ABILENE AND AMARILLO, TEXAS — Walker & Dunlop has arranged $22.4 million in bridge financing for a trio of multifamily properties totaling 572 units in Texas on behalf of a partnership between Pilgrim V and GRA Equities. The company arranged $6.4 million for the 152-unit Warwick Apartments in Abilene; $4 million for the 144-unit Coulter Landing apartments in Amarillo; and $12 million for the 276-unit Wind Tree Apartment Homes in Amarillo.
FORT WORTH, TEXAS — Atlanta-based investment and management firm Carroll Organization has acquired Century Colonial Park and Gallery 1701, two multifamily properties totaling 405 units in the riverfront area of Fort Worth. The properties, both of which were built in 2009, will be rebranded as The Trinity Residences and managed by Carroll Management Group.
MCKINNEY, TEXAS — Hunt Southwest will develop a 400,000-square-foot industrial facility in McKinney. The property, which will be built entirely on a speculative basis, will be located near U.S. Highway 380 and be branded University Business Park, according to The Dallas Morning News. A timetable for construction has not yet been established.
FORT WORTH, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has brokered the sale of Atrium West, a 48,898-square-foot, Class B office building located at 8851 Camp Bowie West in Fort Worth. Theron Bryant and Joe Hamilton of CBCA represented the seller, Hangover Opportunity Fund, in the transaction. Greg Hoffman of Colliers represented the buyer, Aberfeldy Properties Inc. The building was 93 percent leased at the time of sale.
CASTLE HILLS, TEXAS — Oldham Goodwin Group LLC has negotiated the sale of The Gallery, a 19,888-square-foot office building located in the San Antonio suburb of Castle Hills. The three-story property is situated on the east side of Northwest Military Highway, just north of Loop 410. Steve Monroe and Ben Berry of Oldham Goodwin represented the buyer, a San Antonio-based investment firm, in the transaction. Jonathan Haag and Guyla Sineni of JLL represented the seller.
COTULLA, TEXAS — Marcus & Millichap has arranged the sale of Cowboy Inn Cotulla, a 60-room hotel locate at 145 FM 468 West in Cotulla, about 90 miles southwest of San Antonio. Andrew Frosch, Chris Gomes, Robert Arzola and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller. Leilani Tedeski of Marcus & Millichap procured the buyer. Both parties were limited liability companies.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 25,505-square-foot industrial lease at 5910 Techni Center Drive in Austin. Ryan Wilson and Matt Fain of ECR represented the undisclosed landlord in the lease negotiations. Davis Bass of HPI represented the tenant, Kasita Operations LLC, a producer of tiny, prefabricated homes.
GRAND PRAIRIE, TEXAS — Cintas Corp., a Cincinnati-based provider of uniforms and other customized products, has leased 22,622 square feet at Trinity 161 Trade Center, an office/warehouse property located at 3100 N. State Highway 161 in Grand Prairie. John Leinbaugh, Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations.
PLANO, TEXAS — Heady Investments will develop Legacy South Office Center, a seven-story, 210,000-square-foot office property in Plano. Designed by Jack O’Brien & Associates and financed by Stillwater National Bank, the property will be situated on 4.4 acres on the west side of the Dallas North Tollway near Tennyson Parkway. General contractor Ed Henry & Associates expects to break ground on the project during the fourth quarter, with occupancy slated for February 2019.
FORT WORTH, TEXAS — UMB Bank, a subsidiary of Kansas City-based UMB Financial Corp., has signed a 10-year office lease at 777 Main St. in Fort Worth. The lease includes 12,000 square feet of office space on the fifth floor and a 7,000-square-foot lobby. The company expects to move into the new space in 2018. Mike Gosslee and Jay Holland of Cushman & Wakefield represented UMB Bank in the lease negotiations.
