WARD COUNTY, TEXAS — Cimarex Energy Co., a Denver-based oil and gas exploration firm, has entered into an agreement to sell an undisclosed amount of oil and gas properties and undeveloped acreage in Ward County, a region in West Texas near Midland and Odessa. The properties, which are collectively capable of producing 6,831 barrels of oil equivalent per day, will be sold for $570 million in cash to Callon Petroleum, a Mississippi-based oil and gas firm. The transaction is expected to close during the third quarter.
FORNEY, TEXAS — Dallas-based JMJ Development will build Parc at Windmill Farms Apartments, a 272-unit community that will be located in Forney, an eastern suburb of Dallas. The 17-building community will consist of 116 one-bedroom units, 120 two-bedroom apartments and 36 three-bedroom residences. Amenities will include a pool, clubhouse, business center, internet café, fitness center and a gathering room with a kitchen. A timetable for construction has not yet been established.
HOUSTON — New York-based Meridian Capital Group has arranged a $7.5 million loan for the acquisition of 5800 North Course, a 75,000-square-foot office building located in the Westchase area of Houston. The property includes 2,500 square feet of food service space and roughly 600 parking spaces. The building has been fully leased to financial services firm Alltran since it was constructed in 2001. Shaya Ackerman and Shaya Sonnenschein of Meridian Capital arranged the loan on behalf of Windmill Investments, a firm specializing in value-add projects.
FORT WORTH, TEXAS — Dougherty Mortgage LLC has provided a $3.9 million Fannie Mae loan for the acquisition of Willow Manor Apartments, a 71-unit multifamily community in Fort Worth. Built in 1965, the property includes studio, one-, two- and three-bedroom units and amenities such as a pool and on-site laundry facilities. The 12-year loan, which utilized the Fannie Mae Green Rewards program and has a 30-year amortization schedule, was arranged on behalf of Colosseus Property Group III LLC.
KINGWOOD, TEXAS — Marcus & Millichap has brokered the sale of Rustic Woods Center, a 17,266-square-foot retail center in Kingwood, a master-planned community on the northern outskirts of Houston. Nate Newman of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Gus Lagos, also with Marcus & Millichap, represented the buyer, a private investor.
COLORADO SPRINGS, COLO. — Nexus Commercial Realty has arranged the acquisition of a multifamily portfolio in Colorado Springs. Denver-based Slipstream Properties purchased the seven-building portfolio from a Colorado Springs-based apartment owner for a total consideration of $102.2 million. Adam Riddle and Jason Koch of Nexus Commercial Realty represented the buyer and seller in the deal. The properties are: Pine Creek Village Apartments, a 312-unit property that sold for $29.2 million. Shannon Glen Apartments, a 192-unit property that sold for $17.8 million. Cedar Creek Club Apartments, a 175-unit community that sold for $14.2 million. El Vecino Apartments, a 174-apartment community that sold for $12.2 million. 162-unit South Pointe Apartments, which sold for $13.3 million. 84-unit Timbers Apartments that sold for $7.3 million. New Horizons Apartments, a 79-unit property that sold for $8 million.
DENVER — The Bascom Group has purchased Modera at Observatory Park Apartments, a newly constructed infill apartment community located in Denver, from an undisclosed seller. The price was $92.5 million, or $336,364 per unit. Built in 2017, the property features 275 Class A apartment units. Mill Creek Residential will manage the property. Charles Halladay, Jamie Kline and Brock Yaffe of HFF arranged $66.7 million in acquisition financing through TH Real Estate for the purchase. Tim Shunta of National Realty Advisors brokered the acquisition. Since 2005, Bascom and its affiliates have acquired 30 multifamily properties in the Colorado market, totaling 11,057 units.
SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Origin Apartments, a seven-story multifamily property located at 12311 32nd Ave. NE in Seattle’s Lake City neighborhood. JB Matteson acquired the property for $53 million, or $346,405 per unit. Kim Grant of IPA represented the buyer in the deal. The seller was not disclosed. Constructed in 2017, the property features 153 units in a mix of studio, one- and two-bedroom apartments averaging 750 square feet. Community amenities include a rooftop deck, an outdoor dog park and gated underground parking.
SAN DIEGO — CBRE has arranged the sale of Torrey Del Mar Plaza, a strip retail center located at 13857-13859 Carmel Valley Road in San Diego. Carmel Valley Plaza LLC sold the property to a local private investor for $6.5 million. Situated in the Torrey Highlands submarket, the 10,008-square-foot property was 100 percent occupied at the time of sale. Eight service-type tenants occupy the property, including a dentist, yoga studio, dry cleaner and animal hospital. Reg Kobzi, Sam Alison, Mike Philbin and Amar Goli of CBRE represented the seller, while Jason Richards represented the buyer in the transaction.
LAHAINA, HAWAII — CoastWood Capital Group LLC has signed four new tenants to The Outlets of Maui, a 150,000-square-foot, open-air shopping center in Lahaina. Waikiki Brewing Co. will open at the center, joining restaurant tenants such as Ruth’s Chris Steak House and PI Artisan Pizza. The 3,940-square-foot brewpub will open this fall. Other tenants that will join the Outlets of Maui include: Kate Spade, which will open a 3,250-square-foot store this fall; Le Creuset, scheduled to open a 1,600-square-foot location in June; and Maui Sunglass/Maui Jim, which will relocate to a new, 950-square-foot location within the center. In addition to the new retailers, Warren & Annabelle’s an entertainment venue for magic and comedy, will undergo a complete renovation to its existing 5,700-square-foot space. Existing tenants at the Outlets of Maui include Coach, Michael Kors, Gap Factory Store, Banana Republic Factory Store and Tommy Hilfiger.