RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON – JLL will provide leasing and property management at Skanska’s new 28-story, 375,000-SF Discovery Green office tower, 1550 on the Green in Downtown. Leasing efforts for 1550 on the Green will be led by JLL’s Tyler Garrett and Chrissy Wilson. JLL’s property management efforts will be spearheaded by Connie O’Murray.

HOUSTON – Colliers announced that Affiliated Engineers has finalized the lease of a 6,945 SF at 20 E Greenway Plaza. The tenant, Affiliated Engineers, Inc., was represented by Ray Lopez of Colliers. The landlord, Twenty Greenway Plaza, was represented by Marilyn Guion and Steve Rocher of CBRE.

HOUSTON — Hines, the Houston-based global real estate investment, development and property manager, announced that Hines Securities has completed another Delaware Statutory Trust with HREX Multifamily I DST. The DST owns EMME, a 14-story, 199-unit multifamily asset in Chicago.

SUGAR LAND, Texas — Oxford Partners represented DaCott Energy Services in the sale of the 4,978 SF building at 9914 US 90A, Sugar Land. Oxford Partners’ Ryan Hartsell and Perry Mazzone represented the seller while Jay Bustos of Nan & Company Properties represented the buyer.

HOUSTON — Polygon Physical Therapy leased 2,087 SF of space in the Shadowbriar Retail Center at 12303 Westheimer. The landlord for the center was represented by Ashley Casterlin of Davis Commercial.

CLEVELAND, Texas — Oxford Partners represented BE Plastics in the sale of the 16,000 SF building at 2024 CR 388. Oxford Partners’ Matt Rogers represented the seller while Tim Larson of KW Commercial represented the buyer.

HOUSTON — The HFW Companies, an expanding professional services firm in the architecture and engineering industry, has entered into a new strategic growth partnership with Kuo & Associates, a civil engineering and surveying firm serving Houston and Southeast Texas since 1985.

PEARLAND, Texas – Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company has acquired a mixed-use business park on Broadway Street in Pearland. “The newly renovated property is occupied by a synergistic mix of e-commerce resistant tenants, made up of three separate buildings, featuring a 28,310 SF flex building, 7,287 SF restaurant and 4,000 SF storage warehouse,” said Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments.

HOUSTON — A 4,500-SF office building at 11704 Cypress North Houston Road was purchased by Gracelli Studios, for an office and studio for the social media content company. Gracelli was represented by Dave Jensen of Connect Realty. The sellers, Caroline and Eddie Mann, were represented by Cotton Munson of Davis Commercial.

HOUSTON — Oxford Partners represented Very Best of Texas Inc. in the sublease of 45,590 SF at 7350 Langfield Road. Oxford Partners’ Jacob Summers and Stephen Hazen represented the sublessee while Savannah Smith and Joseph Smith of CBRE represented the sublessor, Cinch Kit, LLC.

TEXAS — RNR Real Estate Briefs from Realty News Report

GEORGETOWN, Texas — Tri Pointe Homes has acquired and broken ground on 108 lots in Wolf Ranch in Georgetown, 30 miles north of Austin. Developed by Hillwood Communities, Wolf Ranch has already completed more than 1,000 single-family homes. Construction of Tri Pointe’s model homes will begin in January 2025. Bryan Havel is division president of Tri Pointe Homes Austin.

IRVING, Texas — Newmark arranged debt financing for the development of Tristar Business Park, a 173,680 SF industrial project near Dallas. Newmark Capital Markets’ Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and William Hairston secured the debt financing from a regional bank on behalf of the ownership, a joint venture between Hopewell Development and MBK Industrial Properties, a division of MBK Real Estate, LLC.

SAN ANTONIO – Finial Group assisted Herin Family Investments in acquiring two properties in San Antonio: 4718 Cotton Belt Drive, a 9,380 SF building and 4223 Dividend Drive, a 12,000 SF structure.

FORT WORTH — Rise48 Equity, a multifamily investment group, bought the 323-unit Copperfield Apartments in Fort Worth. Rise48 Equity plans to invest more than $9 million in revitalizing Copperfield Apartments, which will be rebranded as Rise Spring Pointe.

NATIONAL — RNR Real Estate Briefs from Realty News Report

SARASOTA, Fla. – Steven Ekovich of Leisure Investment Properties Group represented the seller and the buyer in the sale of Lakewood Ranch Golf and Country Club in Sarasota, Fla. The sale included three championship golf courses, two designed by Arnold Palmer. The facility includes two heated pools, 20 pickleball courts and a tennis complex. The club is set in the center of Lakewood Ranch, a 33,000-acre master-planned community developed by SMR.

TORONTO – Avison Young has closed a financial recapitalization transaction with the approval of 100 percent of its financial partners. The transaction reinforces the company’s financial foundation by reducing its financial obligations by more than half and securing additional capital to advance its strategic goals.

CHARLOTTE, N.C. – The Providence Group, a Charlotte-based boutique retail real estate brokerage firm, executed 22 retail transactions totaling more than 250,000 SF in more than 20 markets across the Carolinas.

ETC.

Hines Buys Industrial Portfolio

HOUSTON –  JLL Capital Markets arranged $73.6 million in financing for the acquisition of four industrial assets located in Fremont, CA, Houston, Gouldsboro, PA and Tampa, FL on behalf of Hines.

JLL represented the borrower, Hines U.S. Property Partners, the firm’s flagship commingled U.S. core plus fund.

Half of the portfolio is recently delivered 2022-2023 construction, while the other half has undergone extensive capital expenditures and remodels, resulting in little to no near-term expenditures for Hines. The properties sit in robust industrial parks surrounded by highly trafficked roads (ranging from 40K to 272K Vehicles Per Day) and national tenants such as Coca-Cola, Tesla, Sysco, Costco and Americold. The portfolio is fully occupied.

The JLL Capital Markets Debt Advisory team included Melissa Rose, Colby Mueck, Michael DiCosim, Michael Pagniucci, Taylor Gimian and Analyst Nicole Barba.