DALLAS — Serendipity Labs Inc., a provider of coworking space for the office and hospitality sectors, will open its first location in the Dallas area at KPMG Plaza at HALL Arts in the city’s Arts District. The location will feature a 29,000-square-foot workplace on the building’s 17th floor and lobby level. Worth Coworking LLC will operate the location, which will offer dedicated offices and project rooms, as well as the capacity to host professional networking events.
MCALLEN, TEXAS — Marcus & Millichap has brokered the sale of Redbud Place, an 80-unit apartment complex situated on four acres at 1001 E. Redbud Ave. in McAllen. Built in 2003, the property consists of 24 one-bedroom units and 56 two-bedroom units. Mike Moffitt Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Whitney Rhoades, Danalee Corso and Scott Logan, also of Marcus & Millichap, procure the buyer, a private investor.
FRISCO, TEXAS — Henry S. Miller Cos. (HSM) has secured a 1,800-square-foot retail lease at Preston Hickory Crossing in Frisco. Verizon Wireless will occupy the space and open for business during the third quarter. Paul Vernon and Sean Lockovich of HSM represented the landlord, BAUG Corp., in the lease negotiations. The representative of the tenant was not disclosed.
SAN ANTONIO — BMC Capital has arranged $1.1 million in cash-out refinancing for a 32-unit multifamily property in San Antonio. Clayton Wells of BMC Capital arranged the 10-year loan, which features a 4.2 percent interest rate and a 30-year amortization schedule, through an agency lender on behalf of the undisclosed borrower.
IRVING, TEXAS — Valencia Group, a Houston-based hospitality firm, has broken ground on the Valencia Texican Court Hotel, a 136-room hotel located at the corner of West Las Colinas Boulevard and West Northwest Highway in Irving. The property will feature approximately 5,000 square feet of meeting space. Dallas-based BOKA Powell LLC is the architect for the project and Arch-Con Corp. is the general contractor, according to the Dallas Business Journal.
MCKINNEY, TEXAS — Independent Bank Group Inc. will build a corporate campus on 10.4 acres within the Craig Ranch development, located at the intersection of State Highway 121 and Grand Ranch Parkway in McKinney. The project is expected to cost approximately $52 million, according to the Dallas Business Journal, and could create as many as 400 new jobs. Independent Bank is an $8.6 billion regional lender. Since going public in 2013, the company has increased its employee base from approximately 340 to more than 1,000 and its number of locations in Texas and Colorado from 30 to 82.
NASSAU BAY, TEXAS — KeyBank Real Estate Capital has provided a $29 million Fannie Mae loan for the acquisition of Voyager at the Space Center, a 313-unit multifamily property located at 18101 Point Lookout Drive in the Houston metro of Nassau Bay. The Class A property was built in 2010. Chris Black of KeyBank arranged the 10-year loan, which features a 30-year amortization schedule and five years of interest-only payments.
SAN ANTONIO — Hilton Worldwide and development partners Crockett Urban Ventures and Merritt Development Group are building Canopy by Hilton San Antonio River Walk, a 22-story, 195-room hotel in San Antonio. The property will be located at the corner of North St. Mary’s and Commerce streets in the city’s River Walk neighborhood. Amenities will include a restaurant with an outdoor terrace and 3,000 square feet of meeting space. White Lodging Services will manage the hotel, which is slated for a fall 2018 completion
HOUSTON — NAI Partners has arranged a 31,512-square-foot industrial lease at 5114 Railroad St. in Houston. John Ferruzzo and Chris Kugle of NAI represented the landlord, 5114 Railroad LLC, in the lease negotiations. Travis Secor and Ryan Fuselier of JLL represented the tenant, Vac-One Services LLC, a vacuum and hydro-excavation services company.
HOUSTON, TEXAS — LMI Capital has arranged $28.7 million in acquisition and refinancing loans for two multifamily properties in Houston. Jamie Mullin of LMI arranged a 10-year, $12 million acquisition loan at 4.11 percent interest for a 330-unit asset. Brandon Brown of LMI arranged a 10-year, $16.7 million refinancing loan at 4.44 percent interest for a 270-unit property.
