A Dallas-based real estate investment firm is nearly finished with a rare addition to the city: an all-new, ground-up industrial facility in the Brookhollow submarket.
Shoal Creek Capital, which acquires and revamps Class B and C industrial assets and develops Class A facilities, is close to completing an 80,000-square-foot distribution and warehouse park. The infill facility is located on more than five acres at 8733 North Stemmons Freeway on the Interstate 35 East frontage road near Regal Row.
The firm, co-founded by Jack Crow and Wilson Bauer, purchased the site in spring 2022. It is expected to be completed in July.
Chase Miller and Mark Miller of NAI Robert Lynn are leasing the facility, dubbed Trinity Industrial Park.
Here’s a look at some of the other recent transactions of note in and around Dallas-Fort Worth, along with executive moves.
Financing
Stillwater Capital obtained a $55.3 million loan to refinance its two-building, 387-unit apartment complex Crystal Springs in Fort Worth. Affinius Capital, formerly known as USAA Real Estate and Square Mile Capital Management, originated the loan on behalf of the Dallas-based firm.
A team from commercial real estate finance company Greystone including Lance Wright, Thomas Wayda, Dante Distefano and Matthew Zisler closed a bridge loan debt placement and preferred equity component in the refinancing of the Barcelona at Chisholm Trail apartment community in Fort Worth. The financing on behalf of MBP Capital Partners totaled $22.9 million for the 17-building property spread across more than 10 acres.
With its inaugural real estate fund, Benson Capital Partners provided an undisclosed amount of capital for the 105-unit Panhandle at Rayzor Ranch apartment development in Denton. Benson Capital Partners has a legacy as a venture capital firm, investing in high-growth technology startups in the southeast.
Price Realty secured a five-year, fixed-rate loan from Freddie Mac for the acquisition of the Monticello Apartments in Fort Worth. A JLL Capital Markets debt advisory team of John Brownlee, Bo Beidelman, Blake Morrison and Aaron Craig arranged the financing on behalf of the borrower. The loan will be served by Jones Lang LaSalle Multifamily, LLC.
Sales
National homebuilder Lennar has acquired 47 acres in Aubrey. The land, located off of FM 2931, has been in the Sellers family for the better part of a century. Lennar plans to put 300 residential lots on the property, along with commercial property along FM 2931. Josh Bryan of Bryan Haggard Land Group represented the Loyd family and listing partners, Tonya Peek and Lori Clark of Coldwell Banker, on the transaction.
A joint venture between Fort Worth-based, women-owned M2G Ventures and Austin private equity firm Pennybacker Capital has sold a two-building industrial facility Proto Park, located in Dallas’ Brookhollow submarket. Industrial firm Bendetti, headquartered in California, acquired the 257,192-square-foot property at 3200 Irving Boulevard with a 100% occupancy rate. Newmark’s Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe represented M2G in the transaction.
Leon Capital Group closed the sale of its Airport Corporate Center at 4310 N. Belt Line Rd. in Irving, located near DFW International Airport. The Dallas-based firm was represented by CBRE’s Steve Trese and Wilson Brown in the deal for the 60,400-square-foot building. Leon Capital Group’s industrial platform totals about 4 million square feet of existing and planned projects, with two more buildings expected to be completed this summer in Mesquite and Garland.
Leases
Ellis Elite LLC, an enterprise from former professional basketball player Monta Ellis whose career included time with the Dallas Mavericks, has leased 16,936 square feet of space in Coppell for a basketball training facility. The space is located at Sandy Lake Business Centre at 989 W. Sandy Lake Rd. It marks the brand’s first outpost in the state of Texas. Bradford Commercial Real Estate Services’ Erik Blais represented the landlord, H2G Enterprises Inc., in the transaction.
Executive moves
After years with Cushman & Wakefield’s capital markets practice group, Beth Lambert has joined Foundry Commercial as executive vice president. Lambert’s focus at the real estate services and investment firm will be national in scale and her role will crossover between Foundry’s investment advisory and debt and structured finance platforms.
Trademark Property Company has hired Jamie Cox to oversee the Fort Worth-based firm’s on-site and corporate property management teams as senior vice president of property operations.
