Texas

Balfour Beatty to Develop New Student Housing for University of Houston-Victoria

by Haisten Willis March 12, 2015

VICTORIA, TEXAS — Balfour Beatty Campus Solutions has been selected to design, build and finance a $20 million on-campus housing project for the University of Houston-Victoria through a public-private partnership. KSQ Architects designed the new, 380-bed housing facility that will include two- and four-bedroom suites. The University of Houston System Board of Regents approved the project at its February board meeting and construction on the project is expected to begin in June for a scheduled delivery in August 2016. Dallas-based Balfour Beatty Construction, a residential and commercial construction firm and a sister division of Balfour Beatty Campus Solutions, is the construction partner on the project. Upon completion, the university will operate the housing. Balfour Beatty Campus Solutions is a developer and operator of infrastructure projects for the college and university market.

March 12, 2015

Loans Multifamily Texas

Q10 KDH Secures $4M Loan for Apartment Complex in Houston

by Haisten Willis March 12, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. has secured a $4 million fixed-rate loan for Forest Palm Apartments with correspondent lender, StanCorp. The Class A multifamily property was built in 2014 and includes 119 garden-style units across six two-story buildings. Q10 KDH is a Texas-based full service commercial mortgage banking company that arranges financing for developers and owners of commercial real estate. Ryan Watson of Q10 KDH arranged the transaction.

March 12, 2015

Retail Texas

Snap Kitchen Signs Lease at Retail Center in Metro Dallas

by Haisten Willis March 12, 2015

COLLEYVILLE, TEXAS — Snap Kitchen has signed a lease at the new 12,847-square-foot Colleyville Stampede shopping center development in Colleyville. The Austin-based retailer will occupy 1,305 square feet of space at 4712 Colleyville Blvd., Suite 140. Standridge Cos. is the developer of Colleyville Stampede. Snap Kitchen focuses on gluten-free, carb and sodium-conscious, nondairy, vegetarian, vegan and paleo diets. Tey Tiner of CBRE/UCR represented Standridge Cos. in lease negotiations. Alden Harris of Shop Companies represented Snap Kitchen.

March 12, 2015

Industrial Office Texas

NAI Partners Arranges 20,000 SF Office/Warehouse Facility Sale in Houston

by Haisten Willis March 12, 2015

HOUSTON — NAI Partners has arranged the sale of a 20,000-square-foot office/warehouse facility located at 13715 N. Promenade Blvd. in Houston. Chris Kugle of NAI Partners represented the seller, E & F Anaya Enterprises. Forbes Henderson of Delta Realty Inc. represented the buyer, Brance-Krachy Co. Inc.

March 12, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of 72-Unit Apartment Building in East Texas

by Haisten Willis March 12, 2015

NACOGDOCHES, TEXAS — Marcus & Millichap has arranged the sale of Woodland Trails, a 72-unit apartment property located in Nacogdoches. Scott Ogilvie and Robert Denninger of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Ogilvie and Denninger also procured the buyer, a limited liability company. Woodland Trails is located at 1410 Martinsville St. less than one mile southeast of Stephen F. Austin State University. Built in 1984, the Class B apartment community is situated on five acres. Woodland Trails consists of seven three-story buildings with 72 two-bedroom/two-bath units, all of which span 900 square feet. The asset is within walking distance to numerous retail businesses and restaurants such as Belk, Payless, Bath & Body Works, JCPenney, Subway, Dollar General, Aaron’s, Arby’s, CVS, Popeye’s, and Brookshire Brothers.

March 12, 2015

Office Texas

Newcor Commercial Arranges Sale of 13,000 SF Office Warehouse Building in Metro Houston

by Haisten Willis March 11, 2015

THE WOODLANDS, TEXAS — Newcor Commercial Real Estate has arranged the sale of a 13,000-square-foot office warehouse building in The Woodlands. The property is situated on two acres located at 33219 Forest West Drive near the intersection of FM 1488 and FM 2978. Rick Stallings of Keller Williams represented the buyer, Pilates Place. Rob Banzhaf and Krissie Vanyo of Newcor represented he seller, Zinterests LLC.

March 11, 2015

Loans Office Texas

CPR Money Provides $4.2M Acquisition Loan for Office Building in Houston

by Haisten Willis March 11, 2015

HOUSTON — CPR Money has provided a $4.2 million acquisition loan for a 16-story vacant office building in Houston’s central business district. During the loan term, the borrower will finalize pre-development plans for a conversion to a 154-room Hyatt Place Hotel, with construction expected to begin in nine to 12 months. The property is located near the George Brown Convention Center, Toyota Center, Minute Maid Park and the Houston Pavilions.

March 11, 2015

Multifamily Texas

Resource Real Estate Opportunity REIT Sells Apartment Complex in Houston

by Haisten Willis March 11, 2015

HOUSTON — Resource Real Estate Opportunity REIT Inc., a non-traded real estate investment trust sponsored by Resource Real Estate Inc., has sold Cityside Crossing Apartments in Houston. Opportunity REIT acquired the 360-unit multifamily residential community in December 2012. The property benefited from a value-add strategy, professional management and capital enhancements. As a result, the sale of Cityside Crossing produced a cash profit of $10.7 million, and an average annual return of 28.4 percent.

March 11, 2015

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $26.7 M Loan for Texas Long-Term Care Portfolio

by Haisten Willis March 11, 2015

COPPERAS COVE, HARKER HEIGHTS and KILLEEN, TEXAS — KeyBank Real Estate Capital has arranged a total of $26.7 million in FHA financing for a three-property, long-term care portfolio in Texas. Two of the properties are skilled nursing facilities and one is a combination skilled nursing and assisted living facility. The properties were built in the 1990s and have a combined total of 250 units and 418 beds. Allison Holland of KeyBank arranged the non-recourse, fixed-rate first mortgages for all three properties. The portfolio is comprised of Hill Country Rehab and Nursing Center located in Copperas Cove; Indian Oaks Living Center located in Harker Heights; and The Rosewood Retirement Community located in Killeen.

March 11, 2015

Retail Texas

M&M Brokers Sale of 26,273 SF Retail Property in Metro Dallas

by Haisten Willis March 10, 2015

FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Mustang Crossing, a 26,273-square-foot retail property located in Forney. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Wayne Bares also of the firm’s Dallas office, procured the buyer, a local partnership. Mustang Crossing is located at 724 E. Hwy 80. Built in 2011, the asset is 20 miles east of downtown Dallas and is surrounded by tenants including Walmart, Lowe’s, Chick-fil-A, Chili’s, GameStop, Starbucks and Wendy’s. At the time of listing, Mustang Crossing was 100 percent occupied.

March 10, 2015

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