PLANO, TEXAS — Houston-based Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) has arranged the $8.4 million cash-out refinancing for Republic Office Building located in Plano. Goldman Sachs provided the funding, which features a 10-year term and a 30-year amortization schedule. Travis Fite of Q10 KDH arranged the financing for the undisclosed borrower.
DALLAS — JLL has brokered the sale of the former John Roberts BMW retail property located at 2536 Forest Lane in Dallas. AutoNation Luxury Imports Ltd. sold the 96,557-square-foot property, including its 6.2-acre land parcel, for an undisclosed sum. Clay Smith, Mark Newman and Katie Carlisle of JLL represented the seller, while Mark Adame of Joe Adame & Associates Inc. represented the undisclosed buyer in the transaction.
HOUSTON — NorthMarq Capital has secured refinancing for Beechnut Tiendas, a retail center located in Houston. Warren Hitchcock of NorthMarq Capital arranged the financing through a life insurance company for the undisclosed borrower. Pollo Campero, Supermercado Teloloapan, T-Mobile and Shipley Do-Nuts occupy the 18,995-square-foot property.
SAN ANTONIO — Dougherty Mortgage has closed a $9.3 million Fannie Mae loan for the acquisition of Ridge at Southcross, a 212-unit multifamily property located in San Antonio. The borrower was 4700 Stringfellow LLC. The 12-year loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office. The loan features a 30-year amortization schedule and three years of interest-only payments.
HOUSTON — NAI Partners has arranged the sale of a crane-served manufacturing facility located at 8550 Telephone Road in Houston. Metal Works Properties sold the 57,360-square-foot property to Durco Ltd. for an undisclosed price. Chris Caudill of NAI Partners represented the seller, while Barrett Gibson and Jeff Peltier of Colliers International represented the buyer in the deal.
HOUSTON — NorthMarq Capital has arranged refinancing for Northville Plaza, a retail property located in Houston. Mattress One, Tile Max and Allstate occupy the 14,400-square-foot property. Warren Hitchcock of NorthMarq Capital’s Houston office arranged the non-recourse, 15-year fixed-rate loan on behalf of the undisclosed borrower.
LITTLE ELM, TEXAS — Marcus & Millichap has arranged the sale of Lake Shore Crossing, a retail property located in Little Elm. A developer sold the 16,500-square-foot property to a private investor for an undisclosed sum. At the time of sale, the property was fully occupied to a variety of tenants on triple-net leases. Bill Jordan of Marcus & Millichap represented the seller and secured the buyer in the deal.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has facilitated four office and retail leases in Austin. In the first transaction, Herbert J. Sims & Co. leased 966 square feet of office space at 815 Brazos. Patrick Ley and Rebecca Zigterman of ECR represented the undisclosed landlord, while Jon Wheless of Aquila Commercial represented the tenant. In the second deal, Timeless Interiors Inc. leased 9,683 of office square feet at 1110 S RR 620. Ley and Haley Smith of ECR represented the undisclosed landlord. In the third transaction, Berserk Games leased 775 square feet of retail space at 800 Brazos from an undisclosed landlord. Jason Steinberg and Matt Levin of ECR represented the landlord, while Steve Gillespie of Texas Office Advisors represented the tenant. In the final deal, Buildfax leased 3,414 square feet of office space at the Heierman Building, located at 115 E. 5th St. Steinberg and Haley Berry Smith of ECR represented the undisclosed landlord, while Gaines Bagby of CBRE represented the tenant.
DALLAS — HFF has secured the $120 million refinancing for Cityplace Tower, a 1.35 million-square-foot office tower in Uptown Dallas. The borrowers were Parmenter and Angelo, Gordon & Co. Starwood Property Trust provided the loan, which is interest-only for the full term. Proceeds of the loan were used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures. Situated along North Haskell Avenue, the 42-story Cityplace Tower was built in 1988 and underwent a $15 million renovation and rebranding last year. The property features eight levels of subterranean parking, 51,434 square feet of conference facilities, a 300-seat amphitheater, a 34,000-square-foot spa and fitness center, six patio sunrooms, a carwash, concierge service, convenience store and cafeteria. Ed Coco, John Brownlee, Jim Curtain and Matt Casey of HFF arranged the loan.
HOUSTON AND DALLAS — LMI Capital has closed five financing transactions for six assets in the Houston and Dallas exceeding $36 million. In the first transaction, Jamie Mullin of LMI Capital procured a $15 million, floating-rate loan for a 435-unit multifamily asset in southwest Houston. The terms include a two-year interest-only period, open prepayment structure and significant rehab component, which will be used to improve the buildings’ exteriors and complete select upgrades for the units’ interiors. The name of the borrower and the property were not released. In the second deal, Kurt Dennis of LMI Capital originated a 25-year bank loan on an 11,000-square-foot office building in northwest Dallas. The first mortgage equated to 73 percent of the purchase price and included a step-down prepayment structure and low closing costs. The name of the borrower and the amount of the loan were not disclosed. Mullin also arranged financing for four assets in southwest Houston. The transactions included: – A 10-year, $4 million agency loan for a 120-unit multifamily asset. Terms of the loan included a fixed 4.1 percent interest rate, two years of interest-only payments and cash out proceeds to make ongoing improvements to the property and fund future acquisitions. – …
