Texas

Woodbine Acquires 224-Room Hilton Dallas Park Cities Hotel

by Taylor Williams June 19, 2017

DALLAS — Woodbine Legacy Investments, a division of Dallas-based hospitality investment firm Woodbine Development Corp., has acquired the Hilton Dallas Park Cities, a 224-room hotel located in the University Park neighborhood in Dallas. The 11-story hotel, which was built in 2001 and renovated between 2012 and 2013, features a heated rooftop pool, business center, fitness center and 10,529 square feet of meeting and event space. John Bourret and Austin Brooks of HFF represented the undisclosed seller in the transaction.

June 19, 2017

Boyd Commercial Brokers Sale of 30,114 SF Flex Property in Houston

by Taylor Williams June 19, 2017

HOUSTON — Boyd Commercial has brokered the sale of a 30,114-square-foot office/warehouse property located at 9122 and 9000 Telephone Road in Houston. David Munson and David Boyd of Boyd Commercial represented the sellers, MPM Real Estate LLC and Kervinen Petteri, which sold 9122 Telephone Road and 9000 Telephone Road, respectively. Athena Sidhu of RE/Max Top Realty represented the buyer, Aslam Properties Inc.

June 19, 2017

Loans Multifamily Texas

Dougherty Closes $14M in Refinancing of 318-Unit Apartment Community in Dallas

by Taylor Williams June 19, 2017

DALLAS — Dougherty Mortgage LLC has closed the $14 million refinancing of El Sol Del Lago, a 318-unit multifamily community located at 3120 Oradell Lane in Dallas. Dougherty arranged the 12-year Fannie Mae loan, which has a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, El Sol Del Lago LLC.

June 19, 2017

Hospitality Loans Texas

Eastern Union Arranges $1.5M in Refinancing for 128-Room Hotel in Arlington

by Taylor Williams June 19, 2017

ARLINGTON, TEXAS — Eastern Union Funding, a New York-based mortgage brokerage firm, has arranged a $1.5 million loan for the refinancing of the Quality Inn at Arlington Highlands, a 128-room hotel located near AT&T Stadium in Arlington. Peter Blass of Eastern Union arranged the loan through Southwest National Bank on behalf of the borrower, RMG Hospitality. A portion of the funds will be used for renovating the property.

June 19, 2017

Healthcare Texas

Stream, AMD to Develop 101,744 SF Medical Office Complex in Houston

by Taylor Williams June 16, 2017

HOUSTON — Stream Realty Partners and development partner AMD Global LLC will develop Memorial Medical Pavilion, a 101,744-square-foot, Class A medical office complex near the Texas Medical Center in Houston. In early June, joint venture between Stream, AMD and Diamond Realty Investments Inc., an affiliate of Mitsubishi Corp., purchased the two-acre site on which the complex will be developed. Construction is scheduled to begin in December with occupancy slated for the first quarter of 2019.

June 16, 2017

Multifamily Texas

Abby Development Breaks Ground on 250-Unit Multifamily Community in Burleson, Texas

by Taylor Williams June 16, 2017

BURLESON, TEXAS — Abby Development has broken ground on Auberge of Burleson, a 250-unit, Class A multifamily community located near the intersection of State Highway 174 and FM 731 in the southern Fort Worth metro of Burleson. The property, which features a 24-hour fitness center, resident coffee bar and a dog park, will be part of the 95-acre Arabella of Burleson master-planned development.

June 16, 2017

Retail Texas

Coldwell Banker Arranges Sale of 108,326 SF Shopping Center in Lubbock

by Taylor Williams June 16, 2017

LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has arranged the sale of South Plains Plaza Shopping Center, a 108,326-square-foot retail property located at 6703 Slide Road in Lubbock. The center is currently leased to tenants such as Michaels, Office Max, Mattress Firm and Wing Stop. Eric Eberhardt and Alex Eberhardt of Coldwell Banker represented the buyer in the transaction. Other terms of sale were not released.

June 16, 2017

Office Texas

NETSCOUT to Relocate R&D Office to 145,000 SF Building in Metro Dallas

by Taylor Williams June 16, 2017

ALLEN, TEXAS — Massachusetts-based tech firm NETSCOUT Systems Inc. will relocate its research and development office to One Bethany at Watters Creek in the Dallas metro of Allen. The company will lease a 145,000-square-foot building from Kaizen Development Partners that will house more than 500 employees. The Class A property will feature an outdoor courtyard, fitness center, cafeteria and parking garage exclusively for employees. The relocation is scheduled for summer of 2018.

June 16, 2017

Hospitality Texas

Marcus & Millichap Brokers Sale of 65-Room Hotel in Beaumont

by Taylor Williams June 16, 2017

BEAUMONT, TEXAS — Marcus & Millichap has brokered the sale of La Quinta Inn & Suites Beaumont West, a 65-room hotel located at 5820 Walden Road in Beaumont. Skyler Cooper, Lisa Hankamer, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company. The asset had a list price of $6 million. Other terms of sale were not disclosed.

June 16, 2017

Retail Texas Top Stories Washington Western

Amazon to Acquire Whole Foods Market for $13.7B

by Kristin Harlow June 16, 2017

SEATTLE — Online retail giant Amazon (NASDAQ: AMZN) has agreed to acquire high-end grocery chain Whole Foods Market Inc. (NASDAQ: WFM) for $13.7 billion. The all-cash transaction amounts to $42 per share and includes the Austin, Texas-based grocer’s net debt. Whole Foods Market will continue to operate stores under the Whole Foods Market brand. John Mackey will remain CEO of Whole Foods Market, and the company’s headquarters will remain in Austin. “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” says Mackey. Completion of the transaction is subject to approval by Whole Foods Market’s shareholders, regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the second half of 2017. “It seems that Amazon, after all, is one of brick and mortar’s biggest believers — and for good reason. The grocery sector has been in major growth for some time now, and Amazon’s entry into the space will be a game changer,” says Rafael Romero, vice president on the retail team at Coral Gables, Florida-based CREC, an independent real estate firm. “It will be interesting to see how other high-end and organic …

June 16, 2017

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