SAN ANTONIO — James Avery, a Texas-based jeweler, has opened a new store at South Park Mall in San Antonio. The location features James Avery’s new store design. It’s the company’s ninth location in the San Antonio metroplex and its 70th store overall. The new store is located at 2310 SW Military Drive, just off I-35.
Texas
MIDLAND, TEXAS — NorthMarq Capital’s Denver office has arranged the $16.3 million refinancing of Trinity Place Apartments, a 216-unit multifamily complex in Midland. The loan has a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower, a division of Weidner Investment Services Inc., a Seattle-based privately held owner of several multifamily properties, through its relationship with Freddie Mac. Ben Kation and Kevin Colard of Weidner Investment Services worked on the transaction. Built in 1982, the complex includes amenities such as a clubhouse, business and fitness center, outdoor pool and laundry facilities.
FORT WORTH — Marcus & Millichap has arranged the sale of Sun Ridge Apartments, a 99-unit apartment complex in Forth Worth. John Barker, vice president of investments, and Alexander Skotarek, an associate in Marcus & Millichap’s Forth Worth office, marketed the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured by Barker and Skotarek. Sun Ridge Apartments is located at 6608 South Freeway in Forth Worth. The complex has 99,345 square feet of total rentable space with an average unit size of 1,003 square feet. It was built in 1967 and has 34 one-bedroom, 55 two-bedroom and 10 three-bedroom units. On-site amenities include a swimming pool, laundry facilities and grade-level parking.
STEPHENVILLE, TEXAS — Construction is scheduled to start this month on the second phase of a new development at Tarleton State University, a unit of the Texas A&M University System. Balfour Beatty Construction will build a new, 502-bed student housing complex and renovate an existing 80-bed facility for the school’s Stephenville campus. The company also helped the university buy two pieces of land next to the campus. The new facility will consist of a single four-story building with two- and four-bedroom units. The project will be owned by an affiliate of Collegiate Housing Foundation, a national 501(c)(3) non-profit organization.
DALLAS — Sidley Austin LLP has preleased 75,000 square feet at the new McKinney & Olive office building in uptown Dallas. Crescent Real Estate Holdings LLC broke ground June 19 and construction is underway at the development located at 2021 McKinney Avenue. The office space will include 480,000 square feet, with Sidley Austin occupying the top 2.5 floors. Cassidy Turley executive managing director Craig Wilson and vice chairman Randy Cooper represented Sidley Austin in the transaction. Developer Crescent Real Estate Holdings was represented in-house by John Zogg. McKinney & Olive will be adjacent to the Ritz-Carlton and a few blocks from The Crescent. The McKinney Trolley service will provide access to Klyde Warren Park, the Dallas Arts District and other nearby attractions.
STAFFORD, TEXAS — HFF has secured refinancing for Shadowbrooke and Silverbrooke, two apartment complexes totaling 552 units in Stafford. HFF worked on behalf of the borrower, Venterra Realty, to arrange the refinancing in two separate transactions. The company negotiated five-year, fixed-rate loans at 3.1 percent with two years of interest-only payments through Freddie Mac’s CME program. HFF brokered the sale of the properties and arranged acquisition financing for Venterra when the company first bought the assets in 2011. Shadowbrooke and Silverbrooke are located at 1025 Dulles Avenue and 1020 Brand Lane in Stafford, about 18 miles southwest of downtown Houston. Shadowbrooke has 240 units and is 95.8 percent leased. Silverbrooke has 312 units and is 96.2 percent leased.
HOUSTON — Embrey Partners LTD of San Antonio and Texas-based Stonelake Capital Partners LLC have opened a four-story apartment complex at the southwest corner of Highway 249 and Cypresswood Drive in northwest Houston. The project includes 336 units on 15.4 acres. Highpoint at Cypresswood consists of two, four-story buildings with six elevators. Rents on one- and two-bedroom units, which range from 574 to 1,188 square feet, start at $900 per month. The complex features a 6,500-square-foot clubhouse, pool, grilling areas, a dog park, bike station and fitness room.
HOUSTON — Baker Katz, a Houston-based commercial real estate brokerage firm, has negotiated 59,608 square feet of Mattress One leases in the Houston area during the first half of 2014. Clay Alberts of Baker Katz negotiated the leasing of 16 Mattress One locations with a number of brokers. The leases are at both freestanding structures and shopping centers. Five stores are in Houston proper, while the others are in suburbs including Nederland, League City, Spring, Port Arthur, Beaumont, Tomball, Katy and Cypress.
BEDFORD, TEXAS — TNA Realty LP has acquired 1.1 acres of land in Bedford, Texas for development of a 6,000-square-foot office building. Jim Turano, executive vice president of the Dallas-Forth Worth office/industrial division of Henry S. Miller Brokerage, represented TNA in the sale. The land is north of Highway 183 on Industrial Boulevard, less than 10 miles from Dallas-Forth Worth International Airport. Ledyard GC Jr Trustee bought the site from TNA and construction is projected to start this summer. Freddy Vestal of Vestal Investments represented Ledyard.
HUMBLE, TEXAS — HFF has brokered the sale of Atascocita Shopping Plaza, a 158,613-square-foot retail center in Humble anchored by a grocery store. HFF marketed the property on behalf of the seller, Red Tail Acquisitions. A private investor bought the building. Atascocita Shopping Plaza sits on 16.7 acres at 6900-7072 FM 1960 in Humble, less than seven miles from I-69. The property is 94.7 percent leased to tenants including Aldi, Dollar Tree, Specs and Goodwill. HFF’s sales team included senior managing director Rusty Tamlyn, managing director Ryan West and associate director Matt Berry.