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Texas

Centurion Breaks Ground on $1B Mixed-Use Development in Farmers Branch

FARMERS BRANCH, TEXAS — Centurion American Development Co. and the City of Farmers Branch have broken ground on Mercer Crossing, a $1 billion mixed-use development in Farmers Branch, a northern suburb of Dallas. Situated on 370 acres at the corner of Luna Road and Whittington Lane, the property will include more than 2,250 apartments, a 48-acre office park, hotel, amphitheater and retail space.    

March 22, 2017

RED Development Secures 68,000 SF Lease for Law Firm in Dallas

DALLAS — RED Development has secured a 68,000-square-foot lease for international law firm Akin Gump at The Union Dallas, an 800,000-square-foot mixed-use development located at the intersection of Field and Cedar Streets in downtown Dallas. The project consists of a 22-story office tower, in which the firm has leased three floors, as well as a 23-story, 309-unit apartment building and a 60,000-square-foot Tom Thumb grocery store. The property, which is scheduled for a 2018 delivery, is now..

March 22, 2017

HFF Arranges Acquisition Financing for 209-Unit Multifamily Property in Fort Worth

FORT WORTH, TEXAS — HFF has arranged an undisclosed amount of acquisition financing for The Venue at Hometown, a 209-unit, Class A multifamily property located at 9012 Courtenay St in Fort Worth. Cortney Cole and Steve Heldenfels of HFF arranged the seven-year loan, which features a 4.06 percent fixed interest rate, on behalf of Venterra Realty, a Houston-based management firm. At the time of the loan closing, the property, which includes a pool, fitness center and business center, was 94..

March 22, 2017

Energy Firm Leases 127,724 SF in Downtown Houston

HOUSTON — Targa Resources Group, a publicly traded midstream energy company, has leased 127,724 square feet of office space at 811 Louisiana St. The Class A, 577,735-square-foot office tower is located in Houston’s Central Business District. Tim Relyea, Chad Beck, David Guion and Morgan Relyea of Cushman & Wakefield represented the unspecified landlord in the transaction. Chip Colvill, Paula Bruns and Damon Thames of Colvill Office Properties represented Targa Resources Group.

March 22, 2017

NorthMarq Arranges Refinancing for 346-Unit Multifamily Complex in Spring, Texas

SPRING, TEXAS — NorthMarq Capital has arranged the refinancing of Alexan Auburn Lakes, a 346-unit multifamily property located at 6000 W. Rayford Road in Spring, about 25 miles north of Houston. Kerry French of NorthMarq structured the transaction with a seven-year term featuring two years of interest-only payments and a 30-year amortization schedule. Freddie Mac provided the funds.

March 22, 2017

NXT Capital Provides $26M Loan to Refinance Apartment Complex in Lewisville

LEWISVILLE, TEXAS — NXT Capital, a Chicago-based lender, has provided a $26 million first mortgage loan to refinance a 242-unit apartment community in Lewisville. The Class A property, which is part of Hebron 121 Station, is located roughly 23 miles from downtown Dallas and offers a resort-style pool with poolside bar, private cabanas, running/biking trails, fitness center and a business center. Roger Wyche of Metropolitan Capital Advisors placed the loan with NXT Capital.

March 21, 2017

Greysteel Negotiates Sale of Nine-Property Multifamily Portfolio in Dallas

DALLAS — Greysteel has negotiated the sale of Geneva Apartments, a portfolio of nine multifamily properties in Dallas. Five of the properties are located on North Ewing Street; three are on North Lancaster Street; one is on North Marsalis Street, totaling 210 units. Boyan Radic, Doug Banerjee, Andrew Mueller and Andrew Hanson of Greysteel represented the unspecified seller. The name and representative of the buyer were not disclosed.

March 21, 2017

Coldwell Banker Secures Two Office Leases Totaling 52,125 SF in Arlington

ARLINGTON, TEXAS — Coldwell Banker Commercial has arranged leases on behalf of General Motors Financial Co. Inc. and Epic Health Services, a nursing and pediatric therapy firm, at Bardin Pointe, a 113,000-square-foot office property in Arlington. GM Financial leased 46,228 square feet and Epic leased 5,897 square feet within the two-story building, located at 1351 E. Bardin Road, to raise its occupancy to 96 percent. Rick Hopwood of Hopwood Commercial Real Estate represented GM Financial,..

March 21, 2017

Vitorino Group Brokers Sale of Gas Station in Plano

PLANO, TEXAS — Vitorino Group, a Dallas-based real estate investments firm, has closed the sale of a 1.2-acre gas station ground leased to Murphy Oil USA in the Dallas suburb of Plano. Vitorino Group represented the seller, a Texas-based private investor, and procured the buyer, a Colorado-based private investor.

March 21, 2017

Marcus & Millichap Arranges Sale of 37,248 SF Retail Center in Houston

HOUSTON — Marcus & Millichap has arranged the sale of Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an undisclosed private investor, and procured the buyer, an unspecified partnership.

March 21, 2017