KILLEEN, TEXAS — Stellar Bank has provided an undisclosed amount of acquisition financing for a 44,494-square-foot shopping center in the Central Texas city of Killeen. Built in 2017 and shadow-anchored by grocer H-E-B, West Killeen Market was 74 percent leased at the time of the loan closing to tenants such as Cricket Wireless, Great Clips, The Joint, Venetian Nails & Spa, Lone Star Dental and Papa John’s. Clint Coe, Chad Lisbeth and Charlie Mossy of JLL arranged the four-year loan on behalf of the borrower, Brownlee Waggoner Holdings LLC. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, an Austin-based developer, in the transaction and procured the buyer.
MCKINNEY, TEXAS — Milhaus, an Indianapolis-based multifamily owner-operator, has broken ground on Atheria at West Grove, a 389-unit multifamily project that will be located north of Dallas in McKinney. The site is located within the 52-acre West Grove master-planned development, and the property will offer one-, two- and three-bedroom apartments with covered balconies/patios. Atheria at West Grove will also feature two-bedroom townhomes with garages. Amenities will include a pool, clubhouse with a golf simulator, covered outdoor kitchen, grilling areas, a pet spa, office workspaces, a billiards and media room, indoor/outdoor fitness center and a one-acre park with pickleball courts, a dog park and an events lawn. Project partners include HEDK Architects, SJL Design Group, Studio Outside, Strategic Construction and engineering firm Winkelmann & Associates. InterBank is financing construction of the project. Leasing is slated to begin next spring.
HOUSTON — Stream Realty Partners has broken ground on a 384,509-square-foot industrial project that will be located near the intersection of the Sam Houston Tollway and State Highway 288 in South Houston. Known as Kirby District, the two-building development will consist of a 117,247-square-foot rear-load structure with 32-foot clear heights and a 267,262-square-foot cross-dock structure with 36-foot clear heights. Other building features will include a combined total of 101 dock-high doors and six ramps. Ware Malcomb is the project architect, and E.E. Reed Construction is serving as the general contractor. Halff is the civil engineer, and Stream is also the leasing agent. Completion is slated for the first quarter of next year.
TOMBALL, TEXAS — BMC Capital has arranged a $24 million bridge loan for Bridgewater Apartments, a multifamily property in Tomball, a northeastern suburb of Houston. According to Apartments.com, the property was built in 1978 and offers 206 units in one- and two-bedroom units, as well as a pool, business center, dog park and a picnic area. Grant Garlock and Noah Laredo of BMC Capital placed the two-year, interest-only loan through an undisclosed life insurance company. The borrower was also not disclosed.
HOUSTON — Partners Real Estate has brokered the sale of Spring Park Village, a 43,060-square-foot shopping center in North Houston. According to LoopNet Inc., the center was built in 2015 and is home to tenants such as McAlister’s Deli, Adriatic Café, Spring Park Dentistry and J’s CBD + Vape Smoke Shop. Marc Peeler and Cobo Fajardo of Partners represented the buyer in the transaction. Additional terms of sale were not disclosed.
MARBLE FALLS, TEXAS — Adolfson & Peterson Construction is underway on a 10,500-square-foot healthcare project in the downtown area of Marble Falls, about 50 miles northwest of Austin. Designed by Seaux-Pierce Architecture, the two-building project is a build-to-suit for Heritage Oaks Dental Office and will include a 1,300-square-foot of oral surgery space. Completion is slated for the fall.
LADERA RANCH, CALIF. — California-based SmartStop Self Storage REIT (NYSE: SMA) has purchased a portfolio of five facilities totaling approximately 3,800 units in the greater Houston area. The portfolio totals roughly 420,000 net rentable square feet. The properties are located at 2412 W. Holcombe Blvd. on the city’s west side; 21836 Holzwarth Road in the northern suburb of Spring; 9040 Louetta Road in Spring; 32620 FM 2978 in the northwestern suburb of Magnolia; and 18250 I-45 S. in Shenandoah, about 35 miles north of downtown Houston. The seller was not formally named, but the press release identified Kathy and Scott Tautenhahn of Amazing Spaces Storage Centers as the developers of the portfolio. The release also credited Aaron Swerdlin of Newmark as instrumental to the transaction.
GRAPEVINE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Carter, a 276-unit apartment complex in Grapevine, located in the northern-central part of the metroplex. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 1,000 square feet and amenities such as a pool, fitness center, pet park, wine lounge, wellness center, package lockers and a rooftop terrace. Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and Shelby Clark of IPA represented the seller, Integrated Real Estate Group, in the transaction. The team also procured the buyer, Rockport Equity.
HOUSTON — JLL has brokered the sale of Reserve at Westchase, a 194,919-square-foot office building in West Houston. Built in 1999, the four-story building has undergone significant renovations in recent years and offers amenities such as a tenant lounge and conference center. Kevin McConn led the JLL team that represented the seller, Transwestern Investment Group, in the transaction. Michael Johnson and Michael King, also with JLL, arranged acquisition financing through an undisclosed insurance company on behalf of the buyer, DML Capital. The building was 76 percent leased at the time of sale.
HOUSTON — BeFitNow Canada Inc., a wholesaler of exercise machines, has signed a 17,646-square-foot industrial lease in North Houston. The space is located within Vantage Parkway Business Park, which according to LoopNet Inc. consists of 10 buildings on a 15-acre site. Jason Gibbons, Chase Tucker and Tyler Holt of local brokerage firm Finial Group represented the undisclosed landlord in the lease negotiations. The tenant representative was not disclosed.