LEWISVILLE, TEXAS — Locally based developer Centurion American will develop Fronterra, a 35.8-acre mixed-use project that will be located at the intersection of Justin Road and McGee Lane in the northern Dallas suburb of Lewisville. Plans currently call for 200 townhomes, 700 multifamily units, 30,000 square feet of commercial space and five acres of parks and water features. Centurion American, which will develop the project in phases, recently received approval for zoning changes from the City of Lewisville to move forward with the first phase.
FRISCO, TEXAS — Kansas City-based VanTrust Real Estate has completed The Offices Three at Frisco Station, a 210,000-square-foot speculative office project located within the 242-acre Frisco Station mixed-use development north of Dallas. The six-story building offers a fitness center, conference center and a tenant lounge and is located within walking distance of more than 50 retail, restaurant and entertainment options. The property is the third of five office buildings planned for that component of Frisco Station.
WYLIE, TEXAS — Greystone has brokered the sale of Villas at Wylie, a 303-unit apartment community in Wylie, a northeastern suburb of Dallas. Alliance Residential originally developed the property in 2008. The community features one- and two-bedroom units and amenities such as a pool, game room and outdoor grilling areas. Zac Thomas and Sean Reynolds of Greystone represented the seller, Oregon-based Hayden Properties, and procured the buyer, Utah-based Lionel Partners. The sales price was not disclosed.
DALLAS — Palladium USA, a locally based affordable housing developer and operator, is underway on construction of an 87-unit mixed-income property at 2440 Southwell Road in northwest Dallas. The affordable component of the project will include units that are reserved for renters earning between 30 and 60 percent of the area median income. Amenities will include a pool, dog park, hiking trails, conference room, computer lab, kid’s playroom and a fitness center. HEDK is the project architect, and Treymore Construction is the general contractor. Palladium expects to deliver the first units in June 2022.
AUSTIN, TEXAS — Atlanta-based developer Cousins Properties will develop Domain 9, a 335,000-square-foot office building that will be located within The Domain, a mixed-used development on Austin’s north side. Total project costs are anticipated to be about $147 million. Cousins plans to break ground on Domain 9 in the second quarter and to deliver the building in mid-2023. The company’s current office portfolio within the Domain submarket spans 2.1 million square feet and is 98 percent leased.
IRVING, TEXAS — Caterpillar Inc., the Illinois-based manufacturer of construction and mining equipment, will open a new regional office at Williams Square, a 1.4 million-square-foot office campus in Irving. Caterpillar will occupy multiple floors at Williams Square West Tower, one of the campus’ four buildings, with a projected move-in date of early 2022. The square footage of the newly designed office space has not yet been determined. Bill Brokaw and Karch Schreiner internally represented the landlord, a partnership between Apollo Global Real Estate, Vanderbilt Partners and Hillwood Urban, in the lease negotiations. Ned Franke and Matt Heidelbaugh of Cushman & Wakefield represented Caterpillar.
DALLAS — California-based Fenway Capital Advisors has acquired Campbell Centre, a 322,283-square-foot office building located at 8150-8350 N. Central Expressway in Dallas. The 20-story property was originally built in 1978 and was renovated in 1999 and 2009. Amenities include a 6,000-square-foot fitness center with locker rooms, a 70-seat conference facility, deli and a tenant lounge. Fenway Capital Advisors plans to modernize the interior of the building. The seller was not disclosed.
THE WOODLANDS, TEXAS — Tampa-based investment firm American Landmark has purchased Pine Creek Ranch, a 240-unit apartment community located about 30 miles north of Houston in The Woodlands. Built in 2005, the property features one- and two-bedroom units with granite countertops, walk-in closets and individual washers and dryers. Amenities include a pool, resident clubhouse, tennis court and an outdoor picnic area. The seller was not disclosed. American Landmark, which now owns 41 properties in Texas and 17 in the Houston area, will invest $2.7 million in capital improvements and rebrand the community as Stone Creek at The Woodlands.
HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.5 million loan for the refinancing of a 65-unit multifamily property in Houston. The loan was structured with a fixed 3.45 percent interest rate, a 10-year term and three years of interest-only payments. Jamie Safier of MMCC arranged the financing on behalf of the undisclosed borrower. The property name and direct lender were also not disclosed.
AUSTIN, TEXAS — Minneapolis-based Ryan Cos. will develop a 350-unit apartment community within the Mueller District, the 700-acre site of a former airport in Austin. The project will include 2,500 square feet of retail space, and 15 percent of the units will be reserved for renters earning 60 percent or less of the area median income. Details about the development’s floor plans and amenities were not released. Construction is expected to begin in the fourth quarter.