Texas

Bright Realty Breaks Ground on 109,000 SF Office Building in Greater Dallas

by Taylor Williams August 6, 2019

LEWISVILLE, TEXAS — Locally based developer Bright Realty has broken ground on Crown Centre at Castle Hills, a 109,000-square-foot office building located in the northern Dallas suburb of Lewisville. The four-story, Class A property will be situated within the Castle Hills development. 505Design and Corgan are the project architects; Hill + Wilkinson is the general contractor and LandDesign is the civil engineer and landscape architect. Prosperity Bank is providing construction financing. Completion is scheduled for summer 2020.

August 6, 2019

Development Hospitality Texas

Raymond Management to Develop 119-Room Marriott Hotel in Fort Worth

by Taylor Williams August 6, 2019

FORT WORTH, TEXAS — Raymond Management Co. will develop a 119-room Marriott Residence Inn at Waterside, a 63-acre mixed-use development in Fort Worth by Trademark Property Co. The property will be situated on approximately three acres along Arborlawn Drive at the south end of the development. Construction is scheduled to begin in the fourth quarter and to be complete by 2021.

August 6, 2019

Industrial Leasing Activity Texas

Logistics Firm Signs 362,288 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams August 6, 2019

DESOTO, TEXAS — Signature Global Logistics Inc. has signed a 362,288-square-foot industrial lease renewal at I-20 Corporate Center in DeSoto, a southern suburb of Dallas. Ryan Boozer of Stream Realty Partners represented the tenant in the lease negotiations. Bradford Cos. represented the landlord, Series A of CMDS Trust and H&H Paramount LP.

August 6, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 8,720 SF Office Lease Renewal in Houston

by Taylor Williams August 6, 2019

HOUSTON — NAI Partners has negotiated an 8,720-square-foot office lease renewal for Greater Houston Interventional Pain Associates (GHIPA) at 4747 Bellaire Blvd. in Houston. This renewal allows GHIPA to capitalize on the new upgrades currently planned for The Offices at Pin Oak Park. Taylor Wright and Griff Bandy of NAI Partners represented the tenant in the lease negotiations.

August 6, 2019

Industrial Leasing Activity Texas

Callaway Golf to Open 783,465 SF Distribution Center at AllianceTexas in Fort Worth

by Taylor Williams August 5, 2019

FORT WORTH, TEXAS — Callaway Golf Co. will open a 783,465-square-foot distribution center at AllianceTexas, Hillwood’s 26,000-acre master-planned community in Fort Worth. The sporting goods company, which produces and distributes clubs, apparel and other golf accessories, has operated out of AllianceTexas for nearly a decade and is quadrupling its current footprint with this deal. The opening is scheduled for early 2020.

August 5, 2019

Rolling-Hills-Apartments-Lancaster-Texas

Loans Multifamily Texas

Dougherty Arranges Acquisition Financing for 384-Unit Multifamily Asset in Metro Dallas

by Taylor Williams August 5, 2019

LANCASTER, TEXAS — Dougherty Mortgage LLC has arranged an undisclosed amount of Fannie Mae acquisition financing for Rolling Hills Apartment Homes, a 384-unit asset located in the southern Dallas suburb of Lancaster. The property features a dog park, fitness center, pool and a playground. Dougherty arranged the 12-year loan, which carried a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, RHP202 LLC.

August 5, 2019

Acquisitions Multifamily Texas

IPA Negotiates Sale of 241-Unit Apartment Community in Dallas

by Taylor Williams August 5, 2019

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Fountains of Woodmeadow, a 241-unit apartment community in Dallas. Built in1985 on five acres, the property is located in the Lake Highlands area north of downtown. Amenities include a pool and an outdoor grilling area. Bard Hoover, Nick Fluellen, Will Balthrope, Drew Kile, Joey Tumminello and Giuseppe Thum of IPA represented the seller, a Dallas-based corporation, in the transaction. The IPA team also secured the buyer, a Los Angeles-based limited liability firm.

August 5, 2019

Development Multifamily Seniors Housing Texas

Ilan Investments Breaks Ground on 229-Unit Seniors Housing Community in Houston

by Taylor Williams August 5, 2019

HOUSTON — Ilan Investments has broken ground on Arella on Jones, a 229-unit seniors housing community in northwest Houston. The property will offer units averaging 975 square feet. Amenities will include a pool, dog park, outdoor putting green, gaming area, theater room, fitness center, library, salon, business center and a library. Meeks + Partners is the architect for the project, and Spring Valley Construction is the general contractor. The opening is scheduled for summer 2022.

August 5, 2019

Acquisitions Hospitality Texas

Ashford Hospitality Sells Marriott-Branded Hotel in San Antonio for $34M

by Taylor Williams August 5, 2019

SAN ANTONIO — Ashford Hospitality Trust Inc., a Dallas-based REIT, has sold the 251-room Marriott Plaza San Antonio for $34 million. The sales price represents a capitalization rate of 4.9 percent. Located near the city’s RiverWalk area, the hotel features a fitness center, pool and meeting and event space. The buyer was not disclosed.

August 5, 2019

Acquisitions Multifamily Texas

Waterton Acquires 950-Unit Multifamily Portfolio in Austin

by Taylor Williams August 2, 2019

AUSTIN, TEXAS — Chicago-based investment and management firm Waterton has acquired a three-property, 950-unit multifamily portfolio in Austin. The garden-style properties include the 390-unit Madison at Stone Creek, the 300-unit Madison at Wells Branch and the 260-unit Madison at Scofield Farms. All properties were built in the 1990s and offer amenities such as pools, fitness centers, dog parks and clubhouses. Waterton will implement a value-add program focused on unit interiors, utility systems and amenity spaces. The seller(s) was not disclosed.

August 2, 2019

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