HOUSTON — CBRE has arranged a $10 million acquisition loan for North Park Apartments, a 192-unit multifamily community in Houston. The property offers one- and two-bedroom units and amenities such as a pool, laundry services and playground. Andrew Behrens and Jesse Weber of CBRE arranged the 10-year, fixed-rate loan on behalf of Clear Sky Capital, a Phoenix-based private equity firm. Goldman Sachs originated the funds.
HOUSTON — Right Move Storage LLC, a Houston-based self-storage firm, is developing a 345-unit self-storage facility at 12121 Westheimer Road in west Houston. The property will span 44,000 square feet and consist entirely of climate-controlled units. The project involves converting an unfinished, two-story medical office building into a self-storage facility, which is scheduled to open this summer. Construction is slated to begin in April.
PLANO, TEXAS — MYCON General Contractors has completed the $7.2 million renovation and expansion of the natatorium (a room that houses a pool) of Carpenter Park Recreation Center in Plano. The project, which began in August 2016, added 14,864 square feet to the natatorium. Dallas-based SmithGroupJJR served as project architect.
OKLAHOMA CITY — Tulsa-based investment firm Admiral Square Inc. has sold a 41,000-square-foot industrial building located at 4601 SW 36th St. in Oklahoma City. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented Admiral Square in the sale. Brett Price and Kris Davis of Newmark Grubb Levy Strange Beffort represented the buyer, 857 Traction Avenue LP, which purchased the property for roughly $2.2 million.
FORT WORTH, TEXAS — The Silver Group has brokered the sale of a 3,900-square-foot retail property leased to Jack in the Box in Fort Worth. The property is located at 3459 Altamesa Blvd. on the southern outskirts of town. The buyer, seller and sales price were not disclosed.
San Antonio is a testament to the old proverb that slow and steady wins the race. Instead of becoming overheated in response to the benefits of strong employment and population growth, the metro’s retail market continues to take a measured approach to growth. That approach has enabled an exceptional occupancy rate for its brick-and-mortar retail inventory. [caption id="attachment_198235" align="alignright" width="100"] Michael Schoenbrun, Weitzman[/caption] Development vs...
HUTCHINS, TEXAS — Indianapolis-based development firm Scannell Properties has completed a 450,000-square-foot distribution center at 1401 W. Wintergreen Road in Hutchins, a southern suburb of Dallas. The rail-served property was developed as a build-to-suit project for Biagi Bros., a California-based logistics firm for the beverage industry. Ware Malcomb provided design services for the project and Evans General Contractors handled construction. The facility is the third industrial facility..
AUSTIN, TEXAS — Hill & Wilkinson has completed the renovation and expansion of Buckner GreenRidge Villas, a seniors housing community in Austin that provides housing and services to 400 seniors each year. O2 Architecture provided design services for the project, which delivered 69 additional one- and two-bedroom units and 70 parking spaces, as well as a central courtyard. The community will now be able to house and serve up to 138 more seniors.
RALEIGH, N.C. — Raleigh-based Greystone Affordable Development has closed $38.5 million in financing for the rehabilitation and development of a portfolio of affordable housing properties in Oklahoma. The multifamily portfolio consists of 13 properties totaling 294 units and serving low-income households across eight counties in Oklahoma. The financing was secured on behalf of Oklahoma-based Green Cos. Development Group Inc., which owns and operates the properties. Most of the funds were..
TEXARKANA, TEXAS — Love Funding has secured a $5.6 million loan for the refinancing of Winfield Estates, a 156-unit affordable seniors housing community in Texarkana, a city on the Texas-Arkansas state line. Built in 2001, the property consists on 39 one-story buildings with units that are all reserved for senior residents earning no more than 60 percent of the area median income. The financing was secured through HUD’s 223(f) loan insurance program and will be used to implement capital..