DALLAS — Hunt Mortgage Group has closed a $6.4 million loan for the refinancing of Park Beverly, a 144-unit multifamily property in Dallas. Situated on 2.7 acres on the city’s north side, the property was built in 1963 and features studio, one- and two-bedroom units. The seven-year loan, which features one year of interest-only payments and a 30-year amortization schedule, was arranged on behalf of a Texas-based borrower, Cresta 5827 Blackwell LLC.
HOUSTON — Senior Quality Lifestyles Corp. (SQLC), a developer and manager of seniors housing communities throughout Texas, has completed a $72 million expansion project at The Buckingham, a seniors housing community in Houston. The project delivered roughly 80 new assisted living, skilled nursing and memory support units, an augmented physical therapy gym and new rooms for speech and occupational therapies. The project, construction of which began in late 2015, also included the development of an 11-story tower that features 100 independent living residences, a fitness center, outdoor courtyard and a dining venue with a wine room.
GRAPEVINE, TEXAS — HFF has secured approximately $23.3 million in acquisition financing for two hotels in Grapevine, a suburb of Dallas located near Dallas-Fort Worth (DFW) International Airport. The 94-room Hampton Inn & Suites Dallas-DFW Airport North-Grapevine was built in 2000 and the 96-room Comfort Suites DFW Airport North Grapevine was completed in 2005. Both hotels feature a business center, fitness center, meeting rooms and a pool. Pete Felhman of HFF led the debt placement team on behalf of the borrower, Dallas-based Atlantic Hotels Group. The loan features a three-year term, a fixed interest rate and two one-year extensions.
ALLEN AND CARROLLTON, TEXAS — Disney Investment Group (DIG) has brokered the sale of two shopping centers totaling 57,135 square feet in metro Dallas for a combined $17.1 million. The sold assets include McDermott Towne Crossing, a 42,651-square-foot, Kroger-anchored shopping center in Allen, and Carrollton Retail Center, a 14,484-square-foot center in Carrollton. David Disney and Adam Crockett of DIG represented the seller, Los Angeles-based Westwood Financial Corp., in the transaction. The duo also procured the buyer of both centers, a Texas-based private investor.
EL PASO, TEXAS — CBRE has negotiated a 56,400-square-foot industrial lease at 19 Butterfield Trail in El Paso on behalf of furniture producer South Shore USA Inc. The deal will provide a short-term warehouse lease to bridge the storage gap as the tenant constructs its own facility. Bill Caparis of CBRE represented South Shore USA in the lease negotiations. Chad McCleskey, also with CBRE, represented the landlord, Sealy SW Properties LP.
LUFKIN, TEXAS — Marcus & Millichap has closed the sale of Lufkin Plaza, a 5,943-square-foot retail center in Lufkin, roughly halfway between Houston and Shreveport, La. Philip Levy of Marcus & Millichap represented the buyer, a Texas-based investor that acquired the property via a 1031 exchange. A West Coast-based investor sold the center, which was 100 percent leased at the time of closing.
AUSTIN, TEXAS — Brandywine Realty Trust, a Philadelphia-based REIT, has signed a development agreement to develop a 250,000-square-foot office building at the Garza Ranch mixed-use development in Austin. A timeline for construction has not yet been established. At full build-out, Garza Ranch will consist of 400,000 square feet of office space, 370 multifamily units and a 140-room Aloft hotel, according to the Austin American-Statesman.
SAN ANTONIO — Cruising Kitchens, a fabricator of food trucks and mobile offices, will open a 61,000-square-foot production facility in San Antonio on May 18. The facility will be located at 2100 Mannix Drive near the San Antonio International Airport on the city’s north side, and will include an interactive lobby, viewing windows and a showroom.
HOUSTON AND SUGAR LAND, TEXAS — Breakfast chain The Toasted Yolk Café will open two additional restaurants in the Houston area, including a 5,000-square-foot restaurant in the Galleria area of Houston and a 5,954-square-foot restaurant in the southwestern suburb of Sugar Land. The Toasted Yolk will have seven locations in Houston following the opening of these venues, both of which are slated for August. Paul Vernon of Henry S. Miller Brokerage Co. represented The Toasted Yolk in the lease negotiations for the new spaces.
SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019, respectively.