As weather service alerts began days before the impact of Harvey was felt, disaster-response plans were put into action and many home improvement, discount and grocery store retailers were ready to distribute critical supplies. One of these was local supermarket H-E-B, which drew widespread praise for managing to open 60 of its 83 stores in Houston the Sunday after Harvey slammed into Texas as a Category 4 storm. As the calendar flips over a month since the storm hit land and rebuilding begins, the regional economy could get a jolt. Local experts say that a transitory spike in retail sales and construction that comes after every storm will likely offset some of the immediate economic trouble caused by Harvey, according to NAI Partners. The long-term damage is predominantly limited to housing and convenience-oriented small retail businesses located in neighborhood and strip centers.—Lisa Brown

NEWS AND NOTABLES

DENVER—Greysteel announces the opening of its first Colorado office in Denver to accommodate the firm's continuing growth throughout the country. Industry veterans Ryan Floyd and Scott Whitfield have joined Greysteel to spearhead the company's expansion in the region. Floyd will serve as senior director and is charged with leading a Denver team focused on arranging sales and financing for institutional, middle market, and private client multifamily properties throughout the Front Range Corridor. Whitfield has joined as director and will focus primarily on private capital multifamily transactions in the Denver Metro Area. Both Floyd and Whitfield bring an impressive track record to Greysteel with more than 30 years of combined commercial real estate experience, more than $400 million in sold transactions and 260 properties sold since 2015 alone. Investment associate, Logan Wiltse, has also joined the Greysteel Denver team and will work closely with Floyd and Whitfield.

HOUSTON—Transwestern announces Katy Stewart Gragg has joined the firm's Houston office as senior associate on the agency leasing team led by executive vice president Eric Anderson. In this role, she will focus on leasing services, including transaction management and execution, as well as marketing and business development on behalf of clients.

DEAL TRACKER

AUSTIN, TX—Thrive FP, a private equity firm, has purchased two new assisted living centers, prompting the firm to launch a new division. Now, with four senior living properties valued at approximately $110 million-plus in its portfolio, Thrive FP had launching a new sister company called TFP Senior Living which is headed by Anthony Fulco. Thrive recently closed on the sale of Autumn Leaves of Northwest Austin, a 46-bed memory care center at 10025 Anderson Mill Rd. Thrive has already rebranded the property to Pecan Ridge Memory Care, and implemented 12 Oaks Senior Living as the new manager. The other property was located in the Midwest.

BEAUMONT, TX—Transwestern's Houston multifamily investment services group completed the sale of Pindo Pointe, a 164-unit multifamily property at 7390 Pindo Circle. Transwestern managing director Ed Cummins and vice president Ryan Mendez represented the seller, Parkdale Pindo LP Winslow Asset Management LLC purchased the building for an undisclosed price.

COMMERCE CITY, CO—KeyBank Community Development Lending and Investment has provided a total of $46 million in financing to Dominium for the new construction of North Range Crossing, a 216-unit affordable multifamily project. KeyBank arranged for the affordable housing and development company a $32.8 million construction loan and a $13.1 million equity bridge loan using tax-exempt bonds issued by the Colorado Housing and Finance Authority and an allocation of 4% LIHTC credits.

DALLAS—Younger Partners' Kathy Permenter, Trae Anderson and Sarah Savage recently inked 8,192 square feet in leases at Republic Center, at 325 N. St. Paul for the landlord. Stewart Weigand & Owens leased 5,238 square feet. The tenant was represented by Avison Young's Charlie Morris. Ecenta America, Inc. leased 2,954 square feet. The tenant was represented by Dave Perry-Miller's Michael Domke.

DALLAS—CBRE announces 84 Point Coffee, a specialty coffee shop from the founder of Ascension Coffee, has leased 1,500 square feet at Fountain Place for its second location. Supplemented by high-quality grab-and-go food offerings, this craft coffee cafe will be a highlight of the new retail offerings at 1445 Ross Ave. Russell Hayward, founder of Ascension and 84 Point Coffee, is certified as a Licensed Q Grader by the Specialty Coffee Association of America.

DALLAS—The Judge Group leased 5,618 square feet at 3 Park Central in Dallas. The tenant was represented by Bo Estes at Colliers International. The landlord was represented by Kathy Permenter and Sean Dalton at Younger Partners.

FRISCO, TX—With the acquisition of the hard corner at US 380 and Teel Pkwy., land investor Gene McCutchin has amassed an almost 20-acre parcel in the path of one of the fastest growing areas of the Metroplex. Younger Partners' land division broker Ben McCutchin represented the buyer, who happens to also be his brother. The buyer purchased 9.9 acres to add the hard corner to his existing acreage.

FORT WORTH—Valliance Bank leased 2,794 square feet at 777 Main St. The landlord was represented by Transwestern's Whit Kelly. The tenant was represented by Sean Dalton at Younger Partners.

HOUSTON—NAI Partners Investment Fund, part of the investor services division of Houston-based full-service commercial real estate services firm NAI Partners, has successfully closed on two significant properties in Texas via its NAI Investment Fund I vehicle. In the first transaction, the fund acquired 11301 Fallbrook Dr., a 61,165-square-foot medical office building located directly adjacent to the Cypress Fairbanks Medical Center in Northwest Houston. The second sale marks the fund's first foray into San Antonio, with the purchase of Marymont Office Park, an 85,368-square-foot office building located in Northeast San Antonio directly adjacent to NE Loop 410. In the 11301 Fallbrook Dr. acquisition, Pappas worked with Tyler Ford of HFF to secure debt financing, with equity funded 100% by NAI Investment Fund I. Jack Russo and Blake Virgilio of Caldwell Companies represented the seller, Iron Creek Ventures. 11301 Fallbrook Dr. is situated directly South of the Cypress Fairbanks Medical Center, and is currently 60.8% leased to a diverse roster of physicians, pharmacies and healthcare providers. The NAI Investment Fund is committed to substantial capital improvements to the property and providing a high-quality tenant experience. NAI Partners' Landlord Services division, led by Jim Tainter, will manage and lease the building through that group's property management and office project leasing teams. In the Marymont Office Park transaction, Pappas and Adam Hawkins of NAI Investment Fund sourced, negotiated, and closed the transaction. NAI Partners partnered with Brent Reed of Amegy Bank for debt financing, with 100% of equity funded by NAI Investment Fund I. Carrie Caesar of Cushman Wakefield represented the seller, RLA Marymont and DKJ Development. Marymont Park is a four-building, one-story office park located on 2391 NE Loop 410 in Northeast San Antonio. The NAI Investment Fund has allocated significant capital towards infrastructure and aesthetic improvements and is committed to adding value for Marymont's tenants and providing quality office space in the Northeast submarket of San Antonio. Josh Welch of NAI Partners' Landlord Services division will manage the building, with leasing handled by Clare Flesher and Mitchell Lyons of NAI Partners' San Antonio office.

IRVING, TX—Three deals totaling 4,079 square feet were signed at Dallas Communications Complex. The landlord was represented by Trae Anderson and Sarah Savage at Younger Partners in all three deals. Techgene Solutions LLC leased 1,776 square feet at Dallas Communications Complex 2. The tenant was represented by Sharon Friedberg at Fischer & Company. Vensiti Inc leased 567 square feet at Dallas Communications Complex 2. The tenant was represented by Sharon Friedberg at Fischer & Company. Krishna K. Garimella leased 1,736 square feet at Dallas Communications Complex 3.

LONGMONT, CO—NewMark Merrill Mountain States closed a $62,000,000 refinancing and completion of the Village at the Peaks, a 442,000 square foot shopping center in Boulder County. After a five year development process involving a public/private partnership with the city of Longmont, Village at the Peaks opened at more than 90% leased, representing almost $100 million in investment, generating more than 500 new jobs.

WICHITA FALLS, TX—Rowan Properties is pleased to announce the closing of the 208-unit Wellington on the Lake Apartments built in 1998. Rowan Properties exclusively listed Wellington on the Lake, and went under LOI within one week of putting the property on the market. The buyer was an investment group out of Lubbock, also brought in by Rowan Properties.

NEWS AND NOTABLES

DEAL TRACKER

FORT WORTH—Valliance Bank leased 2,794 square feet at 777 Main St. The landlord was represented by Transwestern's Whit Kelly. The tenant was represented by Sean Dalton at Younger Partners.

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Middle Market Digest: This Week in the South and Mountain Regions

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