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People and Company News, September 20, 2024
- Lunada Rose Partners recently acquired a 185,413-square-foot industrial property at 13612 Furman Road, Houston, TX. The deal was an all-cash transaction. While the final purchase price cannot be disclosed, the initial asking price for the property was $21.85 million. Empire Auto Parts currently occupies the property, which signed a long-term lease as part of its expansion into the Texas market.
- Shorenstein Investment Advisers acquired International Plaza II, a 15-story, Class A office building in the Lower Tollway submarket. The 388,000-square-foot Property recently underwent a significant redevelopment, including the addition of nearly 50,000 square feet of new amenity space. On-site amenities include a full-floor food hall, a coffee and wine bar, multiple indoor and outdoor tenant lounges and fitness and conference centers.
- MYCON General Contractors, Inc. (MYCON) has begun construction of a new U-Haul storage facility in Haltom City, Texas, marking the general contractor’s eighth project with North America’s largest do-it-yourself moving and self-storage operator, U-Haul. The new U-Haul location will feature approximately 1,600 storage units of various sizes.
- JLL Capital Markets closed the sale of Firewheel Town Village, a 154-unit seniors housing community in Garland, Texas. JLL represented the seller, Clearworth Capital, and procured the buyer, Equity Partnership Holdings. Built in 2018, Firewheel Town Village consists of studio, one-, and two-bedroom units, with a current occupancy rate of 98.1%.
- Dallas-based Westdale Real Estate Investment and Management announced the allocation of $500 million to its distressed debt partnership, Westdale Capital. This fund will be used to pursue real estate assets impacted by the current economic climate and to acquire debt instruments from banks seeking liquidity and solutions to classified loans.
- ◦Sale/Acquisition
- ◦Development
- ◦Financing
