NACOGDOCHES, TEXAS — Capital One has provided a $9.3 million Fannie Mae loan for the refinancing of The Arbor Assisted Living & Memory Care, a 59-unit seniors housing property in Nacogdoches, a city roughly midway between Houston and Shreveport, La. The property was built in the late 1990s. The borrower was Prevarian Senior Living, an owner of seven assisted living and memory care communities across the country.
HOUSTON AND SUGAR LAND, TEXAS — Fifth Corner, a Houston-based investment firm, has acquired two retail properties totaling 39,000 square feet in the greater Houston area. One property is located in the Washington corridor area of Houston and the other is located in the southwestern suburb of Sugar Land. Tenants at the centers include Memorial Hermann, Five Guys Burgers & Fries and Buffalo Wild Wings.
LEWISVILLE, TEXAS — Bright Realty has broken ground on The Realm at Castle Hills, a 324-acre mixed-use project located in the northern Dallas metro of Lewisville. The development will deliver office, retail, entertainment and multifamily space. Phase I will center on Offices at The Realm, a nine-story, Class A office building that will span 235,000 square feet of office space and 15,000 square feet of ground-floor restaurant space. The building will front an outdoor park and entertainment space, all of which are slated for delivery in mid-2019. Groundwork on Phase II of the project, a 260-unit multifamily atop 35,000 square feet of retail space, is also underway.
DALLAS, SAN ANTONIO AND LUBBOCK, TEXAS — Fort Worth-based Mitchell Asset Group Inc. has acquired a 320,852-square-foot industrial portfolio from private equity firm Pacific Avenue Capital Partners. The properties include a 136,882-square-foot facility located at 11100 Plano Road in Dallas; a 104,000-square-foot asset located at 3101 Aniol St. in San Antonio; and a 79,790-square-foot building located at 1919 Avenue E in Lubbock. The properties were acquired in a sale-leaseback transaction for an undisclosed price. Walker & Dunlop arranged debt for the acquisition through UBS.
SAN ANTONIO — Schertz, Texas-based Industrial Group Southwest (IGX) will develop a 350,000-square-foot industrial building in San Antonio. The development marks Phase I of Brooks Business Park, a six-building project on the city’s south side that will ultimately deliver about 1.1 million square feet of industrial space. Buildings will range in size from 30,000 to 600,000 square feet. The initial 350,000-square-foot building is expected to be complete before year’s end.
DALLAS — Greysteel has arranged the sale of Artisan Ridge, a 264-unit multifamily community in Dallas. Built in 2004 on 14.7 acres, the property offers amenities such as a pool, clubhouse with a business center, playground, fitness center and storage units. Ari Firoozabadi, Doug Banerjee, Boyan Radic, Andrew Mueller, John Marshall Doss and Andrew Hanson of Greysteel represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of three retail properties totaling 143,963 square feet in Austin. The single-tenant properties span a total of 21.3 acres and are leased to JC Penney, Frost Bank and Gold’s Gym. Vincent Knipp and Ryan Wolf of Marcus & Millichap represented the seller, a private developer, in the transaction. Bill Rose, also of Marcus & Millichap, procured the buyer, a private investor. Both parties requested anonymity.
GRAND PRAIRIE, TEXAS — A partnership between California-based CT Realty and Texas-based Port Logistics Realty has broken ground on Oakdale Logistics Center, a 401,577-square-foot industrial facility in Grand Prairie. The Class A warehousing and distribution facility will feature a cross-dock configuration, 175 dock-high doors, 32-foot clear heights and 185-foot truck court depths. Completion of the project, which marks the third collaboration between the two firms in the Dallas-Fort Worth (DFW) metroplex, is slated for the first quarter of 2019.
PLANO, TEXAS — JLL Income Property Trust has acquired Villas at Legacy, a 328-unit multifamily community in Plano. The property is located within Legacy Business Park, a 2,665-acre master-planned community. Amenities include a pool, fitness center, business center, picnic areas and a coffee bar. This transaction, the seller in which was not disclosed, raises the size of the trust’s multifamily portfolio to more than 2,500 units.
AUSTIN, TEXAS — Taiwanese bakery 85°C Bakery Café has signed leases to open two new stores in Austin, one in the Highland area on the city’s north side and one on Lakeline Boulevard on the city’s northwest side. John Nguyen of NewQuest Properties represented the bakery in its lease negotiations. Bryan McMurrey of CBRE represented the landlord in the lease for the Highland location, which will have a soft open on June 25.
