DALLAS — Quiet 3PF, a third-party logistics firm based in Massachusetts, has opened a 550,000-square-foot fulfillment center at 10750 Denton Drive in northwest Dallas. The move added about 400 jobs to the local economy. Greenfield Partners LLC, which acquired Quiet 3PF along with Related Fund Management in 2018, developed the facility.
TEXAS CITY, TEXAS — Oldham Goodwin Group LLC, a development and management firm based in Central Texas, has completed The Huntington at Lago Mar, a 148-unit affordable independent living community in Texas City, located southeast of Houston. Units feature granite countertops, vinyl flooring and individual washer and dryer connections. Communal amenities include a yoga studio, fitness center, community room, theater, pool, outdoor grill area and bocce ball and shuffleboard courts. Construction began in November 2019.
HOUSTON — Transwestern Real Estate Services (TRS) has negotiated the sale of three warehouses totaling 198,663 square feet in Houston. The first property spans 89,000 square feet across four buildings and is located at 15800 Export Plaza. The second facility totals 59,344 square feet and is located at 11940 Brittmoore Park Drive. The third asset consists of 50,319 square feet on a 7.2-acre site at 7211 Gessner Road. Nick Peterson and John Ferruzzo of TRS represented the sellers in all three transactions. The buyers were all undisclosed.
FORT WORTH, TEXAS — PlattPointe Capital LLC, a boutique capital advisory firm, has arranged a $32.5 million senior loan for the construction of a six-building, 226-unit multifamily project in Fort Worth. A local debt fund provided the financing, which was structured with an 80 percent loan-to-cost ratio. The borrower was not disclosed.
DALLAS — Lument has provided a $15.5 million Fannie Mae loan for the refinancing of Redbird Trails Apartments, a 252-unit affordable housing property in South Dallas. The property was built in 1985 and offers one- and two-bedroom units. Approximately 20 percent of the units are reserved for renters earning 50 percent or less of the area median income (AMI), and 80 percent of the residences are reserved for renters earning 60 percent or less of AMI. Chad Musgrove of Lument originated the debt, which carried a 12-year term, fixed interest rate and a 30-year amortization schedule. The undisclosed borrower, which has owned and operated the community since 1992, will use a portion of the proceeds to fund capital improvements.
AUSTIN, TEXAS — California-based Hertz Investment Group has acquired a portfolio of three multifamily properties totaling 422 units in Austin. The portfolio consists of the 132-unit Amor, the 130-unit Feliz and the 160-unit Vida, all of which were built in the 1980s and are located in northwest Austin. The unit mix includes 52 studio, 234 one-bedroom and 136 two-bedroom apartments. Hertz Investment Group plans to implement a capital improvement program across the portfolio. Interior renovations will include quartz countertops, updated vinyl plank flooring and new plumbing. Building exteriors will receive new roofing, courtyard areas with fire pits, new fencing and the additions of dog parks and playgrounds.
DENTON AND FORT WORTH, TEXAS — Newmark has brokered the sale of Attiva Denton and Attiva Park, two seniors housing properties totaling 402 units in North Texas. The first property totals 240 units and is located in Denton, and the second property comprises 162 units and is located on the southern side of Fort Worth. Ryan Maconachy and Chad Lavender of Newmark represented the seller, Atlanta-based multifamily development and investment firm Cortland, in the transaction. The buyer(s) was not disclosed.
DALLAS — The Federal Deposit Insurance Corp. (FDIC) has signed a 163,000-square-foot office lease at Plaza of the Americas, a mixed-use development in the Dallas Arts District that consists of two 25-story towers, a Marriott-branded hotel and 20 retail and restaurant outlets. Keith Lavey, Victoria Abbasi, Charles Dilks, Matt Johnston, Kurt Stout, Connor Faught, Travis Ewert and Mary Stoner with Colliers International represented the tenant in the lease negotiations. Kim Brooks, Justin Miller, Paul Wittorf and Laney Underwood of Transwestern represented the landlord, a partnership between M-M Properties Inc and a fund managed by New York-based Clarion Partners.
WEBSTER, TEXAS — JLL has negotiated the sale of Galaxy II, a 106,168-square-foot office building in Webster, located southeast of Houston. Built in 2009, the five-story complex was fully leased at the time of sale to tenants including United Fire Group, IBI Group and APNetwork. Marty Hogan and Rick Goings of JLL represented the seller, an entity doing business as Houston-MDL LLC, and procured the buyer, an investment group led by TRC Capital Partners LLC. James Brolan of JLL arranged a five-year, fixed-rate acquisition loan through Independent Financial on behalf of the new ownership.
NORMAN, OKLA. — Colliers Mortgage has provided a $10.5 million Fannie Mae loan for the refinancing of a portfolio of market-rate multifamily properties totaling 314 units in Norman. The portfolio consists of five properties — Huntington Creek Apartments, Winshire Square Apartments, Willowbrook Apartments, Saratoga Springs and Sycamore Cottages — all of which are located within 15 miles of downtown Oklahoma City. Colliers originated the seven-year loan on behalf of the borrower, an entity doing business as Teelco Parent LLC.
