SAN ANTONIO — Canyon Capital Realty Advisors (Canyon Realty) has provided a $55.2 million senior construction loan for the 253,606-square-foot fifth phase of the RIM, a power center property in San Antonio. The phase, located at the interchange of I-10 and Loop 1604, is 91 percent pre-leased to tenants including Hobby Lobby, PetSmart, Total Wine & More, Toby Keith’s I Love This Bar & Grill and Bowl & Barrel. RIM V, as it is known, is located in the center of the other four phases, which are fully occupied and house such retailers as Target, Bass Pro Shops, Dick’s Sporting Goods, Best Buy, T.J. Maxx, Lowe’s and Michael’s. Canyon realty arranged the financing on behalf of an affiliate of Thomas Land and Development LLC.
Texas
DALLAS — NorthMarq Capital has arranged a $13.4 million refinance loan for Galleria Plaza, a 189,104-square-foot office tower in Dallas. Located at 4851 LBJ Freeway, the Class A property features recently renovated common areas and exterior landscaping. Paul Brighton of NorthMarq arranged the refinancing on behalf of the borrower, Younan Properties Inc. Business Partners LLC is the lender.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Trinity Oaks, a 206-unit multifamily complex in Arlington. Constructed in 1981, the Class B property is located at 811 Northeast Green Oaks Blvd. and offers studio, one- and two-bedroom apartments in six different layouts. Michael Ware and William Jarnagin of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The buyer in the transaction was not disclosed.
PEARLAND, TEXAS — HFF has arranged joint venture equity and construction financing for the Center at Pearland Parkway, a 165,000-square-foot retail development in the Houston suburb of Pearland. The property, a power center, will be located on a 27-acre site at the intersection of FM 518 and Pearland Parkway, in close proximity to a 146,000-square-foot Lowe’s and a new HEB grocery store set to open this spring. TJ Maxx and Ross Dress for Less have pre-leased space at the project, which is slated for completion in the fourth quarter of this year. Matt Kafka, Colby Mueck and Will Crawley of HFF worked on behalf of the developer, Stream Realty Partners, to both arrange a joint venture with Dallas-based Thackeray Partners and secure a construction loan through Bank of the Ozarks.
HOUSTON — NAI Houston has brokered the sale of a 72,000-square-foot industrial property in Houston’s North Inner Loop Industrial submarket. Located at 3919 Eastex Freeway, the warehouse property features 2,000 square feet of office space, clear heights ranging from 18 to 25 feet and a fenced outside storage area. Michael Keegan and Darren O’Conor of NAI Houston represented the seller, MKK Investment Properties LLC, in the transaction. Beto Tentori of CitiQuest Properties represented the buyer, Reforma Properties LTD.
DEL VALLE, TEXAS — Marcusw & Millichap has brokered the sale of A-Mini Storage, a 47,050-square-foot self storage facility in the Austin suburb of Del Valle, for $1.3 million. Located at 2381 Highway 71 East, the property is in proximity to the Austin-Bergstrom International Airport and State Highway 130. David Knobler and Justin Miller of Marcus & Millichap marketed the asset on behalf of the seller, a Houston-based partnership. Roger Hendricks, also of Marcus & Millichap, secured the buyer, an individual/personal trust.
HOUSTON — Full-service commercial real estate firm Finial Group has arranged a 13,000-square-foot industrial lease in Houston for Core Refractory Systems, a provider of refractory products and services. Located at 4555 Homestead Road, the property is in close proximity to I-610. Reed Vestal and Ross Thomas of Finial Group represented the tenant in the lease negotiations. Lee Paris internally represented the landlord, Warehouse Associates.
DALLAS AND DESOTO, TEXAS — USAA Real Estate Co. and Seefried Properties have broken ground on Southfield Park 35, a four-building, 2.3 million-square-foot industrial complex located primarily in Dallas and stretching into the neighboring city of DeSoto. The speculative Class A development is the largest in the Metroplex. Construction is underway on the first building, which will total 1.1 million square feet and is slated for completion by the end of the third quarter of this year. The second building will measure 678,600 square feet, and the third and fourth buildings will each offer 241,800 square feet. Terry Darrow, Kurt Griffin and Nathan Orbin of JLL are marketing and leasing the property.
SAN ANTONIO — Financial services group Greystone has arranged a $38.8 million loan for the refinancing of Renaissance at Canyon Springs, a 360-unit multifamily community in San Antonio. The Class A property offers one- to four-bedroom townhomes, as well as communal amenities including multiple swimming pools, basketball and tennis courts, a media center, fitness center, playground and putting green. Located at 24245 Wilderness Oak, the complex is in close proximity to the Canyon Springs golf course. Reuben Dolny of Greystone arranged the 35-year HUD 223(f) loan on behalf of The Bascom Group LLC.
ADDISON, TEXAS — HFF and CBRE have jointly brokered the sale of Two Addison Circle, a 198,681-square-foot office property in the northern Dallas suburb of Addison. Completed in 2009, the six-story Class AA building is located at 15725 N. Dallas Parkway, at the entrance to Addison Circle, a 70-acre, mixed-use development. At the time of the sale, the asset was 89 percent leased to tenants including USAA and Gehan Homes. HFF and CBRE marketed the property on behalf of the seller, Brookfield Property Group. LPC Realty Advisors, an affiliate of Lincoln Property Co., purchased the building on behalf of a public pension fund.