Texas

M&M Arranges Sale of 60-Room Hospitality Property in Northeast Texas

by Haisten Willis August 28, 2015

SULPHUR SPRINGS, TEXAS — Marcus & Millichap has arranged the sale of Homespring Suites, a 60-room hospitality property located in Sulphur Springs. The terms of the sale were not released. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a private investor. Cooper, Gomes and Miller also procured the buyer, a private investor. Homespring Suites is located at 1521 E. Industrial Drive. Built in 1999, the three-story, independent hotel is situated on 1.5 acres just off I-30. Amenities include an exercise room, outdoor pool, high-speed Internet access, meeting space and laundry facilities.

August 28, 2015

Q10 KDH Arranges Loan for Apartment Complex in Metro Dallas

by Haisten Willis August 28, 2015

DALLAS — Q10 KDH Vice President Larry Peters has arranged financing for a suburban apartment complex in Dallas. The Class A property offers amenities including a fitness center, walking trails, a pool with wood burning rock fireplace, attached garages and elevators. The property is 95 percent occupied with a tenant mix of 80 percent seniors. Q10 Kinghorn, Driver, Hough & Co. is a Texas-based full service commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.

August 28, 2015

Office Texas

Boxer Arranges Office Lease in Houston

by Haisten Willis August 28, 2015

HOUSTON — Boxer Property has arranged a 5,000-square-foot lease for a government entity in Northwest Houston. The property is located at 340 and 350 N. Sam Houston Parkway E., just off Beltway 8, and provides 172,969 square feet of office space for rent. Boxer Property owns and manages the building. Diana Boswell negotiated the agreement on behalf of Boxer Property, working alongside Gary Rothe, the property manager, and Christine Guerra, leasing representative. The two-story buildings include amenities such as a conference room, video surveillance and 24=hour secure key card access.

August 28, 2015

Office Texas

NAI Partners Represents Sembmarine SSP Inc. in Office Sublease in Houston

by Haisten Willis August 28, 2015

HOUSTON — NAI Partners represented Sembmarine SSP Inc. in subleasing 5,640 square feet of office space located at 10300 Town Park Drive in Houston. Sembmarine SSP Inc., a Sembcorp Marine subsidiary, specializes in the design, engineering and construction of floating production and drilling structures for the oil and gas industry. Jason Whittington and Liz Westcott-Brown of NAI Partners represented Sembmarine SSP Inc. during the sublease negotiations, while Peggy Meredith with PMCRE represented the sub-landlord, CGG Services Inc.

August 28, 2015

Multifamily Texas

Passco Cos. Acquires Apartment Complex in Metro Austin

by Haisten Willis August 27, 2015

ROUND ROCK, TEXAS — Passco Cos. has acquired Lone Oak Apartments, a recently completed 304-unit, Class A apartment complex located in Round Rock. Lone Oak Apartments was completed in 2014 and is 92 percent occupied. The property consists of 304 units across 16 three-story buildings, with one-, two- and three-bedroom floorplans. Units include vaulted ceilings, granite kitchen countertops, stainless steel appliances, full-size washer and dryers, and direct access garages. Community amenities include a clubhouse, business center, billiards/game room, poolside barbecue grills, pool, pet park and fitness center. Chris Black of KeyBank Real Estate Capital’s commercial mortgage group arranged the financing through Fannie Mae for the acquisition of the property.

August 27, 2015

Multifamily Texas

Milestone Apartments REIT Arranges $45M Property Acquisition in Metro Dallas

by Haisten Willis August 27, 2015

LEWISVILLE, TEXAS — Milestone Apartments Real Estate Investment Trust has agreed to purchase Broadstone Vista Ridge, a 372-unit, Class A apartment community located in Lewisville. The purchase price is $45 million. Built in 2006, Broadstone is 95 percent occupied, with average monthly rents of $1,050. Broadstone includes one-, two- and three-bedroom units. Amenities include a fitness center, swimming pool with an outdoor fireplace, multimedia center and a cyber cafe. Several large employment centers are located in close proximity to the Property, including the Dallas-Fort Worth International Airport, Las Colinas Urban Center and the Legacy Business Park.

August 27, 2015

Multifamily Texas

Pure Multi-Family Purchases Apartment Complex in San Antonio for $51M

by Haisten Willis August 27, 2015

SAN ANTONIO — Pure Multi-Family REIT LP will acquire an apartment community known as the Brackenridge at Midtown in San Antonio for $51 million. Brackenridge was constructed in 2014 and consists of 282 units averaging 852 square feet. Brackenridge is located just east of Broadway on Brackenridge Avenue. Amenities include stainless steel appliances, granite countertops, wood-style flooring and walk-in closets. Pure Multi is a publically traded Canadian vehicle offering investors exposure to U.S. multifamily real estate assets.

August 27, 2015

Multifamily Seniors Housing Texas

Propero Provides Development Capital for New Seniors Housing Facility in Metro Houston

by Haisten Willis August 27, 2015

CONROE, TEXAS — Lancaster Pollard’s proprietary private equity program, Propero Seniors Housing Equity Fund, has partnered with a joint venture mainly consisting of Paradigm Senior Living, the land owners and passive individual investors for the development of a new seniors housing and care facility to be called Woodhaven Village. Located in Conroe, Woodhaven Village will be a 140-unit community consisting of 60 independent living units, 60 assisted living units and 24 memory care beds. Propero is a private equity fund established by Lancaster Pollard to invest in seniors housing properties. Construction on the facility began this summer and will be complete in late 2016.

August 27, 2015

Retail Texas

Venture Represents WinCo Foods in Securing Two New Locations in Metro Dallas

by Haisten Willis August 27, 2015

ARLINGTON AND FORT WORTH, TEXAS — Venture Commercial Real Estate has represented WinCo Foods LLC in deals to open new stores in Arlington and Fort Worth. In Arlington, WinCo has leased an 85,000-square-foot building in the Bardin Place shopping center, located on the southwest corner of I-20 and South Cooper Street. WinCo will join tenants including Ross Dress for Less, Hobby Lobby and Dollar Tree. WinCo expects to start construction this fall. In Fort Worth, WinCo acquired a 10.5-acre tract and is expected to begin construction this fall on an 85,000-square-foot store located on the southeast corner of Tehama Ridge Parkway and Presidio Vista Drive. Kevie Beard, McGregor Converse, Jonathan Cooper and Theo Thompson of Venture represented WinCo in both deals. Caroline Woodbury and Don Woodbury of DWC Commercial Properties coordinated acquisition, development and entitlement of the properties. Mike Axelrad, Sr. represented Brixmor Property Group, the landlord in the Arlington lease. Weber & Co., the landlord in the Fort Worth transaction, was self-represented. WinCo Foods operates five stores in North Texas in Lewisville, Fort Worth, McKinney, Duncanville and North Richland Hills. A Garland store is expected to open this month.

August 27, 2015

Multifamily Texas

Bascom Group Acquires 436-Unit Apartment Community in Metro Dallas

by Haisten Willis August 26, 2015

GRAND PRAIRIE, TEXAS — The Bascom Group has acquired Towns of Riverside, a 436-unit apartment community located in Grand Prairie. The property offers access to all the Dallas area’s major employment corridors. Jamie Leachman of Newmark Grubb Knight Frank arranged acquisition financing on behalf of Bascom. Brian Murphy and Brian O’Boyle Jr. of ARA Newmark represented the seller in the transaction. Built in 1999, the property consists of 59 residential buildings and one standalone leasing center spread across 54 acres. The unit mix comprises 52 percent one-bedroom units, 40 percent two-bedroom units and 8 percent three-bedroom units. Roughly 39 percent of the 436 units provide direct access garages and 28 percent are townhome-style apartment homes. Amenities include a clubhouse, media lounge, fitness center, pool and spa, volleyball court, tennis court, basketball court and fishing pier overlooking the community lake.

August 26, 2015

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