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

NEWS AND NOTABLES

AUSTIN, TX—Based on a strong talent pool, favorable real estate costs and the city's overall business and tech environment, Austin has topped the global rankings for the second consecutive year in Savills Studley's annual Tech Cities 2017 research program.

AUSTIN, TX—CLEAR Property Management experienced a 24.92% net operating income increase during the first year of leadership by Courtney Gaines, whose one year anniversary in her role as president will be April 2017. During the same time period, the company also enjoyed an overall 9.8% growth in new leases and a 5.6% growth in lease renewals across the entire stabilized portfolio, which is located in the Dallas/Fort Worth, Austin, San Antonio, Houston and Waco metro areas.

DENVER—Ware Malcomb announced Jan Davis has been promoted to director, commercial architecture. Davis joined Ware Malcomb's Denver office as project manager in 2006 and was promoted to studio manager, commercial architecture in 2007. She received a bachelor of fine arts degree from Colorado College and a master of architecture degree from the University of Colorado, Denver.

SAN ANTONIO, TX—Leah Gallagher has been named city leader–San Antonio for Transwestern. In this role, her objectives are to grow Transwestern's San Antonio operations, elevate client services, attract new talent and create new business opportunities for the firm. Gallagher has a 16-year tenure with Transwestern, most recently serving as managing director in the capital markets group based in Austin.

DEAL TRACKER

AUSTIN, TX—Highland placed a $14.5 million construction 90% LTC loan for a University of Texas student housing development, the Ruckus. The structure will be built to seven stories, including 42 units and 167 beds.

DENVER—Holliday Fenoglio Fowler LP arranged $43.3 million in financing for the development of LYND @ Park 17, a mixed-use residential and retail project in the Uptown neighborhood. HFF worked on behalf of the borrower, LYND, to secure the construction loan through a regional bank. LYND @ Park 17 will be situated on a one-acre site at the corner of Park and 17th Avenues to the east of downtown in Denver's City Park West area.

DENVER—Holliday Fenoglio Fowler LP has secured $81.9 million in acquisition financing for Skye 2905 Urban Flats, a 400-unit class-A multi-housing community in the North Union Station neighborhood. HFF worked exclusively on behalf of the borrower, Griffis Residential, to place the 10-year 3.98% fixed-rate loan with five years of interest only with a correspondent life insurance company.

FORT WORTH—Holliday Fenoglio Fowler LP secured acquisition financing for Venue at Hometown, a 209-unit, class-A multi-housing community in the suburb of North Richland Hills. HFF worked exclusively on behalf of the borrower, Venterra Realty to place the seven-year, 4.06% fixed-rate loan with a life insurance company. Venue at Hometown is located at 9012 Courtenay St.

HOUSTON—NAI Partners represented Telephone Square LLC in leasing 2,084 square feet of retail space to Boost Mobile in Glenbrook Square shopping center located at 6332 Telephone Rd. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Telephone Square LLC, during the lease negotiations.

HOUSTON—Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West has sold, according to David H. Luther, first vice president/district manager of Marcus & Millichap. Derek Hargrove, first vice president investments, Justin Miller, first vice president investments, and Davis Hansen, associate, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a partnership, was secured by Hargrove, Miller and Hansen.

HOUSTON—NAI Partners represented Brennan Investments in brokering the sale of 37,500-square-foot industrial warehouse on 5.81 acres located at 431 Bammel Rd. in Bammel 45 Business Park. John Ferruzzo and Chris Kugle, both of NAI Partners, represented the seller in the negotiations, while Clay Peeples of Boyd Commercial represented the buyer, Barracuda Blending & Bottling Inc.

BUILDING BLOCKS

AUSTIN, TX—Spectrum Retirement Communities broke ground on two luxury senior living communities this year, The Enclave at Round Rock Senior Living and The Enclave at Cedar Park Senior Living, creating new high-end living options at an affordable cost. The Enclave at Round Rock Senior Living and The Enclave at Cedar Park Senior Living are scheduled to open in mid-to-late 2018.

GEORGETOWN, TX—Cypress Equities companies commenced construction of Oak Meadows Marketplace, a 11.17-acre grocery-anchored shopping center situated at the southeast corner of Williams Drive and Jim Hogg Rd., just north of Austin. At full build-out, Oak Meadows Marketplace is slated to feature 77,050 square feet of retail and restaurant space. Randalls Food Markets, which had executed a lease for 57,655 square feet, also broke ground on its new Georgetown store at the site.  This new location will showcase a Starbucks, a fresh sushi bar with seating, a full-service pharmacy offering on-site immunizations, a full-service meat and seafood department, an expanded variety of natural and organic selections throughout the store, a full-service floral department, as well as a fuel station and convenience store.

NEWS AND NOTABLES

AUSTIN, TX—Based on a strong talent pool, favorable real estate costs and the city's overall business and tech environment, Austin has topped the global rankings for the second consecutive year in Savills Studley's annual Tech Cities 2017 research program.

AUSTIN, TX—CLEAR Property Management experienced a 24.92% net operating income increase during the first year of leadership by Courtney Gaines, whose one year anniversary in her role as president will be April 2017. During the same time period, the company also enjoyed an overall 9.8% growth in new leases and a 5.6% growth in lease renewals across the entire stabilized portfolio, which is located in the Dallas/Fort Worth, Austin, San Antonio, Houston and Waco metro areas.

DENVER—Ware Malcomb announced Jan Davis has been promoted to director, commercial architecture. Davis joined Ware Malcomb's Denver office as project manager in 2006 and was promoted to studio manager, commercial architecture in 2007. She received a bachelor of fine arts degree from Colorado College and a master of architecture degree from the University of Colorado, Denver.

SAN ANTONIO, TX—Leah Gallagher has been named city leader–San Antonio for Transwestern. In this role, her objectives are to grow Transwestern's San Antonio operations, elevate client services, attract new talent and create new business opportunities for the firm. Gallagher has a 16-year tenure with Transwestern, most recently serving as managing director in the capital markets group based in Austin.

DEAL TRACKER

AUSTIN, TX—Highland placed a $14.5 million construction 90% LTC loan for a University of Texas student housing development, the Ruckus. The structure will be built to seven stories, including 42 units and 167 beds.

DENVER—Holliday Fenoglio Fowler LP arranged $43.3 million in financing for the development of LYND @ Park 17, a mixed-use residential and retail project in the Uptown neighborhood. HFF worked on behalf of the borrower, LYND, to secure the construction loan through a regional bank. LYND @ Park 17 will be situated on a one-acre site at the corner of Park and 17th Avenues to the east of downtown in Denver's City Park West area.

DENVER—Holliday Fenoglio Fowler LP has secured $81.9 million in acquisition financing for Skye 2905 Urban Flats, a 400-unit class-A multi-housing community in the North Union Station neighborhood. HFF worked exclusively on behalf of the borrower, Griffis Residential, to place the 10-year 3.98% fixed-rate loan with five years of interest only with a correspondent life insurance company.

FORT WORTH—Holliday Fenoglio Fowler LP secured acquisition financing for Venue at Hometown, a 209-unit, class-A multi-housing community in the suburb of North Richland Hills. HFF worked exclusively on behalf of the borrower, Venterra Realty to place the seven-year, 4.06% fixed-rate loan with a life insurance company. Venue at Hometown is located at 9012 Courtenay St.

HOUSTON—NAI Partners represented Telephone Square LLC in leasing 2,084 square feet of retail space to Boost Mobile in Glenbrook Square shopping center located at 6332 Telephone Rd. Jason Gaines and Hannah Kaplan of NAI Partners represented the landlord, Telephone Square LLC, during the lease negotiations.

HOUSTON—Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West has sold, according to David H. Luther, first vice president/district manager of Marcus & Millichap. Derek Hargrove, first vice president investments, Justin Miller, first vice president investments, and Davis Hansen, associate, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a partnership, was secured by Hargrove, Miller and Hansen.

HOUSTON—NAI Partners represented Brennan Investments in brokering the sale of 37,500-square-foot industrial warehouse on 5.81 acres located at 431 Bammel Rd. in Bammel 45 Business Park. John Ferruzzo and Chris Kugle, both of NAI Partners, represented the seller in the negotiations, while Clay Peeples of Boyd Commercial represented the buyer, Barracuda Blending & Bottling Inc.

BUILDING BLOCKS

AUSTIN, TX—Spectrum Retirement Communities broke ground on two luxury senior living communities this year, The Enclave at Round Rock Senior Living and The Enclave at Cedar Park Senior Living, creating new high-end living options at an affordable cost. The Enclave at Round Rock Senior Living and The Enclave at Cedar Park Senior Living are scheduled to open in mid-to-late 2018.

GEORGETOWN, TX—Cypress Equities companies commenced construction of Oak Meadows Marketplace, a 11.17-acre grocery-anchored shopping center situated at the southeast corner of Williams Drive and Jim Hogg Rd., just north of Austin. At full build-out, Oak Meadows Marketplace is slated to feature 77,050 square feet of retail and restaurant space. Randalls Food Markets, which had executed a lease for 57,655 square feet, also broke ground on its new Georgetown store at the site.  This new location will showcase a Starbucks, a fresh sushi bar with seating, a full-service pharmacy offering on-site immunizations, a full-service meat and seafood department, an expanded variety of natural and organic selections throughout the store, a full-service floral department, as well as a fuel station and convenience store.