Texas

Granite Properties to Undertake 623,624 SF Office Redevelopment Project in Uptown Dallas

by Taylor Williams June 29, 2020

DALLAS — Granite Properties will redevelop Cedar Maple Plaza, an office complex located at the corner of Cedar Springs Road and Maple Avenue in Uptown Dallas. Granite will rebrand the new 623,624-square-foot mixed-use office property as 23Springs. The locally based developer will demolish three existing buildings on the 2.5-acre site and build a 26-story office tower, two detached buildings that will house 16,000 square feet of restaurant space and a small park. Amenities at 23Springs will include a coffee and wine bar, fitness studio, conference facilities and a tenant lounge with a golf simulator. GFF is the project architect, and DPR is the general contractor. Granite has received all necessary permits and entitlements and expects to begin construction in the first quarter of 2021.

June 29, 2020

Development Hospitality Texas

Songy Highroads, Wampold Complete 335-Room Margaritaville Resort in Conroe, Texas

by Taylor Williams June 29, 2020

CONROE, TEXAS — A joint venture between Atlanta-based Songy Highroads and Louisiana-based Wampold Cos. has completed Margaritaville Lake Resort, a 335-room hotel located on Lake Conroe, about 40 miles north of Houston. The property is situated on 186 acres and is the first Texas resort of the Margaritaville brand, which features activities and amenities with themes from the music of Jimmy Buffett. The resort offers an 18-hole golf course, waterpark with outdoor pools, tennis courts, fitness center, full-service spa and 72,000 square feet of indoor and outdoor meeting space, as well as multiple Buffett-themed bars and restaurants. Guests may also enjoy swimming, boating, fishing and waterskiing lessons.

June 29, 2020

Affordable Housing Loans Multifamily Texas

KeyBank Provides $43.8M Freddie Mac Financing for Affordable Housing Project in Central Texas

by Taylor Williams June 29, 2020

SAN MARCOS, TEXAS — KeyBank Real Estate Capital has provided $43.8 million in Freddie Mac financing for Reserves at San Marcos, a 376-unit multifamily project in San Marcos, roughly midway between Austin and San Antonio. Approximately 80 percent of the units are reserved for renters earning up to 60 percent or less of the area median income. Units will feature one-, two- and three-bedroom floor plans ranging in size from 650 to 1,350 square feet. Robbie Lynn and Hector Zuniga of KeyBank originated the financing, which carries a fixed interest rate and a 36-month term. Construction is expected to be complete by 2022.

June 29, 2020

Acquisitions Multifamily Texas

IPA Negotiates Sale of 144-Unit Parkwood Terrace Apartments in Metro Austin

by Taylor Williams June 29, 2020

ROUND ROCK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Parkwood Terrace, a 144-unit multifamily community located in the northern Austin suburb of Round Rock. Built in 2000, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and resident clubhouse. Jordan Featherston, Will Balthrope, Drew Kile, Drew Garza and Kent Myers of IPA represented the seller, private investor James Pinheiro, in the transaction. Los Angeles-based investment firm Langdon Street Capital purchased the asset for an undisclosed price.

June 29, 2020

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 18,400 SF Industrial Complex in Arlington

by Taylor Williams June 29, 2020

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Crowley Business Park, an 18,400-square-foot industrial complex in Arlington. The property was built on 0.9 acres in 1980. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller, and procured the buyer, both of which were private investors that requested anonymity.

June 29, 2020

Texas

Texas Temporarily Pauses Additional Reopenings as COVID-19 Cases Rise

by Taylor Williams June 26, 2020

AUSTIN, TEXAS — Texas Gov. Greg Abbott announced on Thursday that the state would be pausing any further phases of reopening businesses following a recent increase in COVID-19 cases. Businesses that had been permitted to reopen under previous phases may continue to operate under previously established occupancy restrictions and social distancing guidelines. As part of this initiative, Gov. Abbott is also temporarily banning elective and nonessential surgeries to allow medical facilities the bandwidth to adjust to the rise in cases. The strongest uptick in new cases of late has been concentrated in Harris County, which has seen more than 1,300 new cases per day over the last three days. In addition, over the past weekend, the Texas Alcoholic Beverage Commission suspended the alcohol licenses of more than a dozen bars in Texas, including some in the Houston area, that were noncompliant with occupancy and social distancing mandates. As of Thursday, June 25, the Texas Department of Health and Human Services had identified approximately 132,000 cases of COVID-19 and 2,300 fatalities across the state.

June 26, 2020

Data Centers Development Industrial Texas

Equinix Completes $142M Expansion Project at Dallas Infomart Data Center

by Taylor Williams June 26, 2020

DALLAS — Equinix (NASDAQ: EQIX), a global provider of data colocation services, has completed a $142 million expansion project at its Dallas Infomart Data Center campus. The California-based company’s Dallas campus is located at 1950 N. Stemmons Freeways, spans roughly 1.6 million square feet and offers a power capacity of 60 megawatts. The project represents that first phase of a larger development and provides 72,000 square feet of colocation space for data storage. Future expansion phases may provide as much as 144,000 square feet of colocation space. Equinix purchased the property in 2018 from ASB Real Estate Investments for roughly $800 million.

June 26, 2020

Development Industrial Self-Storage Texas

Advantage, Forge Break Ground on 278-Unit Self-Storage Expansion Project in Corsicana, Texas

by Taylor Williams June 26, 2020

CORSICANA, TEXAS — Advantage Construction and Forge Building Co. have broken ground on a 278-unit expansion project at Mini-West Storage, a self-storage facility located in Corsicana, about 50 miles south of Dallas. The project will add 39,500 net rentable square feet of climate- and non-climate-controlled space to the facility, which originally opened in 1987 and now features approximately 700 units. Texas Community National Bank provided construction financing for the project, which is expected to be complete in December.

June 26, 2020

Northside-Independent-School-District-San-Antonio

Civic Development Texas

Adolfson & Peterson to Build $22.1M Civic Project for Northside ISD in San Antonio

by Taylor Williams June 26, 2020

SAN ANTONIO — General contractor Adolfson & Peterson Construction has been awarded the contract to build the Northside Independent School District’s Marshall Law and Medical Services Magnet High School in San Antonio, a project valued at $22.1 million. The project includes an 80,000-square-foot addition to the main high school, adding a new magnet school for law and medical services, new soccer and softball fields and a parking lot. In addition, the project will include renovations to the career and technology building and administration area. Completion is scheduled for November 2021. Pfluger Architects is designing the project.

June 26, 2020

Loans Multifamily Texas

Grandbridge Provides $9.3M Loan for Refinancing of Apartment Community in Tyler, Texas

by Taylor Williams June 26, 2020

TYLER, TEXAS — Grandbridge Real Estate Capital has provided a $9.3 million Freddie Mac loan for the refinancing of The Ashton, a 160-unit apartment community in Tyler, about 100 miles east of Dallas. The property was built in 1979 and offers one-, two- and three-bedroom units. Paul Harbor of Grandbridge originated the loan, which was structured with a fixed interest rate, 10-year term and 10 years of interest-only payments.

June 26, 2020

Newer Posts

Older Posts