SAN ANTONIO — FelCor Lodging Trust Inc. has sold its 261-room Embassy Suites Hotel – San Antonio Airport for $29.5 million. FelCor will use the proceeds from selling this hotel to repay outstanding debt. Since 2010, FelCor has sold 35 non-strategic hotels for aggregate gross proceeds of $794 million.
MAGNOLIA, TEXAS — Mr. Handyman, a home repair and maintenance company, has opened a new office in Magnolia. The new, 1,540-square-foot space is located at 32914 Tamina Road. John Wenckens and Ryan Dierker with Newcor Commercial Real Estate represented the tenant, Mr. Handyman, in the transaction. Chuck Mack represented the landlord, Monarch Property Management.
EL PASO, TEXAS — CBRE Capital Markets has arranged the sale of a 42,750-square-foot, three-story medical/oncology facility in El Paso. El Paso-based Verchel Medical Properties purchased the facility from PlainsCapital Bank for an undisclosed price. The facility is located at 4532 N. Mesa St. on the western side of El Paso, and is within six miles of 14 hospitals and ambulatory surgery centers. The vacant property comes furnished with fixtures and equipment. The asset was built in 2009 on three acres, and includes a covered patient drop-off area, a retail-style pylon sign and available building signage. It was also designed to accommodate high patient volumes. Scott Herbold of CBRE Investment Properties | Healthcare, and William Caparis, SIOR, of CBRE’s El Paso office, represented the seller.
AUSTIN, TEXAS — KeyBank Real Estate Capital has secured a $23.1 million Fannie Mae loan for Lakeshore Pearl, a multifamily apartment complex located in Austin. The 230-unit, mid-rise apartment complex was built in 2013. Chris Black of Key’s commercial mortgage group arranged the financing, which was used to acquire the property, for the undisclosed borrower.
DALLAS — Venture Commercial Real Estate has arranged the lease of an 11,400-square-foot space in Dallas’ Design District. Paul Morgan Photography Inc. will occupy the space located at 921 N. Riverfront Boulevard. McGregor Converse of Venture represented the tenant in lease negotiations. John Bowles of CASE Commercial Real Estate Partners represented the landlord. Photography business Paul Morgan and People relocated its media studio and corporate office to this location from 333 1st Ave. in Deep Ellum.
AUSTIN, TEXAS — Muskin Commercial has arranged the sale of Anderson Oaks Apartments in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, a California-based investor, in the transaction. An undisclosed buyer purchased the property. Anderson Oaks is located at 9219 Anderson Mill Road in northwest Austin. Renovations were made to 24 units at the property. Amenities at the community include a swimming pool, a management office and business center and an on-site laundry facility. Arbor Property Management of Austin will continue to manage the property.
HOUSTON — LMI Capital has arranged loans for three properties in Houston. In the first transaction, Brandon Brown of LMI Capital arranged $4.3 million in debt for the refinance of two Class A, boutique multifamily assets in the Spring Branch submarket. The 10-year, fixed-rate loans both loans feature 4 percent interest rates and 30-year amortization schedules. In the second transaction, Brown arranged $8.4 million in debt for the refinance of a 124-unit seniors housing complex in Missouri City. The 10-year, fixed-rate CMBS loan will provide cash out proceeds to the client. The loan represented a 75 percent loan-to-value ratio and included a 30-year amortization schedule. In the third transaction, Jamie Stein of LMI Capital arranged $6.5 million in financing for a garden-style apartment complex in the Spring Branch submarket. Stein secured a 10-year, fixed-rate loan inclusive of a capital improvements component with a CMBS lender. The mortgage includes three years of interest-only payments.
AUSTIN, TEXAS — Under Armour has opened its Connected Fitness digital headquarters in downtown Austin. The new facility is located within a new commercial development near the restored City of Austin Power Plant. The office currently employs more than 100 engineers, data scientists, designers and product designers in digital health, fitness and sports. The building spans more than 35,000 square feet and occupies the second floor of the adjacent building to the City of Austin Power Plant. The five acres surrounding the office are being transformed into a mixed-use development, which will feature more than one acre of public open space and a plaza; a 30-story residential tower and 33,000 square feet of retail space. This is the first Under Armour office in Texas, and the only office in the brand’s history solely dedicated to digital innovation. The Under Armour Connected Fitness team will focus on building the company’s digital products.
HOUSTON — Boyd Commercial/CORFAC International has arranged several real estate transactions for The Detering Co., including the relocation of the firm’s offices. The Detering Co. has relocated from Washington Avenue to a new, 107,000-square-foot facility located at 6800 Helmers St. The property is situated on a 19-acre site located near Loop 610 North in Houston. J. Michael Boyd of Boyd Commercial LLC/CORFAC International represented The Detering Co. in the move and several other deals, which took over two years to orchestrate. The transactions included the sale of three parcels of land, the purchase of two parcels of land and a build-to-suit of an office and warehouse facility. The Detering Co., a building materials supply company, formerly occupied more than five acres and 70,000 square feet at its former headquarters located at 3028 Washington Ave. Detering’s new headquarters fronts Irvington and Bennington Streets as well as Helmers. The property includes a 16-acre site acquired from Quasar Land Ltd., and a three-acre site acquired from Irvington Holdings LLC. A new 107,000-square-foot built-to-suit facility was recently completed and opened at the company’s new headquarters. Detering demolished a building on the property it acquired to make room for the new building. In addition, Detering …
HOUSTON — Moody Rambin has arranged the sale of a 2,553-square-foot office building in Houston. The property is located at 9525 Huffmeister Road at the northwest part of Houston off Highway 290. Jim Autenreith and Dan Nguyen of Moody Rambin represented the buyer, Sawin Service Automation Inc., in the sale. Leighton Investments LLC was the seller.