Category: News

Colliers Adds Leading Regional Engineering & Design Firm

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TORONTO and SAN ANTONIO, March 10, 2022 (GLOBE NEWSWIRE) — Leading global professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced that its Colliers Engineering & Design (“CED”) business unit has acquired KFW Engineers & Surveying (“KFW”), a San Antonio-based civil engineering, design, and survey firm. The addition will enhance CED’s existing scale and capabilities in Texas and the Southwest. KFW operations will rebrand and be fully integrated into CED’s existing Texas operations by the fourth quarter of 2022. Under Colliers’ unique partnership model, KFW’s senior leadership team have become significant shareholders in the overall CED platform and will lead its growth in the rapidly growing Texas marketplace. Terms of the transaction were not disclosed.

Founded in 2006, KFW’s more than 100 engineers, licensed surveyors, and other professionals support the rapid population growth and related development in southern Texas by providing a fully integrated land development offering, including civil engineering, environmental and surveying services to homebuilders, school systems, and other commercial real estate developers. Click to read more at www.globalnewswire.com.

Industrial Net-leased Portfolio in Houston Markets Sells to Local Investor

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JLL Capital Markets has closed the sale of and arranged acquisition financing for a 72,980-square-foot portfolio comprising three net-leased industrial properties in markets in and around Houston, Texas.

JLL marketed the portfolio for the seller, Finial Group. Houston-based NDP Interests, LLC, acquired the asset. Additionally, JLL worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan with First Community Credit Union.

The portfolio includes buildings located at 9841 Windmill Park Lane in Houston, 20404 Whitewood Drive in Spring and 1114 Seaco Ave. in Deer Park. The single-tenant buildings are fully leased to Global Drilling Support; Forge Systems, Inc. and Intertek USA, Inc. and offer strategic locations in some of the most in-demand and high-growth submarkets within Houston’s Grand Parkway. These mission-critical positions serve major population centers that include about 7.15 million residents within the Houston MSA.

The JLL Capital Markets Investment Sales and Advisory team representing the seller included Senior Managing Director Trent Agnew and Director Charles Strauss.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Michael Johnson.

Marcus & Millichap Arranges Sale of 59-Unit Apartment Building in Fort Worth

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Marcus & Millichap announced the sale of Ridgemont, a 59-unit apartment property located in Fort Worth, Texas.

Associate Jonathan Ochstein, Vice President Investments Matt Aslan, Senior Managing Director Investments Nick Fluellen, Senior Managing Director Investments Bard Hoover and Senior Associate Wesley Racht at Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured by Mr. Ochstein, Mr. Aslan, Mr. Fluellen, Mr. Hoover and Mr. Racht.

“There was tremendous visibility on the marketing of Ridgemont with 14 tours, nearly 200 executed confidentiality agreements and over 10 offers,” said Ochstein. “We had the opportunity to close with the first buyer in escrow who was also a first time DFW multifamily buyer.”

Ridgemont is located at 2409 Ridgmar Plaza in Fort Worth, Texas.

Texas Build-for-Rent Community Receives Construction Loan via Walker & Dunlop

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BETHESDA, Md., March 11, 2022 /PRNewswire/ — Walker & Dunlop, Inc. announced today that it structured financing for Amavi Celina, a build-for-rent (BFR) neighborhood to be developed in Celina, Texas. According to the Dallas Business Journal, Celina is the fastest growing submarket for new homes in the Dallas-Fort Worth MSA, based on the number of residential permits issued. With construction breaking ground in February 2022, the community will feature 271 homes in total, with 155 cottages, 94 townhomes, and 22 single-family detached homes.

Keaton Merrell and Shannon Hersker of Walker & Dunlop’s BFR & SFR Practice Group arranged the financing on behalf of their client, Mill Creek Residential. The team leveraged their broad range of capital sources to identify a lender and secure an interest-only, four-year construction loan with a competitive rate.

“Walker & Dunlop’s comprehensive set of financing capabilities and advisory services set them apart in the BFR space, and we were impressed by their vast knowledge and expertise,” said Callum Parrott, president of single-family rentals for Mill Creek Residential. “Amavi Celina will be an excellent addition to our portfolio of over 115 multifamily communities, and we’re on pace to deliver the neighborhood’s first homes in August 2023.” Click to read more at www.prnewswire.com.

Keyway Secures Funding to Buy Property from a Little Business Operator and Lease it Back to Them–TechCrunch

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Keyway, a startup that buys residence from small and medium-sized company homeowners and then leases it back again to them, has secured $70 million in financial debt funding on the heels of a $15 million fairness elevate.

Started in September 2020, the New York-based corporation – which was beforehand named Unlock – stated it employs details science to “determine, underwrite and shut transactions 10x more quickly than incumbents.” It describes itself as a “managed market.”

Keyway’s very first merchandise is a sale-leaseback giving for organization house owners. The corporation purchases an owner’s creating and then signs a long-term contract with him/her. CEO and co-founder Matias Recchia mentioned this lets the organization house owners to cost-free up capital to grow their business enterprise whilst remaining in the similar spot. Click to read more at www.technohoop.com.

New 300,000-Square-Foot Office Project Coming to Plano’s Legacy Business Park

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The City of Plano approved plans by real estate investment firm PRP Real Estate’s for 6301 Headquarters Drive. The build-to-suit is a 300,000-square-foot office project in the epicenter of Legacy Business Park. Conceptual designs have been completed by HKS, and construction will begin once permits are secured. CBRE’s Dennis Barnes will market the building.

“Companies have realized that the collaboration that happens when employees are in the office is unmatched, so they are prioritizing top-of-the-line office amenities that give them the opportunity to tailor the office space specifically to their corporate needs,” Barnes said. “PRP meticulously designed 6301 Headquarters Drive to be a first-class experience, and it will fill a tremendous need in our market for large-scale office users.”

Industrial

Duke Realty Corp. has inked 10 new lease agreements and renewals totaling 1.3 million square feet of industrial space. The activity includes an expansion with Genera Corp. for 260,819 square feet and a new lease with Dynamic Glass Products for 116,980 square feet. The deals take Duke Realty’s 17 million-square-foot Dallas portfolio to nearly 100 percent leased.

Recent transactions also include a lease with SWS for 43,650 square feet in Garland and a renewal with DAP for 130,900 square feet, also in Garland. Click to read more at www.dmagazine.com.