DALLAS — Hunt Mortgage Group has arranged a $10 million Fannie Mae loan for the refinancing of Spanish Brook Apartments, a 248-unit, garden-style apartment complex located at 11511 Ferguson Road in east Dallas. The loan features a 12-year term, 25-year amortization schedule and an 11.5-year yield maintenance period. To date, the undisclosed, Texas-based borrower has invested $7 million in renovations to the unit interiors and building exteriors of the property.
DENTON, TEXAS — SHOP Cos. has brokered the sale of San Jacinto Plaza, a 61,853-square-foot retail center located at 2300 San Jacinto Blvd. near Interstate 35 in Denton, a city in north Texas equidistant from Dallas and Fort Worth. At the time of sale, the property was 87 percent leased to tenants such as Office Depot, Foot Spa and Mattress Firm. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the seller, a Dallas-based limited partnership, in the transaction. An undisclosed limited liability company from Plano purchased the property.
LA PORTE. TEXAS — Hines, a global real estate investment firm, has acquired Underwood Distribution Center, a Class A, 2.2 million-square-foot industrial park located at 359 Old Underwood Road in La Porte, approximately 12 miles east of Port Houston. The center consists of five buildings that are 100 percent leased, as well as three development parcels. Hines’ first addition to the property will be a 167,000-square-foot distribution building, which is slated for delivery in the fourth quarter of this year.
DALLAS — Greysteel, an investments services firm, has brokered the sale of Royal Lane Apartments, a 172-unit multifamily complex in north Dallas. Located at 2825 Royal Lane near Interstate 635 and the Royal Lane DART station, the property features a courtyard, picnic area and on-site laundry services. Boyan Radic, Doug Banerjee, Andrew Mueller and Andrew Hanson of Greysteel represented the seller in the transaction. Other terms of the sale were not released.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Alcove at Alamo Heights, a 107-unit multifamily community located at 6419 N. Vandiver Road within a few miles of San Antonio’s CBD. Units at the property, which includes a resort-style pool with cabanas and poolside grills, average 923 square feet each. Will Balthrope, Drew Kile and Jordan Featherstone of Marcus & Millichap represented the seller, Stillwater Capital, in the transaction, and procured the undisclosed buyer.
MESQUITE, TEXAS — Stream Realty Partners has negotiated a 199,750-square-foot industrial lease renewal and expansion at 1201 Big Town Blvd. in the east Dallas suburb of Mesquite on behalf of CHEP USA, an Atlanta-based logistics solutions company. Cannon Green, Matt Dornak and Ryan Wolcott of Stream Realty represented the landlord, Huntington Industrial Partners, in the lease transaction. Cushman & Wakefield represented the tenant in the deal.
IRVING, TEXAS — CBRE has secured a 228,952-square-foot lease at 951 Valley View Lane in Irving on behalf of international supply chain operator Geodis Logistics LLC. Ann Huntington of CBRE represented Geodis in the lease transaction. The representative of the landlord, Liberty Property LP, was not disclosed.
HOUSTON — Prologis Inc. has purchased four Class B distribution warehouses totaling 809,196 square feet in Houston. The four buildings are located within West by Northwest Industrial Park, a 39.6-acre property situated near the intersection of Beltway 8 and U.S. Highway 290 on Houston’s northwest side. Rusty Tamlyn and Trent Agnew of HFF represented the seller, an affiliate of Nuveen Investments, a Chicago-based asset management firm. The sales price was undisclosed.
DALLAS — Baker Botts LP, an international law firm, has renewed its 104,179-square-foot lease at Trammell Crow Center, a 50-story, 1.1 million-square-foot office tower located at 2001 Ross Ave. in downtown Dallas. Ramsey March, Sara Terry and Scott Sowanick of Stream Realty Partners represented the landlord, Trammell Crow Co., in the negotiations. Phil Puckett and Harlan Davis of CBRE represented Baker Botts.
SPRING, TEXAS — Woodbine Development Corp., CDC Houston and USAA Real Estate have broken ground on a 337-room Marriott CityPlace hotel in Spring, a northern suburb of Houston. The 10-story hotel will anchor the eastern end of CityPlace, a 60-acre mixed-use development within the master-planned community of Springwoods Village. Amenities of the hotel, which is set to open in November 2018, include a pool with a bar, two ballrooms and an outdoor event area.