PROSPER, TEXAS — Matthews Southwest, a Dallas-based development company, has purchased 157 acres of land, located at the corner of the Dallas North Tollway and U.S. Highway 380 in Prosper. The land will be the site of a regional mixed-use development, including more than 3 million square feet of retail, healthcare, office, hotel and entertainment space. Matthews Southwest has formed a public/private partnership with the town of Prosper for the development. The land is two separate tracts sold by the St. Clair family and Centurion American. Matthews Southwest was self-represented in the St. Clair tract purchase, and David Davidson Sr. of Davidson Realty Estate represented Matthews Southwest in the Centurion American tract purchase. Ray Utley of A. Ray Utley & Co. Realtors and John St. Clair of Henry S. Miller represented the St. Clair family. Ken Reimer, David Davidson Jr. and Edward Bogel of Venture Commercial represented Centurion American. Venture Commercial will assist Matthews Southwest in securing tenants for the property.
HOUSTON — CBRE has arranged the sale of 6300 West Loop South, a six-story, 100,558-square-foot office building located in Houston's Bellaire submarket. The office property is 95 percent leased. Todd Casper and Michael Hassler of CBRE represented Braun Enterprises, agent for 6300 West Loop Realty Ltd., in the transaction. Equitas Commercial Real Estate Holdings was the buyer.
ARLINGTON, TEXAS — Poynter Scifres Capital Services (PSCS), a division of Poynter Scifres Cos., has participated in the placement of $18.2 million of CTL debt financing for a four-story, 89,000-square-foot office building, located at 1600 E. Lamar Blvd. in Arlington. The loan was a refinance of short-term bank debt. Dennis Scifres headed the PSCS team on the loan arrangement, and also provided legal representation for the California-based borrower.
AUSTIN, TEXAS — Muskin Commercial has secured the sale of the 242-unit Park Lane Villas Apartments, located at 1710-1720 E. Woodward St. in Austin. The Flats at Woodward LLC purchased the community and plans on enhancing the interior and exterior of the apartment community. Ellen Muskin and Daniel Elam of Muskin Commercial represented the Southern California-based seller in the transaction. Matt Counts of Texas Realty Capital arranged acquisition financing for the buyer.
SOUTHLAKE, TEXAS — Irving-based Realty Capital Management has arranged the sale of a 3,351-square-foot office property, located in Miron Grove Office Park at 270 Miron Drive in Southlake. Southlake residents David and Sonja Coffin purchased the property, which will be the new home of David Coffin PLLC, a law firm. The firm will occupy 1,833 square feet of the property and the remaining 1,518 square feet will be occupied by a medical practice. Mark Boone, director of commercial sales and leasing for Realty Capital Management, represented the seller, RCC Miron Office Ltd., in the transaction. Shane Strickland of Glacier Commercial Realty represented the buyer.
PLANO, TEXAS — The Medical Center of Plano, a 427-bed acute care facility located at 3901 W. 15th St. in Plano, will soon break ground on a $66 million expansion and renovation of its existing facilities. The project will include the development of its Level II Trauma Center, two additional floors totaling 56,000 square feet, addition of 68 beds in the neurosciences unit, renovation of the existing public area, updates to the exterior, new covered entranceways, renovation of administrative offices and a new 3t MRI and EP Cath Lab. Perkins+Will's Dallas office is providing architectural services. Construction is slated to begin in May 2013, with completion slated for late 2014.
THE WOODLANDS, TEXAS — The Woodlands Development Co. (TWDC), a subsidiary of The Howard Hughes Corp., has signed an agreement with H-E-B to be the anchor grocery store for the new Creekside Park Village Center, a 100-acre mixed-use development located on Kuykendahl Road between Creekside Forest Drive and Creekside Green Drive in The Woodlands. The neighborhood center will include a tree-lined park with a water feature, a 4,300-square-foot glass-walled restaurant, 52,000 square feet of retail space and 28,000 square feet of office space. Pad sites will also be available for a drug store anchor and other retail and office tenants. Jake Baker of Riverway Retail represented H-E-B in the lease transaction. Todd Edmonds and Bob Parsley of Colliers International represented TWDC. The Creekside store will be H-E-B's fourth location in The Woodlands.
SAN ANTONIO — NorthMarq Capital has secured a $39 million bridge loan for the 16-property Brass Professional Center, a 759,341-square-foot office campus in San Antonio. Major tenants at Brass include Aetna, MCNA, Santa Rosa, Harris Connect and QTC. Bryan Leonard of NorthMarq's San Antonio office and William Luedemann of NorthMarq's Houston office arranged the loan through a life insurance company lender.
BAY CITY AND HARLINGEN, TEXAS — Marcus & Millichap has arranged the sale of a 120-room Best Western in Bay City and a 70-room Hampton Inn & Suites in Harlingen. Best Western is located at 407 Seventh St. and the Hampton Inn & Suites is located at 1202 Ed Carey Drive. The Hampton Inn & Suites had a list price of $7.1 million. Michael Yu and Rahul Bijlani, senior directors of Marcus & Millichap's National Hospitality Group in Houston, represented the sellers in both transactions. A bank sold the Best Western and a limited liability company sold the Hampton Inn & Suites. Eric Guerro of Marcus & Millichap's Houston office assisted Yu and Bijlani in the sale of the Best Western. Yu and Bijlani also secured and represented the buyers. A private investor purchased the Best Western while a limited liability company purchased the Hampton Inn & Suites. Tyler Bean of Marcus & Millichap's Fort Worth office assisted Yu and Bijlani in representing the Best Western buyer.
PLANO, TEXAS — The Praedium Group and Dallas-based Price Realty Corp. has sold Estancia at Ridgeview Ranch, a 500-unit multifamily community located in Plano. A private buyer purchased the community after a 13-month holding period. The sellers stabilized Estancia at Ridgeview Ranch and improved revenues by 10.9 percent before the sale.