CARROLLTON, TEXAS — Olympus Property has acquired Union at Carrollton Square, a 311-unit Class A apartment complex in Carrollton. The asset was purchased from High Street Residential, a subsidiary of Trammell Crow Co. High Street Residential built the five-acre complex in two phases during 2013 and 2014. Union at Carrollton Square includes a five-story parking garage, 4,700 square feet of ground-level retail space, two pools, an outdoor fireplace, clubhouse and fitness center.
SAN ANTONIO — Old Capital has arranged a $2.3 million purchase loan for the 74-unit Darby Square Apartments in San Antonio. The 10-year, non-recourse Fannie Mae loan included a 4.6 percent interest rate and 30 year amortization schedule. David Walls of Old Capital’s Dallas office arranged the loan for a local investor group in San Antonio. The buyer plans to make interior and exterior improvements to the properties.
ADDISON, TEXAS — NAI Robert Lynn’s office division has arranged a 7,017-square-foot office lease for Solutions by Text, an Addison-based company that identifies and streamlines communication efficiency for a number of businesses. Nick Lee of NAI Robert Lynn represented the tenant and secured the fifth-floor space with exterior building signage located at 15110 N. Dallas Pkwy.
HOUSTON — Marcus & Millichap has arranged the sale of Market Square, a 9,567-square-foot retail property located in Houston. Justin Miller, Jerry Goldstein and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Market Square is located at 56 FM 1960 Road West in Houston.
CARROLLTON, PLANO, HALTOM CITY, BEDFORD, DALLAS, HOUSTON, EULESS & LEWISVILLE, TEXAS — CBRE Capital Markets’ Debt & Structured Finance team has arranged $151 million in financing on behalf of Harbor Group International for the acquisition of The England Group Portfolio. The 2,368-unit multifamily portfolio includes nine apartment complexes in the Dallas and Houston areas. A total of nine loans were provided in three separate closings. Freddie Mac provided seven new mortgages, each with a seven-year term and floating interest rate. Freddie Mac also provided two supplemental loans on two of the assets, each with a 7.6-year term and fixed rate. The apartments are located in Carrollton, Plano, Haltom City, Bedford, Dallas, Houston, Euless and Lewisville. Charles Foschini, Christopher Apone and Christian Lee of CBRE’s Miami office facilitated the loans.
HOUSTON — Marcus & Millichap has brokered the sale of a two-building, 109-room Holiday Inn Express Hotel & Suites in Houston. Terms of the sale were not released. Jake Gaddy and Steve Swenholt of Marcus & Millichap’s Austin office represented the seller, a Houston-based developer. Chris Gomes of the firm’s Dallas office and Allan Miller of the San Antonio office represented the buyer, a private client. The three-story hotel was built in 1999 and was converted into a Holiday Inn Express & Suites in early 2012. The hotel is located at 125 Airtex Drive and is five miles away from George Bush Intercontinental Airport. Amenities include an outdoor pool, gym, guest laundry, business center and meeting room.
LANCASTER, TEXAS — Stream Realty Partners has arranged the sale of an industrial property located at 3334 N. I-35 in Lancaster. The 55,000-square-foot building is located on three acres and was purchased by an investor. Todd Noonan and Hanes Chatham of Stream Realty Partners handled the sale. The property includes 5,000 square feet of office space and additional land for expansion, parking or outside storage.
HOUSTON — Crimson Real Estate Fund and USAA Real Estate Co. are set to begin construction on a new Class A apartment complex in the Westchase submarket of Houston. Patrinely Group is developing the 266-unit complex, which will be built on three acres located next to the 2500 City West Blvd. office building. The two companies acquired the building and an adjacent development site in November 2011. The project will include one- to three-bedroom units ranging in size from 600 square feet to 1900 square feet. It is set for completion in July 2016.
BAYTOWN, TEXAS — Aries Capital has arranged an $8.9 million loan for the Holiday Inn Express in Baytown. The property opened in April and is located at 7515 Garth Road across the bay from Houston. Rushi Shah of Aries’ Chicago office arranged the non-recourse, 10-year loan on behalf of the borrower, Pride Management. The loan replaces an existing full recourse, bank-constructed loan.
SAN ANTONIO — BMC Capital has arranged a $1.1 million purchase loan for an apartment complex in San Antonio. The 10-year loan was cross-collateralized on two properties at a 65 percent loan-to-value ratio, with a 4.9 percent interest rate and 30-year amortization schedule. The loan was arranged through one of BMC’s correspondent banking relationships. Brian Gramlich of BMC Capital’s Dallas office arranged the loan.
