Texas

Marcus & Millichap Brokers Sale of 265-Unit Apartment Complex in Fort Worth

by Taylor Williams August 14, 2019

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Manitoba, a 265-unit multifamily complex in Fort Worth. Built in 1971, the property offers amenities such as two pools, a playground, afterschool center and onsite laundry facilities. Al Silva of Marcus & Millichap represented the seller, a Dallas-based nonprofit that owned the asset for 18 years, in the transaction. Silva and Ford Braly, also with Marcus & Milichap, secured the buyer, a Dallas-based investment firm that will renovate the property’s exteriors, unit interiors and amenity spaces.

August 14, 2019

Loans Multifamily Texas

Dougherty Arranges Acquisition Financing for 253-Unit Multifamily Asset in Dallas

by Taylor Williams August 14, 2019

DALLAS — Minneapolis-based Dougherty Mortgage has arranged an undisclosed amount of acquisition financing for Sedona Ranch, a 253-unit multifamily asset in Dallas. The property features one-, two- and three-bedroom units and amenities such as a two pools, a picnic area and onsite laundry facilities. Dougherty arranged the loan, which carried a 12-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, 2749 Sedona Ranch LLC.

August 14, 2019

Development Hospitality Texas

Todd Interests Completes 226-Room Hotel Conversion Project in Houston

by Taylor Williams August 14, 2019

HOUSTON — Developer Todd Interests has completed a project in at 1314 Texas Ave. in Houston that converted the historic Great Southwest Building, a property that was built in 1926, into a 226-room Cambria Hotel. Amenities at the new property, which also houses ground-floor retail and restaurant space, include a fitness center, ballroom and meeting and event space. Merriman Anderson Architects handled design of the project, and Andres Construction served as the general contractor. Cambria is part of the Choice family of hotels, which includes Comfort Inn, Sleep Inn and Econo Lodge.

August 14, 2019

Acquisitions Multifamily Seniors Housing Texas

Blueprint Negotiates Sale of 33-Unit Memory Care Community in Dallas

by Taylor Williams August 14, 2019

DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 33-unit memory care community in the Turtle Creek neighborhood of Dallas. A publicly traded REIT sold the property, the name of which was not disclosed, to local owner-operator Iris Senior Living. Blueprint’s Ben Firestone and Joshua Salzman handled the transaction.

August 14, 2019

Development Retail Texas

NewQuest Properties to Develop 200,000 SF Retail Project in Metro Houston

by Taylor Williams August 13, 2019

RICHMOND, TEXAS — Houston-based NewQuest Properties will break ground in the coming weeks of the first phase of Grand at Aliana, a 200,000-square-foot retail project in Richmond, a southwestern suburb of Houston. The property is preleased to an array of national tenants, including 24 Hour Fitness, Burlington, Ross Dress for Less, Michaels, Petco, Ulta Beauty, Five Below, Bath & Body Works and Skechers. Grand at Aliana will also house a 10,454-square-foot healthcare clinic that will be occupied by Baylor St. Luke’s Medical Group and provide urgent and primary care services. Out-parcels have been ground-leased to McDonald’s, Jason’s Deli, Freddy’s Frozen Custard & Steakburgers, Timewise and Express Oil. The opening is scheduled for the second quarter of 2020.

August 13, 2019

Industrial Leasing Activity Texas

Building Supply Firm Inks 171,850 SF Industrial Lease in Houston

by Taylor Williams August 13, 2019

HOUSTON — Builders FirstSource, a supplier of structural components for the construction industry, has signed a 171,850-square-foot industrial lease at 16245 Port NW Drive in Houston. According to LoopNet Inc., the property was built in 2014 and features 160-foot truck court depths, 28-foot clear heights and an ESFR sprinkler system. Reid Bassinger and Trey Fricke of Lee & Associates represented Builders FirstSource in the lease negotiations. Brian Gammill of Transwestern represented the landlord.

August 13, 2019

Development Industrial Texas

HDA Architects Completes 70,000 SF Distribution Center in Ennis, Texas

by Taylor Williams August 13, 2019

ENNIS, TEXAS — St. Louis-based HDA Architects has completed a 70,000-square-foot distribution center for Price Distributing, which services the beer industry, in Ennis, a southern suburb of Dallas. The tilt-wall facility includes approximately 62,000 square feet of warehouse space, 3,500 square feet of cooler space and office space. Construction began in 2018.

August 13, 2019

Industrial Leasing Activity Texas

JDS Industries Signs 93,703 SF Industrial Lease in Metro Dallas

by Taylor Williams August 13, 2019

GRAND PRAIRIE, TEXAS — JDS Industries, a provider of promotional materials and sign supplies, has signed a 93,703-square-foot industrial lease at MacArthur Crossing, an industrial development in Grand Prairie, roughly midway between Dallas and Fort Worth. Drew Feagin and Luke Davis of Stream Realty Partners represented JDS Industries in the lease negotiations. The representative of the landlord was not disclosed.

August 13, 2019

Loans Multifamily Texas

LMI Capital Arranges $15M Loan for Refinancing of Metro Houston Apartments

by Taylor Williams August 13, 2019

BAYTOWN, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged a $15 million loan for the refinancing of a 255-unit multifamily community in Baytown, an eastern suburb of Houston. Brandon Brown of LMI Capital placed the loan, which carried a fixed interest rate of 4.18 percent and three years of interest-only payments. The borrower and property name were not disclosed.

August 13, 2019

Acquisitions Multifamily Texas

IPA Negotiates Sale of 658-Unit Apartment Portfolio in East Texas

by Taylor Williams August 12, 2019

LONGVIEW AND LUFKIN, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of a 658-unit multifamily portfolio in East Texas. The properties include Pine Knoll, a 310-unit community in Longview that was built in 1983; Deer Cross, a 168-unit asset in Lufkin that was constructed in 1986; and Deer Wood, a 180-unit property that was developed in 1979. Will Balthrope, Drew Kile, Jennifer Campbell and Tommy Lovell III of IPA represented the seller and procured the buyers. Saxony Capital Management purchased Pine Knoll, and Haley Residential acquired Deer Cross and Deer Wood. Richard Robson of Marcus & Millichap and William Griffin of IPA brokered the deal for Pine Knoll.

August 12, 2019

Newer Posts

Older Posts