Texas

Presidium Opens 354-Unit Edison Apartments Near Downtown Austin

by Taylor Williams February 24, 2020

AUSTIN, TEXAS — Presidium, an investment and development firm with offices in Dallas and Austin, has completed Edison Apartments, a 354-unit multifamily community located in the East Riverside Corridor near downtown Austin. Units at the property feature hardwood floors, vaulted ceilings and private balconies and patios. Amenities include a pool, fitness center, resident clubhouse, rooftop lounge, outdoor grilling stations and two parking garages totaling 468 spaces. Page Southerland Page served as the project architect, and Cadence McShane was the design-build firm.

February 24, 2020

Acquisitions Industrial Texas

CBRE Negotiates Sale of 213,370 SF Hanson Industrial Portfolio in El Paso

by Taylor Williams February 24, 2020

EL PASO, TEXAS — CBRE has negotiated the sale of the Hanson portfolio, a collection of three industrial buildings totaling 213,370 square feet in El Paso. The sale included 35 acres of developable land. Arturo De la Mora of CBRE represented the seller, private investor Russell Hanson, in the transaction. The buyer was a partnership between Massachusetts-based Equity Industrial Partners and New York City-based Raith Capital Partners.

February 24, 2020

Acquisitions Multifamily Texas

NorthMarq Arranges Sale of 240-Unit Jordan Creek Apartments in Arlington

by Taylor Williams February 24, 2020

ARLINGTON, TEXAS — NorthMarq has arranged the sale of Jordan Creek Apartments, a 240-unit multifamily community in Arlington. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, sports court, fitness center and outdoor grilling and picnic area. Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the seller, 2505 Burney Oaks Lane LLC, in the transaction. The team also procured the buyer, multifamily investment firm Ashland Greene Capital Partners.

February 24, 2020

Leasing Activity Retail Texas

Sprouts to Open 28,000 SF Grocery Store in Mesquite, Texas

by Taylor Williams February 24, 2020

MESQUITE, TEXAS — Sprouts Farmers Market will open a 28,000-square-foot grocery store at 1220 N. Town East Blvd. in Mesquite, an eastern suburb of Dallas, on March 4. Phoenix-based Sprouts is known for its fresh produce, expansive bulk foods section and an extensive vitamin department. The company currently operates more than 300 stores across 20 states.

February 24, 2020

Finance Insight Midwest Multifamily Northeast Southeast Texas Thought Leadership Video Walker & Dunlop Western

What Does Walker & Dunlop’s New Venture Mean for Multifamily Lending?

by Sarah Daniels February 24, 2020

Walker & Dunlop has entered into a joint venture with commercial real estate data science company GeoPhy to optimize the multifamily valuation process. The new appraisal company is called Apprise, and its goal is a five-day appraisal to accelerate the delivery of capital to real estate operators, Walker & Dunlop’s clients among them. Brad Savage, MAI, CCIM, Chief Product Officer of Apprise, discusses the marriage of data and human expertise in Apprise’s approach to commercial valuation. Apprise’s proprietary platform acts as a co-pilot for its appraisers, making sense of complex datasets and streamlining manual processes. By producing more credible reports in less time, Apprise allows clients to make quicker, more informed investment decisions. Watch the interview to learn how the program works and what it means for the industry.

February 24, 2020

Acquisitions Industrial Texas

CBRE Negotiates Sale of 1.7 MSF Industrial Portfolio in El Paso, Santa Teresa

by Taylor Williams February 21, 2020

EL PASO, TEXAS AND SANTA TERESA, NEW MEXICO — CBRE has negotiated the sale of the IDI Logistics portfolio, a collection of 20 buildings totaling approximately 1.7 million square feet in El Paso and Santa Teresa, New Mexico. Seventeen of the buildings are located in El Paso and three are located in Santa Teresa. The portfolio was 96.4 percent occupied at the time of sale. William Caparis, Andres Sandoval and Jonathan Bryan of CBRE represented Atlanta-based IDI Logistics in the transaction. The buyer was a partnership between Massachusetts-based Equity Industrial Partners and New York City-based Raith Capital Partners.

February 21, 2020

Acquisitions Multifamily Texas

CONTI Acquires 268-Unit Hillside Creek Apartments Near Downtown Austin

by Taylor Williams February 21, 2020

AUSTIN, TEXAS — CONTI Organization, a privately held multifamily owner-operator, has purchased Hillside Creek Apartments, a 268-unit community located about three miles south of downtown Austin. Built on eight acres in 1981, the garden-style complex offers amenities such as a pool, fitness center, a dog park, onsite laundry facilities and shuttle service to the University of Texas at Austin. The acquisition is CONTI’s first in Austin and 42nd in Texas. The seller was not disclosed.

February 21, 2020

Industrial Leasing Activity Texas

Allied Stone Signs 226,000 SF Industrial Lease at Eagle Park 20/35 in Metro Dallas

by Taylor Williams February 21, 2020

DESOTO, TEXAS — Allied Stone Inc., a provider of quartz, granite and marble countertops, has signed a 226,000-square-foot industrial lease at Eagle Park 20/35 in the southern Dallas suburb of DeSoto. The building spans 454,408 square feet, is situated off Interstate 35 and features a cross-dock configuration with 32-foot clear heights. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Ridgeline Property Group, in the lease negotiations.

February 21, 2020

Loans Multifamily Texas

JLL Arranges Loan for Refinancing of 144-Unit Apartment Community in Dallas

by Taylor Williams February 21, 2020

DALLAS — JLL has arranged a Freddie Mac loan of an undisclosed amount for the refinancing of Central Park Apartments, a 144-unit multifamily community located in the Vickery Meadow neighborhood of Dallas. The property was built in 1977 and features one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse, a business center and onsite laundry facilities. Mark Brandenburg and Chad Russell of JLL arranged the loan, which carries a 10-year term and a fixed interest rate on behalf of the borrower, Frontline Holdings. The Beverly Hills-based private equity firm acquired the asset in 2016 and implemented capital improvements.

February 21, 2020

Acquisitions Retail Texas

Gaines Real Estate Brokers Sale of 82,000 SF Western Hills Plaza Shopping Center in Fort Worth

by Taylor Williams February 21, 2020

FORT WORTH, TEXAS — Gaines Real Estate Co. has brokered the sale of Western Hills Plaza Shopping Center, an 82,000-square-foot retail asset in Fort Worth. American Freight anchors the property, which also houses tenants such as Sonic, Taco Casa, Jackson Hewitt Tax Service and Ultimate Physique. Andrew Gaines and Hank Gaines of Gaines Real Estate represented the seller, a Dallas-based partnership, and procured the buyer, a California-based investor. Both parties requested anonymity.

February 21, 2020

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