Texas

HS Development to Build 115-Unit Multifamily Project in Northwest Houston

by Taylor Williams April 25, 2019

HOUSTON — Local firm HS Development will build The Edge at Langham Creek, a 115-unit apartment project that will be located in northwest Houston. The property will offer convenient access to Interstate 10, the Energy Corridor and Texas Medical Center West Campus. Mark Crosswell and Eric Kline of Berkadia arranged approximately $1.8 million in preferred equity through MidHudson Capital to complete the $18 million capital stack for the project. Construction is underway and the developer expects to complete the project by May 2020.

April 25, 2019

Loans Office Texas

Money360 Closes $4.4M Bridge Loan for Refinancing of San Antonio Office Asset

by Taylor Williams April 25, 2019

SAN ANTONIO — California-based direct lender Money360 has closed a $4.4 million bridge loan for the refinancing of an undisclosed office property in San Antonio. The loan featured a 24-month term, a fixed interest rate of approximately 7.8 percent and a loan-to-value structure of 69.8 percent. The borrower was not disclosed.

April 25, 2019

Industrial Leasing Activity Texas

Plastics Distributor Signs 6,000 SF Industrial Lease in San Antonio

by Taylor Williams April 25, 2019

SAN ANTONIO — Harrington Industrial Plastics, one of the nation’s largest distributors of plastic products, has signed a 6,000-square-foot industrial lease at 4030 Naco-Perin Blvd. in northeast San Antonio. Roger Hill and Kyle Mueller of JLL represented the landlord, Aguja Holdings LLC, in the lease negotiations. The representative of the tenant was not disclosed.

April 25, 2019

Acquisitions Industrial Texas

Megger Acquires 127,720 SF Industrial Facility in Dallas

by Taylor Williams April 24, 2019

DALLAS — Megger, a global electronic test equipment manufacturer, has acquired a 127,720-square-foot industrial facility with office space that is located at 4545 W. Davis St. in Dallas. The acquisition of the stand-alone property, which was built in 2001, enables Megger to more than double its footprint in the market. Craig Jones and Caleb McCoy of JLL represented Megger in the acquisition, as well as in a second transaction in which the manufacturer sold its 60,000-square-foot facility located at 4271 Bronze Way in Dallas.

April 24, 2019

Development Multifamily Texas

Greystar Begins Leasing New Apartment Property in Fort Worth

by Taylor Williams April 24, 2019

FORT WORTH, TEXAS — Greystar has begun leasing Elan Crockett Row, a new apartment property located in the West Seventh neighborhood of Fort Worth. Greystar developed and manages the community, which offers amenities such as a pool, gaming lounge, dog park and a fitness center with a yoga studio. Units, rents for which start at $1,095 per month, feature granite countertops, built-in closet organizers and smart thermostats.

April 24, 2019

Development Office Oklahoma Texas

MCA Arranges $10.7M Construction Loan for Renovation of Tulsa Office Building

by Taylor Williams April 24, 2019

TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA), which also has an office in Denver, has arranged $10.7 million in construction financing for the renovation of Reunion Center, a 95,000-square-foot historic office building in downtown Tulsa. The borrower, Oklahoma-based Rose Rock Development Partners, plans to convert the 10-story building into a 79-unit residential property with 10,000 square feet of ground-floor retail space. The new community will offer a pool, outdoor grilling area and a rooftop terrace. Brandon Wilhite of MCA arranged the loan though CrossFirst Bank on behalf of Rose Rock, which will also receive $4.3 million in federal and state historic tax credits for the project.

April 24, 2019

Miller-Road-Business-Center-Garland-Texas

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 70,400 SF Industrial Lease in Metro Dallas

by Taylor Williams April 24, 2019

GARLAND, TEXAS — Dallas-based Holt Lunsford Commercial has negotiated a 70,400-square-foot industrial lease at Miller Road Business Center in Garland, a northeastern suburb of Dallas. According to commercialcafé.com, the Class A property was built in 2002 and totals 382,000 square feet. Josh Barnes and Ben Wallace of Holt Lunsford represented the landlord, Boston-based TA Realty. John Hendricks of CBRE represented the tenant, J&C Warehousing LLC.

April 24, 2019

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 136-Unit Apartment Community in Fort Worth

by Taylor Williams April 24, 2019

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Cobble Hill, a 136-unit multifamily community located at 6050 Oakland Hills Drive in Fort Worth. The property was built in 1983. Al Silva of Marcus & Millichap represented the seller, a Dallas-based partnership, in the transaction. Silva also procured the buyer, a Texas-based private investment firm that will implement a capital improvements program to the property’s unit interiors and amenity spaces.

April 24, 2019

Loans Multifamily Texas

NXT Capital Provides $61M Loan for Refinancing of Dallas Apartments

by Taylor Williams April 23, 2019

DALLAS — Chicago-based NXT Capital has provided a $61 million loan for the refinancing of an undisclosed, 400-unit multifamily property in Dallas. The community is located in the Dallas Design District and offers amenities such as two pools, a fitness center, resident lounge, business center, game room and bike storage. The borrower and specific loan terms were not disclosed.

April 23, 2019

Acquisitions Multifamily Seniors Housing Texas

Blueprint Arranges $282.5M Sale of Skilled Nursing Portfolio in Texas, Louisiana

by Taylor Williams April 23, 2019

TEXAS AND LOUISIANA — Blueprint Healthcare Real Estate Advisors has arranged the $282.5 million sale of 28 skilled nursing facilities in Texas and Louisiana. Blueprint represented the buyer, a joint venture between BlueMountain Capital Management, BM Eagle Holdings and Capital Funding Group. The seller was Sabra Health Care REIT Inc. Blueprint collaborated with the joint venture to find local operating partners and tenants for the portfolio of assets. Further details on the names and locations of the properties were not disclosed. KeyBank Real Estate Capital arranged acquisition financing for the deal.

April 23, 2019

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