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AcquisitionsIndustrialTexas

JLL Negotiates Sale of 239,952 SF Industrial Property in Metro Austin

by Taylor Williams

PFLUGERVILLE, TEXAS — JLL has negotiated the sale of Pecan 130 Business Park, a 239,952-square-foot industrial property located in the northern Austin suburb of Pflugerville. Constructed between 2013 and 2014, the two-building property sits on 15.3 acres and was 85 percent leased to seven tenants at the time of sale. Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Wesley Gilmer and Josh Villarreal of JLL represented the seller, Birtcher Anderson & Davis, in the transaction. Dogwood Industrial Partners, an affiliate of San Francisco-based TPG Real Estate Partners, purchased the asset for an undisclosed price.

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LoansMultifamilyTexas

Dwight Capital Provides $34.3M Loan for Refinancing of Midland Apartment Complex

by Taylor Williams

MIDLAND, TEXAS — New York City-based Dwight Capital has provided a $34.3 million HUD-insured loan for the refinancing of Blue Ridge Apartment Homes, a 290-unit multifamily complex in Midland. Built in 2011, the property consists of 15 residential buildings and 16 ancillary buildings on a 15.5-acre site. Amenities include a business center, fitness center and a resident clubhouse. Brandon Baksh of Dwight Capital originated the financing. The borrower was not disclosed.

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Oakdell-Way-Townhomes-San-Antonio
DevelopmentMultifamilyTexas

REEP Equity to Renovate 100-Unit Multifamily Property in San Antonio

by Taylor Williams

SAN ANTONIO — Locally based owner-operator REEP Equity will renovate Oakdell Way Townhomes, a 100-unit multifamily community in San Antonio. Built in 1988, the property offers two- and three-bedroom units averaging 1,114 square feet. The capital improvement program will upgrade the units with stainless steel or black appliances, new faucets and countertops and fresh paint and flooring. Amenity spaces and common areas will also be upgraded. Mark Brandenburg, C.W. Sheehan and Cort Martin of JLL arranged financing for the renovations on behalf of REEP Equity.

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AcquisitionsMultifamilySeniors HousingTexas

SLIB Arranges $18M Sale of Active Adult Community in Granbury, Texas

by Taylor Williams

GRANBURY, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Residence at Legacy Park, an active adult community in Granbury, approximately 35 miles southwest of Fort Worth. Built in 2018, the community features 81 units and is restricted to residents age 55 or older. A local owner-operator looking to exit the industry sold the asset to a national group headquartered in Utah for $18 million. Matthew Alley and Bradley Clousing of SLIB handled the transaction.  

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DevelopmentMultifamilySingle-Family RentalTexas

Taylor Morrison Home Corp. to Develop 140-Unit SFR Community in Metro Dallas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Taylor Morrison Home Corp. (NYSE: TMHC) will develop Christopher Todd Communities at Dechman, a 140-unit single-family rental (SFR) community in the central metroplex city of Grand Prairie. The property will be situated on 15.9 acres and will offer one- and two-bedroom residences that will range in size from approximately 750 to 1,050 square feet. Communal amenities will include a pool, fitness center and a dog park. Christopher Todd Communities is providing design and management services for the project. Construction is set to begin in the coming weeks.

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AcquisitionsRetailTexas

BH Properties Buys 361,780 SF Preston Shepard Place Shopping Center in Metro Dallas

by Taylor Williams

PLANO, TEXAS — Los Angeles-based investment firm BH Properties has purchased Preston Shepard Place, a 361,780-square-foot shopping center in Plano. Originally built in 1995, the property houses tenants such as Marshalls, Burlington and Tuesday Morning. The 31-acre Shepard Preston Place was 55 percent leased at the time of sale. The seller and sales price were not disclosed.

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AcquisitionsIndustrialSelf-StorageTexas

Colliers Arranges Sale of 599-Unit Allsafe Self-Storage Facility in Metro Dallas

by Taylor Williams

CEDAR HILL, TEXAS — Colliers International has arranged the sale of Allsafe Self Storage, a 599-unit facility in Cedar Hill, a southern suburb of Dallas. The 85,550-square-foot property was built in 2000 and expanded in 2011. Kyle Newswanger of Colliers represented the seller, a private developer and investor, in the transaction. Newswanger also secured the buyer, an out-of-state private investor.

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AcquisitionsMultifamilyTexas

Worth Street Partners Acquires 108-Unit Stone Manor Apartments in Dallas

by Taylor Williams

DALLAS — Dallas-based Worth Street Partners has acquired Stone Manor, a 108-unit apartment complex in the Bachman Lake area of Dallas. The property was built in 1964 and offers one- and two-bedroom units as well as a pool. An entity doing business as Gomel Texas LLC sold the Class C property for an undisclosed price. Mark Allen of Greystone brokered the deal. The new ownership plans to implement a capital improvement program at Stone Manor, which was 90 percent occupied at the time of sale.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 61-Room Comfort Inn & Suites Hotel in Metro Houston

by Taylor Williams

HUMBLE, TEXAS — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites IAH Bush Airport East, a 61-room hotel located in the northern Houston suburb of Humble. Andrew Frosch, Louis Dan, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

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Leasing ActivityOfficeTexas

Interior Logic Group Signs 17,681 SF Office Lease in Frisco, Texas

by Taylor Williams

FRISCO, TEXAS — Interior Logic Group, a provider of interior design and finish solutions for the building industry, has signed a 17,681-square-foot office lease at The Offices Three at Frisco Station, a 210,000-square-foot speculative office building located on the northern outskirts of Dallas. The newly built property is the third of five office buildings within the 242-acre Frisco Station mixed-use development. Amenities include a fitness center, conference center and upgraded tenant lounge.

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