PEARLAND, TEXAS — Marcus & Millichap has arranged the sale of Pearland Boat & RV Storage, a 97,560-square-foot self-storage facility located in Pearland. Dave Knobler and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based private investor. Roger Hendricks of the firm’s Dallas office represented the buyer, a limited liability company. Pearland Boat & RV Storage is located at 3600 Old Chocolate Bayou.
SAN ANTONIO — Capital One Multifamily Finance has provided a $63.3 million fixed-rate Freddie Mac loan for the acquisition of Artessa at Quarry Village, a 280-unit luxury apartment community in San Antonio. Brian Sykes of Capital One originated the transaction. Intercontinental Real Estate purchased the property and granted Capital One the rights to represent Freddie Mac. Completed in 2009, Artessa is located in Alamo Heights, located six miles from downtown San Antonio. Artessa offers one-, two-, and three-bedroom units, and was 95 percent occupied as of October 2014. The property features ground-floor retail space, which includes 27 retail suites. The fixed-rate loan has a 10-year term with 10 years of interest-only payments.
HOUSTON — NAI Partners has arranged the lease of 4,000 square feet of office space at 1500 S. Dairy Ashford in Houston. Drew Crawford of NAI Partners represented the landlord, Aque Investment Group, while Wyatt McCulloch and Lucian Bukowski o CBRE represented the tenant.
ROCKWALL, TEXAS — Vanguard Real Estate Advisors, a Dallas-based real estate advisory firm, has arranged the sale of the Rockwall Commons office building. The property is located in the Dallas suburb of Rockwall. Jordan Cortez of Vanguard marketed the asset on behalf of an affiliate of the seller, Tabani Group. Bowman Investment Group LLC was the buyer. The Class A property was built in 2008 in conjunction with the Rockwall Commons mixed-use development, which includes a 202-unit luxury apartment community and retail suites located along Ridge Road, 1.5 miles north of I-30. The building was 100 percent leased at the time of sale to a mix of national and local tenants. The buyer assumed an existing CMBS loan as part of the transaction.
PFLUGERVILLE, TEXAS — The Boulder Group has arranged the $2.3 million sale of an Advance Auto Parts property located at 1313 FM 685 in Pflugerville, a suburb of Austin. The brand-new, 6,895-square-foot building is located across the street from a Walmart Supercenter. Advance Auto Parts has 15 years remaining on their absolute net lease, which features 9 percent rental escalations in each renewal option period. The buyer and seller were unnamed.
DALLAS —CBRE Group Inc. has acquired United Commercial Realty (UCR), a Dallas-based commercial real estate firm specializing in retail services. UCR manages retail properties for institutional investors and provides brokerage services for retailers. UCR was founded in 1988 and provides leasing, property management, asset management and investment sales services for retail investors and tenants. The company manages approximately eight million square feet of retail properties across the U.S. for institutional investors. In addition, UCR and its urban leasing division serve as leasing agents for 20 million square feet of shopping centers nationally. UCR represents more than 200 retailers and restaurants. As part of the transaction, CBRE is also acquiring UCR’s affiliate office in Austin. UCR’s staff of more than 100 will join CBRE.
SAN ANTONIO — Robert Faust Mortgage Co. has arranged an equity investment for the Twin Creeks Ranch apartment project in San Antonio. The project will be the first phase of a two-phase project. Phase I will span 300 units located on 17 acres at the southeast corner of Alamo Ranch Parkway and Lone Star Parkway, which is the main intersection into Alamo Ranch. This is one block west of Loop 1604 and U.S. Highway 151. The developer will be SWBC Real Estate, which is owned by Southwest Business Corp. Robert Faust Mortgage Co. has been active in providing financing in San Antonio for a number of years. This year the Dallas-based company celebrated 38 years in business. The first units should be completed in spring 2016.
ELIZABETH, N.J., AND FORT WORTH, TEXAS — Simon has closed on its acquisition of two retail centers in New Jersey and Fort Worth, Texas, for an aggregate purchase price of $1.09 billion, including the assumption of existing mortgage debt. The two properties were acquired in connection with the closing of Washington Prime Group’s acquisition of Glimcher Realty Trust. Located in Elizabeth, Jersey Gardens, which has been renamed The Mills at Jersey Gardens, features a variety of tenants, including Bed, Bath & Beyond; Century 21; Coach Factory; Forever XX1; Lord & Taylor Outlet; Michael Kors; Neiman Marcus Last Call; Nike Factory Store; Saks Fifth Avenue Off 5th; and AMC Theatres. University Park Village in Fort Worth is tenanted by Ann Taylor, Anthropologie, Apple, Athleta, Banana Republic, Chico’s, Free People, J. Crew, Lululemon Athletica, Madewell, Michael Kors, Pottery Barn, Talbots, Vera Bradley, White House | Black Market, and Williams-Sonoma.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Houston office has secured a $20 million, 15-year term loan for Sam Houston Business Park in Houston. The property is located at 8844-8850 N. Sam Houston Pkwy. Larry Peters of Q10 KDH arranged the transaction on behalf of the borrower, Levey Group. Levey Group is a family-owned industrial real estate development company specializing in offering office-warehouse facilities for sale or lease. Q10 KDH is a Texas-based commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.
MURPHY, TEXAS — Bright Realty brokered the sale of 1.3 acres in Murphy located on FM 544 in Murphy. Shawn Hall of Bright Realty represented the buyer, Jain Estates LLC, in the transaction. Doug Carignan of Jones Lang LaSalle represented the seller.
