Texas

Aura-Avery-Ranch-Austin

AUSTIN, TEXAS — A partnership between two Dallas-based firms, Rosewood Property Co. and Trinsic Residential Group, will develop Aura Avery Ranch, a 339-unit apartment community that will be located on the north side of Austin. Designed by Davies Collaborative, the property will be built on 16.1 acres and will offer amenities such as a pool, fitness center, dog park and a resident clubhouse. The first units are expected to be available for lease by spring 2021, and full completion is slated for 2022.

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Presidium-Pecan-District-Pflugerville

PFLUGERVILLE, TEXAS — Texas-based developer Presidium has begun leasing Presidium The Pecan District, a 272-unit apartment community in the northern Austin suburb of Pflugerville. The property represents Phase I of the Texas-based developer’s Pecan District mixed-use project, a multi-phase project that will feature more residential units, office space and retail and restaurant space. Mark Odom Studios designed the apartment community, which features one- and two-bedroom units and amenities such as a pool, fitness center, coworking spaces, a game lounge and an outdoor kitchen. Full completion is scheduled for September.

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DALLAS — Hunt Real Estate Capital has provided an $11 million loan for the refinancing of Buckner Village Apartments, a 172-unit multifamily asset in Dallas. Built in 1972, Buckner Village Apartments is a garden-style workforce housing community that was approximately 98 percent occupied at the time of the loan closing. The loan carried a fixed interest rate and a 12-year term with two years of interest-only payments. Duke Stone of Churchill Capital placed the loan on behalf of the borrower, Texas-based JAG Acquisitions LLC.

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DALLAS — SkyView Advisors, a Tampa-based self-storage brokerage firm, has arranged the sale of a 908-unit Extra Space Storage facility located at 7701 Banner Drive in north Dallas. The property is situated on a 1.1-acre lot and spans 77,162 net rentable square feet. Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.

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DALLAS — Stream Realty Partners has brokered the sale of a 33,620-square-foot industrial building located at 10379 Plano Road in Dallas. According to LoopNet Inc., the single-tenant property was built on 2.3 acres in 2012 and features 24-foot clear heights. Ryan Wolcott and Adam Jones of Stream Realty Partners represented the buyer, Primos Unlimited LLC, in the transaction. Marshall Cooper of Cooper Commercial Inc. represented the seller, 10379 Plano Rd LLC.

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At-Home

PLANO, TEXAS — At Home, a home décor and furnishings retailer, posted net sales of $515 million in its fiscal second quarter, which ended on July 25, and is reportedly looking to expand its footprint. That figure represents a 42 percent year-over-year increase in comparable store sales. At Home CEO Lee Bird told CNBC on Friday that the company has been expanding its store count by about 20 percent per year over the last seven years, and that it could grow from its current 219 stores to as many as 600. Bird cited the Plano-based retailer’s emergence as an essential retailer and a one-stop shop for a broad range of home goods, as well as the growth of its omnichannel sales platform and the ability to social distance inside its large-format stores, as key drivers of its growth.

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The-Star-Houston

HOUSTON — PCCP has acquired a $99.3 million senior loan that is collateralized by The Star, a historic property in downtown Houston that was recently redeveloped into a 286-unit apartment complex with 26,442 square feet of ground-floor retail space. In conjunction with the purchase, PCCP has entered into a modified loan agreement with the original borrower, Dallas-based Provident Realty Advisors. The Star was originally constructed as the headquarters building for Texaco and was vacated in 1989. Provident Realty purchased the building in 2013 and completed its repositioning project in 2018.

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TOMBALL, TEXAS — JDR Cable Systems, a provider of underwater power cables for the energy business, has begun construction on a 65,000-square-foot office and industrial project in Tomball that will serve as the United Kingdom-based company’s new Houston area headquarters The facility will house a wide range of operations, including engineering and management for global projects, assembly of a variety of oilfield equipment and support for its offshore service business. Completion is slated for the first half of 2021.

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CYPRESS, TEXAS — Marcus & Millichap has brokered the sale of Creekside Storage, a 147-unit self-storage facility located at 14660 Spring Cypress Road in Cypress, a northwestern suburb of Houston. The facility spans 33,600 square feet of net rentable space. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. An El Paso-based limited liability company purchased the asset for an undisclosed price.

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HOUSTON — Locally based advertising agency Decode has signed a 13,000-square-foot office lease at M-K-T, a mixed-use development in The Heights neighborhood of Houston. Triten Real Estate Partners, Radom Capital and Long Wharf Capital are the co-developers of M-K-T. Bubba Harkins and Jenny Mueller of JLL represented the development team in the lease negotiations. Joe Rambin of Cushman & Wakefield represented the tenant. With the closing of this deal, the office component of the project is 50 percent preleased.

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