ARLINGTON, TEXAS — Dougherty Mortgage has closed a $13 million Fannie Mae loan for the acquisition of Las Lomas Apartments in Arlington. The borrower, DCP 834 Timberlake Drive LLC, used the loan to acquire the 224-unit property. The Fannie Mae 10-year loan features two years of interest-only payments and a 30-year amortization schedule. Dougherty’s Vienna, Va., office arranged the loan through a partnership with Old Capital Lending.
MCKINNEY, TEXAS — Bright Realty has brokered the sale of Century Square, a retail property located at 4600 Eldorado Parkway in McKinney. Anytime Fitness, DOC, Pure Plates and Choice Beverage occupy the 10,377-square-fooot property. Britton Lankford and Tim McNutt of Bright Realty represented the undisclosed seller, while Mark Graybill of Lee & Associates represented the undisclosed buyer in the sale. The acquisition price was not released.
AZLE, TEXAS — Tesla Investments LLC, a holding and investment firm, has purchased a retail building located at 401 Northwest Parkway in Azle, a suburb 16 miles northwest of Fort Worth. Robert Petrie sold the 7,250-square-foot property for an undisclosed price. Sarah LanCarte of Transwestern represented the seller in the transaction.
FORT WORTH, TEXAS — Dougherty Mortgage has closed a $20 million Fannie Mae loan for the acquisition of La Jolla Terrace Apartment Homes, a 340-unit market-rate multifamily property located in Fort Worth. The 12-year loan features one-year of interest-only payments and a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office for the borrower, Katz La Jolla Terrace LLC.
HOUSTON — HFF has arranged fixed-rate financing for Hanover Rice Village, an apartment community located near Rice University in Houston. Cortney Cole, Scott Galloway and Dustin Selzer of HFF arranged the 10-year loan for the borrower, The Hanover Co. Completed in 2013, the property features 379 residential units and 22,599 square feet of retail space. Coppa Italian Food, Punk’s Simple Southern Food and Cyclone Anaya’s Mexican Kitchen occupy the retail space. On-site amenities include a swimming pool, poolside cabanas, fire pit, grilling areas, open-air loggia with fireplace and television, outdoor banquette seating and dining space, a resident club, pet washing station and controlled-entry parking garage.
MANSFIELD, TEXAS — Transwestern has negotiated the sale of an industrial property located at 2155 FM 1187 in Mansfield. Robhana Inc. & Waltco of Nevada Inc. sold the 53,300-square-foot property to Crown Building Products LLC/Comarca Grande for an undisclosed price. Jeff Givens with Transwestern represented the seller in the deal.
HURST AND ARLINGTON, TEXAS — Coldwell Banker Commercial Advisors DFW has arranged two separate sales of office properties in Hurst and Arlington. In the first deal, RAKS Real Estate LLC acquired a 6,503-square-foot office building located at 800 Forest Oaks Lane in Hurst. Doug Tonne Investments sold the property for an undisclosed price. The buyer will use the property as a dental office. In the second transaction, TL Reeves Realty LLC acquired a 7,572-square-foot office building located at 400 N. East St. in Arlington, from Monopoly Ltd. The buyer plans to use the property as an adult daycare facility. The acquisition price was not released. Chris Mendez of Coldwell Banker represented the sellers in both transactions.
CEDAR PARK, TEXAS — Marcus & Millichap has brokered the sale of Cypress Bend Shopping Center, a retail property located at 2051 Cypress Creek Road in Cedar Park. Constructed in 2002, the property features 34,245 square feet of retail space. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a partnership, in the deal. The name of the buyer and acquisition price were not released.
SAN ANTONIO — JLL has arranged the sale of Peanut Factory Lofts, a newly constructed apartment property located at 939 S. Frio St. in downtown San Antonio. 210 Development Group sold the property to Windmill Investments for an undisclosed price. The property features 102 units, a fitness center, dog park and two resort-style pools. Scott LaMontagne and Moses Siller of JLL represented the seller in the deal.
WHITEHOUSE, TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the $6.2 million sale of Oak Brook Health Care, a 120-bed skilled nursing facility in the Tyler suburb of Whitehouse, approximately 110 miles southeast of Dallas. A New York-based owner-operator with a significant existing presence in east Texas purchased the facility from a California-based REIT. The seller was attempting to remove a non-core asset, while the buyer was looking for a value-add opportunity. The purchase price equates to $53,500 per licensed bed. Blueprint’s Christopher Hyldahl and Gideon Orion were lead advisors on the transaction.
