Texas

StreetLights Residential Begins Construction on 20-Story Residential Tower

by Haisten Willis October 28, 2014

HOUSTON — StreetLights Residential has begun construction on a new 20-story residential tower known as The Carter. The property will sit on two acres between Montrose Street and Travis Street in the Houston Museum District, near Rice University and Herman Park. Gromatzky Dupree & Associates designed the building. The Carter will include 305 one-, two- and three-bedroom units along with townhouse and penthouse options. Amenities will include 10-foot ceilings, keyless entry systems, stone countertops and stainless steel appliances. The community will also feature a swimming pool, fire pits, private game room, gym, outdoor covered dog park, Wi-Fi, private garages and electric car charging stations. The property is scheduled for completion in late 2017.

October 28, 2014

Grandbridge Arranges $12M Loan for Seniors Housing Acquisition

by Haisten Willis October 28, 2014

GRAPEVINE, TEXAS — Grandbridge Real Estate Capital has arranged a $12 million permanent, fixed-rate loan secured by Dancing River of Grapevine. BB&T Real Estate Funding provided funding for the acquisition. The seven-year loan includes a 30-year amortization schedule with two years of interest-only payments. Dancing River of Grapevine is an 81-bed seniors housing complex with a mix of assisted living and memory care units. Amenities include an on-site salon, spa with massage services, library, fitness classes and private dining. Richard Thomas of Grandbridge originated the transaction for the undisclosed borrower.

October 28, 2014

Multifamily Texas

Panther FW Investments Sells Apartment Complexes in Metro Dallas

by Haisten Willis October 28, 2014

IRVING, TEXAS — Panther FW Investments, in partnership with a local multifamily investment group, has sold two apartment complexes totaling 576 units. Glen Arbor and Westgate Apartments are located next to each other at Belt Line Road and William Dehaes Drive in Irving. Panther owned the properties for the last three years, during which time it made capital improvements and upgraded the interiors with the goal of increasing rental revenue. Taylor Snoddy of Transwestern represented the seller.

October 28, 2014

Multifamily Student Housing Texas

Virtus and Aspen Heights to Develop Student Housing Complex in Oklahoma

by Haisten Willis October 28, 2014

NORMAN, OKLA. — Virtus Real Estate Capital, a real estate private equity firm, and Aspen Heights, a student housing development and management company, have partnered to develop a 684-bed cottage-style student housing community near the University of Oklahoma. Construction has begun on the complex, which will be completed in August 2015.

October 28, 2014

Office Texas

Veriten Solutions Plans Relocation in Metro Dallas

by Haisten Willis October 28, 2014

ADDISON, TEXAS — Veriten Solutions LLC will relocate its headquarters by the end of 2014 to Marsh Business Park East in Addison. The company will move into a 12,237-square-foot property located at 3752 Arapaho Road, one of six buildings in the 179,739-square-foot business park. The park is 88 percent occupied. Veriten, a technology company focused on enterprise application design and development services, is currently headquartered at another location in Addison. Jason Miller and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, P7/Sealy Marsh Arapaho Owner LP.

October 28, 2014

Hospitality Texas

Candlewood Suites Hotel Completed in San Antonio

by Haisten Willis October 27, 2014

SAN ANTONIO — Cleveland Construction Inc. has completed a new Candlewood Suites hotel at Fort Sam Houston in San Antonio. The 153,685-square-foot, 310-unit hotel is the largest Candlewood Suites hotel in the world. It is part of the Privatization of Army Lodging (PAL) program, an Army-led program aimed at revitalizing on-post lodging facilities for soldiers, their families and other government travelers. The new hotel is five stories tall with amenities including a swimming pool, patio pavilion, business and fitness centers, guest laundry facilities, a breakfast bar and on-post shuttle services.

October 27, 2014

Multifamily Texas

ARA Brokers $37.3M Sale of 324-Unit Apartment Complex in Oklahoma City

by Haisten Willis October 27, 2014

OKLAHOMA CITY — ARA has brokered the $37.3 million sale of Liberty Pointe, a 324-unit apartment complex located southwest of Tinker Air Force Base, the second-largest military air depot I the United States. Weidner Apartment Homes, a privately held real estate company founded in 1977, is the buyer. The company owns 216 apartment complexes in the U.S. and Canada. Oklahoma City-based Dick Tanenbaum completed Liberty Pointe in 2013. Amenities include granite countertops, brushed nickel hardware and hardwood floors.

October 27, 2014

Multifamily Texas

Dougherty Arranges $3.5M Loan for Apartment Complex in Fort Worth

by Haisten Willis October 27, 2014

FORT WORTH — Dougherty Mortgage LLC has arranged a $3.5 million Fannie Mae loan for the acquisition of Monterrey Apartments and Townhomes, a 105-unit apartment complex located in Fort Worth. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Dallas office arranged the loan for the borrower, TS Asset Monterrey LLC. The property is located near downtown Fort Worth and includes amenities such as a swimming pool and on-site laundry facilities.

October 27, 2014

Retail Texas

CBRE Brokers Sale of Shopping Center in Fort Worth

by Haisten Willis October 24, 2014

FORT WORTH — CBRE has brokered the sale of Hulen Pointe Shopping Center in Fort Worth. Bo Avery of TriMarsh Properties purchased the retail center from Austin-based Wes Walters Realty Inc. Hulen Pointe is comprised of four buildings totaling 174,783 square feet and is 48 percent occupied by a combination of national, regional and local tenants. Anchor tenants include Dollar Tree, Dickey’s BBQ, State Farm Insurance and Great Clips.

October 24, 2014

Industrial Texas

Lee & Associates Negotiates Industrial Lease in Metro Austin

by Haisten Willis October 24, 2014

BUDA, TEXAS — Lee & Associates has negotiated the lease of a 24,000-square-foot industrial building located at 199 Park 35 Cove N. in Buda, a suburb of Austin. Reed Parker and Tom Walrich of Lee & Associates’ Dallas/Fort Worth office represented the buyer, The CounterSource, a supplier of custom fabrication and counter top surfaces. Thomas Rhodes with Century 21 Randall Morris & Associates represented the seller, Prisma Properties.

October 24, 2014

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