BEDFORD, TEXAS — NXT Capital has provided a $17.6 million first mortgage loan to finance the acquisition of a 272-unit, Class B apartment community in Bedford. Located 10 miles northeast of the Dallas/Fort Worth International Airport, amenities at the property include two swimming pools and picnic areas. Michael Cosby in the Dallas office of HFF arranged the loan through NXT Capital.
FORT WORTH, TEXAS — May Group International has renewed a 138,000-square-foot lease at Carter Industrial Park in Fort Worth. The advertising agency has leased two office/warehouses spanning 60,000 square feet and 78,000 square feet at 1200 Forum Way S. since 2013, when it inked a sale-leaseback with Hangover Opportunity Fund LLC. May Sound Crazy is the landlord of record. The 11.5-acre tract is situated off Everman Parkway near I-35 West. The May Group maintains a 10,000-square-foot headquarters in the smaller building. The sister structure is divvied into 500 square feet of office and 77,500 square feet of warehouse space. The complex is also used for design, shipping and warehousing functions. Theron Bryant of Coldwell Banker Commercial Alliance DFW handled negotiations for the lease transaction.
AUSTIN, TEXAS — Yates Construction will serve as general contractor for interior finishes of a multi-level lobby remodel at the One American Center building on 6th and Congress avenues. The property is located in downtown Austin near the Texas State Capitol. Pre-construction will begin immediately on the 25,000-square-foot, $4.5 million project, with construction slated to begin early this summer. Substantial project completion is expected in January 2017.
DALLAS — Lee & Associates has completed a lease transaction for a 10,500-square-foot industrial space located at 1606 S. Barry Ave. in Dallas. Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the tenant, The Dallas Firefighter’s Museum Inc. Josh Barnes of Holt Lunsford Commercial represented the landlord, City Warehouse LP.
HOUSTON — Bellomy & Co. has arranged the sale of Eldridge FM 1960 Storage in Houston. The Class A facility was built in 2008, sits on nearly seven acres and consists of 587 units spanning more than 77,000 square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. listed the facility on behalf of the Houston-based seller. The team also procured the buyer, Extra Space Storage, a publicly traded REIT headquartered in Salt Lake City.
TEXAS CITY, TEXAS — Hunt Mortgage Group has provided an $11 million Fannie Mae loan to refinance Lakeview Apartments, a multifamily community in Texas City. The property is located in northwest Galveston County, 33 miles southeast of Houston’s Central Business District. Charles Nickson acquired the property in 1993. Lakeview Apartments is a 304-unit, garden-style multifamily facility comprising 22 two-story residential buildings and a one-story leasing office/clubhouse. The 10-year loan includes five years of interest-only payments, a 30-year amortization schedule and a 9.5-year yield maintenance period. Lakeview Apartments also offers parking via 82 metal carports and features an outdoor swimming pool, exercise/fitness room and three laundry facilities. All apartments have individual washer and dryer connections.
THE WOODLANDS, TEXAS — Warren Hitchcock of NorthMarq Capital’s Houston office has arranged the refinancing of a construction loan for a retail property containing two tenants in The Woodlands. The property, located on Kuykendahl Road, contains 11,000 square feet. The loan was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with an unnamed life insurance company.
EL PASO, TEXAS — A business unit of Stockholm, Sweden-based Electrolux Group has leased 409,180 square feet of industrial space in El Paso. BH Properties bought the 655,000-square-foot building from Electrolux in 2009 and leased it back to the company until February of 2014. The property is located at 9600 Pan American Drive. Terms of the five-year lease were not disclosed. Cushman & Wakefield | PIRES International’s Brett Preston and David Hingst were the brokers for the transaction. Champlain Cable Corp. occupies 117,000 square feet in the building, and 128,000 square feet is unoccupied. Electrolux also operates a manufacturing facility across the border from El Paso in Ciudad Juarez.
WEATHERFORD, TEXAS — Imperium Holdings will develop units totaling 18,000 square feet overlooking the Parker County Courthouse in downtown Weatherford. The company is leasing and targeting several regional restaurants and entertainers for the town square redevelopment project. An average of 33,000 cars pass through the square, located at the intersection of US 51 and US 80, each day. Government, office, education and healthcare services are located on and around the square. Imperium expects to complete planning and leasing of the town square project in the coming months.
TULSA, OKLA. — Skanska has signed a contract with Saint Francis Health System for additions and renovations to Saint Francis Hospital in Tulsa. The $62 million project will be managed by Skanska’s Texas operations. It consists of 130,000 square feet of major renovation to the hospital’s existing surgery department, including 28 operating rooms and support spaces, and about 15,000 square feet of horizontal expansion including seven new operating rooms. Additionally, a new 27,000-square-foot mechanical penthouse will be built on the roof of the existing surgery department. Construction is expected to begin in April 2016 and end in March 2020.