Texas

CBRE Arranges Sale of Two Apartment Complexes in Dallas

by Haisten Willis March 27, 2015

DALLAS — CBRE Capital Markets has arranged the sale of Chapel Brook Apartments in northeast Dallas and Crosswinds Apartments in west Dallas. In a double tax exchange, Crosswinds Estates LLC purchased Chapel Brook from Santa Barbara, Calif.-based EXC Ventures LLC, while EXC Ventures LLC purchased Crosswinds Apartments from Crosswinds Estates LLC. Chris Deuillet of CBRE represented both sellers. Chapel Brook Apartments is a 204-unit community at 9765 Webb Chapel Road in the Bachman Lake area. It was constructed in 1969 and is 93 percent occupied. Crosswinds Apartments is a 48-unit, value-add community at 515 W. 10th St. in the Bishop Arts District. It was constructed in 1964 and is 96 percent occupied.

March 27, 2015

Syndicate Fund Purchases Burleson Retail Center in Metro Dallas

by Haisten Willis March 27, 2015

BURLESON, TEXAS — Bloomfield Frontline Burleson Retail LLC has purchased a 17,860-square-foot shopping center located at 1055 SW. Wilshire Blvd. in Burleson. The company is a syndication partnership set up by managing partners Steve Fithian and Thomas Wilson. Clint Montgomery of Sperry Van Ness/Visions Commercial represented the seller, SPCP Group VI LLC. Built in 2008 on 2.3 acres, the retail center is located in the main Burleson retail corridor, adjacent to a Walmart. Tenants include CATO Fashions, Shoe Show, Fred Loya & Rodney D. Young Insurance, World Finance Corp. of Burleson and Perla Dental. The property was purchased through a real estate syndication set up by Fithian and Wilson.

March 27, 2015

Multifamily Texas

ARA Newmark Arranges Sale of 195-Unit Apartment Complex in Austin

by Haisten Willis March 27, 2015

AUSTIN, TEXAS — ARA Newmark has arranged the sale of a 195-unit apartment community located in the south central submarket of Austin. New York-based Clarion Partners sold Platinum Southside to FrontRange Capital Partners, a Denver, Colo.-based private equity firm that focuses on investments in both real estate and business operations. The property was 95 percent occupied at the time of sale. Platinum Southside was built in 2009. Layouts range from one-bedroom to two-bedroom designs. Amenities include a clubhouse, café with WiFi, billiards, business center, pool, grilling stations and picnic areas. Patton Jones of ARA Newmark represented Clarion Partners in the sale.

March 27, 2015

Office Texas

JLL Arranges Sale of Ashford Place II and III in Houston

by Haisten Willis March 26, 2015

HOUSTON — JLL has arranged the sale of Ashford Place II and III, two Class B properties in Houston’s energy corridor. The Mission Cos. purchased the properties for an undisclosed amount. The company also owns two buildings adjacent to Ashford Place II and III. The purchase raises The Mission Cos.’ total investment in the energy corridor to 12 acres. Rudy Hubbard, Kevin McConn and Rick Goings led the JLL team representing the seller, Insite Realty, in the transaction. Ashford Place II is a 58,730-square-foot office building located at 950 Threadneedle St. Ashford Place III is an 84,775-square-foot office building located at 14800 St. Mary’s Lane. The properties were built in 1977 and 1978, respectively, and underwent a $3.2 million capital improvement program in 2008. The properties each offer access to I-10, Beltway 8, Houston’s central business district, Memorial City, Westchase, CityCentre and both major airports. The Mission Cos. is an integrated full-service group of companies involved in the development, acquisition, management and leasing of office buildings and medical buildings in Houston and the surrounding communities.

March 26, 2015

Industrial Office Texas

NAI Partners Arranges Sale of 15,000SF Office/Warehouse Space in Houston

by Haisten Willis March 26, 2015

HOUSTON — NAI Partners has arranged the sale of a 15,000-square-foot office/warehouse space at 16130 Hollister Road in Houston. Donald C. Smith purchased the property. Darren O’Conor of NAI Partners represented Donald C. Smith, while Robert McGee, Thomas Leger and Chase Cribbs of TNRG represented the seller, Hightower Investments Ltd., in the transaction.

March 26, 2015

Multifamily Texas

CBRE Arranges Agency Debt, Equity For Acquisition of Two Apartment Complexes in Dallas

by Haisten Willis March 26, 2015

DALLAS — CBRE Capital Markets’ Debt & Structured Finance group in Dallas has arranged acquisition financing for a two-property multifamily portfolio in Dallas. CBRE, working on behalf of CAF Capital Partners, obtained a 10-year Freddie Mac loan coupled with a preferred equity investment by an affiliate of Highland Capital Management LP to finance the property. CBRE also introduced Button Capital as the joint venture equity partner. Originally built in 1996 and 1998, Emory at Horizon North and Ashmore at Horizon North includes 712 units, and fronts The President George Bush Turnpike, west of The Dallas North Tollway. CAF and Button plan to continue current renovations to further capitalize on the north Dallas apartment market. Brian Myers, Jay Wagley, Mike Bryant, Chris Wong and Harry Krieger led CBRE’s debt and structured finance team that originated and secured the financing on behalf of CAF Capital Partners.

March 26, 2015

Restaurant Retail Texas

Cyclone Anaya’s Mexican Kitchen, Nick’s Fish Dive & Oyster Bar to Open in The Woodlands

by Haisten Willis March 26, 2015

THE WOODLANDS, TEXAS — Cyclone Anaya’s Mexican Kitchen and Nick’s Fish Dive & Oyster Bar will open at 20 Waterway Ave. in The Woodlands. Cyclone Anaya’s Mexican Kitchen has leased 4,222 square feet for a Mexican food restaurant with an expected opening date set for the beginning of April. Nick’s Fish Dive & Oyster Bar has leased 3,568 square feet for its new restaurant. Nick’s is anticipated to open in April. The corporate offices of Cyclone Anaya represented the restaurant in the transaction, while AM Restaurant Inc. and Claudia Leonardo represented Nick’s Fish Dive & Oyster Bar. Rip Reynolds of The Howard Hughes Corp., represented The Woodlands Development Co. in both leases.

March 26, 2015

Multifamily Texas

Berkadia Arranges Sale of Multifamily Property in San Antonio

by Haisten Willis March 26, 2015

SAN ANTONIO — Berkadia has arranged the sale of Sun Park Apartments, a multifamily property located in San Antonio. Mike Miller, Chris Ross, Will Caruth and Cody Courtney of Berkadia’s San Antonio office negotiated the sale. Sun Park Apartments was built in 1985 and is located at 1830 Bandera Road. The fully occupied, 334-unit property features studio, one- and two-bedroom units, with amenities including kitchens, pantries, walk-in closets as well as balconies or patios. Select units include two-tone paint, vaulted ceilings and pool views. Community amenities include a swimming pool, spa, barbeque area, clubhouse, playground, fitness center, sports courts, gazebos, carports and controlled-access gates. A private investor from San Diego purchased the property. A private investor from Los Angeles was the seller.

March 26, 2015

Hospitality Texas

HFF Arranges Sale, Secures Financing for Westin Dallas Park Central Hotel

by Haisten Willis March 25, 2015

DALLAS — HFF has arranged the sale of and secured acquisition financing for the Westin Dallas Park Central, a 536-key hotel in central Dallas. HFF marketed the property on behalf of the seller, a joint venture between FelCor Lodging Trust Inc. and Starwood Hotels & Resorts Worldwide Inc. A partnership between Building and Land Technology and AWH Partners LLC purchased the offering. Additionally, working on behalf of the buyers, HFF secured floating-rate financing for the acquisition and renovation of the property. The 20-story hotel is situated on 3.6 acres at 12720 Merit Drive within the Park Central mixed-use development, which includes three LEED Gold-certified office towers and more than 845,000 square feet of Class A office space. The Westin-branded hotel features 42,000 square feet of flexible indoor function space that includes a 15,050-square-foot grand ballroom, 5,745-square-foot penthouse venue, Café on the Park restaurant, a gym, 24-hour business center, heated rooftop pool and sundeck. Brian Carlton led the HFF debt placement team representing the buyer.

March 25, 2015

Retail Texas

Baceline Buys Dakota Plaza Retail Center in Austin, Texas

by Haisten Willis March 25, 2015

AUSTIN, TEXAS — Baceline Investments LLC, a private equity real estate investment and management company, has acquired Dakota Plaza, a retail center in Austin. Baceline purchased Dakota Plaza, a 21,700-square-foot retail center constructed in 2006, from Colorado-based Western Dakota LLC. Located at 8516 Anderson Mill Road, Dakota Plaza serves as the only neighborhood shopping center in the immediate area.

March 25, 2015

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