HOUSTON — HFF has arranged the sale of 500 Century Plaza, a 49,640-square-foot industrial property in Houston. Built in 1984, the property features office space, 14 grade-level doors and 14-foot clear heights. Trent Agnew, Rusty Hamlyn and Johnny Kight of HFF represented the seller, a joint venture between Archway Properties and NewQuest Properties, in the transaction. Houston-based Finial Group purchased the property for an undisclosed price.
FLOWER MOUND, TEXAS — Ridgeline Capital Partners has sold Prairie View Medical Plaza, a 43,119-square-foot medical office building in the Dallas-Fort Worth (DFW) metro of Flower Mound. Built in 2013, the property was 100 percent occupied at the time of sale to tenants providing dermatology, pediatrics and dental services. The property includes a lab, diagnostics center and a pharmacy. The buyer was not disclosed.
WACO, TEXAS — The PPA Group, an Austin-based investment firm, has sold Arlington Farms, a 168-unit multifamily community located at 1800 Primrose Drive in Waco. The sale includes the 15 acres on which the property is situated. Amenities include a pool, basketball court, tennis court and on-site laundry facilities. Moses Siller and Scott LaMontagne of JLL represented The PPA Group in the sale of the property, which was purchased by TTHFD Investments LLC.
CONROE, TEXAS — NAI Partners has negotiated a 14,732-square-foot industrial lease at 13019 Crockett Martin Road in Conroe, about 40 miles north of Houston. Jake Wilkinson and Darren O’Conor of NAI Partners represented the landlord, Tee Total Engineering Expectations Inc. Kyle Fischer of Belvoir Real Estate Group represented the tenant, KRO Energy Products, a metal fabrication firm.
DALLAS — CBRE has arranged $120.2 million in acquisition financing for a portfolio of six seniors housing properties totaling 1,104 units in the Dallas area. About 37 percent of the portfolio comprises skilled nursing units, 28 percent independent units, 24 percent assisted living units and 11 percent memory care units. The properties range in size from 153 to 267 units and are approximately 35 years old. Aron Will of CBRE secured the financing, which included $39.2 million through Freddie Mac and $81 million through a pair of undisclosed national banks. Lisa Widmier and Imran Ahmed of CBRE represented the buyer, a joint venture between Iowa-based seniors housing operator Life Care Services and Aspect Investment Partners, an investment advisory firm based in Dubai.
ARLINGTON AND FORT WORTH, TEXAS — KeyBank Real Estate Capital has closed $34.9 million in Fannie Mae financing for the acquisition of two multifamily assets located in the Dallas-Fort Worth (DFW) area. The company originated $18.9 million for Bardin Greene Apartments, a 285-unit property in Arlington that was built in 2001; and $16 million for Lost Spurs Ranch Apartments, a 280-unit community in Fort Worth. Chris Black and Caleb Marten of KeyBank originated the loans, which feature 10-year terms, five years of interest-only payments and 30-year amortization schedules. The borrowers were not disclosed.
PLANO, TEXAS — General Dynamics Mission Systems Inc., a Virginia-based defense contractor, will relocate from Richardson to a 104,000-square-foot office space located at 1000 Klein Road in Plano. The City of Plano provided an economic grant for the move, which is expected to bring an additional 280 jobs to Plano, according to the agenda from the Plano City Council’s most recent meeting. The deal calls for 250 of those jobs to be operational by the end of May.
HOUSTON — Williams, a Tulsa-based natural gas infrastructure operator, has renewed its 353,944-square-foot office lease at its namesake tower in Houston’s Galleria neighborhood. The company currently has about 700 employees in the 1.5 million-square-foot building, which was developed by Hines in the early 1980s. Ronnie Deyo and Beau Bellow of JLL represented Williams in the lease negotiations. Dave Hanusa, Bonnie Kelley-Dienna and Jason Presley of CBRE represented the landlord, Invesco Real Estate. Following this renewal, the tower is 92 percent leased.
AUSTIN, TEXAS — Ready Capital Structured Finance, a New York-based bridge and mezzanine lender, has closed an $11.9 million loan for the acquisition, renovation and stabilization of a 200-unit multifamily property in Austin’s Far North Central submarket. The non-recourse, floating-rate loan features a 24-month term with two extension options and a facility to provide for capital expenditures. The name of the property and the borrower were not disclosed.
DALLAS AND FORT WORTH, TEXAS — JLL has negotiated the sale of a portfolio of six self-storage properties totaling more than 3,300 units located throughout the Dallas-Fort Worth (DFW) area. The Class A facilities were all built between 2001 and 2017 and total approximately 430,000 square feet. Features of the properties include a varying percentage of climate-controlled units, 24-hour video surveillance and perimeter fencing. California-based self-storage REIT Public Storage purchased the portfolio from a joint venture between Advantage Storage and Harrison Street Real Estate Capital. Steve Mellon and Brian Somoza of JLL brokered the deal.
