FORT WORTH — Marcus & Millichap has arranged the sale of Travis Gardens, a 77-unit apartment property located in Fort Worth. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, NSpire Assets. Silva also secured the buyer, a private investor. The new owner assumed an existing Fannie Mae loan to acquire the property. Travis Gardens is located at 2901 Travis Ave. and is near Texas Christian University and JPS Hospital.
HOUSTON — Angelic Real Estate has arranged financing for the sale of 4801 Woodway, a 220,583-square-foot office building in Houston’s Galleria submarket. The building was 48 percent occupied at the time of the acquisition and is in the middle of a renovation. The property was purchased from a special servicer, having been foreclosed on from a previous tenant in common ownership.
WICHITA FALLS, TEXAS — Marcus & Millichap has arranged the sale of Crossroads Center, an 85,385-square-foot retail property in Wichita Falls. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a partnership. Chance Hales of the firm’s Fort Worth office represented the buyer, a limited liability company. Crossroads Center is located at 2708 Southwest Parkway. The property sits on 7.8 acres with 450 feet of street frontage.
LEWISVILLE, TEXAS — Bright Realty has brokered the sale of the company’s former headquarters located at 4228 N. Central Expressway in Lewisville, a Dallas suburb. The four-story mid-rise, known as the Bright Building, spans 54,000 square feet with three levels of underground parking. Nathan Denton of Lee & Associates represented the buyer, Caddo Holdings, in the transaction. Shawn Hall of Bright Realty worked on behalf of the seller. The building is located on the east side of Central Expressway and served as the corporate headquarters of Bright Realty for more than 12 years. The company relocated to a brand-new office in Castle Hills, a master-planned community in Lewisville developed by Bright Realty in 2013.
AUSTIN — BMC Capital’s Austin office has arranged a $1.9 million loan for the acquisition of a 42-unit apartment complex in Austin. The seven-year, fixed-rate loan includes a 4.75 percent interest rate and a 30-year amortization schedule. Patrick Short of BMC’s Austin office arranged the loan through a local bank.
LEWISVILLE, TEXAS — Realty Capital Management has arranged the sale of 4.3 acres in the Dallas suburb of Lewisville to The Door Church. The church will be moving from its current location in Coppell and building a new worship center to accommodate its growth. Mark Boone of Realty Capital Management represented the unnamed seller in the transaction. John Muzyka of Service Realty represented the buyer.
HOUSTON — Grandbridge Real Estate Capital has arranged construction financing for The Hamilton Apartments, a planned complex in Houston’s central business district, on behalf of a local partnership. Gill Dolan of Grandbridge originated the transaction. The Hamilton Apartments will be located at the southern end of downtown Houston. The complex will feature 148 units with five stories of residential units over a two-story parking garage.
ORANGE, TEXAS — Marcus & Millichap has arranged the sale of Affordable Storage, a 23,340-square-foot self-storage facility located in Orange. Danny Cunningham and Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Cunningham also secured the buyer, another private investor. Affordable Storage is located at 19238 Texas 62. The property was built in 2003 and was expanded in 2004 and 2005. The property features a manager’s office, perimeter fencing and lighting, garage-style roll up doors, personalized keypad entry, video surveillance and concrete driveways. Affordable Storage is comprised of 124 climate-controlled units, 9 enclosed RV parking units and 5 covered RV parking spaces. It is 91 percent occupied.
PLANO, TEXAS — In a joint venture, Olympus Property and Artemis Real Estate Partners have acquired Legends at Ridgeview Ranch, an apartment complex in Plano. The property is a Class A, 480-unit community built in 1999. It sits on 34 acres along the Ridgeview Ranch Golf Course near Legacy Business Park. The joint venture plans to spend about $2 million to complete an interior renovation and to enhance common areas. Olympus Property will manage the property.
ODESSA, TEXAS — Homewood Suites by Hilton has opened a new hospitality property in Odessa. The four-story hotel is owned by HWODS Property and features 121 suites. This is the 50th Homewood Suites in Texas. The property is located at 7221 Tres Hermanas Blvd. just off Highway 191 in Parks Legado Town Center. The hotel is located near the University of Texas of the Permian Basin, Midland International Airport and the Ector County Coliseum.
