Texas

Q Real Estate Holdings Purchases 2400 N. Glenville in Metro Dallas

by Haisten Willis July 28, 2015

RICHARDSON, TEXAS — Q Real Estate Holdings, the real estate affiliate of Fort Worth-based Q Investments, has purchased 2400 N. Glenville in Richardson. The property is now open for tours and new leases for the first time in its history. It opened in 1989 as a build-to-suit for Verizon, then known as MCI, and is located in the heart of Galatyn Park Urban Village, a mixed-use development in Richardson’s Telecom Corridor. Verizon will remain in the property until the fourth quarter of 2016 when Q Real Estate plans to begin renovations to reposition the property for new tenants. DTZ’s Trey Smith and Clint Madison will oversee leasing services for the 388,600-square-foot facility. Comprising four interconnected 100,000-square-foot buildings, 2400 N. Glenville is one of the largest contiguous blocks of available office space in the Dallas market.

July 28, 2015

ARA Newmark Arranges Sale of Apartment Complex in Metro Houston

by Haisten Willis July 27, 2015

TOMBALL, TEXAS — ARA Newmark has arranged the sale of Alexan Creekside, a 380-unit, Class A apartment complex located in Tomball. Matthew Rotan and Adam Allen of ARA Newmark represented the sellers, Trammell Crow Residential and The Carlyle Group, in the transaction. David Marshall of ARA Newmark previously advised Trammell Crow Residential on the purchase of the land where the property now stands. Allen advised Trammell Crow on raising equity for the development. Los Angeles-based multifamily real estate management company Francis Property Management was selected as the buyer and purchased the property for an undisclosed price. Francis maintains a portfolio of apartment complexes located in Texas and California. Constructed in 2014, Alexan Creekside is located near The Woodlands’ 3,500-acre Creekside Park, which is the master-planned community’s newest village. Amenities include an electronically keyed unit and amenity access, USB charging stations, granite countertops, an upgraded unit finish package, a stainless steel appliance package, track and pendant lighting and under-cabinet kitchen lighting. Community amenities include swimming pools with an outdoor kitchen, cyber cafe, clubroom, resident lounge, coffee bar, complimentary Wi-Fi and a dog park.

July 27, 2015

Multifamily Texas

M&M Arranges Sale of 168-Unit Apartment Building in Fort Worth

by Haisten Willis July 27, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Sierra Hermosa Apartments, a 168-unit apartment property located in Fort Worth. John Barker, Trey McGhin and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private partnership. Barker, McGhin and Allen also secured the buyer, a New Jersey limited liability company. Sierra Hermosa Apartments is located at 3254 Las Vegas Trail near West Camp Bowie Boulevard with access to Highway 820 and I-30. The property was built in 1970 and comprises 41 buildings. Nearly 70 percent of the units have two bedrooms. There are three onsite laundry facilities, seven floor plans and three boiler rooms.

July 27, 2015

Multifamily Texas

Waypoint Residential Acquires Apartment Complex in Houston

by Haisten Willis July 27, 2015

HOUSTON — Waypoint Residential has purchased the Valencia Place apartment complex in Houston. Located at 3131 W. Bellfort Ave., Valencia Place is a 246-unit, Class A property located near the Texas Medical Center. Valencia Place also provides access to major highways.

July 27, 2015

Loans Multifamily Texas

Old Capital Provides $9.2M Loan for Embassy House Apartments in Corpus Christi

by Haisten Willis July 27, 2015

CORPUS CHRISTI, TEXAS — Old Capital has provided a $9.2 million acquisition loan for Embassy House Apartments in Corpus Christi. A local investment group acquired the asset, which was built in 1980. Located only a few miles from the beach, the new owners plan to update the property and then reposition for a long-term hold. Old Capital provided the non-recourse Fannie Mae loan with 80 percent leverage.

July 27, 2015

Industrial Office Texas

Colliers International Arranges Sale of Office/Warehouse Space in Metro Houston

by Haisten Willis July 27, 2015

MISSOURI CITY, TEXAS — Colliers International has arranged the sale of 6,500 square feet at 13370 S. Gessner Road in Missouri City. AAA Tran Real Estate Management LLC purchased the property. Tasha Bannister of Transtar Fine Properties represented the buyer in the transaction. Barkley Peschel of Colliers International represented the seller in the transaction. Madera Studio, a professional photography and portrait studio, will occupy the space.

July 27, 2015

Office Texas

Abilene Christian University Leases Space for Campus in Metro Dallas

by Haisten Willis July 24, 2015

ADDISON, TEXAS — Abilene Christian University (ACU) has signed a long-term lease for 25,000 square feet of office space at One Hanover Park, an eight-story, 195,894-square-foot, Class A office building located at 16633 N. Dallas Parkway in Addison. PMRG’s Kurt Cherry, Brittany Ricketts and Shea Byers handled the deal internally for the firm. Holden Lunsford and James Engels of Holt Lunsford Commercial represented ACU. Built in 1998, One Hanover is located along the Dallas North Tollway and is 96 percent occupied.

July 24, 2015

Loans Multifamily Texas

Old Capital Provides Loan for French Chalet Apartments in San Antonio

by Haisten Willis July 24, 2015

SAN ANTONIO — Old Capital has provided a five-year loan with a fixed interest rate, a 25-year amortization schedule and one year of interest-only payments for French Chalet Apartments in San Antonio. Local buyers acquired the value-add asset. Using loan proceeds, the new owners will perform exterior and interior renovations to increase the value of the property.

July 24, 2015

Multifamily Texas

M&M Arranges Sale of 200-Unit Apartment Building in Metro Dallas

by Haisten Willis July 24, 2015

DUNCANVILLE, TEXAS — Marcus & Millichap has arranged the sale of Fairmeadows Apartments, a 200-unit apartment property situated on 11.7 acres in Duncanville. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Barker also secured the buyer, a partnership that assumed an existing Fannie Mae loan. Fairmeadows Apartments is located at 800 Merrill Road in Duncanville, a city situated within Dallas County nine miles from downtown Dallas. The construction includes a concrete slab foundation, wood framing, brick with vinyl siding exterior and pitched composition roofs. On-site amenities include laundry facilities, a swimming pool and a playground area.

July 24, 2015

Retail Texas

Transwestern Represents Mod Pizza in Opening of Five Houston Area Locations

by Haisten Willis July 24, 2015

HOUSTON — Transwestern has represented MOD Pizza in five leases totaling 13,662 square feet for new locations in the Houston area. Grant Walker and Chris Reyes of Transwestern served as advisors for MOD Pizza in the Houston market, and represented the retailer in the transactions. MOD will be operating over 100 stores across the U.S. by the end of 2015, with plans to open more than 30 additional locations in Houston within the next four to five years. MOD Pizza’s newest Houston locations include 3,175 square feet at 19820 Southwest Freeway in Sugar Land, 2,797 square feet at 5777 San Felipe St. in Houston, 2,744 square feet at 2682 Pearland Parkway in Pearland, 2,446 square feet at 10123 Louetta Road in Houston and 2,500 square feet at 14555 Memorial Drive in Houston.

July 24, 2015

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