IRVING, TEXAS — Panther FW Investments, in partnership with a local multifamily investment group, has sold two apartment complexes totaling 576 units. Glen Arbor and Westgate Apartments are located next to each other at Belt Line Road and William Dehaes Drive in Irving. Panther owned the properties for the last three years, during which time it made capital improvements and upgraded the interiors with the goal of increasing rental revenue. Taylor Snoddy of Transwestern represented the seller.
NORMAN, OKLA. — Virtus Real Estate Capital, a real estate private equity firm, and Aspen Heights, a student housing development and management company, have partnered to develop a 684-bed cottage-style student housing community near the University of Oklahoma. Construction has begun on the complex, which will be completed in August 2015.
ADDISON, TEXAS — Veriten Solutions LLC will relocate its headquarters by the end of 2014 to Marsh Business Park East in Addison. The company will move into a 12,237-square-foot property located at 3752 Arapaho Road, one of six buildings in the 179,739-square-foot business park. The park is 88 percent occupied. Veriten, a technology company focused on enterprise application design and development services, is currently headquartered at another location in Addison. Jason Miller and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, P7/Sealy Marsh Arapaho Owner LP.
SAN ANTONIO — Cleveland Construction Inc. has completed a new Candlewood Suites hotel at Fort Sam Houston in San Antonio. The 153,685-square-foot, 310-unit hotel is the largest Candlewood Suites hotel in the world. It is part of the Privatization of Army Lodging (PAL) program, an Army-led program aimed at revitalizing on-post lodging facilities for soldiers, their families and other government travelers. The new hotel is five stories tall with amenities including a swimming pool, patio pavilion, business and fitness centers, guest laundry facilities, a breakfast bar and on-post shuttle services.
OKLAHOMA CITY — ARA has brokered the $37.3 million sale of Liberty Pointe, a 324-unit apartment complex located southwest of Tinker Air Force Base, the second-largest military air depot I the United States. Weidner Apartment Homes, a privately held real estate company founded in 1977, is the buyer. The company owns 216 apartment complexes in the U.S. and Canada. Oklahoma City-based Dick Tanenbaum completed Liberty Pointe in 2013. Amenities include granite countertops, brushed nickel hardware and hardwood floors.
FORT WORTH — Dougherty Mortgage LLC has arranged a $3.5 million Fannie Mae loan for the acquisition of Monterrey Apartments and Townhomes, a 105-unit apartment complex located in Fort Worth. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Dallas office arranged the loan for the borrower, TS Asset Monterrey LLC. The property is located near downtown Fort Worth and includes amenities such as a swimming pool and on-site laundry facilities.
FORT WORTH — CBRE has brokered the sale of Hulen Pointe Shopping Center in Fort Worth. Bo Avery of TriMarsh Properties purchased the retail center from Austin-based Wes Walters Realty Inc. Hulen Pointe is comprised of four buildings totaling 174,783 square feet and is 48 percent occupied by a combination of national, regional and local tenants. Anchor tenants include Dollar Tree, Dickey’s BBQ, State Farm Insurance and Great Clips.
BUDA, TEXAS — Lee & Associates has negotiated the lease of a 24,000-square-foot industrial building located at 199 Park 35 Cove N. in Buda, a suburb of Austin. Reed Parker and Tom Walrich of Lee & Associates’ Dallas/Fort Worth office represented the buyer, The CounterSource, a supplier of custom fabrication and counter top surfaces. Thomas Rhodes with Century 21 Randall Morris & Associates represented the seller, Prisma Properties.
AUSTIN — Marcus & Millichap has arranged the sale of Shops at Grandview Hills, a 15,400-square-foot retail property in Austin. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a limited liability partnership. Buckner and Mireles also secured the buyer, a limited liability company. Shops at Grandview Hills is located at 7814 N. Ranch Road 620 in Austin. The property was built in 2006 and sits on 2.8 acres in northwest Austin.
SUGAR LAND, TEXAS — A second SurePoint self-storage facility is set to be built in metro Houston. The new location will be located on a 2.3-acre property near the intersection of the Grand Parkway and Highway 59 in Sugar Land. This will be SurePoint’s second location in the Houston market. The planned four-story building with 123,000 square feet of rentable space will begin construction in early 2015. SurePoint, which has five locations open in the San Antonio area, also has a location in the Houston suburb of Cypress under contract. Construction on that project is set to begin later this year. Houston developer Bobby Grover is partnering with SurePoint’s Brian Cisarik, Robert Loeb and Jeff Bailey on the developments.