Texas

GenCap Partners Sells 274-Unit Park at Rialto Apartment Community in San Antonio

by Taylor Williams August 5, 2020

SAN ANTONIO — Dallas-based GenCap Partners Inc. has sold Park at Rialto, a 274-unit apartment community that is situated on 9.3 acres in northwest San Antonio. GenCap Partners completed the property in 2018. Units feature one-, two- and three-bedroom floor plans with an average size of 882 square feet. Amenities include a pool, fitness center, business center and a resident clubhouse. Sean Sorrell of JLL represented GenCap Partners as the seller in transaction. C.W. Sheehan, Alastair Barnes and Scott Dickey of JLL originated an undisclosed amount of Freddie Mac fixed-rate acquisition financing for the buyer, Covenant Capital Group.

August 5, 2020

Acquisitions Multifamily Seniors Housing Texas

SLP Operations Acquires 118-Bed Skilled Nursing Facility in Orange, Texas

by Taylor Williams August 5, 2020

ORANGE, TEXAS — Skilled nursing owner-operator SLP Operations has acquired Pinehurst Nursing & Rehabilitation Center, a 118-bed facility in Orange, about 110 miles east of Houston. The facility also offers post-acute care, long-term care, respite care and memory care services. The seller and sales price were not disclosed.

August 5, 2020

Industrial Leasing Activity Texas

Freedom Forever Texas Signs 16,364 SF Industrial Lease in San Antonio

by Taylor Williams August 5, 2020

SAN ANTONIO — Solar energy company Freedom Forever Texas has signed a 16,364-square-foot industrial lease at 4940 Eisenhauer Road in San Antonio. John Grady of CBRE’s Phoenix office represented the tenant in the lease negotiations. Josh Aguilar of CBRE’s San Antonio office represented the landlord, Prologis.

August 5, 2020

Development Multifamily Texas

Rosewood, Trinsic Residential to Develop 339-Unit Aura Avery Ranch Apartments in Austin

by Taylor Williams August 4, 2020

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.

August 4, 2020

Development Multifamily Texas

Presidium Begins Leasing 272-Unit Apartment Community at Pecan District in Metro Austin

by Taylor Williams August 4, 2020

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.

August 4, 2020

Loans Multifamily Texas

Hunt Real Estate Capital Provides $11M Loan for Refinancing of Dallas Multifamily Asset

by Taylor Williams August 4, 2020

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.

August 4, 2020

Acquisitions Industrial Self-Storage Texas

SkyView Advisors Arranges Sale of 908-Unit Self-Storage Facility in North Dallas

by Taylor Williams August 4, 2020

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.

August 4, 2020

Acquisitions Industrial Texas

Stream Realty Brokers Sale of 33,620 SF Industrial Building in Dallas

by Taylor Williams August 4, 2020

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.

August 4, 2020

Company News Retail Texas

At Home Posts 42 Percent Sales Growth in Second Quarter, Eyes Store Expansions

by Taylor Williams August 3, 2020

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.

August 3, 2020

Acquisitions Loans Multifamily Texas

PCCP Acquires $99.3M Loan Secured by Star Apartment Complex in Downtown Houston

by Taylor Williams August 3, 2020

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.

August 3, 2020

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