Texas

Civitas, LKP Ventures Break Ground on 83-Unit Seniors Housing Community in Roanoke, Texas

by Taylor Williams May 10, 2019

ROANOKE, TEXAS — Civitas Senior Living and LKP Ventures have broken ground on Harvest of Roanoke, an 83-unit seniors housing community in Roanoke, located due north of Fort Worth. Situated on 5.2 acres along the Texas 114 Corridor, the developers claim this is the first senior living community to be developed in the area. The community will feature 67 assisted living and 16 memory care apartments in a 67,000-square-foot building. Harvest of Roanoke is scheduled to open in fall 2020. Arrive Architects, Senior by Design and Ridgemont Commercial Construction are also contributing to the project.

May 10, 2019

Industrial Market Reports Texas Texas Market Reports

Industrial Balance Prevails Near Port Houston

by Taylor Williams May 10, 2019

Businesses and industries whose supply chains are tied to Port Houston are dealing with tariffs on select imports, volatile energy markets and a one-two punch of rising rents and construction costs for any industrial space they want to lease or have developed for them. But based on the performance of Houston’s nearby Southeast industrial submarket, these larger geopolitical and economic forces are wreaking minimal havoc. An increasingly diverse mix of industrial users has landed in Houston over the past five or so years. These tenants include national retailers and third-party logistics (3PL) firms that see Houston as an emerging regional distribution hub, as well as suppliers of durable consumer goods and companies that service the petrochemicals industry. The port submarket is seeing heightened activity from all of the above. At the same time, the infrastructure within Port Houston has expanded. Ship channels are in the process of being deepened and widened. Special equipment has been introduced that allows overweight containers to safely and legally leave the port and hit the roadways. Demand for rail-served properties is growing, particularly on the north side of the Houston Ship Channel, leading to more of those projects. And Harris County has begun work on …

May 10, 2019

Industrial Texas

Report: Dallas Tops Nation in 12-Month Industrial Construction, Absorption

by Taylor Williams May 9, 2019

TORONTO — Dallas led the nation in construction and absorption of industrial space between the beginning of the second quarter of 2018 and the end of the first quarter of 2019, according to a new report from Toronto-based Avison Young. While Dallas technically finished behind Los Angeles as the No. 2 city in completions of industrial projects over the last 12 months, the city took the gold medal for total space under construction at 30.9 million square feet. In addition, Dallas claimed the top spot for industrial absorption during this period, with positive net absorption of 23.4 million square feet. As such, the report pegged the city’s industrial vacancy rate at a healthy 6.8 percent. The report also cited the growth of e-commerce and demand for last-mile logistics services as the principal drivers of industrial growth, and noted that a total of 272 million square feet of new space was completed across 46 markets during the past 12 months. Philadelphia, the Inland Empire (California), Atlanta and Chicago rounded out the Top 5 with regard to space under construction.

May 9, 2019

Development Office Texas

Bridgeview to Renovate 204,461 SF Office Tower in Dallas

by Taylor Williams May 9, 2019

DALLAS — Bridgeview Real Estate, a privately held developer and owner-operator will implement a multimillion-dollar renovation plan at LBJ Tower, a 10-story, 204,461-square-foot office tower in Dallas. Bridgeview, with help from Stream Realty Partners, will redesign the building’s lobby to feature modern finishes and lounge space, as well as add a 75-person meeting space and a fitness center. The renovation project, which is meant to elevate the building’s appeal to relocating corporate firms, is expected to be complete by the fourth quarter.

May 9, 2019

Loans Retail Texas

JLL Arranges $10.5M Loan for Refinancing of Retail Center in Lubbock

by Taylor Williams May 9, 2019

LUBBOCK, TEXAS — JLL has arranged a $10.5 million loan for the refinancing of Rockridge Plaza, an 86,500-square-foot retail center located in the West Texas city of Lubbock. The property was 95 percent leased at the time of sale to a mix of national retailers and local businesses. Jimmy Board and Wes Wallace of JLL arranged the fixed-rate, nonrecourse loan through Deutsche Bank on behalf of the borrower, Graco Real Estate Development.

May 9, 2019

Acquisitions Healthcare Texas

NAI Robert Lynn Buys 22,654 SF Medical Office Building in Dallas

by Taylor Williams May 9, 2019

DALLAS — RLI, the investment division of NAI Robert Lynn, has purchased a 22,654-square-foot medical office building located at 9500 N. Central Expressway in Dallas. The building currently houses DaVita Central Dallas Dialysis, and RLI has a new long-term agreement with a national surgical company to anchor the building. RLI expects the new space to be operational in the first quarter of 2020. Nick Lee and Justin Utah of NAI Robert Lynn sourced the off-market building purchase and handled lease negotiations with the new tenant.

May 9, 2019

Loans Multifamily Seniors Housing Texas

Capital Funding Provides $18.5M Acquisition Financing for Skilled Nursing Portfolio in Texas

by Taylor Williams May 9, 2019

TEXAS — Capital Funding LLC has provided a total of $18.5 million in bridge-to-HUD financing for the acquisition of four skilled nursing facilities in Texas. The portfolio totals 491 beds. The borrower, seller(s) and names of the facilities were not disclosed. A third-part operator will manage the properties. Patrick McGovern of Capital Funding originated the deal.

May 9, 2019

Acquisitions Multifamily Texas

JLL Negotiates Sale of 341-Unit Apartment Community in East Dallas

by Taylor Williams May 8, 2019

DALLAS — JLL has negotiated the sale of Bristol Square, a 341-unit apartment community located at 1720 John West Road in east Dallas. The property offers one- and two-bedroom units with hardwood floors, walk-in closets, washers and dryers and balconies or patios. Amenities include a pool and onsite laundry facilities. Zar Haro, Moses Siller, Jorg Mast and David Fersing of JLL represented the seller, McGuire Family Properties, in the transaction. The buyer was Dallas-based WindMass Capital.

May 8, 2019

Loans Multifamily Texas

NXT Capital Provides $21M Acquisition Loan for New Houston Apartment Property

by Taylor Williams May 8, 2019

HOUSTON — Chicago-based NXT Capital has provided a $21 million loan for the acquisition of a newly built multifamily property in Houston. The Class A community features a pool, fitness center, business center, outdoor grilling stations, conference room and storage units. Greg Young and David Cortez of Grandbridge Real Estate Capital placed the loan through NXT Capital. The borrower and property name were not disclosed.

May 8, 2019

Loans Multifamily Texas

CBRE Arranges Acquisition Financing for 272-Bed Student Housing Asset in Austin

by Taylor Williams May 8, 2019

AUSTIN, TEXAS — CBRE has arranged an undisclosed amount of permanent financing for the acquisition of 21 Pearl, a 272-bed student housing community serving the University of Texas at Austin. The 135-unit property was completed in 2013 and was 96 percent occupied at the time of the loan closing. Benjamin Roelke and Ian Walker of CBRE arranged the financing on behalf of TEXLA Housing Partners and a private equity fund managed by Crow Holdings Capital. A life insurance company provided the loan, which features full-term interest-only payments along with a flexible prepayment structure. 21 Pearl is the joint venture’s first acquisition.

May 8, 2019

Newer Posts

Older Posts