SAN ANTONIO — CBRE has arranged the sale and financing of Westover Springs, a 296-unit Class A apartment community in northwest San Antonio. The garden-style property, located near the intersection of State Highway 151 and Loop 1604, offers one-, two- and three-bedroom layouts and amenities such as a swimming pool, outdoor fireplace and grilling area, community center and fitness center. Charles Cirar, Ryan Epstein and Michael Wardlaw of CBRE Central Texas multi-housing represented the seller, a joint venture between Carbon Thompson and an equity fund advised by Prudential Real Estate Investors. Jim Kirkpatrick and Jim Richards of CBRE’s Debt and Equity Finance Group arranged the loan with 40/86 Capital. The buyer was Steel Castle Property Partners LLC.
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HARLINGEN, TEXAS — Carter Validus Mission Critical REIT Inc. has acquired the Valley Baptist Health System’s Health and Wellness Center Property in Harlingen for $10.28 million. The property, built in 2007, totals 38,111 square feet and is in close proximity to Valley Baptist Medical Center, the largest hospital in a 50-mile radius. Harlingen is approximately 30 miles east of the McAllen-Edinburg-Mission metro area and 10 miles north of the Mexican border. Carter Validus, a non-traded REIT, is a vehicle of Carter & Associates that focuses on data center and healthcare assets.
GRAND PRAIRIE — PGT Holdings Inc., a Philadelphia-based distributor of dog food and pet treats, has signed a lease in the Dallas/Fort Worth metro area for its newest distribution center. The company will occupy 54,125 square feet of the 129,400-square-foot warehouse at 907 Avenue R in Grand Prairie, about 13 miles west of downtown Dallas. Joe Santaularia and Brian Pafford of Bradford represented PGT in the negotiations, while Canon Shoults of Holt Lunsford Commercial represented landlord DFW I Investors LLC.
PEARLAND, TEXAS — Marcus & Millichap has brokered the sale of Sunrise Lake Center, a two-building office portfolio in Pearland, approximately 15 minutes south of downtown Houston. The asset commanded a list price of $4.6 million. The properties include a four-story, 37,243-square-foot office tower and a 34,983-square-foot professional building located at 9307 and 9223 Broadway Street, respectively. Jerry Goldstein of Marcus & Millichap’s Houston office represented the seller, a financial institution, and also secured the buyer.
AURORA, COLO. – The 143-unit Windsor Court Apartments in Aurora has received a $9-million refinance. The community is located at 1570 Joliet Street. The loan features a 10-year, fixed-rate term and a 30-year amortization schedule. It was originated by Jarett Blasberg of Alliant Capital LLC.
PHOENIX — Baseline Interstate, a 136,683-square-foot industrial warehouse/office property in Phoenix, has sold to Dalfen America Corp. for $7.5 million. The buyer was doing business as Mazal TOV Realty, LPL. The property is located at 4707 E. Baseline Road. The building was vacant at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group represented Dalfen. The seller, Holualoa Companies, was represented by CBRE.
MENIFEE, CALIF. – A 4,000-square-foot property in Menifee that is net leased to Panera Bread has sold to a private investor for $2.1 million. The property is located at 30318 Haun Road. Panera entered into a new 15-year, triple-net sale leaseback with the buyer upon close of escrow. The buyer was represented by Ron Duong in Marcus & Millichap’s Newport Beach office. The seller, also a private investor, was represented by Glen Kunofsky and Don McMinn, also of Marcus & Millichap.
RIVERSIDE, CALIF. – The 208-unit View Pointe Apartments in Riverside has sold to DLPG Real Estate Investment Fund for $32 million. The community is located at 5059 Quail Run Road in the submarket of Canyon Crest. It is less than a mile from the University of California, Riverside. The seller, a private Bay Area investment group, was represented by Dean Zander, Vince Norris and Spencer Scott of Hendricks-Berkadia.
CAMPBELL, CALIF. – The 225-unit Kirkwood Village Apartments in Campbell has received a $25-million refinance. The fully leased community was built in the early 1960s. It is located at 1630 W Campbell Ave. in the San Jose suburb. The long-term, fixed-rate loan was secured by Kenneth M. Fox in Cohen Financial’s San Francisco office on behalf of the local real estate investor/owner/developer. It was funded by Lincoln Financial Group.
MONROE, LA. — Faris Lee Investments has brokered the $14.6 million sale of Pecanland Commons, a Target-anchored shopping center located at 4209-4299 Pecanland Mall Drive in Monroe. Other tenants include Ross Dress for Less, Bed Bath & Beyond and Petco. Target was not included in the sale. Richard Chichester, Matthew Mousavi and Thomas Chichester of Faris Lee Investments, along with Beezie Landry of Stirling Property Group, represented the seller. The buyer, Missouri-based TKG, was self-represented.