SAN ANTONIO — Chicago-based NXT Capital has secured a $24.5 million loan for the acquisition of a 224-unit multifamily community located in the Alamo Heights neighborhood of San Antonio. The Class B property offers convenient access to the San Antonio International Airport, as well as amenities including a pool, fitness center and business center. Luke Donahue of NorthMarq placed the loan with NXT Capital on behalf of Jevan Capital, a Phoenix-based multifamily investment firm.
DALLAS — The Ainbinder Co., the developer of High Point Crossing retail center in northeast Dallas, has signed four anchor tenants to the 180,000-square-foot development. Academy Sports + Outdoors, Marshalls, Burlington and Five Below will serve as anchor tenants at the property, which is under construction and expected to open in the fall. Jeff Kittleson, Robert Aycock and Andrew Aycock of CBRE represented The Ainbinder Co. in the lease negotiations.
MIDLAND, TEXAS — Adolfson & Peterson Construction has topped out the new, 105,801-square-foot engineering building located on the University of Texas of the Permian Basin’s (UTPB) campus in Midland. Designed by Stantec Architects, the three-story building will contain classrooms, lecture halls, faculty offices, student collaboration spaces and labs for a variety of engineering activities. The project will also deliver a new parking lot. Overall completion is slated for April 2019.
SAN ANTONIO — JLL has arranged the sale of Hamilton Place, a 77-unit multifamily community in San Antonio. The Class B property is located at 1622 and 1650 Jackson Keller Road on the city’s north side and offers amenities such as a pool, a dog park and on-site laundry services. Moses Siller of JLL represented the seller, Vergara Properties LLC, in the sale. JMB Group, an investment and management firm with offices around the country, purchased the property.
LEWISVILLE, TEXAS — Venture Investment Sales has brokered the sale of an 8,700-square-foot retail center in Lewisville. The property’s location at 5040 State Highway 121 is adjacent to Grandscape, a 400-acre mixed-use development. Tenants include T-Mobile, Chipotle Mexican Grill and Texas Direct Auto. John Zikos, Jonathan Cooper and Don Miller of Venture represented the seller. A local family trust purchased the asset for an undisclosed price.
KATY, TEXAS — NewQuest Properties has unveiled plans for the Phase II expansion of Katy Grand, a 21.7-acre, cinema-anchored retail development in Katy. Phase II will deliver 36,000 square feet of retail and restaurant space on 7.4 acres in late fall. Leases with three new tenants — Japanese book retailer Kinokuniya, Taiwanese eatery 85C Bakery Café and Kula Revolving Sushi Bar — have already been signed.
FORT WORTH, TEXAS — Sundance Square, the developer of downtown Fort Worth’s main entertainment district of the same name, has acquired the Petroleum Building, a 117,000-square-foot office asset. XTO Energy, a division of ExxonMobil, sold the building for an undisclosed price and will continue to occupy the space until summer as it relocates roughly 1,600 jobs from Fort Worth to Houston. The property occupies a full city block at West Sixth Street between Houston and Throckmorton streets in downtown Fort Worth. The sale includes a 534-space parking garage situated adjacent to the building. Ryan Matthews of JLL brokered the sale on behalf of XTO Energy, which has now sold four office properties totaling 281,204 square feet in Fort Worth.
DALLAS — Stillwater Capital has broken ground on The Crosby, a 336-unit multifamily complex located at 400 S. Hall St. in the Deep Ellum district of Dallas. Designed by Dallas-based HLR Architects Inc., the building will feature 3,000 square feet of co-working space, a rooftop deck and lounge, a dog park, pool, fitness center and bike storage services. Units will include studio, one- and two-bedroom residences ranging in size from 535 to 1,176 square feet. A timetable for completion has not yet been established.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Ranch at Fossil Creek, a 274-unit multifamily property located on Fort Worth’s north side. The property was built in 2002. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, Connecticut-based Beachwold Residential LLC. The group also procured the buyer, Frisco-based CAF Capital Partners LLC.
PFLUGERVILLE, TEXAS — Texas Realty Capital (TRC) has arranged the $11 million refinancing of 130 Commerce Center, a 230,000-square-foot industrial/office property located in Pflugerville on Austin’s north side. Minneapolis-based Thrivent Financial provided the loan, which features a 10-year term and a fixed interest rate, on behalf of an undisclosed, out-of-state borrower.