SPRING, TEXAS — San Antonio-based Headwall Investments has purchased Shops on Gosling, a 34,613-square-foot shopping center located in the northern Houston suburb of Spring. Built in 2019, the center is home to tenants such as Shipley Do-Nuts, Tune Up Salon, Capital Title, Fajita Pete’s and Center Court Pizza & Brew. Chace Henke and Micha van Marcke of Edge Capital Markets represented the undisclosed seller in the transaction. Dillon Hurley of Argali CRE represented Headwall Investments.
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Innovative Design Can Promote Positive Outcomes for Continuum of Care Residents
As the demand for senior living communities continues to rise, so does the complexity of designing environments that meet the evolving needs of residents across the entire continuum of care. Facilities that seek to cater to independent living, assisted living, memory care, skilled nursing and rehabilitation needs must strike a balance: fulfilling stringent functional and regulatory requirements while remaining inviting, promoting connection to nature and others and offering comfort for people of all ages and abilities. The biggest challenge, according to designers and seniors housing experts alike, is “seamlessly weaving protective elements, like perimeter security or grade changes, into a design that feels warm and inclusive, not institutional,” explains Adam Alexander, director of planning, landscape architecture and design at Bohler, a land development design and consulting firm. “Features like fences or bollards don’t need to be emphasized as one-note safety features. They should be invisible contributors to a resident’s experience of comfort and care.” An overall trend toward smaller sites for seniors housing means that continuum of care communities are innovators in inclusive and multi-purpose space use. They may also serve to address increasing calls for solutions to the loneliness epidemic ongoing in the lives of many adults. While less square …
RICHARDSON, TEXAS — Hunt Development Group has begun leasing Caroline Eastside, a 384-unit apartment community located in the northeastern Dallas suburb of Richardson. Caroline Eastside features studio, one-, two- and three-bedroom apartments with an average size of 812 square feet. Amenities include a two-level fitness center with a yoga room; resort-style pool with an indoor pool house; a game lawn; coworking spaces; a dog park with washing facilities; a rooftop deck with a coffee bar; and access to walking trails and open green spaces. Rents start at approximately $1,500 per month for a studio apartment.
DALLAS — Nuveen Green Capital and Lone Star PACE have provided $9 million in C-PACE financing for Cityscape Star Apartments, a 116-unit multifamily complex in the Cedars neighborhood of Dallas. The newly constructed building offers one- and two-bedroom units and amenities such as a fitness center, business center, dog run and a rooftop lounge. The name of the borrower was not disclosed. C-PACE allows property owners to access low-cost, long-term financing for energy and water conservation systems at commercial buildings.
HOUSTON — JLL has negotiated the sale of Woodlake Plaza, a 106,310-square-foot office building located at 2600 S.Gessner Road in the Westchase area of West Houston. The six-story building was originally constructed on a 3.5-acre site in 1974 and includes a break room and a conference room, as well as parking for 292 vehicles. Marty Hogan led the JLL team that represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
DALLAS — Seattle-based lender Avatar Financial Group has funded a $3.1 million bridge loan for a Texaco-branded gas station and convenience store located at 3924 W. Red Bird Lane in southwest Dallas. The loan carries a two-year term, an 11.5 percent initial interest rate and a 65 percent loan-to-value ratio. The undisclosed sponsor will use proceeds to leverage equity from the asset in order to purchase another service station. The borrower plans to refinance Avatar’s loan once the new site is stabilized and producing income.
HOUSTON — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility in northeast Houston. The 2.9-acre facility at 7470 Miller Road 2 features 20,980 square feet of warehouse space and was originally built in 2002, according to LoopNet Inc. Jack Zalta of KSR NY brokered the deal. The seller and sales price were not disclosed.
DALLAS AND VANCOUVER — City Office REIT (NYSE: CIO), a Canadian company focused on the acquisition, ownership and operation of office properties in Sun Belt markets in the United States, has entered into a merger agreement valued at $1.1 billion. Under the terms of the agreement, MCME Carell Holdings LP and MCME Carell Holdings LLC — collectively a joint venture between South Florida-based firms Elliott Investment Management LP and Morning Calm Management LLC — will acquire all issued and outstanding shares of City Office REIT common stock for $7 per share in cash. The company’s stock price closed on Tuesday, July 23 at $5.56 per share, roughly the same as a year ago. City Office REIT’s current portfolio comprises 54 office buildings totaling roughly 5.4 million square feet of net rentable space in the Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa markets. The company’s U.S. headquarters is located in Dallas. Terms of the merger agreement include the sale of City Office’s Phoenix portfolio. Upon close, City Office will become a private company and its shares will no longer trade on the New York Stock Exchange. “After conducting an extensive process to explore potential strategic alternatives, we …
ARLINGTON, TEXAS — Dallas-based StreetLights Residential has broken ground on Phase III of Viridian, a multifamily project in Arlington that will add 410 units to the local supply. Apartments will feature studio, one- and two-bedroom floor plans, and this phase will also include 68 townhomes. The amenity package will comprise a central pool courtyard; fitness center with outdoor exercise space; a coworking lounge with private work suites; an outdoor event space with grilling and dining stations; and a clubhouse with a billiards room and card lounge. StreetLights Creative Studio is the architect of record for the project, and SLR Construction LLC is the general contractor. Both companies are affiliates of the owner. A tentative completion date was not announced. StreetLights completed The Louise, a 343-unit development that marked Phase II of Viridian, in late 2022. Phase I, a 340-unit community known as The Jackson, opened in early 2021.
KATY, TEXAS — JLL has provided an undisclosed amount of Freddie Mac financing for The Reserve on Kingsland, a 382-unit apartment community in the western Houston suburb of Katy. Built in 2020 and formerly known as Lenox Reserve, the property features 11 three-story buildings with one-, two- and three-bedroom units that have an average size of 882 square feet. Amenities include pools, a fitness center, package lockers, a dog park, business center, demonstration kitchen and a game room. Andy Scott, Michael Cosby, Bo Beidleman, Blake Morrison and Aaron Craig of JLL originated the seven-year, fixed-rate loan on behalf of the owner, Price Realty Corp.