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Monday, October 19, 2020
Real Estate Real Deals: JLL gains financing for FW apartments

Real Deals: JLL gains financing for FW apartments

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

JLL’s Capital Markets experts on Jan. 12 announced that the company secured acquisition financing for Oakland Hills Apartments, a 332-unit apartment complex at 807 Heights Drive in Fort Worth. Benefit Street Partners provided the loan for S2 Capital.

JLL Capital Markets managing director Mark Brandenburg led the team.

“Multifamily assets in North Texas are extremely attractive to investors right now given the level of job growth and strong economic fundamentals of the region,” said Brandenburg. “As more companies make their way to Dallas-Fort Worth, demand for these types of product will continue to increase. We are thrilled to provide a financing solution for S2 Capital and look forward to continuing our successful partnership.”

S2 Capital, based in Addison, owns several multifamily complexes in Texas and Florida including Xander in Fort Worth.

MOORE COMPLETES WORK

ON DISTRIBUTION CENTER

Bob Moore Construction has finished construction on the Interpoint Distribution Center in Wilmer for Houston-based Skyhawk Partners.

Now available for lease through Colliers International, the new distribution center provides 350,000 square feet of distribution space, with frontage along Interstate 45 within 15 miles of downtown Dallas.

As general contractor, Bob Moore Construction designed the building together with Skyhawk Partners’ selected architect, Alliance Architects.

“We worked closely with Skyhawk Partners to make sure that we knew exactly what they wanted,” said Larry Knox, executive vice president for Bob Moore Construction. “This helped us identify several opportunities to deliver significant cost savings to Skyhawk Partners.”

The property, purchased in partnership by Peter Billipp of Skyhawk Partners and Andy Billipp and Mark Witte of J.A. Billipp Co., was selected for its location, accessibility and visibility, the developers said.

“It had the features we felt were important,” said Peter Billipp, managing director of Skyhawk Partners. “It was just across the highway from the Union Pacific Intermodal, an economic engine for South Dallas; it had great visibility from Interstate 45 and great ingress and egress to the freeway; and it’s in close proximity to some great corporations like Federal Express, Procter & Gamble, Amazon, Shippers Warehouse and more.”

Interpoint Distribution Center is located at 3800 N. Interstate 45.

SALES

All Season’s Brokerage, represented by Russ Webb with Silver Oak Commercial Realty LLC, sold a 6,771-square-foot professional office building at 9292 Huntington Square, North Richland Hills, to 9292 Hunting Square LLC. John Fegan with 9292 Huntington Square LLC represented the buyer.

Trustee of the University Holdings Trust sold 611 University, a 6,404-square-foot retail property in Fort Worth, to Deep Ellum Brewing LLC. Grant Huff with Transwestern represented both buyer and seller.

Transwestern’s Jack Huff and Grant Huff represented the buyer in the purchase of a 3,264-square-foot office property at 1121 Fifth Ave. in Fort Worth.

Grant Huff also represented both parties in the sale of 12,500 square feet of land at 6000 W. Sixth Street in Fort Worth.

TFB Partners Ltd sold 2200 S. Riverside Drive, a 13,325-square-foot industrial property in Fort Worth, to eScreen Environmental. Transwestern’s Todd Hawpe represented the seller. Donnie Rhode of Holt Lunsford represented the buyer.

LEASES

BARSCO Inc. renewed its 10,865-square-foot lease at 3411 Avenue D, Arlington. Clay Balch and Canon Shoults of Holt Lunsford Commercial represented the landlord, ATCAP Partners.

Intermex Products Inc. renewed its 104,000-square-foot lease at 1375 Avenue S, Grand Prairie. Canon Shoults of Holt Lunsford Commercial represented the landlord, Crow Holdings.

Baker Distributing Co. LLC signed a lease for 84,000 square feet of industrial space at Park 20/360, 2500 E. Arbrook Blvd., in Arlington. Transwestern’s John Brewer and Joe Rudd represented the landlord, Ridge Development Co. Jordan Christensen of Tenant Real Estate Advisors represented the tenant.

Summit Midstream Partners signed a lease for 23,609 square feet of industrial space at Park 20/360, 2500 E. Arbrook Blvd., in Arlington. Transwestern’s John Brewer and Joe Rudd represented the landlord, Ridge Development Co.

AutoTrex Parts signed a lease for 14,022 square feet of industrial space at 2727 Premier St. in Fort Worth. Transwestern’s Frank Jester represented both the landlord and the tenant.

Iron Grind LLC has leased 11,850 square feet of retail space at 3541 Alta Mere in Fort Worth. Transwestern’s Alex Bryant represented the tenant.

One Stop Printing signed a lease for 6,137 square feet of office space at 2904 Cullen St. in Fort Worth. Transwestern’s Grant Huff represented the tenant.

Send real deals to Robert Francis at rfrancis@bizpress.net.

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