WAXAHACHIE, TEXAS — Greystone has closed a $23.7 million HUD loan for Hunter’s Cove Apartments, a 192-unit multifamily community located in the southern Dallas suburb of Waxahachie. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and a resident clubhouse. Ana Ramos of Greystone placed the 30-year loan, which featured a fixed interest rate and a 30-year amortization period. The borrower was not disclosed.
HOUSTON — Sterling Construction Co. has been awarded the design-build contract for Phase I of the Houston Spaceport, a project that will deliver a hub for transporting people and cargo in and out of space. Valued at $17.2 million, Phase I of the project will span 90 acres and deliver infrastructure, including streets, water, and electrical power facilities to the spaceport, which is being developed at Ellington Airport on the city’s southeastern side. Construction is expected to begin during the first quarter of 2019 and to be complete by early 2020.
CORPUS CHRISTI, TEXAS — New York City-based Meridian Capital Group has arranged an $11.5 million acquisition loan for Wilson Plaza, a 270,000-square-foot office building in Corpus Christi. The 17-story property was built in 1927 and is considered the city’s first skyscraper. Jason Grimm, Noam Kaminetzky and Israel Schubert of Meridian Capital placed the five-year loan through a balance sheet lender on behalf of the borrower, The Tridium Group.
CEDAR PARK, TEXAS — Retail Solutions has brokered the sale of a 6,600-square-foot, single-tenant retail property leased to Dave’s Ultimate Automotive in Cedar Park, a northern suburb of Austin. According to LoopNet Inc., the property was built in 1986. Alan Rust and Dave Burggraaf of Retail Solutions represented the seller in the transaction. David Stojanik of NAI Partners represented the buyer. Both parties requested anonymity.
IRVING, TEXAS — New York City-based Extell Development Co. has acquired Four Seasons Resort & Club Dallas, a 405-room hotel located within Irving’s Las Colinas district, for $235 million. The sale price equates to about $580,000 per unit. The property offers access to a golf course and has several onsite bars and restaurants. According to hotel-online.com, the seller was Blackstone, which acquired the property from CW Capital Asset Management in 2014 for $150 million.
AUSTIN, TEXAS — Zydeco Development Corp. has broken ground on Phase II of MetCenter, an office project in central Austin that will feature 410,000 square feet of office space. The property offers proximity to both the downtown area and Austin-Bergstrom International Airport. Onsite amenities will include hiking and biking trails, as well as basketball and tennis courts. Completion of Phase II is slated for April 2019. JLL is leasing the project.
AUSTIN, TEXAS — HFF has negotiated the sale of Las Cimas II and III, a 313,716-square-foot office property in Austin. Completed in 2000 and 2001, the two buildings are located at the intersection of Loop 360 and Bee Cave Road on the city’s southwestern side. Amenities include a Whole Foods Market deli, fitness center and a conference room. HFF represented the seller, international investment firm GLL Real Estate Partners, and procured the buyer, Boston-based Rockpoint Group LLC.
SAN ANTONIO — CBRE has arranged a refinancing for Franklin Park Alamo Heights, a 221-unit independent living, assisted living and memory care community in San Antonio. The borrower is a joint venture between Harrison Street Real Estate Capital and Franklin Development Properties. The amount of the loan was not disclosed. Aron Will and Tim Root of CBRE secured a three-year, floating-rate loan with 24 months of interest-only payments through an undisclosed debt fund.
BEAUMONT, TEXAS — CBL Properties (NYSE: CBL) has begun work on a 110,000-square-foot retail redevelopment project in Beaumont. The company will backfill a former Macy’s store located at Parkdale Mall with a Dick’s Sporting Goods, Five Below and a national home furnishing store. The openings are slated for spring 2019. Parkdale Mall’s tenant roster includes Dillard’s, JC Penney, Sears, H&M, 2nd & Charles and Tilt Studio.
FORT WORTH, TEXAS — McLane Co. Inc., a supply chain firm owned by Berkshire Hathaway that specializes in groceries, will open a 650,000-square-foot distribution center within Carter Industrial Park in Fort Worth. According to The Fort Worth Star-Telegram, Associated Wholesale Grocers Inc. operated at the site until 2017, when it left the park and laid off more than 2,000 workers. McLane will invest at least $18 million in construction and upgrades to the existing site by January 1, 2020. Under the terms of an incentives package recently approved by the Fort Worth City Council, McLane will employ about 550 people at the facility, 30 percent of which must be Fort Worth residents.
