Texas

KDC Nears Completion of 1.2 MSF Headquarters for Pioneer Natural Resources in Irving

by Taylor Williams September 13, 2019

IRVING — Developer KDC, in partnership with Verizon, is nearing completion of the new 1.2 million-square-foot headquarters campus in Irving for energy firm Pioneer Natural Resources. Situated on 150 acres within the Hidden Ridge development in the city’s Las Colinas district, the headquarters building stands 10 stories, overlooks a pond and includes a seven-story parking garage. Amenities include a daycare, wellness center and a food hall. Cushman & Wakefield will manage the property. Move-ins are scheduled to begin in November.

September 13, 2019

Acquisitions Industrial Texas

Sealy & Co. Acquires 479,806 SF Distribution Warehouse Near Houston

by Taylor Williams September 13, 2019

WALLER, TEXAS — Sealy & Co., an investment firm headquartered in Dallas and Shreveport, La., has acquired a 479,806-square-foot distribution warehouse in Waller, a northwestern suburb of Houston. The cross-dock property is situated near several major thoroughfares, including U.S. Highway 290, Grand Parkway and Beltway 8. Tom Lynch and Mark Redlingshafer of CBRE worked with Scott Sealy Jr., Jason Gandy and Tom Herter of Sealy & Co. to acquire the asset. The seller was not disclosed.

September 13, 2019

Development Office Texas

NewcrestImage Breaks Ground on 80,000 SF Office Project in Grapevine, Texas

by Taylor Williams September 13, 2019

GRAPEVINE, TEXAS — Locally based hotel developer NewcrestImage has broken ground on an 80,000-square-foot office project in the northern Fort Worth suburb of Grapevine. Upon completion in 10 to 12 months, the company will occupy about a quarter of the building for its headquarters space and lease the remaining 60,000 square feet. The property will be located within SilverLake Crossings, a 52-acre mixed-use development that includes 400 residential units and 30,000 square feet of retail and restaurant space.

September 13, 2019

Loans Multifamily Seniors Housing Texas

CIT Provides $34M Refinancing for Seniors Housing Community Near Houston

by Taylor Williams September 13, 2019

RICHMOND, TEXAS — CIT Group has provided a $34 million loan for an assisted living community in Richmond, approximately 25 miles southwest of Houston. The loan will refinance construction debt on the Delaney at Parkway Lakes, a 207-unit community. The borrower is a joint venture between Blue Moon Capital Partners and Life Care Services (LCS).

September 13, 2019

Acquisitions Retail Texas

STRIVE Negotiates Sale of 58,377 SF Shopping Center in Longview

by Taylor Williams September 13, 2019

LONGVIEW, TEXAS — Dallas-based retail brokerage firm STRIVE has negotiated the sale of High Plaza Shopping Center, a 58,377-square-foot retail center in the East Texas city of Longview. The property is located just north of Interstate 20 and sees traffic counts in excess of 16,500 vehicles per day. STRIVE represented the buyer and seller, both of which were Dallas-based investors, in the transaction.

September 13, 2019

Development Office Texas

Granite Properties to Develop 18-Story Office Building in Plano

by Taylor Williams September 12, 2019

PLANO, TEXAS — Granite Properties, a commercial investment and development firm with five offices around the country, will develop Granite Park Six, an 18-story, 415,000-square-foot office building within the 90-acre Granite Park mixed-use development in Plano. Designed by BOKA Powell, the Class A property will front State Highway 121 and feature a market café, customer lounge with coffee service, a bar, golf simulator, lecture hall, three conference centers and an outdoor amenity deck on the fifth floor. Balfour Beatty is serving as the general contractor for the project, construction of which could begin as early as the first quarter of 2020.

September 12, 2019

Acquisitions Multifamily Texas

SWBC Acquires 348-Unit Apartment Community in Corpus Christi

by Taylor Williams September 12, 2019

CORPUS CHRISTI, TEXAS — SWBC Real Estate has acquired Stoneleigh Apartments, a 348-unit multifamily community in Corpus Christi. Built in phases between 2005 and 2008, the garden-style community features one- and two-bedroom units and amenities such as three pools, a fitness center, communal kitchen and resident clubhouse. Stoneleigh was 95 percent occupied at the time of sale. SWBC will implement a $3.5 million value-add program targeting unit interiors, amenity spaces and building exteriors.

September 12, 2019

Acquisitions Retail Texas

Disney Investment Group Brokers Sale of 129,941 SF Retail Power Center in Temple, Texas

by Taylor Williams September 12, 2019

TEMPLE, TEXAS — Dallas-based Disney Investment Group (DIG) has brokered the sale of Bird Creek Crossing, a 129,941-square-foot retail power center located in the Central Texas city of Temple. Built in 2007 and shadow-anchored by Target and Home Depot, the property was 98 percent leased at the time of sale to tenants such as Best Buy, Michaels, PetSmart and SPEC’s Wine & Spirits. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the private 1031 exchange buyer.

September 12, 2019

Loans Multifamily Texas

Bellwether Enterprise Provides $56M Freddie Mac Acquisition Loan for South Austin Apartments

by Taylor Williams September 12, 2019

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital LLC has provided a $56 million Freddie Mac loan for the acquisition of Bridge at Asher Apartments, a 452-unit community in south Austin. The property is situated on 50 acres at 10505 South Interstate Highway 35 and features amenities such as two pools, a fitness center, game lounge and an outdoor fire pit. Approximately 51 percent of the units are reserved for renters earning 80 percent or less of the area median income. Kevin Bowen of Bellwether originated the loan on behalf of the undisclosed borrower.

September 12, 2019

Loans Multifamily Texas

LMI Capital Arranges Two Loans Totaling $13.5M for Houston Area Apartments

by Taylor Williams September 12, 2019

HOUSTON — LMI Capital, a Real Estate Capital Alliance (RECA) member, has placed two loans totaling $13.5 million for a pair of multifamily assets in the greater Houston area. In the first transaction, Brandon Brown of LMI Capital arranged a $7.5 million loan for the refinancing of a 100-unit property in Fort Bend County. The loan carried a fixed 3.52 percent interest rate and five years of interest-only payments. In the second deal, Kurt Dennis of LMI Capital placed a $6 million loan for a 90-unit community in Texas City. That loan was structured with a fixed interest rate for seven years and three years of interest-only payments.

September 12, 2019

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