DALLAS — Greysteel has arranged the sale of Midpark Towers, a 202-unit multifamily property located in Dallas. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson arranged the transaction. Midpark Towers, built in 1978, is a mid-rise property comprising a 10-story tower and an 11-story tower. The property is located at 8550 Midpark Road.
DALLAS — LegacyTexas bank has leased 20,343 square feet of office space in Sterling Plaza, a Class A office tower located at 5949 Sherry Lane in Dallas. The deal will relocate the bank’s Preston Center corporate banking office. As part of the deal, LegacyTexas will occupy an entire floor inside the 19-story office building, located between the Dallas North Tollway and U.S. Highway 75. Cushman & Wakefield’s Bill McClung and Robbie Baty represented LegacyTexas in the lease transaction. Seth Thatcher, Dennis Barnes, Celeste Fowden and Alexandra Jennings of CBRE represented the landlord, KBS.
FORT WORTH, TEXAS — CBRE has brokered the sale of an 11.8-acre site with multiple buildings at 7100 Oakmont Blvd. in Fort Worth. The asset includes a 113,000-square-foot former hospital building and a 12,000-square-foot former power plant. Fort Worth-based TCRG Properties LLC purchased the site for an undisclosed price with a plan to redevelop the assets for lease. The property, formerly occupied by Baylor All Saints Medical Center, is located in southwest Fort Worth. Inwood Bank provided acquisition financing. Bob Scully and Nanci Johnson-Plump with CBRE’s Fort Worth office represented the seller, Rainier Realty Investments. Ryan Wood with TCRG represented the buyer internally.
DALLAS — Woods Capital has assumed property management duties for Thanksgiving Tower, a 50-story office building located in the Main Street district of downtown Dallas. Dallas-based Woods Capital, in partnership with Third Point Opportunities Master Fund, acquired Thanksgiving Tower in 2013 and has undertaken renovations on the property over the last two years.
GRAPEVINE, TEXAS — Fieldhouse USA will open its second U.S. location at Grapevine Mills in Grapevine in early 2017. The indoor sports facility will bring youth and adult sport leagues and tournaments to the area. FieldhouseUSA is a league, event and tournament-based indoor sports facility projected to draw more than 1.6 million visitors annually to the new location. The 106,000-square-foot facility will feature nine basketball courts and nine volleyball courts offering league play in basketball, volleyball and indoor soccer. FieldhouseUSA also offers programs for performance training, all-sports camps, baseball/softball, birthday parties, boot camps, cheerleading, club volleyball, corporate events, dodge ball, lock-ins, skills training, taekwondo and tumble.
NORTH RICHLAND HILLS, TEXAS — HSM Crossing LLC, an affiliate of Henry S. Miller Cos., has purchased The Crossing, a Kohl’s-anchored shopping center located at the northwest corner of Grapevine Highway and Precinct Line in North Richland Hills. The 188,000-square-foot retail center sits on 20 acres and was 89 percent leased at the time of sale to tenants including McAlister’s Deli, Unleashed by Petco, Red Hot & Blue and First Choice ER. HSM secured a five-year, non-recourse loan with L Star Capital Finance Inc. to fund the acquisition. Darrell Hurmis of Henry S. Miller represented HSM on the purchase.
HOUSTON — Keith Van Arsdale of BMC Capital’s Dallas office arranged an $8 million cash-out refinance loan for a 280-unit apartment complex in Houston. The 10-year, non-recourse loan features a 4.3 percent fixed interest rate and a 30-year amortization schedule. The loan allowed the client to cash out over $3 million after capital improvements were completed during the course of 16 months. The loan was arranged through one of BMC Capital’s banking relationships.
HOUSTON — JLL has completed the sale of Texas Self Storage located at 8909 Hinman St. in Houston. Westport Properties Inc. purchased the property. Steve Mellon and Brian Somoza of JLL represented the seller, Airport Boulevard Partners LP, in the transaction. Comprising four single-story and two two-story buildings, the facility spans 44,600 square feet. The property consists of 30 climate-controlled units, 453 non-climate controlled units and 35 covered parking units. Facility features include a secured gate with electronic access control, surveillance cameras and a customer service office. The property was built in 1975 and renovated in 2008.
HOUSTON, ROSENBERG, HUMBLE and CONROE, TEXAS — Brandon Brown and Jamie Safier of LMI Capital have secured financing for the acquisition and/or refinancing of four separate garden-style apartment complexes in the metro Houston area. Brown placed a 10-year, $4.9 million loan for a 105-unit asset in Rosenberg. The Fannie Mae loan was a cash-out refinance that closed in under 45 days and featured a fixed 4.3 percent interest rate with five years of interest-only payments. The second transaction for Brown was for a 100-unit property in Humble. The Fannie Mae acquisition loan included a 10-year term and three years of interest-only payment. Safier arranged the refinancing of an 80-unit property located in northwest Houston. The loan features a fixed 4.4 percent interest rate and two years of interest-only payments. Safier also secured acquisition financing for a 100-unit asset in Conroe. The loan featured 75 percent leverage, a 4.4 percent interest rate for the first seven years of the 20-year loan term and a step down prepayment structure.
LITTLE ELM, TEXAS — Venture Commercial Real Estate has represented Round Rock-based Flix Brewhouse in connection with the opening of the company’s first north Texas location at Main Marketplace in Little Elm. The Flix Brewhouse concept combines movies, craft beer and high-quality food served in-theater. Flix Brewhouse operates locations in Round Rock, Des Moines, Iowa and Carmel, Ind., with another under construction in Albuquerque, N.M. The 35,000-square-foot location in Little Elm is expected to open in early summer 2017 on the northwest corner of FM 423 and Main Street. Venture’s Chris Corbin and Bob Moore represented Flix Brewhouse, while David Levinson of The Retail Connection represented the landlord.
