MANOR, TEXAS — Retail Solutions has brokered the sale of Manor Station, a 4,000-square-foot strip retail center located in the eastern Austin suburb of Manor. The property was built in 2009 and was 100 percent leased at the time of sale. Kevin Murphy of Retail Solutions represented the seller in the transaction and Thomas Allen of Practice Real Estate Group represented the buyer. Both parties requested anonymity.
SUGAR LAND, TEXAS — Rubicon Realty Group LLC has begun work on The Crossing at Telfair, a 45,000-square-foot retail center located at the intersection of State Highways 6 and 90 in the southwestern Houston metro of Sugar Land. Tenants will include H-E-B, Jersey Mike’s, Whataburger, Navy Federal Credit Union and AT&T. Delivery is slated for this fall.
MAGNOLIA, TEXAS — Marcus & Millichap has brokered the sale of a 13,562-square-foot retail property located at 32818 Tamina Road in Magnolia, about 45 miles northeast of Houston. The property had a listing price of approximately $2.5 million. David Fisher and Thomas Costello of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not released.
KILLEEN, TEXAS — BMC Capital has arranged a $4.1 million loan for the refinancing of a 148-unit multifamily community in the central Texas city of Killeen. The 10-year loan features an interest rate of approximately 5 percent and a 30-year amortization schedule. Keith Van Arsdale of BMC Capital arranged the loan through an undisclosed agency relationship. The name of the property and borrower were also withheld.
OKLAHOMA CITY — CBRE has negotiated a 10,800-square-foot lease at 1845 W. Reno Ave. in Oklahoma City. Randy Lacey and Austin Lacey of CBRE represented the landlord, John R. Colbert Real Estate Holdings LLC. Irmon Gray of NAI Sullivan Group represented the tenant, Giant Oil Tools Ltd.
KINGWOOD, TEXAS — NAI Partners has secured an 8,297-square-foot office lease expansion at 900 Rockmead Drive in Kingwood, a master-planned community located about 30 miles northeast of Houston. Zach Leger and Jacob Aldridge of NAI Partners represented the landlord, C-III Asset Management, in the lease negotiations. The representative of the tenant, Humble ISD, was not disclosed.
FRISCO, TEXAS — A partnership between two Atlanta-based firms, Novare Group and Batson-Cook Development Co. (BCDC), has begun work on SkyHouse Frisco Station, a 332-unit multifamily tower that will be located within the Frisco Station mixed-use development north of Dallas. The 25-story building will offer studio, one-, two- and three-bedroom units and amenities such as a rooftop deck, resort-style pool, 24-hour fitness center, business center with a coffee bar, conference room, and an outdoor kitchen with lounge seating. The development is the second multifamily project under construction at Frisco Station behind Station House, a 301-unit community whose first residences will become available for occupancy this summer. SkyHouse Frisco Station is slated for a 2019 completion.
SAN ANTONIO — Bluerock Value Exchange, an affiliate of New York-based Bluerock Real Estate LLC, has sold Grand at the Dominion, a 320-unit multifamily community in San Antonio. The Class A property, which was acquired via a 1031 exchange program, is located within The Dominion Country Club on the city’s northwestern outskirts. Grand at the Dominion consists of one-, two- and three-bedroom units averaging 1,018 square feet per unit. Amenities include a resort-style pool with cabanas, a theater, indoor golf simulator, business center and a fitness center. Bluerock acquired the property in the fall of 2017 from Embry, a San Antonio-based development and management firm.
DALLAS — Greystar will develop Elan Inwood and Forestwood Active Adult, two multifamily properties totaling 377 units in Dallas. The properties will be built adjacent to one another on a 22.7-acre site at the corner of Inwood Road and Forest Lane. Elan Inwood will comprise 168 rental townhome units and 12 single-family homes, while Forestwood will be a seniors housing community with 197 units. Amenities at Forestwood will include a fitness center, game room, media room, demonstration kitchen for cooking classes and a 12,000-square-foot amenity center. Both properties are slated for a late 2019 completion. Andy Scott, Michael Cosby and Sarah Anderson of HFF arranged an undisclosed amount of financing for both developments through CIT Group Inc.
DALLAS — Dougherty Funding LLC has closed a $6.6 million loan for the acquisition of Rosemont at Timber Creek, a 100-unit affordable multifamily community in Dallas. The property, which is located about 11 miles south of the CBD, features amenities such as a pool, fitness center, on-site laundry facilities and children’s play area. Dougherty served as lead lender and servicer for the loan, which was secured on behalf of Texas Timbercreek Housing LP.
