PLANO, TEXAS — HFF has arranged financing for The Preserve at Arbor Hills in Plano. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual. Loan proceeds were used to acquire the property. The Preserve at Arbor Hills is located at 7001 W. Parker Road next to the Arbor Hills Nature Preserve and 21 miles north of downtown Dallas. The property is 97 percent leased and includes 330 one-, two- and three-bedroom units averaging 1,006 square feet. The complex was built in 1998. Amenities include a pool, spa, gym, picnic areas, business center and coffee bar. John Brownlee led the HFF team representing the borrower.
Texas
HOUSTON — Boyd Commercial/CORFAC International has completed a trio of transactions for Jetco Delivery Inc., a trucking and logistics company. The transactions include the acquisition of a new property, sale of an existing property and lease of a third property. Bo Pettit and David Boyd of Boyd Commercial arranged the transactions for Jetco, which has been on an extended search for the right place to expand and consolidate their business. Upon completion, the company’s new headquarters, located at 3010 Aldine Bender drive in Houston, will have 30,000 square feet of office, warehouse and truck maintenance space.
COPPERAS COVE, TEXAS — Dougherty Mortgage LLC has arranged a $1.5 million Fannie Mae loan for the refinancing of Brookview Village, a 96-unit multifamily affordable housing property in Copperas Cove, near Fort Hood in central Texas. The complex offers one- and two-bedroom floor plans for seniors aged 55 or older. Dougherty’s Austin office arranged the 15-year loan with a 30-year amortization schedule for the borrower, Copperas Cove Brookview Village Apartments LP.
DALLAS — StreetLights Residential and Stonelake Capital Partners plan to build a Class A apartment complex at 1000 Singleton Blvd. in west Dallas near the road’s intersection with Sylvan Avenue. The development will be the first phase of Trinity Village, a 25-acre urban residential district. The property currently is used for industrial purposes including trailer parking and repair. The complex is within walking distance of Trinity Groves, which includes restaurants, retail and entertainment venues. The first phase of Trinity Village will consists of 300 apartments and is expected to be complete in the summer of 2016.
DALLAS — Institutional Property Advisors has arranged the sale of Advenir at Foxmoor, a 495-unit apartment complex in Dallas. Will Balthrope and Drew Kile of IPA represented the seller in the transaction and procured the undisclosed buyer. The property was built in 1974 on 11 acres, with nearly 800 feet of frontage along Highway 75. Advenir at Foxmoor is less than eight miles north of the Dallas Central Business District.
HOUSTON — Christopher Dray of Moody Rambin represented C&C Acquisitions LLC in the sale of a 2,500-square-foot office building located at 626 W. 19th St. in Houston. The property listed at $700,000 and was sold to TMB Real Estate LLC. Tony Pour of Greenpark Realty Advisors represented TMB.
HURST, TEXAS — Marcus & Millichap has arranged the sale of Melbourne Shopping Center, a 6,820-square-foot retail property located in Hurst, one of the mid-cities between Dallas and Fort Worth. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy also represented the buyer, another private investor. Melbourne Shopping Center is located at 805-813 Melbourne Road. The property was 84 percent occupied at the time of sale and all leases are triple-net. The building was constructed in 1979 on 1.1 acres. Tenants include Payless ShoeSource, Texas Mini Mart and Model Nails.
DALLAS — Rochon Family Office has signed a 9,446-square-foot lease with Dallas-based Harwood International. Rochon is moving its headquarters to the penthouse of the Frost Tower, which is scheduled to open in the spring of 2015. Jihane Boury and David Roehm of Harwood International worked on the lease along with Randy Cooper and Charlie Morris of Cassidy Turley and Ryan Mack of Rochon. The company is privately held, with operations in 40 countries.
CROWLEY, TEXAS — Marcus & Millichap has arranged the sale of All Star Self Storage, a 57,625-square-foot self-storage facility located in Crowley, just south of Fort Worth. Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr also secured the buyer, a limited liability company. All Star Self Storage is located at 786 FM 1187 East. The property consists of 224 climate-controlled units, 214 drive-up units and two uncovered parking spaces on 3.8 acres. It was built in 2007 and was 78 percent occupied at the time of sale.
CARROLLTON, TEXAS — Lee & Associates has completed a lease renewal for a 127,506-square-foot industrial space at 1440 Lemay Drive in Carrollton, just north of Dallas. Adam Graham and Nathan Denton of Lee & Associates represented the landlord in the transaction. Carter Fournier of Concord Interest represented the tenant, SWS Re-Distribution Company Inc., a distributor of sanitation and housekeeping products.