and 97 assisted living units. Amenities will include a salon, theater, fitness center, library, a pub with a fireplace and elevated terraces. Completion is slated for June 2023.

November 12, 2021

Industrial Leasing Activity Texas

Hercules Inc. Signs 111,062 SF Industrial Lease in Northwest Houston

by Taylor Williams November 12, 2021

HOUSTON — Hercules Inc., an Alabama-based manufacturer of polyethylene products, has signed a 111,062-square-foot industrial lease in northwest Houston. The company will occupy roughly half the space at Park 8, a 242,760-square-foot distribution center owned by Avera Cos. and AEW Capital Management. Completed in April 2020, the cross-dock building features 36-foot clear heights, 130-foot truck court depths and an ESFR sprinkler system. Jim Autenreith and J.W. Wall III of Moody Rambin represented the tenant in the lease negotiations. Jason Dillee and Nathan Wynne of CBRE represented the landlord.

November 12, 2021

Acquisitions Industrial Texas

ML Realty Partners Buys 72,000 SF Industrial Building in Carrollton, Texas

by Taylor Williams November 12, 2021

CARROLLTON, TEXAS — Illinois-based investment and development firm ML Realty Partners has purchased a 72,000-square-foot industrial building located at 2520 Marsh Lane in the northern Dallas suburb of Carrollton. According to LoopNet Inc., the property was built in 1997 and offers 24-foot clear heights and 7,325 square feet of office space. Dan Spika of Henry S. Miller (HSM) Brokerage represented ML Realty Partners in the transaction. Jim Turano, also with HSM, represented the undisclosed seller.

November 12, 2021

Loans Multifamily Texas

Ready Capital Closes $3.2M Agency Acquisition Loan for North Austin Apartments

by Taylor Williams November 12, 2021

AUSTIN, TEXAS — New York City-based Ready Capital has closed a $3.2 million Freddie Mac loan for the acquisition, renovation and stabilization of a 32-unit apartment complex in North Austin. The nonrecourse, interest-only loan featured a floating interest rate, 24-month term, two extension options and a facility to fund future capital improvements. The name of the property and sponsor were not disclosed.

November 12, 2021

Development Industrial Texas

Stonemont Financial Breaks Ground on 485,680 SF Industrial Project in Fort Worth

by Taylor Williams November 11, 2021

FORT WORTH, TEXAS — Stonemont Financial Group has broken ground on DFW Point35, a 485,680-square-foot industrial project located less than three miles from the AllianceTexas master-planned community in Fort Worth. The development will consist of two rear-load warehouses totaling 218,400 and 267,280 square feet. Building features include 32-foot clear heights, ample car and trailer parking and contemporary office space. Completion is slated for summer 2022. Lee & Associates is marketing the property for lease.

November 11, 2021

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