NEW BRAUNFELS, TEXAS — Brasfield & Gorrie has completed the $120 million Resolute Health hospital in New Braunfels. The hospital spans 364,000 square feet in four stories, including 22 emergency exam rooms, trauma rooms, operating rooms, intensive care units and neonatal care rooms. Construction started in June 2012. The hospital sits on a 56-acre well campus that also will include community centers, green spaces, retail shops, restaurants, a fitness center and day spa.
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BURLESON, TEXAS — Kroger has purchased 13.35 acres at the Burleson Common Shopping Center at Highway 174 and FM 731 in Burleson. The grocer plans to build a 114,000-square-foot store, joining Premiere Cinemas as the anchor tenant at Burleson Commons. Other tenants in the area include Target, The Home Depot, Office Depot and CVS/pharmacy. Cullinan Properties and Burleson Commons LP sold the site to Kroger.
HOUSTON — Greystone has provided $9 million in HUD financing for two multifamily housing properties in the Houston area. Lexington Square, an 80-unit Section 8 property in Angleton, was refinanced with 30-year HUD loans. Countryside Village, a 182-unit Section 8 property in Humble, was refinanced with 35-year HUD loans. John Williams, a senior mortgage originator for Greystone, originated the loans on behalf of the owner, National Community Renaissance.
HOUSTON — Peloton Capital Partners has sold a recently renovated two-building office property in Houston’s Westchase district to Pennybacker Capitol InSite Realty Partners for an undisclosed amount. The properties total 121,700 square feet and are 80 percent occupied. Todd Casper and Mike Hassler with CBRE’s capital markets team arranged the sale. ITT Educational Service Inc. anchors the two-building asset, located at 2950 and 3030 S. Geasner near the Westpark Tollway and U.S. Highway 59.
DALLAS — Marcus & Millichap has brokered the sale of Holly Park, a 160-unit apartment property located at 9710 Military Parkway in Dallas. The property features one- and two-bedroom units located in 10 two-story buildings. The property's rentable square footage is 120,128 square feet, with an average unit size of 751 square feet. Community amenities include two on-site laundry facilities, a playground area, on-site maintenance and a courtyard. John Barker with Marcus & Millichap’s Fort Worth office represented the seller, a partnership, and the buyer, a limited liability company, in the transaction.
SACRAMENTO, CALIF. — Jackson Properties has acquired University Office Park, a 130,000-square-foot office campus in Sacramento, for nearly $20 million, according to reports. The six-building campus is located at 777 Campus Commons Drive in the master-planned community of Campus Commons. The campus is situated on 12 acres next to two fully leased office buildings that Jackson recently developed. The transaction includes additional land for future development. The property is flanked by Fair Oaks Boulevard, as well as University and Howe avenues.
LOS ANGELES – NationBuilder has signed a 10-year lease for 54,780 square feet of space in Biltmore Court at the Millennium Biltmore Hotel Los Angeles in Downtown. The property is located at 520 South Grand Ave. The community-building software technology company will occupy the entire second floor of the historic building, which spans from Grand Avenue to Olive Street, overlooking Pershing Square. Renovations to convert this space into a creative office will commence immediately. The Biltmore’s second floor hasn’t been occupied for several decades. This is the largest lease executed in the Biltmore’s history, and the largest office lease by a local technology start-up in Downtown Los Angeles, according to CBRE Research. NationBuilder was represented by Dennis Smith and Griffin Farriss of Travers Realty. The landlord, WHB Biltmore LLC, was represented by CBRE’s Andrew Tashjian.
PHOENIX – City 15, a 161-unit apartment complex in Phoenix, has sold to Retirement Concepts for $10.8 million. The 26-building complex is located at 4728 N. 15th Street. The community was built in 1969. It was 96 percent occupied at the time of sale. The seller, Mica Creek-Sagamore Capital Partners, was represented by Brett Polachek and Jim Crews of Cushman & Wakefield.
LAKE FOREST, CALIF. — Foothill Center, a 19,400-square-foot shopping center in the South Orange County submarket of Lake Forest, has sold to a China-based investor for $7.6 million. The non-anchored retail strip center is located at 20641-20671 Lake Forest Drive, just north of Interstate 5 and Highway 241. The center is 95 percent occupied. Notable tenants include Baja Fresh, Enterprise Rent-A-Car and Wasabi Sushi. The buyer represented itself in this transaction, while the seller, The Mayfield Trust, was represented by Matthew Mousavi and Patrick Luther of Faris Lee Investments.
PANORAMA CITY, CALIF. – The 16-unit Villa De Fano Apartments in Panorama City has sold to a buyer in a 1031 exchange for $2.8 million. The community is located at 9413 Van Nuys Blvd. It was built in 1987. The buyer was represented by Joshua Levy and Matthew Dobson of Newmark Grubb Knight Frank. The private seller was represented by Warren Berzack and Slavic Zlatkin of Berzack Investment Property Advisors, a multifamily specialty group of Lee & Associates.