Texas Real Estate Business

OCT 2017

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

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16 • October 2017 • Texas Real Estate Business www.REBusinessOnline.com A U S T I N & C E N T R A L T E X A S WEITZ, PARTNERS COMPLETE NATION'S LARGEST STUDENT HOUSING PROPERTY NEAR TEXAS A&M COLLEGE STATION, TEXAS — Weitz and development partners Servitas and Texas A&M University have com- pleted Park West, a 50-acre, 3,406-bed student housing property located at 503 George Bush Drive W in College Station. Construction on the 2.2 mil- lion-square-foot property, which is the largest student housing development in the country, began in August 2015 and was completed a week ahead of schedule. Amenities include a coffee shop, volleyball court, jogging trail, game rooms and a convenience store. Servitas will manage the property. EQUITY TO DEVELOP 42,000 SF MEDICAL OFFICE PROPERTY LAKEWAY, TEXAS — Equity LLC will develop a 42,000-square-foot medical office property on 2.8 acres within the Baylor Scott and White-Lakeway Re- gional Medical Center campus in the Austin metro of Lakeway. Premier Family Physicians will serve as the anchor tenant of the new develop- ment, which will include 190 parking spaces. Leasing of the property is ex- pected to commence in January 2019. INVENTRUST ACQUIRES 404,000 SF RETAIL CENTER FOR $112.2 MILLION CEDAR PARK, TEXAS — InvenTrust Properties Corp., an Illinois-based investment firm, has acquired The Parke, a 404,000-square-foot retail power center located in the Austin metro of Cedar Park for approximate- ly $112.2 million. The Whole Foods- anchored center is home to tenants such as Dick's Sporting Goods, Nor- dstrom Rack, Marshalls, DSW, Petco and Ulta Beauty. The seller was not disclosed. CIVITAS CAPITAL, ATLANTIC HOTELS PURCHASE 120-ROOM HOLIDAY INN EXPRESS IN WACO WACO, TEXAS — A partnership be- tween Civitas Capital Group and At- lantic Hotels Group has purchased the 120-room Holiday Inn Express & Suites in Waco. The property is situ- ated within Legends Crossing, a 150- acre mixed-use development near Baylor University's campus. Hotel amenities include 1,922 square feet of meeting space, an indoor pool and a business center. The seller and sales price were not disclosed. SERVITAS BREAKS GROUND ON RESIDENCE HALL AT JUNIOR COLLEGE IN BRENHAM, TEXAS BRENHAM, TEXAS — Servitas LLC, a privately owned student housing developer based in Dallas, has broken ground on a 464-bed, four-story resi- dence hall at Blinn College, a two-year school in Brenham with more than 19,000 students. Situated at the corner of Seager Street and Old Mill Road, the property will feature approxi- mately 9,000 square feet of common space, including study areas, an out- door courtyard and an engineering classroom. Houston-based Kirksey Architecture is designing the project, and El Paso-based Moss & Associates is the general contractor. Servitas ex- pects for students to be able to move in by fall 2018. Raymond James Finan- cial is completing financing for the project on behalf of Servitas. ARA NEWMARK BROKERS SALE OF APARTMENT COMMUNITY IN EAST AUSTIN AUSTIN, TEXAS — ARA Newmark has arranged the sale of 7East, a new 186-room midrise apartment com- munity in east Austin. Pat Jones of ARA Newmark represented the sell- ers, Stonelake Capital Partners and Ardent Residential, in the transaction. The buyer was GF Properties Group, a wholly owned subsidiary of the Southern Ute Indian Tribe Growth Fund. Situated on 1.9 acres near downtown Austin, 7East includes a rooftop lounge and club room, resort- style pool, 24-hour fitness center, busi- ness center with Apple computers and conference room and a leash-free dog park. Unit interiors feature up to 10- foot ceilings, open-concept gourmet kitchens, spa-inspired bathrooms, oversized walk-in closets and down- town views in select units. 35W 820 30 20 35E 635 45 FORT WORTH DALLAS KELLER Keller Economic Development | 1100 Bear Creek Pkwy. | Keller, TX | 817-743-4020 | CityofKeller.com/ED Keller embraces the expansion of the City in an effort to strengthen opportunities for growth in population, jobs and patrons. Conveniently located in the Dallas-Fort Worth metroplex, Keller offers easy connections to three major airports within a 30 mile radius and multiple major highways. Locating your business to the City of Keller will provide an opportunity to thrive in a unique and growing community. The City of Keller offers a warm and welcoming atmosphere, an excellent school system, a wide variety of shopping and dining destinations, and an award-winning hike and bike trail system that stretches more than 23 miles. Keller has been recognized as one of the "Best Small Cities in America" by Wallet Hub, and was listed on the "Top 10 Neighborhoods Overall" list by the Dallas Morning News. YOUR WILL R H T E IV HERE. Fort Worth Alliance Airport DFW Airport Dallas Love Field Airport 35E

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