Texas

Atlantic | Pacific Buys 324-Unit Apartment Community in Fort Worth

by Taylor Williams July 11, 2018

FORT WORTH, TEXAS — A private equity fund affiliated with Miami-based investment firm Atlantic | Pacific Cos. has acquired Avana Point, a 324-unit multifamily community in Fort Worth. The property, which has since been rebranded as The Atlantic Station, features one-, two- and three-bedroom units. Amenities include a pool, fitness center, dog park, outdoor grilling areas, business center and a clubhouse. The transaction marks the company’s third acquisition of a multifamily property in Texas in the last 90 days. The seller was not disclosed.

July 11, 2018

Acquisitions Office Texas

Coworking Firm Acquires Dallas Gym, Will Offer Tenants Fitness Options

by Taylor Williams July 11, 2018

DALLAS — Common Desk, a Dallas-based coworking and office amenities provider, has acquired The Gym of Social Mechanics, a fitness concept that revolves around body weight movements, yoga and cardio. The east Dallas-based gym was founded in 2013. Common Desk will offer similar fitness services to occupants at the buildings it serves, giving landlords an alternative to developing full-service gyms.

July 11, 2018

Industrial Leasing Activity Texas

HLC Negotiates 98,489 SF Industrial Lease in Dallas

by Taylor Williams July 11, 2018

DALLAS — Holt Lunsford Commercial (HLC) has negotiated a 98,489-square-foot industrial lease at 7601 Ambassador Row in Dallas. The distribution-oriented property was built in 1958 and totals 185,220 square feet. Canon Shoults and Josh Barnes of HLC represented the landlord, Frontier Equity, in the lease negotiations. Craig Jones of JLL represented the undisclosed tenant.

July 11, 2018

Development Multifamily Texas

JPI Breaks Ground on 425-Unit Apartment Community in Frisco

by Taylor Williams July 10, 2018

FRISCO, TEXAS — Irving-based multifamily developer JPI has broken ground on Jefferson at The Gate, a 425-unit apartment community in Frisco. The Class A property is located within The Gate, a master development by Dubai-based Invest Group Overseas that upon completion will include 650,000 square feet of office space, 130,000 square feet of retail space and a luxury hotel. Amenities at Jefferson at The Gate will include two pools, a fitness center and yoga studio, access to walking trails and concierge services. The first units are expected to be available for occupancy during the first quarter of 2020.

July 10, 2018

Acquisitions Multifamily Texas

JoCo, ValCap Acquire Two Apartment Communities Totaling 316 Units in Austin

by Taylor Williams July 10, 2018

AUSTIN, TEXAS — A partnership between two private equity firms, Pittsburgh-based JoCo Partners and Dallas-based The ValCap Group, has acquired two adjacent multifamily communities totaling 316 units in Austin. Westwood Apartments was built in 1983 and totals 152 units, and Audubon Square was built in 1986 and totals 164 units. The partnership plans to combine the properties into one community called The Lantern that features amenities such as a clubhouse, fitness center, pool areas, outdoor grilling stations and a dog park. The community opened recently and its first units are currently being renovated.

July 10, 2018

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 321-Unit Self-Storage Facility in Orange, Texas

by Taylor Williams July 10, 2018

ORANGE, TEXAS — Marcus & Millichap has arranged the sale of Bear Storage, a 321-unit self-storage facility located in Orange, about 30 miles east of Beaumont. The property features 35,830 net rentable square feet, as well as climate-controlled units, RV and boat storage spaces and a truck rental service. Dave Knobler of Marcus & Millichap brokered the sale on behalf of the seller, a limited liability company, and the buyer, a partnership that operates six facilities in the Houston area. Other terms of sale were not released.

July 10, 2018

Acquisitions Industrial Texas

NAI Partners Purchases 73,105 SF Retail Center in San Marcos

by Taylor Williams July 10, 2018

SAN MARCOS, TEXAS — NAI Partners Investment Fund II, the private equity arm of Houston-based NAI Partners, has purchased San Marcos Place, a 73,105-square-foot office and retail center in San Marcos, located roughly midway between Austin and San Antonio. The four-building property was 84 percent leased at the time of purchase to retail tenants such as Pizza Hut and Nationwide Insurance. Andrew Pappas and Adam Hawkins of NAI Partners internally negotiated the sale for the fund. Cathy Nabours of HFF represented the undisclosed seller.

July 10, 2018

Creekside-Park-Village-Center-The-Woodlands-Texas

Development Healthcare Texas

Howard Hughes to Develop 67,200 SF Healthcare Project in The Woodlands

by Taylor Williams July 10, 2018

THE WOODLANDS, TEXAS — Howard Hughes Corp. (NYSE: HHC) will develop a 67,200-square-foot medical facility in The Woodlands, about 30 miles north of Houston. Designed by Houston-based PGAL, the project will deliver two 33,600-square-foot buildings within Creekside Park Village Center, a mixed-use property developed by Howard Hughes. Construction is scheduled to begin at the end of the year. Transwestern will handle leasing of the property.

July 10, 2018

Acquisitions Retail Texas

STRIVE Arranges Sale of 111,374 SF Retail Center in Fort Worth

by Taylor Williams July 9, 2018

FORT WORTH, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Westover Village, a 111,374-square-foot retail center in Fort Worth. The property, which houses tenants such as AT&T, Firehouse Subs and SportClips, was close to full occupancy at the time of sale. The site includes additional land for development. Jennifer Pierson of STRIVE represented the seller, a St. Louis-based developer, in the transaction. A Texas-based investor purchased the asset for an undisclosed price.

July 9, 2018

Acquisitions Multifamily Texas

TH Real Estate Purchases 246-Unit Apartment Community in Austin

by Taylor Williams July 9, 2018

AUSTIN, TEXAS — TH Real Estate, an affiliate of Chicago-based asset manager Nuveen, has purchased Tacara Steiner Ranch, a 246-unit apartment community in northwest Austin. The property, which was built in 2017 and was 98 percent occupied at the time of sale, offers one-, two- and three-bedroom units averaging 959 square feet per unit. Amenities include a pool, fitness and massage studios, media and game rooms and a dog park. Scott LaMontagne of JLL handled the sale on behalf of the seller and developer, San Antonio-based Casey Development Ltd.

July 9, 2018

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