REBusinessOnline

Texas

PRP Acquires 264,000 SF Office Building Leased to FedEx in Plano’s Legacy West

PLANO, TEXAS — Washington, D.C.-based investment firm PRP LLC has acquired a 264,000-square-foot office building located at 7900 Legacy Drive in Plano. Situated within the 250-acre Legacy West development, the Class A property is fully leased to FedEx and serves as the company’s office and print services global headquarters. PRP acquired the asset in a joint venture with AXA Investment Managers — Real Assets, a subsidiary of French multinational firm AXA. Gary Carr, John Alvarado, Eric..

November 20, 2017

JV to Develop 687-Bed Student Housing Property in Arlington

ARLINGTON, TEXAS — A joint venture between Dallas-based Fountain Residential Partners and HC2 Capital LLC will develop 8FOUR8 Mitchell, a 687-bed student housing property that will be located on West Mitchell Street just west of Cooper Street near the University of Texas at Arlington. The property’s 298 units will consist of a mix of one-, two-, three-, four- and five-bedroom residences. Amenities will include a resort-style pool, a 9,000-square-foot clubhouse with a fitness center and..

November 20, 2017

Electra America Acquires 366-Unit Apartment Community in San Antonio

SAN ANTONIO — Florida-based multifamily operator Electra America has acquired Firewheel Apartments, a 366-unit multifamily community located at 6155 Eckhert Road in San Antonio’s North Hampton neighborhood. Built in 2014, the property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, a pet park, 24-hour fitness center, business center and a gaming lounge with a coffee bar. Electra America purchased the property from HPI Residential. Berkadia arranged..

November 20, 2017

Mason Joseph Secures $42M Construction Loan for 223-Unit Apartment Asset in San Antonio

SAN ANTONIO — Mason Joseph Co. Inc. has secured a $42 million loan for the construction and permanent financing of Brewery South, a 223-unit apartment property located at in the Riverwalk area of San Antonio. Local investment and development firm Silver Ventures is developing the property, which will also be situated adjacent to the Pearl Brewery, a retail and entertainment redevelopment. The U.S. Department of Housing and Urban Development (HUD) provided the nonrecourse loan, which features..

November 20, 2017

Hunt Mortgage Closes $11.1M Refinancing of 300-Unit Apartment Community in Houston

HOUSTON — Hunt Mortgage Group has secured $11.1 million in refinancing for Pine Creek Apartments, a 300-unit multifamily community located at 470 Maxey Road in Houston. Property amenities include two pools, a playground, three laundry facilities, a sports court and a resident clubhouse. Hunt Mortgage secured the funds on behalf of Elandis, a Miami-based investment and development firm, which acquired the property in 2016.

November 20, 2017

Granite Properties Opens 215,000 SF Redeveloped Office Property in Dallas

DALLAS — Granite Properties has opened Factory Six03, a 215,000-square-foot office property located at 603 Munger St. in the West End area of Dallas. Over the years, the 114-year-old building has served as a warehouse, marketplace and movie theater, but was vacant between 2006 and 2015, when Granite acquired it. The redevelopment delivered an additional two floors with views of the Dallas skyline, a tenant lounge, conference center, ground-floor restaurant space, an outdoor plaza and..

November 17, 2017

WWC Acquires Two Multifamily Properties Totaling 480 Units in San Antonio

SAN ANTONIO — Western Wealth Capital (WWC), a Canadian investment firm, has acquired two multifamily properties totaling 480 units in San Antonio. The company purchased Brynwood Apartments, a 276-unit community located at 8711 Bowens Crossing on the city’s northwestern side, and Sereno Park Apartments, a 204-unit property located at 3903 SE Military Drive on the city’s southeastern side. ARA Newmark brokered the sale and an undisclosed private equity firm provided acquisition financing..

November 17, 2017

STRIVE Brokers Sale of 187,767 SF Retail Center in Frisco

FRISCO, TEXAS — STRIVE has brokered the sale of Shops at Stonebriar, a 187,767-square-foot retail center located at the corner of Preston Road and Gaylord Parkway in the Dallas metro of Frisco. Situated adjacent to Stonebriar Centre Mall, the Class A center was 98 percent leased at the time of sale to tenants such as Toys “R” Us, Casual Male XL, Patel Bros. and Fuddruckers. Jason Vitorino and Jennifer Pierson of STRIVE represented the seller, a California-based partnership. A Texas-based..

November 17, 2017

Marcus & Millichap Arranges Sale of 274-Unit Self-Storage Facility in Katy

KATY, TEXAS — Marcus & Millichap has arranged the sale of Franz Road Self Storage, a 274-unit self-storage facility located at 23012 Franz Road in the Houston metro of Katy. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company. Both parties requested anonymity.

November 17, 2017

NAI Partners Secures 91,200 SF Industrial Lease in Northwest Houston

HOUSTON — NAI Partners has secured a 91,200-square-foot industrial lease at 9010 W. Little York Road in northwest Houston on behalf of Favorite Brands, a distributor of alcoholic beverages. John Ferruzzo and Nick Peterson of NAI Partners represented Favorite Brands in the lease negotiations. Matteson Hamilton of Stream Realty Partners represented the landlord, KTR Hou IV LP.  

November 17, 2017