Texas

Kite Realty Acquires Power Center in Fort Worth

by Haisten Willis August 25, 2015

FORT WORTH, TEXAS — Kite Realty Group Trust has acquired Chapel Hill Shopping Center, a 200,000-square-foot power center located in Fort Worth. The center is 96 percent leased and anchored by Central Market, The Container Store and Cost Plus World Market. Other tenants include Ann Taylor, Beauty Brands, New Balance and Men’s Wearhouse. The purchase price was funded using 1031 sale proceeds and other cash and liquidity sources. Chapel Hill Shopping Center is located at the intersection of I-30 and Hulen Street. The area has an estimated population of 275,000 residents within a five-mile radius. David Disney and Adam Crockett of Disney Investment Group represented the seller and also procured the buyer in the transaction.

August 25, 2015

HFF Arranges Financing for Apartment Complex in Austin

by Haisten Willis August 25, 2015

AUSTIN, TEXAS — HFF has arranged financing for Falcon Ridge, a 296-unit apartment complex in Austin. HFF worked on behalf of the borrower, Griffis Residential, to secure the 10-year, fixed-rate loan with TIAA-CREF. Loan proceeds were used to acquire the property. Built in 2000, Falcon Ridge has 12 residential buildings consisting of one-, two- and three-bedroom floor plans averaging 901 square feet. Community amenities include two swimming pools, a spa, fitness center, tanning room, sand volleyball court, barbecue area with grills, dog park, jogging trail, car wash and clubroom/business center. The property is situated on 23 acres at 500 E. Stassney Lane, immediately southeast of the intersection of Interstate 35 and Highway 71. The asset is 94 percent occupied. Eric Tupler, Josh Simon and Casey Wenzel led the HFF debt placement team representing the borrower.

August 25, 2015

Retail Texas

M&M Arranges Sale of Net Leased Property in Metro Dallas

by Haisten Willis August 25, 2015

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Chase Motor Bank, a net leased property located in Arlington. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Chase Motor Bank is located at 745 W. Lamar Blvd. The property has a corporate guarantee from JPMorgan Chase Bank. The tenant recently exercised a three-year lease extension to coincide with the lease expiration date of the adjacent Chase Banking Center. There are 10 years remaining on the term, with two, five-year options for renewal. The motor bank was constructed in 1982 and served as a motor bank to The American Bank of Arlington, which was later acquired by Chase. The lot size is 30,100 square feet.

August 25, 2015

Multifamily Texas

JLL Brokers Sale of Silver Rock Apartments in San Antonio

by Haisten Willis August 25, 2015

SAN ANTONIO — JLL has brokered the sale of Silver Rock Apartments, which is located on the northwest side of San Antonio. JLL worked on behalf of the seller, Harbor Group International, in the transaction for the ranch-style value-add property. Regional Investment and Management LLC purchased the 328-unit complex. Scott LaMontagne and Moses Siller led the JLL team on the transaction. Silver Rock Apartments is a Class A apartment community with amenities including a fitness center, pool and spa, picnic area and club room.

August 25, 2015

Tarrant-County-Civil-Court-Tom-Vandergriff

Office Texas

Tom Vandergriff Civil Courts Building Opens in Fort Worth

by Haisten Willis August 24, 2015

FORT WORTH, TEXAS — A ribbon cutting ceremony has been held for the Tom Vandergriff Civil Courts Building in Fort Worth. Yates Construction provided preconstruction and construction services for the project. The downtown development consists of a public plaza and six levels, including 13 courtrooms spanning nearly 235,000 square feet. The finished building mirrors the architecture of other buildings downtown using local and regional materials. Historic elements from the original civil courts building were salvaged and are now featured on the front facade of the new civil courts building. The design and construction team utilized BIM for clash detection, verified and worked with several design models and incorporated sustainable features to pursue LEED Silver certification.

August 24, 2015

Multifamily Texas

Transwestern Arranges Sale of Multifamily Portfolio in Houston

by Haisten Willis August 24, 2015

HOUSTON — Transwestern’s Houston office has arranged the sale of a two-property multifamily portfolio totaling 117 units in Houston’s Spring Branch District. Ed Cummins and Ryan Mendez of Transwestern represented the seller, OSD Ltd., in the transaction. The off-market deal involved the sale of Spring Gardens, a 79-unit apartment complex located at 1714 Wirt Road, and Johanna Square, a 38-unit complex located at 1715 Johanna Drive. An unnamed buyer purchased both properties.

August 24, 2015

Office Texas

NAI Partners Brokers 8,200 SF Office Lease in Houston

by Haisten Willis August 24, 2015

HOUSTON — NAI Partners represented Rockwell Management in the lease of 8,200 square feet at the 1900 St. James Building in Houston’s Galleria submarket. Sam Hansen of NAI Partners represented the landlord, Rockwell Management, in the transaction. Connor Tamlyn of CBRE represented the tenant, ioMosaic.

August 24, 2015

Office Texas

Moody Rambin Arranges Office Lease in Houston

by Haisten Willis August 24, 2015

HOUSTON — Rent Recover has leased 4,840 square feet at the Park Plaza Business Park building located at 11104 W. Airport Blvd. in Houston. Spencer Starkey, Kurt Kistler and Griffin Jaggard of Moody Rambin represented the building owner, Stafford Office Park II LP, in the transaction. Brian Strait with Lincoln Property Co. represented the tenant in negotiations.

August 24, 2015

Multifamily Retail Texas

Terra Verde Group, Wheelock Street Capital Acquire Boot Ranch in Central Texas

by Haisten Willis August 21, 2015

FREDERICKSBURG, TEXAS — Terra Verde Group, in a partnership with Wheelock Street Capital, has acquired Boot Ranch, a 2,052-acre master-planned community located in Fredericksburg, from Lehman Brothers. The acquisition includes estate and cabin home sites, a 55,000-square-foot clubhouse and village complex, a 4.5-acre pool and sports campus, an 18-hole golf course, a 34-acre golf practice park and a par-3 course. The new ownership group plans a regional marketing outreach for the property. Additional amenity enhancements are scheduled for 2016.

August 21, 2015

Loans Multifamily Texas

HFF Arranges $45M in Acquisition Financing for Apartment Complex in Metro Dallas

by Haisten Willis August 21, 2015

FRISCO, TEXAS — HFF has arranged $45 million in acquisition financing for Amalfi Stonebriar, a 395-unit, Class A apartment complex in Frisco. Working on behalf of the borrower, Pure Multi-Family REIT LP, HFF placed the 12-year, fixed-rate loan through TIAA-CREF. Amalfi Stonebriar is located at 5725 Town & Country Blvd. in the north Dallas suburb of Frisco across from the future headquarters of Toyota and FedEx, as well as the new Liberty Mutual office campus. Completed in 2014, the property has units ranging from 603 to 1,689 square feet, with 69 percent of the units one-bedroom and 31 percent two-bedroom. Amenities include a swimming pool, fitness center, grilling areas, courtyard and a business center. The asset is 94 percent occupied. John Brownlee and Michael Cosby led the HFF debt placement team representing the borrower.

August 21, 2015

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