Greystone has provided a $49,680,000 HUD 223(f) loan to refinance a 360-unit multifamily property in San Antonio, Texas. The financing was originated by Greystone Director Reuben Dolny, on behalf of The Bascom Group, a repeat client of the firm.

Built in 2001, The Anthony at Canyon Springs in Bexar County consists of 37 garden-style buildings with one-, two-, three- and four-bedroom units. Amenities include a clubhouse, resort style pool, tennis court, exercise room, sauna, movie theater, and putting green. The $49.7 million HUD-insured loan carries a 35-year term, 35-year amortization and a low, fixed rate. The property also qualifies for a 35-basis point reduction in Mortgage Insurance Premium (MIP) for achieving green standards. The Class-A property will go through an interior and exterior renovation plan, and the tenants will not only benefit from the renovations, but will also see a reduction in utility consumption.

Pearlmark has closed on a $11.3 million B-note investment for the development of Potranco Commons, a 360-unit multifamily property located in San Antonio, Texas. The development will consist of 180 market-rate units and 180 affordable units located in the Far West San Antonio submarket. The property will offer high-end amenities and access to a multitude of nearby employers.

The investment was made on behalf of Pearlmark Mezzanine Realty Partners V, L.P. (“Mezz V”). The A-note holder is Madison Realty Capital. Marc Suarez of Lument represented the borrower and sponsor, LYND Development, in securing the financing.

Pearlmark Managing Director Steve Gordon arranged the transaction for Pearlmark.

Lynann Pinkham, Cravey Real Estate Services, Inc.’s retail expert finalized the 8,914 SF lease with the national retail chain, Dollar Tree. Dollar Tree has completed construction in the former Pier 1 Imports space located at 7903 N Navarro St, Victoria, Texas. Lynann represented VEREIT Real Estate LP (Landlord) in the transaction.

VEREIT, Inc. was a real estate investment trust headquartered in Phoenix, Arizona that invested in single-tenant retail, restaurant, office and industrial properties. As of December 31, 2020, the company owned 3,831 properties with an aggregate of 89.7 million square feet. The company was acquired by Realty Income in November 2021. Realty Income Corporation is a real estate investment trust that invests in free-standing, single-tenant commercial properties in the United States, Spain and the United Kingdom that are subject to NNN Leases. The company is one of a few real estate investment trusts that pays dividends monthly, rather than quarterly, and has registered a trademark for the phrase “The Monthly Dividend Company”.

Dollar Tree, Inc., a Fortune 200 company, is a leading operator of discount variety stores that has served North America for more than thirty years. The Company is headquartered in Chesapeake, Virginia and operates 15,000+ stores across the 48 contiguous states and five Canadian provinces.

To learn more, visit our website at //craveyrealestate.com/.

SAN ANTONIO, TX – May 4, 2022 – Stream Realty Partners has expanded its health care real estate footprint in San Antonio by adding more than 100,000 square feet of medical office space to its leasing portfolio and developing an additional 60,000 square feet.

Stream, a national real estate services, development, and investment company, is developing OneFiftyOne Medical Office in the region’s Westover Hills submarket and was awarded the leasing assignments for 325 East Sonterra in the Far North Central submarket, 9618 Huebner Road in the Medical Center, 7127 Somerset Road in the South submarket, and Common Street Professional Building in New Braunfels. The five properties bring the firm’s total medical office leasing portfolio to 1.4 million square feet. Stream Senior Vice President Lee McKenna, Vice President Julie King, and Analyst Allie Sledge will oversee leasing of all the properties.

“In the past three years, Stream San Antonio’s healthcare team grew to represent more than 20 buildings, including an additional five buildings and 100,000 square feet in the first quarter of 2022,” said Carolyn Hinchey Shaw, Executive Managing Director and Partner. “The growth of this specialized team has become a strength for Stream and a great resource for San Antonio and the landlords and tenants they serve. We could not be more thrilled as they continue to increase their portfolio and team.”

OneFiftyOne Medical Office (pictured above)

OneFiftyOne Medical Office, at 11071 State Highway 151 in the prestigious Westover Hills, is expected to be completed in shell condition in January 2023. The two-story, Class A building sits on 4.4 acres and will offer over 60,000 rentable square feet, ingress and egress access to the Raymond E. Stotzer Jr. Freeway access road, and 295 parking spaces. Favorable lease terms will make the property suitable for medical practices and physician groups seeking to expand to or within the Westover Hills submarket. The development is immediately adjacent to popular hotels and restaurants as well as master-planned multi-family and residential developments.

“The quickly growing Westover Hills area of San Antonio boasts premier regional medical facilities including CHRISTUS Santa Rosa, VA outpatient clinic, Warm Springs Rehabilitation Hospital, and future developments by Methodist Healthcare System and Baptist Health System,” McKenna said. “With San Antonio being among the 10 fastest growing cities in the nation, the need for expanded health care offerings will continue to increase. OneFiftyOne Medical Office will provide a great location for flexible leasing opportunities with no ground lease restrictions.”

325 East Sonterra

325 East Sonterra is a 22,046-square-foot, Class A medical office building in the heart of the Stone Oak submarket. The building offers second-generation, move-in ready space with above standard finishes and ample free surface parking.

9618 Huebner Road

The recently constructed 9618 Huebner Road offers 10,000 square feet of newly completed shell space inside a 54,000-square-foot, three-story building in the South Texas Medical Center. The building has easy access to the largest concentration of medical facilities in the region without the traffic and congestion experienced in the medical center’s core.

7127 Somerset Road

7127 Somerset Road, in the actively growing South San Antonio submarket, offers more than 4,200 rentable square feet of move-in ready space. A large monument sign provides maximum visibility from nearby retail.

Common Street Professional Building

Common Street Professional Building at 1583 Common St. sits right outside of San Antonio in New Braunfels and offers 6,264 square feet of move-in ready space. The 30,542-square-foot building is one of the few multi-tenant medical buildings in New Braunfels with second-generation medical space. The development is located among the leading hospitals and medical facilities in the area and is less than 2 miles from Interstate 35.

For leasing information about any of these medical facilities, contact Stream San Antonio at 210.930.3700.

AUSTIN, TEXAS – April 19, 2022 – An Austin-based private real estate investment firm is set to break ground on a premier creative office space just steps from Austin’s Central Business District. 809 Skyline, owned by Rastegar Property Company and leased by Stream Realty Partners, will offer 24,700 square feet of contemporary office space set to deliver in the first quarter of 2023. Easily accessible from Interstate 35, the cantilevered building will boast two 12,000-square-foot full floors suitable for single or multi-tenant use. The property’s signage opportunities facing IH-35 will provide occupiers visibility to more than 7 million cars daily.

“809 Skyline is thoughtfully designed, offering occupiers a perfectly integrated work and lifestyle environment,” said Connor Atchley, Vice President of Stream Austin’s office leasing division. Stream is a national real estate services, development, and investment company with an office in Austin.

“Access to both East Austin and the Central Business District, unprecedented quality, and great views of downtown make 809 Skyline the optimum office experience for both large and mid-sized tenants,” he said.

809 Skyline offers access to Austin’s famous 6th Street, the Texas Capitol, Austin Convention Center, and a host of restaurants and retailers. In addition to a prime location, the building will include a private tenant balcony with city views that will meet occupiers’ needs to attract employees back to the office.

“As one of the premier locations in Austin with incredible views of downtown, major visibility, and a large, cantilevered space hovering above the landscape, this building is designed for a tenant that desires a tailored environment and wants to make a statement,” said Hunter Floyd, Vice President of Development and Design at Rastegar. Atchley and Stream Managing Director and Partner Brad Philp will serve as the leasing team for the property. For information, contact Stream Austin at 512.481.3000.

JLL Capital Markets has closed the sale of ArborView, a 151-unit, age-restricted (62+) active adult apartment community in Austin, Texas.

JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project.

Opened in 2021, ArborView is located in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf course, tennis club, four swim center and more than 500 acres of dedicated park land. Circle C Ranch is served by the Escarpment Village shopping center, which includes a variety of upscale restaurants, shops and an HEB grocery store.

ArborView offers a variety of amenities including a demonstration kitchen, fully equipped fitness center and class studio, hair salon, indoor and outdoor lounge areas, putting greens and a resort-style swimming pool. Apartments feature granite countertops, fully equipped kitchens, subway tile backsplashes, wood-style plank and ceramic tile flooring and plush wall-to-wall carpeting.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Charles Bissell.