RNR Real Estate Briefs from Realty News Report –MONTGOMERY, Texas – J. Alan Kent Development has purchased 441 acres near Lake Conroe for a new residential community that will include more than 1,000 lots, according to Newcor. Agents David Alexander and Josh Cheatham of Newcor represented the buyer. The site sits close to the Bentwater gated community. The seller, Forest Timber, was represented by Edge Realty Partners’ Charles Blaschke and Logan Havel.
CYPRESS, Texas — Colliers announced the sale of a 4,596-square-foot commercial building at 14139 Huffmeister Road in Cypress. The buyer, Heritage Presbyterian Church, was represented by Bill Ginder of Caldwell Companies. The seller, Munequita Interests, LLC, was represented by Tom Condon Jr. of Colliers.
HOUSTON — Oxford Partners represented PPM Solutions, Inc., doing business as EPMA, in leasing and relocating to 2,493 square feet at 3555 Timmons Lane. Oxford Partners’ Ryan Hartsell represented the tenant. The landlord, Novel Texas, LLC, was represented by Katy Gragg of Transwestern.
TOMBALL, Texas – Colliers announced the sale of a 48,500-square-foot industrial facility on 7.3 acres at 915 South Cherry Street. The buyer, Dixon Capital LLC, represented itself. The seller, JPL Ventures South Cherry LLC, was represented by Tom Condon Jr. of Colliers.
HOUSTON — Oxford Partners represented Webster Vicknair MacLeod in the sublease of 10,150 square feet at 24 Greenway Plaza. Oxford Partners’ Ryan Hartsell represented the tenant. The sublessor, Wyatt Ranches of Texas, LLC, was represented by Nick Terry of Rifle CRE.
HOUSTON — The Finial Group negotiated a lease for Juan Cleves, operating as P&P Desserts, at 10750 Barker Cypress Road. Chase Tucker and Tyler Holt managed the transaction for the landlord.
HOUSTON — Oxford Partners represented Illinois 3 Properties, LLC, in the sale of a 1,218-square-foot building at 2430 Sunset Blvd. Oxford Partners’ Perry Mazzone and Ryan Hartsell represented the buyer; Lee Kaplan of Compass represented the seller.
TEXAS — RNR Real Estate Briefs from Realty News Report
DALLAS – JLL Capital Markets announced the sale of Richardson Heights, a 201,433-square-foot shopping center in Richardson near US 75. JLL represented the seller, Houston-based Silver Star Properties REIT. The buyer, JAH Realty, acquired the center, which was built in the 1950s. The property is currently 79% leased and includes tenants such as Alamo Drafthouse, TJ Maxx and Half Price Books. The JLL investment sales team included Adam Howells, Chris Gerard, Ben Esterer and Keenan Ryan.
SAN ANTONIO — Wood Partners, in partnership with Germany-based capital partner EIG EuroInvestor, broke ground on Alta Westover Hills. The community will deliver 312 units and is slated for completion in June 2025 at 10718 State Highway 151 on San Antonio’s west side.
DALLAS – JLL Capital Markets completed the sale of Churchill Tower, a Class A office building totaling 277,187 square feet at 12400 Coit Road. JLL represented the seller and procured the buyer, TXRE Properties. The JLL Investment Sales and Advisory team representing the seller was led by Todd Savage, Ben Esterer, Megan Babovec and Andrew Griffin. Justin Smith and Kolby Dickerson represented the buyer, TXRE Properties.
DENTON, Texas – Hillwood, part of the Perot Companies, finalized plans for Hunter Ranch, a large mixed-use development in Denton. The 3,200-acre project, located at I-35W and Robson Ranch Road, is a joint effort by Hillwood Communities and Hillwood Properties. Hunter Ranch is one of the original landholdings the Perot family acquired in 1987.
AUSTIN – CBRE arranged a lease renewal for the law firm Foley & Lardner LLP at 600 Congress Ave. in Downtown Austin. The firm secured 15,458 square feet. Robert Copito, Nate Stricklen and Jay Austin of CBRE represented Foley & Lardner.
FORT WORTH — F.O.H. Events, LLC leased a 23,465-square-foot industrial building at 8803 Forum Way from Dundee Investments, LLC. Shane Benner of Bradford Commercial Real Estate Services represented the tenant. Benson Williams of Lancarte Commercial represented the landlord.
AUSTIN – JT Magen, a national construction firm, completed a full office renovation for video game developer Owlchemy Labs in Austin. Revel Architecture assisted on the 8,079-square-foot project.
ELGIN, Texas — Partners Real Estate arranged the sale of two acres on County Line Road in Elgin. Partners’ Kevin Murphy represented the seller, Linda Nolen. The buyer, Lee Petroleum, was represented by Mike and Eric Weiss.
DALLAS — Texas Republic Management is expanding its North Dallas holdings with several strategic acquisitions. TRM purchased 150 acres adjacent to Centurion American’s new “Cottonwood” development in Howe, near the recently announced TI and GlobiTech chip plants, and an additional 224 acres along the Golden Corridor. TRM, founded by Dallas oilman Ben Weber, Jr., has been actively investing across Collin, Grayson and Denton counties since 2016.
NATIONAL — RNR Real Estate Briefs from Realty News Report
NASHVILLE, Tenn. – Lion Real Estate Group, LLC, a Dallas-based multifamily investment firm, acquired Bradford Woods, a 312-unit apartment community in the Nashville market. Lion plans to rebrand the property as The Grove Brentwood. Ben Kriegsman serves as Lion Real Estate Group’s director of acquisitions.
WINTER HAVEN, Fla. – The Dallas office of Trez Capital closed a loan for Enright Real Property Company’s new single-family development, Annabelle Estates, in Central Florida. Annabelle Estates spans 96 acres and will include 324 lots in a sought-after neighborhood near Winter Park.
ETC. — RNR Real Estate Briefs from Realty News Report
Investment Bank to Back Partners Real Estate
HOUSTON – Westlake Securities, a prominent lower-middle-market investment bank, will act as exclusive financial advisor to Partners Real Estate of Houston, assisting the firm in securing capital to support its expansion across Texas and the Southeast.
Jon Silberman, CEO of Partners Real Estate, said the financing will support the company’s M&A activity and talent-acquisition efforts as it pursues growth in the commercial real estate markets of Texas and the Southeast. He expressed appreciation for Westlake Securities’ role in structuring the transaction.
With dedicated capital in place, Partners aims to continue strategic expansion in Atlanta, the Southeast and Texas while maintaining leadership in its markets.
“Bringing this capital to the table for Partners helps support an important phase of their expansion strategy,” said Matt Andersen, Westlake’s CEO. “We are excited to lead ongoing buy-side M&A efforts on behalf of the organization.”
July 20, 2024 Realty News Report Copyright 2024
Photo credit: Ralph Bivins, Realty News Report Copyright 2024
RNR Real Estate Briefs are published by Realty News Report.
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