GREA Closes 851 Multifamily Units in Dallas-Fort Worth Area

GREA (Global Real Estate Advisors) has announced the sale of four multifamily properties in the Dallas-Ft. Worth Metroplex totaling 851 units: Villa Placita, 122 units in Garland; Antigua Village, 152 units in Fort Worth; WaterWalk Las Colinas, 153 units in Irving; and The Club at Fossil Creek, 424 units in Fort Worth.

Mark Allen and Zac Thomas of GREA brokered the sales.

Galatyn Commons Office Campus Brings Newly-renovated Building to Market

Mapletree has appointed Cushman & Wakefield to market the newly renovated Class-A office building within the Galatyn Commons office campus in Richardson. This 215,394-square-foot Class-A block of space is the first availability Galatyn Commons has had in two years.

The new space is one of the four buildings within the Galatyn Commons office campus. This leasing opportunity will complement the other three fully renovated office buildings within the Galatyn Commons Campus by providing the newest features and amenities to assist corporate users with their need to attract and retain employee talent.

The five-story building will appeal to a variety of corporate users. Several tenants, including companies from the financial, healthcare, real estate and aerospace sectors have signed large, long-term leases at Galatyn Commons since the recent renovation at its three other buildings, bringing the campus to 100% leased.

The 800,000-square-foot, four-building Galatyn Commons Class-A office campus is known as the most amenity rich office campus in Richardson. Renovation work within Building-C, located at 2380 Performance Drive, will complete the campus-wide renovations across all four buildings. The renovation work will be completed summer 2023 and Cushman & Wakefield is already in the process of proposing this new leasing opportunity to companies.

Galatyn Commons Campus amenities include the real chef multi-station food hall with 300-seat dining area, coffee shop and grab-and-go food service, 10,000-square-foot fitness and wellness center, outdoor kitchen with grill stations, bocce ball courts, fire pit, outdoor amphitheater with 1,000-seat capacity, outdoor seating and dining areas within vast Wi-Fi outdoor areas, 150 seat conference center, and multiple Wi-Fi enabled lounge and collaboration areas. LEED and WELL certifications are expected to be granted in 2022. The campus also features a food truck court and restaurants within the expanded campus.

Located near the Southeast corner of Highway 75 and 190, the office park provides immediate access to a dense employee base and is located next to the Renaissance Dallas Richardson Hotel, the Galatyn Park DART station, Eisemann Center for Performing Arts, more than 700 apartments and residential units, Spring Creek biking trails and nature reserve, and close access to the CityLine retail area.

Ascent Solutions Brings Cybersecurity to Cypress Waters

JLL is pleased to announce Ascent Solutions as the newest tenant of Cypress Waters located at 2999 Olympus Boulevard in Coppell. With plans to move to the new space in early 2023, Cypress Waters will serve as the company’s cybersecurity epicenter.

Occupying 33,000 square feet and the entirety of the seventh floor, Ascent’s Texas epicenter will bring the proven success of its unique apprenticeship program and build it to scale in the greater DFW area. In addition to being the global hub for education and professional development for the next generation of cybersecurity experts, creating a lower barrier to entry for the best cybersecurity jobs, and filling talent gaps for the world’s largest companies, Ascent will also operate as a world-class cybersecurity center of excellence for the world’s largest organizations; host seminars and innovation workshops with the nation’s foremost cybersecurity thought leaders to develop solutions to the most-pressing cybersecurity problems; and be a global think tank to solve the most difficult cyber challenges in the world.

Ascent’s leadership selected Cypress Waters due to its opportunity to expand across the campus, the breadth of desirable amenities including spacious conference rooms, easy access to neighboring restaurants, retail establishments and DFW airport and a breathtaking view of the Sound. Ascent’s space will also include a custom-built, stadium seating arena to host its interactive events.

Cribb Altman of JLL and Shannon Reilly of Reilly Commercial represented Ascent and Billingsley Company is the developer.

Colliers Mortgage Closes Fannie Mae Loan for The Coventry Apartments in Denton, Texas

The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a Fannie Mae loan for the refinancing of The Coventry Apartments in Denton, Texas. The 240-unit market-rate property was constructed in 2002 and includes 13 three-story buildings, covered parking, a fenced-in dog park, on-site maintenance, a volleyball court, swimming pool, limited gate access, business center, valet trash service, coffee and tea bar, detached garages and detached storage units.

The loan carries a 10-year term and 30-year amortization and was arranged for SPI Coventry 240 DE, LLC.