Texas

Thor Equities Tops Out Residential Tower at Kirby Collection in Houston

by Amy Works February 6, 2017

HOUSTON — Thor Equities has announced the topping out of the residential tower at Kirby Collection, a 1 million-square-foot mixed-use development in Houston’s Upper Kirby District. The 25-story, 385,000-square-foot building will feature 199 apartments in 21 different floor plans, including townhomes, garden lofts and penthouses. Slated for completion in September, the property will also include a clubhouse deck with a pool and cabanas, a fitness center, business center and lounge. Additional amenities include a parking garage, valet parking and a private entrance with 24-hour security. The project team includes E.E. Reed Construction, Richard Keating Architecture, Dianna Wong Architectures + Design, Kirksey, Walter P Moore and WYLIE.

February 6, 2017

Apple Hospitality REIT Acquires 124-Room Hotel in Fort Worth for $18M

by Amy Works February 6, 2017

FORT WORTH, TEXAS — Apple Hospitality REIT has purchased a Courtyard by Marriott in Fort Worth for $18 million, or $145,000 per key. Located at 2537 N. Main St., the hotel features 124 guest rooms, free high-speed internet, meeting and event space, a swimming pool and fitness center. The name of the seller was not released.

February 6, 2017

Multifamily Seniors Housing Texas

SLIB Brokers $1.8M Sale of Skilled Nursing Facility Near San Antonio

by Amy Works February 6, 2017

HONDO, TEXAS — Senior Living Investment Brokerage Inc. (SLIB) has arranged the $1.8 million sale of a 75-bed skilled nursing facility in the San Antonio suburb of Hondo. The facility was built in 1966, and an office annex was added in 1997. The name of the facility was not disclosed. An independent owner-operator from the Dallas area purchased the property. The seller was an operator from a different region looking to remove a non-core asset. Matthew Alley of SLIB arranged the transaction.

February 6, 2017

Loans Multifamily Texas

The Hanover Co. Receives Financing for 355-Unit Apartment Tower in Houston Galleria Area

by Amy Works February 3, 2017

HOUSTON — The Hanover Co. has received fixed-rate financing for Hanover Post Oak, a high-rise apartment building located near Houston Galleria in Houston. Cortney Cole, Scott Galloway and Dustin Selzer of HFF arranged the 10-year, fixed-rate loan through an agency lender for the borrower. Completed in 2014, the 30-story tower features 355 apartment units in a mix of one-, two- and three-bedroom layouts with 10-foot ceilings, hardwood flooring, floor-to-ceiling windows, walk-in closets, open-concept gourmet kitchens and views of Houston’s Uptown and central business district skylines. Community amenities include a pool with private cabanas, 24-hour Technogym fitness center, private screening room, catering kitchen, pet washing station, business center, 24-hour concierge, valet dry cleaning and valet parking services.

February 3, 2017

Multifamily Texas

Peak Real Estate Management Acquires 289-Unit Apartment Community in West Austin

by Amy Works February 3, 2017

AUSTIN, TEXAS — Peak Real Estate Management has purchased Promesa, an apartment community located in west Austin, for an undisclosed price. At the time of sale, the 289-unit multifamily property was 93 percent occupied. On-site amenities include a resort-style pool with cabana lounge seating and outdoor cooking stations, demonstration kitchen, media and gaming rooms, business center with a private conference room and fitness center. Pat Jones of ARA Newmark represented the undisclosed seller and procured the buyer in the deal.

February 3, 2017

Loans Retail Texas

Metropolitan Capital Advisors Arranges $12.7M Acquisition Loan for Shopping Center in McKinney, Texas

by Amy Works February 3, 2017

MCKINNEY, TEXAS — Metropolitan Capital Advisors has arranged a $12.7 million loan for the acquisition of Craig Crossing Shopping Center in McKinney. The loan features a 6.13 percent fixed interest rate with interest-only payments throughout the loan term at 65 percent loan-to-value. Todd McNeill of Metropolitan Capital Advisors arranged the loan for the undisclosed borrower.

February 3, 2017

Retail Texas

Marcus & Millichap Negotiates Sale of 50,937 SF Retail Property in Houston

by Amy Works February 3, 2017

HOUSTON — Marcus & Millichap brokered the sale of Ponderosa Shopping Center, a retail property located at 16300 Kuykendahl Road in Houston. An individual/personal trust sold the 50,937-square-foot property for an undisclosed price. At the time of sale, the property, which was built in 1983, was 61 percent leased. Jerry Goldstein of Marcus & Millichap represented the seller and buyer, a limited liability company, in the deal.

February 3, 2017

Office Texas

Buchanan Street Partners Buys 160,000 SF Office Building in Houston

by Amy Works February 3, 2017

HOUSTON — Buchanan Street Partners has acquired Sam Houston Crossing II, an office building located at 10344 Sam Houston Parkway Drive in Houston. Duke Realty sold the 160,000-square-foot building for an undisclosed price. Forum Energy Technologies, PEMEX and First American Title Co. occupy the three-story office building. Jared Chua of CBRE represented the seller, while Buchanan Street was self-represented in the transaction.

February 3, 2017

Brownsville-Nursing-Rehab-Brownsville-TX

Loans Multifamily Seniors Housing Texas

KeyBank Provides $84.7M in HUD Financing for Six-Property Seniors Housing Portfolio in Texas

by Amy Works February 2, 2017

BROWNSVILLE, WESLACO, HARLINGEN AND EDINBURG, TEXAS — KeyBank Real Estate Capital has provided a total of $84.7 million in HUD financing for a six-property seniors housing portfolio located across Texas. Totaling 722 units, the portfolio includes Brownsville Nursing and Rehabilitation and Ebony Lake Nursing and Rehabilitation in Brownsville; Weslaco Nursing and Rehabilitation in Weslaco; Harlingen Nursing and Rehabilitation in Harlingen; and Edinburg Nursing and Rehabilitation and Windsor Arbor View in Edinburg. John Randolph of Key’s Commercial Mortgage Group arranged the financing through the HUD 232/223(f) mortgage insurance program for the undisclosed borrower. Loan proceeds were used to refinance existing debt.

February 2, 2017

Industrial Texas

Medline Industries Opens $59M Distribution Center in Metro Dallas

by Amy Works February 2, 2017

WILMER, TEXAS — Medline Industries has opened an 800,000-square-foot distribution center in Wilmer, a suburb of Dallas. The $59 million facility is located at Medline Drive and Interstate 45 within Sunridge Business Center. The facility currently employs 55 people. Medline is a manufacturer and distributor of medical products.

February 2, 2017

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