Category: Deals & Announcements

Davis Holdings Reveals New HQ in Fundraising Event at 1500 McGowen

Posted on by Sarah

Latest mixed use project in Midtown unveiled with event for Houston Recovery Center

HOUSTON (June 30, 2022) – Davis Holdings LP unveiled its newest mixed use project, 1500 McGowen, with a fundraising event benefiting its tenant Houston Recovery Center. Club Soda No Twist featured a star-studded non-alcoholic cocktail competition, art by Charles Washington and bites from Houston chefs Sasha Grumman of “Top Chef” Season 18 and Thomas Stacy of ReikiNa. Former Houston Texans tight end Owen Daniels was among 100-plus guests at the sober Happy Hour event, which raised more than $10,000 for Houston Recovery Center.

“We enjoyed celebrating the unveiling of our new building with the Houston Recovery Center. We pride ourselves on doing what we can for our tenants,” Davis Holdings’ Kate Davis said. “After nearly three years redesigning and renovating the 1500 McGowen building, we’re thrilled to be at the finish line. It’s nearly 100 percent leased, with the exception of the remaining retail space. We hope to secure a restaurant that is a great fit for the building, the area and somewhere where everyone can enjoy eating. There are not a lot of dining options nearby, and we hope to capitalize on that and welcome a top hospitality client into our beautiful newly renovated space.”

Davis Holdings recently completed an exterior renovation of the building, designed by Houston-based 2x Design Studio and Colby Design. The project is mixed use, with offices on the second floor – including Davis Holdings’ headquarters – and retail on the first. Retail tenants include Fab Inc. Hair Studio, New Power Chiropractic and Spinal Perceptions Chiropractic. The building’s light fixtures are all vintage Holophane fixtures sourced by Colby Design.

The fundraising event showcased a 2,000-3,600 square foot shell space available for a restaurant on the first floor. Davis Holdings is offering a tenant improvement allowance to build out the space and recently acquired an additional parking lot for the building at McGowen and Caroline Street. 1500 McGowen is in a part of Midtown east of Main Street that will be completely redeveloped in the next two years. Caroline Street was recently redeveloped with new landscaping and repaved, making it pedestrian friendly, with more reconstruction soon to begin on La Branch Street. For more information, visit the Midtown Houston website or see the brochure at //davisholdingslp.com/1500-mcgowen/.

About Davis Holdings

Davis Holdings has a history of success working on a full spectrum of primarily retail properties, including but not limited to renovations, adaptive reuse, ground-up developments and complex acquisitions. Being developers, long term property holders and managers, Davis knows the true cost of every design cutback or a seemingly simple addition. It is Davis’ years of well rounded experience, coupled with its attention to detail,

that gives the company a unique advantage. Find out more information at www.davisholdingslp.com.

Palladium East Foster Crossing by Palladium USA Brings New Multi-Family Homes to Anna

Posted on by Sarah

ANNA, TX (June 27, 2022) – Palladium USA is pleased to announce the closing and construction start of Palladium East Foster Crossing – a new $64 Million, high-quality multi-family community in Anna. This is the second multi-family development for Palladium in the city of Anna. The four-story development has amenity-rich residences featuring 239 units of thoughtfully designed one, two, and three bedroom floor plans with upgraded finishes. Upscale amenities will include a resort swimming pool, state of the art fitness center, conference center, dog park, computer lounge, kid’s playroom, and clubroom containing a mini-kitchen with upgraded appliances and granite countertops.

“Construction has started, and we will be delivering the clubhouse and first units in November of 2023, says Tom Huth, President and CEO of Palladium USA.”

Palladium East Foster Crossing was designed by HEDK Architects, BBL Construction is the general contractor who is teaming up with the Anna Public Facility Corporation on construction. The Anna Public Facilities Corporation issued $33 Million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust and PNC Bank provided $27 Million of equity for this placement.

“We are excited to partner with Palladium on their second project in Anna”, said City of Anna Mayor Nate Pike. “Our community understands the need for quality, diverse housing options and this project helps further that vision.”

The groundbreaking celebration is planned for the near future will be attended by community leaders, elected officials, and will feature photo renderings of the multi-family community, branded promotional items, and refreshments. “The vision for Anna is large and growing! It is vital that we are able to offer a modern, high-quality development that is attractive and adds value to the community,” says Avis Chaisson, Director of Development for Palladium USA. “We are honored to work with the city of Anna and help with their vision for the area.”

The new 8.26 acre multi-family community is located on East Foster Crossing, just east of Hwy 5. Pre-leasing is expected by the Summer of 2023.

Palladium has nine multi-family developments under construction in Texas totaling approximately 1,700 units. Locations include Anna, Port Aransas, Midland, Fort Worth and Little Elm, two in Garland, and two in Dallas.

Buyers Representative: Kim Parker, Dynamic CRE, LLC

Echo Real Estate Capital, Inc. Sells Medical Office Building in Rowlett

Posted on by Sarah

Echo Real Estate Capital, Inc. has sold an out-patient medical office building anchored by Baylor Scott & White for $6 million.

The property is approximately 15,500 square feet and is located at 7801 Lakeview Parkway in Rowlett, Texas – one mile west of the Baylor Scott & White Lake Pointe Medical Center. The building was 100% occupied at the time of sale by four tenants that include the renowned Baylor Scott & White Texas Cardiac Associates, North Texas ENT, LabCorp, and Dr. Bart A. Deering, DDS.

“We have been targeting Texas for quite some time and we were able to acquire this asset off-market in May of last year,” said Echo Principal Jon Boyajian. “We loved the proximity to the Baylor Lake Pointe campus and the tenants were all very strong, but they were on short-term leases. Within six months, we had renewed all four tenants and had completed some minor capital improvements that had previously been neglected. Dave Kurtz and our asset management team did a phenomenal job.”

JLL Capital Markets Closes $61 Million in Financing for 17-Market Industrial Portfolio

Posted on by Sarah

JLL Capital Markets has arranged $61 million in acquisition financing for an industrial portfolio comprising nearly 24 last-mile, cross-dock truck terminals and transload properties across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S.

JLL worked on behalf of the borrower, Biynah Industrial Partners, to source the acquisition loan.

The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. The portfolio crosses various regions with assets in the Southeast, Mid-Atlantic, New England and Central U.S.

The portfolio provides end-to-end logistics solutions for today’s supply chain demands. These facilities represent mission-critical freight distribution transfer points, facilitating the flow of goods at the last stage of the supply chain. Each site offers optimal solutions for facility location, facility size, proximity to major infrastructure, truck court sizing, auto parking and other special use considerations.

This portfolio highlights the growing demand for Industrial Service Facilities, a rapidly growing multi-billion asset class that is suddenly on the radar of institutional investors. Such last-mile, cross-dock truck terminals and transload properties are increasingly driving investor attention due to their critical role in the movement of goods amidst supply chain backlogs.

The JLL Capital Markets team that represented the borrower was led by Managing Director Matthew Schoenfeldt and Director Lucas Borges.