UNIVERSAL CITY, TEXAS — Lowe Enterprises Investors, in a joint venture with an investment client, has acquired Sunrise Canyon, an apartment complex located at 501 Sunrise Canyon Drive in Universal City, for an undisclosed price. Built in 2005, the property offers 208 apartments in one-, two- and three-bedroom layouts. On-site amenities include a clubhouse, resort-style pool, fitness center, business center, outdoor kitchen with grilling area and a dog park. United Apartment Group has been retained to manage the property. CBRE represented the seller, KKR, in the deal. Berkadia provided financing services for the acquisition.
GAINESVILLE, TEXAS — Pierson Retail Advisors has arranged the sale Gainesville Factory Stores, an outlet mall located in Gainesville. A private investor sold the 315,725-square-foot property to a local buyer for an undisclosed price. Pierson Retail Advisors represented the seller in the deal.
HOUSTON — Atlantic|Pacific Cos., with its co-sponsor fund Blue Atlantic Partners, has acquired Vintage Park Apartments in Houston for an undisclosed price. The property features 324 units in a mix of one- and two-bedroom floor plans, a swimming pool with splash pad, fire pit, picnic areas with barbecue pits, a business center, 18-seat media room, fitness center, children’s playground, covered parking and an outdoor seating area with a fireplace. Atlantic|Pacific Management will handle property management responsibilities for the property. The name of the seller was not released.
AUSTIN, TEXAS — InLight Capital has acquired Hampton Inn & Suites Austin Airport Hotel, located at 7712 E. Riverside Drive in Austin. Pendo Investments sold the 102-room hotel for an undisclosed sum. Completed in 2001 and renovated in 2015, the hotel features 18 suites, an outdoor pool, 440 square feet of meeting space, a fitness center, business center and complimentary hot breakfast. Dan Peek, John Bourret and Austin Brooks of HFF represented the seller in the transaction.
RICHMOND, TEXAS — Marcus & Millichap has arranged the sale of Westheimer Lakes II, a retail shopping center located at 26440 FM 1093 Road in Richmond. At the time of sale, the 52,567-square-foot property was 94 percent leased to a variety of tenants, including Yes Kids, Pizza Hut, Handlebar Cyclery, Aquatic Rehab, State Farm and Bright Orthodontics. Watt Harrison, James Bell, Gus Lagos and Evan Altemus of Marcus & Millichap represented the seller, a Texas-based limited liability company, and procured the undisclosed buyer. Additionally, Jeffery Duke, also of Marcus & Millichap, arranged a $7.5 million non-recourse, CMBS loan for the acquisition of the property. The final loan features a five-year term, fixed interest rate and a 30-year amortization schedule.
FARMERS BRANCH, TEXAS — Stream Realty Partners has brokered the lease of industrial space located at Mercer Business Park – Building 4 in Farmers Branch. Moore Supply Co., a distributor of plumbing products, has leased 105,800 square feet of space from Billingsley Development Corp. Eric Crutchfield and Ryan Boozer of Stream Realty Capital represented the tenant in the transaction.
DEL VALLE, TEXAS — Equitable Commercial Realty (ECR) has facilitated the sale of an industrial property located at 3039 E. Highway 71 in Del Valle, a suburb of Austin. The 28,840-square-foot property sold for an undisclosed price. Ryan Wilson of ECR represented the undisclosed buyer, while Clinton Sayers of Sayers Real Estate Advisors represented the undisclosed seller in the deal.
OKLAHOMA CITY — CBRE has arranged the lease of industrial space located at 11301 Partnership Drive in Oklahoma City. Omni Packaging Group, a distributor of shipping and packaging materials, is leasing 37,620 square feet of space from TOKC Northgate LLC. Jamie Hill, Barbara Mefford, John Lenochan, Jason Hammock and Caitlin Mazaheri of CBRE represented the tenant in the transaction.
HOUSTON — NAI Partners arranged the lease of retail space at 2859 Dulles Ave. in Missouri City, a suburb of Houston. Escape Games Fort Bend LLC leased the 1,750-square-foot entertainment venue space from SGRE Pecan Plaza Ltd. Jason Gaines of NAI Partners represented the landlord in the deal.
WACO, TEXAS — Eisner Equities has broken ground on OPUS 2430, a 151-bed boutique student housing community located near Baylor University in Waco. The development is expected to open for occupancy in fall 2017. The 68,000-square-foot property will offer townhome-style units featuring granite countertops, washers and dryers and en-suite bathrooms, with an additional powder room on the ground floor of each unit for guests. Community amenities will include a clubhouse, fitness center, outdoor living and exercise areas and a resort-style pool and tanning deck. Project team members include Bennett, Benner Partners Architects and Waco-based engineering firm Walker Partners. Campus Realtors will serve as the on-site management and leasing firm. Ciera Bank of Fort Worth provided construction financing on behalf of Eisner Equities.