BEDFORD, TEXAS — ARA Newmark has brokered the sale of Cottages at Bedford, a 168-unit apartment community located at 2000 Park Place Blvd. in the Dallas-Fort Worth metro of Bedford. Amenities of the property, which was built in 1983 and renovated in 1987, include a pool, business center and resident clubhouse. The buyer and seller were not disclosed.
DALLAS — Mujeres Banderas III, a partnership between Commercial Real Estate Women Dallas and San Francisco, has sold a 16,000-square-foot warehouse property located on Duncanville Road in south Dallas. The property was the last asset owned by the Mujeres Banderas partnerships. The buyer and sales price were not disclosed.
DALLAS — Eko Construction has received $1.9 million in construction financing for Bishop Arts Townhomes, a residential rental community in Dallas. The two-phase project will deliver 24 units averaging approximately 1,500 square feet per unit. Charley Babb and Justin Laub of Metropolitan Capital Advisors placed the loan through an undisclosed lender.
IRVING, TEXAS — Stream Realty Partners has negotiated an office lease expansion at 1320 Greenway in Irving on behalf of The Clay Paul Group, an insurance brokerage firm. The lease expands the company’s footprint to 4,677 square feet, roughly double the size of its previous space. Tyler Maner of Stream represented the tenant in the negotiations. Jeff Wood of Peloton represented the landlord, Arden Group.
HOUSTON AND COLLEGE STATION, TEXAS — Hurricane Harvey has brought massive amounts of rain, flooding and destruction to southern Texas, but reports show that on- and off-campus student housing properties have largely escaped the worst of the damage. The Texas Tribune reports that colleges in Houston have cancelled class and evacuated some student housing as the rain continues to fall and floodwaters continue to rise. About three buildings on the University of Houston campus have taken on water, and 140 students were evacuated from Bayou Oaks, a university-owned, off-campus apartment complex for older and international students. Most universities in Houston — such as Rice University and Victoria College — reported minor damage including leaks and power outages. Texas A&M University-Corpus Christi also reported minor structural damage, according to The Texas Tribune. The first day of classes has been pushed to September 5. Texas A&M University’s Kingsville and College Station campuses also reported no major building damage or flooding, and plan to begin classes early next week. Servitas reports that Park West — a 3,406-bed student housing community developed through a public-private partnership with Texas A&M University in College Station — did not receive any damage or leakage during the storm. The …
DALLAS — HFF has arranged the refinancing of Highland Park Village, a roughly 250,000-square-foot shopping center in Dallas. The property is currently leased to 75 tenants, including Chanel, Jimmy Choo, Christian Dior, Honor Bar and Cafe Pacific. John Brownlee and Cullen Aderhold of HFF arranged the financing, which comes to $225 million, according to The Dallas Morning News, on behalf of the borrower, HP Village Partners LP.
DALLAS — Marcus & Millichap’s Dallas-based multifamily investment team has brokered the sale of a six-property portfolio of multifamily properties located throughout Texas for approximately $41 million. The properties include the 172-unit Country Place in Abilene; the 14-unit Fair Oaks in Dallas; the 88-unit Legends of Lindale in Lindale; the 112-unit Riverwood in Temple; the 162-unit La Vita in Dallas; and the 108-unit The Carlton in Fort Worth. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the sellers and procured the buyers for each property.
DALLAS — Greysteel has brokered the sale of French Colony, a 94-unit multifamily property located at 1239 Hartsdale Drive in Dallas. Built in 1964, the property consists of 41 one-bedroom units and 53 two-bedroom units averaging about 755 square feet per unit. Boyan Radic and Doug Banerjee of Greysteel brokered the sale on behalf of the seller, a local private investor, in the transaction. The buyer and other terms of sale were not released.
DALLAS — Revere Capital has provided $9 million in short-term financing for a 169-bed skilled nursing facility located in the Rowlett suburb of Dallas. The property, which was damaged in a 2015 tornado, was recently remodeled and rebuilt. Revere Capital provided a 24-month financing package, which will be replaced by HUD funds upon stabilization of the property.
ADDISON, TEXAS — Gaedeke Group has negotiated a 14,562-square-foot office lease at Millenium Tower in Addison. Gaedeke Group owns the building, which is located at 15455 Dallas Parkway, and was represented internally by Elliot Prieur and Allison Johnston. Craig Wilson and Dean Collins of Cushman & Wakefield represented the tenant, Manpowergroup US Inc., a workforce solutions firm.
