Texas

Rosemont Realty Acquires Office Tower in Houston

by Haisten Willis December 11, 2014

HOUSTON — Rosemont Realty LLC has acquired Kirkwood Tower in Houston. The 15-story tower located at 11757 Katy Freeway includes 285,682 rentable square feet of Class A office space. The acquisition brings Rosemont’s total square footage in metro Houston to nearly 2.5 million square feet. The company also owns the adjacent Kirkwood Atrium II property. Rosemont purchased the office building in a joint venture with new Rosemont investor Central Properties. A joint venture between Denver-based Amstar and Dallas-based Frontier Equity was the seller. The building was constructed in 1984, with major capital improvements made between 2008 and 2013. Tenants include Texon LP, Skyline Executive Suites Ltd., KCA Deutag LLC, First Solar Inc., Greene’s Energy Group LLC and Mac Haik Holding Co.

December 11, 2014

Boxer Property Arranges Office Lease in Metro Dallas

by Haisten Willis December 11, 2014

FARMERS BRANCH, TEXAS — Boxer Property has arranged a 23,893-square-foot office lease for Nurtur Health Inc. at 4001 McEwen Road in Farmers Branch. Gil Engelhardt, Jillian Brody and Mark Dowdle of Boxer represented the landlord. Cassidy Turley represented the tenant. 4001 McEwen Road is part of a three-building office complex. Amenities at the property include a walking trail, a gym, cafeteria and on-site security. The property is located 15 miles from DFW.

December 11, 2014

Multifamily Texas

HFF Negotiates Sale, Financing of Four Apartment Communities in Houston

by Haisten Willis December 11, 2014

HOUSTON — HFF has negotiated the sale and financing of a four-property, Class A apartment portfolio totaling more than 900 units in Houston. Southwest Multifamily Partners purchased the portfolio in a joint venture with an institutional co-investment partner. Todd Marix, Todd Stewart and Chris Curry of HFF marketed the property on behalf of the unnamed seller. Andy Scott, Jody Thornton and Michael Cosby of HFF’s debt placement team worked on behalf of the buyer to secure acquisition financing in four separate transactions through Freddie Mac’s CME program. The loans will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. The portfolio is 95 percent leased and located in the Texas Medical Center and Galleria submarkets. Lincoln Property Co. will manage the properties, which include Mirage Apartments at 2100 Bering Drive, Parque Del Oro Apartments at 8380 El Mundo St., San Melia Apartments at 6383 El Mundo St. and Versailles Park Apartments at 7200 Almeda.

December 11, 2014

Multifamily Texas

Berkadia Originates $40.3M in Financing for Apartment Complexes in Metro Dallas, Houston

by Haisten Willis December 10, 2014

FORT WORTH and HOUSTON — Berkadia has originated $40.3 million in financing for two multifamily properties located in Fort Worth and Houston. The first transaction was a $29 million loan for Thornbury Apartments, which is located at 7055 Hollister Road in Houston. The seven-year, floating-rate loan includes three years of interest-only payments and a 30-year amortization schedule. The property consists of 408 one-, two- and three-bedroom units and was 96 percent occupied at the time of closing. The borrower was AHC Thornbury Owner LLC. The second transaction was an $11.3 million loan for The Retreat at River Ranch Apartments. The seven-year, floating-rate loan includes two years of interest-only payments and a 30-year amortization schedule. The property consists of 248 one- and two-bedroom units. The property is located at 4850 River Ranch Boulevard near Chisholm Trail Parkway and I-20 and was 94 percent occupied at the time of closing. Andy Hill of Berkadia’s Austin office secured both loans.

December 10, 2014

Olympus-Property-Union-Carrollton-Square

Multifamily Texas

Olympus Acquires Apartment Complex in Metro Dallas

by Haisten Willis December 10, 2014

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.

December 10, 2014

Loans Multifamily Texas

Old Capital Provides $2.3M Loan for Apartment Complex in San Antonio

by Haisten Willis December 10, 2014

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.

December 10, 2014

Loans Office Texas

NAI Robert Lynn Arranges Office Lease in Metro Dallas

by Haisten Willis December 10, 2014

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.

December 10, 2014

Retail Texas

M&M Arranges Sale of Retail Property in Houston

by Haisten Willis December 10, 2014

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.

December 10, 2014

Multifamily Texas

CBRE Arranges $151M Financing for Nine Apartment Properties in Texas

by Haisten Willis December 9, 2014

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.

December 9, 2014

Hospitality Texas

M&M Brokers Sale of Hospitality Property in Houston

by Haisten Willis December 9, 2014

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.

December 9, 2014

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