Carillon’s Phase One Complete; Atlanta Fund Acquires Williams Square, Home of the Mustangs

By Camelia Bulea, Associate Editor Hines has completed phase one of the Carillon master-planned development, a 285-acre mixed-use community located just northwest of Southlake Town Center near Dallas-Fort Worth International Airport. The developer has delivered 94 home sites, some of which [...]

Hines has completed phase one of the Carillon master-planned development, a 285-acre mixed-use community located just northwest of Southlake Town Center near Dallas-Fort Worth International Airport. The developer has delivered 94 home sites, some of which were purchased by companies like Atwood Custom Homes, Cambridge Luxury Patio Homes, Tresor Custom Homes and Atrium Fine Home, according to Citybizlist.com.

The community will ultimately include single-family garden homes with enclosed front courtyards near community lakes and ponds. Additionally, Carillon will feature European-style architecture, formal gardens, landscaped boulevards and public art. Residents will be able to enjoy facilities including a spa-like swim center, a playground, two lakes and a community sport court.

Construction on model homes is expected to begin in January, while development has begun on parts of the Plaza District and Corporate District, the mixed-use segment of the project.

In other real estate news,  Atlanta-based The Brookdale Group purchased Williams Square, the 1.4 million-square-foot Class A office complex in Las Colinas known for its famous Mustangs of Las Colinas statue, from Cousins Properties in what became the largest office acquisition in Dallas-Fort Worth in 2011, according to Dallas Business Journal.

This is the fourth property that the fund has acquired in the past year. The office complex was built on a 16-acre site in Las Colinas and includes four buildings: a 26-story office tower flanked by two 14-story towers and an adjacent five-story building, as reported by a company news release.

The property, fronted by the famous bronze statue of nine mustangs, is 92.5 percent occupied by 64 tenants, among them Pioneer Natural Resources, Flowserve Corp. and La Cima Club. The buyer plans to make almost $10 million worth of capital improvements to the complex, which fronts Lake Carolyn and was completed in 1985.

Cousins Properties will continue to lease and manage the property.

Photo credits: Wikipedia.org