Texas

Berkshire Property Holdings Buys Multifamily Portfolio in Metro Dallas for $56.8M

by Taylor Williams September 11, 2020

RICHARDSON, TEXAS — Orlando-based investment firm Berkshire Property Holdings has purchased a two-property multifamily portfolio totaling 568 units in the northeastern Dallas suburb of Richardson for $56.8 million. The Parks at Walnut is a 308-unit property that consists of 25 two-story residential buildings on a 12-acre site, and NinetyNine44 on Walnut is a 260-unit community that features one- and two-bedroom units across 27 buildings on a 10.4-acre site. Both properties offer amenities such as pools, outdoor grilling areas, playgrounds and resident clubhouses. William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns and Michael Ware of Berkadia represented Berkshire Property Holdings and the undisclosed seller in the transaction. A CBRE team led by Brian Eisendrath arranged a 10-year Freddie Mac acquisition loan on behalf of the new ownership.

September 11, 2020

Acquisitions Loans Office Texas

JLL Arranges Sale, Financing of 463,969 SF Chasewood Technology Park in Houston

by Taylor Williams September 11, 2020

HOUSTON — JLL has arranged the sale of Chasewood Technology Park, a 463,969-square-foot office campus in northwest Houston. The four-building campus spans 10.4 acres and was 93 percent leased at the time of sale to tenants in the energy, consulting, technology, architecture, healthcare and food services industries. Rick Goings and Ethan Goldberg of JLL represented the seller, The GenCap Group, and procured the buyer, Nitya Capital, in the sale. John Ream and Laura Sellingsloh of JLL arranged a $46 million acquisition loan through Morgan Stanley on behalf of Nitya Capital.

September 11, 2020

Acquisitions Multifamily Texas

29th Street Capital Acquires 308-Unit Live Oak Place Apartments Near San Antonio

by Taylor Williams September 11, 2020

LIVE OAK, TEXAS — 29th Street Capital (29SC) has acquired Live Oak Place Apartments, a 308-unit multifamily community located in the San Antonio suburb of Live Oak. Built in 1984, the property features studio, one- and two-bedroom units ranging in size from 408 to 857 square feet. Amenities include a pool, pet play area and onsite laundry facilities. 29SC will invest in capital improvements to the unit interiors, building exteriors and amenity spaces. The seller and sales price were not disclosed.

September 11, 2020

Development Office Texas

RPM xConstruction to Build 90,000 SF Office Headquarters at Craig Ranch in McKinney

by Taylor Williams September 11, 2020

MCKINNEY, TEXAS — RPM xConstruction LLC will build a 90,000-square-foot office building at McKinney Corporate Center at Craig Ranch, located north of Dallas, for its new office headquarters. Approximately 750 employees will work at the new building, which offers proximity to the Sam Rayburn Tollway and multiple retail and restaurant establishments. Construction is scheduled to begin early next year and to be complete in early 2022. Pross Design Group is the project architect.

September 11, 2020

Leasing Activity Retail Texas

Five Below Opens 9,600 SF Store at Brookhollow Marketplace in Houston

by Taylor Williams September 11, 2020

HOUSTON — Five Below has opened a 9,600-square-foot store at Brookhollow Marketplace, a 200,000-square-foot shopping and dining destination that is a redevelopment of the former ExxonMobil campus in Houston. The store will be Five Below’s 1,000th in the country. Fidelis Realty Partners is leading the redevelopment project, which features other retailers such as Ross Dress for Less, Michaels, Ulta Beauty, Burlington and T.J. Maxx

September 11, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 1,835-Unit Self-Storage Portfolio in East Texas

by Taylor Williams September 10, 2020

TYLER AND LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of four self-storage properties totaling 1,835 units across 20.8 acres in East Texas. Two of the properties are located in Tyler, and two are located in Longview, cities that are about 100 and 120 miles east of Dallas, respectively. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. The buyer was Colorado-based Spartan Investment Group.

September 10, 2020

Acquisitions Industrial Self-Storage Texas

Argus Brokers Sale of 101,000 SF Self-Storage Facility in Decatur, Texas

by Taylor Williams September 10, 2020

DECATUR, TEXAS — Denver-based Argus Self-Storage Advsiors has brokered the sale of a 101,000-square-foot self-storage facility in Decatur, located northwest of Fort Worth. The property was 76 percent occupied at the time of sale and consists of 30,000 square feet of self-storage space and 71,000 square feet of boat and RV storage space. Chad Snyder and Tyler Trahant of Argus represented the undisclosed seller in the transaction. The buyer was also not disclosed

September 10, 2020

Development Hospitality Texas

Provident Realty Advisors Opens 75-Room Extended Stay Hotel in Houston

by Taylor Williams September 10, 2020

HOUSTON — Dallas-based Provident Realty Advisors has opened the 75-room Extended Stay America-Houston-Kingwood hotel on the city’s north side. Guestrooms feature fully equipped kitchens with refrigerators and stovetops, as well as private workspaces. Amenities include a pool, fitness center and onsite laundry facilities.

September 10, 2020

Loans Multifamily Texas

Colliers Mortgage Provides $6.4M Fannie Mae Loan for Multifamily Acquisition in Sherman

by Taylor Williams September 10, 2020

SHERMAN, TEXAS — Colliers Mortgage has provided a $6.4 million Fannie Mae acquisition loan for Northridge Villas, a 101-unit multifamily asset located in the North Texas city of Sherman. The property was built in 1969 and renovated in 2019. Amenities include a pool, playground, pet park and onsite laundry facilities. Colliers originated the loan, which carried a 12-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, 3013 Northridge Villas LLC.

September 10, 2020

Leasing Activity Office Texas

NexBank Signs 27,733 SF Office Lease Extension at Chateau Plaza in Uptown Dallas

by Taylor Williams September 10, 2020

DALLAS — NexBank has signed a 27,733-square-foot office lease extension at Chateau Plaza, an 18-story office building located at 2515 McKinney Ave. in Uptown Dallas. Rhett Miller and Sara Terry of Stream Realty Partners represented the landlord, Chateau Plaza Holdings LP, in the lease negotiations. NexVest Realty Advisors represented the tenant.

September 10, 2020

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