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Palladium-City-Skyline-Fort-Worth
DevelopmentMultifamilyTexas

Palladium USA to Develop 243-Unit Mixed-Income Multifamily Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based Palladium USA will develop a 243-unit mixed-income multifamily project in Fort Worth. Select units at Palladium City Skyline, which will be developed in partnership with the Fort Worth Housing Finance Corp. (FWHFC), will be reserved for households earning up to 30, 60, 70 and 80 percent of the area median income. Amenities will include indoor and outdoor children’s play areas, a fitness center, pool and dog run. Arrive Architecture Group designed the project, and Treymore Construction is serving as the general contractor. The Texas Department of Housing & Community Affairs provided a $6 million direct loan for the project, as well as $30 million in tax-exempt bonds and approximately $30 million in 4 percent Low-Income Housing Tax Credits. Regions Bank also provided $27 million in equity and $30 million of long-term debt. Palladium City Skyline’s first units are expected to be available for occupancy in early 2026.

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Cambria-Hotel-Austin-Downtown
HospitalityLoansTexas

Benefit Street Partners Funds $48.7M Loan for Refinancing of Downtown Austin Hotel

by Taylor Williams

AUSTIN, TEXAS — Benefit Street Partners has funded a $48.7 million bridge loan for the refinancing of the 212-room Cambria Austin Downtown hotel. The 16-story, 223,975-square-foot hotel opened last fall. Amenities include a pool, fitness center, 24-hour market and 15,000 square feet of meeting/event space, as well as a fifth-floor restaurant and bar and a rooftop bar and lounge. Charlie Ryan of Atlanta-based Hunter Hotel Advisors arranged the loan on behalf of the borrower, a partnership between an affiliate of California-based Stratus Development Partners and Maryland-based operator Choice Hotels International Inc.

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LoansMultifamilyTexas

PACE Equity Provides $5.1M in C-PACE Financing for Downtown San Antonio Apartment Building

by Taylor Williams

SAN ANTONIO — PACE Equity has provided $5.1 million in C-PACE (commercial property-assessed clean energy) financing for The Travis Building, an apartment building in downtown San Antonio. According to Apartments.com, the Travis Building was redeveloped in 2023 and offers one- and two-bedroom units, as well as amenities such as a fitness center, business center and onsite laundry facilities. The borrower was not disclosed.

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IndustrialLeasing ActivityTexas

Direct Air Flow Distributors Signs 13,200 SF Industrial Lease in Montgomery, Texas

by Taylor Williams

MONTGOMERY, TEXAS — Direct Air Flow Distributors has signed a 13,200-square-foot industrial lease in Montgomery, about 55 miles north of Houston. According to LoopNet Inc., the single-tenant building at 18904 Freeport Drive was built in 2012. Travis Land and Braedon Emde of Partners Real Estate represented the landlord, Kudzu Construction & Development, in the lease negotiations. Griffin Rich of Newmark represented the tenant.

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Sylvania-Industrial-Park-Fort-Worth
IndustrialLoansTexas

CanTex Capital Refinances 893,738 SF Manufacturing Facility in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based investment firm CanTex Capital has refinanced Sylvania Industrial Park, an 893,738-square-foot manufacturing facility in Fort Worth. Sylvania Industrial Park sits on 55 acres and was leased to 15 tenants at the time of the loan closing, including Tyson Foods, TK Airport Solutions, JR New Energy and Andes Coil Processors. Jim Curtin, Jarrod McCabe, Luke Rogers and Jordan Buck of JLL arranged the three-year, floating-rate loan through MetLife Investment Management on behalf of CanTex Capital. The loan amount was not disclosed.

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Red-Oaks-Austin
Affordable HousingDevelopmentMultifamilyTexas

Housing Trust Group Breaks Ground on $26M Affordable Housing Project in North Austin

by Taylor Williams

AUSTIN, TEXAS — Multifamily developer Housing Trust Group has broken ground on Red Oaks, a $26 million affordable housing project in North Austin. The property will have 70 units in studio, one- and two-bedroom formats that will be reserved for households earning between 30 and 60 percent of the area median income. The Texas Department of Housing & Community Affairs issued $16 million in Low-Income Housing Tax Credits for the project, and Bank of America provided a $15.6 million construction loan. Berkadia originated a $7 million Freddie Mac permanent loan, and the Austin Housing Finance Corp. contributed a $4 million RDHA loan. Preleasing at Red Oaks is scheduled to begin in fall 2025.

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Dream-Aspen-Creek-Broken-Arrow
LoansMultifamilyOklahomaTexas

Thorofare Capital Funds $23M Loan for Refinancing of Multifamily Property Near Tulsa

by Taylor Williams

BROKEN ARROW, OKLA. — Los Angeles-based Thorofare Capital has funded a $23 million loan for the refinancing of Dream Aspen Creek, a 240-unit multifamily property in Broken Arrow, located just east of Tulsa. Built in 2018, the property features 17 residential buildings that house one- and two-bedroom units on a 12.2-acre site. Amenities include a pool, clubhouse, fitness center, dog run, outdoor grilling and dining stations and package lockers. David Perlman, Jacob Yi and Jason Campbell of Thorofare Capital originated the fixed-rate loan on behalf of the borrower, an affiliate of Florida-based DLP Capital.

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AcquisitionsIndustrialTexas

Partners Capital Acquires 74,335 SF Industrial Flex Building in Southwest Austin

by Taylor Williams

AUSTIN, TEXAS — Partners Capital, the investment arm of full-service commercial real estate firm Partners Real Estate, has acquired Monterey Tech Center, a 74,335-square-foot industrial flex building in southwest Austin. The site at 4407 Monterey Oaks Blvd. lies just beyond the intersection of U.S. Highway 290 and MoPac Expressway, and the building was 16 percent leased at the time of sale. Veritex Community Bank provided an undisclosed amount of acquisition financing for the deal. The seller and sales price were also not disclosed.

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LoansOfficeRetailTexas

PACE Equity Provides $1.6M in C-PACE Financing for Historic Building in San Antonio

by Taylor Williams

SAN ANTONIO — Milwaukee-based PACE Equity has provided $1.6 million in C-PACE (commercial property-assessed clean energy) financing for The Allen, a historic building located just north of downtown San Antonio. Originally built in 1928 and formerly housing a flowers and antiques shop, The Allen currently serves as the office headquarters of developer Headwall Investments and also offers traditional retail space. The redevelopment included energy-efficiency improvements, including HVAC and lighting system upgrades. The borrower was not disclosed.

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DevelopmentLife SciencesTexasTop Stories

City of Plano Approves $4B Texas Research Quarter Life Sciences Project

by Kristin Harlow

PLANO, TEXAS — The Plano City Council has approved a development agreement to support the Texas Research Quarter (TRQ), a life sciences-focused innovation district. The first phase would involve redevelopment and new construction at the former Electronic Data Systems (EDS) headquarters, a 91-acre site that serves as the TRQ main campus. Plano is located approximately 20 miles north of Dallas. The development agreement provides reimbursement to incentivize investment and development within a newly created tax-increment reinvestment zone (TIRZ), which contains the TRQ properties and other parts of Plano’s Legacy neighborhood. Total project costs are estimated at $4 billion, according to the Dallas Business Journal. Future phases include additional redevelopment activity across the main campus, as well as the creation of an integrated multi-site district through development at adjacent and nearby properties. Dallas-based NexPoint, an alternative investment manager with a real estate arm, is spearheading the development. “The city council approval is just the first step in a comprehensive plan to develop the TRQ into a world-class hub for life sciences,” says Eric Danielson, managing director and head of real estate development at NexPoint. “We are committed to collaborating with the community to build a dynamic ecosystem that will drive innovation, …

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