IRVING, TEXAS — Cushman & Wakefield (C&W) has brokered the sale of Regent Commons, a 619,643-square-foot office complex in the Freeport/Las Colinas submarket of Irving. The property, originally constructed in 2006, comprises three LEED-certified, Class A buildings on 52 acres fronting Interstate 635 at 3950, 4000 and 4050 Regent Blvd. The buildings are fully leased to two tenants, Citibank and State Farm. Michael Rotchford, David Wenk, Robert Elms, Scot Farber and Maureen Kelly of C&W, along with co-broker Cassidy Turley, represented the seller, a fund affiliated with Brookfield Asset Management. GI Partners was the buyer.
Texas
COPPELL, TEXAS — The Mansour Group of Marcus & Millichap has brokered the $4.5 million sale of Arbor Manor Shopping Center in Coppell, approximately 20 miles northwest of Dallas. The 10,049-square-foot retail strip center, located at the intersection of Denton Tap and Sandy Lake roads, is leased to Einstein Bros. Bagels, SmashBurger and Jersey Mike’s. Alvin Mansour of the Mansour Group represented the buyer, a private out-of-state investor, in the transaction. The seller was a local developer.
SAN ANTONIO — BMC Capital has secured a $1.2 million loan for Magnolia Apartments, a 25-unit multifamily property in an historic area of San Antonio. The loan featured a seven-year fixed rate of 4.25 percent and a 30-year amortization. Mike Callis of BMC’s Denver office arranged the terms. BMC Capital, headquartered in Dallas, acts as both a direct lender and a mortgage banker for commercial real estate properties.
IRVING, TEXAS — Property owner Rosemont Realty has signed Tricolor Auto Group to a renewal and expansion of its corporate headquarters lease in the Las Colinas submarket of Irving, approximately 13 miles northwest of Dallas. Tricolor previously occupied 16,783 square feet at The Summit at Las Colinas office tower and will now expand by approximately 33 percent to 24,913 square feet. Rosemont was internally represented by Kirby White, while Jon Altschuler of Altshuler & Co. represented the tenant. The Summit at Las Colinas, located at 545 E. John Carpenter Freeway, boasts 19 floors, 375,505 square feet of space of an 89 percent occupancy rating.
CYPRESS, TEXAS — Carroll Organization, an Atlanta-based real estate firm specializing in multifamily properties, has purchased Lakeview Lofts in Cypress, approximately 25 miles northwest of Houston. The 366-unit apartment community, located at 17807 Lakecrest View Drive, was 93 percent occupied at the time of the sale. Apartment Realty Advisors marketed Lakeview Lofts on behalf of the seller, TLMF 1 LP, the firm which also built the apartments. Carroll, which expands its Houston-area portfolio to more than 3,000 units with this acquisition, plans to rebrand the property as ARIUM Towne Lake.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of Falcon Apartments, a 33-unit, garden-style multifamily community in Irving, situated approximately 10 miles west of downtown Dallas. The property, which was originally constructed in 1961, was 95 percent occupied at the time of the sale. Clint Roberts of Marcus & Millichap’s Fort Worth office represented the seller, Delicias Investments Inc., and also secured the buyer, a local private investor.
PASADENA, TEXAS — Newmark Grubb Knight Frank has arranged a 24,000-square-foot build-to-suit lease for Holman Boiler Works Inc. at Bayport North Industrial Park II in Pasadena, a southeastern suburb of Houston. Rob Stillwell of NGKF’s Houston office represented the tenant, a boiler solutions provider headquartered in Dallas and in business for 65 years. Holman’s new facility will be located at Underwood Road and New Decade Road within the complex, which is near the intersection of Highway 146 and Fairmont Pkwy. B. Kelley Parker III of Cushman & Wakefield represented the property owner and landlord, a Texas limited partnership.
PASADENA, TEXAS — Moody Rambin has arranged an industrial lease of 10,500 square feet at the Jasmine Warehouse Project in Pasadena, about 15 miles southeast of Houston. FlexiPlus LLC, a packaging and container company, signed on to be the newest tenant at the 1905 Jasmine Drive facility. Dan Nguyen and Doyle Toups of Moody Rambin represented the landlord, V & W Leasing, in the negotiations.
SAN ANTONIO — KeyBank Real Estate Capital has arranged a $32.5 million Fannie Mae loan for the acquisition of Franklin Park at Sonterra, a 202-unit independent and assisted living community in San Antonio. A joint venture between Harrison Street Real Estate Partners IV and Franklin Cos. purchased the property, which was developed by Franklin Development and is operated by a Franklin-affiliated management company. Franklin Cos. currently owns and operates seven seniors housing properties in the Dallas and San Antonio metro areas.
HOUSTON — HFF has brokered the sale of a 57,811-square-foot office building located at 14811 St. Mary’s Lane in Houston’s Energy Corridor submarket. The property, part of a master-planned business park near the intersection of Interstate 10 and Dairy Ashford Road, was 87.7 percent leased at the time of the sale. Dan Miller, senior managing director, led the HFF team that represented the seller, BGK Integrated Group. Mission Equities was the purchaser.