This Week’s Houston Deal Sheet: $41.8M Loan Funds Master-Planned Community In Hockley
First Continental, a Houston-based lending company, closed on the largest loan in its 30-year history. The $41.8M loan for Johnson Development Services will fund a master-planned community in Hockley.
The lender and developer identified Hockley as an underserved community in need of housing opportunities. The 318-acre master-planned development will have more than 1,000 homes and 11 acres of recreational and amenity space.
The first set of homes is expected to be delivered in the third quarter of 2025. This is the second project First Continental has closed through its new master-planned community fund and the ninth in collaboration with Johnson Development Services.
The community is south of FM 2920 off of Hopfe Road.
PEOPLE
Frank Blackwood joined Colliers in Houston as a senior vice president focusing on land services. Blackwood has done more than $500M in transactions throughout Greater Houston. He was formerly an industrial broker with Capital Real Estate Commercial and principal and senior director at Lee & Associates.
Blackwood has also traveled to over 40 countries for mission work and founded Every Village, a nonprofit that partners with the people of South Sudan.
SALES
Harbor Capital LLC bought a 50K SF newly developed multitenant industrial park at 5801 Breen Drive in Northwest Houston. Brandon Wuntch and Drew Altmann of Cresa represented the seller, Zermeno GTB LP. Austin Honey, Tim Thomas, Andrew Nguyen and Jace Martin of LandPark Co. represented the buyer.
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Turner & McKiernan purchased a 36.7K SF heavy-crane-served manufacturing campus on 6.25 acres at 28010 FM 2978 in Magnolia. Patrick McKiernan from First Houston Properties brokered the transaction and will market the facility for lease.
LEASES
North America Innovation Tobacco Group leased 11.4K SF at 8807 Emmott Road in Northwest Houston. The landlord, Fort Leasing, was represented internally by Ryan Young.
CONSTRUCTION & DEVELOPMENT
Vero Sade, a Houston-based multifamily development firm, plans to break ground later this summer on a 310-unit multifamily project at 28325 Retail Lane in Rosenberg. The project is in an opportunity zone in Fort Bend County and will deliver units in the first quarter of 2026.
The community will be at the intersection of Interstate 69 and Fairgrounds Road, across from the Fort Bend EpiCenter. The five-building community will have a 6K SF clubhouse, a fitness center, a pool and outdoor recreation areas. Houston-based W Partnership is the project architect, and IBC Bank is providing construction financing.
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San Jacinto College is partnering with Pfluger Architects on its Center for Biotechnology, which is under construction at the college’s North Houston Generation Park campus. It is slated for completion in May.
The project will build training facilities for the field of biotechnology.
THIS & THAT
Gala Design-Studio is opening a 10K SF showroom with kitchen, closet and bathroom furnishings next month at 2222 Westheimer Road. It was designed by Cisneros Design Studio and built by CTC Contractors.
The two-story building is clad in Novowood, a sustainable composite wood alternative.
