Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/591312
10 • November 2015 • Texas Real Estate Business D A L L A S & F O R T W O R T H Overlook Ranch was completed in July 2015 and is located in the AllianceTexas corridor of north Fort Worth. The Class A complex consists of 318 garden-style units. Top 20 Best Places to Live in the U.S. CNN/Money Magazine Top 10 Most Afordable Homes in the U.S. CNN/Money Magazine Top 25 in Best Suburbs List D Magazine FOR LEADERS PRIME SPACE AWARD-WINNING COMMERCIAL DEVELOPMENTS A GROWING, EDUCATED POPULATION BUILDING FOR THE FUTURE UPSCALE LIVING & RECREATION IN THE HEART OF D/FW METROPLEX Keri Samford Economic Development Director 972.624.3127 • edc@thecolonytx.org www.TheColonyEDC.org VISIT US AT ICSC TEXAS BOOTH #1625 SWBC REAL ESTATE SELLS OVERLOOK RANCH FORT WORTH, TEXAS — SWBC Real Estate has sold the Overlook Ranch apartment complex. SWBC Real Estate developed the property in a partnership with American Na- tional Insurance Co. CAF Capital Partners purchased the property in an of-market transaction for an un- disclosed amount. Completed in July 2015, Overlook Ranch is located in the AllianceTexas corridor of north Fort Worth. The Class A complex consists of 318 garden-style units comprising one-, two- and three-bedroom foor- plans. ARA NEWMARK ARRANGES SALE OF 436-UNIT APARTMENT PROPERTY GRAND PRAIRIE, TEXAS — ARA Newmark has arranged the sale of Towns of Riverside, a 436-unit, Class A apartment property located in Grand Prairie. Irvine, Calif.-based Bascom Group was the buyer, and the com- pany plans capital improvements on the property. Towns of Riverside was 96.5 percent occupied at the time of sale. ARA Newmark's Brian O'Boyle, Sr., Brian Murphy and Brian O'Boyle, Jr. led the sales efort on behalf of Ir- vine, Calif.-based Passco Cos. Jamie Leachman of NGKF Capital Markets arranged debt fnancing on the deal. NAI WHEELER ARRANGES SALE OF FORMER WOODWORKERS PARADISE LUMBERTON, TEXAS — NAI Wheel- er has arranged the sale of the former Woodworkers Paradise facility locat- ed in Lumberton. The property spans 6,900 square feet and sits on over 4.5 acres with frontage on Highway 69 and Village Creek Parkway. Direct In- tegrity Services will occupy the facil- ity. Direct Integrity performs pipeline testing services. Lee Wheeler and Eri- ca Goss of NAI Wheeler represented the seller. CABOT PROPERTIES TO DEVELOP INDUSTRIAL SPACE GRAND PRAIRIE, TEXAS — Cabot Properties, a private equity real estate investment frm, has purchased an 18.4-acre site in Grand Prairie. Cabot, along with Stream Realty, plans to develop two Class A industrial build- ings totaling 322,853 square feet de- signed to accommodate tenants from 30,000 to 175,000 square feet. The proj- ect is located at the intersection of Roy Orr and Trinity boulevards in Dallas' Great Southwest industrial submar- ket. Stream Realty will develop and lease the new project branded Trinity Crossing. Steve Riordan of Stream's construction division will oversee the project. The project is expected to break ground this month and will de- liver in the second quarter of 2016. HARWOOD ARRANGES 25,267 SF OFFICE LEASE DALLAS — Real estate developer Harwood International has signed a new lease agreement in the district of Harwood with the law frm Mc- Dermott Will & Emery LLP. The law frm signed a 25,267-square-foot lease at Saint Ann Court. Jihane Boury of Harwood International negotiated the lease with Jim Graham of Colliers In- ternational. McDermott Will & Emery moved from their Turtle Creek ofces to Harwood Sept. 1. With more than 1,000 lawyers, the frm has ofces in Boston, Brussels, Chicago, Dal- las, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Designed by Los Angeles Architect Shimoda Design Group, the 26-story, Class A Saint Ann Court ofers amenities including Saint Ann Restaurant & Bar, The Samurai Collection and Mercat Bistro.