Texas

Drever Capital Acquires 208-Unit Apartment Complex in Metro Dallas

by Haisten Willis October 30, 2015

SANGER, TEXAS — Drever Capital Management has acquired Trails of Sanger, a 98 percent occupied, 208-unit apartment community in Sanger, from InterCapital Partners. Brian O’ Boyle Sr. and his son, Brian O’ Boyle Jr., with ARA Newmark, brokered the transaction for InterCapital. A prior relationship with lenders Pillar Finance and Fannie Mae also helped Drever Capital assume the existing Fannie Mae loan on Trails of Sanger, according to Darby Keele, asset manager for Cohen Financial LLC of Overland Park, Kan., Fannie Mae’s delegated underwriter on the debt.

October 30, 2015

Industrial Texas

Lee & Associates Negotiates 33,810 SF Industrial Lease in Dallas

by Haisten Willis October 30, 2015

DALLAS — Lee & Associates has completed a lease transaction for a 33,810-square-foot space located at 3000 W. Commerce St., Suite 110, in Dallas. Lee & Associates represented both the landlord and tenant in the transaction. Adam Graham and Mark Graybill represented the landlord, First Industrial Realty Trust. Reid Bassinger represented the tenant, Summit Direct Mail.

October 30, 2015

Multifamily Texas

M&M Arranges Sale of 37-Unit Apartment Building in Metro Dallas

by Haisten Willis October 30, 2015

MCKINNEY, TEXAS — Marcus & Millichap has arranged the sale of Elm Street Village, a 37-unit apartment property located in McKinney. Stephen Crittenden of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Crittenden also procured the buyer, a private investor with prior duplex and quadplex investment experience. The seller had owned the asset for 15 years and sold it as part of a 1031 exchange. The buyer may redevelop the site in the future. Elm Street Village is located at 1303 S. Tennessee St. The asset is a collection of duplexes, quadplexes and office buildings. Originally constructed in 1953, it is situated on the corner of Elm and Tennessee streets across from McKinney Middle School.

October 30, 2015

Hospitality Loans Texas

Berkadia Secures $17.5M Acquisition Loan for Hotel in Austin

by Haisten Willis October 29, 2015

AUSTIN, TEXAS — Berkadia has originated $17.5 million in acquisition financing for the Holiday Inn Austin Midtown. Stuart Wernick and Eli Gershenson of Berkadia’s Dallas office secured the five-year, fixed-rate financing with a senior and mezzanine structure on behalf of the borrower, a partnership between Alliance Development and Compass Lodging Advisors. Berkadia selected two lenders to help secure the necessary loan proceeds required by the borrower. Located at 6000 Middle Fiskville Road, Holiday Inn Austin Midtown rises nine stories and includes 189 rooms, as well as 15,000 square feet of meeting and conference room space. Hotel amenities include a pool, fitness center, business center and cocktail bar.

October 29, 2015

Hospitality Loans Texas

KeyBank Secures $16.6M in CMBS Financing for Residence Inn in Austin

by Haisten Willis October 29, 2015

AUSTIN, TEXAS — KeyBank Real Estate Capital has secured a $16.6 million, non-recourse CMBS first mortgage for Residence Inn in Austin. The 112-room hotel is an extended-stay property. Ashley Harkness and Chuck Butterworth of Key’s commercial mortgage group secured the financing.

October 29, 2015

Industrial Texas

BH Properties Signs Tenant to 310,000 SF Industrial Lease in Fort Worth

by Haisten Willis October 29, 2015

FORT WORTH, TEXAS — BH Properties has completed its first major lease within a former Radio Shack industrial portfolio in Fort Worth that the firm acquired in June. Chain Link Services LP leased 310,000 square feet at 1000 Terminal Road, or about half of the 628,000-square-foot industrial building, which is situated on more than 23 acres. George Curry and Jamie Galati of JLL’s Fort Worth office, along with Chris Stout of JLL’s Dallas office, represented BH Properties in the lease transaction. Jeff Givens in Transwestern’s Fort Worth office represented Chain Link Services, which serves chain restaurants and convenience stores in the procurement of materials and equipment to run food service-oriented businesses. Chain Link Services plans to enter the Terminal Road facility in phases starting in January. Chain Link Services already occupies 128,400 square feet at 4675 Railhead Road and another 60,000 square feet at a separate Fort Worth facility. BH Properties originally acquired the assets out of a bankruptcy liquidation earlier this year.

October 29, 2015

Industrial Texas

Stream Arranges Sale of New Industrial Building in Metro Dallas

by Haisten Willis October 29, 2015

GARLAND, TEXAS — L.L. & Smith Holdings LLC has purchased a newly constructed, 167,400-square-foot industrial building completed by Huntington Industrial Partners at 3839 Distribution Drive in Garland. The project was the first industrial building built since 2008 in Garland and was the first LEED-certified building ever constructed in the city. Seth Koschak and Eric Crutchfield of Stream Realty Partners represented Huntington in the sale, and Ryan Wolcott of Stream represented the buyer.

October 29, 2015

Industrial Texas

Lee & Associates Negotiates 34,776 SF Industrial Lease in Dallas

by Haisten Willis October 29, 2015

DALLAS — Lee & Associates has negotiated a lease transaction for a 34,776-square-foot industrial space located at 10515-10537 Miller Road in Dallas. Ken Wesson of Lee & Associates represented the tenant, Shearer Supply. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, Colony Financial.

October 29, 2015

Multifamily Texas

IPA Arranges Sale of a 312-Unit Multifamily Complex in Metro Dallas

by Haisten Willis October 28, 2015

HALTOM CITY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Apartments at Amesbury Court, a 312-unit multifamily community in Haltom City. Will Balthrope, Drew Kile and Rowan Burch represented the seller and procured the buyer, Hamilton Zanze, in the transaction. The property is located at 4699 Fossil Vista Drive at its intersection with North Beach Street. Amesbury Court feature nine- and 10-foot ceilings with crown moldings, full-size washer/dryers, patios or balconies, and maple cabinetry. Select units include travertine wood-burning fireplaces with mantels and French doors. Community amenities at Amesbury Court include controlled gate access entry, two pools, 104 detached garages, 87 carport parking spaces, a fitness center, multi-purpose sport courts, a business center and on-site car care.

October 28, 2015

Office Texas

Cousins Completes Renovations to Office Property in Houston’s Greenway Plaza

by Haisten Willis October 28, 2015

HOUSTON — Cousins Properties has completed its multi-million dollar renovation at 3 Greenway Plaza, part of the 4.4 million-square-foot Greenway Plaza campus. The completed renovations include a redone lobby and concourse levels, with marble tile and wood finishes, new lighting fixtures and furniture, commissioned art installations throughout and updated parking garage elevator banks. Cousins is also working on a new, 12,000-square-foot fitness center and improvements to The Shops at Greenway Plaza, set to be completed in the second quarter of 2016. These are the first common area upgrades at Greenway Plaza since 1998.

October 28, 2015

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