Two Class-A office buildings in Farmers Branch, known as International Plaza I and II, have been refinanced using a five-year, floating-rate loan of $190M from CIM Group.
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Cushman & Wakefield signed on as adviser to the asset owner, Taconic Capital Advisors, when the property owner began its search for a refinancing loan for the two towers.
The buildings are at 14201 and 14221 North Dallas Parkway in Farmers Branch and were acquired by Taconic in 2018.
Cushman’s Rob Rubano, Greg Napper and Brian Share handled refinancing negotiations for Taconic.
Taconic has invested heavily in the property these past two years, adding more than 46K SF in amenities.
“Taconic has done a great job of positioning the asset over the last two years, as evidenced by continued strong tenant demand for the building,” Rubano said in a statement. “The ability for CIM to underwrite a whole loan financing of this size in the current market environment speaks to the quality of the asset and the strength of Taconic as a borrower.”
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EXECS
Architectural design firm Hoefer Wysocki is bringing healthcare expertise in-house. As part of this focus, the firm hired Hannah Mey to serve the clinical technology solutions team as associate vice president, senior technology specialist.
Bringing her background in nursing education and caregiving to the role, Mey will be working alongside design teams as they brainstorm ways to integrate technology solutions into healthcare development projects.
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Multifamily developer and builder The NRP Group has named Alastair Jenkin senior vice president of development for the DFW, Austin and Houston markets.
He joined the firm in 2017 as vice president of development and is already overseeing development work in Austin and Houston. He will now manage market rate and workforce housing community development initiatives in all three markets.
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Transwestern Real Estate Services named Jordan Wade senior vice president for the Occupier Solutions team in Dallas. Wade is the youngest member of Transwestern’s board of directors and has been the leader of Transwestern’s Young Professionals group since joining the firm in 2014.
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Bryan Bishop has joined Lee & Associates' Dallas-Fort Worth office as an associate.
A graduate of Texas Tech University, Bishop will be serving on Reed Parker’s team and specializing in industrial tenant representation, leasing, building sales and Great Southwest investment properties.
Bishop is a lifelong North Texas resident.
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Construction firm Skanska named Todd Reeves vice president/project executive for North Texas. Reeves is an industry veteran with 19 years of experience and is based in the firm's North Texas office.
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ACQUISITIONS
PJE Investments LLC purchased a new medical office building at 4901 Windhaven Parkway at State Highway 121 in The Colony.
The two-tenant building sits in a commercial area that sees roughly 125,000 cars travel by per day. The facility also is a short distance from the Grandscape mixed-use development.
Weitzman’s Kevin Butkus and Corbin Tanenbaum handled negotiations for the seller, while Legacy Commercial Realty’s Tonya La Barbara worked on behalf of the buyer.
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Investment companies Lion Real Estate Group and Marble Partners purchased the 140-unit Highpoint Apartments & Townhomes in Plano.
The multifamily asset is located at 6533 East Medalist Circle and is Lion's second multifamily purchase in DFW after acquiring Embry Apartments in Carrollton in May 2019. Townhomes make up 80% of the property.
JLL's David Austin and Rob Key represented the purchasers.
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A Texas-based investment group sold a 15K SF facility leased to Xplor Preschool in Fort Worth.
The 15K SF property is located at 4601 Huffines Blvd. in Fort Worth and sits on 2.1 acres. The buyers are individual investors in New York and China. The asset sold for $4.1M.
Stan Johnson Co.'s Milo Spector represented the seller.
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A 10K SF industrial building at 9019 Governors Row in Dallas has been sold to an undisclosed buyer, according to Transwestern. Tranwestern's Bill Gannon brokered the transaction and represented the seller.
CORRECTION, SEPT. 1, 3:00 P.M. CT: A previous version of the story featured the wrong image for International Plaza. The story has been updated.
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