RICHARDSON, TEXAS — Marcus & Millichap has negotiated the sale of Lakefront Villas, a 105-unit apartment property located in Richardson. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Silva and Braly also secured the buyer, a local partnership. The Dallas-based buyer utilized a 1031 tax-deferred exchange. Lakefront Villas is located at 900 W. Spring Valley Road.
DALLAS — An unnamed major health system has leased 35,842 square feet in the street-level retail portion of the Colonial Reserve at Medical District multifamily complex. The property is located at 2222 Medical District Drive in Dallas. JLL’s Rob Franks and Cole Burdette represented the tenant. Younger Partners’ Heather Shover and Trae Anderson represented the landlord, Greenway Investment Co.
DALLAS — Presidium Group LLC plans to expand and relocate its Uptown Dallas headquarters to Citymark on the Katy Trail. Bradford Commercial Real Estate Services arranged the lease. Presidium is moving Aug. 1 into a 7,912-square-foot space at 3100 McKinnon St., nearly doubling its size. The office tower’s second floor has been reconfigured into a multi-tenant space to accommodate the move. The transaction required subleasing Presidium’s existing headquarters at 2525 McKinnon St., which is being backfilled by telecommunications firm Zinwave Ltd. Ryan Hoopes of Colliers International was Zinwave’s broker for its sublease. Citymark spans 218,926 square feet and is 93 percent occupied.
DALLAS — Clarion Partners has acquired One Victory Park, a 17-story, 436,253-square-foot office building located in the Uptown submarket of Dallas. Clarion purchased the asset on behalf of a commingled fund that the firm advises. One Victory Park is 95.2 percent leased to tenants in the finance, legal, real estate and professional service industries. The building, constructed in 2008, has been awarded LEED Silver status and is Energy Star-certified. Amenities include a fitness center, conference center, 24/7 security and a six-story structured parking garage. One Victory Park is located two blocks from the Victory light rail station, which services DART light rail and Trinity Railway Express.
DALLAS — Claudia Crow has been named director of marketing and brand strategy for TCN Worldwide’s international real estate services organization. Crow brings nearly two decades of commercial real estate and marketing experience to her position, including 14 years with TCN Worldwide in the roles of marketing and public relations from 2000 through 2014. She was most recently the managing director of commercial services for a real estate brokerage firm in Dallas. Crow has an MBA from the University of North Texas.
HOUSTON — Jamie Mullin of LMI Capital has placed permanent financing for the acquisition and refinancing of two garden-style apartment complexes in Houston. Mullin placed a 10-year loan exceeding $24.5 million for a 650-unit asset in southwest Houston. The agency loan was a refinance that provided cash-out proceeds to the borrower and featured a fixed 4.1 percent interest rate and five years of interest-only payments. The borrower will use the excess proceeds to return capital, make ongoing improvements to the property and fund future acquisitions. The second transaction for Mullin pertained to a 250-unit property in Houston’s Brookhollow submarket. The acquisition financing included a 10-year term, five-year interest-only period, fixed 3.9 percent interest rate and leverage exceeding 73 percent of the purchase price. The borrower plans to complete a capital improvement plan, the funds for which will be provided by the lender.
HOUSTON — Allied Orion Group has been selected to manage Tree Tops at Post Oak, a 112-unit apartment community located in Houston’s Galleria area. Located inside the 610 Loop at 4510 Briar Hollow Place, the three-story apartment community includes 13 floor plans with one- and two-bedroom options. Owned by Nimes Capital, Tree Tops at Post Oak Apartments features ceramic tile floors, ceiling fans, nine- and 10-foot ceilings, crown molding, walk-in closets and balconies/patios. Residents have access to amenities including a business center with high-speed internet, 24-hour fitness center, pool, outdoor gas grills, covered parking and laundry centers on every floor.
DALLAS — Salman Tabani of Tabani Realty has arranged the sale of the Best Western Plus Hotel and Conference Center in Dallas. The newly renovated, 160-room hotel is located at the intersection of Highway 635 and Highway 75. The property was sold to an out-of-state private investor. Tabani Realty is a commercial brokerage firm based in Addison, Texas that specializes in hospitality, retail, land, multifamily, office and investment property sales.
HOUSTON — On behalf of Griffin Partners, JLL has secured the sale of Nassau Bay Town Square, a 100 percent occupied, 50,253-square-foot retail development in Houston. An undisclosed buyer purchased the Class A asset for an undisclosed price. JLL also secured $12.9 million in acquisition financing, with Wells Fargo providing the securitized loan. George Cushing and Wendy Vandeventer led the JLL team on the sale. Jimmy Board and Paul House led the firm’s financing efforts. Located directly across from NASA’s Johnson Space Center, Nassau Bay Town Square is part of a 660,000-square-foot mixed-use development that includes office, multifamily and hotel assets. Tenants of Nassau Bay Town Center include Jimmy Johns, Five Guys, Berkeley Eye Center and Texas Citizens Bank.
HOUSTON — NAI Partners has brokered the purchase of a 15,000-square-foot warehouse facility on two acres within Hardy Industrial Center located at 21430 Spring Bridge Drive in Houston. Michael Keegan of NAI Partners represented the buyer, Spring Bridge Properties LP, during the negotiations. Richard Quarles and Mark Nicholas of JLL represented the seller, Vigavi Realty LP.