Texas

Greysteel Secures Acquisition Financing for Green House Apartments in Arlington

by Haisten Willis July 13, 2016

ARLINGTON, TEXAS — Greysteel has secured agency financing for the acquisition of the Green House Apartments, a multifamily property located in Arlington, on behalf of 2405 E. Park Row Drive LLC. The 10-year, non-recourse Fannie Mae loan was provided by an undisclosed agency lender. The loan features a fixed interest rate of 4.5 percent and an 83 percent loan-to-cost ratio. Greysteel’s Anton Mattli and John Marshall Doss negotiated the transaction. The Green House Apartments was built in 1966 and totals 40 units.

July 13, 2016

Lee & Associates Negotiates 74,252 SF Industrial Sale in Metro Dallas

by Haisten Willis July 13, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 74,252-square-foot industrial building located at 1421 Patton Place in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, 1700 Broadway Associates. Ryan Boozer with Stream Realty Partners represented the buyer, Maxcom Properties.

July 13, 2016

Loans Multifamily Texas

LMI Capital Closes Two Loans Totaling $31M in Metro Houston

by Haisten Willis July 13, 2016

HOUSTON — Brandon Brown of LMI Capital has placed permanent agency financing for the acquisitions of two garden-style apartment complexes for the same borrower. The first transaction to close was a 10-year loan featuring two years of interest-only payments and a fixed interest rate of 4.2 percent. Proceeds totaled 75 percent of the purchase price for the 275-unit asset in the Baytown submarket. The second loan was a 10-year loan at 75 percent of the purchase price, with a three-year interest-only period and a fixed interest rate of 4.2 percent. The 270-unit complex is located in the Rosenberg suburb southwest of Houston. The buyer purchased the assets from the same seller via separate transactions.

July 13, 2016

Hospitality Loans Texas

PCCP Provides $73.1M Construction Loan for InterContinental Houston

by Haisten Willis July 12, 2016

HOUSTON — PCCP LLC has provided a $73.1 million senior construction loan to Houston-based Medistar Corp. for the development of the 21-story InterContinental Houston Medical Center in Houston. The hotel will include 353 rooms and a six-story parking garage, along with 11,800 square feet of meeting space and a 7,800-square-foot ballroom. Medistar has retained Houston-based TRC Capital Partners, a hotel development firm, to co-develop the project. Construction has begun and is scheduled for completion in late 2018. InterContinental Hotel Group (IHG) will provide management services as the full-service operator at the property. The hotel will be developed on a 60,000-square-foot site bordered by Main Street and Old Main Street and adjacent to the Texas Medical Center of Houston. The hotel’s ground floor will contain the lobby, reception area, restaurant, bar and lounge, with the parking garage directly above the ground-floor amenities. The remaining 13 floors will contain a fitness center, outdoor pool, guestrooms and suites.

July 12, 2016

Industrial Office Texas

Triathlon Battery Solutions Moves U.S. Headquarters to Metro Dallas

by Haisten Willis July 12, 2016

COPPELL, TEXAS — Addison-based Biel Partners has brokered a 19,000-square-foot office/warehouse lease for Triathlon Battery Solutions Inc. The company is a United States incorporated entity with investment backing from its German parent, Triathlon Batterien GmbH. The new location will be Triathlon’s headquarters within the United States. Triathlon supplies clients with lead-acid and lithium-ion batteries powering equipment such as electric forklifts and pallet jacks, electric industrial trucks and mobile lifting platforms. Triathlon occupied its new space at 631 Southwestern Blvd., Suite 140 in Coppell earlier this month and will hold a grand opening ceremony in October. Jeremy Kelly of Stream Realty Partners represented the landlord, ML Realty, in the lease deal.

July 12, 2016

Healthcare Texas

McCarthy to Build New Facility for Texas Children’s Hospital in Houston

by Haisten Willis July 12, 2016

HOUSTON — McCarthy Building Cos. has begun construction on a facility for Texas Children’s Hospital that will house the hospital’s pediatric and residents’ primary care group clinic. The project includes the demolition of existing interior space and construction of a 20,000-square-foot facility. When completed in November, the building will include a waiting area, exam rooms, nurses’ stations, administrative offices, staff lounge, storage, radiology and ultrasound space and a work room. Preston Hodges and Mike Kacal lead McCarthy’s specialized solutions group, which focuses on healthcare, laboratory and higher education interior renovation projects.

July 12, 2016

Industrial Texas

TDC Acquires 1.4M SF DHL Supply Chain Property in Fort Worth

by Haisten Willis July 12, 2016

FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 1.4 million-square-foot distribution building in Fort Worth developed and occupied by logistics solutions provider DHL Supply Chain. Completed in June, the property is located at 5600 Mark IV Parkway, near the intersection of I-35 and I-820. John Huguenard and Sean Devaney of JLL represented DHL Supply Chain in the transaction. 5600 Mark IV Parkway was built with 36-foot clear heights, 154 dock doors, parking for 200 cars and 350 trailers and an ESFR fire suppression system. The building’s infrastructure was reinforced to withstand 120-mile-per-hour winds. DHL is preparing to break ground on a speculative basis on an adjacent building, totaling 712,500 square feet, with similar specifications. That building is scheduled for completion next spring.

July 12, 2016

Office Texas

Aprima Medical Software Relocates Headquarters to Richardson

by Haisten Willis July 12, 2016

RICHARDSON, TEXAS — Aprima Medical Software Inc., a provider of electronic health records, practice management and revenue cycle management solutions for medical practices, has signed a lease for its 55,000-square-foot corporate headquarters at 1010 E. Arapaho Road in Richardson. The facility will house 250 Aprima employees, who will be relocating from other north Texas facilities, including the company’s current headquarters in Carrollton. Aprima expects to occupy the new facility beginning in August. The new headquarters will house Aprima’s corporate administrative functions, product development, customer support, training and project management and revenue cycle management operations. John Roper of CBRE represented the tenant in lease negotiations. Momentum Commercial Realty’s Roy Greenberg and Bryan Lurie handled negotiations on behalf of the property owner. Dallas-based Momentum Commercial Realty recently acquired the three-story office building known as 1010 Arapaho, in which Aprima’s new headquarters will be based.

July 12, 2016

Multifamily Texas

SVN Arranges Sale of Apartment Community in Irving

by Haisten Willis July 11, 2016

IRVING, TEXAS — SVN has arranged the sale of the Treehouse Apartments in Irving, a 160-unit garden-style community located at 3203 W. Walnut Hill Lane in Irving. Jon Krebbs of SVN brokered the sale. The unnamed new owner plans to upgrade the property to compete with other complexes in the immediate area.

July 11, 2016

Industrial Texas

Gault Co. Sells Industrial Building in Metro Dallas

by Haisten Willis July 11, 2016

LAS COLINAS, TEXAS — Real estate developer and investor Roger Gault of Gault Co. has sold a single-tenant industrial building located at 1939 Hereford Drive in Las Colinas to an undisclosed buyer. The 25,000-square-foot building sits on 1.5 acres in the Las Colinas Walnut Hill Distribution Center. Ryan Boozer with Stream Realty was the broker for the sale. The building was purchased in 2007 and was occupied until recently by Quantum Clean. When Quantum moved out, the building was put up for lease or sale.

July 11, 2016

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