RNR Real Estate Briefs – HOU, AUS, DAL & more

RNR Real Estate Briefs from Realty News Report – LEAGUE CITY, Texas — NAI Partners  arranged the sale of Two Harbour Square, a 26,970 SF medical office plaza at 3033 Marina Bay Drive in League City. NAI Partners’ Cary Latham, Wyatt Huff and Jason Gaines represented the seller, LH Harbour Square, LLC., and also procured the buyer, CREATIVE, a Miami -based real estate investment firm.

HOUSTON – Lee & Associates – Houston represented H Greg Investment of California, LLC the buyer of an 82,500-SF former auto dealership on 7.7 acres at 6737 Southwest Freeway, near Hillcroft. Chase Cribbs and Justin Tunnell of Lee & Associates – Houston represented the buyer.

HUMBLE, Texas — New York-based Sunsail Capital and Dallas-based ZaneCREannounced the joint acquisition of Sarah at Lake Houston, a 350-unit community in Humble. The teams are led by Julia Bykhovskaia at Sunsail Capital and Iqbal “Ike”  Mutabanna and Dustin Howard at ZaneCRE. Zack Springer  of Newmark  brokered the transaction. Purvesh Gosalia, also of Newmark, structured the financing.

HOUSTON — NAI Partners’ Cary Latham and Hunter Stockard represented the seller, Pisano Investment Properties, in the sale of a 13,500 SF building at 6719 Theall Road.

HOUSTON Northmarq’s Dallas debt/equity team, led by James Currell, Joel Heikenfeld, and Emily Balazik, arranged acquisition financing for three multifamily properties Houston in Houston. The portfolio, representing a combined 1,134 units, is owned by WindMass Capital. Northmarq negotiated the bridge loan for WindMass. The properties are: the 250-unit Sedona Square, the 312-unit Verano and the 5720unit Rock Cree at Hollow Tree.

HOUSTON — Nan and Company Properties  of Houston has been awarded member status with Luxury Portfolio International, an upscale residential real estate network.

HOUSTON — NAI Partners arranged a 24,300 SF lease for PCI Promatec at 10803 Vinecrest Drive in Houston. NAI Partners’ Chris Caudill represented the tenant. Logan Greer with Insite Realty represented the landlord, EastGroup Properties, LP.

TOMBALL – Clint Hankla of Lee & Associates – Houston represented the seller, PDGL Partners LP, in the sale of 2.8 acres on Spell Circle in Tomball, Texas.

SPRING – Main Bird Hot Chicken leased space at Kleinwood Center at 7316 Louetta Road in Spring, Josh O’Toole with Phillip Edison represented the landlord. Main Bird was represented by Ashley Casterlin of Davis Commercial.

HOUSTON — NAI Partners arranged the sale of a 30,400 SF industrial property at 2034-2038 McAulty Road. NAI Partners’ Zane Carman and Clay Pritchett represented the buyer, Mountain West Capital, LLC. Darin Gosda and Glynn Mireles with CBRE  represented the seller.

HOUSTON — Brain Freeze Daiquiri & Selfie Bar has leased 2,940 SF at 4227 Bellaire Blvd. Melissa Gerber Brams of Gerber Realty represented the landlord, DCSL, LLC, and Tamara Pratt of Champions Real Estate Group represented the tenant.

ANGLETON, Texas — Coastal Boat & RV Storage at 2651 TX-35 in Angleton, has been sold, according to Marcus & Millichap.  The property sits on 20.4 acres and consists of 376 enclosed units

HOUSTON — The Joint, a nationwide chiropractic network of more than 500 locations, has leased space at Gulfgate Center at the northwest corner of Interstate 45 South and Loop 610. Mayur Shah formerly with CBRE,  represented the tenant, and the landlord was represented by Katherine Wildman of Wulfe & Co.

LEAGUE CITY, Texas — DPB Properties Inc. has acquired a 7,637 SF retail building on 1.84 acres at 2502 Gulf Freeway, League City, from Salt & Pepper Restaurants Inc. Jon Jamison and Hugh Ruggles of NewQuest Properties represented the buyer. Marc Peeler of NewQuest represented the seller.

HOUSTON – A four-property, self-storage portfolio in greater Houston has been sold. The asset has 2,199 units and measures 429,169 SF, according to Ford Noe of Marcus & Millichap’s Houston office. The portfolio has other Texas locations at 9000 Westpark Drive and 13001 Veterans Memorial Drive in Houston, 4624 Garth Road in Baytown and 28543 FM 2978 in Magnolia.

HOUSTON – Pacha Nikkei Peruvian & Japanese Fusion leased 4,000 SF in the Carillon Shopping Center at 10001 Westheimer. Owned by Chef Masaru Fukuda, Pacha Nikkei will offer a fusion of Peruvian and Japanese cuisine and is expected to open later in 2022. The tenant was represented by Rick Gutierrez of RESOLUT RE and Katherine Wildman of Wulfe & Co.  represented the landlord.

TEXAS — RNR Real Estate Briefs from Realty News Report

FORT WORTH — The Elm at River Park, a 293-unit, multifamily community in southwest Fort Worth, has been sold by Embrey, the San Antonio-based development firm that built the property. The purchase was made by TA Realty. Embrey Management Services will continue to manage the community, said John Kirk, the firm’s managing director and executive vice president.

AUSTIN — Long View Equity,  in partnership with Endeavor Real Estate Groupannounced the acquisition of a 5.6-acre commercial parcel that fronts Highway 290 W in Austin. The property is in the extra territorial jurisdiction (ETJ) of Dripping Springs. The mixed-use development, called Sawyer Ranch, is planned.

DALLAS  — NexPoint announced that its Cityplace Tower property, a 42-story office building in the Uptown area of Dallas, will serve as the new home of Neiman Marcus Group’s local hub. Cityplace Tower is managed by NexVest Realty Advisors. Forge Commercial represents the building as its leasing agent.

DALLAS – Bradford Commercial Real Estate Services  has landed the leasing assignment for Forest Green Business Park, the newest holding in the North Texas portfolio of California-based Birtcher, Anderson & Davis. Brian Pafford and Kyle Espie of Dallas-based Bradford have assumed leasing duties for the four-building flex project at 9201 Forest Lane and 11836, 11837 and 11857 Judd Court in northeast Dallas. Birtcher, Anderson & Davis acquired the 134,712 SF complex during the second quarter.

COLLEGE STATION, Texas — Waxing the City leased 1,600 SF of retail space in Shops at Tower Point, near Texas 6 in College Station, from B&B Hw-6 Investment, LLC. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. David Keston of BCS Capital Group represented the tenant.

DALLAS – Munsch Hardt Kopf & Harr, P.C., in conjunction with HPI and Stream Realty Partners, recently signed a new, 15-year office lease for its Dallas headquarters in the Ross Tower at 500 N. Akard St. Ross Tower is a 45-story, 1.1-million SF, Class-A office building. Stream Realty officials Craig Wilson, Dan Harris, Randy Cooper and Tim Terrell represented Munsch Hardt in the renewal.

NATIONAL — RNR Real Estate Briefs from Realty News Report

 MIAMI JLL Capital Markets represented the sellers in a $216 million sale of Mary Brickell Village, a 200,503-SF Publix-anchored mixed-use retail center with an 875-space parking garage in Miami’s downtown Brickell district. JLL represented the sellers, Rockpoint and Ivanhoe Cambridge. RPT Realty acquired the center. The JLL Retail team included Danny Finkle,Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores.

DENVER, Colo. — Forum Investment Group,  a Denver-based real estate development and investment firm, along with development partner, Brookhaven Capital Partnersannounced the purchase of a 2.6-acre site at the southwest corner of Colorado Boulevard and I-25, with plans to a develop a five-story, 300-unit multifamily community in that city.  This marks the first joint land acquisition between Forum Investment Group and Brookhaven Capital Partners. Denver-based KEPHART, will design the project

KISSIMMEE, Fla. — New Point Real Estate Capital  has provided a $50,724,000 conventional Freddie Mac multifamily loan on behalf of an affiliate of American Landmark, LLC, to refinance Reunion at 400, a 288-unit community in Kissimmee, Fla. The 10-year, fixed-rate loan was originated by NewPoint’s Marc Cesare  and features six years of interest-only payments. Loan proceeds were used to pay off a bridge loan that was set to mature in June 2023.

LONDON, England — Starwood Capital Group, a global private investment firm, and its operating partner, Avara Oy, have sold a Finnish residential portfolio to Orange Capital Partners. The portfolio consists of about 2,200 apartments and is located across 16 cities, including Helsinki, Finland.

GILBERT, Ariz. — The Wyatt, a 216-unit multifamily community in the Phoenix suburb of Gilbert, was sold to a private buyer from California, reports Thompson Thrift Residential, an affiliate of Thompson Thrift and one of the nation’s leading multifamily developers. Steve Gebing  with Institutional Property Advisors brokered the sale for Thompson Thrift.

PASADENA, Calif. — JRW Realty,  a commercial real estate brokerage that focuses on sourcing net-leased properties on behalf of institutional clients, has helped its buyers acquire $332,928,883 of commercial real estate during the second quarter of 2022, collectively spanning 1.7 million SF of retail, medical and industrial property.

Aug. 6 , 2022 Realty News Report Copyright 2022

Photo: RPT Realty bought the Mary Brickell Village retail center in downtown Miami for $216 million. Courtesy JLL Capital Markets

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RNR Real Estate Briefs are published by Realty News Report



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RNR Real Estate Briefs reported July 30, 2022


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