This Week's Houston Deal Sheet

Caldwell Communities is developing the largest active-adult, master-planned community to hit the Houston market. Chambers Creek Ranch, a 1,200-acre gated residential community in Willis, will be made up of more than 3,000 homes designed for those 55 and older. 

The community will feature over 100 acres of resort-style amenities such as a wellness and fitness center, miles of walking trails, nature reserves, a recreational lake, a golf course designed by golf legend Tom Lehman and an on-site marina with direct boat access to Lake Conroe. 

“Chambers Creek Ranch is by far the most beautiful land we’ve ever developed,” Caldwell Cos. CEO Fred Caldwell said in a release. “The rolling hills and unobstructed 20-mile views are truly unique for our region."

The company is selecting builders from around the country. Homes will be priced from the $200Ks to over $1M. 

EXECS

Nicole Grabow and Wesley Salazar were promoted to first vice presidents of landscape architecture firm Kudela & Weinheimer. After 11 years with the firm, Grabow will oversee the day-to-day of business operations, human resources, marketing and business development in Houston. She will be the company's first female vice president. Salazar's role has evolved over his 12 years with the firm from project architect to project manager. He specializes in developing landscape architecture for a variety of project types in the Central Texas area. He is based in the San Antonio office. 

***

Ric Guenther was promoted to senior vice president of Patrinely Group. He is based in Houston and will lead design, development and project management activities for the company's multifamily investments and selected commercial and mixed-use projects. He has more than 35 years of experience in design and project management. He joined the company in 2011.

***

John Havrilchak was hired as vice president of appeals of Tax Recourse LLC. He will lead the appeals team and expand the company's ligations footprint for clients. He has over 20 years of experience in handling commercial, residential and industrial tax matters throughout North America. 

***

John Nicholson was hired as principal for the industrial advisers team of Colliers International. Bringing nearly 20 years of experience, he specializes in tenant representation for logistics companies, manufacturing and corporate users. He has completed over 700 transactions totaling over $1B in value and been recognized as one of the top brokers in the industry. Colliers has been steadily growing its industrial team.   

SALES

Imeri Enterprises Inc. acquired La Quinta Inn & Suites Rosenburg at 28332 Southwest Freeway. Gayatri International LLC sold the 56-room asset. CBRE's Michael Yu, Rahul Bijlani, Tyler Bean, Dennis Drake and Manasvini Sridhar arranged the deal.  

***

An undisclosed buyer purchased Mattress One, an 11K SF net-lease property at 20210 Highway 59 North in Humble. Marcus & Millichap’s Nate Newman represented the buyer and the seller, a family trust from Florida. 

***

An undisclosed buyer acquired Kindred Humble, a two-story, 46-bed free-standing inpatient rehabilitation hospital near the Memorial Hermann Northeast Hospital campus in Humble. The 56K SF facility is near two acute care hospitals that discharge patients requiring admissions to a rehabilitation hospital. JLL's Steve Leathers, Mindy Berman, Brian Bacharach and Anthony Sardo represented the undisclosed seller. 

Auerbach Funds and Blue Magma Residential purchased Park Texas Apartments, a 79K SF, Class-C apartment in southeast Houston. The property’s 587 units include 249 that are uninhabitable — they were damaged due to a variety of factors including Hurricane Harvey. The partnership plans to make a substantial investment, including repairing the defunct units, renovating the clubhouse and performing roof and mechanical repairs, landscaping, and driveway and common area improvements. The property is at 11911 Martin Luther King Jr. Blvd. 

***

Gulf BK LLC purchased Brookhollow West Business Park at 9777 West Gulf Bank, Houston. The 252K SF building is on 15.5 acres at the intersection of West Gulf Bank and North Gessner Road. Abco Industrial Properties represented the buyer. Colliers International's Walter Menuet and Judd Harrison represented the seller, CUNA Mutual Investment Corp. 

LEASES

RES LLC leased 21K SF of office space at 6575 West Loop South, Bellaire. The company will relocate its headquarters. CBRE's Kevin Kushner and William Padon represented the tenant. Madison Marquette's John Spafford represented the landlord, Keppel-KBC West Loop I and II Inc. 

***

Desi Brothers inked an 18K SF lease at First Colony Marketplace at 4620 Highway 6, Sugar Land. Retail Solutions' Ray Kang represented the tenant. Fidelis Realty Partners' Julia Alston represented the landlord. 

***

SI Granite inked a 16K SF office lease at 4849 Cranswick Road in northwest Houston. First Houston Properties' Patrick McKiernan represented the landlord and the tenant. 

***

MaSTherCell U.S. LLC signed a 32K SF office lease at 253 Medical Center Blvd., Webster. The company, a cell and gene therapy contract development and manufacturing organization, is expanding into the U.S. with its third global facility. Transwestern's Robby Winston represented the tenant. CBRE's Brandy Bellow Spinks represented the landlord, Virtus Real Estate Capital. 

***

Nippon Pillar Corporation of America inked a 53K SF office lease to relocate and expand at 13810 Hollister Road, Houston. CBRE's Patrick Rollins represented the tenant. Insite Realty represented the landlord, Eastgroup Properties L.P.

***

R&L Entertainment LLC leased 12K SF at Steeplechase Plaza at 11037 FM 1960 in Jersey Village. The Jersey Village location of Kanga's Indoor Playcenter will be only the third to open in the United States and the second in Texas. Colliers International's Elena Bakina represented the landlord, 1948 Real Estate Holdings LLC.  Executive Texas Realty represented the tenant. 

FINANCING

LMI Capital placed financing for five multifamily acquisitions:  

• An undisclosed borrower purchased two apartment complexes totaling 50 units in east Houston. Kurt Dennis represented the borrower. 
• An undisclosed borrower acquired a 200-unit asset in southwest Houston with an $11M bridge loan, which was originated by Jamie Safier.
• An undisclosed borrower secured a $5.5M loan for a 50-unit, Class-A asset and a second loan for a 110-unit asset in the Galleria area. Brandon Brown represented the borrower. 

DEVELOPMENT

Marcel will host Groundbreaking for a Cause on March 20. The program celebrates economic development growth while also supporting local charitable organizations. During its inaugural event at the groundbreaking of Cross Creek Town Center, the company revealed six local nonprofit organizations that will receive a $5K donation. The organizations include Joe Joe Bear Foundation, Fulshear Police Foundation, Katy Area YMCA, Katy Christian Ministries, Katy ISD Education Foundation and Lamar Educational Awards Foundation. The town center is within Johnson Development's Cross Creek master-planned community in Fulshear. 

***

The Howard Hughes Corp. will donate $1K for each home sold between March 1 and April 30 within Bridgeland, an 11,400-acre master-planned community in Cypress, and Howard Hughes-managed communities in The Woodlands and The Woodlands Hills. The charities set to benefit from this initiative include Cy-Hope, Cy-Fair Educational Foundation, Montgomery County Community Foundation, YES to Youth and the Leukemia & Lymphoma Society. 

***

Danner's Inc. is moving its headquarters from the east side of Houston to Pasadena at 3551 Pasadena Blvd. The company, which specializes in security and maritime services, has been in its location since 1939.