FRISCO, TEXAS — Hunt Realty Investments Inc. has acquired 2,544 acres in Frisco for the development of a mixed-use project that will include office, retail, single-family, multifamily and educational components. Hunt Realty, along with investors such as Chief Partners LP and Cross-Tie Capital Ltd., acquired the site, known as Headquarters Ranch, from the estate of Bert Fields Jr. Development is expected to begin in 2019. Hunt Realty will serve as master developer alongside Plano-based The Karahan Cos.
DORAL, FLA. — Golf entertainment concept Topgolf will open its second Miami-area location on Friday, Aug. 10. The three-level, 65,000-square-foot venue is located at 11850 N.W. 22nd St. in Doral, roughly 15 miles northwest of Miami. Topgolf features food and beverage options, big screen TVs, private event spaces and music in climate-controlled hitting bays. The entertainment concept has four existing locations in Florida in Jacksonville, Miami Gardens, Orlando and Tampa. The Doral location marks the brand’s 45th venue worldwide.
DALLAS — Richardson-based Hill & Wilkinson has completed FOURTEEN555, a 240,000-square-foot office building located north of Interstate 635 in Dallas. Developed by Cawley Partners, the Class A property is the first of two planned office buildings at 14555 Dallas Parkway. The new office building features amenities such as a full-service restaurant, fitness center and a rooftop terrace. Additional amenities are housed in a separate three-story building known as The Hub. BOKA Powell designed the project, which is currently 50 percent preleased.
NASHVILLE, TENN. — GBT Realty Corp. has completed construction on Belcourt Park, a 76-unit multifamily community located in Nashville’s Hillsboro Village neighborhood. The $20 million project replaced the former home of Belmont Nursing Home, which closed in 2015. Belcourt Park is located across the street from the main entrance to Belmont University and three blocks from Vanderbilt University Medical Center. The four-story development includes a mix of studio to two-bedroom units with monthly rents ranging from $1,500 to $2,500. Community amenities include a Wi-Fi workspace, espresso bar, fitness center, patio with grills and fire pits and resident-only bike racks. Belcourt Park is currently 50 percent occupied after opening for resident move-ins in June.
FORT WORTH, TEXAS — Irving-based Realty Capital Management (RCM) and Atlanta-based ArchCo Residential have broken ground on The Dylan, a 227-unit multifamily community in Fort Worth. The Class A property will also include 12,212 square feet of ground-floor commercial space. Residential amenities will include a pool and a fitness center. Dougherty Mortgage LLC secured a $31.8 million construction loan for the project through HUD’s 221(d)(4) program, the agency’s flagship program for financing the development and redevelopment of market-rate and affordable housing communities. The Dylan is currently slated for a January 2020 completion.
GOLDEN, COLO. — Confluence Cos. is set to break ground on a 107-unit residence hall for undergraduate students on land adjacent to the Colorado School of Mines in Golden. A timeline for development has yet to be announced. Blaylock Van served as sole placement agent on $44.3 million in bond financing for the project. The financing provides staged funding during the construction period and is secured by a leasehold mortgage on the improvements. In this deal, the owner of the land parcel sold it to the state of Colorado on behalf of the Colorado School of Mines, then leased it back through a long-term ground lease and will commence construction this month on the residence hall.
LEXINGTON AND WALTHAM, MASS. — Fantini & Gorga has secured $10.2 million in permanent financing for two retail properties in Lexington and Waltham. The Lexington property was built in 2010 and is located at 46 Bedford St. It features 6,698 square feet of retail space, which is fully leased to a tenant roster including Qdoba and People’s United Bank. The property in Waltham was built in 2013 and is located at 1019 Trapelo Road. It features 9,442 square feet of retail space with a tenant roster that includes Starbucks and PhysiciansOne Urgent Care. Fantini & Gorga arranged the long-term, fixed-rate loan for a local real estate investor and developer through a regional financial institution.
SAVANNAH, GA. — Jacksonville, Fla.-based Chesterfield is underway on a three-building, 1.8 million-square-foot industrial project at the Savannah River International Trade Park, located less than six miles from the Port of Savannah. The Georgia Ports Authority selected Chesterfield to develop the site in late 2017. The total development cost is valued at $100 million. The project includes Lot A, a 1.3 million-square-foot facility for JLA Home, a designer, manufacturer and supplier of home furnishings; Lot B, a warehouse under construction for Averitt Express, a supply chain management company; and Lot C, a 420,000-square-foot speculative, cross-dock facility. Stonemont Financial Group is Chesterfield’s capital partner for the project, which is scheduled for completion in March 2019. Thomas & Hutton is the civil engineer for the entire site. For Lots A and C, Wakefield Beasley Architects is the architect, and Omega Construction is the general contractor.
NEW YORK CITY — Madison Realty Capital has provided a $38 million construction loan for the development of a new hotel in Midtown, Manhattan. The borrower, McSam Hotel Group led by New York developer Sam Chang, is currently constructing a 106,827-square-foot, 28-story building that will feature a 320-key Radisson hotel upon completion. Loan proceeds will be used to finalize construction of the building. The ground-up development is slated for completion in the next 12 months. Terms of the loan were not disclosed.
SPRING BRANCH, TEXAS — REOC Development LLC has recently broken ground on Singing Hills Professional Building, a three-story, 60,000-square-foot medical office building in Spring Branch. The property will be situated at U.S. Highway 281 and Harmony Hills Street, about 30 miles north of downtown San Antonio. Ambulatory Surgical Center (ASC) has leased space on the ground floor, and REOC’s brokerage firm affiliate REOC San Antonio is pursuing an imaging center provider for the remainder of the first floor space. About 65 percent of Singing Hills’ square footage is preleased, according to REOC Development. The project team, including architect Luna Middleman Architects and general contractor Middleman Construction Co., expect to deliver the facility next fall.