AUSTIN — ARA has arranged the sale of the Reserve at Walnut Creek, a 284-unit apartment complex built in 2002 in Austin. Pat Jones of ARA represented the seller, a Delaware Statutory Trust, in the transaction. Houston-based Tradewind Properties was the buyer. Premium Property USA Inc. of Switzerland provided equity for the transaction.
DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2.7 million purchase loan for an apartment property in Dallas. The five-year loan includes a 3.5 percent interest rate and 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
ARLINGTON, TEXAS — The Greysteel Co., has arranged the sale of Pioneer Creek, a 213-unit property located at 600 W. Pioneer Parkway in Arlington. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Washington, D.C.-based Greysteel represented the seller, BJS 600 W. Pioneer Parkway LLC, in the transaction. Korca Realty Investments was the buyer.
FORT WORTH, TEXAS — Cousins Properties Inc. has sold 777 Main, a 980,000-square-foot, Class A office tower in downtown Fort Worth, for $167 million. Cousins purchased 777 Main for $160 million in September of 2013 as part of its Crescent Texas acquisition, which included the 4.3 million-square-foot Greenway Plaza office complex in Houston. Cousins is a fully integrated, self-managed real estate investment trust. The Atlanta-based company primarily invests in Class A office assets located in Georgia, Texas and North Carolina.
MINNEAPOLIS — Marcus & Millichap has arranged the $2.1 million sale of Amber Court Apartments, a 22-unit apartment property in Minneapolis. Amber Court Apartments is located at 5523 and 5531 Washburn Ave. S. Built in 1959, the building features original woodwork and hardwood flooring, built-in air conditioning units, circuit breakers and a parking garage. Josh Talberg of Marcus & Millichap’s Minneapolis office represented the seller, a private investor. Talberg along with Mox Gunderson and Dan Linnell of Marcus & Millichap’s Minneapolis office represented the buyer, a limited liability company.
MASSILLON, OHIO — Retail Properties of America Inc. has arranged a 50,500-square-foot retail lease in Massillon, approximately eight miles west of Canton. Dunham’s Sports will occupy the space within Massillon Commons located at SR 172. RPAI and Dunham’s Sports will renovate the space, which previously served as a grocery store. The store is expected to open this fall. The sporting goods store operates more than 200 stores in 19 states.
SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.7 million loan to refinance an Applebee’s property in Southfield. The 5,430-square-foot building is a new construction. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Kinaia-Ko LLC, through a life insurance company.
ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of an 8,662-square-foot office building in Ann Arbor. Sleeping Bear Press purchased the property, located at 2395 S. Huron Parkway, for an undisclosed sales price. The children’s book publisher is relocating its Ann Arbor offices to this location. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented both the undisclosed seller and the buyer in the transaction.
SOUTHFIELD, MICH. — Gerdom Realty & Investment has arranged the sale of a 3,400-square-foot, two-story office building in Southfield. A dental practice in the area purchased the freestanding office asset located at W. 10 Mile Road for an undisclosed sales price. Tjader Gerdom of Gerdom Realty & Investment represented the seller, a private owner, and procured the buyer.
TEMECULA, CALIF. – A 24,000-square-foot industrial building in Temecula has sold to Anderson Living Trust for $2.8 million. The building is located at 41973 Remington, within the Legacy Corporate Center. The space was built in 2006. It is triple-net leased to Daltile, a subsidiary of Mohawk Industries. The company manufactures, distributes and markets ceramic tile and natural stone products. The trust was represented by Joe Brady of Colliers International. The seller was Legacy Corporate Center.