DALLAS — Panther Transaction Group has sold the 158-unit Casa Linda, a multifamily community located at 2808 St. Augustine Drive in southeast Dallas. The property is currently 90 percent occupied. Transwestern's Dallas Multifamily Group represented the California-based buyer and the seller in the transaction.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co. has arranged $11.9 million in first mortgage refinancing for a 12-story Wells Fargo office building, located along the Southwest Freeway in Houston. Travis Fite of Q10's Houston office arranged the 10-year loan with a 30-year amortization schedule through Prudential Mortgage Capital.
KINGWOOD — NorthMarq Capital has secured first mortgage refinancing for the 48,835-square-foot Kings Crossing Town Center, located at the intersection of Lake Houston Parkway and Kingwood Drive in Kingwood. Tenants of the retail center include Cornerstone Mortgage, Chachi's Mexican and First American. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through one of its long-time CMBS lending relationships on behalf of the borrower, KCTC.
TEMPE, ARIZ. – The 408-unit Tempe Groves complex has sold to Fairfield Residential for an undisclosed sum. The property is located at 909 West Grove Parkway within the master-planned community of Elliot Groves, which is in Tempe. The seller, a nationwide multifamily investment and development firm, was represented by Cliff David and Steve Gebing of Marcus & Millichap’s Phoenix office.
MURRAY, UTAH — Parley’s Partners has begun construction on Birkhill on Main, a new $45-million mixed-use development in Murray. It will be located at 4255 South Main Street. The project will include 311 luxury apartment homes, as well as a three-story office building upon build-out. Phase I will feature 137 units, including 41 market-rate and 96 affordable housing units in a five-story building. Phase II, set to commence in June 2013, will add 65 more units. Phases III and IV will include 109 additional units and a 35,400-square-foot office building, respectively. The first three phases are expected to be complete by 2016, with Phase I wrapping up in March 2013. Phase IV’s completion will be based upon pre-leasing. The eco-friendly, transit-oriented project is being built by Kier Construction and designed by KTGY Group.
RIVERSIDE, CALIF. – Spectra Premium has signed a 52-month lease for 85,000 square feet at the Meridian Business Park. It is located at 14530 Innovation Drive in Riverside. The auto parts distributor will use the Class A building for its West Coast distribution operations. Spectra was represented by Ryan Miller of Voit’s Inland Empire office. The landlord, GE Capital Real Estate, was represented by Walt Chenoweth, Frank Geraci, Juan Gutierrez and Patrick Wood of the same office.
BUENA PARK, CALIF. – Home Design Outlet Center has leased an 18,179-square-foot industrial building in Buena Park. The outlet center plans to use the space as a product showroom and West Coast distribution center. Home Design was represented by Chuck Wilson and Brian Chastain of Colliers International. The landlord, RREEF, was represented by CBRE’s Laird Perkins.
ORLANDO, FLA — H&R REIT has purchased the 83,167-square-foot Regency Village, located at the intersection of Vineland Avenue and International Drive South in Orlando, for $16 million. Publix anchors the center, which is 97 percent leased. Michael Cleeman of Cohen & Co. represented the buyer in the off-market transaction. Helen Putterman, also of Cohen & Co., represented the seller, Cohen Commercial Properties.
NEW PORT RICHEY, FLA. — Blue Rock Partners has sold the 143-unit Park at Ashley Place, a multifamily property located on Vista Verde Drive in New Port Richey, for $8.05 million. The property is 95 percent occupied. Cole Whitaker and Jason Stanton of Hendricks & Partners represented the seller in the transaction.
HENDERSONVILLE, TENN. — P&M Investment Co. has broken ground on the $3.5 million, 20,000-square-foot Shoppes at Maple Corner, a retail center located at the intersection of Indian Lake Boulevard and Maple Drive in Hendersonville. Southeast Venture LLC, the leasing agent, has secured a 4,300-square-foot lease with Sola Salon Studios. Completion is slated for the end of 2012.