Texas

Colliers Provides $9.8M Fannie Mae Acquisition Loan for Multifamily Asset in San Angelo, Texas

by Taylor Williams October 15, 2020

SAN ANGELO, TEXAS — Colliers Mortgage has provided a $9.8 million Fannie Mae acquisition loan for Arroyo Square, a 182-unit multifamily asset in San Angelo, located roughly midway between Austin and Lubbock. Built in 1977, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, picnic area and tennis and basketball courts. Colliers originated the loan, which carried a 10-year term and a 30-year amortization scheduled through a partnership with Old Capital Lending on behalf of the borrower, Arroyo Square LLC.

October 15, 2020

Leasing Activity Retail Texas

Kids Empire Opens at 1 MSF Firewheel Town Center in Metro Dallas

by Taylor Williams October 15, 2020

GARLAND, TEXAS — Kids Empire, which provides secure indoor playgrounds for children, has joined the tenant roster at the 1 million-square-foot Firewheel Town Center in the northeastern Dallas suburb of Garland. Kids Empire now occupies 11,703 square feet at the open-air mall, which is owned by Simon Property Group and anchored by Macy’s, Dillard’s, AMC Theatres, Dick’s Sporting Goods and others. Robin Barrow of Weitzman, along with Stephan Ktorza and Shelby Dopps of Kidder Matthews, represented the tenant in the lease negotiations.

October 15, 2020

Company News Office Texas

Reports: Pabst Blue Ribbon to Relocate Headquarters to Downtown San Antonio

by Taylor Williams October 14, 2020

SAN ANTONIO — California-based beer brewer Pabst Blue Ribbon (PBR) will relocate its corporate headquarters from Los Angeles to downtown San Antonio, according to multiple news sources including CultureMap San Antonio and the San Antonio Business Journal. According to the former publication, PBR was headquartered in San Antonio between 1996 and 2006 and still maintains an office there. Local cable news outlet WOAI reports that PBR currently has about 60 employees in San Antonio and plans to grow its workforce to more than 115 employees in the coming months. PBR owns several different brands, Old Milwaukee, Rainier and National Bohemian.

October 14, 2020

Development Multifamily Texas

Thompson Realty, Trez Capital Break Ground on 350-Unit Dalton Apartments in Metro Austin

by Taylor Williams October 14, 2020

PFLUGERVILLE, TEXAS — A partnership between Thompson Realty Capital and Trez Capital has broken ground on The Dalton, a 350-unit apartment community in the northern Austin metro of Pflugerville. The property will be situated on 21 acres and will offer one-, two- and three-bedroom apartments with quartz or granite countertops and stainless steel appliances. Amenities will include a pool, courtyard, communal kitchen spaces, a social bar, fitness center, independent study rooms, a dog park and outdoor walking trails. The Dalton is the partnership’s fourth project and is expected to be complete in 2021. Texas Capital Bank provided construction financing.

October 14, 2020

Development Multifamily Texas

KWA Construction Completes 246-Unit Axiom Hub 121 Multifamily Project in McKinney, Texas

by Taylor Williams October 14, 2020

MCKINNEY, TEXAS — General contractor KWA Construction has completed Axiom Hub 121, a 246-unit multifamily project located in the northern Dallas suburb of McKinney. Designed by Domus Studio Group and developed by Seneca Investments, the property spans 340,000 square feet within the Craig Ranch master-planned development. Axiom Hub 121 offers one- and two-bedroom units that are furnished with stainless steel appliances, granite countertops, built-in workspaces and individual washers and dryers. Amenities include a pool with a tanning ledge, car wash facility, a sports lounge with a coffee bar, 24-hour fitness center, bocce ball court, Amazon package lockers and coworking space. Rents start at approximately $1,150 per month for a one-bedroom unit.

October 14, 2020

Loans Multifamily Texas

CBRE Provides $20M Freddie Mac Loan for Refinancing of Vintage Apartments in Houston

by Taylor Williams October 14, 2020

HOUSTON — CBRE has provided a $20 million Freddie Mac bridge loan for the refinancing of Vintage Apartments, a 292-unit multifamily community located in the Brookhollow neighborhood of Houston. The 10-year, floating-rate loan is the first to be purchased by Freddie Mac that is indexed by the Secured Overnight Financing Rate (SOFR), the new benchmark rate that lenders use to price loans and the replacement of the London Interbank Offered Rate (LIBOR). According to Apartments.com, Vintage Apartments was built in 1972 and offers studio, one-, two- and three-bedroom units, as well as a pool, playground, outdoor grilling area and onsite laundry facilities. The borrower was not disclosed.

October 14, 2020

Leasing Activity Office Texas

Heritage Title Signs 20,459 SF Office Lease at Indeed Tower in Downtown Austin

by Taylor Williams October 14, 2020

AUSTIN, TEXAS — Heritage Title Co. of Austin Inc., which provides title insurance and settlement services, has preleased 20,459 square feet of office space at Indeed Tower, a 36-story development nearing completion at 200 W. Sixth St. in downtown Austin. The developer, a partnership between Trammell Crow and Principal Real Estate Investors, broke ground on the 673,000-square-foot tower, formerly known as Block 71, in October 2017. The partnership expects to compete construction during the first half of next year. Troy Holme, Casey Ford and Katie Ekstrom of CBRE represented ownership in the lease negotiations, while Derek Lewis and Todd Gilfillan of Lincoln Property Co. represented the tenant.

October 14, 2020

Acquisitions Industrial Texas

Dalfen Industrial Acquires 1 MSF Mark IV Commerce Center in Fort Worth

by Taylor Williams October 13, 2020

FORT WORTH, TEXAS — Dalfen Industrial has acquired Mark IV Commerce Center, a 1 million-square-foot industrial property located near Interstates 35 and 820 in the Alliance area of Fort Worth. The newly built, Class A development consists of three buildings in front-load and cross-dock configurations and ESFR sprinkler systems. AER Manufacturing recently signed an 80,660-square-foot lease to become the development’s inaugural tenant. The Dallas Business Journal reports that the seller was Crow Holdings Industrial.

October 13, 2020

Company News Multifamily Texas

Hines Launches Multifamily Property Management Service Willowick Residential

by Taylor Williams October 13, 2020

HOUSTON — Hines has launched Willowick Residential, the Houston-based real estate giant’s new multifamily property management service. Named after founder Gerald D. Hines’ first residential development in Houston’s River Oaks area, Willowick Residential currently has nine properties in its portfolio. Hines, which has offered some sort of property management services since its inception in 1957, has a multifamily portfolio of 63 properties across 38 U.S. cities.

October 13, 2020

Industrial Leasing Activity Texas

APL Logistics Signs 121,400 SF Industrial Lease Near DFW Airport in Irving

by Taylor Williams October 13, 2020

IRVING, TEXAS — APL Logistics Warehouse Management Services, a third-party logistics firm based in Singapore, has signed a 121,400-square-foot industrial lease at Passport Logistics Center, located near DFW International Airport in Irving. Blake Kendrick, Sarah Ozanne and Charles Brewer of Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Mohr Partners represented the tenant.

October 13, 2020

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