RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report  – HOUSTON – Winthrop Realty Group  acquired the Copperfield  office portfolio, made up of two Class B buildings in Northwest Houston. The portfolio has a 42,621 SF building at 5870 Highway 6 N and a 51,035 SF building at 15840 FM 529. A partnership led by Winthrop Realty Group  purchased the buildings from Hartman SPE, LLC,  which is managed by Silver Star Properties REIT.


ALVIN, Texas – Partners Real Estate arranged the sale 12.6 acres of land located at 2500 S Bypass 35 in Alvin. Partners’ Alex Makris and Patrick Keegan represented the seller, East Bay Partners, Ltd. and Danny Elliott and Thomas Tyng with CBRE represented the buyer, Culberson Contractors. The property will be used for a 55,000 SF Murdoch’s Ranch and Home store.


PEARLAND, Texas – Sueba USA  has engaged Frankel Development Group  to lease 10,707 SF of retail space at its new 355-unit Ivy Lofts  apartments in Pearland’s Ivy District. Frankel Development Group  will seek a variety of retail tenants, including personal services and boutique fitness, said Bruce Frankel,  the company’s president and CEO. The Ivy Lofts  are just west of Highway 288 less than a mile south of Beltway 8.


HOUSTON — Ryan Hartsell  of Oxford Partners  represented Corpra Care, which leased 2,331 SF at 1011 Highway 6, South Houston. The landlord, New Dawn Energy,  was represented by Michelle Wogan  of Transwestern.


CYPRESS, Texas – Marcus & Millichap  announced the sale of a former CVS building, a 14,605 SF net-leased property at Barker Cypress and Spring Cypress roads. James H. Bell  and Watt Harrison  had the listing. Ford Noe  is regional manager of the firm’s Houston office.


HOUSTON – NewQuest Properties  has shored up Willowbrook Pavilion  as a family fun destination in North Houston by signing a 10-year lease with Florida’s largest amusement vending operator for its Texas inroad. The family-owned facility, Game Time,  leased 69,105 SF in Willowbrook Pavilion,  taking the last piece of iT’Z Entertainment’s  space in the development at 18355 TX 249. The new lease is the result of Game Time’s  acquisition of the anchor tenant’s furniture, fixtures and equipment not only in Houston, but in the Dallas/Fort Worth suburb of Euless.


HOUSTON — Ryan Hartsell  of Oxford Partners  represented Best Life Holdings, Inc.,  doing business as Cenegenics,  in the lease of 2,311 SF at 24 Greenway Plaza.  The landlord, Granite Weslayan Partners, Ltd.,  was represented by Andrew Elliot  of Granite Properties Inc.


HOUSTON – Asset Living, a Houston-based property management firm led by Ryan McGrath, has acquired three real estate management companies in the last 12 months. This expansion brings Asset Living’s portfolio to $55 billion in assets (285,000 units) under management. The acquisitions of BMC Management, Strategic Management Partners, and First Communities Management have expanded Asset Living’s footprint in the Mountain and Southeastern regions. Asset Living now has 8,500 employees.


HOUSTON — Integrated Global Services,  an international provider of surface protection solutions, has leased a 37,981 SF industrial facility at 9404 Zaka Road in Northwest Houston. Jason English of Lee & Associates – Houston   represented the tenant and Zane Carman Partners  represented the landlord


HOUSTON — TSA Wealth Management renewed a 2,000 SF lease at 5718 Westheimer. Oxford Partners’ D.J. Hale  and Rob Adams  represented the tenant. The landlord, 5718 Westheimer Houston Realty,  was represented by Marilyn Guion  of CBRE.


HOUSTON — High-fashion boot brand, City Boots,  is opening a 1,520 SF store in Autry Park,  south of Allen Parkway and east of Shepherd Drive. The store will feature a wall-to-wall rodeo mural hand-painted by Amarillo artist Gabrielle Bivins.


HOUSTON — Oxford Partners  represented Live Oak Resources Management    in the renewal of a 3,407 SF lease at 4900 Woodway. Oxford Partners’ D.J. Hale   represented the tenant. The landlord, Sidra Woodway, LLC,  was represented by Louann Pereira  of Transwestern.


HOUSTON — Central Management, Inc. will manage and lease Village Place Apartments in the Hedwig Village. The property was recently acquired by 35 South Capital. The apartment community consists of 84 units in 13 buildings and is located on a 3.5-acre site near Interstate 10 and Campbell Road. Central Management, Inc. has over 45 years’ experience in the multifamily industry.


HOUSTON — Gekko Inc.  leased 4,391 SF at 5201 Mitchelldale. Oxford Partners’ Britney Barcus  and Dylan Stiteler  represented the tenant. The landlords, PCRIF Mitchelldale, LLC, DRT Barker, LLC and DPJT Partners, LLC,  were represented by Audrey Schulz  of PCR Brokerage. 

 TEXAS — RNR Real Estate Briefs from Realty News Report

SAN MARCOS, Texas — Partners Capital,  the investment platform of Partners Real Estate,  has acquired the 107-room Hilton Garden Inn San Marcos.  This is the first acquisition by Partners Capital’s Hospitality Fund I,  which launched in June 2023. “Our fund has been especially focused on the I-35 corridor between Austin and San Antonio since its inception, given the dramatic growth of the region. We were fortunate to find an institutional-grade asset in a strong market like San Marcos,” said Adam Lair, managing director of Hospitality Fund I.


IRVING, Texas — Freedom Furniture & Design  leased 15,340 SF of flex space in Royal Jetstar Tech Center,  4040 W. Royal Lane, Irving, from Pre DFW Airport, LLC. Jason Finch  and Michael W. Spain  of Bradford Commercial Real Estate Services  represented the landlord. Daniel Rudd  of Avison Young   represented the tenant.


AUSTIN — Cushman & Wakefield’s Dallas Equity, Debt & Structured Finance team  represented Austin-based Epic Real Estate Partners  in the $100 million refinancing of the portfolio of five grocery-anchored retail centers. Properties in the portfolio include: Eagan Towne Centre  in Eagan, Minn.; Ventana Village  of Tucson, Ariz.; Preston Trail Village  at 17194 Preston Road in Dallas; Kauai Village  in Kapaʻa, Hawaii and Cobbler Crossing   in Elgin, Ill.


AUSTIN — Patrinely  and Realterm  are developing a 439,300 SF speculative industrial project consisting of four buildings near State Highway 130 and McAngus Road in Southeast Austin. Patrinely  will market the 34.5-acre project as Airfield 130.  The project is slated for completion in the first quarter of 2025. KBC Advisors,  led by Mo Green, Trey Blasingame  and Will Bost  will handle leasing under the direction of Dennis Tarro  of Patrinely. Catamount Constructors  is the general contractor.


DALLAS – JLL Capital Markets arranged the $175 million facility refinancing for a three-property, 882-unit, Class A multi-housing portfolio. JLL Capital Markets worked on behalf of the borrower, an investment vehicle sponsored by Willow Bridge Property Co., to seed a larger programmatic financing vehicle JLL secured the facility with Fannie Mae and closed on the five-year, fixed-rate initial tranche in January. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. The JLL Capital Markets team was led by Andy Scott and Michael Cosby and associates Bo Beidleman and Ryan Pollack.

NATIONAL — RNR Real Estate Briefs from Realty News Report

NASHVILLE, Tenn. – JLL announced that Equitable Property Company has purchased 44 acres to develop Sewart’s Landing, a mixed-use destination in Smyrna, Tenn. The master plan, which was created in close partnership with Smyrna, includes two medical office buildings including up to 400,000-SF of space, up to 250,000 SF of street-level retail, a 240-key hotel and 75 for-sale townhomes. JLL Senior Associate Kipper Worthington will lead leasing efforts alongside Land Deleot, founder of Equitable Property Company. The project is located in Rutherford County near Highway 41. Said JLL’s Worthington: “We are placing a strategic focus on designing pedestrian-friendly streets with dynamic ground-floor retail and vibrant restaurant patios.”


DOUGLASVILLE, Ga. — Wesley Wells, Jack Gaffney  and John Buckley with Finial Group  handled the purchase of a 32,800 SF building on 4.75 acres that will be part of Finial Group’s Southeast Industrial Aggregation fund,  which is focused on the greater Atlanta  and Middle Tennessee  markets. The property is currently vacant and available for lease. Ani Paulson  and Gerald Robison  with Marcus & Millichap  represented the seller.


SAN FRANCISCO, Calif. — BH Properties  has opened a new regional office in San Francisco that will be led by real estate investment veteran Peter Horn, managing director of acquisitions.


LOS ANGELES, Calif. — Emerging manager American South Fund Management,  a joint venture between SDS Capital Group  and Vintage Realty,   has closed on its American South Real Estate Fund II  with $174 million in equity commitments. ASFM,  through the ASREF I and II funds,  provides preferred equity and equity financing for real estate sponsors with projects in 10 Southern states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas).  The ASREF I and II   funds have committed $106 million to 22 projects, financing 5,147 housing units – 81 percent of them affordable to families at less than 80 percent of the area median income.


Feb.10, 2024 Realty News Report Copyright 2024

Photo by Cynthia Lescalleet, CALpix Copyright 2024

RNR Real Estate Briefs are published by Realty News Report

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