HOUSTON — Greystone has provided $9 million in HUD financing for two multifamily housing properties in the Houston area. Lexington Square, an 80-unit Section 8 property in Angleton, was refinanced with 30-year HUD loans. Countryside Village, a 182-unit Section 8 property in Humble, was refinanced with 35-year HUD loans. John Williams, a senior mortgage originator for Greystone, originated the loans on behalf of the owner, National Community Renaissance.
Texas
HOUSTON — Peloton Capital Partners has sold a recently renovated two-building office property in Houston’s Westchase district to Pennybacker Capitol InSite Realty Partners for an undisclosed amount. The properties total 121,700 square feet and are 80 percent occupied. Todd Casper and Mike Hassler with CBRE’s capital markets team arranged the sale. ITT Educational Service Inc. anchors the two-building asset, located at 2950 and 3030 S. Geasner near the Westpark Tollway and U.S. Highway 59.
DALLAS — Marcus & Millichap has brokered the sale of Holly Park, a 160-unit apartment property located at 9710 Military Parkway in Dallas. The property features one- and two-bedroom units located in 10 two-story buildings. The property's rentable square footage is 120,128 square feet, with an average unit size of 751 square feet. Community amenities include two on-site laundry facilities, a playground area, on-site maintenance and a courtyard. John Barker with Marcus & Millichap’s Fort Worth office represented the seller, a partnership, and the buyer, a limited liability company, in the transaction.
DALLAS AND SAN ANTONIO — Presidium Group LLC has purchased two multifamily properties in Texas, adding to its portfolio of more than 9,000 apartment units. The Dallas-based company has purchased Quarters, a 208-unit apartment complex located at 6415 Melody Lane in Dallas. Presidium will renovate Quarters with interior renovations that include new unit fixtures, plumbing, lighting fixtures and appliances, as well as a new paint scheme. Exterior improvements will consist of aesthetic improvements to amenity areas, the leasing center, property and building signage, and new siding and paint. Presidium has also purchased Sentinel Pointe, a 91-unit complex in San Antonio, located at 1235 E. Mulberry Ave. Its value-add renovations will include new unit fixtures, plumbing, lighting fixtures and appliances, as well as a new paint scheme. Exterior upgrades will improve the building exteriors, amenities and common areas, including the leasing center.
DENTON, TEXAS — Frontera Hotel Group has added two hotels in Denton to its portfolio of managed properties, an 88-room, four-story LaQuinta Inn & Suites and a 92-room, four-story Holiday Inn Express Hotel & Suites. Angel Hospitality Inc. of Frisco, Texas, acquired the hotels on July 1. Both properties recently underwent extensive renovations. Dallas-based Frontera now manages 12 hotels in Texas, Georgia, Wisconsin and California, and has ownership in two of the properties.
KATY, TEXAS — Marcus & Millichap has arranged the sale of Parks Plaza at Westheimer Lakes North, a 32,680-square-foot retail property located at 6734 Westheimer Lakes North Drive in Katy. The asset sold for $8 million. Watt Harrison, an associate, and James Bell, vice president of investments in Marcus & Millichap’s Houston office, represented the seller and procured the buyers.
HOUSTON — NAI Houston has leased a 22,000-square-foot industrial warehouse building at 6525-B Cunningham Road in Houston. Travis Land of NAI Houston represented the landlord, Blum Beltway LP. Scott Rubenstein of Pipeline Realty represented the tenant, Texas Pipe & Supply Company.
HOUSTON — CNL Healthcare Properties has purchased the Houston Orthopedic & Spine Hospital campus for $76 million. The Class A health campus includes a 126,946-square-foot specialty hospital; a 99,768-square-foot medical office building; and two parking structures. This purchase is CNL’s largest single-property investment in its portfolio. The hospital campus was completed in 2007 and is located at the intersection of Interstates 69 and 610. The hospital includes 64 private beds, 10 operating suites and various imaging services. Lincoln Harris CSG will provide on-site leasing and management services.
AUSTIN, TEXAS — NorthMarq Capital has arranged the $10.2 million refinancing of West Side Village, a 50,107-square-foot retail and office property located at 1214 W. Sixth St. in Austin. Paul Brighton, senior vice president/senior director of NorthMarq’s Dallas office, arranged the loan with a 10-year term and 30-year amortization schedule through a CMBS lender. Austin fashion retailer Julian Gold anchors the property.
PLANO, TEXAS — Silverstone Healthcare Co. has begun construction on HarborChase of Plano, a new 120-unit, Class A, assisted living and memory care community located on Preston Road at Highway 121. Harbor Retirement Associates will operate HarborChase of Plano. Silverstone’s financial partners in HarborChase of Plano include L&B Realty Advisors and the Dow Chemical Pension Fund. HarborChase of Plano will feature a living room, library, salon, spa and wellness center. HarborChase will also offer dining venues that include a dining room, private dining, outdoor dining, an exhibition kitchen and a bistro/coffee bar. Texas Capital Bank will provide HarborChase of Plano’s construction financing. Rogers O’Brien will serve as the contractor, while BOKA Powell and Interior Design Associates will serve as architect and interior designer, respectively.