Mixed-use development near the Dallas Cowboys’ headquarters in Frisco sells to REIT

A big part of Frisco Square, a mixed-use development near the Dallas Cowboys’ world headquarters and practice facility, has sold to a publicly-traded real estate investment trust. The purchase includes three office buildings, two apartments with ground-floor retail, a Cinemark movie theater and some additional developable land sites.

In all, an affiliate of Kansas City, Missouri-based Maxus Realty Trust Inc. (OTCMKTS: MRTI) acquired more than 213,000 square feet of Class A office and retail space, along with 144 high-end apartments. Terms of the deal were undisclosed.

Click to read more at Dallas Business Journal.

Guess who has the biggest development pipeline of apartments in the U.S

The hot real estate market has Dallas-Fort Worth apartment developers holding the biggest supply of new apartments in the United States.

But the New Year could bring a new reality for the Big D.

North Texas’ ongoing construction totaling 30,296 apartment units is noticeably down from last year’s peak of 39,700 units in the construction pipeline, but is still significantly more than big markets, such as New York and Los Angeles, said Greg Willett, chief economist for RealPage Inc. (Nasdaq: RP).

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High-end office magnet being developed as part of $150M mixed-use project in DFW

A Dallas-based real estate development and investment firm, which is backed, in part, by former Dallas Cowboys quarterback Troy Aikman, plans to begin a new $150 million mixed-use development in Flower Mound’s Lakeside Business District, which will bring high-end office space, a hotel and apartments to the neighborhood.

The 35-acre mixed-use development, called The Point, at FM 2499 and Silveron Boulevard in Flower Mound, is slated to get underway in fall 2018.

Plans for the project include 215,000 square feet of Class A corporate office space, a 100-room Tru by Hilton hotel and 585 apartments developed by Dallas-based Trammell Crow Residential. The Point could also include additional ground-floor retail and restaurant space, as well as a 5.5-acre green space with pedestrian-friendly walking paths.

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Dallas firm buys Northeast San Antonio medical center

Dallas-based commercial investment firm Ridgeline Capital Partners has purchased the Connally Oaks Medical Center in Northeast San Antonio for an undisclosed amount.

The purchase price of the three-story 42,000-square-foot center was not disclosed. The Bexar County Appraisal District last assessed the property for $6.5 million. The property was purchased by an entity called Partners Medical Investors Ltd.

Click to read more at Dallas Business Journal. 

Global law firm consolidating DFW offices into new Richardson hub

One of the largest corporate immigration law firms in the world plans to consolidate its North Texas offices in Uptown Dallas and Richardson to create a new regional hub — which, in the next few years, will be its largest office.

With the consolidation, San Francisco-based Berry Appleman & Leiden LLP (BAL) plans to bring more than 185 attorneys, paralegals and staff into one office spanning three floors totaling 61,380 square feet in Building A at the former Verizon campus at 2400 N. Glenville in Richardson. It would be the largest of the firm’s 18 global offices.

The West Coast law firm underwent an extensive real estate search of U.S. cities before the firm’s partners selected Richardson for its regional hub based on the city’s proximity to tech firms and a global workforce.

Click to read more at Dallas Business Journal.

San Antonio firm sells two North Texas multifamily properties for $100M

San Antonio-based SWBC Real Estate LLC sold two North Texas multifamily properties to a Virginia-based real estate firm as part of a $100 million package.

The properties, called River Walk Village and Timberview Ranch, were sold to Weinstein Properties, which owns and manages more than 17,000 multifamily units in Virginia, North Carolina and Texas. The transaction was brokered by Will BalthropeDrew Kile and Joey Tumminello of Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI).

Click to read more at Dallas Business Journal.