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
26 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com CONSTRUCTION BEGINS ON GATEWAY TO FALCONHEAD MIXED-USE PROJECT BEE CAVE, TEXAS — Work has begun on a 126,000-square-foot, mixed-used project in the Austin suburb of Bee Cave. The frst phase of the project will consist of 46,000 square feet of retail space. Construction on the frst phase is expected to last 10 months. Imme- diately following, a second phase will begin consisting of an 80,000-square- foot ofce condo concept available to buy or lease. Pathfnder PFP Retail LLC is developing the project, while Austin-based brokerage frm St. Croix Capital Advisors is handling the mar- keting and leasing. Jay Macliver with Construction Strategies Management Group, a sister company to the bro- kerage house, is overseeing construc- tion of the development. Two retailers have signed on board; Pioneer Bank will have a 3,000-square-foot branch, pending regulatory approval. Also Serasana, a day spa, will occupy 3,500 square feet. Southstar Bank is the lender for Gateway to Falconhead, IE2 is the construction frm, Land Strate- gies is the land planner, Gary Shaw is the architect and Garrett Ihnen is the engineer. CORAZON DEVELOPMENT EARNS LEED GOLD CERTIFICATION AUSTIN, TEXAS — The U.S. Green Building Council (USGBC) has awarded LEED Gold certifcation to East Austin's Corazon apartment and retail development. Developed by Austin-based Argyle Residential, the project utilizes high-efciency heating and cooling systems, and each unit features energy-efcient lighting, ap- pliances and hot water heaters. The project also used recycled materials during the construction process, and took steps to minimize construction waste. The LEED scoring system also recognized the walkability and public transit access provided by Corazon's central location, the project's drought- tolerant landscaping and its use of materials and fnishes that promote a healthy indoor environment. ALEX. BROWN REALTY, ASSET CAMPUS HOUSING ACQUIRE STUDENT HOUSING PROJECT SAN MARCOS, TEXAS — Alex. Brown Realty Inc. (ABR) and Asset Campus Housing have acquired a student housing project near the main campus of Texas State University in San Marcos. ABR Chesapeake Fund IV, a value-add real estate fund spon- sored by ABR, invested $4.6 million in the joint venture. The acquisition was fnanced with a frst mortgage loan from Amegy Bank. Currently known as University Springs, the 488-bed student housing property will be re- branded as The Reserve at West Av- enue. A U S T I N & C E N T R A L M&M; ARRANGES SALE OF 32,621 SF SELF-STORAGE, OFFICE WAREHOUSE AND RETAIL FACILITY AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Sheahan Self Storage, a 32,621-square-foot self- storage, ofce warehouse and retail property located in Austin. Justin Miller and Dave Knobler of Marcus & Mil- lichap's Houston ofce marketed the property on behalf of the seller, a partnership. Knobler and Miller secured the buyer, a limited liability company, as well. Sheahan Self Storage is located at 11712 N. Lamar Blvd. in Austin. CORTLAND PARTNERS ACQUIRES CITY VIEW APARTMENTS AUSTIN, TEXAS — Cortland Partners has entered the Aus- tin market with the acquisition of City View Apartments, a 308-unit apartment complex near downtown Austin. At- lanta-based Cortland Partners sought the opportunity to expand its Texas portfolio into Austin, and the company has regional ofces in both Dallas and Houston. City View Apartments is located in Austin's Southeast submarket at 4900 E. Oltorf Drive. Cortland Partners plans to renovate City View. 30 Years In 1984, we founded Heritage Title with a burning desire to serve clients through excellence. It's never been about buildings for us. It's about building relationships. Thirty years later we've gained national respect and our imprint can be found throughout Texas. We continue to work with the largest underwriters to close commercial transactions in Texas and across the nation. Our escrow offcers have more than 300 years of combined experience. We're celebrating our success by continuing to cover all of the details - one closing at a time. A Heritage Of Trust. Service in Texas to Clients Nationwide. heritagetitleofaustin.com Frost Bank Tower • Suite 1500 401 Congress Avenue • Austin, TX 78701 512.505.5000 Heritage Title Company of Austin, Inc. WE'RE BUILDING TRUST