CHICKASHA, OKLA. — Old Capital has arranged an acquisition loan for Willowbrook Apartments, a 50-unit multifamily property in Chickasha. The non-recourse, 10-year loan features an 80 percent loan-to-value with three years of interest-only payments and a step-down prepayment option. The borrower and loan amount were undisclosed.
NEW BRAUNFELS, TEXAS — Sodalis Senior Living has planned three new communities to open in Texas during 2017. In early 2017, Sodalis plans to open Sodalis at Stone Oak, a 63-bed assisted living and memory care community in San Antonio. Later in the year, Sodalis will open a 48-unit assisted living expansion at Sodalis at Buda Memory Care in the Austin suburb of Buda. In late 2017, Sodalis plans to open Tribute Senior Living, a 100-bed memory care and assisted living community in the Dallas suburb of Prosper. Founded in 1998, Sodalis Senior Living is a Texas-based provider of assisted living and memory care apartments.
COPPELL, TEXAS — BFS Services Inc. has renewed its lease for 167,820 square feet of industrial space at 500 Airline Drive in Coppell. Reed Parker of Lee & Associates Dallas/Fort Worth represented the tenant, while Tom Irish provided in-house representation for the landlord, Transpacific Development Co., in the deal.
FORT WORTH, TEXAS — Fort Capital has begun development on Fort201, a multifamily property located within The Foundry in Fort Worth’s West 7th Street District. The two-building property will feature 72 studio, one- and two-bedroom apartment residences with rents starting at $1,075 per month. The units will feature high-tech capabilities, Carrara marble countertops, stainless steel appliances and an electronic doorman. Construction is slated for completion later this year. The Foundry is a mixed-use development headed by M2G Ventures.
SAN ANTONIO — Venterra Realty has received a seven-year, fixed-rate loan through Freddie Mac’s CME Program for French Place Apartments, a garden-style apartment community located in San Antonio. Cortney Cole of HFF arranged the financing for the borrower. Located at 109 W. French Place, the property features 84 units in a mix of one- and two-bedroom floor plans. Community amenities include a swimming pool, barbecue grills, courtyards, a laundry facility and parking. At the time of financing, the property was 97 percent occupied.
DALLAS — TIG Real Estate has arranged the sale of an office building located at 17250 N. Dallas Parkway in Dallas. Situated on 2.2 acres, the property features 40,112 square feet of office space. Matthew Hickey and Kristin Grammar of TIG represented the undisclosed seller. The name of the buyer and acquisition price were not released.
FRISCO, TEXAS — The Vitorino Group has arranged the sale of two retail properties in Frisco. A New York-based fund acquired the properties for undisclosed price as part of a 1031 exchange. The 3,001-square-foot and 2,960-square-foot properties are absolute net-leased to 7-Eleven with four years remaining on both 18-year leases. The Vitorino Group represented the undisclosed seller in the deal.
DALLAS — Lee & Associates has arranged the sale of an industrial property located at 11529 Emerald St. in Dallas. StoneDome sold the 26,908-square-foot property to LeeRoy Jordan Lumber, a wholesale supplier of lumber and lumber supplies, for an undisclosed price. Nathan Denton of Lee & Associates represented the seller, while Michael Haggar and Alan Wood of JLL represented the buyer in the deal.
AUSTIN, TEXAS — High Street Residential and Principal Real Estate Investors (PREI) have broken ground for Crestview Commons, a four-story residential property located adjacent to the Crestview MetroRail station at North Lamar Street and Sugaree Avenue in Austin. The property will feature 353 apartment units in a mix of one-, two- and three-bedroom layouts ranging in size from 642 square feet to 1,405 square feet. Community amenities will include a conference room, resident lounge, entertaining kitchen, top-floor indoor and outdoor clubroom, three courtyards, pool and a dog park. JHP Architecture is serving as project architect and Andres Construction is the general contractor. Comerica Bank and Southside Bank are providing construction financing. Pre-leasing is slated to start in January 2018.
OKLAHOMA CITY — Binswanger has arranged the sale of an industrial building located at 6700 S. Sooner Road in Oklahoma City. Barr and Hoffman Properties acquired the 18,480-square-foot building from Barclay Properties for an undisclosed price. The building feature four 16-foot overhead doors, two 20-foot overhead doors, one 15-ton crane and 950 square feet of office space. Kipp Collins of Binswanger represented the seller in the deal.
