Texas

Signorelli Co. Announces Phase I of 4,700-Acre Master-Planned Development Near Houston

by Katie Sloan September 22, 2023

ROSENBERG, TEXAS — The Signorelli Co. has announced plans for Phase I of Austin Point, a 4,700-acre master-planned community located roughly 30 miles southwest of Houston in Rosenberg. Upon completion, the development will feature 14,000 homes and 15 million square feet of multifamily, office, medical, retail and hospitality space. The project will also include the extension of Fort Bend Parkway and Grand Parkway at the development site for more convenient access to downtown Houston. Phase I of Austin Point is set to break ground in 2024 and will include the construction of 400 homes. These residences will be built on smaller lots in an alley-loaded format, in sizes ranging from 1,300 to 4,500 square feet. The project team for Phase I includes Ashton Woods, Beazer Homes, Drees Homes, Castlerock, David Weekley Homes, Newmark Homes, Perry Homes, William David Homes and Westin Homes. Sales of homes in Phase I are expected to begin in spring 2025. Plans for Austin Point also include a community event space dubbed The 1824 — a nod to the year that the original landowner received the title to the development site. The space will include a café and wine bar with an open front porch, outdoor …

September 22, 2023

Development Leasing Activity Office Texas

KDC, Pacific Elm to Develop 500,000 SF Office Building in Uptown Dallas, Sign BoA as Anchor Tenant

by Taylor Williams September 21, 2023

DALLAS — A partnership between two locally based developers, KDC and Pacific Elm Properties, will develop Parkside, a 500,000-square-foot office building that will be located at the corner of North Harwood Street and Woodall Rodgers Freeway in Uptown Dallas. Bank of America has committed to be the building’s anchor tenant with a 238,000-square-foot lease, and upon move-in, the building will become known as Bank of America Tower at Parkside. Construction is scheduled to begin before the end of the year, with delivery slated for the first half of 2027. Corgan is the project architect. Andy Leatherman of JLL represented Bank of America in the lease negotiations. Aarica Mims of KDC and Sara Terry of Pacific Elm Properties represented ownership on an internal basis.

September 21, 2023

Build-to-Rent Development Loans Single-Family Rental Texas

Empire Group of Cos. Breaks Ground on 276-Unit Build-to-Rent Project in Hutto, Texas

by Taylor Williams September 21, 2023

HUTTO, TEXAS — Arizona-based developer Empire Group of Cos. has broken ground on Village at Hutto Station, a 276-unit build-to-rent residential project that will be located on the northern outskirts of Austin. Village at Hutto Station will offer one-, two- and three-bedroom homes with private backyards. Residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is expected to last about two years and is being financed by a $62.4 million loan from Arbor Realty Trust. Tower Capital, an Arizona-based boutique advisory firm, arranged the construction debt. Empire Group of Cos. acquired the 30.6-acre site last fall for $11 million.

September 21, 2023

Acquisitions Industrial Texas

Fort Capital Acquires 258,999 SF Industrial Portfolio in Houston

by Taylor Williams September 21, 2023

HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a 258,999-square-foot industrial portfolio in Houston. The portfolio consists of five Class B, light industrial buildings with a total of 97 units that are located across three different unnamed sites. The portfolio was 81 percent leased at the time of sale. The seller and sales price were not disclosed.

September 21, 2023

Acquisitions Industrial Texas

Colliers Brokers Sale of 127,000 SF Industrial Building in Northeast Houston

by Taylor Williams September 21, 2023

HOUSTON — Colliers has brokered the sale of a 127,000-square-foot industrial building in northeast Houston. The shallow-bay building, known as Northport Business Park, sits on an eight-acre site at 7101-7157 N. Loop E. Jason Scholtz of Colliers represented the buyer, Harbor Capital, in the transaction. Jason Gandy and Derrick Jones represented the seller, Sealy & Co., on an internal basis. The sales price was not disclosed.

September 21, 2023

Company News Office Texas

Hoar Construction Opens New Office in Abilene, Texas

by Taylor Williams September 21, 2023

ABILENE, TEXAS — General contractor Hoar Construction has opened a new office in the West Texas city of Abilene. The office, which is located at 104 Pine St. and is officially open for business, is the company’s fourth in Texas and 11th nationwide. Hoar Construction’s presence in the Abilene area began in 2006 when it was hired to renovate and expand Abilene Regional Medical Center.

September 21, 2023

Loans Multifamily Texas Walker & Dunlop

Nova Capital Arranges $55.8M in Acquisition Financing for Multifamily Property in Weatherford, Texas

by Taylor Williams September 20, 2023

WEATHERFORD, TEXAS — Los Angeles-based Nova Capital has arranged $55.8 million in acquisition financing for The Mark at Weatherford, a 355-unit multifamily property located on the western outskirts of Fort Worth. The financing consists of a $37.8 million Fannie Mae senior loan provided by Walker & Dunlop and $18 million in preferred equity from Los Angeles-based Tryperion Holdings. The complex was constructed on an 11.5-acre site in 2021 and was 94 percent occupied at the time of sale. The Mark at Weatherford offers a mix of one-, two-and three-bedroom floor plans and amenities including a pool, outdoor grilling and dining stations, business center, dog park and a fitness center. Steven Yazdani of Nova Capital arranged the debt on behalf of the borrower, Darwin German Real Estate.

September 20, 2023

Acquisitions Multifamily Texas

JLL Brokers Sale of 300-Unit Wildwood Apartments in Richmond, Texas

by Taylor Williams September 20, 2023

RICHMOND, TEXAS — JLL has brokered the sale of The Wildwood Apartments, a 300-unit multifamily community located within the Veranda master-planned development in the northern Houston suburb of Richmond. Built in 2022, The Wildwood features one- and two-bedroom units with stainless steel appliances, stone countertops and private yards/patios. Amenities include a conservatory, dog parks, package lockers, a clubhouse with library and kitchen, pool and a fitness center. Dustin Selzer of JLL represented the seller, Allen Harrison Co., in the transaction. John Brownlee of JLL arranged acquisition financing through New York Life on behalf of the buyer, Price Realty Corp.

September 20, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 171,398 SF Industrial Lease in McKinney, Texas

by Taylor Williams September 20, 2023

MCKINNEY, TEXAS — Lee & Associates has negotiated a 171,398-square-foot industrial lease in the northern Dallas suburb of McKinney. The tenant, farm equipment and accessories provider Pegasus Industries, will occupy the entirety of Building 4 within McKinney Trade Center, which is currently under construction. Ken Wesson and Adam Graham of Lee & Associates represented the landlord, Chicago-based ML Realty Partners, in the lease negotiations. Brett Lewis, also with Lee & Associates, represented the tenant.

September 20, 2023

Leasing Activity Office Texas

Munsch Hardt Takes Occupancy of 77,009 SF Office Space at Ross Tower in Downtown Dallas

by Taylor Williams September 20, 2023

DALLAS — Law firm Munsch Hardt Kopf & Harr has taken occupancy of its 77,009-square-foot office space at Ross Tower, a 1.1 million-square-foot building located at 500 N. Akard St. in downtown Dallas. The firm relocated from floors 36, 38 and 39, where it leased space since 2005, to floors 40 through 42. The new lease term is 15 years, and the space features a variety of conference room layouts, a work café and an internal stairwell that connects all three floors. HPI Real Estate Services & Investments owns Ross Tower.

September 20, 2023

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