Texas

Hunt Cos. to Develop Transit-Oriented Project in El Paso

by Haisten Willis December 3, 2014

EL PASO, TEXAS — Hunt Metro 31 LLC will develop a 31-acre mixed-use project at the former Northpark Mall site in Northeast El Paso. The project, known as Metro 31, will consist of 325 apartments, 80 units of senior living and 48 live/work units. The project will be located at the corner of Dyer Street and Diana Drive. and will include Sun Metro’s BRIO bus rapid transit station along with 135,000 square feet of retail space. A grocery store will anchor the project, which will also include up to 100,000 square feet of office space.

December 3, 2014

Baker Katz Arranges Lease of Five Chipotle Locations in Texas

by Haisten Willis December 3, 2014

HOUSTON, CORPUS CHRISTI, CYPRESS, HUNTSVILLE & SPRING, TEXAS — Baker Katz has arranged the lease of five Chipotle locations in Texas. The restaurants range in size from 2,000 to 3,000 square feet. The Chipotle restaurants are located in Corpus Christi, Houston, Cypress, Huntsville and Spring.

December 3, 2014

Multifamily Texas

M&M Arranges Sale of Apartment Building in Fort Worth

by Haisten Willis December 3, 2014

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of University Village Apartments, a 15-unit apartment property in Fort Worth. Trey McGhin of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. A Fort Worth-based limited liability company purchased the property in a 1031 tax-deferred exchange. Mason Green of the firm’s Fort Worth office represented the buyer. University Village Apartments is located at 3123-3125 S. University Drive and is within walking distance of Texas Christian University. The property was built in 1959 and sits on .3 acres. It spans 8,800 square feet with an average unit size of 586 square feet.

December 3, 2014

Multifamily Texas

Eastern Union Arranges $3.3M Loan for Apartment Complex in Tulsa

by Haisten Willis December 3, 2014

TULSA, OKLA. — Eastern Union Funding has arranged a $3.3 million acquisition loan for financing of The Landing, an apartment complex located at 9743 E. 12th St. in Tulsa .The complex includes 16 two-story buildings totaling 126 units. Built in 1973, the property includes a mix of one- and two-bedroom units ranging in size from 700 to 1,000 square feet. Motti Blau of Eastern Union Funding arranged financing through Arbor Commercial Mortgages. The transaction is a non-recourse, 10-year loan with 4.5 percent interest.

December 3, 2014

Office Texas

HFF Arranges Sale, Financing of Office Property in Uptown Dallas

by Haisten Willis December 2, 2014

DALLAS — HFF has arranged the sale and financing of 3811 Turtle Creek, a 296,000-square-foot Class A office tower in Uptown Dallas. HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors. KBS Capital Advisors purchased the property for an undisclosed amount. HFF’s debt placement team also secured a seven-year, 3.6 percent, fixed-rate loan on behalf of the new owner through a life insurance company. The property sits on five acres at the intersection of Turtle Creek Boulevard and Blackburn Street near the Turtle Creek Village mixed-use development, which is under construction. The 21-story property was recently renovated and features a gym and 899-space parking garage. The building was 81 percent leased at the time of sale to tenants including Eagle Materials Inc., Prosperity Bank, Estes Okon Thorne & Carr and Gables Residential.

December 2, 2014

Hospitality Texas

Home2 Suites by Hilton Hotel Opens in College Station

by Haisten Willis December 2, 2014

COLLEGE STATION, TEXAS — Home2 Suites by Hilton has opened in College Station. The hotel is a mid-tier, all-suite property designed for business travelers and extended stay guests. The College Station location is the 45th Home2 Suites property to open nationally. The 111-suite hotel is located at 300 S. Texas Ave., one block from the Texas A&M University campus. Amenities include laundry and fitness areas, continental breakfast, pool and outdoor grills.

December 2, 2014

Office Texas

Harwood Arranges Office Lease in Dallas’ Rolex Building

by Haisten Willis December 2, 2014

DALLAS — Harwood International has arranged a new office lease in the Harwood district of Dallas. Collett is expanding its offices to the Rolex Building, occupying 4,000 square feet. Collett was established in 1987, employs 50 real estate professionals, manages six million square feet of commercial space in eight states and has developed more than 95 projects totaling 14 million square feet. The Rolex building, built in 1984, spans seven stories and 155,550 square feet.

December 2, 2014

Multifamily Texas

BMC Provides $1.1M Loan for Apartment Complex in San Antonio

by Haisten Willis December 2, 2014

SAN ANTONIO — Brian Gramlich of BMC Capital’s Dallas office has arranged a $1.1 million purchase loan for an apartment complex in San Antonio on behalf of an unnamed borrower. The loan was cross collateralized on two properties at a 65 percent loan-to-value ratio with a 4.9 percent rate and 30-year amortization schedule.

December 2, 2014

Multifamily Texas

M&M Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis December 2, 2014

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Park Row East, a 205-unit apartment complex located in Arlington. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, PPA Group of Austin. Silva also secured the buyer, a local limited liability company. Park Row is located at 3201 E. Park Row Drive, just east of U.S. Highway 360 and south of I-30. The property was built in 1972 and consists of 28 buildings. The new owner plans to make improvements to the property to make it more competitive in the rental market.

December 2, 2014

Multifamily Texas

Griffis Residential Purchases Apartment Complex in Metro Austin for $55.5M

by Haisten Willis December 1, 2014

ROUND ROCK, TEXAS — Griffis Residential has purchased The Orchard Apartments, a 512-unit Class A apartment complex located in Round Rock, for $55.5 million. The complex is located in the city’s La Frontera commercial business, retail and housing center. With the acquisition, Griffis Residential now owns and manages 5,658 multifamily units. The Orchard Apartments is the first Austin area complex the company owns, and will be renamed Griffis La Frontera as part of the transaction. The complex was built in 1997 and Griffis plans to invest more than $4 million in upgrades.

December 1, 2014

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