This Week's Dallas-Fort Worth Deal Sheet
Caddis acquired a portfolio of three medical office buildings totaling over 120K SF. Two of these properties are in Texas and one is in Atlanta.
Prairie View Medical Plaza is in Flower Mound at 4001 Long Prairie Road. The facility is 43K SF and is fully leased.
“With demand for medical office buildings at an all-time high, we felt this was an opportune time to acquire these excellent assets,” Caddis CEO Jason Signor said in a statement. “They house a wide variety of leading, well-known healthcare providers, they have high occupancy, and they’re in ideal locations near residential neighborhoods and retail venues. They’re also located in high-growth communities with excellent demographics and strong economies. They are a perfect fit for Caddis’ portfolio.”
These properties are being added to Caddis Acquisition Fund I, which already had 12 MOBs in its portfolio.
EXECS
NAI Robert Lynn hired Rick Hopwood as senior vice president of its office division. Hopwood has been in the industry for more than 35 years. Prior to joining NAI Robert Lynn, he worked for a number of different developers and real estate firms and in 2015 he started his own firm, Hopwood Commercial Real Estate.
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Range Realty Advisors opened its doors in Dallas. The new boutique brokerage is led by Chris Burrow, Dillon Cook and Eric Leyendecker. The firm’s team is made up of real estate pros formerly associated with Henry S. Miller Co.’s Land Advisory Group.
SALES
Quail Hollow, a 120-unit multifamily property in Dallas at 9666 Scyene Road, sold to an undisclosed California-based investor. Marcus & Millichap’s Al Silva and Ford Braly represented the seller. Marcus & Millichap’s Al Silva and Mark McCoy secured the buyer.
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Maga Texas Holdings LLC purchased an 11-acre parcel in Hutchins on East Wintergreen Road and South Interstate 45 from DLH Master Parcel #2 LLC. Maga intends to put a hotel on the parcel. Venture Commercial’s Clay Mote represented the seller. Dowdle Real Estate’s Lynn Dowdle represented the buyer.
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FourPoint Student Housing Investments brokered the sale of a three-property student housing portfolio in DFW. The properties are:
- Midtown Denton, a 120-unit property, purchased by an undisclosed buyer.
- Midtown Arlington, a 66-unit property, purchased by RedBridge Capital and Juniper Ridge Partners.
- Edge 55, a 55-unit property in Fort Worth, purchased by RedBridge Capital and Juniper Ridge Partners.
DESIGN AND DEVELOPMENT
The Women’s Business Council-Southwest moved its regional headquarters from Arlington to Las Colinas. Lauckgroup is donating its services to design the new 4,200 SF office space at 5605 North MacArthur Blvd.
LEASES
Galaxy Global Logistics leased 40K SF of industrial space at 850 Jupiter Road in Garland. Lee & Associates’ Brett Lewis and Corbin Blount represented the tenant. Lincoln Property Co.’s Michael Peinado represented the landlord.
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Fagan Logistic Services LLC renewed its 72K SF lease at 1430 Bradley Lane in Carrollton. Holt Lunsford Commercial’s Andrew Gilbert represented the landlord, ATCAP Partners. Cushman & Wakefield’s Adam Curran represented the tenant.
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Centurion Service Group subleased 17K SF of industrial space at 151 Regal Row in Dallas from Michael D. King. Lee & Associates’ Nathan Denton represented the tenant. CBRE’s Tim Vogds represented the sub-landlord.
FINANCING
HFF secured financing for a 197-unit active adult community in Dallas on behalf of Greystar. HFF’s Andy Scott, Michael Cosby, Sarah Anderson, Ryan Maconachy, Chad Lavender and Bill Miller represented Greystar.
