Four Seasons Resort Dallas at Las Colinas was purchased by investors.
A partnership between Trinity Fund Advisors and Partners Group purchased the hotel from Extell Development, which purchased the property in 2018.
earlier this year, CEO Dr The news broke that the Four Seasons hotel is planning to give up its association with the property. The Scottsdale, Arizona-based golf management company will manage the golf course and gym portion of the property. No new hotel management company has been announced, although Four Seasons will conclude its management of the property at the end of the year.
Located in Irving, Texas, Four Seasons Resort Dallas is a 431-key luxury hotel that features amenities such as 90,000 square feet of event space, a variety of food and beverage outlets, a swimming pool, and guest access to Four Seasons Golf and Sports. club.
After the acquisition, Partners Group and Trinity plan to implement a multi-million dollar capital improvement plan on the property, according to the statement.
Shaun Heherr, Managing Partner, President and CEO of Trinity. “We are delighted to acquire these high-quality assets on an attractive basis and look forward to leveraging our operational expertise to maximize their value.”
Titan Developments and Aberg Real Estate Advance on the Commercial Road on the Chisholm Trail Ranch
Real estate investment and development firm Titan Development has launched the cornerstone of its latest project: The Trailhead at Chisholm Trail Ranch, along with partner Aberg Property Co.
The Trailhead, a 284-unit multi-family development, is located on 13.5 acres of land in Fort Worth at the northeast corner of McPherson and Brewer Streets.
The next major development in a long line of multi-family, self-storage industrial projects on Titan across the southwestern United States, The Trailhead combines accessibility with several convenient amenities.
Located in the 625-acre community of Chisholm Trail Ranch, this newer complex features a variety of amenities for residents, such as easy access to major employers in Dallas-Fort Worth as well as retail, fine dining, and the community. A large park and an extensive network of hiking trails.
Besides the low-density housing of the 284 residences spread across seven buildings, various other design features focus on leisure and upscale experience. These include multiple areas for outdoor sports and activities, covered parking, storage, a pool, and a dog park.
“The Chisholm Trail Parkway is bursting with growth, and The Trailhead is positioned to provide many much-needed families in this vibrant neighborhood,” said Josh Rogers, Senior Vice President, Titan Development. “We believe that this property, with its shopping and outdoor activities options close by, will make this final phase of Chisholm Trail Ranch a very attractive neighborhood with many live and action benefits.”
Funded by Titan Development Real Estate Funds II and III, the $63 million project is scheduled for completion in the first quarter of 2025 in partnership with Links Construction.
First-time home buyers now need an additional $10,000 of income to buy a home
As mortgage interest rates continue to rise across the United States, first-time homebuyers in Texas are being excluded from the market, according to a statement from Texas A&M University’s Texas A&M University Real Estate Research Center.
Since the beginning of 2022, the average 30-year flat-rate mortgage in the United States has increased by two percentage points; The rate jumped from 3 percent at the start of the year to about 5.25 percent as of May 19, according to experts at the Texas Real Estate Research Center.
Higher interest rates also mean higher qualifying income, says Dr. Claire Lucy, associate economics researcher at the Texas Real Estate Center.
“As mortgage interest rates increase, so does total monthly mortgage payments,” says Dr. Lucy. This increases the income required to qualify for a mortgage. In other words, as mortgage interest rates go up, purchasing power goes down, and families have to earn more money to buy a home at the same price.”
Citing the 5.5 percent increase in required qualifying income, from $59,665 to $70,891, Dr. Lucy estimated that only 30 percent of Texas renters would be willing to take on the state’s first-quarter sales price — a drop of about 10 percentage points since the beginning of the year. the year.
The Humphreys & Partners Architects team won the Student Housing Business Innovator Awards
Many awards have been given to many architecture firms in 12The tenth Annual Business Innovator Awards, hosted by Student Housing Business in Austin. Among the honorees were Humphries & Associates, Dallas-based Architects and HPA Design Group.
Humphreys & Partners Architects’ The Standard at Austin – a 17-story high-rise with an extensive list of amenities – won the Business Innovator Award for Best Architectural Design.
The Department of Interior Design, HPA Design Group, walked away with the best interior design under $250,000 budget for their work in the new student housing community The Retreat at Milledge in Athens, Georgia.
“Both projects are packed with state-of-the-art amenities to create the ideal living/study environment for students at their prospective universities,” said Greg Faulkner, President of Humphreys & Partners Architects. “In essence, our designer teams understand what the client wants to deliver and exceed expectations.”
Holt Lunsford secures the lease of an entire building in Carrollton
DGM Services, Inc. Lease of an entire building at the Valwood Trade Center in Carrollton. Holt Lunsford Commercial represented the owner, TA Realty.
Securing the 69,590-square-foot lease was “critical to the project’s success,” said Keaton Price of Holt Lunsford Commercial. “Receiving a full construction deal has given us another opportunity for our sister building, 1545 Crescent, 1550 Capital.”
Located at 1545 Crescent Drive in the Valwood sub-market, Valwood Trade Center is a prime location in the newly bustling Carrollton area. Stephen Berger of CBRE represented the tenant in the lease negotiations, while Andrew Gilbert and Keaton Price of Holt Lunsford Commercial represented the owner.
JLL offers cypress water boarding solutions
Ascent Solutions, a cybersecurity consultancy, is the newest tenant of Cypress Waters, according to an announcement this week from JLL.
Ascent Solutions will occupy 33,000 square feet and the entire seventh floor of the 2,999 Olympus Blvd. In Coppell, Texas.
The new Ascent Solutions Center is set to move into space by early 2023, where it will serve as a world-class cybersecurity hub for some of the world’s largest companies, according to the release.
When choosing Cypress Waters, Ascent is given a wide range of amenities, expansion opportunities and other accessible surrounding establishments.
“We are rapidly establishing ourselves as a global leader in cybersecurity with one goal: to defeat threats to keep businesses and individuals safe,” said J.D. Harris, CEO of Ascent Solutions. Ascent’s Cypress Waters campus will attract and empower thriving talent as well as serve as a global hub for cybersecurity innovation for years to come. I was impressed to see the leaders in Texas, particularly at Cypress Waters, and the rental property is only the beginning of what Ascent plans to do in this geographic area.”