Texas

CloudLoft Management to Develop 120,000 SF Office Complex in Frisco

by Taylor Williams July 2, 2021

FRISCO, TEXAS — Locally based firm CloudLoft Management Inc. will develop The Enclave in Frisco, a 120,000-square-foot office complex that will be located at the northwest quadrant of the North Dallas and Sam Rayburn tollways. The complex will consists of nine low-rise buildings with multiple outdoor workspaces. In addition, the campus will feature basketball and pickleball courts, jogging and walking paths, grill areas and outdoor meeting spaces. Corgan is designing the project, and Dowdey, Anderson & Associates is the civil engineer. A construction timeline was not disclosed. Dallas-based Fults Commercial Real Estate has been tapped as the leasing agent.

July 2, 2021

Acquisitions Multifamily Texas

Cushman & Wakefield Negotiates Sale of 200-Unit Apartment Community Near San Antonio

by Taylor Williams July 2, 2021

CONVERSE, TEXAS — Cushman & Wakefield has negotiated the sale of The Heights at Converse, a 200-unit apartment community in Converse, a northeastern suburb of San Antonio. Built in 2015, the property offers amenities such as a pool, clubhouse, fitness center, cybercafé, dog park and a playground. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Acme Development LLC, in the transaction. The duo also procured the buyer, California-based Investors Management Group, which purchased the asset for an undisclosed price with plans to implement a value-add program. David Bleiweiss of Berkadia originated an undisclosed amount of acquisition financing for the deal.

July 2, 2021

Loans Northmarq Office Texas

NorthMarq Arranges Loan for Refinancing of 281,356 SF Office Building in West Houston

by Taylor Williams July 2, 2021

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of Houston Design Center, a 281,356-square-foot office and showroom on the city’s west side. John Burke of NorthMarq arranged the nonrecourse, fixed-rate loan through an undisclosed regional bank on behalf of the borrower, locally based investment firm MLB Capital Partners.

July 2, 2021

Affordable Housing Loans Multifamily Texas

Greystone Provides $45M Agency Loan to Refinance Affordable Housing Property in Fort Worth

by Taylor Williams July 2, 2021

FORT WORTH, TEXAS — Greystone has provided a $45 million Freddie Mac loan for the refinancing of a 306-unit multifamily property in Fort Worth. Cary Tremper of Greystone originated the financing, which carried a 10-year term, fixed interest rate, 30-year amortization schedule and five years of interest-only payments. The borrower and name of the newly built property were not disclosed.

July 2, 2021

Acquisitions Retail Texas

RealSource Brokers Sale of 3,010 SF Retail Asset Leased to 7-Eleven in Arlington

by Taylor Williams July 2, 2021

ARLINGTON, TEXAS — RealSource Group has brokered the sale of a 3,010-square-foot single-tenant retail property in Arlington that is triple-net leased to 7-Eleven. Austin Blodgett of RealSource, along with ParaSell Inc., represented the seller, a private developer based in Houston. Jeremy McChesney of Hanley Investment Group represented the buyer, a 1031 exchange investor based in Southern California. The asset traded at a cap rate of 4.7 percent. The 7-Eleven store, which includes a fuel station, opened on June 10 to mark the beginning of a new 15-year lease.

July 2, 2021

Development Industrial Texas

United Properties Breaks Ground on 474,000 SF Industrial Project in Metro Austin

by Taylor Williams July 1, 2021

BUDA, TEXAS — Minneapolis-based developer United Properties has broken ground on Phase I of Buda Midway, a project that will add 474,000 square feet of industrial space to the local supply. The site is located at the junction of Interstate 35 and State Highway 45 on the southern outskirts of Austin. Phase I will comprise three buildings — two rear-load facilities each totaling 115,090 square feet and one cross-dock facility totaling 244,285 square feet — on 35.9 acres. Completion of Phase I is slated for early 2022. Project partners include Aquila Commercial, Kimley-Horn Design and Engineering Consultants, Powers Brown Architecture, RC Page Construction and Hitchcock Design Group. Phase II of Buda Midway will include up to three buildings totaling 326,000 square feet. Once finished, the buildings will provide 30- to 36-foot clear heights, ample trailer parking and 200-plus automobile parking spots.

July 1, 2021

Development Healthcare Oklahoma Texas

Saint Francis Health System to Undertake $250M Renovation, Expansion at Tulsa Hospital

by Taylor Williams July 1, 2021

TULSA, OKLA. — Saint Francis Health System will undertake a $250 million renovation and expansion of its Saint Francis Hospital South campus in Tulsa. The healthcare provider has tapped Cushman & Wakefield’s project development and services team to lead the project. Specifically, the team plans to deliver a 51,000-square-foot renovation of imaging spaces and four operating rooms and a 232,600-square-foot expansion that will add four operating rooms, a six-story tower with 124 patient rooms and a 600-space parking garage. Completion of the renovation and expansion is slated for March 2025.

July 1, 2021

Loans Office Texas

Emerald Creek Provides $10.3M Acquisition Loan for Metro Dallas Office Building

by Taylor Williams July 1, 2021

FARMERS BRANCH, TEXAS — Manhattan-based lender Emerald Creek Capital has provided a $10.3 million bridge loan for the acquisition of a 170,915-square-foot office building in the northern Dallas suburb of Farmers Branch. The property sits on eight acres and contains 18 leasable units that are occupied by tenants in the finance, engineering and physical therapy industries. Matt Fantuzzi of Emerald Creek Capital originated the loan on behalf of the undisclosed borrower.

July 1, 2021

Loans Multifamily Texas

Progress Capital Arranges $8M Acquisition Loan for Dallas Apartment Complex

by Taylor Williams July 1, 2021

DALLAS — New Jersey-based mortgage banking firm Progress Capital has arranged an $8 million acquisition loan for Crossings at Lake Highlands, a 98-unit apartment complex in the Lake Highlands area of Dallas. The property offers amenities such as a pool, outdoor kitchen, coffee bar and a dog park. Abe Mann of Progress Capital placed the nonrecourse loan, which was structured with a three-year term plus two one-year extension options and a 78 percent loan-to-cost ratio, through a national debt fund. The borrower, RFM Property Group, plans to implement a capital improvement program.

July 1, 2021

Leasing Activity Office Retail Texas

EVO Entertainment to Open 68,733 SF Venue at Southlake Town Square

by Taylor Williams July 1, 2021

SOUTHLAKE, TEXAS — EVO Entertainment, an Austin-based entertainment concept that combines bowling, movies, games and food and beverages, will open a 68,733-square-foot venue at Southlake Town Square, a 130-acre mixed-use development near Fort Worth. The entertainment center, which is scheduled to open at the end of the year, will be EVO’s first in the Dallas-Fort Worth metroplex. This location will feature a full restaurant and bar with outdoor patio space, seven movie screens, arcade games, bowling lanes, a laser tag arena, rock climbing wall, ropes course and private party rooms. Retail Properties of America, an Illinois-based REIT, owns Southlake Town Square.

July 1, 2021

Newer Posts

Older Posts