Texas

Bridgeview to Renovate 204,461 SF Office Tower in Dallas

by Taylor Williams May 9, 2019

DALLAS — Bridgeview Real Estate, a privately held developer and owner-operator will implement a multimillion-dollar renovation plan at LBJ Tower, a 10-story, 204,461-square-foot office tower in Dallas. Bridgeview, with help from Stream Realty Partners, will redesign the building’s lobby to feature modern finishes and lounge space, as well as add a 75-person meeting space and a fitness center. The renovation project, which is meant to elevate the building’s appeal to relocating corporate firms, is expected to be complete by the fourth quarter.

May 9, 2019

Loans Retail Texas

JLL Arranges $10.5M Loan for Refinancing of Retail Center in Lubbock

by Taylor Williams May 9, 2019

LUBBOCK, TEXAS — JLL has arranged a $10.5 million loan for the refinancing of Rockridge Plaza, an 86,500-square-foot retail center located in the West Texas city of Lubbock. The property was 95 percent leased at the time of sale to a mix of national retailers and local businesses. Jimmy Board and Wes Wallace of JLL arranged the fixed-rate, nonrecourse loan through Deutsche Bank on behalf of the borrower, Graco Real Estate Development.

May 9, 2019

Acquisitions Healthcare Texas

NAI Robert Lynn Buys 22,654 SF Medical Office Building in Dallas

by Taylor Williams May 9, 2019

DALLAS — RLI, the investment division of NAI Robert Lynn, has purchased a 22,654-square-foot medical office building located at 9500 N. Central Expressway in Dallas. The building currently houses DaVita Central Dallas Dialysis, and RLI has a new long-term agreement with a national surgical company to anchor the building. RLI expects the new space to be operational in the first quarter of 2020. Nick Lee and Justin Utah of NAI Robert Lynn sourced the off-market building purchase and handled lease negotiations with the new tenant.

May 9, 2019

Loans Multifamily Seniors Housing Texas

Capital Funding Provides $18.5M Acquisition Financing for Skilled Nursing Portfolio in Texas

by Taylor Williams May 9, 2019

TEXAS — Capital Funding LLC has provided a total of $18.5 million in bridge-to-HUD financing for the acquisition of four skilled nursing facilities in Texas. The portfolio totals 491 beds. The borrower, seller(s) and names of the facilities were not disclosed. A third-part operator will manage the properties. Patrick McGovern of Capital Funding originated the deal.

May 9, 2019

Acquisitions Multifamily Texas

JLL Negotiates Sale of 341-Unit Apartment Community in East Dallas

by Taylor Williams May 8, 2019

DALLAS — JLL has negotiated the sale of Bristol Square, a 341-unit apartment community located at 1720 John West Road in east Dallas. The property offers one- and two-bedroom units with hardwood floors, walk-in closets, washers and dryers and balconies or patios. Amenities include a pool and onsite laundry facilities. Zar Haro, Moses Siller, Jorg Mast and David Fersing of JLL represented the seller, McGuire Family Properties, in the transaction. The buyer was Dallas-based WindMass Capital.

May 8, 2019

Loans Multifamily Texas

NXT Capital Provides $21M Acquisition Loan for New Houston Apartment Property

by Taylor Williams May 8, 2019

HOUSTON — Chicago-based NXT Capital has provided a $21 million loan for the acquisition of a newly built multifamily property in Houston. The Class A community features a pool, fitness center, business center, outdoor grilling stations, conference room and storage units. Greg Young and David Cortez of Grandbridge Real Estate Capital placed the loan through NXT Capital. The borrower and property name were not disclosed.

May 8, 2019

Loans Multifamily Texas

CBRE Arranges Acquisition Financing for 272-Bed Student Housing Asset in Austin

by Taylor Williams May 8, 2019

AUSTIN, TEXAS — CBRE has arranged an undisclosed amount of permanent financing for the acquisition of 21 Pearl, a 272-bed student housing community serving the University of Texas at Austin. The 135-unit property was completed in 2013 and was 96 percent occupied at the time of the loan closing. Benjamin Roelke and Ian Walker of CBRE arranged the financing on behalf of TEXLA Housing Partners and a private equity fund managed by Crow Holdings Capital. A life insurance company provided the loan, which features full-term interest-only payments along with a flexible prepayment structure. 21 Pearl is the joint venture’s first acquisition.

May 8, 2019

Acquisitions Healthcare Texas

Perimeter Healthcare Acquires Two Behavioral Hospitals Totaling 232 Beds in Metroplex

by Taylor Williams May 8, 2019

DALLAS AND ARLINGTON, TEXAS — Perimeter Healthcare, a behavioral healthcare company backed by Ridgemont Equity Partners, has acquired two 116-bed inpatient psychiatric hospitals located in the Dallas-Fort Worth (DFW) metroplex. The facilities will reopen in 2019 as Perimeter Behavioral Hospital of Dallas and Perimeter Behavioral Hospital of Arlington. This transaction marks Perimeter’s third acquisition in the past seven months. The seller was not disclosed.

May 8, 2019

Industrial Leasing Activity Texas

Holt Lunsford Secures 30,833 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams May 8, 2019

GARLAND, TEXAS — Dallas-based Holt Lunsford Commercial has secured a 30,833-square-foot industrial lease renewal at 2450-2462 Merrit Drive in Garland, a northeastern suburb of Dallas. Josh Barnes and Ben Wallace of Holt Lunsford represented the landlord, Taurus Investment Holdings. Shirley Laymance of CBRE represented the tenant, Carrier Enterprise LLC.

May 8, 2019

Development Mixed-Use Texas

Seritage Breaks Ground on Redevelopment of Former Mall in North Dallas

by Taylor Williams May 7, 2019

DALLAS — Seritage Growth Properties (NYSE: SRG) has broken ground on Park Heritage, a mixed-use project located at the intersection of the LBJ Freeway and Preston Road in north Dallas that could ultimately span as much as 2 million square feet. Seritage is the master developer, and Dallas-based KDC currently plans to develop about 1.1 million square feet of Class A office space. Toll Brothers Apartment Living will construct the first phase of the project’s multifamily component, which calls for roughly 300 units. At full build-out, Park Heritage could span as much as 275,000 square feet of retail, restaurant and entertainment space, 660 to 800 multifamily units and up to 300 hotel rooms, as well as three acres of open space. Construction work will begin with the demolition of the former Sears building and automotive center, located at the site of the old Valley View mall, followed by investment in the surrounding infrastructure. Seritage was formed in 2015 to unlock the underlying real estate value of a portfolio acquired from Sears Holdings.

May 7, 2019

Newer Posts

Older Posts