SEABROOK, TEXAS — Lloyd Jones Capital, a Miami-based investment firm, has acquired Regatta Bay Apartments, a 240-unit multifamily complex located at 2555 Repsdorph Drive in Seabrook, a city about 35 miles southeast of Houston. Built in 2003, the three-story property features a mix of one-, two- and three-bedroom units, as well as a resort-style pool, fitness center and business center. FRBH Regatta Bay LLC sold the asset for an undisclosed price.
SAN ANTONIO — San Antonio Commercial Advisors (SACA) has brokered the sale of Oak Grove Square Shopping Center, an 8,890-square-foot shopping center located at 3203 Nacogdoches Road in San Antonio. The property was 75 percent leased at the time of sale to tenants such as Lefty’s Barbers, Primo Tax and Mobilex USA. Bradley Suttle of SACA represented the buyer, a California-based investor, in the transaction. Other terms of sale were not released.
HOUSTON — Mission Capital Advisors has arranged a $15.2 million acquisition loan for Staybridge Suites Houston — Medical Center, a newly constructed, 120-room hotel located at 9000 S. Main St. in Houston. Philip Justiss, Alex Draganiuk and Lexington Henn of Mission Capital arranged the recourse loan through IberiaBank Corp. on behalf of the borrower, St. Louis-based Midas Hospitality.
SAN MARCOS, TEXAS — Dougherty Mortgage has closed a $14.8 million Fannie Mae loan for the acquisition of Park Hill Apartment Homes, a 168-unit multifamily community in San Marcos. The 12-year loan, which features a 30-year amortization schedule and three years of interest-only payments, was arranged through Old Capital Lending on behalf of the borrower, a partnership between Park Hill SM LLC and Prudential Investment Properties LLC.
SAN ANTONIO — Houston-based DC Partners will develop The Thompson Riverwalk Hotel & Condos, a 167-room hotel in San Antonio that will feature 66 residential units in floors 12 through 19 known as The Arts Residences. San Antonio-based Universal Service Group will co-develop the 20-story property, which has an estimated cost of $116 million, according to local publication The Rivard Report. Amenities will include a rooftop bar and lounge and more than 6,900 square feet of meeting space.
ROCKWALL, TEXAS — Lollicup USA Inc., a Chino, Calif.-based producer and distributor of beverage and paper products, will develop a $50 million, 700,000-square-foot manufacturing facility in Rockwall, about 25 miles east of Dallas. The project is expected to create approximately 200 new positions. Construction is scheduled to begin by November, with completion slated for October 2018.
HOUSTON — Burton Construction has begun work on Lockwood Business Park, a 25-acre industrial park located at 13300 Lockwood Drive in Houston. The property will be part of the 4,000-acre Generation Park, which is owned by McCord Development. Energy equipment producer GHX Industrial LLC signed a 143,500-square-foot lease in June to become the park’s anchor tenant.
DALLAS — Westdale Real Estate Investment and Management has received $14.6 million in debt financing for the redevelopment of Mid Elm Lofts, a 29-unit boutique apartment complex located at 1512-1516 Elm St. in Dallas. Justin Laub of Metropolitan Capital Advisors Ltd. arranged the construction financing through an undisclosed, Texas-based bank.
LEWISVILLE, TEXAS — Stream Realty Partners has negotiated a 78,847-square-foot industrial lease at 301 Leora Lane in Lewisville. Blake Kendrick and Eric Crutchfield of Stream represented the landlord, EastGroup Properties. ESRP represented the tenant, Infinite Electronics Inc., an Irvine, Calif.-based supplier of engineering-grade wired and wireless connectivity products.
HOUSTON — The RADCO Cos. has acquired City Gate at Champions, a 278-unit, Class B apartment community situated on 10.6 acres at 12811 Greenwood Forest Drive in Houston. Built in 1978, the property consists of 27 two-story buildings with units averaging 874 square feet each. Amenities include a pool, picnic and grilling area and community clubhouse. The seller and other terms of sale were not disclosed. Atlanta-based RADCO plans to spend approximately $14,500 per unit on capital improvements. BBVA Compass provided debt and capital for the acquisition.
