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Texas

Whitestone REIT Lands $80M Acquisition Loan for 216,692 SF Mixed-Use Asset in Houston

HOUSTON — Whitestone REIT has landed an $80 million loan for the acquisition of BLVD Place, a 216,692-square-foot mixed-use asset located at 1700 Post Oak Blvd. in the Galleria area of Houston. Anchored by Whole Foods Market, the property was 99 percent occupied at the time of loan closing to tenants such as Frost Bank, Verizon Wireless and True Food. Matt Kafka and Kelly Layne of HFF arranged the 10-year, fixed-rate loan. Whitestone acquired the property for approximately $158 million from a..

June 20, 2017

KeyBank Provides $33.2M Loan for 310-Unit Apartment Community in Cypress

CYPRESS, TEXAS — KeyBank Real Estate Capital has provided a $33.2 million first mortgage loan for North Haven Apartments, a 310-unit multifamily community located at 17802 Mound Road in Cypress. Trevor Ritter of KeyBank arranged the 10-year Fannie Mae loan, which features four years of interest-only payments and a 30-year amortization schedule, on behalf of the undisclosed borrower.

June 20, 2017

Pioneer Natural Resources to Relocate Headquarters to $1.5B Development in Irving

IRVING, TEXAS — Publicly traded oil and gas firm Pioneer Natural Resources will relocate its headquarters to the 51-acre, $1.5 billion Hidden Ridge development in Irving. KDC developed the 10-story office property at 777 Hidden Ridge that will serve as Pioneer’s new office space. Chicago-based Mesirow Financial purchased the property from Verizon in August 2016 in a sale-leaseback deal for approximately $344 million.

June 20, 2017

Hunington Brokers Sale of 26,721 SF Retail Center in Houston

HOUSTON — Hunington Properties Inc. has brokered the sale of Shops at Cinco Rancho West, a 26,721-square-foot retail center located on the SEC Cinco Ranch Boulevard at FM 1463 in Houston. Rafael Melara of Hunington represented the seller, a local investor and procured the buyer, a Massachusetts-based family trust. Both parties requested confidentiality.

June 20, 2017

Hunt Mortgage Provides $11.6M in Refinancing for 28-Unit Apartment Community in Houston

HOUSTON — Hunt Mortgage Group has provided a $11.6 million Fannie Mae loan for the refinancing of Northland Woods Apartments, a 280-unit, garden-style multifamily community located at 15165 Vickery Drive in Houston. Built in 2005, the 21-building property features two pools, a business center, on-site laundry facilities and a fitness center.

June 20, 2017

De La Vega to Develop 1.4 MSF Mixed-Use Project in Dallas

DALLAS — De La Vega Development will develop OVERstreet at SEVENTYfive, a 1.4 million-square-foot mixed-use project situated at the corner of North Central Expressway and Haskell Avenue in Dallas. The four-building project will deliver 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower. The project will also include three parking garages totaling 2,770 spaces. De La Vega purchased the 10-acre..

June 19, 2017

Woodbine Acquires 224-Room Hilton Dallas Park Cities Hotel

DALLAS — Woodbine Legacy Investments, a division of Dallas-based hospitality investment firm Woodbine Development Corp., has acquired the Hilton Dallas Park Cities, a 224-room hotel located in the University Park neighborhood in Dallas. The 11-story hotel, which was built in 2001 and renovated between 2012 and 2013, features a heated rooftop pool, business center, fitness center and 10,529 square feet of meeting and event space. John Bourret and Austin Brooks of HFF represented the..

June 19, 2017

Boyd Commercial Brokers Sale of 30,114 SF Flex Property in Houston

HOUSTON — Boyd Commercial has brokered the sale of a 30,114-square-foot office/warehouse property located at 9122 and 9000 Telephone Road in Houston. David Munson and David Boyd of Boyd Commercial represented the sellers, MPM Real Estate LLC and Kervinen Petteri, which sold 9122 Telephone Road and 9000 Telephone Road, respectively. Athena Sidhu of RE/Max Top Realty represented the buyer, Aslam Properties Inc.

June 19, 2017

Dougherty Closes $14M in Refinancing of 318-Unit Apartment Community in Dallas

DALLAS — Dougherty Mortgage LLC has closed the $14 million refinancing of El Sol Del Lago, a 318-unit multifamily community located at 3120 Oradell Lane in Dallas. Dougherty arranged the 12-year Fannie Mae loan, which has a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, El Sol Del Lago LLC.  

June 19, 2017

Eastern Union Arranges $1.5M in Refinancing for 128-Room Hotel in Arlington

ARLINGTON, TEXAS — Eastern Union Funding, a New York-based mortgage brokerage firm, has arranged a $1.5 million loan for the refinancing of the Quality Inn at Arlington Highlands, a 128-room hotel located near AT&T Stadium in Arlington. Peter Blass of Eastern Union arranged the loan through Southwest National Bank on behalf of the borrower, RMG Hospitality. A portion of the funds will be used for renovating the property.

June 19, 2017