Texas

Oldham Goodwin Opens 120-Unit Affordable Seniors Housing Community in College Station

by Taylor Williams July 21, 2020

COLLEGE STATION, TEXAS — Oldham Goodwin Group has opened The Huntington at College Station, a 120-unit affordable seniors housing community in Central Texas. The property spans five acres and offers proximity to Baylor Scott & White Medical Center and the newly developed Midtown City Center mixed-use destination, as well as Texas A&M University. Units at The Huntington feature Whirlpool appliances, vinyl flooring and individual washers and dryers. Amenities include a clubroom with a kitchen area, resident library, business center, arts and crafts room, fitness center, putting green, bocce and pickleball courts and access to walking trails. Construction began in June 2019.

July 21, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Brokers $7.4M Sale of Wood Memorial Nursing Home in Mineola, Texas

by Taylor Williams July 21, 2020

MINEOLA, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wood Memorial Nursing Home in Mineola, approximately midway between Dallas and Shreveport, La. An owner-operator based in Central Texas sold the property to a Texas-based regional owner-operator for $7.4 million. The skilled nursing facility was built in 1964 and features 115 total beds. Matthew Alley arranged the transaction for SLIB.

July 21, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 23,657 SF Flex Building in Mont Belvieu, Texas

by Taylor Williams July 21, 2020

MONT BELVIEU, TEXAS — Colliers International has arranged the sale of Midstream Business Park, a 23,657-square-foot flux building in Mont Belvieu, about 30 miles east of Houston. Judd Harrison and Jason Tangen of Colliers represented the seller, Bellwether Interest LLC, in the transaction. Hart Schleicher of Capital Real Estate Commercial represented the buyer, Kimberlee Partners LP. The property was fully leased at the time of sale.

July 21, 2020

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 8,346 SF Industrial Lease in Irving

by Taylor Williams July 21, 2020

IRVING, TEXAS — Holt Lunsford Commercial has negotiated an 8,346-square-foot industrial lease at 8080 Tristar Drive in Irving. According to LoopNet Inc., the property was built in 1980 and totals 137,237 square feet. Canon Shoults, Josh Barnes and Maddy Canty with Holt Lunsford Commercial represented the landlord, KFG Investments, in the lease negotiations. Elizabeth Jones with JLL represented the tenant, Progressive Healthcare Solutions LLC.

July 21, 2020

Development Multifamily Texas

High Street Residential Breaks Ground on 43-Story Apartment Tower in Downtown Houston

by Taylor Williams July 20, 2020

HOUSTON — High Street Residential, a subsidiary of Trammell Crow, has broken ground on a 43-story apartment tower that will be located at 808 Crawford St. in downtown Houston, adjacent to the 12-acre Discovery Green urban park. The property will house one-, two- and three-bedroom floor plans, as well as 16 two-story townhomes and four two-story penthouses for a total of 309 units. Residences will feature floor-to-ceiling windows, quartz countertops and custom cabinetry. Amenities will include a rooftop pool and lounge area, clubroom with a catering kitchen, business center with coworking space, fitness center and a yoga terrace, indoor pet spa and a complimentary coffee bar, as well as package and concierge services. Completion is slated for late 2022.

July 20, 2020

Development Multifamily Seniors Housing Texas

Investcor Completes Renovations of Historic Fairhaven Assisted Living Facility in Denton

by Taylor Williams July 20, 2020

DENTON, TEXAS — Investcor has completed the renovation of Fairhaven Assisted Living, a historic seniors housing building in Denton. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. Fairhaven was originally developed in the 1950s, but closed in 2007 and fell into disrepair. After teaming with New Haven Assisted Living and Memory Care, Investcor launched the renovation a year ago.

July 20, 2020

Company News Retail Texas

Younger Partners Launches New Division for Retail Acquisitions

by Taylor Williams July 20, 2020

DALLAS — Younger Partners, a Dallas-based full-service real estate firm, has launched a new division for the acquisition of retail properties throughout the metroplex. Micah Ashford, a 20-year industry veteran and former partner at retail investment and brokerage firm Dunhill Partners, will lead the new division. Younger Partners considers the creation of a retail acquisitions team to be a critical part of its long-term strategy and believes that opportunities to buy distressed assets and create value will present themselves in the aftermath of the COVID-19 pandemic.

July 20, 2020

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 64,400 SF Office Building in Irving

by Taylor Williams July 20, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of 1400 Corporate Drive, a 64,400-square-foot office building in Irving. The three-story, Class B property was built in 1983. Ron Hebert of Marcus & Millichap represented the seller an individual/personal trust, in the transaction. Hebert also procured the buyer, a private investor. Both parties requested anonymity.

July 20, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Negotiates Sale of 60-Bed Skilled Nursing Facility in Johnson City, Texas

by Taylor Williams July 20, 2020

JOHNSON CITY, TEXAS— Senior Living Investment Brokerage (SLIB) has negotiated the sale of LBJ Medical Center, a 60-bed skilled nursing facility in Johnson City, approximately 45 miles west of Austin. The property was built on 2.6 acres in 1989 and totals 16,045 square feet. A local owner-operator exiting the seniors housing industry sold the asset to a regional owner-operator based in Texas that will implement a capital improvements program. Matthew Alley of SLIB arranged the transaction.

July 20, 2020

California Company News Texas Top Stories Western

Chevron Agrees to Acquire Noble Energy for $5B in Oil Industry Merger

by Taylor Williams July 20, 2020

SAN RAMON, CALIF. — Chevron Corp. (NYSE: CVX) has agreed to acquire Houston-based exploration firm Noble Energy (NASDAQ: NBL) in an all-stock transaction valued at $5 billion, or $10.38 per share. Under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron common stock for each share of Noble Energy stock they own. Inclusive of debt, the deal carries a total enterprise value of $13 billion. The price represents a premium of roughly 12 percent on the weighted average of Noble Energy’s closing stock prices for the 10-day period ending July 17. Following the closing of the deal, which is expected to occur in the fourth quarter, Noble’s shareholders will own about 3 percent of the new entity. Executives at San Ramon, Calif.-based Chevron cited access to Noble’s assets in key domestic production sites like Colorado’s D-J Basin and Texas’ Permian Basin, as well as its international facilities in Israel and West Africa, as major incentives behind the acquisition. For example, Noble’s portfolio includes nearly 92,000 contiguous acres for drilling and exploration in the Permian Basin . In addition, in June, the company was awarded exploration rights to 800,000 acres of drillable land in the Western …

July 20, 2020

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