HOUSTON — Hunington Properties Inc. has brokered the sale of Shops at Cinco Rancho West, a 26,721-square-foot retail center located on the SEC Cinco Ranch Boulevard at FM 1463 in Houston. Rafael Melara of Hunington represented the seller, a local investor and procured the buyer, a Massachusetts-based family trust. Both parties requested confidentiality.
HOUSTON — Hunt Mortgage Group has provided a $11.6 million Fannie Mae loan for the refinancing of Northland Woods Apartments, a 280-unit, garden-style multifamily community located at 15165 Vickery Drive in Houston. Built in 2005, the 21-building property features two pools, a business center, on-site laundry facilities and a fitness center.
DALLAS — De La Vega Development will develop OVERstreet at SEVENTYfive, a 1.4 million-square-foot mixed-use project situated at the corner of North Central Expressway and Haskell Avenue in Dallas. The four-building project will deliver 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower. The project will also include three parking garages totaling 2,770 spaces. De La Vega purchased the 10-acre tract on which the project will be developed, according to The Dallas Morning News.
DALLAS — Woodbine Legacy Investments, a division of Dallas-based hospitality investment firm Woodbine Development Corp., has acquired the Hilton Dallas Park Cities, a 224-room hotel located in the University Park neighborhood in Dallas. The 11-story hotel, which was built in 2001 and renovated between 2012 and 2013, features a heated rooftop pool, business center, fitness center and 10,529 square feet of meeting and event space. John Bourret and Austin Brooks of HFF represented the undisclosed seller in the transaction.
HOUSTON — Boyd Commercial has brokered the sale of a 30,114-square-foot office/warehouse property located at 9122 and 9000 Telephone Road in Houston. David Munson and David Boyd of Boyd Commercial represented the sellers, MPM Real Estate LLC and Kervinen Petteri, which sold 9122 Telephone Road and 9000 Telephone Road, respectively. Athena Sidhu of RE/Max Top Realty represented the buyer, Aslam Properties Inc.
DALLAS — Dougherty Mortgage LLC has closed the $14 million refinancing of El Sol Del Lago, a 318-unit multifamily community located at 3120 Oradell Lane in Dallas. Dougherty arranged the 12-year Fannie Mae loan, which has a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, El Sol Del Lago LLC.
ARLINGTON, TEXAS — Eastern Union Funding, a New York-based mortgage brokerage firm, has arranged a $1.5 million loan for the refinancing of the Quality Inn at Arlington Highlands, a 128-room hotel located near AT&T Stadium in Arlington. Peter Blass of Eastern Union arranged the loan through Southwest National Bank on behalf of the borrower, RMG Hospitality. A portion of the funds will be used for renovating the property.
HOUSTON — Stream Realty Partners and development partner AMD Global LLC will develop Memorial Medical Pavilion, a 101,744-square-foot, Class A medical office complex near the Texas Medical Center in Houston. In early June, joint venture between Stream, AMD and Diamond Realty Investments Inc., an affiliate of Mitsubishi Corp., purchased the two-acre site on which the complex will be developed. Construction is scheduled to begin in December with occupancy slated for the first quarter of 2019.
BURLESON, TEXAS — Abby Development has broken ground on Auberge of Burleson, a 250-unit, Class A multifamily community located near the intersection of State Highway 174 and FM 731 in the southern Fort Worth metro of Burleson. The property, which features a 24-hour fitness center, resident coffee bar and a dog park, will be part of the 95-acre Arabella of Burleson master-planned development.
LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has arranged the sale of South Plains Plaza Shopping Center, a 108,326-square-foot retail property located at 6703 Slide Road in Lubbock. The center is currently leased to tenants such as Michaels, Office Max, Mattress Firm and Wing Stop. Eric Eberhardt and Alex Eberhardt of Coldwell Banker represented the buyer in the transaction. Other terms of sale were not released.