SHERMAN AND DENISON, TEXAS — Greystone has provided $15.4 million in bridge-to-agency financing for a portfolio of three multifamily properties totaling 189 units in North Texas. One of the properties is located in Sherman, and the other two are located in Denison. All were built in the 1960s and 1970s. The interest-only loan carries a two-year term with two six-month extension options. Lance Wright of Greystone originated the financing on behalf of the borrower, an undisclosed, Texas-based family office. Duke Stone of Churchill Capital acted as correspondent on the deal.
BAYTOWN, TEXAS — Total Specialty Services, a provider of infrastructural services to industrial project sites, has signed a 13,000-square-foot industrial lease in the eastern Houston suburb of Baytown. Austen Buckalew of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Tyler Maner and Davis Lamberton of Stream Realty Partners represented the landlord.
MELISSA, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., is underway on construction of a 133-unit build-to-rent residential project in Melissa, located north of Dallas in Collin County. Designed by UD Architects and known as Highland, the development will offer one-, two- and three-bedroom homes ranging in size from 780 to 1,500 square feet. Amenities will include a pool, fitness center, coworking space, an outdoor kitchen and a dog park. Rents will start at $2,100 per month for a one-bedroom home. Completion is slated for late 2025.
DALLAS — Global marketing company PMG has unveiled its new 75,000-square-foot office headquarters in Uptown Dallas. The company, which is relocating from The Centrum, has leased three upper-level floors of The Link at Uptown, a newly constructed, 300,000-square-foot building by Kaizen Development Partners. The space can support about 300 people and includes an internal interconnected staircase. As the anchor tenant, PMG also has top-of-building signage.
ALVIN, TEXAS — Murdoch’s Ranch & Home Supply, a provider of outdoor apparel and agricultural equipment, will open a 55,000-square-foot store at 2500 S. Bypass 35 in Alvin, about 30 miles south of Houston. Culbertson Contractors is constructing the store from the ground up after buying the 12.6-acre site. Alex Makris and Patrick Keegan of Partners Real Estate represented the seller, East Bay Partners Ltd., in the disposition of the land. Danny Elliott and Thomas Tyng of CBRE represented Culberson Contractors.
MAGNOLIA, TEXAS — Locally based brokerage firm Oxford Partners has negotiated a 12,000-square-foot industrial lease renewal in Magnolia, a northwestern suburb of Houston. According to LoopNet Inc., the building at 327 Magnolia Business Park Drive was built in 2003 and spans 17,145 square feet. Jeffery Arnaud of Oxford Partners represented the tenant, J2 Fabrication, in the lease negotiations. The landlord was not disclosed.
FORT WORTH, TEXAS — Construction equipment supplier Buyers Barricades has signed a 7,200-square-foot industrial lease renewal at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s east side. William Wilson and George Jennings with Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant was not disclosed.
ARLINGTON, TEXAS — Loews Hotels & Co. has opened the Loews Arlington Hotel & Convention Center, a $550 million development located in between AT&T Stadium and Globe Life Field in the city’s Entertainment District. Loews developed the 888-room hotel and adjoining 266,000-square-foot convention center in a public-private partnership with the City of Arlington, the Texas Rangers baseball team and The Cordish Cos., a Baltimore-based owner-operator of entertainment venues. The 21-story hotel also connects to the 300-room Live! by Loews Arlington Hotel, which opened several years ago and offers an additional 300 rooms. The new hotel houses five food-and-beverage establishments and resort-style amenities such as two pools, a spa and salon, water slide and a man-made sandy beach. HKS served as the project architect, and Looney & Associates handled the interior design. JE Dunn served as the general contractor.
HOUSTON — Dallas-based investment firm Sealy & Co. has acquired The Great 290 Distribution Center, a newly built, 500,840-square-foot industrial property located near the intersection of The Grand Parkway and I-290 in northwest Houston. Designed by Powers Brown Architecture and developed by Pagewood, The Great 290 Distribution Center occupies 41 acres within a 64-acre site, allowing tenants additional space for outdoor trailer parking or materials storage. The property was fully leased at the time of sale to HVAC systems provider Daikin Comfort Technologies. Trent Agnew and Charlie Strauss of JLL represented Pagewood in the transaction. Sealy & Co. was self-represented.
LEANDER, TEXAS — Locally based firm Freehill Development Co. has broken ground on Hero Way West, a 227,200-square-foot industrial project in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings that will range in size from 24,500 to 129,000 square feet. The buildings will feature 28-foot clear heights and will be situated on a 16.8-acre site. JLL arranged construction financing and joint venture equity for the project, and Transwestern has been appointed as the leasing agent. Construction is expected to last about 12 months.