DALLAS — Xenia Hotels & Resorts (NYSE: XHR) has sold the 545-room Fairmont Dallas hotel for $111 million. The sales price equates to approximately $204,000 per room and represents a cap rate of 10 percent. The pet-friendly hotel, which opened in 1969, is located at 1717 N. Akard St. in the downtown area and offers both traditional guestrooms and suites. Amenities include a pool, meeting and event space and multiple onsite food-and-beverage options. The buyer was not disclosed. Xenia acquired the property in 2011 for $69 million.
HOUSTON — Local investment firm Braun Enterprises has purchased 3040 Post Oak, a 426,000-square-foot office building in Houston’s Galleria district. The building is situated adjacent to the Galleria Mall and offers amenities such as a tenant lounge and grab-and-go market. Braun plans to implement a capital improvement program that will include the addition of a modern fitness center, a new coffee bar and comprehensive lobby and exterior upgrades. Stream Realty Partners leases and manages the building. The sales price was not disclosed.
AUSTIN, TEXAS — Texas-based developer Presidium has begun leasing Presidium 183, a 374-unit multifamily project located near The Domain in North Austin. Designed by O’Brien Architects, Presidium 183 offers several different floor plans, and units are furnished with stainless steel appliances, quartz-style countertops and individual washers and dryers. Amenities include a coworking lounge with private offices, fitness center with yoga and spin studios, a speakeasy-style bar, entertainment room with a theater and golf simulator, outdoor game lawn, pool and a dog run. Construction began in late 2023. Rents start at roughly $1,320 per month for a studio apartment.
EL PASO, TEXAS — Hunter Hotel Advisors, an Atlanta-based brokerage firm, has arranged the sale of the 111-room Home2 Suites by Hilton El Paso Airport hotel. The hotel is located less than two miles from El Paso International Airport and offers amenities such as a pool, fitness center and complimentary breakfast. Kami Burnette of Hunter Hotel Advisors represented the undisclosed seller in the transaction. The buyer was San Diego-based owner-operator Pacific Pearl Hotels.
ADDISON, TEXAS — Holt Lunsford Commercial has negotiated a 21,000-square-foot office lease renewal in the northern Dallas metro of Addison. The tenant is Foundation Energy Management LLC, and the space is located within Liberty Plaza II. Chase Stone and Hayden Parker of Holt Lunsford represented the landlord, Massachusetts-based Franklin Street Properties, in the lease negotiations. Mary Stoner Yost of Colliers represented the tenant.
DALLAS — De La Vega Development is nearing completion of Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway in Dallas. Phase I of the project features a central communal park known as The Pavilions at The Central that can also support retail and restaurant uses. Designed in collaboration with local architecture firms GFF and Bud Creative, The Pavilions features four interconnected structures with outdoor seating that are surrounded by various biophilic elements and spaces that promote communal gathering. In addition, the space is located across from The Oliver, a 19-story apartment building that developer StreetLights Residential recently began leasing. Full completion of the park and pavilions is slated for the summer.
HOUSTON — Locally based developer Fein has broken ground on Echo Lake, a 326-unit apartment community that will be located in North Houston. The site spans 21.4 acres within the CityPlace mixed-use development, and the property is named after the 1.2-acre lake and trail system that will serve as a focal point of the project. Designed by Steinberg Dickey Collaborative and financed by Comerica Bank, Echo Lake will have two- and three-story buildings that will house one-, two- and three-bedroom units and Class A amenities. About 40 percent of units will be townhouse-style residences with attached garages. Fein is developing Echo Lake in partnership with Open House Group, an equity investment that was arranged by John Fenoglio of CBRE. The first units are expected to be available for occupancy in the second quarter of 2026, with full completion slated for mid-2027.
BAYTOWN, TEXAS — JLL has brokered the sale of Blackline Cold Storage, a 297,640-square-foot facility located in the eastern Houston suburb of Baytown. Built in 2022 within the Cedar Port Industrial Park master-planned development, the facility features 45-foot clear heights, 22 dock doors, over 36,000 pallet positions and an ESFR sprinkler system. Trent Agnew, Will Mogk, Keenan Ryan and Clay Anderson of JLL represented the undisclosed seller in the transaction. The buyer was Atlanta-based cold storage owner-operator Americold Realty Trust.
DALLAS — Leon Industrial, a division of locally based development and investment firm Leon Capital Group, has begun construction on a 118,178-square-foot project near Dallas-Fort Worth (DFW) International Airport. The facility will be known as 161 Airport Center and will feature 32-foot clear heights, 130-foot truck court depths, an ESFR sprinkler system, up to 28 trailer parking spaces and additional outside storage space. Stream Realty Partners is the leasing agent. Completion is slated for late this summer.
FORT WORTH, TEXAS — Greysteel has arranged the sale of Candle Chase Apartments, a 116-unit apartment complex in southwest Fort Worth that was built in 1969. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 715 to 1,198 square feet. Doug Banerjee and Sterling Warren of Greysteel represented the seller, Epic Capital Partners, in the transaction. The buyer, an entity doing business as Delara Chase LLC, has rebranded the property as Delara Chase Apartments.