June 15, 2020 (Lewisville, TX) – Bright Realty successfully finalized three new tenant leases at Offices at The Realm at Castle Hills, a nine-story Class AA office building consisting of 235,000 square feet of office space and an additional 16,000 square feet of ground-floor restaurant and retail space. These three transactions bring the building to 80 percent leased. Offices at The Realm is located at State Highway 121/Sam Rayburn Tollway and Josey Lane in Lewisville and is part of the 324-acre master-planned The Realm at Castle Hills.

Global Medical Response, the world’s largest medical transport company, has leased 60,000 square feet –two full floors– at Offices at The Realm. Global Medical Response has more than 38,000 employees nationwide who provide medical care primarily in the areas of emergency and patient relocation services, fire services and disaster response. GMR’s Offices at The Realm location will serve as one of two headquarter locations and will include a 24/7 disaster relief call center. Employees relocating to The Realm are coming from GMR’s offices in Lewisville and Farmers Branch; a number of GMR’s Denton employees will also office at The Realm.

“Global Medical Response sent more than 1,500 employees to New York and New Jersey to serve on the frontline in the battle against COVID-19,” said Lucas Patterson, Bright Realty EVP. “We are proud, now more than ever, to have a tenant with this level of commitment and compassion officing at The Realm.”

“Offices at The Realm is the ideal space for our DFW-based employees,” said Randy Owen, GMR CEO. “We wanted one location to bring some of our metroplex teams together with easy access to major thoroughfares and DFW International Airport, as well as access to top-notch amenities and technology. Our team members will also appreciate the clean, contemporary design of the interior space as well as the outdoor areas.”

Lincoln Property Company’s Worthey Wiles, Jake Young and Dalton Stogner represented Bright Realty in this transaction; JLL’s Kevin Mechelke, John Ruskin, Greg Biggs, and Jeremy McGown represented the tenant.

Additionally, CSC Corptax, a tax software provider, has leased 15,000 square feet. Lincoln Property Company represented Bright Realty in the transaction; Cushman & Wakefield represented the tenant. Texas VA Mortgage also leased 4,000 square feet at Offices at The Realm. Lincoln Property Company represented Bright Realty in the transaction; Swearingen Realty Group represented the tenant.

Earlier this year, tenant Venture X opened its new 30,000-square-foot coworking space, which takes up the entire third floor. The flexible, upscale office space offers workstyle options from open community work areas and shared desks to private offices and meeting rooms.

All tenants at Offices at The Realm at Castle Hills enjoy first-floor restaurants and retail; a tech lounge and conference center; a fitness facility with locker rooms, showers and changing rooms; and Crescent Park, an outdoor space for relaxing throughout the day with a Bellagio-style water feature. It also is one of very few buildings in North Texas that is Wired Certified by WiredScore, which guarantees best-in-class Internet connectivity in commercial buildings.

First floor restaurant space includes El Patio, is a 3,800-square-foot casual concept from Chef Salvador Hernandez at The Lakes at Castle Hills private golf and country club. It will feature what the chef calls “Mex-Tex,” a blend of authentic Mexican cuisine and true Texas barbecue, and open late summer 2020.

Offices at The Realm is the first phase of The Realm at Castle Hills, a 324-acre, mixed-use lifestyle destination that includes office, dining, retail, entertainment and multi-family developments. It is a suburban live/work/play community close to DFW International Airport, outstanding schools, thriving businesses and a variety of affordable multi-family, single-family, townhome and condominium products in the Castle Hills community. Future phases of The Realm at Castle Hills currently under construction include Valor at The Realm, 260 apartments above 37,000 square feet of retail delivering this fall; Discovery at The Realm Phase II, 312 apartments delivering this summer; Sojourn condominiums, 80 units over 8,000 square feet of retail delivering in late spring; and Aura at The Realm, 400-plus apartments over 45,000 sf of restaurant and retail space delivering in 2021.

The development is located in the Upper Tollway submarket of Dallas just west of State Highway 121/Sam Rayburn Tollway and Josey Lane. The Realm is a 15-minute drive to DFW International Airport, a two-minute drive to Grandscape, and a four-minute drive to Legacy West and the corporate headquarters of Toyota, Liberty Mutual, FEDEX and JP Morgan Chase. It offers an easy commute from Plano, Carrollton, The Colony and Frisco.  BOKA Powell is architect for Offices at The Realm; design architect/ interior designer is 505 Design; landscape architect is LandDesign; general contractor is Hill & Wilkinson; Southwest Bank, a division of Simmons Bank, is lender for the project; Canyon Partners is lending partner. Lincoln Property Company is leasing the office space; Bright Realty is managing the brokerage of the retail/restaurant space.

Read more here. 

About Bright Realty

Founded in the 1950s by the late H.R. “Bum” Bright, former Dallas Cowboys owner and businessman, Bright Realty is the full-service commercial and residential real estate arm of parent company Bright Industries. Led by a family legacy of integrity and dedication, the Bright Realty team acts as developer, owner and operator of its residential and commercial developments. Best known for the highly successful 2,900-acre, master-planned residential community, Castle Hills, in Lewisville, Texas, Bright Realty also specializes in mixed-use, office, retail and multi-family development and brokerage. 

Visit www.BrightRealty.com or call 972-410-6600. 

Photo credit: Bright Realty

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(Los Angeles, CA) – Canyon Partners Real Estate LLC® (“Canyon”) has provided $14.7 million of preferred equity to Bright Realty LLC (“Bright Realty”) to finance the ground-up construction of Phase II of The Realm at Castle Hills, a 260-unit, five-story, Class A apartment community with ground-floor restaurant and retail space in the market-leading Upper Tollway submarket of Dallas. This marks Canyon’s second investment with Bright Realty in the Castle Hills community, having provided $16.7M of preferred equity last year to finance Offices at The Realm, a 250k square foot office tower immediately adjacent to the apartment community.

The Realm at Castle Hills continues Bright Realty’s expansion of Castle Hills, a 2,800-acre, award-winning master-planned community established by Bright Realty in 1997. When complete, The Realm will include 1.5 million square feet of multifamily, retail, office, restaurant and entertainment space, along with an extensive outdoor entertainment area including a hike and bike trail system, creating a vibrant, urban live-work-play environment.

Phase II of The Realm at Castle Hills will offer one- and two-bedroom units with interior finishes including granite countertops, engineered hardwood flooring, and custom lighting. Community amenities include a pool, fire pits, hammocks and outdoor games, as well as a fitness center and community lounge. The first-floor retail offers exceptional State Highway 121 visibility and will feature restaurants and neighborhood conveniences.

“The 121 Corridor is considered the new Central Business District of the DFW area,” said Chris Bright, Bright Realty CEO. “It’s both a thriving center for business development and a lifestyle destination because of its urban feel and amenities as well as its access to DFW Airport.”

The area surrounding Castle Hills is home to some of the top employers in the Dallas-Fort Worth metroplex, including Toyota Motor Company, Nebraska Furniture Mart, Raytheon Corp. and FedEx Office. “As the area population continues to grow, so will the need for more varied housing types and walkable communities,” said Eric Stanley, Bright Realty president and COO.

“We are very pleased to extend our partnership with Canyon to complete the cornerstone and second phase of The Realm at Castle Hills,” said Stanley. “The team’s dedication and experience in creating mixed-use properties will help us deliver a desirable lifestyle-focused community in one of the country’s fastest growing job markets.”

Canyon has a long track record of investing in the multifamily sector. Over the past five years, Canyon has made over $750 million of debt and equity investments in multifamily assets nationwide, supporting the financing of over $2.3 billion of projects.

The Phase II architects are 505 Design based in Boulder, Colorado, and BOKA Powell. The landscape architect is Land Design; Andres Construction is the general contractor and BB&T is the lender. Phase II of The Realm at Castle Hill is scheduled to deliver in the Fall of 2020.

About Canyon Partners Real Estate LLC

Founded in 1991, Canyon Partners Real Estate LLC® (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with over $24 billion in assets under management. Over the last ten years, Canyon has invested approximately $4.6 billion of debt and equity capital across over 170 transactions capitalizing over $12 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 27 years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts).

For more information visit: Canyon Partners. 

About Bright Realty 

Headquartered in Castle Hills, Bright Realty specializes in residential and commercial land development, including master-planned communities, office, retail and mixed-use lifestyle centers. The company is a full-service real estate firm offering services such as land brokerage; customized property management and accounting; leasing advisory services; owner and tenant representation; project management; asset disposition; golf course operations; and landscape services.

For more information about Bright Realty, visit: Bright Realty

Media contacts:

For Canyon: Maureen Richardson
River Communications
914-686-5599
mrichardson@riverinc.com

For Bright Realty: Jamie Hawkes
Margulies Communications
214-368-0909
jhawkes@prexperts.net

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