LEWISVILLE, TEXAS — Bright Realty has brokered the sale of 5.6 acres in Lewisville in the Castle Hills area. The company owned 19 acres of SH 121 frontage road property adjacent to Nebraska Furniture Mart and has sold the final acreage to Unser Racing for an indoor go-cart racing and events center. Tim McNutt and Britton Lankford of Bright Realty brokered the sale for Bright Realty. Forshey Hoobler and Craig Phelps of JLL represented the buyer.
HOUSTON — SurePoint Self Storage will open a third property in the Houston market. This summer the SurePoint team will begin construction on a Class A, three-story building that will include 123,000 square feet. The two-acre property is located on Barker Cypress Road, south of US 290. In addition, the three San Antonio-based developers are poised to begin construction in the next 60 days on two Class A multi-story facilities in the Houston market, one is a three-story, 110,000-square-foot facility on Spring Cypress Road just east of Grant Road in Cypress, and the other is a four-story building in Richmond near Highway 59 and the Grand Parkway. SurePoint Self Storage has just completed two new projects in San Antonio and a third is under construction.
CONROE, TEXAS — Harmony Housing, a non-profit organization that owns and acquires affordable multifamily housing in the U.S., has acquired the Park Village apartment complex in Conroe. The company aims to grow its affordable rental housing properties and provide safe and affordable housing across the country. The organization’s proceeds are reinvested into its property portfolio or distributed to the broader community through charitable giving. Harmony Housing was originally founded as a philanthropic effort of Stephen Rosenberg, founder of Greystone & Co., a real estate lending, investment and advisory company.
PLEASANTON, TEXAS — Franklin Street Real Estate Services has arranged STL Retail Properties’ $3.2 million purchase of Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton. Bryan Belk of Franklin Street’s Atlanta office represented the buyer in the transaction. Pleasanton Plaza, located at 1715 W. Oaklawn Road, is fully occupied by Bealls and Tractor Supply. The buyer plans to hold the property long-term.
GEORGETOWN AND PFLUGERVILLE, TEXAS — Granite Investment Group has sold two senior housing properties near Austin for $23.4 million. The sale included Park Place Care Center and Assisted Living, a senior care campus that includes a 116-bed skilled nursing facility and a 48-bed assisted living facility in Georgetown. Built in 1997 on nearly seven acres, Park Place offers 24-hour skilled nursing care, short- and long-term rehabilitation, common areas, private and semi-private rooms, activity directors, spiritual care and an order-by-menu dining program. An affiliate of Granite Investment Group originally purchased the property in 2007 for $9.2 million. The second property in the transaction is Pflugerville Care Center, an 111-bed skilled nursing facility built in 1991 on 3.2 acres. The facility provides residents with short- and long-term rehabilitation care. An affiliate of Granite Investment Group originally purchased the property in 2005 for $9.1 million. Mark Myers and Joshua Jandris of Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction.
RICHARDSON, TEXAS — KDC, a real estate development and investment firm, has announced that Good Union Urban Barbeque will open its first location at CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant will serve Texas barbeque. Meat will be smoked on an indoor fire pit equipped with ventilation to accommodate the building. There will be a patio facing the central plaza where guests can enjoy craft beers and premium cocktails from the full-service bar while listening to live music in the park. The 3,903-square-foot restaurant is scheduled to open in the fall of 2015. It will be located in the base of One CityLine at 1150 State St.
DALLAS, HOUSTON — HFF has arranged the sale of a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in Metro Dallas and Houston. HFF marketed the portfolio on behalf of the seller, a partnership between Mayfield Properties LP and AB Real Estate Group. A private fund advised by Crow Holdings Capital – Real Estate purchased the assets for an undisclosed amount. The eight Dallas-Fort Worth properties are located in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets. The 11 buildings are 98 percent leased and total 1 million square feet. The eight Houston facilities are located in the Northwest and Southwest industrial markets and total 16 buildings with 1.3 million square feet. That portfolio is 93.6-percent leased. Randy Baird, Rusty Tamlyn, Jud Clements, Trent Agnew, Robby Rieke, Stephen Bailey and John Rogers led the HFF investment sales team representing the seller.
AUSTIN, TEXAS — A10 Capital has funded a $4.6 million bridge loan to fund the refinance of two medical office buildings in Austin. The commercial mortgage is secured by the two Class B buildings and provided 65 percent leverage. Dennis Williams of NorthMarq Capital arranged the financing. The bridge loan was structured on a non-recourse basis and proceeds were used to fund the refinance of a mature CMBS loan as well as provide committed funds to facilitate the future lease up of the property.
HOUSTON — Morgan plans to start construction during the first quarter of 2016 on its latest Pearl luxury apartment project in Houston’s Midtown district. The eight-story complex will include apartments above a Whole Foods Market. The upcoming development is located in the 3100 block of Smith across the street from Morgan’s Pearl Midtown midrise that opened last summer. Ziegler Cooper is the project’s architect. The new apartment complex will feature 260 studios, one- and two-bedroom units. Amenities will include Bluetooth sound systems, a sky lounge, fitness center and pool. The Whole Foods Market store will be 40,000 square feet, with a second floor mezzanine for seating. Pearl will include components of Morgan’s LiveWell program, which focuses on providing a healthy and comfortable apartment lifestyle for residents of its Pearl branded projects.
HOUSTON — Lloyd Jones Capital has opened a new office in Houston to serve the Houston and San Antonio markets. Headquartered in Miami, the company specializes in multifamily investment in Florida, Texas and South Carolina. This is the company’s second Texas office. The Dallas/Fort Worth office opened earlier this year. Located at 2929 Allen Parkway, Suite 200 in Houston, the new office will house two vice presidents of investments, Fin Erwin and Fernando Zamarripa, whose responsibilities will be to identify, acquire, underwrite and manage the company’s multifamily investments.