HOUSTON — Chicago-based investment firm Dayton Street Partners has acquired a 500,000-square-foot logistics property in northeast Houston that features a 333-door truck terminal and a 33-bay maintenance facility. The property is situated on 90 acres at 5800 Mesa Drive, just south of Interstate 610 and less than 10 miles from Port Houston. Dayton Street Partners will undertake a multimillion-dollar renovation of the terminal and the development of 25 acres for secured trailer parking. The undisclosed seller was a private investor.
HOUSTON — Younan Properties Inc., a Los Angeles-based subsidiary of global private equity firm Younan Co., has acquired Two Westlake Park, a 455,000-square-foot office building located in Houston’s Energy Corridor. The building was constructed on 5.4 acres in 1982 and is situated within Westlake Park, an office development that spans more than 2.8 million square feet across 58 acres. Dan Miller and Marty Hogan of JLL represented the seller, PIMCO, in the transaction. Younan Properties was self-represented.
HASLET, TEXAS — Bellomy & Co. has brokered the sale of Life Storage, a 623-unit self-storage facility in Haslet, located approximately 16 miles from downtown Fort Worth. The property spans 78,950 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited partnership, in the transaction. The duo also procured the buyer, New York-based Angelo Gordon Real Estate Inc.
RICHARDSON, TEXAS —3D Development Partners, which has offices in Georgia, Tennessee and Texas, will build a 123-room hotel in the northeastern Dallas suburb of Richardson that will be operated under the Element by Westin brand. The hotel’s suites will feature full kitchens and spa-inspired bathrooms. Amenities will include a fitness center, pool and bike rental program. 3D Development is partnering with Missouri-based management firm Midas Hospitality on the project, which is expected to open this summer.
AUSTIN, TEXAS — Dallas-based Muskin Commercial has arranged the sale of The Arts Apartments at Turtle Creek, a 95-unit multifamily complex located just south of downtown Austin. The property is situated on 5.3 acres and features one- and two-bedroom floor plans. Amenities include a pool, dog park and multiple art installations. Muskin Commercial represented the undisclosed, Dallas-based seller in the transaction. Locally based investment firm Narrow Road Group purchased the complex for an undisclosed price and will implement a value-add program that includes rebranding the property as Arroyo Apartments.
SPRING, TEXAS — Multifamily development and management firm Fein has opened Canopy at Springwoods Village, a 332-unit apartment community located within the $10 billion Springwoods Village mixed-use development in the northern Houston suburb of Spring. Designed by Steinberg Dickey Collaborative and built by Westchase Construction, the property offers one-, two- and three-bedroom units ranging in size from 552 to 1,705 square feet. Units are furnished with wood-style flooring, stone countertops, tile backsplashes, stainless steel appliances and individual washers and dryers. Amenities include a clubhouse with billiards and ping pong tables, a fitness center with yoga and spin studios, golf simulator room, library, conference room and a pool with sun shelves and cabanas. Residents also have access to a 1.5-acre lake with surrounding walking trails. Rents start at roughly $1,000 per month for a one-bedroom unit.
DALLAS — Convexity Properties has begun leasing Eastline Residences, a 28-story multifamily tower located at 6050 N. Central Expressway in the Park Cities neighborhood of Dallas. Units come in studio, one-, two- and three-bedroom floor plans and feature 10-foot ceilings and private balconies. Amenities include a rooftop pool with tanning ledges and cabanas, a sky lounge with seating areas and event spaces, a fitness center with indoor and outdoor yoga decks and 15,000 square feet of ground-floor retail space. Chicago-based Convexity delivered the 330-unit community in 2020, and move-ins are scheduled to begin in February. Information on starting rents was not disclosed.
SOUTHLAKE, TEXAS — Florida-based investment firm Driftwood Capital has acquired Hilton Dallas Southlake Town Square, a 248-room hotel located near DFW International Airport in Southlake. Built in 2007, the five-story hotel offers amenities such as an outdoor pool, fitness center, an onsite restaurant and 18,000 square feet of meeting and event space. The new ownership plans to invest $5 million in capital improvements over the next 12 months.
DALLAS — Newmark has brokered the sale of Veridian Place, a 228-unit apartment community located at 4849 Haverwood Lane in North Dallas. Built in 1984 and renovated in 2016, the garden-style property features one- and two-bedroom units with individual washers and dryers and private patios or balconies. Amenities include a pool with cabanas, outdoor grilling areas, a 24-hour fitness center and a dog park. Brian Murphy and Brian O’Boyle Jr. of Newmark represented the seller, Florida-based American Landmark, in the transaction. Matthew Mense, Henry Stimler, Bill Weber and Osman Baig of Newmark arranged Fannie Mae acquisition financing on behalf of the locally based buyer, Orion Multifamily Investments LLC.
MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of Texan Mobile Home Park, a 280-site manufactured housing property in the Rio Grande Valley city of McAllen. The community spans 880,783 square feet. Jeff Taylor and Will Shealy of Marcus & Millichap represented the seller, a partnership, in the transaction. The duo also procured the buyer, a limited liability company. Additional terms of sale were not disclosed.