RNR Real Estate Briefs from Realty News Report – HOUSTON — 1906 Heights, LLC, has purchased a 3,600 SF office at 1906 Heights Blvd., Houston, to relocate its downtown defense attorney law firm. Noah Kruger with Savills Real Estate represented the buyer. The seller, Summit Path Investments, LLC, was represented by Ryan Neyland of Davis Commercial.
STAFFORD, Texas — Edge Capital Markets brokered the sale of a Torchy’s Tacos at 11327 Current Lane in Stafford, near Houston. Chace Henke and Ryan Holliday of Edge represented the seller. Torchy’s Tacos plans to expand to 10 new states and open 100 additional restaurants in the next four years. The corporate lease is backed by Success Foods Management Group, LLC, an 88-unit chain.
HOUSTON — BHW Capital, a boutique Houston-based multifamily developer, recently broke ground on Park on Napoli, a 239-unit luxury Class A multifamily community at Cypresswood and Napoli drives in the Vintage Park submarket of northwest Houston. Park on Napoli is BHW’s fourth multifamily development project in Texas. The property will welcome its first residents in the fall of 2022 and should be fully completed during the first quarter of 2023.
KATY, Texas — Rare N Classic Video Games, a family-owned business that sells retro video games, has leased space in the Mason Village Shopping Center at 21979 Katy Freeway in Katy. The store – its second location in the Houston area — also buys and trades games. The tenant was represented by Leonel Hidalgo of Correra Properties and the landlord was represented by Wes Miller and Kristen Barker of Wulfe & Co.
HOUSTON — Edge Capital Markets brokered the sale of 13150 Breton Ridge in Houston, a recently remodeled 52,525 SF freestanding building on a 4.74-acre tract within the Willowbrook trade area. Micha van Marcke and Chace Henke of Edge represented the seller. The property is surrounded by 6.8 million SF of retail that draws patrons from beyond a 20-mile radius,
HOUSTON – The Teahouse has leased 1,499 SF in Hedwig Village at 9412 Gaylord Drive in Houston. The company, which has 25 business locations in the Houston area, offers a variety of made-to-order premier Boba teas. The landlord was represented by Channing Fatjo of Fidelis Realty Partners and the tenant was represented by Wes Miller of Wulfe & Co.
PEARLAND, Texas — NQC-VAQ Pearland Texas ORA 19, LLC, has acquired a 0.78-acre tract at Shadow Creek Parkway and Kingsley Drive, Pearland, from A-S 143SC Ranch, LP. Brad LyBrand of NewQuest Properties represented the seller.
SAN ANTONIO — CBRE Capital Markets arranged construction financing for the development of Tacara at Dove Creek, a 321-unit apartment community in San Antonio, and Tacara at Gruene, a 300-unit rental complex in New Braunfels, Texas. San Antonio-based Casey Development broke ground on the two Class A garden-style properties this year, with completion expected in the fall 2022. Brent Crawford, David Aaronson and Frances Rogers with CBRE Debt & Structured Finance in Houston arranged the construction financing on behalf of Casey Development.
AUSTIN, Texas — Real Estate investment firm DB Capital has added to its property portfolio in Texas with the acquisition of Laurel Woods, a 150-unit multifamily community in North Austin — its sixth development located in Texas. Lone Star State properties represent about 40 percent of the Los Angeles-based firm’s investment portfolio. Since entering the Austin in 2018, DB Capital has grown its local portfolio to just under 1,000 units and expects to close on another 464 units in Texas in 2021.
LIBERTY HILL, Texas — Tri Pointe Homes purchased 392 lots in Liberty Hill, Texas, within the 688-acre Lariat community. The new dwellings, on 40- to 60-foot lots, will offer innovative designs, various product choices and panoramic views. The homes at Lariat are offered in three collections and range from about 1,600 to 3,000 SF. Upon completion, Lariat will consist of 1,692 single-family homes, a more than $4 million resort-style amenity and activity center and a 12-acre elementary school.
FORT WORTH, Texas — SkyWalker Property Partners has sold a fully leased medical office project in southwest Fort Worth to Ridgeline Capital Partners, LLC. Completed last spring, the 20,200 SF structure was built on the last commercial tract in the Edwards family’s Clearfork West development. Located at 5612 Edwards Ranch Road, the two-story medical office building was developed by SkyWalker Property.
ALLEN, Texas — Andreas Kostifos, former executive chef at The Palm in Dallas, is opening Andreas Prime Steak and Seafood dining location in Allen. Andy Anderson with Restaurant Properties Group represented Andreas Steakhouse-Allen, LP, in the 10-year lease of the 6,500 SF restaurant space at 610 West Bethany Road. Greg Fail of McNeff Commercial Real Estate represented the landlord, Bethany Crossing, Ltd. SkyWalker’s William Welder, an acquisitions associate, represented the seller I Can See Clearfork Now, LLC, a single-purpose entity of SkyWalker’s When Opportunity Knocks investment fund. Representing the Dallas-based buyer were Elliot LaBreche and Abigail Kind of the Easton Group.
EL SEGUNDO, Calif. – In less than 12 months, Haven Realty Capital has leased 100 percent of its first four fully completed build-to-rent (BTR) housing communities representing 304 homes in the greater Atlanta, Georgia metro. The four communities that were under construction at the time — Bella View in Snellville, Trickum Hills in Lawrenceville, The Reserve in Dallas, and Moss Pointe in Canton — were part of a six-community, 537-home BTR portfolio acquired by Haven Realty Capital in partnership with an affiliate of Walton Street Capital, LLC, from builder/developer ResiBuilt in October 2020 for $133.7 million. The remaining two subdivisions, Macland in Dallas and Magnolia Trace in Holly Springs are in the final phases of construction.
HOUSTON — Rising Realty Partners acquired Commerce Center Stafford, a best-in-class multi-use/light industrial park made up of 16 buildings totaling 245,495 SF in southwest Houston. Built between 1996 and 2004, and currently 90 percent occupied, the property benefited from significant leasing activity and rent growth due to its strategic location. The property represents Rising’s first asset in Texas and third industrial property acquisition in the last 12 months. The company also owns and/or manages more than 5 million SF of space in California, Colorado, and Nevada.
“We remain bullish on light, multi-use industrial and logistics spaces in sunbelt states from California to Texas,” said Christopher Rising, the firm’s co-founder and CEO.
Capital for the acquisition was primarily secured through the Rising Investor Platform, the company’s internal platform where accredited investors can partner with Rising to raise limited partnership investment capital. Additional funding was secured through Realty Mogul, a real estate investing platform. Commerce Center Stafford is the third asset acquired as part of the Rising Investor Platform, joining Cheyenne Airport Center in North Las Vegas and 9320 Telstar in El Monte, Calif.
Charlie Strauss, Trent Agnew, Katherine Miller and Jack Moody of JLL Capital Markets represented the seller in the transaction.
Nov. 13, 2021 Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
Houston 2020 Ebook version https://tinyurl.com/4xm7z8b5
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