FORT WORTH, TEXAS — Berkadia has secured a $41 million loan for the refinancing of Mansions at Timberland, a 381-unit multifamily property located at 11401 N. Riverside Drive in Fort Worth. The property features a mix of one- and two-bedroom units and amenities such as a saltwater pool, outdoor grilling areas, business center and a fitness center. Stewart Campbell of Berkadia secured the Fannie Mae loan, which features a 75 percent loan-to-value (LTV) ratio and a 30-year amortization..
AUSTIN, TEXAS — Los Angeles-based Orion Real Estate Partners has acquired Triple Crown 2 Apartments, a 199-unit, value-add multifamily community in Austin. Built in 1973, the property is located at 1212 Westheimer Drive, approximately 4.5 miles from the University of Texas at Austin and 5.5 miles from downtown. CBRE arranged a 10-year acquisition loan through Fannie Mae’s Green Financing program on behalf of Orion for the transaction.
FORT WORTH, TEXAS — Addison, Texas-based investment firm S2 Capital LLC has purchased Oakland Hills Apartments, a 332-unit multifamily community located at 807 Heights Drive in east Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, grilling areas and on-site laundry facilities. Mark Brandenburg of JLL arranged acquisition financing for the sale through Benefit Street Partners, a New York-based asset management firm.
DALLAS AND OKLAHOMA CITY — Dallas-based investment firm ATCAP Partners has acquired a portfolio of 16 industrial buildings totaling approximately 1 million square feet. The purchase of the properties, which are located in Dallas and Oklahoma City, brings ATCAP’s volume of industrial acquisitions over the last two months to more than 2 million square feet. Brian Carlton of HFF arranged acquisition financing for the sale through Global Atlantic Financial Group.
HOUSTON — Law firm Jackson Walker has signed a 77,015-square-foot office lease renewal and expansion at 5 Houston Center, a 580,000-square-foot, Class A office property in downtown Houston. The lease includes a renewal of the existing 74,094 square feet occupied by the firm and an expansion of 2,921 square feet. Eric Anderson and Tyler Garrett of Transwestern represented the landlord, Spear Street Capital, in the lease negotiations. Tim Relyea of Cushman & Wakefield represented Jackson..
HUMBLE, TEXAS — NAI Partners has arranged the sale of a 13,361-square-foot industrial property located at 6425 and 6435 Storey Drive in the northeastern Houston metro of Humble. Joel Michael of NAI Partners represented the buyer, industrial contractor Persons Development & Construction Services LLC, in the transaction. Other terms of sale were not disclosed.
AUSTIN, TEXAS — Oden Hughes LLC has broken ground on Lenox Ridge, a 350-unit multifamily community that will be located in north Austin. The property will feature a 1,600-square-foot community work studio on the second floor, which will offer private and community offices, meeting rooms, an open-floor lounge and a hospitality bar. The community is scheduled to open in early 2019.
AUSTIN, TEXAS — KeyBank’s community development lending and investment group has secured $32.3 million in financing for the construction of Harris Ridge Apartments, a 324-unit multifamily complex that will be located in Austin. All units will be rented to residents earning at or below 60 percent of the area median income (AMI). Kyle Kolesar and Jeff Rodman of KeyBank arranged the financing through Freddie Mac’s Tax Exempt Loan program on behalf of NRP Group and the Housing Authority of..
FORT WORTH, TEXAS — A joint venture between Trademark Property Co. and ALTO Real Estate Funds has acquired 5000 South Hulen, an 86,943-square-foot, open-air shopping center in Fort Worth. Anchored by Barnes & Noble and Old Navy, the property was 95 percent leased at the time of sale. Other tenants include Potbelly Sandwich, Jamba Juice and Sprint. The seller was not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of 3033 Chimney Rock, an 80,653-square-foot office building located on Houston’s west side. Alex Zylberglait, Keith Lloyd and Chris Jones of Marcus & Millichap represented the seller, a limited liability company. Lloyd and Jones also secured the buyer, another limited liability company. Other terms of sale were not released.