AUSTIN, TEXAS — Dallas-based Stillwater Capital is underway on construction of Phase I of a 750-unit apartment project in Austin. The development will feature a mix of studio, one- and two-bedroom units averaging 830 square feet. Amenities will include a pool, fitness center, outdoor grilling area, resident lounges and a clubhouse. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia secured an overseas institutional family office as Stillwater Capital’s joint venture equity partner for the project.
ARLINGTON, TEXAS — Hunt Real Estate Capital has provided a $12 million Fannie Mae acquisition loan for Cedar Ridge, a 124-unit multifamily asset in Arlington. The property was built in 1980 on 7.8 acres and consists of 31 two-story buildings. The loan carries a 12-year term and two years of interest-only payments. The borrower and previous owner were not disclosed.
FRISCO, TEXAS — Developers Novare Group and Batson-Cook have opened SkyHouse Frisco Station, a 332-unit apartment community located within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. The property features a 25th-story amenity deck with a pool, outdoor kitchen, lounge seating and TVs. Additional amenities include a 24-hour fitness center, business center with a coffee bar and a conference room.
SAN ANTONIO — Locally based developer Koontz Corp. has sold Savannah Oaks Luxury Apartment Homes, a 332-unit multifamily property in San Antonio. Completed by Koontz in 2016, the property features one- and two-bedroom units that are equipped with hardwood-style flooring, granite countertops, stainless steel appliances, individual washers and dryers and private patios and garages. Amenities include a pool with a tanning ledge and outdoor kitchen, fitness center and a clubhouse. The buyer was Chicago-based Sherman Residential. Will Balthrope, Drew Garza and Jordan Featherston represented the seller and procured the buyer in the transaction.
RICHARDSON, TEXAS — Pavilion Properties, a holding company owned by Methodist Health System of Dallas, has acquired a 120,000-square-foot medical office building located at 3001 President George Bush Tollway in Richardson, a northeastern suburb of Dallas. Citadel Partners brokered the sale of the two-story building between Pavilion Properties and seller Pillar Commercial. The sales price was not disclosed.
FORT WORTH, TEXAS — FedEx Ground Packaging has signed a 110,880-square-foot industrial lease renewal at Crossroads 35/20, a distribution center in Fort Worth. According to the property website, Crossroads 35/20 spans 615,000 square feet and features 32-foot clear heights, 190-foot truck court depths, 35 trailer parking stalls and an ESFR sprinkler system. Donnie Rohde and Thomas Grafton of Holt Lunsford Commercial represented the landlord, Sealy Oak Grove LLC, in the lease negotiations.
CORPUS CHRISTI, TEXAS — Cravey Real Estate Services has brokered sale of Huntington Square, a 90,768-square-foot shopping center in Corpus Christi. Shadow-anchored by H-E-B, the center houses tenants such as Dollar Tree, Freedom Fitness, Edward Jones, Jason’s Deli and Pizza Hut. Lynann Pinkham of Cravey Real Estate represented the seller, Hunt Development Ltd., in the transaction. The brokerage firm also procured the buyer, LRIC Corpus Christi LP.
DALLAS — Glenstar Properties LLC has acquired Premier Place, a 457,000-square-foot office building located at 5910 North Central Expressway in Dallas. Built in 1985 and renovated in 2014, the 20-story, transit-oriented property offers proximity to Southern Methodist University, the Katy Trail and Dallas Love Field Airport. The building also houses a 62,000-square-foot Life Time Fitness. The seller and sales price were not disclosed.
MISSION AND MCALLEN, TEXAS — Laredo-based Killam Development Ltd. has purchased 3,400 acres in the Rio Grande Valley cities of Mission and McAllen for the development of a new master-planned community. In addition to residential, office and retail uses, the development will include walking trails, park space and connections to entertainment districts and education centers. Carlos Marquez and Brett Lum of NAI Partners represented the seller, Hunt Valley Development, in the land sale. Killam could begin construction early next year.
FRISCO, TEXAS — JLL has negotiated the sale of Little Elm Towne Crossing, a 150,0007-square-foot shopping center in Frisco. Hobby Lobby anchors the center, which was built in 2007 on 17.6 acres and had an occupancy rate of approximately 95 percent at the time of sale. Other tenants include 24 Hour Fitness, Hibbett Sports, Great Clips and Monarch Dental. Aaron Johnson, Barry Brown, Chris Gerard, Ryan Shore and Adam Roosien of JLL represented the seller, Dallas-based Dunhill Partners Inc., in the transaction. The buyer and sales price were undisclosed.