Inpatient Rehab Hospital Underway In Spring: The Houston Deal Sheet

Construction firm Robins & Morton broke ground on a 58K SF freestanding inpatient rehabilitation hospital in Spring. 

The hospital will have 40 private rooms and be on the campus of St. Luke’s Health-Springwoods Village Hospital. It is expected to open in spring 2027. 

Robins & Morton celebrated the groundbreaking with St. Luke’s Health, a member of CommonSpirit Health, as well as Lifepoint Rehabilitation, an operating division of Lifepoint Health. 

Lifepoint Rehabilitation will manage the day-to-day operations of the facility. Robins & Morton is the general contractor. ESa is the architect.

PEOPLE

SparrowHawk, a Houston-based industrial investment and operating company, hired Scott Brast as senior vice president of investments and capital markets and Peter Wismer as senior vice president of finance and financial reporting. 

Brast will lead investment sourcing, capital markets initiatives, partnerships and acquisitions across the firm's portfolio. He has more than 35 years of investment and capital markets experience, with three decades at American National, most recently as chief mortgage loan and real estate investment officer.

Wismer will oversee the firm's financial reporting, accounting operations, forecasting, compliance, investor reporting and financial strategy. He has a decade of accounting, financing and advisory experience and spent his career at Deloitte. 

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Welcome Group promoted Ted Kakambouras to senior director of acquisitions. Kakambouras joined Welcome Group in 2020 and has helped identify and execute acquisitions across markets, supporting the group’s expansion beyond Texas.

Welcome Group also promoted Ryan Wasaff to senior director of leasing and development for Greater Houston. Wasaff joined Welcome Group in September 2001 and has led industrial development and leasing initiatives. He will continue overseeing development and leasing efforts across Welcome Group's Houston portfolio while taking on expanded responsibilities.

SALES

Lincoln Property Co. completed the off-market sale of Maverick Distribution Center. Lincoln and joint venture partner Hartford Investment Management Co. completed construction of the 436K SF industrial project at 18239 Aldine Westfield Road in North Houston in January 2025.

Modular Power Solutions leased the entire building in February. Lincoln declined to disclose the buyer or the price.

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A local investor bought a 20,500 SF shopping center at 112 Highway 146 in La Porte as part of a 1031 exchange. Marcus & Millichap’s Justin Miller marketed the property on behalf of the seller, an out-of-state investor, and procured the buyer.

Built in 2014, the retail center is leased on a triple-net basis and anchored by Dollar Tree. 

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Russell and Sons Holding Co. acquired a property with two industrial buildings totaling 25K SF at 2216 Pech Road in Northwest Houston. Richard Glass and Conrad Chambers of Lee & Associates represented the seller, All-Tex Erection Systems Inc.

LEASES

MetroNational’s 990 Town & Country office building reached 93% occupancy less than one year after acquisition. Boardwalk Pipelines leased 143K SF and will relocate its headquarters to the building. 

The University of Texas at Austin's McCombs School of Business leased 30K SF on the sixth floor to expand its Houston programming. Its build-out includes tiered classrooms, a 7K SF multipurpose area, study rooms, staff offices and terrace access for weekend MBA students.

NuScale Power, a provider of small modular reactor nuclear technology, also leased 30K SF. JLL leads leasing efforts at the 452K SF building. 

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Stockdale Partners has renewed or added 132K SF of leased space at 20 Greenway Plaza in the past nine months, led by Bank of America renewing its 71K SF lease.

Four new leases total 25K SF: 

• BrightNight, a power and digital infrastructure company, leased 8,800 SF and was represented by Eric Anderson, Evelyn Ward and Avery McGahee of Transwestern.
• PowerTransitions, a company that acquires and rejuvenates operating and retired power generation and industrial facilities, leased 8,350 SF and was represented by Dan Boyles of Partners Real Estate.
• Nosh Franchise, a tech-focused meal-delivery business, leased 4,200 SF and was represented by Steve Rocher of CBRE.
• AB Commodities, which finances, stores and transports bulk energy materials, leased 3,700 SF and was represented by AJ Jandali of KW Commercial.

FINANCING

JLL Capital Markets arranged acquisition financing for 11403 N. Houston Rosslyn Road, a 19-acre industrial outdoor storage property with a 53K SF crane-served facility. The property is fully leased to a single tenant in the steel pipe distribution sector, which has occupied it for more than 20 years. 

JLL worked on behalf of Matt Haley, Cort Martin and Garrett Marler of Apricus Realty Capital to secure the five-year, fixed-rate loan. The JLL debt advisory team that represented the borrower was led by CW Sheehan, Jack Britton, Peyton Ackerman and Nate Henderson.

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The NHP Foundation closed on $32M of financing for Trinity East Village Senior, a new 90-unit affordable housing community for people 55 and older in Houston’s Third Ward. The project is being developed in partnership with Trinity East Village Community Development Corp. and Housing Alliance HTX.

The financial agreement includes the provision of 81 project-based vouchers. Additional financing includes a seller note from Trinity East United Methodist Church, funding from the city of Houston and investment from Rice Real Estate Co.

Other funders include Bank of America and Churchill Stateside Group. Hudson Housing Capital served as tax credit syndicator.

NRP Construction will start construction this summer, and the community is anticipated to welcome residents in 2027.

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April Housing, Blackstone Real Estate’s affordable housing portfolio company, closed a resyndication of Park at Fort Bend, a Houston-area affordable housing family property, extending affordability for an additional 30 years and partnering with the Fort Bend County Housing Finance Corp. 

Through the resyndication process, a communitywide renovation plan totaling over $24M will upgrade residents’ homes and improve community amenities. The 250-unit property was built in 2001. All units are leased at 60% of area median income. 

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Institutional Property Advisors Capital Markets secured construction financing for Grand Parkway NW Industrial Park, a 15-building light industrial development in Northwest Houston along Grand Parkway just west of State Highway 249.

IPA’s Cullen Atchison and Hayden Sieling represented Adkisson Group in arranging the financing with a regional bank. The project will total 430K SF. Building sizes will range from 12,500 SF to 55,500 SF. Construction is expected to commence in the third quarter of 2026.