SAN ANTONIO — Dougherty Mortgage has brokered a $4.2 million Fannie Mae loan for the acquisition of Windsor Village Apartments, a 124-unit multifamily housing property located at 5341 Gawain Drive in San Antonio. The complex features one- and two-bedroom units with a community pool and clubhouse. The 10-year term, 30-year amortization loan includes one year of interest-only payments. Dougherty’s Dallas office arranged the loan for the borrower, 5341 Gawain LLC.
Texas
HOUSTON — HFF has arranged the sale of 3040 Post Oak Blvd., a 427,486-square-foot, Class A office building in Houston. HFF marketed the property on behalf of the seller, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners. MetLife Real Estate Investors purchased the property for an undisclosed amount. The property is located at the intersection of Post Oak Boulevard and Hidalgo in Houston’s Galleria/Uptown district. The 22-story building is part of the 1.2 million-square-foot Lakes at Post Oak office complex. Jeff Hollinden, Dan Miller and Trent Agnew with HFF represented the seller.
HOUSTON — Morgan has completed construction on Pearl Midtown, a midrise apartment project in Houston. The property sits on 1.2 acres at 3101 Smith St. in the city’s Midtown district. Wallace Garcia Wilson is the project’s architect. Pearl Midtown contains 154 apartments ranging from 499 to 1,439 square feet with a mix of studio, one- and two-bedroom units. Amenities include a business center, gym and swimming pool.
DENTON, TEXAS — Marcus & Millichap has arranged the sale of two hospitality properties in Denton. The properties are the 88-room La Quinta Inn & Suites and the 92-room Holiday Inn Express & Suites. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a Dallas-based company. A Dallas-based private individual purchased the property. La Quinta is located at 4465 I-35. Holiday Inn is located at 4485 N. I-35.
SAN ANTONIO — Tryperion Partners has acquired Gateway Plaza, a 97 percent occupied, 138,510-square-foot shopping center anchored by Burlington Coat Factory. The center is located at the intersection of I-35 and Loop 1604 in San Antonio’s Northeast submarket. The acquisition also includes land for future development.
AUSTIN — Muskin Commercial LLS has arranged the sale of the 124-unit Summer Grove Apartments located at 7905 San Felipe Blvd. in northwest Austin. Summer Grove sits on 5.4 acres and was acquired by a private investment group from Chicago. Ellen Muskin and Daniel Elam with Muskin Commercial represented the seller, California-based CREVI II Summer Grove LLC. The apartments consist of 68 one-bedroom units and 56 two-bedroom units. There are eleven buildings on-site with amenities including a pool and clubhouse. Roscoe Properties, of Austin, will manage the property.
OKLAHOMA CITY — Virtus Real Estate Capital, a real estate private equity firm based in Austin, has acquired a self-storage facility in Oklahoma City. The company has acquired Pro Storage, Virtus’ seventh acquisition in the Oklahoma City area since 2012. The purchase is the second in the firm’s joint venture partnership with Advantage Self-Storage. Pro Storage is a 65,475-square-foot Class A facility with 516 units. It was 94 percent occupied at the time of sale. Virtus plans to expand the building by 15,000 square feet, adding 124 units by the second quarter of 2015.
AUSTIN — Berkadia Commercial Mortgage’s Austin office has originated $20.3 million in financing for a multifamily property in Austin. Senior vice president Andy Hill worked with borrower Atlantic Pacific Cos. to arrange the seven-year, fixed-rate loan through Berkadia’s Freddie Mac program. The borrower will use the loan for the refinancing of Atlantic Grand Oaks, a 240-unit unit property 10 miles southwest of downtown Austin. Loan terms include an interest rate below 4 percent and a 30-year amortization schedule. Atlantic Grand Oaks is located at 9323 Manchaca Road in Austin. The complex consists of studio, one-, two- and three-bedroom units. Amenities include a pool, volleyball and basketball courts, playground and fitness center.
SEGUIN, TEXAS — Mason Joseph Co. Inc., a San Antonio-based FHA multifamily lender, has arranged the refinancing of Oak Hollow Apartments, a 152-unit apartment complex in Seguin, 36 miles northeast of San Antonio. Mason Joseph obtained a new insured mortgage of $11 million with a 40-year term and amortization schedule. The borrower is Wonder Properties LLC, a Seguin-based private investment firm. The complex was built in 2012 with amenities including a clubhouse, business and fitness centers, volleyball court pool and outdoor kitchen.
HOUSTON — Marcus & Millichap has arranged the sale of Christian Brothers Automotive, a 4,921-square-foot, net-leased property in Houston. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino also represented the buyer, a local private investor. Farhan Kabani, of Mark One Capital’s Dallas office, arranged financing. The loan was structured with a 10-year term amortizing over 25 years with a fixed rate of 4.25 percent. Christian Brothers Automotive is located at 7937 Westheimer Road in Houston.