JLL Capital Markets Sells 613,468-Square-Foot Power Center in Houston Suburb

JLL Capital Markets has closed the sale of Shadow Creek Ranch, a 613,468-square-foot, H-E-B-anchored power center within the master-planned Shadow Ranch community in the Houston suburb of Pearland, Texas.

JLL marketed the property on behalf of the seller, EDENS. Fidelis Realty Partners LLC acquired the asset. Additionally, the new owner has engaged JLL to source post-acquisition financing.

Completed between 2007 and 2008, Shadow Creek Ranch is anchored by H-E-B, ranked the No. 2 grocer in America for 2021 by the dunnhumby Retailer Preference Index. The 97.7-percent-leased property is also home to a diverse lineup of national and local tenants, including Academy, Ashley HomeStore, Burlington, Dynamic Fitness, Hobby Lobby, Subway, Club Pilates, Men’s Wearhouse, Pure Barre and Salata.

The sale includes 11 free-standing pad sites leased to popular tenants such as Taco Cabana, Frost Bank and Longhorn Steakhouse.

Shadow Creek Ranch is at 2805 Business Center Dr. in Pearland, a growing southern Houston suburb known for a recent influx of major corporate relocations. The retail center is within the 3,500-acre premier Shadow Creek Ranch master-planned, mixed-use, live-work-play development that features greenbelts, lakes and the majority of Pearland’s principal employers and retail space.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Chris Gerard, Senior Managing Director and Co-Head of U.S. Retail Capital Markets Barry Brown, Senior Director Wendy Vandeventer and Analyst and Katherine Miller.

“The sale of Shadow Creek Ranch reflects the state of the retail capital markets in Texas,” West said. “We had a deep pool of buyers pursuing a large-scale retail asset that was anchored by a high-octane H-E-B and big box retailers that emerged from a pandemic stronger than before.”

The JLL Capital Markets Debt Advisory team arranging the post-acquisition financing for Fidelis Realty Partners LLC includes Senior Managing Director Colby Mueck, Senior Director James Brolan and Analyst Stuart Hepler.

BHW Completes Sale of New Class “A” Multifamily Development-Park at Tour 18

Houston, TX – January 10, 2022 – BHW Capital, a boutique Houston-based multifamily developer, recently completed the sale of Park at Tour 18, a 241-unit Class “A” luxury apartment community developed in 2020 located in the Humble/Kingwood/Lake Houston submarket of northeast Houston. Dallas-based Civitas Capital Group acquired the asset at the end of 2021 for an undisclosed price.

The Park at Tour 18 is the third award-winning ground-up development completed by BHW Capital. The property received the 2021 Suburban Apartment of the Year award by REDnews and was named a finalist for 2020 New Development Mid-Rise Apartment of Year by the Houston Apartment Association. As the best-in-class asset strategically located within a high-growth corridor of Northeast Houston, Park at Tour 18 experienced a rapid lease-up to stabilization. “Combining the unique golf-Capital setting with luxury community amenities and a strategic location within the Humble/Atascocita area, Park at Tour 18 experienced a successful lease-up to stabilization despite the COVID-19 headwinds in 2020,” said Bryan Tran, vice-president of BHW Capital.

Formed in 2012 by Martin Bronstein & Ralph Howard, BHW Capital focuses on multifamily development opportunities in suburban infill locations targeting underserved locations across major Texas markets. BHW Capital’s luxury class “A” multifamily developments are built to an institutional hold quality with active “hands-on” asset management from the development team. BHW Capital is currently under construction on their fourth ground-up project, Park on Napoli, a 239-unit Class “A” multifamily development located in the Vintage Park submarket of Northwest Houston. “Park on Napoli represents BHW’s continuing evolution of luxury multifamily development,” said Matthew Bronstein, vice president of BHW Capital. “As the work from home trend continues to grow, we focused on designing an apartment community with the amenities and unit finishes to meet the changing needs of today’s apartment renters.”

BHW Capital’s industry-leading partners have been instrumental throughout the development process since conceptualization to ensure a best-in-class community & experience for future residents. Park at Tour 18 was designed by leading Houston-based architecture firm, Mucasey and Associates. Construction was completed by Blazer, a regional multifamily general contractor. Construction financing was provided by Texas Capital Bank. “Our longstanding industry partnerships have been vital in the evolution & success of BHW Capital’s multifamily developments,” said BHW Capital’s founding co-principal Martin Bronstein.

About BHW Capital: BHW Capital is a Houston-based multifamily development firm founded in 2012 specializing in investment strategies through operating expertise and institutionally tested diligence and underwriting. Founding co-principals, Martin Bronstein & Ralph Howard have worked together for over thirty-five years and have a collective 90 + years of commercial real estate experience. The firm’s primary focus is to develop multifamily assets that can generate significant capital appreciation through effective development, repositioning, management, and leasing. To learn more about BHW Capital visit www.bhwre.com. BHW Capital Contacts: Bryan Tran, Vice President Email: Bryan.Tran@bhwre.com Matthew Bronstein, Vice President Email: MMatt.Bronstein@bhwre.com

About Civitas Capital Group: Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com. Civitas Capital Contact: Eric Celeste, Director of Communications eric.celeste@civitascapital.com

Lamar CISD Students Kick-Off 2022 at New Fletcher Morgan, Jr. Elementary School

(Rosenberg, Texas) – The first day of the new year brings the opening of Lamar Consolidated Independent School District’s Fletcher Morgan Jr., Elementary School. Completed in December 2021, 750 students in pre-K through fifth grade officially occupy the new school. Part of the 2017 Bond Election, Morgan Elementary School is the Lamar CISD’s 29th elementary school and VLK Architects’ fourth prototype facility with the district.

Lamar CISD developed a building program for the conceptual studies of this school, which mirrored existing elementary schools within the district that have similar student capacities, programs, and teaching spaces. As part of the planning process, VLK conducted meetings with school leaders to establish project objectives and milestones, including facilitating authentic engagement between curriculum, students, and teachers.

“VLK Architects has done a phenomenal job designing our new campus, Morgan Elementary,” said Dr. Roosevelt Nivens, Superintendent of Lamar CISD. “It truly is a beautiful campus equipped with everything that our scholars need to have an exciting and impactful learning environment. We are grateful for this new addition to our Lamar CISD community.”

Learning areas are organized into pods, each with six to eight classrooms, restrooms, storage spaces, printing stations, and collaboration spaces, as well as outdoor areas. Modular furniture, activity walls, and media stations play a vital role in transforming classroom pods into dynamic, adaptable spaces. In order to reduce ambient sound and improve hallway circulation, the music, art, and science rooms are located adjacent to the multifunctional gym/cafeteria and stage.

“It’s an honor to be able to work with Lamar CISD in opening another elementary school that serves the students, faculty, and staff in this fast-growing community,” said Todd J. Lien, AIA, Managing Partner of VLK Architects.

The project’s total cost was $24 million, funded as part of the 2017 Bond. Drymalla Construction served as the general contractor.

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About VLK Architects: With offices throughout Texas, VLK Architects provides architecture, planning, and interior design services to automotive, K-12, higher education, corporate, and institutional clients throughout Texas. For more information, please visit our website: www.vlkarchitects.com or contact 817-344-0344 or tbartley@vlkarchitects.com.

About Lamar CISD: Lamar CISD will always focus on putting students first. Our campuses are designed with smaller enrollments (high schools are designed for no more than 2,000 students) to provide more opportunities for students to assume leadership roles and participate in campus activities. Lamar CISD also has sixth-grade-only campuses (middle schools) which focus on the needs of pre-adolescents, providing a smooth transition to secondary schools. To learn more, visit their website: //www.lcisd.org/about/.