ALLEN — Behringer Harvard has provided mezzanine construction financing for a 444-unit luxury multifamily community, located on a 19-acre site at 1300 N. Custer Road in Allen. The community will feature access to a 40-mile hiking/bike trail, a resort-style pool, a business center, fitness center, coffee bar, clubhouse, game room, exterior courtyards and detached garages. Texas Capital Bank is providing primary construction financing. Irving-based TDI Real Estate Holdings, through a joint venture with Catlyn Capital Corp., is developing the property. Construction begin in August and the first units are slated for lease in May 2013.
LUBBOCK — NorthMarq Capital has secured first-mortgage, long-term financing for Phase I of Canyon West, a 268,090-square-foot retail development in Lubbock. Canyon West's tenants include Target, SAMs, Burlington Coat Factory and Ross Dress for Less. David Mott of NorthMarq's Dallas office arranged the financing.
WALLISVILLE — Pizza Properties, Inc. has opened a 12,000-square-foot Peter Piper Pizza restaurant, the first of 25 Peter Piper Pizza restaurants planned for the Houston market in the next several years. The new restaurant is located at 6223 E. Sam Houston Parkway North on Beltway 8. Additional sites for new Peter Piper Pizza restaurants are currently under construction in Victoria, Corpus Christi and Waco.
TORRANCE, CALIF. — Torrance Promenade, a 269,000-square-foot retail power center, has received a $27.6-million refinancing. The property is located at 19800 to 20100 Hawthorne Blvd. in Torrance. It is currently 99 percent leased. Notable tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City. HFF’s John Crump and Robert Delitsky arranged the 10-year, fixed-rate loan on behalf of KIR (Kimco Income REIT) Torrance, L.P. through the firm’s relationship with a life insurance company. Kimco Income REIT is an affiliate of Kimco Realty Corporation.
LAS VEGAS – The 414-unit Avanti Apartments in Las Vegas has received $20 million in first-mortgage refinancing. Financing was based on a five-year term and a 30-year amortization schedule. NorthMarq Capital arranged this financing on behalf of Fairfield Clairmont I LLC, through the firm’s relationship with a life insurance company. NorthMarq’s Gardiner Champlin, Marty Meagher, Eric Flyckt, Paul Fearey, Marcy Olson and Thomas Powell all collaborated to arrange the financing.
COLUMBIA CITY, WASH. – The 124-unit GreenHouse Apartment building has debuted in Columbia City. The community is located at 3701 South Hudson Street. About half of the units were leased prior to its official opening. Residents will begin moving in this weekend. GreenHouse is the first new market-rate apartment development to be built in Columbia City since 1969, according to its developer, Harbor Urban, LLC. The community is just blocks from Columbia City LINK Light Rail Station, making it a transit-oriented development. The complex is striving for a LEED-Gold certification. It was built by Exxel Pacific and designed by Runberg Architecture Group.
CELEBRATION, FLA. — Inland Private Capital Corp. has sold a 193,463-square-foot office building, located at 220 Celebration Place in Celebration, for $31.1 million. The property is fully occupied by Walt Disney World Co., which has five years remaining on its lease. The buyer was an unaffiliated third party. Stan Johnson Co. represented the seller in the transaction.
GASTONIA, N.C. — REPI has opened its $8 million, 44,000-square-foot North American headquarters, located in the 350-acre Gastonia Technology Park in Gastonia. Carroll Properties Corp. was the site consultant for the project. The new facility will create approximately 40 jobs.
SPARTANBURG, S.C. — Marcus & Millichap has arranged the $3.05 million sale of the 92-unit Timberlane, an apartment complex located at 106 Kensington Drive in Spartanburg. Amenities include a pool, playground, laundry facilities and outside storage. Mark Boyce of Marcus & Millichap represented both parties in the all-cash transaction.
TALLAHASSEE, FLA. — NorthMarq Capital has arranged $36.3 million in refinancing for the 679-bed Campus Circle, a student housing complex located adjacent to Florida State University in Tallahassee. Frank Relihan, Gary McGlynn and Kenneth Gentzel of NorthMarq secured the 10-year loan with a 30-year amortization schedule on behalf of the borrower, a pension fund, through Freddie Mac.