This Week's Dallas-Fort Worth Deal Sheet
Los Angeles-based real estate investment firm Turner Impact Capital has closed its sixth apartment purchase in Dallas-Fort Worth, the Ventana Apartments complex near Galleria Dallas.
The Turner Multifamily Impact Fund II acquired the property for its portfolio after already nabbing roughly 10,300 workforce apartments around the U.S.
About 1,700 of those apartments are in DFW.
Turner Impact Capital's long-term goal is to target apartment assets that will cater to middle-income tenants in areas starved for affordable housing units. The firm plans to eventually invest more than $2B to buy upward of 20,000 units.
EXECS
Colliers International promoted Will Haynes to managing director for the office occupier services group in North Texas.
Haynes joined Colliers as a senior associate in 2016 and will now be leading the unit's development activities and spearheading the North Texas Education Services practice group.
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Luxury multifamily owner and developer The Bainbridge Cos. named Shae Shults president of business development. Shults, who will be based out of Dallas, is charged with leading corporate business development efforts, portfolio acquisitions and management assignments across the Southeast, mid-Atlantic and Southwest.
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Veteran commercial real estate professional Bob Acuff has left Colliers International for Younger Partners, where he will be leading the firm's new corporate services division.
Acuff spent years working for Mobil Oil and then joined the commercial real estate world working alongside Bill Cawley before landing at Colliers.
Acuff is following other Colliers alumni to Younger Partners.
“After my team disbanded at Colliers, it seemed like a good time to hit the restart button,” Acuff said in a statement. “Two of my former Colliers colleagues, Greg Hoffman and Bo Estes, joined Younger Partners and loved it here. I also talked with Bill about it and he said he thought it would be a good fit for me here.”
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Dallas-based Sealy Investment Securities added three professionals to its executive ranks in an effort to expand its sales and distribution efforts.
The firm named Brian Rivera executive vice president of business development. It also named Dawn Impellizzeri and Brian Duffy senior vice presidents. Impellizzeri and Duffy will join the wholesale team already made up of Kerry Peoples, Mike McDaniel and Brett Williams.
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Suffolk named Mark Penny general manager in Dallas as the firm expands its presence throughout Texas.
Penny will be working alongside Dallas Chief Operating Officer Mark Reed to enhance the firm's concentration throughout the state and to enhance development and planning efforts. Penny also will work on market analysis and corporate efforts to attract new talent.
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The Woodmont Co. hired Tim Cutting as vice president of leasing. Cutting brings more than 35 years of retail real estate experience to the firm, which specializes in shopping center asset management and leasing.
Cutting will handle retail leasing activities for the firm's portfolio of regional malls and outlet shopping centers.
ACQUISITIONS
With Denton County experiencing exponential growth and housing demand, homebuilder D.R. Horton acquired 53 acres in south Denton for new single-family housing. The tract, which sits on Bonnie Brae Street east of Interstate 35 West and is adjacent to a future 200-acre park and sports complex, was brokered by Younger Partners' David Hinson and Tom Grunnah. D.R. Horton intends to build 206 homes.
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CONTI purchased the 420-unit Vine Apartments complex in Dallas-Fort Worth. This is CONTI's 43rd property acquisition in Texas since 2008. Vine Apartments is located at 711 Trinity Circle in Arlington.
LEASING
Younger Partners Property Services inked a property management agreement for an iconic Downtown Dallas office tower.
The brokerage is now the official property manager for the 1.7M SF, 56-story Renaissance Tower at 1201 Elm St. in Dallas. Located in the heart of the Central Business District, the assignment brings YPPS' managed property portfolio to 5M SF.
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Dallas law firm Waddell Serafino Geary Rechner & Jenevein is moving from Thanksgiving Tower in Downtown Dallas to the Comerica Bank Tower at 1717 Main St. The firm leased 26K SF of office space inside the iconic Central Business District building.
JLL's Scott Hage and Brooke Armstrong represented the tenant during negotiations, while M-M’s Mike Silliman represented the landlord. JLL's Jacqui Connors is overseeing the build-out of the new office space.
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Meal kit company HelloFresh leased 375K SF of distribution center space at 2700 Market St. in Irving near DFW Airport.
The site will be used to handle distribution efforts for customers across the South and Midwest.
Lee & Associates' Trey Fricke, Reid Bassinger, Dennis Someck and Justin Myers handled negotiations on behalf of HelloFresh.
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Clarion Partners has selected Weitzman to handle property management services for its 79K SF The Shops at MacArthur Hills retail center in Las Colinas.
The site is located at MacArthur Boulevard and the President George Bush Turnpike. Weitzman's Debra Hays is now handling day-to-day management activities at the center.
