The Deal Sheet
Austin Deals
EXECUTIVE MOVES
Stream Realty Partners promoted Will Nichols to managing director of the firms industrial leasing division. Additionally, he is tasked with establishing new business pursuits and identifying strategic investment opportunities for both Stream Realty and its clients.
SALES
Retail Solutions' Ryan Hoff represented the buyer of a four-tenant strip center at 1553 FM 685 in Pflugerville. Cassidy Turley San Diego's Michael Campbell represented the seller.
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Behringer Harvard Multifamily REIT I provided equity capital for the construction of the Seven RIO, a 220-unit luxury high-rise multifamily community slated for development in the West Sixth Street District of downtown Austin. The development site is on West Seventh Street, on the northeast corner of its intersection with Rio Grande. Construction on the 24-story luxury tower begins this month. The REIT is partnering with CWS Capital Partners in the project.
LEASES
Stream Realtys Will Nichols and Sam Owen represented Oak Hill BusinessPark at 5321 Industrial Blvd in a 12k SF lease with R2 Sonic.
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CD Adapco inked a 10k SF lease at 10800 Pecan Park Blvd from TSVF I Pecan Park. CBRE Austins Jerry Frey repped the tenant. T. Stacy & Associates Robert Paine repped the landlord.
San Antonio Deals
EXECUTIVE MOVES
USAA Real Estate Co (RealCo) CEO Pat Duncan retired (but will remain on several company boards, including as executive vice chairman of the RealCo board). Len ODonnell, who has been the prez and COO for two years, is now CEO. Len was previously principal and CIO for Crimson Real Estate Fund. RealCo also announced that Bahram Motamedian joined the firm as managing director of portfolio management. He is joining the team leading the USAA Eagle Real Estate Fund. He was with Hines for 17 years, including 10 years in London as managing director for Hines Europe.
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Skanska senior director of business development Josue Reyes was appointed to the Hidalgo County Regional Mobility Authority. Hes a Weslaco native and will work on the execution of SH 365 connecting the Anzalduas and Donna international bridges south of Expressway 83.
SALES
Elliott Partners purchased a 107k SF industrial building at 9707 Broadway from CJL Acquisition, Inc. (Mission City Management). NAI REOCs John Turcotte brokered.
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Dominion Grand Partners I purchased 33 acres at Lost Creek (FM 1560 and Shaenfield Rd.) from NAL Developments. NAI REOCs Ian McAngus brokered.
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LGI Homes purchased 208 acres for the development of over 800 single-family homes in the Luckey Ranch project. The 610-acre community at Loop 1604N and Hwy 90 includes 71 acres zoned for commercial use, which are being marketed for sale and/or development. The Kalikow Group has owned Luckey Ranch since 2007.
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Lone Star Funds purchased ilan, the luxury mixed-use development on I-10 at La Cantera Parkway, as part of a 20-property US portfolio. The 120-acre community opened in 2011 and includes 205k SF of office, a 165-room luxury hotel and spa, 539 apartments, and 35k SF of retail. Lone Star will expand its amenities and services (including a new 5k SF fitness center, two new pools, and a hike and bike trail) and create more community events. CBREs Lindsey Tucker and Steve Thomas handle office leasing and colleague Gene Williams handles retail leasing.
LEASES
River City Flooring leased 6,300 SF in Metro Industrial Park, bringing it to 100% occupancy. Stream Realtys Jason Schnittger repped landlord RLA Advisors.
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Webster University leased 11k SF at One Castle Hills. Stream Realtys Ryan Harrison repped the landlord and JLLs Ben Crawford repped the tenant. This brings the 158k SF office building to 79% occupancy.
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Flamingo Bingo leased 12k SF in Westpark Plaza (6707 NW Loop 410) from landlord BNR-Westpark Plaza SA / World Class Capital Group. NAI REOCs Currin Van Eman brokered.
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Chilis leased 60k SF in Stone Hill Town center at Hwy 130 and SH 45 in Pflugerville. NewQuests Josh Friedlander and Rebecca Le repped the landlord in-house and The Retail Strategy RE Groups Lauren Brunner repped the tenant.
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Integrity Retail Distribution leased 44k SF at the Eisenhauer Building at 4990 Eisenhauer Rd, doubling the size of its previous location. CBREs Josh Aguilar and Rob Burlingame repped the tenant. Josh says the property features large outside storage and trailer parking, which is more often becoming a key requirement for tenants looking in the San Antonio industrial market.
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Club Grand leased 27k SF at Westlakes Village (1305 SW Loop 410).Retail Solutions Tim McBrearty and Eagle Commercials Jerry Marroquin repped the landlord.
CONSTRUCTION & DEVELOPMENT
Live Oak-Gottesman announced the completion of the first phase of renovations on One Village Park, a 48k SF atrium-style garden office building at 14607 San Pedro. Renovations are in response to a significant fire that occurred in June 12. The asset is 96% occupied with 20k SF available. Stream Realtys Carolyn Shaw and Lindsay Meche handle leasing.
FINANCING
Woodbine Development refinanced Hyatt Regency Hill Country Resort and Spa with $89.5M in loans. Morgan Stanley provided $61M in senior debt and Prudential financed a $28.5M mezz loan. Cushman & Wakefields Dan MacDonnell repped Woodbine and Brown McCarroll provided legal counsel. Woodbine has owned the asset for 20 years, and COO/CFO Gregory Mowatt says the property is undergoing a $35M expansion and renovation that will double its indoor function space, triple its pre-function space, add outdoor function space, enhance guest rooms and landscaping, and expand its water park. WATG and Wimberly Interiors are providing interior design services; HKS Hill Glazier Studio is architect of record; Rialto Studio is managing landscape improvements; and Hardin Construction is GC.
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Beech Street Capitals Larry Sneathern closed $15M in Fannie Mae DUS loans to refi a four-apartment portfolio in San Antonio, Dallas, Austin, and San Angelo. The portfolioSolarium Apartments, Village Green Apartments, Encino Park Apartments and La Calera Apartmentstogether total 625 units. The fixed-rate loans have a 10-year term with 30-year amortization. Yield maintenance is seven years.
THIS & THAT
CBRE was selected as the exclusive leasing agent for Legacy Oaks, a medical office complex totaling 223k SF. The tower building is being renovated now by owner MJR-SA Legacy Oaks. Carl Salvato and Lindsey Tucker will handle leasing.
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A subsidiary of Winthrop Realty Trust selected CBRE to lease One Riverwalk Place. The Class-A, 262k SF office building is 65% leased. Taylor Dorris and Steve Thomas will handle the assignment.
Our get up and go must have got up and left. Send thoughts to tonie@bisnow.com for Austin and catie@bisnow.com for San Antonio.
