LGI Homes announced the purchase of 208 acres of land in San Antonio’s far West Side with plans to build approximately 800 new homes. Terms of the sale were not disclosed. The deal is part of a larger master-planned development in the area, called Luckey Ranch, which spans over 610 acres of land and will eventually include 2,400 homes.
1600 Pacific Tower in downtown Dallas, a 33-story skyscraper that has been empty for years, could change hands this summer. Current owner, Ricchi Dallas Investments is expected to sell the partially renovated property to New Orleans-based HRI Properties, which is considered to be one of the most experienced historic building renovators in the country.
Macy’s Inc. has recently announced it would invest circa $35 million in expanding its Goodyear online fulfillment center. The expansion will also bring an additional 125 jobs to the area. According to the retailer’s plans, construction is expected to begin this summer, with an opening date set for the spring of 2014, when its fulfillment center in Goodyear will count for nearly 1 million square feet.
Karlin Real Estate, one of the most active real estate investors in Austin, has closed another acquisition recently. The Los Angeles-based investor purchased Plaza 35, a 186,000-square- foot property at 12234 N. I-35.
The 135-room hotel that developer Scott Stiteler is planning at the intersection of Fifth Avenue and Congress Street misses a final piece to become a reality – a $2.5 million loan that the Rio Nuevo board has been asked to provide.
InterContinental Hotels Group PLC has just completed a $13 million makeover of its Holiday Inn San Antonio Riverwalk. The hotel near River Walk underwent full renovation, which can be seen in various aspects of the facility, starting with the lobby.
Victory Healthcare recently announced it would build a new hospital in Fort Worth, at the corner of South Main Street and Pennsylvania Avenue. Sitting on a 6.5-acre site, the $51 million medical center will include an 85,000-square-foot medical facility and 50,000-square-foot medical office building.
Gilbane Development Company and The P.B. Bell Companies have teamed up to develop a luxury apartment community in Chandler. Called Almeria at Ocotillo, the multifamily development will feature 389 units with one, two and three-bedroom options.
Advanced Micro Devices Inc. is close to signing a sell and lease-back deal which is expected to generate approximately $164 million in cash for the technology company. AMD recently announced in a news release that an affiliate entity of real estate investment company Spear Street Capital agreed to buy the property at 7171 Southwest Parkway.
Romero Rose LLC, in partnership with YES Housing Inc., has recently broken ground on Casitas de Colores, a $16.2 million multifamily affordable project in downtown Albuquerque. The 71-unit development targets people with incomes that range from 30% to 60% of Area Median Income.