DALLAS — Ascension Coffee, a Texas-based coffee shop, café and wine bar, will open its third location in Dallas within Thanksgiving Tower, a 50-story tower located at 1601 Elm St. Amy MacLaren of CBRE represented the landlord, Woods Capital Management, in the lease negotiations. Jack Gosnell and Elizabeth Herman of CBRE represented the tenant.
DALLAS — Marcus & Millichap has brokered the sale of five multifamily communities in the Dallas-Fort Worth area for $45.6 million. The company’s Dallas-based Fluellen|Hoover Multifamily investment sales team, led by Nick Fluellen and Bard Hoover, arranged the transaction. The portfolio totals 705 units and includes West Wind, 160 units, Irving; La Jolla Terrace, 340 units, Fort Worth; Castle Glen, 48 units, Garland; Northridge Court, 85 units, Cleburne; and Social House, 72 units, Nacogdoches.
TULSA, OKLA. — KeyBank Real Estate Capital has provided a $9.1 million HUD loan to LEDIC Realty Co. for the rehabilitation of Quail Creek Villa, an affordable seniors housing community in Tulsa. The community is restricted to residents over 62 years of age and those with disabilities. All 120 units of the property are reserved for those making 60 percent or less of the area median income. Jeff Rodman of Key’s Commercial Mortgage Group and Kelly Frank of Key’s Community Development Lending and Investment (CDLI) group arranged the financing.
HOUSTON — Unilev Capital Corp. is underway on a $3 million renovation program for Three Riverway, a 395,637-square-foot office tower in Houston’s Uptown/Galleria submarket. Plans include improvements to the lobby, plaza and parking garage. Unilev expects to wrap up the renovations by the end of the summer. Steve Rocher, Kristen Rabel and Parker Duffie of CBRE’s Houston office handle the leasing assignment for Three Riverway, which is currently 80 percent leased. Existing amenities at Three Riverway include an executive conference center, fitness center and 24/7 security. Unilev’s corporate offices are located in the Riverway office complex.
HOUSTON — Baker Katz, a Houston-based partner of the X Team International commercial real estate services network, has purchased four acres of land along Beltway 8 in Houston. The company plans to break ground later this year on the site for two multi-tenant retail buildings totaling 20,000 square feet. Situated near Port Houston, the retail buildings are expected to accommodate restaurants that require drive-thru capabilities. Chris Pitts of Streetwise Retail Advisors represented Baker Katz in the land purchase.
HOUSTON — Lee & Associates has arranged an 8,460-square-foot industrial lease on behalf of the landlord, Liberty Property Trust, at Northgreen Business Park in Houston. The industrial park is located at 1428 N. Sam Houston Parkway East. Ryan Searle and Justin Tunnell of Lee & Associate’s Houston office represented Liberty Property Trust, and Northwinds Commercial Realty LLC represented the tenant, Threading & Sealing Technologies LLC.
HOUSTON — McCord Development has broken ground on Lockwood Business Park, a 25-acre industrial flex campus situated within Generation Park, a 4,000-acre, master-planned development in northeast Houston. The industrial project will comprise three buildings totaling approximately 163,000 square feet built on a speculative basis. Completion of Lockwood Business Park is scheduled for the first half of 2018, according to the Houston Business Journal.
SAN ANTONIO — Castle Lanterra Properties has purchased Agave, a 349-unit, Class A multifamily community located at 633 S. Saint Mary’s St. near downtown San Antonio. The property, which was built in 2016, features amenities such as a resort-style pool, outdoor kitchen and gaming area, fitness center and a yoga studio. A joint venture between Greystar and asset management firm The Carlyle Group sold the property to Castle Lanterra for an undisclosed price.
ALLEN, TEXAS — Private equity firm Vestar has secured $8.6 million in financing for Twin Creeks Marketplace, a 43,134-square-foot retail center located at 1265 W. Exchange Parkway in the Dallas-Fort Worth metro of Allen. The property, which was developed in 2016, was 100 percent leased at the time of loan closing to anchor Sprouts Farmers Market, as well as tenants such as Verizon Wireless, Starbucks Coffee and Advancial Credit Union. Vestar secured the 15-year loan through Lincoln National Life Insurance Co.
LAKE JACKSON, TEXAS — NAPA Ventures, an Austin-based investment firm, has acquired Treasure Bay Apartments and Oyster Creek Apartments, two multifamily properties totaling 401 units in Lake Jackson, a city roughly 60 miles south of Houston. Both properties are located off Nolan Ryan Expressway and were purchased in partnership with a Dallas-based private equity firm. NAPA plans to upgrade both properties’ landscaping, parking areas, leasing offices and business centers, as well as the interiors of the units.