HOUSTON — NAI Partners has represented IEK Holdings in leasing a freestanding 20,700-square-foot industrial warehouse/distribution building located at 7310 W. Road in Houston. Michael Keegan of NAI Partners represented the landlord, IEK Holdings, during the negotiations, while Gary Horn with Mohr Partners represented the tenant.
GRANBURY AND PLANO, TEXAS — BMC Capital’s Dallas office has arranged a trio of loans in the metro Dallas cities of Granbury and Plano. Brian Gramlich of BMC arranged all three transactions, and all were arranged through one of BMC Capital’s correspondent banking relationships. In the first transaction, BMC arranged a $662,500 purchase loan for an apartment property located in Granbury. The loan featured a five-year fixed term with a 4.5 percent fixed interest rate and a 30-year amortization schedule. In the second transaction, BMC arranged a $6.1 million purchase loan for an apartment property in Plano. The loan featured a six-year fixed term with a fixed 4 percent interest rate and a 30-year amortization schedule. In the third transaction, BMC arranged a $1.9 million purchase loan for a Sherwin Williams multi-tenant property in Plano. The loan featured a five-year fixed term with a fixed 4 percent interest rate and a 25-year amortization schedule.
![Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]](https://rebusinessonline.com/wp-content/uploads/2015/10/Hotel-ZaZa-Memorial-City-Houston-MetroNational3.jpg "Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]")
HOUSTON — MetroNational, a Houston-based real estate investment, development and management company, has partnered with Z Resorts to construct Hotel ZaZa Memorial City at the intersection of I-10 and Bunker Hill Road in Houston. Hotel ZaZa Memorial City is the brand’s second Houston location. Kirksey Architecture will oversee the design and Anslow Bryant Construction is the general contractor of the property, which is slated to open in summer 2017. Hotel ZaZa Memorial City will include 159 guest rooms, along with 10,000 square feet of event and meeting spaces. Amenities will include a pool with bar and cabanas, a restaurant and lounge. MetroNational and Z Resorts are dedicating four levels of the 17-story hotel to 130 apartment units, with guests having access to all ZaZa amenities. Hotel ZaZa Memorial City will be located at 9787 Katy Freeway and will be the third property opening for the brand in 2017, joining Hotel ZaZa Austin in downtown Austin and Hotel ZaZa Wade Park in the north Dallas suburb of Frisco.
PLANO, TEXAS — Capital One will begin construction this week on a new office building expected to house between 1,000 and 1,200 employees. The new building is an expansion of Capital One’s corporate campus located at 8058 Dominion Parkway in Plano, and will be the seventh office building on the campus. The four-story building will include six training rooms, a cafeteria, collaboration spaces and a game room. The Capital One Plano campus is located on 75 acres, with six current office buildings, three parking garages and a multi-purpose conference center. The combined space covers 1.3 million square feet and houses 5,900 employees. Construction of the new building is scheduled to be complete in the first quarter of 2017.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. has leased 8,992 square feet at the 2000 West Loop South building in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, SRI Nine 2000 WL LP, in the lease transaction. John Parsley and Jay Kyle with Colliers International represented the tenant in negotiations.
DALLAS — After sitting vacant for 25 years, the 22-story Mercantile Commerce building located at 1712 Commerce St. in downtown Dallas, along with the neighboring building 1700 Commerce, are being redeveloped into three new downtown hotels with more than 425 rooms. NewcrestImage is the developer for the project. Phill Geheb of Munsch Hardt arranged financing for the redevelopment project. Construction is slated to begin next week for the hotels, whose brands include Residence Inn and Dallas’ first AC Marriot Hotel. The project received three forms of funding. The financing includes a $35.6 million construction loan, $7.8 million in federal tax credit equity and $8 million in state historic tax credit equity.
HOUSTON — NAI Partners represented Jones McClure Publishing in leasing 6,195 square feet of warehouse space located at 9364 Wallisville Road in Houston. Jones McClure Publishing is the publisher and distributer of O’Connor’s Texas Law Books. Jake Wilkinson of NAI Partners represented the tenant during the lease negotiations, while Holt Lunsford represented the landlord, MacArthur 4500.
MCKINNEY, TEXAS — Baylor Scott & White Health, a not-for profit healthcare system, along with Duke Realty, an Indianapolis-based commercial real estate developer, have begun developing the 75,000-square-foot, three-story Baylor McKinney II medical office building (MOB) at 5252 W. University Drive in McKinney. The MOB will be located on the Baylor Medical Center at McKinney campus adjacent to Baylor McKinney I, a 114,924-square-foot MOB which opened in 2012. Baylor McKinney MOB II is expected to be complete in September 2016. The Dallas office of Medco Construction is the general contractor for the project, and the Dallas office of HDR is the architect.
HOUSTON — Transwestern has arranged construction financing for the Arabella, a condominium tower being developed on the southeast corner of San Felipe Road and Westcreek Lane in Houston. The 33-story property, which will have a total of 99 residences, is scheduled for completion in fall 2017. Jan Sparks and Michael Snodgrass of Transwestern arranged the financing on behalf of developer Randall Davis of D.C. Partners. The EB-5 Immigrant Investor Program, which was part of the equity, allows foreign nationals to obtain an expedited green card in exchange for stimulating the U.S. economy through job creation. Located next to the River Oaks District, Arabella is expected to break ground this month. The high-rise will have penthouses with private swimming pools on the upper floors and a variety of floorplans, most with private elevator entries. Powers Brown Architecture is the project’s architect, and GT Leach Construction is the general contractor.
IRVING, TEXAS — RealtyMogul.com has helped finance the acquisition of the Villa France Apartments, a 134-unit apartment property in Irving. RealtyMogul.com raised $1.5 million of the $3.4 million financing in equity. A joint venture between Paladin Preferred Capital and Steve Bram served as the sponsors of the transaction. Villa France, which is located between Dallas and Fort Worth, features amenities including a playground area, swimming pool and community barbecues. While 35 percent of the units at the property have been upgraded, the sponsor plans to complete renovations on the additional 87 units to optimize rental rates.