Affinius Capital Originates Loan For Black Mountain's Huge Industrial Acquisition: The DFW Deal Sheet
A massive industrial complex near Fort Worth has changed hands.
Affinius Capital LLC closed on a loan to Black Mountain for its acquisition of the nearly 837K SF Chisholm 20 industrial facility in Benbrook.
Chisholm 20 features three rear- and front-load, Class-A industrial buildings and is nearly 83% leased to five tenants.
“Dallas–Fort Worth remains a very compelling industrial market and Chisholm 20's scale, connectivity, and Class A quality make it a strong fit for our lending strategy,” Affinius Capital Managing Director Costa Kontoulis said in a statement. “This transaction underscores our conviction in logistics-driven assets and our ability to execute alongside best-in-class sponsors like Black Mountain.”
Building 1 is more than 284K SF and features 36-foot clear heights, 53 dock doors and 190-foot truck courts. Building 2 is nearly 378K SF with 36-foot clear heights, 67 dock doors and 190-foot truck courts. Building 3 offers 174K SF and has 32-foot clear heights, 42 dock doors and 185-foot truck courts.
The site also features three two-way access points with direct access to major highways.
The financing was arranged by CBRE’s Tom Burns and Hunter Habash.
SALES
The Fort Worth Park and Recreation Department acquired 16 acres in east Fort Worth to expand and preserve the Tandy Hills Natural Area. Younger Partners Senior Vice President David Hinson brokered the direct deal for the land that borders the existing city-owned nature area. Development plans and a timeline for improvements have not yet been determined.
LEASES
Northwood Retail signed Ikea to a 63K SF lease at its Dallas shopping center, The Shops at Park Lane. The Swedish home furnishings and goods retailer will open its small-format, two-story store on March 11.
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Technology firm Yardi leased 70K SF at the 19-story 7900 Windrose office tower in Plano. Cushman & Wakefield’s Matt Schendle, Travis Boothe, Carrie Halbrooks, Mary Frances Burnette, David Harris and Tom Wille represented ownership. Stream Realty Partners’ Randy Cooper, Wills Bauer and Nate Hruby represented Yardi.
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Pottery Barn Outlet leased a 25K SF retail anchor space at the Grapevine Towne Center on State Highway 114 in Grapevine. Weitzman’s Jennifer Chandler negotiated the lease along with the firm's Lynn Van Amburgh, Ben Terry and Avery Frisbie. Shop Cos.’ Katie Rambie represented the retailer.
CONSTRUCTION AND DEVELOPMENT
Dallas County opened its $51M Health and Human Services public health laboratory near the Dallas Medical District. Developed through an agreement with Hunt Real Estate & Infrastructure, the 63K SF facility positions the county to detect, contain and respond to health threats.
Construction began on the 1.6-acre site on West Mockingbird Lane in December 2023, and the Dallas County team took occupancy in January. The project was financed entirely through federal American Rescue Plan Act funding.
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A ribbon-cutting celebration was held last week for the 76-unit affordable housing development The Marcus at 2020 S. Ervay St. in South Dallas. The four-story project was developed by Savoy Equity Partners with investment from the AIC CEI-Boulos Opportunity Fund. That fund is a joint venture of Allivate Impact Capital, a subsidiary of Woodforest Financial Group Inc., and CEI-Boulos Capital Management.
FINANCING
Marcus & Millichap Capital Corp. sourced financing for the acquisition of a 149-key Courtyard by Marriott on Spring Valley Road in Richardson. The firm worked on behalf of ADB Investments Richardson LLC to arrange the 75% loan-to-cost financing from the Small Business Administration. The property recently underwent an extensive exterior and interior renovation. Marcus & Millichap Capital Corp.’s Pete Fehlman and Jake Marshall represented the borrower.
PEOPLE
National law firm Bradley expanded its government enforcement and investigations practice group with the addition of partner Scott F. Mascianica in Dallas. Mascianica has more than 20 years of experience and joins Bradley from Hilgers PLLC, where he led the firm’s government enforcement and investigations practice.
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Savills added Eric Crutchfield as vice chairman in its Dallas office. Crutchfield joins Savills from Stream Realty Partners, where he served as an executive vice president in the firm’s industrial division.
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Partners Real Estate hired Chris Wong as an equity partner in its Dallas office. Wong will focus on building the company’s industrial outdoor storage practice in DFW. He was previously with Bradford Commercial Real Estate.
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Alex Dimock and Sam Murphy joined Bracewell LLP as partners in its Dallas office. The duo will launch the firm’s new real estate special situations practice and expand its capabilities in distressed commercial real estate, commercial mortgage-backed securities, loan workouts and enforcement, and real estate restructuring nationwide. Dimock and Murphy were previously with Holland & Knight LLP.
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McKinney-based Pogue Construction promoted Lou Morelli to CEO to lead the firm’s continued growth. Morelli spent the past four years as president.
THIS AND THAT
Plano-based tax services and software provider Ryan acquired Hucke and Associates, a New York City-based property tax consulting firm. The deal comes a month after Ryan bought Meritax Advisors, a commercial property tax consulting firm with offices in Frisco and Austin.
