Trammell Crow JV To Bring Luxury Apartment Project To Richardson: The DFW Deal Sheet

A Trammell Crow Co. subsidiary and its joint venture partner broke ground on a multifamily project in one of Dallas’ closest suburbs.

The joint venture between High Street Residential and Tokyu Land Corp. started work on a 281-unit multifamily community in Richardson. The luxury apartment project is expected to be delivered by the fourth quarter of 2027.

“We see this project as a catalyst for the future of Downtown Richardson,” High Street Residential principal Kevin Hickman said in a statement. “It will build on the existing momentum, bringing new energy and investment to the heart of the city.” 

The four-story project at 110 E. Polk St. will replace two existing buildings and a surface parking lot. 

The city of Richardson provided tax increment financing for the project and will reconstruct Polk Street to include new bike lanes, sidewalks and street parking. The funding will also help develop a new public green space and provide 75 public parking spaces in a shared garage. 

WDG Architects designed the project, while Andres Construction will build it. Other project partners include Urban Structure, V3 Consulting Engineers, Spiars Engineering, TBG Partners and Ellie Aiello Interiors.

SALES

CanTex Capital sold a majority interest in a DFW shallow-bay industrial portfolio to Partners Group and a New York-based global investor. Financial terms weren’t disclosed. The portfolio consists of 20 assets across more than 61 acres in the supply-constrained South Stemmons, Northwest Dallas and DFW Airport submarkets. It comprises around 1.3M SF.

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Gillon Property Group and New York-based real estate investment manager Town Lane acquired the 460K SF Watters Creek Village, a grocery-anchored mixed-use development in Allen. An Ares Real Estate fund provided the debt financing for the acquisition.

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Knightvest purchased the 389-unit Ardan West Village multifamily property in Dallas through Mill Creek Residential, on behalf of its institutional clients. The property at 2975 Blackburn St. is in the West Village shopping and dining district. Institutional Property Advisors’ Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse represented the seller and procured the buyer.

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Younger Partners assisted The NRP Group in the acquisition of 23 acres along Roselawn Drive for the developer’s 297-unit Arbor Ranch affordable housing development in Denton. Younger Partners’ David Hinson represented the buyer, while Foundry Commercial’s Marty Neilon represented the seller. 

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Mapletree Investments sold a nearly 1.4M SF industrial portfolio to Dalfen Industrial for $207.5M. The 19-property portfolio includes 13 warehouse assets in DFW, four in Chicago, and one each in Cincinnati and Indianapolis. Newmark’s Jack Fraker, Dom Espinosa and Travis McEldowney represented Mapletree in the transaction.

LEASES

M2G Ventures fully leased its more than 50K SF urban infill project 4919 Woodall to Dallas-based experiential event design and production company Social Llama Events. The company plans to use the urban industrial space at 4919 Woodall St. in Dallas for office, storage and fabrication. Stream Realty Partners’ Lena Thomas managed the leasing efforts.

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Balfour Beatty leased 35K SF of office space from Clarion Partners at One Victory Park in Uptown Dallas. Cushman & Wakefield’s Matt Schendle and Carrie Halbrooks represented ownership, while Andrew Cheney of Lee & Associates and CBRE’s Phil Puckett and Harlan Davis represented Balfour Beatty.

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Selerix Insurance Services LLC signed a more than 28K SF renewal and expansion, adding nearly 16K SF of office space at One Legacy Circle at 7500 Dallas Parkway in Plano. Bradford Commercial Real Estate Services’ Jared Laake represented the landlords, Land Legacy LP and Manas Legacy LP. Alan Wood of Site Selection Group LLC represented the tenant.

CONSTRUCTION AND DEVELOPMENT

G-Man Development and Trademark Property Co. announced that Celina’s first Walmart Supercenter will open on April 29 at the 150-acre Shawnee Trail mixed-use project. The first phase of the master-planned development will then break ground in 2027. That project will include retail, restaurants and entertainment uses, as well as office space, public areas and a multifamily component. Trademark is working jointly with Shop Cos. to lease the project. 

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The Dallas Stars and the town of Northlake unveiled the 225K SF Children’s Health StarCenter Multisport Northlake facility. The multipurpose athletic space at 13850 Chadwick Parkway in Northlake features two NHL-regulation sheets of ice and eight basketball courts, which can be converted into 16 volleyball courts. The facility will also feature eight pickleball courts and a Shark Club Sports Bar and Grill that are scheduled to open in June. The project’s construction and design were overseen by Lee Lewis Construction Inc. and WRA Architects.

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The Hotel Mockingbird opened on March 24 in the Park Cities neighborhood of Dallas as part of Marriott’s Tribute Portfolio following a complete renovation and rebranding. The 296-room property was acquired in October 2024 by NewcrestImage and is now managed by Coury Hospitality. Two food and beverage locations were added as part of the renovation: Verse Kitchen and Bar and a speakeasy called Raven.

PEOPLE

Worthington Bank hired Brian Compton as Arlington market president and Mark Evans as chief lending officer. Evans will assume his role following the retirement of Chief Lending Officer Dan Mocio. Compton has two decades of experience, while Evans has spent more than 40 years in lending and executive management roles.

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Sally Beauty Holdings Inc. appointed Adrianne Lee to the roles of senior vice president and chief financial officer, effective April 28. Lee will succeed Marlo Cormier, who will be leaving the company on April 11 to pursue other opportunities. Lee most recently served as president and CFO at Bed Bath & Beyond. 

THIS AND THAT

Budner Commercial Properties founder Keith Budner died at 70. A cause of death wasn’t disclosed. The longtime Dallas commercial real estate veteran also ran Keith H. Budner & Associates in the 1980s and joined Swearingen Realty Group in the 1990s.