JLL Capital Markets has arranged financing for the acquisition of a newly constructed 1,152-unit, CubeSmart-branded self-storage facility in Austin. JLL worked on behalf of the borrower, South California-based Greens Global, to place the five-year, fixed-rate loan with Happy State Bank. Greens Global purchased the asset from CSW Development in an off-market transaction initiated by the borrower. Completed in September 2019, the 110,505-square-foot building houses all climate-controlled units along with retail and office space for operations. The five-story property is outfitted with modern security features. Located at 8023 W. Parmer Lane in the northern part of Austin, the facility is surrounded by a growing population of nearly 90,000 residents within a three-mile radius. Additionally, the property is immediately adjacent to hundreds of multi-housing units and single-family homes. The JLL Capital Markets Debt Placement team representing the borrower was led by senior director C.W. Sheehan and analyst Alastair Barnes “The acquisition of the CubeSmart on Parmer Lane is a great first asset in Austin for Greens Global and is an expansion of their self-storage portfolio from California,” Sheehan said. “The asset is located on a heavily trafficked corridor with great visibility and just a stone’s throw from the new tech campus and across from Robinson Ranch.”

A partnership between Thompson Realty Capital and Trez Capital has broken ground on a new apartment community that will be called The Dalton. The partnership is developing the 21-acre luxury apartment community located in Pflugerville, Texas, a growing suburb just outside Austin and adjacent to neighboring Round Rock. Financing for the project was provided by Texas Capital Bank. “The Dalton will provide an ideal living space for future residents in this rapidly growing area” said Tom Field, CEO, Thompson Realty Capital. “The array of units and amenities will accommodate everyone from recent graduates to families to empty nesters, no matter what stage of life you are in.” Future residents can choose between one-, two- and three-bedroom floorplans with granite or quartz counter tops and stainless-steel appliances. Residents will also have access to attached or detached garage spaces. Complete with a luxurious clubhouse overlooking a resort-style pool and courtyard, community kitchen spaces, a social bar, firepits and entertainment seating, the amenities space is designed to provide a welcoming, social atmosphere for residents and guests. Other community amenities also include independent study rooms, a fitness space attached to a yoga yard complimented by flex space for individualized fitness classes, green walking paths and access to a pet-washing facility and dog park. Strategically located just east of Interstate Highway 35 and just south of Texas Highway 45, residents will have immediate access to the main thoroughfare to Round Rock and Austin as well as the surrounding retail areas and major employment hubs. “Travis County has seen explosive growth over the years, and we are always looking for opportunities within high-growth areas,” said John Hutchinson, president, central and southwestern U.S., Trez Capital. “We know residents will be attracted to the essential accessibility to the Austin area coupled with the quality product that Thompson Realty Capital delivers on all of its projects. We are excited to see project completion.” The Dalton is expected to be complete in 2021. This is Thompson Realty Capital’s fourth project with Trez Capital.

Cravey Real Estate Services, Inc. was recently awarded the property management of a 51,300 SF building located at 4201 Greenwood Drive in Corpus Christi, Texas.  The property was recently purchased by SGP Corpus Christi, LLC. The building has a single tenant, the Texas Department of Family and Protective Services. Matthew Cravey, President of Cravey Real Estate Services, heads the property management team. 

About Cravey Real Estate Services, Inc.

Cravey Real Estate Services is a full service commercial and industrial real estate company based in Corpus Christi, Texas. We sell, lease, and manage Commercial, Industrial, Warehouse, Office, Retail, Shopping Centers, Land, and Investment Properties in Texas. To learn more, visit our website at //craveyrealestate.com/.

Contact
Matthew Cravey, SIOR, CCIM
President
TX #203443
matt@craveyrealestate.com
(C) 361.877.2463
(O) 361.221.1915
(F) 361.221.1915

The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a $9.8 million Fannie Mae loan for the acquisition financing of Arroyo Square, a 182-unit market rate multifamily apartment property located in San Angelo, Texas. The 10-year term, 30-year amortization loan was arranged through a partnership with Old Capital Lending for Arroyo Square, LLC. Constructed in 1977, amenities at the pet-friendly community include pool, picnic area, grills, tennis and basketball courts, business center and fitness center.