Texas

Berkadia Arranges Sale of 228-Unit Apartment Complex in North Houston

by Taylor Williams September 26, 2022

HOUSTON — Berkadia has arranged the sale of 5 Oaks, a 228-unit apartment complex in North Houston. The property offers one- and two-bedroom units that range in size from 464 to 1,043 square feet and feature in-unit washers and dryers and private balconies/patios. Amenities include a clubroom with social areas, pool with a sundeck and cabanas, resident kitchen with a coffee bar, dog park, fitness center, business center and package lockers. Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Los Angeles-based Haven Realty Capital, in the transaction. Johnny King of Berkadia originated acquisition financing on behalf of the buyer, New York-based Lone Star Capital.

September 26, 2022

Development Office Texas

Cawley Partners to Develop 120,000 SF Office Project in Plano

by Taylor Williams September 26, 2022

PLANO, TEXAS — Dallas-based developer Cawley Partners will break ground in December on Phase II of The Parkwood, a project in Plano that will add 120,000 square feet of office space to the local supply. Phase I of The Parkwood, which also comprises 120,000 square feet, is nearing completion and is fully leased to First United Bank. SFMG Wealth Advisors has also leased 22,000 square feet of the second building. Amenities at The Parkwood include a fitness center, pickleball court, conference centers and rooftop terraces.

September 26, 2022

Loans Lument Multifamily Texas

Lument Provides $34.7M Fannie Mae Acquisition Loan for Metro Dallas Multifamily Property

by Taylor Williams September 26, 2022

DUNCANVILLE, TEXAS — Lument has provided a $34.7 million Fannie Mae acquisition loan for Wexford Townhomes, a 122-unit multifamily property in Duncanville, a southern suburb of Dallas. The 17-building property was built on nine acres in 1984 and renovated in 2016. Michael Curland of Lument originated the 10-year loan, which carries a fixed interest rate, 30-year amortization schedule and five years of interest-only payments, through Fannie Mae’s Green Rewards program on behalf of the undisclosed borrower.

September 26, 2022

Acquisitions Office Retail Texas

M2G Ventures Sells 98,000 SF Mixed-Use Property in Fort Worth

by Taylor Williams September 26, 2022

FORT WORTH, TEXAS — Locally based developer M2G Ventures has sold The Foundry District, a 98,000-square-foot mixed-use property in Fort Worth’s Cultural District. M2G Ventures acquired the former industrial site in 2015 and redeveloped it to feature office, retail and restaurant space, as well as showrooms and an art gallery. The buyer was Charlotte-based Asana Partners. Cushman & Wakefield’s Chris Harden and Kris Von Hohn brokered the transaction.

September 26, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 411-Unit Self-Storage Facility in Odessa, Texas

by Taylor Williams September 23, 2022

ODESSA, TEXAS — Marcus & Millichap has brokered the sale of Advance A-1 Self Storage, a 411-unit facility in the West Texas city of Odessa. The property sits on 3.2 acres at 3151 E. Business Loop 20. Dave Knobler and Mixson Staffel of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a REIT, in the transaction. Both parties requested anonymity.

September 23, 2022

Loans Multifamily Texas

Three Pillars Receives $46M Loan for Refinancing of Two Houston Apartment Communities

by Taylor Williams September 23, 2022

HOUSTON — Locally based investment firm Three Pillars Capital Group has received a $46 million loan for the cash-out refinancing of Mainridge Point and Westridge Gardens, two apartment communities totaling 520 units in Houston. Three Pillars purchased the properties, which offer one- and two-bedroom units, in October 2020 then implemented a series of capital improvements. Upgrades included new countertops, cabinetry, flooring and kitchen and bath fixtures. An undisclosed, California-based bank provided the loan.

September 23, 2022

Acquisitions Retail Texas

Centergy Retail Sells 114,120 SF Left Bank Shopping Center in Fort Worth

by Taylor Williams September 23, 2022

FORT WORTH, TEXAS — Dallas-based developer Centergy Retail has sold Left Bank, a 114,120-square-foot shopping center in Fort Worth. Grocer Tom Thumb anchors the center, which was 98 percent leased at the time of sale. Other tenants include Hopdaddy Burger Bar, Crumbl Cookies, Nékter Juice Bar and Buffalo Wild Wings. Jim Batjer, Chris Cozby, Mark Witcher, Blaine Dozier and Harrison Tye of CBRE represented Centergy in the transaction. The buyer and sales price were not disclosed.

September 23, 2022

Leasing Activity Office Texas

BW Energy Signs 68,000 SF Office Headquarters Lease in Houston

by Taylor Williams September 23, 2022

HOUSTON — BW Energy has signed a 68,000-square-foot office headquarters lease in Houston’s Memorial City district. The locally based oil and gas firm will occupy the top three floors at 9753 Katy Freeway, a 190,000-square-foot building that is under construction and slated for a second-quarter 2023 completion. Brad MacDougall and Warren Alexander represented the landlord, MetroNational, in the lease negotiations. Griff Bandy of Partners represented the tenant.

September 23, 2022

Acquisitions Retail Texas

STRIVE Arranges Sale of 50,267 SF Retail Property in Dallas

by Taylor Williams September 23, 2022

DALLAS — Locally based retail brokerage firm STRIVE has arranged the sale of a 50,267-square-foot retail property in Dallas. The spaces are primarily leased to Burlington and Planet Fitness. Jennifer Pierson and Hudson Lambert of STRIVE represented the seller, a locally based partnership, and procured the buyer, an institutional out-of-state investor, in the transaction.

September 23, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 777-Unit Self-Storage Facility in Houston

by Taylor Williams September 22, 2022

HOUSTON — Marcus & Millichap has brokered the sale of Advantage Storage, a 777-unit facility in Houston. The property sits on 4.2 acres and comprises one climate-controlled building and six modular drive-up buildings for a total of 68,839 net rentable square feet. The average unit size is roughly 100 square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a New York-based limited liability company, in the transaction. Both the seller and the Florida-based buyer requested anonymity.

September 22, 2022

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