A Los Angeles-based commercial real estate investment firm that specializes in value-add acquisitions picked up a seven-building business campus in Plano.

BH Properties purchased the nearly 298K SF Tollway North Office Park at 6501-6513 Windcrest Drive and 5200-5208 Tennyson Parkway in Plano from private equity firm KBS. The acquisition follows BH Properties’ February 2025 purchase of the adjacent R&D at Legacy campus, bringing its ownership within the Legacy Business Park to more than 675K SF across 14 buildings. 

"This acquisition represents the culmination of a strategic investment thesis we've been executing over the past year," BH Properties President Jim Brooks said in a statement. "By assembling the R&D at Legacy campus with Tollway North, we’re creating a uniquely scaled position in one of the nation's premier corporate corridors."

The seven-building business park was around 70% leased at the time of the deal. 

KBS was represented by Newmark’s Gary Carr, Chris Murphy, Robert Hill and Austin Sheahan, while BH Properties was represented by Scott Henry.

Attorneys Bruce Fischer and Caroline Pricher, along with paralegal Amanda Kennedy, of Greenberg Traurig LLP represented KBS in the disposition.

SALES

M2G Ventures sold a two-building portfolio of shallow-bay industrial properties in Dallas’ Redbird submarket to a partnership of Ackerman & Co. and Baltisse. Located on 6.9 acres at 4545-4585 and 4647-4687 Mint Way in Dallas, the two buildings were constructed in 1975 and have recently undergone institutional renovations. At the time of sale, the 150K SF portfolio was 91% leased to nine tenants.

Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry represented M2G in the transaction. Equity, debt and structured finance advisory was provided by Cushman & Wakefield’s John Alascio and TJ Sullivan.

Cabot Properties sold an eight-building modern industrial portfolio totaling about 2.4M SF across the Dallas-Fort Worth and Houston metros to a private real estate investment firm. Five of the properties, totaling about 2M SF, are in the DFW submarkets of South Dallas, Alliance, DFW Airport and Great Southwest/Arlington, with an average vintage of 2015. The Capital Markets teams of CBRE, Cushman & Wakefield and Eastdil Secured represented Cabot separately across the transaction.

Marco Awards Group purchased the 50K SF building at 4443 Bronze Way in Dallas from an undisclosed seller. Oxford Partners’ Ryan Hartsell and Chase McAteer represented the buyer, while JLL’s Caleb McCoy represented the seller.

St. Vincent de Paul of North Texas acquired a 28K SF building on 3 acres at 4801 S. Buckner Blvd. in Dallas from a private investor. The building will be redeveloped as St. Vincent de Paul of North Texas' second thrift store in Dallas. Marcus & Millichap's Joe Santelli represented the buyer.

LEASES

Joby Aviation Inc. signed a lease for 45K SF at Alliance Air Trade Center in Haslet, which is part of Perot Field Fort Worth Alliance Airport. The leased space marks the first significant presence of an electric vertical takeoff and landing aircraft manufacturer in Hillwood’s AllianceTexas development.

CONSTRUCTION AND DEVELOPMENT

KDC and Pillar Commercial formed a partnership to develop the Class-A One Bethany North office project in the Watters Creek Office Park in Allen. The nine-story office tower will include approximately 225K SF of office and common area space. A 3,500 SF restaurant is also planned as part of the development.

The Allen Economic Development Corp. is structuring an incentive package to launch construction and is partnering with the development team to recruit tenants to the project. Pillar Commercial will lead the marketing and leasing efforts for the new office development. 

April Housing, Blackstone Real Estate’s affordable housing portfolio company, closed on its latest resyndication to preserve affordability for an additional 30 years for residents of the 240-unit Mayfield Park Apartments affordable housing community at 2104 Worth St. in Arlington. 

Through the resyndication process, a communitywide renovation plan totaling more than $21.5M will be completed. Icon Builders will serve as the general contractor, and Benton Design Group will serve as the architect for the project. 

FINANCING

Talonvest Capital secured a $47.6M permanent loan on behalf of The Jenkins Organization and Clark Investment Group for a six-property self-storage portfolio located across five high-growth Texas markets, including McKinney and Frisco. The institutional-quality portfolio totals more than 600K SF of net rentable space. 

The nonrecourse financing features five consecutive one-year extension options, includes interest-only payments throughout the full loan term, and has no prepayment penalties or costs. Thomas Sherlock, Kim Bishop, Carson Kurland and Lauren Maehler were among the Talonvest team members responsible for the financing. 

Nitya Capital closed on the refinancing of the 432-unit Interlace Apartments in Dallas with Morgan Stanley. Nitya secured new institutional financing for the Interlace property at a double-digit debt yield, reflecting the substantial operating income and value created since its acquisition.

Concord Summit Capital arranged a $50M construction loan for the 268-unit Vic Centre Apartments in Fort Worth on behalf of Summa Terra Ventures and M13 Construction. The financing was structured as an 80% loan-to-cost capital stack, combining senior construction debt with mezzanine financing.

Construction has already begun at 7124 Anderson Blvd. and is expected to be completed within 24 months. Concord Summit’s David Larson and Keegan Burger arranged the financing on behalf of the project sponsor.

PEOPLE

Partners Real Estate added Joseph Cooper as equity partner on its industrial team in Dallas. Cooper joins Partners from SRS Real Estate Partners, where he served as an executive vice president and principal. Also joining Partners’ Dallas office is associate Katrina Kieu. 

Loews Hotels & Co. appointed Brian Johnson as area managing director of its Arlington hotel collection. Johnson will oversee operations at Live! by Loews-Arlington and Loews Arlington Hotel and Convention Center, while leading the preopening efforts for Americana by Loews Hotels. He will also continue to oversee Loews Kansas City Hotel. Johnson has more than 24 years of experience with Loews Hotels & Co.

THIS AND THAT

Bradford Commercial Real Estate Services launched a new team dedicated to tenant representation services. Brian Gehrisch will lead the specialized team that will also include Joe Santaularia, Griffin Johnson, Hank Cannon and Coleman Inge.