HOUSTON — Provident Realty Advisors will develop Port 99, a 1.2 million-square-foot industrial project that will be located near Port Houston on the city’s southeast side. The development’s multiple buildings will have front-load and cross-dock configurations, clear heights of 32 to 40 feet, 437 parking stalls and 1,184 trailer parking stalls. Warren Hitchcock and Emily Zarcaro of Northmarq arranged equity from an undisclosed source on behalf of Provident Realty Advisors. Construction will begin before the end of the current quarter and is expected to last about a year. Lee & Associates is marketing the project for lease.
SAN ANTONIO — Northmarq has arranged a loan of an undisclosed amount for the refinancing of Plaza at Concord Park, an 82,824-square-foot office and retail complex in San Antonio’s Stone Oak neighborhood. The three-building complex was constructed in 2007 and houses tenants such as FedEx Office Print & Ship Center, Trend Aesthetics & Wellness, Jimmy John’s, Natural Remedy Store and First Watch. Bryan Leonard of Northmarq arranged the five-year, fixed-rate loan through an undisclosed life insurance company. The borrower was also not disclosed.
HOUSTON — Northmarq has arranged an acquisition loan of an undisclosed amount for a 90,029-square-foot industrial building located at 8950 Railwood Drive in northeast Houston. Built in 1989, the single-tenant building features 21-foot clear heights, 11 exterior docks and 18,500 square feet of office space. Blane Eikenhorst and Tony Gray of Northmarq arranged the nonrecourse, fixed-rate loan, which was structured with a 10-year term and a 75 percent loan-to-value ratio, through Ameritas Investment Partners. The borrower/owner-occupant was not disclosed.
ST. LOUIS — Northmarq has originated a $10 million Freddie Mac loan for the refinancing of The Vineyards, a 426-unit multifamily property in St. Louis. The community consists of 19 buildings that were constructed in 1973 and renovated in 2002. David Garfinkel of Northmarq secured the fixed-rate loan on behalf of the undisclosed borrower. Kohner Properties Inc. manages the community.
DALLAS — Northmarq has brokered the sale of Wyndham on the Creek, a 150-unit multifamily property in North Dallas. Built in 1984, the property offers one- and two-bedroom units that range in size from 603 to 1,100 square feet and are furnished with washer and dryer hookups, granite countertops and private balconies/patios. The amenity package comprises a pool, clubhouse, business center and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Charles Hubbard and Philip Wiegand of Northmarq brokered the deal. The buyer was a partnership between two Dallas-based firms, Realty Capital Partners and Windmass Capital. The seller were not disclosed.
CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of Indigo Apartments, a 220-unit multifamily property in Corpus Christi. According to Apartments.com, the property was built in 1969 and offers studio, one-, two-, three- and four-bedroom floor plans. Amenities include a pool, fitness center, business center, playground and a dog park. Moses Siller of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.
DUNCANVILLE, TEXAS — Northmarq has brokered the sale of Candlelight Park, a 128-unit apartment complex in Duncanville, a southwestern suburb of Dallas. Built in 1980, the property offers one-, two- and three-bedroom units ranging in size from 688 to 1,078 square feet. Amenities include a playground and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Philip Wiegand and Charles Hubbard of Northmarq represented the undisclosed seller in the transaction. Kevin Leamy, also with Northmarq, arranged fixed-rate Freddie Mac acquisition financing on behalf of the buyer, which was also not disclosed.
HONDO, TEXAS — Northmarq has arranged the sale of Las Palomas Apartments, a 108-unit multifamily property located in the western San Antonio suburb of Hondo. Built in 1995, the property offers two- and three-bedroom units and amenities such as a playground, dog park and onsite laundry facilities. Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe and Brian Booth of Northmarq represented the seller, Lonestar Springs, in the transaction and procured the buyer, Revive Real Estate. Cheryl Higley of Northmarq also arranged acquisition financing on behalf of Revive Real Estate.
DALLAS — Northmarq has provided an undisclosed amount of Fannie Mae financing for Oasis Apartments, a 506-unit multifamily community in North Dallas. The seven-year, fixed-rate bridge loan carries a 35-year amortization schedule and takes out existing debt. Oasis Apartments features one-, two- and three-bedroom units, with private balconies/patios available in select residences. Amenities include a pool, fitness center, clubhouse, picnic areas and a playground. James Currell and Kyle Summerford of Northmarq originated the financing on behalf of the borrower, locally based investment firm Willowood Group.
DALLAS — Northmarq has arranged the sale of Grand Seasons Apartment Homes, a 144-unit multifamily complex in North Dallas. The property was built in 1978 and offers one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining areas and a dog park. Taylor Snoddy, Charles Hubbard and Eric Stockley of Northmarq brokered the deal. The buyer and seller were not disclosed. The new ownership plans to implement a value-add program.