July 30, 2010
HFF ARRANGES $24.5 MILLION LOAN FOR APARTMENT COMPLEX
PEARLAND, TEXAS — Holliday Fenoglio Fowler has secured a $24.5 million loan for the 392-unit Alexan Shadow Creek Ranch apartment complex in Pearland. The property is located at 11900 Shadow Creek Parkway in the city's 3,500-acre, master-planned Shadow Creek Ranch community. Alexan Shadow Creek is 95 percent occupied. Freddie Mac financed the 10-year, fixed-rate loan. Jody Thornton and associate director John Ahmed of HFF worked to arrange the loan.
FORMER MACY'S SOLD IN ARLINGTON
ARLINGTON, TEXAS — Messina Properties has sold a 162,000-square-foot store that formerly housed a Macy's to a private buyer for an undisclosed amount. The property is located on 14 acres at Six Flags Mall in Arlington and will be redeveloped. Cushman & Wakefield of Texas brokered the sale.