HOUSTON — Hunt Mortgage Group has provided two Fannie Mae loans totaling $12.5 million for the refinancing of two apartment complexes in Houston. The borrower is a Texas limited partnership. The properties include Hammerly Villa Apartments and Eagle Hollow Apartments. Hammerly Villa is a 174-unit complex in west Houston with a mix of one-, two- and three-bedroom units. It is comprised of 13 apartment buildings, plus a leasing office and two laundry rooms. After its acquisition in 2000, the owners made improvements to the units totaling $850,000. The property was built in 1972 and the loan amount was $4 million. Eagle Hollow contains 350 units and was refinanced with an $8.5 million loan. Hunt Mortgage is a subsidiary of Hunt Companies, formerly Centerline Capital Group.
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HOUSTON — The Morgan Group Inc. has started construction on its latest Pearl luxury apartment project along with co-developer LCB Holdings Inc. The midrise property, which will be called Pearl Washington, is located on 3.1 acres at the corner of Washington Avenue and T.C. Jester Boulevard in Houston. Wells Fargo is providing financing, and the architect is Dwell Design Studio. The project, which is scheduled to open in spring 2016, will rise five stories and include 322 one-, two- and three-bedroom units. Units will range from 652 to 1,443 square feet. Amenities include a swimming pool, business center, gym, dog park and a bocce ball court.
GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a 9,062-square-foot retail property in Garland. Terms of the sale were not released. Blake Burnett with Marcus & Millichap marketed the property on behalf of the seller, LNR Texas Partners LLC. The listing was sold in conjunction with Auction.com to the highest bidder, an out-of-state investment group. The property is located at 3315 N. George Bush Highway and sits on 2.4 acres. It is an outparcel to Kohl’s and Home Depot in north Garland.
AUSTIN — CBRE has arranged a lease for GateHouse Media, a newspaper publisher, at Northview Business Center in Austin. The 18,700-square-foot space will house the company’s new Center for News & Design. The center opened in a temporary facility in May 2014 and will move into a permanent facility in late 2014 in the same office park. The property is located at 9001 N. Interstate Highway 35. The company expects 150 employees to occupy the center by the end of the year. W. Gaines Bagby with CBRE’s Austin office represented Gatehouse. Luke Wheeler and Will Stewart with Transwestern represented the landlord.
GREER, S.C. — Liberty Property Trust plans to break ground on two properties totaling 312,000 square feet in Caliber Ridge Industrial Park in Greer, roughly 12 miles northeast of Greenville. The assets are located at 120 and 140 Caliber Ridge Drive, near I-85 and Highway 101 in close proximity to Greer’s new inland port. The 156,000-square-foot facility at 140 Caliber Drive is a build-to-suit for Bosch Security Systems. The 156,000-square-foot 120 Caliber Drive facility is a speculative property, but Pilot Freight has pre-leased 41,600 square feet at the project. Both assets are expected to be delivered by the end of the year. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer, along with Bryan Blythe of Liberty Property Trust, served as the landlord representation for the two lease transactions. Charlie Whitmire of Cushman & Wakefield | Thalhimer and Kent Ilhardt of Cushman & Wakefield’s Chicago office represented Bosch Security Systems, and Frank Larsen, Trey Pennington and Ryan Koop of CBRE represented Pilot Freight.
WILMINGTON, N.C. — Coldwell Banker Commercial Sun Coast Partners has arranged the $13.9 million sale of Lumina Commons, an 84,000-square-foot grocery-anchored shopping center in Wilmington. The center’s tenant roster includes Harris Teeter, West Marine, Jersey Mikes, The Seasoned Gourmet, Crest Fitness and David’s Deli. Nicholas Silivanch of Coldwell Banker Commercial Sun Coast Partners represented the buyer, Phillips Edison-ARC Shopping Center REIT Inc., in the transaction.
WEST PALM BEACH, FLA. — Jamestown has purchased Village Commons, a 169,118-square-foot, Class A shopping center located at 701-971 Village Blvd. in West Palm Beach. The Publix-anchored shopping center was 92 percent leased at the time of the sale to tenants such as Panera Bread, Cold Stone Creamery, Massage Envy, Edible Arrangements, Weight Watchers and Duffy’s Sports Grill. Jamestown plans to implement a $4.5 million capital improvement program that will expand Publix to 45,600 square feet as part of a new 20-year lease.
ZEPHYRHILLS, FLA. — RCG Ventures has purchased Merchants Square, a 74,837-square-foot shopping located at the intersection of Gall Boulevard and Pretty Pond Road in Zephyrhills, a suburb of Tampa Bay. The property is anchored by Hobby Lobby, Hibbett Sporting Goods and Anytime Fitness. Anthony Blanco of The Shopping Center Group represented the unnamed seller in the transaction. RCG Ventures was represented internally by Scott Tarbet.
PENSACOLA, FLA. — KeyBank Real Estate Capital has secured an $11.7 million fixed-rate CMBS loan for Jasmine Creek Apartments, a 200-unit garden-style apartment complex in Pensacola. KeyBank also secured a $7.6 million fixed-rate CMBS loan for Flats at Ninth Apartments, a 168-unit multifamily property located in Pensacola. Both loans were used to pay off existing KeyBank credit facilities. The sponsor for both loans was The Kislak Organization, a private investor based in Miami.
BUFFALO, N.Y. — CBRE Group has arranged the sale of Ingram Micro East Coast Headquarters, an office complex located in suburban Buffalo. American Realty Capital Partners, a REIT, purchased the property for $24.5 million or approximately $123 per square foot. Situated on 21 acres, the two-building property offers 200,075 square feet of office space: the 170,346-square-foot 1759 Wehrie Drive and the 29,729-square-foot 395 Youngs Road, which are connected by a two-story atrium. Edward Midgley and Dan Kaplan of CBRE’s New York City office, along with V. Jeffrey LiPuma and Bob Starzynski of the Buffalo office represented the owner, Winthrop Realty Trust, in the transaction.