FORT WORTH, TEXAS — Adolfson & Peterson Construction has completed Cowtown Place Garage, a 312,500-square-foot, nine-story parking deck with 26,000 square feet of retail space on the ground level. Located next to Sundance Square in downtown Fort Worth, the structure houses 850 parking spaces. Woodbranch Investments served as general contractor on the project.
TOMBALL, TEXAS — Love Funding has arranged a $2.6 million FHA loan to cover the bridge financing for the acquisition of Forever Young Senior Living, an assisted living and memory care facility in Tomball, a northwestern suburb of Houston. Located at 609 S. Pine St., the facility offers a choice of 16 private suites, personal laundry services, private party room and professional hair salon. The loan features a 35-year term with non-recourse financing.
KATY, TEXAS — Marcus & Millichap has closed the sale of Longhorn Self Storage, a 334-unit self-storage facility located at 22223 Kingsland Blvd. in the Houston submarket of Katy. Dave Knobler of Marcus & Millichap represented the seller, an undisclosed limited liability company, and procured the buyer, a Houston-based limited liability company.
DALLAS — Younger Partners has secured a 4,866-square-foot lease at Republic Center, a 1.3 million-square-foot, mixed-used property located at 325 N. Saint Paul St. in downtown Dallas. Younger arranged the lease on behalf of Pavo Communications, a Mansfield, Texas-based firm. Kathy Permenter, Trae Anderson and Sarah Savage of Younger Partners represented the landlord in the transaction. The representative of the tenant was not disclosed.
FARMERS BRANCH, TEXAS — Centurion American Development Co. and the City of Farmers Branch have broken ground on Mercer Crossing, a $1 billion mixed-use development in Farmers Branch, a northern suburb of Dallas. Situated on 370 acres at the corner of Luna Road and Whittington Lane, the property will include more than 2,250 apartments, a 48-acre office park, hotel, amphitheater and retail space.
DALLAS — RED Development has secured a 68,000-square-foot lease for international law firm Akin Gump at The Union Dallas, an 800,000-square-foot mixed-use development located at the intersection of Field and Cedar Streets in downtown Dallas. The project consists of a 22-story office tower, in which the firm has leased three floors, as well as a 23-story, 309-unit apartment building and a 60,000-square-foot Tom Thumb grocery store. The property, which is scheduled for a 2018 delivery, is now 60 percent leased.
FORT WORTH, TEXAS — HFF has arranged an undisclosed amount of acquisition financing for The Venue at Hometown, a 209-unit, Class A multifamily property located at 9012 Courtenay St in Fort Worth. Cortney Cole and Steve Heldenfels of HFF arranged the seven-year loan, which features a 4.06 percent fixed interest rate, on behalf of Venterra Realty, a Houston-based management firm. At the time of the loan closing, the property, which includes a pool, fitness center and business center, was 94 percent leased.
HOUSTON — Targa Resources Group, a publicly traded midstream energy company, has leased 127,724 square feet of office space at 811 Louisiana St. The Class A, 577,735-square-foot office tower is located in Houston’s Central Business District. Tim Relyea, Chad Beck, David Guion and Morgan Relyea of Cushman & Wakefield represented the unspecified landlord in the transaction. Chip Colvill, Paula Bruns and Damon Thames of Colvill Office Properties represented Targa Resources Group.
SPRING, TEXAS — NorthMarq Capital has arranged the refinancing of Alexan Auburn Lakes, a 346-unit multifamily property located at 6000 W. Rayford Road in Spring, about 25 miles north of Houston. Kerry French of NorthMarq structured the transaction with a seven-year term featuring two years of interest-only payments and a 30-year amortization schedule. Freddie Mac provided the funds.
LEWISVILLE, TEXAS — NXT Capital, a Chicago-based lender, has provided a $26 million first mortgage loan to refinance a 242-unit apartment community in Lewisville. The Class A property, which is part of Hebron 121 Station, is located roughly 23 miles from downtown Dallas and offers a resort-style pool with poolside bar, private cabanas, running/biking trails, fitness center and a business center. Roger Wyche of Metropolitan Capital Advisors placed the loan with NXT Capital.
