ROUND ROCK, TEXAS — NorthMarq has arranged acquisition financing of $52.3 million for Monterone at Round Rock Apartments, a 583-unit Class A multifamily community in the Austin suburb of Round Rock. Alison Williams of NorthMarq’s Tampa office and Stephen Whitehead of the firm’s Dallas office represented the Toronto-based borrower, which will pay a sub-4 percent fixed rate for 10 years with two years interest-only. The loan amortizes over 30 years. Patton Jones of ARA Austin represented the seller in the acquisition.
Texas
SAN ANTONIO — Stream Realty Partners has signed Friedrich Air Conditioning Co. to a lease of 17,600 square feet in building two of the Isom Business Center, an industrial property in the Northeast submarket of San Antonio. Friedrich, a manufacturer of residential and commercial air conditioning and refrigeration products, will use the space as a research and development facility. In total, Isom Business Center comprises 175,200 square feet in three buildings. Stream’s Jason Schnittger represented landlord DRA Advisors in the deal, while Chuck King of Travis Commercial Real Estate Services Ltd. represented the tenant.
DALLAS — Commercial real estate services provider Henry S. Miller Cos. will move its corporate headquarters to the Stanford Corporate Centre at 14001 Dallas N. Tollway, where the firm will occupy 25,000 square feet on the 11th and 12th floors. The site is less than two miles from the firm’s previous home of 20 years, Providence Towers on Spring Valley Road. Stanford Corporate Centre, built in 1985, will undergo interior improvements before Henry S. Miller Cos. relocates this fall.
PLANO, TEXAS — HFF has arranged the sale of The Brentdale, a 412-unit multifamily community located at 1515 Rio Grande Drive in Plano. Resource Real Estate is the new owner of the complex, which is situated on 20.96 acres and is currently 93.2 percent leased. Rob Key and Blair Lang led the HFF team representing the seller, a joint venture between Intercontinental Real Estate Corp. and the Pinnacle Family of Cos.
DALLAS AND AUSTIN, TEXAS — Steadfast Income REIT has purchased two Texas apartment properties in separate deals for an aggregate price of $92 million. Meritage at Steiner Ranch (currently known as Monterone at Steiner Ranch), which sold for $80 million, is a 502-unit complex within the Steiner Ranch master planned community in Austin. The Belmont, which sold for $12.1 million, is a 260-unit complex in the Dallas/Fort Worth suburb of Grand Prairie. With these acquisitions, Steadfast now holds more than 10,000 multifamily housing units in 10 states.
DALLAS — The Hillside West Seniors Community, a 130-unit, age-restricted multifamily complex, has opened ahead of schedule at The Canyon in Oak Cliff, a 200-acre mixed-used development located five miles west of downtown Dallas. Development owner Stratford Land partnered with developer GroundFloor Development on both Hillside West and The Canyon’s original multifamily complex, Taylors Farm Apartments. GroundFloor utilized HUD financing and Low Income Housing Tax Credit financing assistance in the construction of the new complex, which offers one- and two-bedroom configurations plus amenities.
SUGAR LAND, TEXAS — Behringer Harvard has acquired Parkside Apartments, a 240-unit apartment community in Sugar Land, a growing city within Greater Houston. The property was purchased for the portfolio of Behringer Harvard Opportunity REIT II through a joint venture with affiliates of Houston’s Arcadian Real Estate Group. Built in 1998, Parkside comprises 19 buildings on 9.2 acres near the intersection of Highway 6 and U.S. Highway 90. The joint venture partners plan a renovation program for the complex that will upgrade common-area amenities as well as unit finishes.
FORT WORTH, TEXAS — Kubota Tractor Corp. has signed a lease for 44,000 square feet at Fort Worth’s CentrePort Business Park 3, bringing the 200,848-square-foot office/industrial complex to 100 percent occupancy. Bradford Commercial Real Estate Services’ Michael Spain and Joe Santaularia represented landlord Valwood 501 (c)(25) Inc. in the negotiations. CentrePort Business Park 3, located at 4300 Diplomacy Road in the Upper Great Southwest Industrial submarket, is only a quarter-mile from Kubota’s primary distribution center on FAA Boulevard.
HOUSTON — Deals are in place for three new Houston metro locations of Dunkin’ Donuts, which recently announced its commitment to open a minimum of 60 locations in the area within the next five years. Jonathan Hicks of Davis Commercial represented the tenant in build-to-suit agreements with Tweed Property Interests LLC in Deer Park, Calvert Lindsay Interests LP with Yes Partners LLC in Katy and Ayrshire Corp. with Daily Grind LLC in the Southeast Houston submarket.
LEWISVILLE, TEXAS — The industrial division of NAI Robert Lynn has arranged the lease of 266,640 square feet of industrial space in Lewisville to Nutritional Science Laboratories. The site, located on Lakepointe Drive, is part of a larger 391,000-square-foot facility. The remaining 125,000 square feet is available to another tenant or for a potential future expansion of Nutritional Science Laboratories. NAI’s Rick Medinis and Tyson Erwin represented landlord Exeter Property Group, while Alex Payne of Axis Realty Group represented the tenant.