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Atlantic-McKinney
LoansMultifamilyTexas

Atlantic Pacific Cos. Receives $112.4M Agency Refinancing for Three DFW Multifamily Properties

by Taylor Williams

MIAMI — An affiliate of Miami-based investment firm Atlantic Pacific Cos. has received Freddie Mac loans totaling $112.4 million for the refinancing of a trio of multifamily properties in the Dallas-Fort Worth (DFW) metroplex. The financing consists of a $40 million loan for Atlantic Stonebriar, a 294-unit property located in the northern Dallas suburb of The Colony; $42.3 million in debt for Atlantic McKinney, a 343-unit community that is also located on the northern outskirts of Dallas; and a $30.2 million loan for Atlantic Station, a 324-unit development in Fort Worth. Atlantic Pacific closed the loans in conjunction with fresh debt for four other properties, three of which are located in the Atlanta area and the fourth of which is located in Cary, N.C. The seven new mortgage loans are structured with five-year terms and fixed interest rates averaging approximately 5.1 percent.

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Lakeside-Campus-Richardson
AcquisitionsOfficeTexas

Newmark Brokers Sale of 807,354 SF Office Property in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has brokered the sale of Lakeside Campus, a two-building, 807,354-square-foot office property located in the northeastern Dallas suburb of Richardson. The 18-acre property comprises a 16-story and four-story office buildings, as well as a structured parking deck and a landscaped pond with walking trails. Real estate data and analytics firm RealPage anchors the campus, which was 69 percent leased at the time of sale, and the overall tenant roster carries a weighted average remaining lease term of about four years. Chris Murphy, Robert Hill, Gary Carr and Stephen Schwalb of Newmark represented the seller, Trigild, in the transaction. The buyer was Provident Realty Advisors.

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AcquisitionsMultifamilyTexas

AvalonBay Buys 126-Unit Multifamily Property in Bee Cave, Texas

by Taylor Williams

BEE CAVE, TEXAS — AvalonBay Communities (NYSE: AVB), a Virginia-based REIT, has purchased Brisa Townhomes, a 126-unit multifamily property located on the western outskirts of Austin in Bee Cave. Built in 2022, Brisa Townhomes offers three- and four-bedroom residences with direct-access, two-car garages. Amenities include a pool, fitness center, conference room and outdoor grilling and dining stations. Patton Jones and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. The new ownership has rebranded the property as Avalon Townhomes at Bee Cave.

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Leasing ActivityOfficeTexas

Buckner International Signs 20,100 SF Office Lease at Lakeside Square in North Dallas

by Taylor Williams

DALLAS — Buckner International has signed a 20,100-square-foot office lease at Lakeside Square in North Dallas. The nonprofit organization plans to relocate from Plaza of the Americas in downtown Dallas to the 409,544-square-foot building in the second quarter of 2025. Tyler Howarth and John Armes of Holt Lunsford Commercial represented the tenant in the lease negotiations. Trevor Franke, Gini Rounsaville and Hudson Neuhoff of JLL represented the landlord, Acram Group.

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Leasing ActivityRestaurantRetailTexas

Rice Real Estate Welcomes Three New Tenants to Namesake Shopping Center in Houston

by Taylor Williams

HOUSTON — Rice Real Estate Co., the property investment arm of Rice University, has welcomed three new tenants to Rice Village, a 300,000-square-foot shopping, dining and entertainment destination located southwest of downtown Houston. The new tenants are New Orleans-based eyewear brand KREWE (941 square feet), boys’ boutique apparel retailer ParkerJoe (1,975 square feet) and Jeni’s Splendid Ice Creams (1,603 square feet). KREWE will open in early December, and ParkerJoe and Jeni’s will open in early 2025.

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AcquisitionsOfficeTexas

Newmark Brokers Sale of Three Metro Dallas Office Buildings Totaling 304,099 SF

by Taylor Williams

CARROLLTON, TEXAS — Newmark has brokered the sale of three office buildings totaling 304,099 square feet in the northern Dallas metro of Carrollton. The buildings are numbered 8, 9 and 10 within International Business Park, a 300-acre mixed-use development that includes retail and multifamily components. Chris Murphy, Robert Hill and Gary Carr of Newmark represented the seller, locally based developer Billingsley Co., in the transaction. The buyer was undisclosed. The campuswide occupancy rate at International Business Park was 79 percent at the time of sale.

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The-Riley-Burleson
AcquisitionsMultifamilyTexas

NewStreet, Thane Partners Acquire 178-Unit Riley Apartments in Burleson, Texas

by Taylor Williams

BURLESON, TEXAS — A joint venture between NewStreet Properties LLC and Thane Partners has acquired The Riley, a 178-unit apartment complex in Burleson, approximately 16 miles south of Fort Worth. Completed in 2023, The Riley offers one-, two- and three-bedroom units and amenities such as a pool, dog spa and park, fitness center, wine bar, rideshare pick-up lounge, game area with shuffleboard and a clubhouse with an activity center and coworking offices. Grant Raymond and Asher Hall of Cushman & Wakefield represented the seller, Corsair Ventures, in the transaction. The sales price was not disclosed.

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AcquisitionsLoansRetailTexas

Marcus & Millichap Arranges Sale, Financing of 90,327 SF Shopping Center in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has arranged the sale and financing of Providence Plaza, a 90,327-square-foot shopping center in Houston. Built on 7.7 acres in 1984 on the city’s southwest side and renovated in 2018, the property was 97 percent occupied at the time of sale. Tenants at the center include Dollar Tree and Spec’s Wines, Spirits & Foods. Alex Wolansky and Gus Lagos of Marcus & Millichap represented the seller, Whitestone REIT, in the transaction. Additionally, Jamie Safier of Marcus & Millichap Capital Corp. (MMCC) originated an undisclosed amount of acquisition financing on behalf of the unnamed buyer.

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Knox-Street-Dallas
Leasing ActivityOfficeTexas

Paul Hastings LLP Preleases 37,000 SF of Office Space at Knox Street Development in Dallas

by Taylor Williams

DALLAS — Global law firm Paul Hastings LLP has preleased 37,000 square feet of office space at a 1 million-square-foot mixed-use development that is under construction in the Knox Street area of Dallas. The development’s 150,000 square feet of office space is now fully preleased ahead of its 2026 completion date, with ISN Software Corp. committed as the anchor tenant. Clay Hammerstein, Harlan Davis, Ken Rapp, Morgan Griffith and Phil Pucket of CBRE represented the tenant in the lease negotiations. Trey Smith, Alexandra Cullins and Ben Davis, also with CBRE, represented the landlord, a joint venture that includes Trammell Crow Co. and MSD Partners.

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Leasing ActivityOfficeTexas

Audacy Signs 24,000 SF Office Lease at Lakeside Square in North Dallas

by Taylor Williams

DALLAS — Audacy, a Pennsylvania-based entertainment and media holding company, has signed a 24,000-square-foot office lease at Lakeside Square in North Dallas. The 409,544-square-foot building is located at the intersection of North Central Expressway and the LBJ Freeway. The new space includes recording equipment and sound studios. Deme Mekras and Travis Boothe of Cushman & Wakefield represented Audacy in the lease negotiations. Trevor Franke, Gini Rounsaville and Hudson Neuhoff of JLL represented the landlord, Acram Group.

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