CBRE announced the sale of Waterloo Innovation Center, a two-building, 198,972-square-foot office campus located at 1000 Red River in downtown Austin. The building was sold by Teacher Retirement System of Texas (TRS) which operates its Austin headquarters out of the property.

CBRE’s Russell Ingrum, Peter Jansen, Troy Holme, Jennifer Joseph, Patrick Benoist and Jared Chua represented the seller. The buyer and terms of the deal were not disclosed.

TRS, the largest public retirement system in Texas, will remain at 1000 Red River for an additional two years while its new Austin headquarters campus in Northeast Austin is built. The organization has been based at the campus for nearly 50 years. TRS is a nearly $185 billion financial institution that serves 1.9 million Texans.

Austin ranked No. 14 in the U.S. for total commercial real estate investment volume with nearly $16.9 billion invested between Q2 2021 and Q2 2022, according to CBRE Research. Year-over-year, commercial investment rose by 68.1% in Texas’s capital from just over $10 billion between Q2 2020 and Q2 2021.

AUSTIN, TEXAS – Oct. 11, 2022 – Stream Realty Partners is set to break ground on a six-story office building in the highly sought-after, last major developable block in Core East Austin.

1400 East at 1400 E. Fourth St. will sit in the heart of one of Austin’s most walkable neighborhoods and is connected by the Lance Armstrong Bikeway and Austin’s Metrorail. Stream, a national real estate services, development, and investment firm, will partner with Barings, a leading investment firm based in Charlotte, North Carolina, on the venture. Construction is expected to kick off in early 2023, with final delivery in late 2024.

The building, designed by HKS, will have a striking curved façade and be built around a tenant-first office environment. Hospitality-influenced amenity management, a fitness center, bike valet, and smart building technology will amplify the employee work experience at 1400 East.

The project will deliver ample outdoor space, which will include private patios on each floor, a ground-floor paseo that connects directly to the Lance Armstrong bikeway, and the only rooftop patio in the area. A ground-floor café and marketplace restaurant are also planned.

“As we approached 1400 East and East Austin, we studied highly complex sustainable design in similar neighborhoods like SoHo, Fulton Market, and RiNo,” said Connor Greissing, Managing Director and Partner at Stream Austin.

“We found that within these successful projects, the design and office offerings were inextricably linked to delivering space that empowers employers to give their employees the best workplace experience imaginable. We, as owners, needed to identify those spaces for tenants to collaborate, connect, and concentrate during their day at 1400 East.

“When thinking through the amenities and floor plates, we took a unique approach to design, relying on direct, candid feedback from tenants in the CBD and East Austin. We plan to deliver exactly what today’s users want to create–an agile and versatile work environment. 1400 East will set a new standard for office space in East Austin.”

About Stream Realty Partners
Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,200 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

About Barings
Barings is a $349+ billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe, and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities, and employees and is committed to sustainable practices and responsible investment. For information, visit www.barings.com.

About HKS
HKS is a global firm of architects, designers, advisors, and makers driven by curiosity and devoted to creating places that combine beauty with performance. The firm’s 1,500 people in 26 offices are united by a shared culture and sense of purpose. For information, visit www.hksinc.com.
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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033

Jeff Rogers of the Fort Worth office of Colliers Mortgage closed a $4.5 million HUD loan for the refinance of Avanti at Greenwood in Corpus Christi. The project is an 81-unit broadly affordable multifamily property. The property currently has eight units restricted to individuals or families earning 30% or less of area median income, 15 units restricted to individuals or families earning 50% or less of area median income, and 50 units restricted to individuals or families earning 60% or less of area median income. The remaining eight units at the property are market rate units.

As part of the transaction, the borrower was able to pay off their construction loan and put long term HUD financing on the property.

The loan carries a 35-year term/amortization and was arranged for borrower, Avanti at Greenwood, LP.

AUSTIN, TEXAS – Oct. 4, 2022 – The $22 million renovation of a neighboring luxury hotel has rejuvenated a 16-story office tower in the epicenter of Downtown Austin.

Austin Centre at 701 Brazos St. shares its lobby, conference center, restaurants, and other high-end amenities with the adjoining Omni Austin Hotel Downtown. The property recently completed an extensive reimagination that now provides an environment where tenants can collaborate, socialize, and be productive while at the office. The building, owned by Sidra Austin, LLC, features 326,000 square feet of four-star office space. Stream Realty Partners Managing Director and Partner Brad Philp, Senior Vice President Travis Rogers, and Senior Associate Coleman Jackson serve as leasing brokers. Stream, a national real estate services, development, and investment firm with a growing Austin office, also offers property management services–under the direction of Senior Property Manager Amy Smith–at the building.

In addition to sweeping views of downtown and the Texas State Capitol through floor-to-ceiling windows, office tenants at Austin Centre will now appreciate:

· Direct access to 20,000 square feet of revitalized meeting space across 19 venues, including a 3,400-square-foot Bridge Ballroom.

· Capital A, a restaurant and lobby bar where communal tables and a private dining room are easily accessible for breakfast, lunch, and dinner.

· President’s House Coffee, a shop where coffee, tea, pastries, and light bites are available for dining in or quick take out.

· A 24-hour fully equipped fitness center with Cybex weight machines, ellipticals, stationary bikes, and free weights. Showers and locker rooms also are available.

· Food service from the hotel’s eateries delivered directly to their office suite.

· A redesigned lobby where employees and visitors can enjoy casual lounging areas.

· Access to the hotel’s heated rooftop pool with a bar, open seasonally.

“Austin Centre is truly a place that brings together a multitude of amenities,” said David Barry, President of Sidra Real Estate. “Our tenant mix utilizes these one-of-a-kind amenities in addition to enjoying the walkability Austin’s Central Business District offers.” Austin Centre offers easy access to Interstate 35, just three minutes away, with major thoroughfares Cesar Chavez Street, San Jacinto Boulevard, and Congress Avenue close by. Private bike storage and plenty of parking can be utilized in the underground garage. “The city’s Central Business District continues to see a healthy level of leasing activity, with companies seeking quality spaces that embrace hospitality and elevate their employees’ experience so they are encouraged to return to the office,” Rogers said. “Sidra and Stream are reacting rapidly to this trend. Austin Centre is a top opportunity for office users to find high-end, move-in ready space with flexible deal terms.”

Full-floor office spaces, as well as multiple turnkey speculative suites, are currently available for immediate occupancy at Austin Centre. For information, contact Stream Austin at 512.481.3000.

About Stream Realty Partners

Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,200 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033

Operates from Newly Established BLP Regional Headquarters in Dallas

DALLAS, TX – October 3, 2022 – Thanks to its boots-on-the ground approach and strong local relationships stemming from its newly established regional headquarters in Dallas, Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”), has acquired 804 W. Shady Grove Road located in Grand Prairie, Texas.

The 203,430 SF Class A building is a recently delivered, highly functional asset located in DFW’s infill Great Southwest (GSW) submarket. Situated on 12 acres, the building offers modern specs including a 32’ clear height, 180’ truck court, 42 dock high doors, two ramps, 49 trailer storage spaces and a 0.45 parking ratio. With a front load configuration, the building is divisible into two suites.

“We are thrilled to add this brand new, Class A asset to our growing portfolio of infill logistics properties in global gateway markets. This acquisition is a testament to our team’s deep local relationships and focus on acquiring functional logistics assets in supply-constrained markets,” said Connor Tamlyn, Managing Director in BLP’s Dallas, Texas office.

The seller was represented by Kurt Griffin and Nathan Orbin of Cushman & Wakefield.

BLP considers Dallas Fort-Worth to be a key global gateway logistics market in the U.S., and has established one of its four regional headquarters in the city. Beyond Dallas, BLP has a geographic presence via three other offices – Los Angeles, New Jersey and Atlanta. The company was established in June 2021 when Jay Cornforth, Chief Executive Officer, and Brian Gagne, Chief Investment Officer, left Brookfield to start the logistics division of Bridge Investment Group. The BLP team is fast-growing and consists of 33 dedicated investment and business professionals across several disciplines.

The team successfully works to combine its operational and development DNA with deep customer, owner and broker relationships, which all played a key role in the successful acquisition of 804 W. Shady Grove Road and other key properties where demographic growth and shifts in consumer behaviors are dramatically increasing the demand for infill assets.

Since the formation of BLP, Connor Tamlyn and the Central team have already acquired three properties and four development sites totaling 1,338,871 square feet, and are managing a growing pipeline of assets currently under agreement.

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About BLP

Bridge Logistics Properties (“BLP”) is a vertically integrated logistics real estate investment manager led by tenured, multi-disciplinary real estate veterans with experience navigating several economic environments over the past three decades. Its founding members and leadership team employ a disciplined investment strategy that is both cycle-tested and innovative. BLP is a value-focused investment manager that is highly collaborative with its institutional capital partners. Leveraging its deep local relationships and global vision, BLP uncovers and executes value transactions in targeted coastal and gateway markets in the U.S. and abroad. Across its four offices – in the Northeast, West, Southeast and Central United States – BLP has proven regional experience in acquisitions, opportunistic repositioning and development of global logistics assets. Its steadfast focus on innovation and sustainable development promotes solutions that are both profitable and socially responsible. For more information, visit Bridge Logistics Properties.

About Bridge Investment Group

Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $38.8 billion of assets under management as of March 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.

The property, 2900 Oak Springs is planned to have 250 units with 125 units being affordable or below market value. This complex will be minutes from Springdale Green (an 875,000 square foot office space set to deliver in 2024), East 6th Street, Downtown Austin, Mueller Business District, Austin-Bergstrom Airport, The University of Texas, and Tesla’s Gigafactory. The complex will also provide stellar views of downtown Austin. 

2900 Oak Springs is well positioned to benefit from recent exponential growth throughout East Austin, including residential and commercial developments along East Sixth, East 12th, and MLK Jr Blvd. Young professionals are flocking to East Austin, and commercial developers have responded in kind. Continuing this virtuous cycle, there is significant market demand for additional residential density in the area as companies continue to move in.