This Week's Dallas-Fort Worth Deal Sheet: Rise48 Equity Plans $3.4M Renovation Of Garland Acquisition

Rise48 Equity plans to rebrand its newly acquired 142-unit multifamily community in Garland as Rise Gateway. The company will also spend more than $3.4M to revitalize the property formerly known as Gateway Place Apartments and increase its value.

“We’re excited to have added a great asset to our DFW portfolio,” Rise48 Equity CEO Zach Haptonstall said in a statement. “This deal presents a great basis with significant upside in a submarket we know well.” 

Haptonstall said the company is focused on executing its business plan and getting to work on the project, which is Rise48 Equity’s 56th property. 

Planned property enhancements include interior upgrades and exterior enhancements. The former will include the addition of updated plumbing fixtures, quartz countertops and contemporary lighting in 57% of the units. Exterior work will include a fresh paint job and the addition of an LED-backlit monument sign. 

Washers and dryers will be installed in every unit. 

PEOPLE

CBRE added Andy Leatherman as vice chairman of its Dallas-Fort Worth advisory and transaction services team. He will represent office occupiers and offer CBRE clients strategic consulting services. Leatherman brings 20 years of experience at JLL to his role.

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Commercial real estate firm Cresa added Rob Saper as a principal with its Supply Chain Advisory Services group. Saper will focus on developing Cresa’s supply chain business across the nation from his base in the firm’s Dallas office. He has more than 30 years of executive experience, most recently with Dexter Axle Co. and Advance Auto Parts.

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IPA Capital Markets, a division of Marcus & Millichap, hired Jeremy Slocumb as a director. Slocumb will be based in Dallas and responsible for arranging equity for institutional clients as well as working with the company’s Texas capital markets and investment sales teams. He was previously with Greysteel, where he co-led its national structured finance team. 

SALES

Shoal Creek Capital Partners sold a 10K SF warehouse at 3251 Oradell Lane in Dallas to Dallas-based D.K.N.E Holdings Ltd. D.K.N.E. plans to use half the space as a warehouse, while the remainder will be occupied by an existing tenant. The buyer was represented by Younger Partners’ Quinn Hanford and Carter T. Crow. Shoal Creek Capital Partners was self-represented by Jack Crow and Wilson Bauer.

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Rockhill Capital & Investments acquired 116 acres in Anna from the Cox family for an undisclosed amount. The Frisco buyer plans to sell fully entitled tracts of the land to homebuilders and multifamily and commercial developers. Construction on 325 single-family lots is expected to start in the second quarter. More than 9 acres on State Highway 5 are under contract to a commercial developer, while the remaining 24 acres are zoned for multifamily development. Younger Partners’ John St. Clair, Tyler Hemenway and Davis Willoughby represented the seller. 

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Disney Investment Group brokered the sale of a nearly 48K SF building leased by Fiesta Mart in Lewisville. Disney Investment Group’s David Disney and Adam Crockett represented the seller, while DuWest represented the buyer. 

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Bendetti purchased a two-property industrial portfolio of more than 114K SF in Arlington for an undisclosed amount. One property is a 35K SF building at 1173 109th St. The other property consists of two buildings of more than 79K SF at 1114-1118 W. Harris Road. Both properties are 100% occupied. Newmark’s Stephen Bailey oversaw the transaction and represented the seller, CanTex, in the off-market deal. 

LEASES

Sun Commercial Roofing leased the more than 47K SF industrial building at 7611 John Carpenter Freeway in Dallas to serve as its office and warehouse facility. Weitzman’s Eddie Liebman represented the landlord, while NAI Robert Lynn’s Chase Miller represented Sun Commercial Roofing. 

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Landsea Homes Corp. signed a nearly 15K SF long-term lease at Tower 1320 in Irving. The space at 1320 Greenway Drive will serve as the company’s DFW division headquarters. Landsea plans to move into the space in the spring, following build-out. The new office will feature an in-house design studio and showroom for homebuyers.

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Stream Realty Partners announced several new leases:

• Penguin Packaging Solutions leased more than 102K SF at Town East Logistics in Mesquite. Stream’s James Mantzuranis and Adam Jones represented landlord Leon Capital. NAI Robert Lynn’s Chase Miller represented Penguin Packaging Solutions.
• United Fine Arts Services leased nearly 64K SF at 4335 N. Beltwood Parkway in Farmers Branch from landlord Longpoint. Stream's Sarah Ozanne and Mac Hall represented the landlord, while Rich Young Co.’s Rich Young represented the tenant.
• Burleson, Pate & Gibson renewed its lease for more than 11K SF at Founders Square in Dallas. Stream's Rhett Miller and Sam Bass represented the landlord, while Cushman & Wakefield’s Bill McClung represented the tenant.

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Office furniture and services provider Elontec LLC signed a lease for a 30K SF warehouse in Dallas as part of an expansion into the Metroplex. Elontec offers products from more than 200 furniture manufacturers along with relocation and technology integration services.  

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The Texas Alcoholic Beverage Commission is growing its presence at Arlington Downs Tower in Arlington. The state agency signed a nearly 12K SF lease renewal to expand at the tower. Bradford Commercial Real Estate Services’ Richmond Collinsworth and Erik Blais represented landlord Bradford ADT Partners LLC, while Swearingen Realty Group’s Jim Montgomery represented the TABC.

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Tokyo Electron U.S. Holdings Inc. signed a more than 12K SF lease at Gateway Central in Denison. Bradford Commercial Real Estate Services’ Richmond Collinsworth and Jared Laake represented landlord Covenant Denison Holdings LLC. HPI Corporate Services’ Kendall King Cantele and Stan Irwin represented the tenant.

CONSTRUCTION AND DEVELOPMENT

Multifamily developer Wood Partners held a grand opening for the 297-unit Alta Park Central multifamily community in North Dallas. The luxury apartment community features amenities such as a community clubhouse, a dog park, a dog spa, a resort swimming pool with a wraparound sun deck, and a business center with conference areas and private workspaces. 

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Multifamily developer JPI broke ground last week on the 343-unit Jefferson Drove garden-style community in Haltom City. More than half of the housing project will be reserved for tenants earning 80% of the area median income. Amenities at Jefferson Drove will include coworking spaces, a fitness center and a resort-style pool. Leasing is slated to begin in Q2 2026.

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StreetLevel Investments broke ground last week on the 120-acre Village at Gateway mixed-use development in Forney.

The first phase of the project, which is inside the 2,000-acre Gateway master-planned development at North Gateway Boulevard and U.S. Highway 80, will include 500K SF of retail space. The first phase is slated to open in summer 2026.

Village at Gateway’s second phase will bring another 200K SF of retail space. The project will eventually include nine outparcels, a multifamily residential component and connectivity to Texas Health Resources’ 50-acre medical campus just to the west.

The project was designed by GFF, while Ridgemont Commercial Construction serves as the general contractor. Edge Realty Partners’ David Copeland and Ryan Griffin are overseeing retail leasing and sales. 

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Holt Lunsford Commercial and Stanton Road Capital announced the renovation of the nearly 673K SF Element Towers office complex in North Dallas. The buildings now feature newly designed lobbies, fitness centers and on-site food services as well as outdoor recreation areas. Element Towers West will also see the addition of Hightower Cafe in the spring.

Entos Design provided architecture and design services, while Arco/Murray was in charge of construction. Holt Lunsford Commercial will oversee leasing efforts at the towers. 

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The first phase of construction for 233 homes is underway at The Preserve development in Frisco. Alford Homes, Coats Homes and Starside Builders began work on the first phase of homes, while future construction is scheduled from Bella Custom Homes, Endurance Homes, Faulkner Perrin Custom Homes, Hawkins-Welwood Homes, Shaddock Custom Builders & Developers, Sharif & Munir Custom Homes and Ventura Custom Homes. The Preserve will be a gated community on 267 acres in the 2,500-acre Fields mixed-use development in North Frisco.

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Moss Construction broke ground on a housing project that will double the capacity of Shiloh Place, a nonprofit serving single mothers in Collin County. The nearly 17K SF facility will feature 16 two-bedroom apartments, replacing existing buildings that are more than 50 years old.

Moss Construction is donating its general contractor project fee to the organization. O’Brien Architects designed the project, while Kimley-Horn will oversee civil planning and landscaping. Jordan & Skala Engineers will handle mechanical, electrical and plumbing engineering, and Strand will provide structural engineering.  

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Kindred Homes unveiled the latest phase of master-planned community Park Trails in Forney. Set to open in January, the expansion will add 48 premium homesites on oversized lots. Community amenities will include a pool, a pond and biking trails. 

FINANCING

Eastern Union arranged $20.4M in refinancing to help with the conversion of a 137-unit hotel in Plano into assisted living community Parkdale Senior Living. The lender’s name wasn't disclosed.

The six-story hotel is on a nearly 2.3-acre site at 700 Central Parkway E. Built in 1984 and renovated in 2005, it most recently operated as a Deluxe Inn. Work on the conversion is slated to be finished in mid-2026. Eastern Union’s Meir Abrahamson originated and managed the transaction.

THIS AND THAT

Evergreen Residential Holdings raised around $1B in capital commitments from an array of investors. Financial services platform Kuvare Holdings also invested in the firm. Evergreen was founded in 2021. The investments will allow Evergreen to continue to scale its equity, lending and property management work.