Colliers Mortgage Closes Fannie Mae Loan for The Edmond in Waco

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

Hines Announces Newest Industrial Venture with The Galesi Group

Hines, the global real estate investment, development, and property manager, announced that it has formed a joint venture with The Galesi Group (Galesi) to develop a Class-A industrial and logistics park at the NE corner of Harris Branch Parkway and Parmer Lane in Austin. The site encompasses 150 acres and lies between Harris Branch Parkway and SH 130 and is accessed by both Howard Lane, from the north, and Parmer Lane, from the south.

Phase I of the project is being designed by Powers Brown Architecture and will offer 315,000 square feet of Class-A industrial warehouse space across three buildings. The buildings will feature a sleek, distinctive design while also providing tenants with functional and efficient floor space, all within a controlled business park setting. The park will contain approximately 1.7 million square feet of industrial and logistics space upon full build-out. The venture is located two miles from the Samsung Austin Semiconductor plant, less than one mile from SH 130, and less than 10 miles from downtown Austin as well as the Tesla Gigafactory.

The site is in a PUD with LI Base Zoning and allows for warehouse distribution, light manufacturing, high-tech industrial, and e-commerce fulfillment center uses, among other permitted uses.

Lennar and Icon Announce Visionary 3D-Printed Homes Underway in Georgetown

GEORGETOWN, Texas, Nov. 10, 2022 /PRNewswire/ — Lennar, one of the nation’s leading homebuilders, and ICON, a construction technologies company pioneering large-scale 3D printing, announced today that construction on the largest community of 3D-printed homes is underway and reservations will begin in 2023.

Situated north of Austin in the city of Georgetown’s master-planned community of Wolf Ranch by Hillwood Communities, a Perot company, the 100-home community combines innovative robotics, software and advanced materials to create homes that are technologically advanced, environmentally sustainable and architecturally striking. Each Lennar home in Wolf Ranch is co-designed by the renowned architectural firm BIG-Bjarke Ingels Group. Prices are anticipated to start from the mid-$400,000s.

“We are very pleased to partner with ICON and BIG in building a first-of-its-kind, printed home community that combines innovative designs with sustainable features at an affordable price,” said Stuart Miller, Executive Chairman of Lennar. “Given the housing shortage that persists across the country, it has never been more important to innovate in order to find new methods of construction that will enable greater design flexibility and greater production at affordable prices.”

Click to read more at www.prnewswire.com.

Unique Commercial Condo Concept XSpace Lands in Texas

“It’s an evolution from traditional development”

The story has reached a level of infamy at this point, but it bears repeating. The weekend after Thanksgiving, Byron Smith sat at a Houston restaurant with a margarita in his hand.

“I was in a strip mall, but looking out, I saw a church, a school next to it,
an ugly office building and then a strip club,” he laughs. “I just thought, ‘Well, that’s a bit on the nose, isn’t it?’” Smith and his business partner Tim Manson had been looking for a market to expand their Australian-based XSpace concept.

“Until now, you were either in an office building or a warehouse or self-storage,” says Smith. “We thought there had to be an innovative way to
reimagine how people can use and think about space.”

The result is XSpace, which blurs the lines between commercial and creative space. Success in Australia helped the partners see the gap in the market in America.

“It’s an evolution from traditional commercial development,” Smith says. Click to read more at www.rednews.com.

StreetLights Residential Breaks Ground on Luxury Community in NW Austin

StreetLights Residential, a national design-driven developer of multifamily and mixed-use communities, has broken ground on the fourth phase of a luxury multifamily community in Austin. Located in the rapidly growing Lakeline neighborhood in NW Austin, the new development will have 276 luxury apartment homes. StreetLights has already completed the project’s first two phases, with The Michael opening in 2016 and The Elizabeth opening in 2019, while Phase III, The Asher, broke ground in 2021, and is scheduled to open in the end of 2022.

Residents can choose from several floorplans ranging size from 517 to 1,684 square feet, with studio, one-, two-, and three-bedroom floor plans available. Each apartment home will feature beautiful, thoughtfully designed interiors with granite countertops in the kitchen and bathroom, designer tile finishes, GE grade gas appliances, under-cabinet lighting, and an under-cabinet beverage fridge. Select units will also offer a smart integrated Fabita cooktop, kitchen island hoods, screened-in porches, and private fireplace patios.

The Maris’s interior common area spaces are designed to foster an inviting, comfortable environment for residents to gather, with access to a variety of amenities including a large coworking space, two private coworking offices, a custom coffee bar with a Starbucks coffee machine, a billiards room with a custom pool table a prep kitchen with adjacent private dining, dog washing stations and bike storage. The fitness center includes a separate weights area, flex fitness space designed for yoga and Pilates with an Echelon Reflect mirror and TV, and a fitness patio just off the flex space. Outside, residents have access to a large pool lounge with lounge seating and dining tables. The community’s location offers easy access for residents with a metro rail and bus station in walking distance, along with over two million square feet of retail and restaurant space.

StreetLights Creative Studio is the architect of record for the project and is overseeing all interior design. SLR Construction, LLC, is the general contractor.

Three-building Industrial Park Near Austin Sells

JLL Capital Markets has closed the sale of Buda Midway Phase I, a three-building, 474,465-square-foot, Class-AA industrial park in Buda, Texas.

JLL represented the seller, a joint venture between United Properties and PCCP, LLC, in the sale.

The recently delivered buildings were 100% pre-leased to CED Greentech, Sherri Hill and Four Hands. The buildings make up Phase I of a two-phase industrial park. Buda Midway Phase I is comprised of two rear-load and one cross-dock buildings offering 30- to 36-foot clear heights, 138 dock doors, 60 trailer parking spaces and 678 parking spaces. Phase II of Buda Midway will include four rear-load buildings totaling nearly 390,000 square feet and Building 1 is set for completion in spring 2023.

Situated on 35.29 acres at 1795 Fire Cracker Dr., Buda Midway Phase I is located at the crossroads of State Highway 45 and Interstate 35, one of the region’s most vital north/south thoroughfares that connects Mexico to Austin-San Antonio and Dallas-Fort Worth and beyond to the North Central region of the U.S. As a result, the property has quick access to SH-71 and US Highway 130. The Central Texas location offers tenants the ability to travel to each of the four major Texas markets within three hours or less in addition to nearly five million residents within an hour’s drive of Buda Midway. In addition, the property is located 17 miles from Austin-Bergstrom International Airport and 61 miles from San Antonio International Airport.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Directors Dom Espinosa, Associate Josh Villarreal and Analyst Megan Babovec.